-- Funding will expand access to workforce training, define skills needed for future jobs and connect more people to modern manufacturing careers

-- Sanford Area Growth Alliance and Central Carolina Community College launch statewide workforce initiative in Sanford

Caterpillar Inc. (NYSE: CAT) expanded its workforce commitment to North Carolina, the most recent investment for its five-year, $100 million Building the Future Workforce Initiative. With an allocation of up to $10 million, the funding aims to prepare current and future workers for jobs in modern manufacturing and industry technician roles.

"Investing in people is essential to building the workforce advanced manufacturing will need for the future," said Christy Pambianchi, Caterpillar's chief human resources officer. "North Carolina's growth creates an opportunity to help more people build the skills they need for careers in manufacturing and strengthen the workforce that will support the industry for years to come."

Why North Carolina?As a critical manufacturing hub, North Carolina is a natural fit for this investment. Caterpillar employs more than 3,600 people in North Carolina, has a strong dealer network and works with 325 suppliers across the state.

"North Carolina is home to the largest manufacturing workforce in the Southeast, and Caterpillar recognizes what our state brings to the table," said North Carolina Gov. Josh Stein. "I thank Caterpillar for its long-standing partnership and look forward to more economic opportunity coming to Sanford."

Caterpillar recently announced plans to invest approximately $1 billion in North Carolina to expand manufacturing capacity for products that support its growing Cat Compact(TM) business, which provides compact equipment solutions for small contractors and growing businesses. The investment includes plans for a new modern manufacturing facility in Sanford, designed to increase production of compact track loaders and telehandlers to meet customer demand. The project supports the company's Cat Compact approach, focused on making its equipment and solutions easier for customers to access.

Also in North Carolina, Caterpillar's Clayton facility manufactures small wheel loaders and supports the distribution of backhoe loaders. Together, these operations help Caterpillar serve customers while advancing manufacturing excellence, innovation, workforce development and economic growth across the state.

Caterpillar is collaborating with leading North Carolina organizations, like Central Carolina Community College and the Sanford Area Growth Alliance, to advance the Building the Future Workforce Initiative. The program aims to expand hands-on manufacturing pathways for students, mobilize employer engagement across the region and provide individuals with access to affordable, relevant training that leads to career advancement.

This marks the sixth allocation for this initiative, which includes launches in Indiana, Texas, Illinois and Arkansas, as well as an innovation challenge. For more information on how these funds are upskilling talent for modern manufacturing and industry technician roles, and to stay up to date with future announcements, visit the Caterpillar Building the Workforce Initiative.

About CaterpillarFor more than a century, Caterpillar has built a better, more sustainable world. With 2025 sales and revenues of $67.6 billion, Caterpillar Inc. is shaping the future as the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company's primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers' toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team. Learn more at www.caterpillar.com.

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SOURCE Caterpillar Inc.

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