Second-Quarter 2017 Results

July 26, 2017

Safe Harbor

This presentation includes “forward-looking statements,” which are statements that are not historical facts, including

statements that relate to the mix of and demand for our products; performance of the markets in which we operate; our

share repurchase program including the amount of shares to be repurchased and timing of such repurchases; our capital

allocation strategy; our projected 2017 full-year financial performance and targets including assumptions regarding our

effective tax rate. These forward-looking statements are based on our current expectations and are subject to risks and

uncertainties, which may cause actual results to differ materially from our current expectations. Such factors include, but

are not limited to, global economic conditions, the outcome of any litigation, demand for our products and services, and tax

law changes. Additional factors that could cause such differences can be found in our Form 10-K for the year ended

December 31, 2016, our Form 10-Q for the quarter ended March 31, 2017, our Form 10-Q for the quarter ended June 30,

2017, and other SEC filings. We assume no obligation to update these forward-looking statements.

This presentation also includes non-GAAP financial information which should be considered supplemental to, not a

substitute for, or superior to, the financial measure calculated in accordance with GAAP. The definitions of our non-GAAP

financial information are included as an appendix in our presentation and reconciliations can be found in our earnings

releases for the relevant periods located on our website at www.ingersollrand.com. All data beyond the second quarter of

2017 are estimates.

2

Executing a Consistent Strategy that Delivers Profitable Growth

3

Differentiated products

and services deliver

top-tier revenue growth

Sustained Growth

1.

Margin improvement

and powerful cash flow

Operational Excellence

2.

Reinvestment, dividends,

share repurchase and

acquisitions

Dynamic Capital Allocation

3.

Commitment to

integrity, ingenuity and

engagement

Winning Culture

4.

Strong, globally recognized brands

Well positioned in both geographic and end markets

Leadingmarket shares

2017 Mid-Year Update – Strong Results Driving Higher FY Revenue and EPS Guidance

4

• Robust North America and China Commercial HVAC and Residential HVAC revenues

• Industrial outlook consistent with continued improvement expectations

• Higher inflation in metals and refrigerants creating increased headwind compounded by volume above forecast largely purchased at spot rate

• Pricing remains positive in both Climate and Industrial segments

• Transport expectations remain largely unchanged

- North America somewhat stronger, Europe growth lower than anticipated

• FX revenue benefit from weaker dollar forecast; dropping through at lower margin

• Revenue growth, positive price and productivity enabling coverage of material and other inflation while continuing high levels of business investment to maintain momentum over long term

• Continued strong operating results

– Adjusted continuing EPS of $1.49, up 8% year over year; adjusted margin improved 40 bps

– Raising revenue growth and adjusted EPS guidance

• Robust Commercial & Residential performance– Climate revenues up high-single digits

– Residential revenues up high-teens; Commercial up mid-single digits

Key Takeaways Q2 2017

• Industrial business continues to make steady progress– Drove strong organic bookings, up 5 percent

– Improved adjusted operating margins, up 250 bps

• Dynamic allocation of capital– Paid dividends of ~$205M July year to date ($0.40 / share); ~2% dividend yield

– Repurchased $667M or 7.9M shares year to date ($325M Q2)

– $65M July year-to-date channel expansion acquisitions

Adjusted margin and adjusted EPS exclude restructuring in 2016 and 2017. Adjusted EPS in 2017 also excludes a Latin American discrete non-cash tax item. Additionally,

Adjusted EPS in 2016 excludes the sale of the remaining interest in Hussmann. See tables in news release for additional information.

5

Q2 2017 Continued Strong Operational Results

Adj. Operating Margin*Net Revenue

14.0%14.4%

Q2 '16 Q2 '17

$3,688$3,908

Q2 '16 Q2 '17

$1.38$1.49

Q2 '16 Q2 '17

+6%

+7%Organic

40 bps

Adjusted EPS*

* Adjusted margin and adjusted EPS exclude restructuring in 2016 and 2017. Adjusted EPS in 2017 also excludes a Latin American discrete non-cash tax item. Additionally, Adjusted EPS in

2016 excludes the sale of the remaining interest in Hussmann. See tables in news release for additional information.

