<SEC-DOCUMENT>0001140361-26-008095.txt : 20260305
<SEC-HEADER>0001140361-26-008095.hdr.sgml : 20260305
<ACCEPTANCE-DATETIME>20260305171530
ACCESSION NUMBER:		0001140361-26-008095
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20260305
DATE AS OF CHANGE:		20260305

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Corp plc
		CENTRAL INDEX KEY:			0001551182
		STANDARD INDUSTRIAL CLASSIFICATION:	MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590]
		ORGANIZATION NAME:           	06 Technology
		EIN:				981059235
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-281174
		FILM NUMBER:		26727372

	BUSINESS ADDRESS:	
		STREET 1:		30 PEMBROKE ROAD
		STREET 2:		EATON HOUSE
		CITY:			DUBLIN
		STATE:			L2
		ZIP:			DUBLIN 4
		BUSINESS PHONE:		353 1637 2900

	MAIL ADDRESS:	
		STREET 1:		30 PEMBROKE ROAD
		STREET 2:		EATON HOUSE
		CITY:			DUBLIN
		STATE:			L2
		ZIP:			DUBLIN 4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Eaton Corp Ltd
		DATE OF NAME CHANGE:	20120530

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Eaton Corp plc
		CENTRAL INDEX KEY:			0001551182
		STANDARD INDUSTRIAL CLASSIFICATION:	MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590]
		ORGANIZATION NAME:           	06 Technology
		EIN:				981059235
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		30 PEMBROKE ROAD
		STREET 2:		EATON HOUSE
		CITY:			DUBLIN
		STATE:			L2
		ZIP:			DUBLIN 4
		BUSINESS PHONE:		353 1637 2900

	MAIL ADDRESS:	
		STREET 1:		30 PEMBROKE ROAD
		STREET 2:		EATON HOUSE
		CITY:			DUBLIN
		STATE:			L2
		ZIP:			DUBLIN 4

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Eaton Corp Ltd
		DATE OF NAME CHANGE:	20120530
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>ef20067290_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
         Document created using Broadridge PROfile 26.2.1.5339
         Copyright 1995 - 2026 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">


  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  <div>
    <div style="text-align: right; font-weight: bold;">Filed Pursuant to Rule 433</div>
    <div style="text-align: right; font-weight: bold;">Registration Statement No. 333-281174</div>
    <div style="text-align: right; font-weight: bold;">Issuer Free Writing Prospectus dated March 5, 2026</div>
    <div style="text-align: right; font-weight: bold;">Relating to Preliminary Prospectus Supplement dated March 5, 2026</div>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">EATON CAPITAL UNLIMITED COMPANY</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">Pricing Term Sheet</div>
    <div>&#160;</div>
    <div style="text-align: center;">&#8364;600,000,000 3.550% Notes due 2034</div>
    <div style="text-align: center;">&#8364;600,000,000 4.000% Notes due 2038</div>
    <div><br>
    </div>
    <div style="text-align: justify;">This pricing term sheet is qualified in its entirety by reference to the Preliminary Prospectus Supplement, dated March 5, 2026, relating to the offering of &#8364;600,000,000
      3.550% Notes due 2034 (the &#8220;2034 Notes&#8221;) and &#8364;600,000,000 4.000% Notes due 2038 (the &#8220;2038 Notes&#8221; and, collectively with the 2034 Notes, the &#8220;Notes&#8221;) by Eaton Capital Unlimited Company (the &#8220;Preliminary Prospectus Supplement&#8221;).&#160; The information in
      this pricing term sheet supplements the Preliminary Prospectus Supplement and updates and supersedes the information in the Preliminary Prospectus Supplement to the extent it is inconsistent with the information in the Preliminary Prospectus
      Supplement.&#160; Terms used and not defined herein have the meanings assigned in the Preliminary Prospectus Supplement.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="4" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z94107654d91e42d2bbb943ef221fc5ba" class="cfttable">

