Recommended version: they are neither centered, nor left-aligned, nor right-aligned. The equal signs are aligned.
\documentclass{article}
\usepackage{amsmath}
\begin{document}
\begin{equation}
\begin{aligned}
T_\mathrm{Up} &= \max \{T_{\mathrm{Up}\_\min}, u\} \\
T_\mathrm{Low} &= \min \{T_{\mathrm{Low}\_\min}, l \}
\label{Eq2}
\end{aligned}
\end{equation}
\end{document}

If you want them to be strictly left aligned, then (but please don't do this! Your readers will be grateful).
\documentclass{article}
\usepackage{amsmath}
\begin{document}
\begin{equation}
\begin{aligned}
&T_\mathrm{Up} = \max \{T_{\mathrm{Up}\_\min}, u\} \\
&T_\mathrm{Low} = \min \{T_{\mathrm{Low}\_\min}, l \}
\label{Eq2}
\end{aligned}
\end{equation}
\end{document}
