Newsweek Names Otis one of America’s Greenest Companies for 2nd Year

Otis Worldwide (NYSE: OTIS) has been named to Newsweek’s America's Greenest Companies list for the second consecutive year.

The list recognizes the top 500 companies in the U.S. based on more than 25 parameters measuring greenhouse gas (GHG) emissions, water usage, waste generation, and sustainability data disclosure and commitments. Additionally, companies must meet minimum sustainability standards set by the European Union.

Otis pursues environmental sustainability – advancing environmental stewardship and innovation – in alignment with its business objectives, driving value for key stakeholders, including our colleagues, customers, partners and shareholders.

Otis’ goals for Environment & Impact include:

• Near-term science-based GHG emissions reduction targets, which were approved by the Science Based Targets initiative (SBTi) in April 2024:
  • o Reduce absolute scope 1 and 2 GHG emissions 55% by 2033 from 2021 base year.*
  • o Reduce absolute scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 33% by 2033 from 2021 base year.
• Source 100% factory electricity from renewable energy by 2030
• Achieve 100% factory eligibility for zero-waste-to-landfill (ZWTL) certification by 2025
• Complete ISO 14001 certification for all factories by 2025 (goal achieved in 2021)

Otis was also recognized by Newsweek this year as one of the World’s Most Trustworthy Companies and America’s Most Trustworthy Companies.

For more information on our Environment & Impact strategies, goals and actions, please consult our ESG Report.

About Otis

Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide – the industry's largest Service portfolio. You’ll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 71,000 people strong, including 42,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram and Facebook @OtisElevatorCo.

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* The target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks.

Cautionary statement

This press release contains forward-looking statements (including statements that constitute forward-looking statements under the securities laws), including, but not limited to, statements that relate to our intent to achieve certain environmental, social and governance (“ESG”) commitments, plans, targets, goals and future risks associated with climate change and their impact on our future business. These forward-looking statements are intended to provide management’s current expectations or plans for our future performance, based on assumptions currently believed to be valid. The forward-looking statements are subject to future events, risks, uncertainties and other factors, many of which are beyond the control of the company, that could cause actual results to differ materially from our historical results or current expectations, including, but not limited to the availability and cost of low- or non-carbon-based energy sources and technologies; third-party coordination and alignment over which we do not have control and may be unpredictable; evolving regulatory requirements affecting ESG standards or disclosures; the availability of suppliers that can meet our sustainability, diversity and other standards; severe weather events, including from the effects of climate change; changes in the economic and political conditions in the industry and markets in which we operate; and other risks and uncertainties described in detail in the company’s most recent Form 10-K, Form 10-Q and in similar sections of other filings made by the company with the Securities and Exchange Commission from time to time. The forward-looking statements speak only as of this date. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.