+8%

• Continued innovation with leading products and services in durable end markets

• Long term focus with consistent strategy and strong execution

• Margin and EPS expansion led by our business operating system

Highlights

6

7

Strong Q2 Bookings Led by Commercial EMEA and Asia, Residential HVAC, Compressor and Industrial Products Businesses

Y-O-Y

%

Change

Reported Organic*

Q1 2016 1% 4%

Q2 2% 3%

Q3 2% 3%

Q4 6% 7%

Q1 2017 6% 7%

Q2 3% 4%

Climate C

Commercial HVAC - low-single digits

- N. America - mid-single digits

- L. America - mid-single digits

- EMEA + high-single digits

- Asia + high-single digits

Residential HVAC + high-teens

Transport + low-single digits

Total + 3%

Industrial

Compression Tech + mid-single digits

Industrial Products + mid-single digits

Small Elec. Vehicle - low-single digits

Total + 5%

Y-O-Y Change in Organic* Bookings

*Organic bookings excludes acquisitions and currency

North America Europe

Asia

Latin America

Revenue change Y-O-Y Q2 Reported Q2 Organic

Climate +7% +8%

Industrial +1% +2%

Total +6% +7%

Climate

Industrial

Middle East/Africa

C O N S O L I D A T E D R E S U L T S

Q2 Segment Organic Revenue Growth Led by North America, Asia and Middle East/Africa

Climate

Industrial

Climate

IndustrialClimate

Industrial

Climate

Industrial

8

E n t e r p r i s e

Innovation, Operational Excellence and Productivity Continue to Drive Adjusted Margin Expansion

• Higher margin driven largely by volume and productivity initiatives

• Continued inflation driven primarily by steel and tier 2 commodities

• Business continues to leverage cost structure as top line grows

• Continued successful strategy investing in products, systems, services and channel

Highlights

14.0%0.6 (0.2) 14.4%

2Q 2016 Volume / Mix / FX Price/MaterialInflation

Productivity/OtherInflation

Investment/Other 2Q 2017

0.5 (0.5)

(0.2) Investment

+40bps

Adjusted Operating

Margin

Adjusted Operating

Margin

9

C L I M A T E S E G M E N T

Q2 Strong Commercial and Residential HVAC Partially Offset by Softer Transport Results

Adj. Operating Margin*Net Revenue

16.9% 16.8%

Q2 '16 Q2 '17

$2,935$3,144

Q2 '16 Q2 '17

18.8% 18.8%

Q2 '16 Q2 '17

+7%

+8%Organic

-10 bps

Adj. OI + D&A %**

Flat

* Adjusted operating margin excludes restructuring in 2016 and 2017. See tables in news release for additional information.** Adjusted OI + D&A divided by revenue. This excludes restructuring in 2016 and 2017. See tables in news release for additional information.

• Strong Commercial revenue growth in applied equipment, unitary equipment, parts and service

• Residential continues to outperform with market share gains

• Low-single digit revenue decline at Thermo King due to softening markets

• Adjusted operating margins from revenue gains, productivity and price increases were offset by material

inflation and negative business mix

Highlights

10

I N D U S T R I A L S E G M E N T

Q2 Solid Margin Expansion and Higher Revenue

10.0%

12.5%

Q2 '16 Q2 '17

Adj. Operating Margin*

$753 $765

Q2 '16 Q2 '17

Net Revenue

12.3%

14.9%

Q2 '16 Q2 '17

+1%

+2%Organic

+250 bps

Adj. OI + D&A %**

+260 bps

• Aftermarket and Services delivered mid-single digit revenue and bookings growth in Compression

Technologies

• Service focus, new product development and cost reduction initiatives drove margin expansion

* Adjusted operating margin excludes restructuring in 2016 and 2017. See tables in news release for additional information. Q2 2016 included a reclassification of new product development costs which were an $8 million, or 1.1%, drag on operating margins. Excluding reclassification, operating margin was 10.4%; adjusted operating margin was 11.1%.

** Adjusted OI + D&A divided by revenue. This excludes restructuring in 2016 and 2017. See tables in news release for additional information. 11

Highlights

2014 2015 2016 2017A/F

1,345*

810985*

Strong Balance Sheet and Free Cash Flow

Free Cash Flow

$ Millions

*Excludes the impact of the IRS agreement and restructuring in 2015, excludes restructuring and the proceeds on the sale of Hussmann in 2016 and excludes restructuring in 2017.

~1.2B*

$Mil YE 15 Q1 16 Q2 16 Q3 16 YE 16 Q1 17 Q2 17

Cash 737 613 929 1,505 1,715 1,322 1,310

Debt 4,218 4,473 4,086 4,070 4,070 4,072 4,066

Net Debt 3,481 3,860 3,157 2,565 2,355 2,750 2,756

• Q2 FCF of $414M as expected

• Working capital as a percent of revenue improved 50 bps year-over-year

• Capital expenditures of $44M

• 2017 FCF guidance ~$1.2B

12

Highlights

Dynamic Capital Allocation Focused on Delivering High Returns; 2017 Plan to deploy ~$410M for Dividends and $1.5B for Share Repurchase and Acquisitions