        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Issuer:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px; width: 70%;">
            <div>Eaton Capital Unlimited Company</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Guarantors:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>As described in the Preliminary Prospectus Supplement</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Maturity Date:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>The 2034 Notes will mature on March 10, 2034.</div>
            <div> <br>
            </div>
            <div>The 2038 Notes will mature on March 10, 2038.</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Currency:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>EUR</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Principal Amount:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: &#8364;600,000,000</div>
            <div> <br>
            </div>
            <div>2038 Notes: &#8364;600,000,000</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Status:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Senior, Unsecured</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Format:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>SEC Registered</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Interest Rate:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>The 2034 Notes will bear interest at 3.550% per annum.</div>
            <div> <br>
            </div>
            <div>The 2038 Notes will bear interest at 4.000% per annum.</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Benchmark German Government Security:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: DBR 2.200% due February 15, 2034</div>
            <div> <br>
            </div>
            <div>2038 Notes: DBR 4.000% due January 4, 2037</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Benchmark German Government Security Price/Yield:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 96.44; 2.704%</div>
            <div> <br>
            </div>
            <div>2038 Notes: 110.08; 2.901%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Spread to German Government Security:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 86.8 bps</div>
            <div> <br>
            </div>
            <div>2038 Notes: 110.7 bps</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Mid-Swap Yield:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 2.742%</div>
            <div> <br>
            </div>
            <div>2038 Notes: 2.928%</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="4" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">

        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%; border-top: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Mid-Swap Maturity:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0) rgb(0, 0, 0) rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 8-year</div>
            <div> <br>
            </div>
            <div>2038 Notes: 12-year</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Spread to Mid-Swap:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 83 bps</div>
            <div> <br>
            </div>
            <div>2038 Notes: 108 bps</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Yield to Maturity:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 3.572%</div>
            <div> <br>
            </div>
            <div>2038 Notes: 4.008%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Price to Public:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: 99.849% of the principal amount</div>
            <div> <br>
            </div>
            <div>2038 Notes: 99.925% of the principal amount</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Interest Payment Dates:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Interest on the 2034 Notes will be payable annually on March 10, beginning March 10, 2027.</div>
            <div> <br>
            </div>
            <div>Interest on the 2038 Notes will be payable annually on March 10, beginning March 10, 2027.</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Business Days:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>TARGET, New York</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Optional Redemption:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: German Government Security Yield Rate plus 15 bps at any time prior to December 10, 2033 (three months prior to maturity); par call at any time on or
              after December 10, 2033</div>
            <div> <br>
            </div>
            <div>2038 Notes: German Government Security Yield Rate plus 20 bps at any time prior to December 10, 2037 (three months prior to maturity); par call at any time on or
              after December 10, 2037</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 30%; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Expected Issue Ratings (Moody&#8217;s / S&amp;P)*:</div>
          </td>
          <td style="vertical-align: top; width: 70%; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1" class="cftnumcell">
            <div>A3 / A-</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">ISIN/Common Code:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>2034 Notes: XS3309643594 / 330964359</div>
            <div> <br>
            </div>
            <div>2038 Notes: XS3309644568 / 330964456</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Settlement:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div style="color: #000000;">Euroclear / Clearstream, Luxembourg</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Paying Agent:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>The Bank of New York Mellon, London Branch</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Trustee and Security Registrar:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>The Bank of New York Mellon Trust Company, N.A.</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Change of Control Triggering Event:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Issuer required to make an offer to repurchase at 101% if a Change of Control Triggering event occurs</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Denomination:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div style="color: #000000;">&#8364;100,000 and integral multiples of &#8364;1,000 in excess thereof</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Form of Notes:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Registered Form, New Safekeeping Structure</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Expected Listing:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Application will be made to list the Notes on the New York Stock Exchange</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Day Count Fraction:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Actual / Actual (ICMA)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Trade Date:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>March 5, 2026</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <table cellspacing="0" cellpadding="4" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" class="cfttable">

