Whirlpool : 2024 Proxy Statement

PROXY SUMMARY

Proxy Summary

This summary highlights information contained elsewhere in the proxy statement. This summary provides an overview and is not intended to contain all the information that you should consider before voting. We encourage you to read the entire proxy statement for more detailed information on each topic prior to casting your vote.

GENERAL INFORMATION

• Meeting: Annual Meeting of Stockholders
• Date: Tuesday, April 16, 2024
• Time: 8:00 a.m., Central Time
• Location: 331 North LaSalle, Chicago, Illinois
• Record Date: February 16, 2024
• Stock Symbol: WHR
• Exchanges: NYSE & NYSE Chicago
• Common Stock Outstanding as of the Record Date: 54,462,065 shares
• Registrar & Transfer Agent: Computershare Trust Company, N.A.
• Corporate Website: www.whirlpoolcorp.com

2023 COMPANY PERFORMANCE HIGHLIGHTS *

The Company drove approximately $800 million of cost take out, and our improved supply chain performance and strong commercial execution delivered one point of North America share gains while at the same time we faced an increasingly competitive environment around the globe, geopolitical challenges, and softening demand in Europe. We advanced our portfolio transformation, with an agreement to contribute our European major domestic appliance business to a newly formed company with Arçelik A.S¸ . We also repaid $500 million of our term loan and returned almost $400 million in dividends to shareholders.

• See page 28 for details of the Company's results for the 2023 fiscal year. Please also see Annex A for a reconciliation of non-GAAP financial measures.

The proxy statement and annual report are available at www.proxyvote.com

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PROXY SUMMARY

OVERVIEW OF VOTING MATTERS

Board

recommendation

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE HIGHLIGHTS

Additional information about the Company's ESG initiatives can be found on pages 19-21.

Environmental

• Delivered a 25% reduction in total GHGs (scopes 1 and 2 market-based) when compared to 2022
• Reduced emissions from our products in use (scope 3, category 11) by 7%
• Completed more than 650 projects aimed at reducing our GHG footprint and entered into agreements to add more onsite wind and solar power to our Findlay and Clyde, Ohio operations
• Obtained Zero Waste to Landfill (ZWtL) Gold or Platinum (a greater than 95% diversion rate) at all of our large global manufacturing sites, including the two newly added InSinkErator facilities

Social

• Introduced the Global House+Home Ambassador Program
• Over 1,400 People Leaders in Latin America, Europe, Middle East, and Africa, and Asia participated in the multi- module Unconscious Bias and Empathy program, which was completed by all U.S. People Leaders in 2022
• Improved gender representation, underrepresented minority representation, and black representation across all employees of the Company
• Celebrated opening of Whirlpool-funded Emma Jean Hull Flats, an 80-unitmarket-rate housing development in Benton Harbor
• Built 143 climate-resilient and energy-efficient homes through the BuildBetter with Whirlpool initiative

Governance

• Maintained Board diversity (7 out of 11 independent directors standing for re-election are gender or racially/ ethnically diverse)
• Developed the Living Code - an interactive tool that helps employees apply ethical decision-making in their day-to-day work
• Introduced a "Global Integrity Quarter" to train employees and leaders on our Integrity Value
• Led 36 industry technical committees to strengthen marketplace product safety standards

1. ⎜Notice of Annual Meeting of Stockholders and 2024 Proxy Statement

PROXY SUMMARY

DIRECTOR NOMINEES

Additional details about each of the director nominees can be found beginning on page 1.

1. MICHAEL D. WHITE (CURRENTLY AUDIT COMMITTEE CHAIR) AND PATRICIA K. POPPE ARE NOT STANDING FOR RE-ELECTION.

TENURE, EXPERIENCE, AND DIVERSITY

Our Board of Directors reflects an effective mix of business expertise, company knowledge, and diverse perspectives.

6-10 Years

4

Notice of Annual Meeting of Stockholders and 2024 Proxy Statement ⎜iii

PROXY SUMMARY

COMPENSATION HIGHLIGHTS

The Compensation Discussion & Analysis ("CD&A") section beginning on page 28 includes the following highlights:

OUR COMPENSATION PHILOSOPHY: PAY FOR PERFORMANCE

Whirlpool employs a pay-for-performance philosophy under which a significant portion of pay is performance-based and tied to the drivers of long-term stockholder value, including both business results and individual performance. The majority of 2023 CEO and Named Executive Officer ("NEO") target compensation consisted of at-risk pay, as demonstrated in the illustration below.

Executive Compensation Pay Mix

1. ⎜Notice of Annual Meeting of Stockholders and 2024 Proxy Statement

ITEM 1 - ELECTION OF DIRECTORS

Item 1 - Directors and Nominees

for Election as Directors

We currently have 12 directors on the Board who are standing for election or re-election and, if elected, will serve until our next annual meeting of stockholders and stand for re-election annually (subject to our retirement policy). Each of the nominees below has consented to be a nominee named in this proxy statement and to serve if elected. We have described the skills and experiences below that we believe will allow directors to provide critical insights on the Company's strategic imperatives and make significant contributions to board deliberations. In the matrix on the pages that follow, we have highlighted the skills and attributes and gender and race/ethnicity self-identified by each director nominee.

Senior Leadership Roles at Large/Complex Organizations

Directors with leadership experience at organizations with operational scale and complexity similar to Whirlpool are equipped to evaluate our enterprise strategy and progress against strategic goals.

Global Business Operations/International Work Experience

Directors with global and international business experience understand the challenges and opportunities of a global footprint and have unique cultural and consumer insight aligned with Whirlpool's global scope.

Corporate Strategy/M&A

Directors with strategy and M&A expertise provide critical insights in evaluating value creation opportunities as part of Whirlpool's portfolio transformation.

Sales/Marketing/Brand Management

Directors with experience in distribution strategy, trade relationships, marketing, including digital marketing, and brand management provide critical insights on these key drivers of our profitable growth.

Product Development/Innovation/Engineering

Directors with innovation and product development experience possess the expertise to effectively oversee our innovation strategy, unlock new growth opportunities, and respond to evolving consumer preferences.

Global Supply Chain/Manufacturing/Logistics

Directors with supply chain management experience provide effective oversight of our global sourcing strategy focused on diversification, cost management, and sustainability as we build and maintain a competitive and resilient supply chain.

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