13

Maintain Healthy,

Efficient Balance Sheet

Invest for Growth

Return Capital to

Shareholders

• Preserve liquidity and manage leverage

• Maintain flexibility to invest in growth and evolve with business conditions

• No meaningful debt maturities until 2018

• Target BBB investment grade rating

• Pay a competitive dividend and grow dividend at or above rate of earnings growth over time; ~$205M YTD dividends paid; dividend at $1.60/share, annualized; 20% annual CAGR 2012 to 2017

• Repurchase shares with excess cash when intrinsic value provides high returns; repurchased 7.9M shares for $667M July ytd

• Strengthen the core business and extend product & market leadership

• Invest in new technology and innovation

• Acquire products, channels and business adjacencies where more attractive than growing organically; $65M July ytd channel acquisitions

2

1

3

Guidance

2017 Enterprise Guidance

Prior FY Guidance*

Climate

‒ Revenue Reported

‒ Revenue Organic

~3%

~4%

Adjusted Operating Margin 14.6% to 15.1%

Industrial

‒ Revenue Reported

‒ Revenue Organic

~-2%

~-1%

Adjusted Operating Margin 11.1% to 12.1%

Total

‒ Revenue Reported

‒ Revenue Organic

~2%

~3%

Adjusted Operating Margin 12.4% to 12.8%

Updated FY Guidance*

~5.5%

~5.5%

14.6% to 15.1%

Flat

Flat

11.1% to 12.1%

~4.5%

~4.5%

12.4% to 12.8%* On January 1, 2017, the company adopted Accounting Standard Update (ASU) 2017-07. Non-service pension costs that were previously reported in COGS and SG&A expense are now reported

in other income/expense, net. This has no net impact to EPS. Please refer to table 9 of the news release for additional information.15

2017 Guidance: ~$4.50 Full-year Continuing Adjusted EPS at

top of prior range

Prior FY GuidanceUpdated FY

Guidance

Y-O-Y change in revenue

• Reported

• Organic

~2%

~3%

~4.5%

~4.5%

EPS continuing $4.20 to $4.35 ~$4.22

Restructuring – (add back) ($0.15) ($0.15)

Non-cash tax item – (add back) ($0.13)

EPS continuing – adjusted $4.35 to $4.50 ~$4.50

EPS – discontinued ($0.13) ($0.05)

Share Count – Millions ~261 ~259

Free Cash Flow $1.1B to $1.2B ~$1.2B

Adjusted Tax Rate 21% to 22% 21% to 22%

16

Topics of Interest

Topics of Interest

18

• Currency Impact on 2017

− Expected dollar strength vs 2016 against Euro, Pound and China Yuan (RMB)

weaker than prior guidance

− Full-year currency expected to have minor negative revenue impact; improved from

~1 percentage point in prior guidance

− Expected ~2 cent negative full-year 2017 EPS impact; improved from ~10 cent

negative impact in prior guidance

● Climate Segment Q2 Margin and Leverage

− Climate Q2 organic revenues up 8% YOY

− Operating margin of 16.8% is down 10 basis points primarily due to:

• Material and other inflation

• Unfavorable product mix– decline of high margin Thermo King business

• Margin declines in overseas HVAC businesses primarily tied to lower revenues

Topics of Interest (Continued)

● Non-cash Latin American tax item

− Q2 discrete non-cash tax adjustment of ~$33 million or ($0.13) EPS

− Related to impairment of deferred tax assets, primarily net operating loss

carryforwards, in Latin America

− Deferred tax assets remain available for future use when markets turn profitable

19

20

Summary: 2017 Expected to be Another Strong Year With Top-Quartile Performance

• Continued strong Q2 results indicative of successful execution of our strategy and performance of our business operating system

• Healthy end markets, continued market share gains and operating margin improvements expected in 2H 2017

• Robust volume/revenue performance enabling delivery of strong 2017 results while maintaining high levels of business investment supporting longer term growth/profitability

• Industrial business on track and delivering steady consistent improvement

• Raising revenue and EPS guidance for 2017; free cash flow greater than or equal to 100% of net income

