Trane Technologies Archetype 3 Industry EmployeesIndustrial machinery manufacturing of heating, ventilation and air-conditioning and refrigeration systems 40,000+ Case maturity Fully-scaled solution Implementation challenges –Lack of customer awareness of the benefits and availability of circular solutions. –High market saturation from third-party rental businesses. –Access to useable second-life equipment to buy back and repair for use in the North America rental fleet. Enabling strategies –Clear communication of customer benefits to accelerate demand, including perceived environmental benefits, access to up-to-date technology, lower cost of ownership and product regulatory support given ever-changing chiller efficiency regulations in the EMEA; equipment-as-a-service offering. –Leveraging in-house expertise and capabilities in product knowledge and repairs provides a competitive advantage over third-party rental businesses. –Remote connection to rental devices helps to increase device lifetime utilization and reduce maintenance cost. By adopting predictive maintenance, Trane Technologies can mitigate issues before they affect productivity, often without on-site support. Trane Technologies started its North America rental business in 1992, and in Europe, Middle East and Africa (EMEA) in 2011, under the Trane strategic brand, to service customers with seasonal needs who were challenged by ever-changing product efficiency regulations. Today, the rental fleet has grown over 10% year-on-year in the past three years. In addition to renting chillers to all industry types – including data centre, power generation, healthcare, retail, events and more – Trane Technologies repairs, refurbishes and upgrades devices, a service that is not limited to the rental fleet but expands to life extension services for all customers. To gain access to parts and second-life components for its rental fleet, Trane repurchases used heating and cooling systems from customers. Trane Technologies has also started to establish remote connections to increase the useful life of its devices through remote maintenance. Their circularity ambitions are an integral part of their sustainability commitments, aiming to reduce 1 billion tonnes of customers’ GHG emissions, and reduce total embodied carbon by 40% by 2030. Circular Transformation of Industries: Unlocking Economic Value 27

Circular Transformation of Industries 2025