Teledyne Technologies Incorporated · NYSE:TDY
Teledyne Technologies — Investor Presentation (August 2023)
26 slides from Teledyne Technologies's investor presentation, August 2023
Slide 1: Investor Presentation | August 2023
INVESTOR PRESENTATION | August 2023 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements Teledyne’s investor presentation contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, directly or indirectly relating to stock option compensation expense, and about the continuing expected
Slide 3: Teledyne: Enabling Technologies to Sense, Analyze and Distribute Information
Teledyne: Enabling Technologies to Sense, Analyze and Distribute Information TELEDYNE TECHNOLOGIES
Slide 4: Global sensing and decision-support technology company
* Global sensing and decision-support technology company * Broad, balanced portfolio of highly engineered products * Proven track record; hands-on management; consistent, predictable performance * Further opportunities for margin improvement * Compound growth in earnings and cash flow * Established
Slide 5: Markets and Sales by Geography
Markets(b) Sales by Geography(b) NN 5
Slide 6: Teledyne's Transformation
Teledyne's Transformation 2000” 2010°) $657 Million $1.64 Billion Aerospace A Castings Aerospace Engines Printed 19% Aerospace Circuits Engines Printed Circuits Defense Electronics Systems (a) Total sales values exclude discontinued operations 2023”) $5.73 Billion 8% 13% © Instrumentation ® Digital
Slide 7: History of Focused, Successful Acquisitions
History of Focused, Successful Acquisitions Electronic Instrumentation Digital Imagin “mt _@ + _@e-—-@ Aerospace & Defense Electronics Engineered Systems 2001 2005 2009 2013 2017 2021 67 Acquisitions; $11.7 Billion in Cumulative Consideration a. TELEDYNE TECHNOLOGIES Everywhereyoulook’ © $10 Million
Slide 8: All Wavelengths, All Applications: From Deep Sea to Deep Space
All Wavelengths, All Applications: From Deep Sea to Deep Space GAMMA X-RAY ULTRAVIOLET VISIBLE INFRARED MICROWAVE RADIO TELEDYNE TECHNOLOGIES Everywhereyoulook’
Slide 9: Full Spectrum of Imaging Products
Full Spectrum of Imaging Products SE TELEDYNE TECHNOLOGIES Everywhereyoulook’
Slide 10: Full Spectrum of Unmanned Systems
Full Spectrum of Unmanned Systems From Sea to Land to Sky Autonomous and unmanned systems and a wide range of payloads TELEDYNE TECHNOLOGIES Everywhereyoulook’ 10
Slide 11: Continuous Improvement
Continuous Improvement® Gross Margin) EBITDA Margin 48% 28% 44% 24% 40% 20% 36% 16% 32% ° 28% 12% 24% 8% 20% 4% BARS BSE SASTAME NSN AACHAN SAMS OBR SB OHNNEMORDAOHNN Sees BSS SS SAAS AAA QAAR Sees SSS SS OANA Sa SAgAAN RRRRRRARRNRARAAAA ARAN o RERFRLRSSRRRARERRRRRERS 3 Fe R&D Expense International
Slide 12: Revenue History
12 Revenue History” ($ in millions) $6,000 ~$5,730") (a) Excludes the former Aerospace Engines @ Digital Imaging $5,459 Instrumentation 5,000 m Aerospace & Defense Electronics 5,500 ‘ $4,614 4,500 l Engineered Systems 4,000 3,500 3,000 . $2,394 $2,604 2,500 $2,339 $2,298 $2,127 2,000 1,500 1,000 § 5
Slide 13: Continuous EPS Growth
13 Continuous EPS Growth” ($ per share) $19.00 18.00 17.00 16.00 15.00 14.00 13.00 12.00 11.00 10.00 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00¢9 0.00 fa) (b) {c) (d) {e) (f) Represents total GAAP EPS for 2002 through 2008 and 2013 through 2022, and GAAP EPS from continuing operations for 2001 and
Slide 14: Consistent Cash Flow
14 Consistent Cash Flow ($ in millions) $900 850 800 750 700 650 600 550 500 450 400 350 300 250 $868) 691 $130 $116 99$111$114 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 m Net Income Attributable to Teledyne m Adjusted Free Cash Flow fa) (b) {c) Adjusted Free Ca
Slide 15: Total Shareholder Return