        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%; border-top: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Settlement Date**:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0) rgb(0, 0, 0) rgb(0, 0, 0); width: 70%;">
            <div>March 10, 2026 (T+3)</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Joint Book- Running Managers:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Barclays Bank PLC</div>
            <div>BofA Securities Europe SA</div>
            <div>Citigroup Global Markets Limited</div>
            <div>J.P. Morgan Securities plc</div>
            <div>Morgan Stanley &amp; Co. International plc</div>
            <div>BNP PARIBAS</div>
            <div>Deutsche Bank Aktiengesellschaft</div>
            <div>Goldman Sachs &amp; Co. LLC</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">Co-Managers:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div>Academy Securities, Inc.</div>
            <div>BNY Mellon Capital Markets, LLC</div>
            <div>HSBC Continental Europe</div>
            <div>KeyBanc Capital Markets Inc.</div>
            <div>Loop Capital Markets LLC</div>
            <div>PNC Capital Markets LLC</div>
            <div>TD Global Finance unlimited company</div>
            <div>Truist Securities, Inc.</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); width: 30%;">
            <div style="font-weight: bold;">U.S. Notes Offering:</div>
          </td>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); width: 70%;">
            <div style="text-align: justify;">Prior to this offering, we priced the issuance of an offering (the &#8220;U.S. Notes Offering&#8221;) of U.S. dollar-denominated senior notes to be issued by Eaton
              Corporation and guaranteed by Eaton Corporation plc, Eaton Capital Unlimited Company and certain other of our subsidiaries that will also guarantee the Notes, consisting of U.S.$1.5 billion aggregate principal amount of 3.850% Notes due 2028,
              U.S.$1.5 billion aggregate principal amount of 3.950% Notes due 2029, U.S.$1.5 billion aggregate principal amount of 4.200% Notes due 2031, U.S.$1.0 billion aggregate principal amount of 4.500% Notes due 2033, U.S.$2.0 billion aggregate
              principal amount of 4.800% Notes due 2036 and U.S.$1.0 billion aggregate principal amount of 5.450% Notes due 2056 (collectively, the &#8220;U.S. Notes&#8221;), the proceeds of which we intend to use for general corporate purposes, including to
              consummate the previously disclosed acquisition of Boyd Thermal. The closing of the U.S. Notes Offering is subject to customary closing conditions and there can be no assurance that the U.S. Notes Offering will be completed. The settlement of
              this offering is not conditioned upon settlement of the U.S. Notes Offering or vice versa. The U.S. Notes Offering was made pursuant to a separate prospectus supplement. Nothing in this pricing term sheet shall constitute an offer to purchase
              U.S. Notes.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; font-weight: bold;">* Note:&#160; A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; font-weight: bold;">This pricing term sheet is not intended for retail investors in member states of the European Economic Area (&#8220;EEA&#8221;).&#160; For these purposes, a retail
      investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU, as amended (&#8220;EU MiFID II&#8221;);&#160; or (ii) a customer within the meaning of Directive 2016/97/EU, where that customer
      would not qualify as a professional client as defined in point (10) of Article 4(1) of EU MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the &#8220;EU PRIIPs Regulation&#8221;) for offering or selling
      the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the EU PRIIPs
      Regulation.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">This pricing term sheet is not intended for retail investors in the UK.&#160; For these purposes, a retail investor means a person who is neither (i) a
      professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 nor (ii) not a qualified investor as defined in paragraph 15 of
      Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024. Consequently, no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the European Union Withdrawal Act 2018 (the
      &#8220;UK PRIIPs Regulation&#8221;) for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the
      UK may be unlawful under the UK PRIIPs Regulation.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">EU MIFID II PRODUCT GOVERNANCE / Professional investors and ECPs only target market - Solely for the purposes of each manufacturer&#8217;s product approval
      process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in EU MiFID II; and (ii) all channels for
      distribution of the Notes to eligible counterparties and professional clients are appropriate.&#160; Any person subsequently offering, selling or recommending the notes (a &#8220;distributor&#8221;) should take into consideration the manufacturers&#8217; target market
      assessment; however, a distributor subject to EU MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers&#8217; target market assessment) and determining appropriate
      distribution channels.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">In the European Economic Area, the communication of this pricing term sheet is only addressed to, and is directed at, persons and legal entities in
      member states of the European Economic Area who are &#8220;qualified investors&#8221; as defined in Regulation (EU) 2017/1129, as amended.&#160; This pricing term sheet must not be acted on or relied on in any member state of the European Economic Area by persons who