• Balanced capital allocation through 1H 2017; full year 2017 plans unchanged

− ~$410M in dividends

− ~$1.5B between share repurchases and acquisitions

Appendix

Q2 Organic Revenue Up 7% Year-Over-Year

Reported2015 2016 2017

Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2

Climate 6% 2% 4% 2% 3% 3% 4% 3% 3% 3% 5% 7%

Industrial 7% (1%) (2%) 5% 2% (7%) (4%) Flat (4%) (4%) (1%) 1%

Total 6% 2% 3% 3% 3% Flat 2% 2% 1% 2% 4% 6%

2013

Organic* 2015 2016 2017

Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2

Climate 9% 5% 8% 5% 7% 4% 5% 3% 4% 4% 6% 8%

Industrial 4% (4%) (2%) (2%) (1%) (5%) (3%) 1% (3%) (3%) 1% 2%

Total 8% 3% 6% 3% 5% 2% 3% 3% 2% 3% 4% 7%

*Organic revenues excludes acquisitions and currency22

0%

-4%

9%

Reported

Organic*

*Organic revenues excludes acquisitions and currency

9%

-1%

3%

Q2 Revenue Up 6% and Organic Up 7%

7%

8%

2%

Climate

Industrial

ReportedOrganic*

1%

Segment Revenue Change

Geographic Revenue Change

Americas

Europe, Middle

East, Africa

Asia

N. America Organic +10%

23

Q2 2017 Year-Over-Year Revenue Change

Reported Organic*

Climate

- Commercial HVAC + Mid-single + Mid-single

- Residential HVAC + High-teen + High-teen

- Transport - Low-single - Low-single

Total Climate + 7% + 8%

Industrial

- Compression-related Products + Low-single + Low-single

- Industrial Products + Low-single + Low-single

- Small Electric Vehicle + Low-single + Low-single

Total Industrial + 1% + 2%

Total Company + 6% + 7%

24*Organic revenues excludes acquisitions and currency

E n t e r p r i s e

Volume and Cost Reduction Initiatives Offset by Inflation Headwinds and Investments

• Volume and productivity initiatives driving margin expansion

• Continued investment in products, while expanding channels

Highlights

13.9% 0.6 (0.2) 14.3%

2Q 2016 Volume / Mix / FX Price/Material Inflation Productivity/OtherInflation

Investment/Other 2Q 2017

0.5 (0.5)

(0.2) Investment

+40 bps

GAAP Operating

Margin

GAAP Operating

Margin

25

Non-GAAP Measures Definitions

Organic revenue is defined as GAAP net revenues adjusted for the impact of currency and acquisitions. Organic bookings is defined

as reported orders closed/completed in the current period adjusted for the impact of currency and acquisitions.

• Currency impacts on net revenues and bookings are measured by applying the prior year’s foreign currency exchange rates to the

current period’s net revenues and bookings reported in local currency. This measure allows for a direct comparison of operating

results excluding the year-over-year impact of foreign currency translation.

Adjusted operating income is defined as GAAP operating income plus restructuring expenses. Please refer to the reconciliation of

GAAP to non-GAAP measures on tables 3 and 4 of the news release.

Adjusted operating margin is defined as the ratio of adjusted operating income divided by net revenues.

In 2017 Adjusted continuing EPS is defined as GAAP continuing EPS plus restructuring expenses, net of tax impacts, plus the discrete

non-cash tax adjustment in Latin America. In 2016 Adjusted continuing EPS is defined as GAAP continuing EPS plus restructuring

expenses, less the gain from the sale of the company’s remaining interest in Hussmann, net of tax impacts. Please refer to the

reconciliation of GAAP to non-GAAP measures on tables 3 and 4 of the news release.

Cash flow return on invested capital is defined as annual free cash flow divided by the sum of gross fixed assets, receivables and

inventory less accounts payables

Free cash flow is defined as net cash provided by operating activities, less capital expenditures, plus cash payments for restructuring.

Please refer to the free cash flow reconciliation on table 8 of the news release.

26

Non-GAAP Measures Definitions

Working capital measures a firm’s operating liquidity position and its overall effectiveness in managing the enterprises’ current

accounts.

• Working capital is calculated by adding net accounts and notes receivables and inventories and subtracting total current

liabilities that exclude short term debt, dividend payables and income tax payables.

• Working capital as a percent of revenue is calculated by dividing the working capital balance (e.g. as of June 30) by the

annualized revenue for the period (e.g. reported revenues for the three months ended June 30) multiplied by 4 to annualize for

a full year).

Adjusted effective tax rate for 2017 is defined as the ratio of income tax expense, plus or minus the tax effect of adjustments for

restructuring costs and the discrete non-cash tax adjustment in Latin America, divided by earnings from continuing operations

before income taxes plus restructuring expenses. Adjusted effective tax rate for 2016 is defined as the ratio of income tax

expense, plus or minus the tax effect of adjustments for restructuring costs and the gain on sale of Hussmann interest, divided

by earnings from continuing operations before income taxes less the gain on sale of Hussmann interest plus restructuring

expenses. This measure allows for a direct comparison of the effective tax rate between periods.

Adjusted OI + D&A is defined as adjusted operating income plus depreciation and amortization expense.

Operating leverage is defined as the ratio of the change in adjusted operating income for the current period (e.g. Q2 2017) less

the prior period (e.g. Q2 2016), divided by the change in net revenues for the current period less the prior period.

27

28