Total Shareholder Return 5,900 5,500 5,100 4,700 4,300 3,900 3,500 3,100 2,700 2,300 1,900 1,500 1,100 700 300 (100) Nov-99 Shareholder Return Since Publicly Listed Oct-00 S&P 500 yen $4,588.96 Sep-01 ‘Aug-02 Jul-03 Jun-04 May-05 Apr-06 Mar-07 Feb-08 Jan-09 Dec-09 Nov-10 Oct-11 Sep-12 Aug-13 Jul-14
Slide 16: Q2 2023 Credit Ratings
Q2 2023 Moody’s Baa3 S&P BBB Fitch BBB 16
Slide 17: Technologies that Enable Carbon Monitoring, Environmental Science and Climatology
Teledyne: Technologies that Enable Carbon Monitoring, Environmental Science and Climatology aygres TELEDYNE TECHNOLOGIES PY > Everywhereyouldox
Slide 18: Space-based Sensing for Earth Science and Carbon Monitoring
Space-based Sensing for Earth Science and Carbon Monitoring Sensors for all of the following * NOAA Geostationary Operational Environmental Satellite (GOES) — Weather Monitoring * NASA Orbiting Carbon Observatories — Atmospheric Carbon Dioxide (CO;) * NASA GeoCarb — CO; and Methane (CH,) * ESA Aeolu
Slide 19: Instrumentation for Air-Quality Monitoring
Teledyne: Instrumentation for Air-Quality Monitoring a A =e ow y Leader in Ambient Air Quality Other Related Product Lines * Extensive line of pollution monitoring * Hazardous gas and flame detection for worker instruments (NO,, SO, Oz, CO, COz, CHy, H2S) safety * Particulate instrumentation (PMyo,
Slide 20: Instrumentation for Ocean Science and Climatology
Instrumentation for Ocean Science and Climatology * Complete line of instrumentation and * Bathymetric lidar and imaging sonar autonomous vehicles for ocean sensing * Analysis of ocean temperatures throughout the water column * Disaster assessment, including oil plume tracking (Macondo) and radiatio
Slide 21: Additional Products for Sustainability, Energy Efficiency and Human Health
Teledyne: Additional Products for Sustainability, Energy Efficiency and Human Health * \ <a * Thermal cameras for firefighting, heat loss and * High-sensitivity, lower-dose X-ray detectors elevated skin temperature screening * Instruments for pharmaceutical development * Industrial vision systems fo
Slide 22: Goal to Reduce Scope 1 and 2 Emissions 40% by 2040
22 Teledyne: Goal to Reduce Scope 1 and Scope 2 Combined Emissions, Divided by Sales, 40% from 2020 to 2040 GHG Emissions Normalized for Revenue 2 . _ Decrease Target 40% $ 30 28.8 reduction by 2040 a’) 40% REDUCTION gus INGREENHOUSEGAS =” _ EMISSIONS BY 2040 : *2021 emissions from businesses acquir
Slide 23: Explanation of Non-GAAP Financial Measures
Teledyne Technologies Incorporated Explanation of Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, management believes that, in order to more fully understand our short-term and long-term financial and operational trends, and to aid in comparability with
Slide 24: Reconciliation of Non-GAAP Financial Measures (cont…)
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures (cont…) Management excludes the effect of each of the acquisition related items identified below to arrive at the applicable non-GAAP financial measure referenced in the previous tables for the reasons set forth below w
Slide 25: Reconciliation of Non-GAAP Financial Measures
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures The following tables set forth a reconciliation of net income and operating margin provided in acordance with GAAP to comparable results that are non-GAAP. Reconciliation of GAAP to Non-GAAP financial measures (in milli
Slide 26: Reconciliation of Non-GAAP Financial Measures (cont…)
Teledyne Technologies Incorporated Reconciliation of Non-GAAP Financial Measures (cont…) Reconciliation of GAAP to Non-GAAP financial measures (in millions): Fiscal Year (Incl. Discont Ops) Fiscal Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net cash provided by operating activities,
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