      are not qualified investors.&#160; Any investment or investment activity to which this announcement relates is available only to qualified investors in any member state of the European Economic Area.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">UK MiFIR PRODUCT GOVERNANCE / Professional investors and ECPs only target market &#8211; Solely for the purposes of the manufacturer&#8217;s product approval
      process, the target market assessment in respect of the Notes has led to the conclusion that: (i) the target market for the Notes is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional
      clients, as defined in UK MiFIR; and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate.&#160; Any distributor should take into consideration the manufacturer&#8217;s target market assessment;
      however, a distributor subject to the FCA Handbook Product Intervention and Product Governance Sourcebook is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer&#8217;s
      target market assessment) and determining appropriate distribution channels.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; font-weight: bold;">In the United Kingdom, the communication of this pricing term sheet is only addressed to, and is directed at, persons and legal entities who are
      &#8220;qualified investors&#8221; as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">The communication of this pricing term sheet is only being distributed to and is only directed at (1) investment professionals falling within Article
      19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the &#8220;Order&#8221;), (2) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order, or (3)
      persons who are outside the United Kingdom or to whom an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act 2000 (as amended, the &#8220;FSMA&#8221;)) in connection with the issue
      or sale of any securities of the Issuer may otherwise lawfully be communicated or be caused to be communicated (all such persons together being referred to as &#8220;Relevant Persons&#8221;).&#160; In the United Kingdom, any investment or investment activity to which
      the communication of this pricing term sheet relates is only available to, and the Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant
      Persons.&#160; Any person in the United Kingdom who is not a Relevant Person should not act or rely on this communication or any of its contents.&#160; The securities referenced in this pricing term sheet are not being offered to the public in the United
      Kingdom.&#160; Each recipient also represents and agrees that it has complied and will comply with all applicable provisions of the FSMA, with respect to anything done by it in relation to any securities referenced in this communication in, from or
      otherwise involving the United Kingdom.&#160; The communication of this pricing term sheet shall not constitute an offer to sell or the solicitation of any offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which
      such offer, solicitation or sale would be unlawful prior to the registration or qualification of such securities under the securities law of any such jurisdiction.&#160; This communication of this pricing term sheet does not constitute a prospectus drawn
      up in compliance with the FCA Handbook Prospectus Rules:&#160; Admission to Trading on a Regulated Market sourcebook.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">Relevant stabilization regulations including FCA/ICMA will apply.</div>
    <div>&#160;</div>
    <div style="text-align: justify; font-weight: bold;">The Issuer has filed a registration statement, including a prospectus and the Preliminary Prospectus Supplement, with the Commission for the offering
      to which this communication relates.&#160; Before you invest, you should read the prospectus and the Preliminary Prospectus Supplement in that registration statement and other documents the Issuer has filed with the Commission for more complete
      information about the Issuer and this offering.&#160; You may obtain these documents for free by visiting EDGAR on the Commission&#8217;s website at <font style="font-style: italic;">www.sec.gov</font>.&#160;
      Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the Preliminary Prospectus Supplement (or, if available, the prospectus supplement) if you request it by contacting <a name="z_Hlk221615981"></a>Barclays Bank PLC by telephone at 888-603-5847; BofA Securities Europe SA by telephone at 1-800-294-1322; Citigroup Global Markets Limited by telephone at 1-800-831-9146; J.P. Morgan Securities plc by telephone at collect
      1-212-834-4533; or Morgan Stanley &amp; Co. International plc by telephone at 1-866-718-1649.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify;"><font style="font-weight: bold;">** It is expected that delivery of the Notes will be made against payment therefor on
        or about the closing date specified herein, which will be the third business day following the date of pricing of the Notes (this settlement cycle being referred to as &#8220;T+3&#8221;).&#160; Under Rule 15c6-1 of the Exchange Act, trades in the secondary market
        generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise.&#160; Accordingly, purchasers who wish to trade Notes prior to the business day preceding the Settlement Date, by virtue of the fact
        that the Notes initially will settle in T+3 to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement.</font>&#160; <font style="font-weight: bold;">Purchasers
        of Notes who wish to trade Notes prior to the business day preceding the Settlement Date should consult their own advisors.</font></div>
    <div>&#160;</div>
    <div style="font-weight: bold;">ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED.&#160; SUCH DISCLAIMERS OR OTHER
      NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.</div>
    <div>&#160;</div>
  </div>
  <div><br>
  </div>
  <div>
    <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>


</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
