2020 ANNUAL REPORT

2020 ANNUAL REPORT2020 SHAREOWNERS LETTERAs the early weeks of 2020 unfolded, it quickly became clear that we were going to face challenges unlike any thecompany had encountered in our history and hopefully, never will again. COVID-19 spread from nation to nation,key end markets faltered, and we had to quickly adjust our cost base to maintain our footing. I frequently say to myteam that while easy economic conditions are far more fun than what we had to go through in 2020, it s the toughestconditions that test us the most and enable us to grow stronger as leaders. In the face of the pandemic one of themost disruptive events ever to affect our business I could not be prouder of Honeywell s team and how weresponded to extremely difficult has earned a reputation for its ability to deliver in all economic cycles.

in December. Sparta brings to our portfolio an artificial intelligence-enabled enterprise quality management software offering, including a next-generation SaaS platform. Sparta also enhances our strong position in life sciences. Sparta has a high degree of synergy with our Process Solutions and Honeywell Connected Enterprise businesses, and we

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