Johnson Controls (JCI) Prices $700M Notes Offering

Johnson Controls (NYSE: JCI) today announced the pricing of its offering of $700 million senior notes due 2029. The net proceeds will be used for general corporate purposes, including the repayment, redemption or refinancing of outstanding commercial paper and other near-term indebtedness. General corporate purposes may also include acquisitions, additions to working capital, repurchase of ordinary shares, dividends, capital expenditures and investments in JCI's subsidiaries.

Tyco Fire & Security Finance, S.C.A., a subsidiary of the Company, is a co-issuer of the notes. The closing for the transaction is expected to occur on April 19, 2024, subject to certain customary closing conditions.

Citigroup, J.P. Morgan, Morgan Stanley, TD Securities, BofA Securities, Barclays, Credit Agricole CIB, ING and US Bancorp are serving as joint book-running managers to facilitate the transaction. ANZ Securities, BBVA, Danske Markets, Deutsche Bank Securities, ICBC Standard, Siebert Williams Shank, Standard Chartered Bank and UniCredit Capital Markets are serving as co-managers of the offering.

The offering of the notes is being made pursuant to an effective shelf registration statement, prospectus and related prospectus supplement. Copies of the prospectus supplement and the base prospectus may be obtained by contacting Citigroup Global Markets Inc. toll-free at (800) 831-9146; J.P. Morgan Securities LLC collect at (212) 834-4533; Morgan Stanley & Co. LLC toll-free at (866) 718-1649; or TD Securities (USA) LLC toll-free at (855) 495-9846. Investors may also obtain these documents for free by visiting EDGAR on the Securities and Exchange Commission's website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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