NewsMay 04, 2020

Caterpillar contact:
Bridget M. Young
Global Government & Corporate Affairs
Office: 309-675-8463
Mobile: 309-648-7254
Email: Young_Bridget_M@cat.com
FOR IMMEDIATE RELEASE

Caterpillar Reports Progress on Enterprise Strategy, Sustainability
2019 Annual Report and Sustainability Report available online
DEERFIELD, Ill. – Caterpillar Inc. (NYSE: CAT) is illustrating how it’s helping
customers build a better world in its recently published 2019 Annual Report and Sustainability
Report.
To read the reports, visit http://caterpillar.com/reports.
“These reports demonstrate the execution of our enterprise strategy to deliver innovative
products and services to make our customers more successful,” said Caterpillar Chairman andCEO Jim Umpleby. “As we prepared the reports, COVID-19 became a global pandemic,presenting new challenges around the world. Because our customers help meet society’sinfrastructure, energy and resource needs both during the pandemic and beyond, our dedication
to creating a more sustainable future is more important than ever.”The Annual Report illustrates how Caterpillar is executing its strategy to create value forshareholders, employees and customers. Highlights from 2019 include:•Continued execution of our enterprise strategy for profitable growth, with a strong
focus on operational excellence, expanded offerings and services with customers at thecenter of our purpose.

•Strong operational performance, including an operating profit margin of 15.4%.

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Return of $6.2 billion to shareholders, including $4.0 billion in share repurchases andraising the quarterly dividend by 20%.

•Relentless focus on services, resulting in a 2% increase toward our goal to double ourMachinery, Energy & Transportation services revenues between 2016 and 2026.

The 2019 Sustainability Report, prepared in alignment with Sustainability AccountingStandards Board (SASB) criteria for the first time, underscores how Caterpillar is providing
value to customers by making sustainable progress possible through its operations, products,
services and solutions that make safe, productive and efficient use of resources. Highlights from2019 include:•Dedication to the safety, health and well-being of our employees, resulting in our bestsafety performance on record.

•Providing services that transform traditional product support in ways that reduce
environmental footprint, while providing innovative support to customers.

•Delivering expanded offerings in innovative and sustainable ways.

•Focusing on operational excellence, which translates to lean and efficient operations in
the communities we serve.

•Continued progress on our 2020 goals, already achieving several in the areas of safety,
energy efficiency, greenhouse gas emissions and managed fleet hours, with work
underway to set future goals.

Click to Tweet: Caterpillar Helps Customers Build a Better World https://bit.ly/35wkat0

About Caterpillar
Since 1925, Caterpillar Inc. has been helping our customers build a better world – making
sustainable progress possible and driving positive change on every continent. With 2019 sales
and revenues of $53.8 billion, Caterpillar is the world’s leading manufacturer of construction andmining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric
locomotives. Services offered throughout the product life cycle, cutting-edge technology anddecades of product expertise set Caterpillar apart, providing exceptional value to help ourcustomers succeed. The company principally operates through three primary segments –Construction Industries, Resource Industries and Energy & Transportation – and provides
financing and related services through its Financial Products segment. For more information,
visit caterpillar.com. To connect on social media, visit caterpillar.com/social-media.

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-3-Forward-looking Statements
Certain statements in this press release relate to future events and expectations and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,”“will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “forecast,” “target,” “guide,” “project,” “intend,” “could,”“should” or other similar words or expressions often identify forward-looking statements. All statements other thanstatements of historical fact are forward-looking statements, including, without limitation, statements regarding ouroutlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance andspeak only as of the date they are made, and we do not undertake to update our forward-looking statements.
Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements
based on a number of factors, including, but not limited to: (i) global and regional economic conditions andeconomic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations
in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv)political and economic risks, commercial instability and events beyond our control in the countries in which weoperate; (v) international trade policies and their impact on demand for our products and our competitive position,including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce andmarket quality products that meet our customers’ needs; (vii) the impact of the highly competitive environment inwhich we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix)inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure torealize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi)union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions orvolatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers andsuppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing andadverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial
Products segment’s risks associated with the financial services industry; (xvi) changes in interest rates or market
liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial’s customers;(xviii) currency fluctuations; (xix) our or Cat Financial’s compliance with financial and other restrictive covenants
in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade oranti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. taxreform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations
or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; and (xxvi)
other factors described in more detail in Caterpillar’s Forms 10-Q, 10-K and other filings with the Securities andExchange Commission.

Caterpillar Public Release#