Curtiss-wright Corporation · NYSE:CW

Curtiss-wright — Q1 2015 Earnings Presentation

12 slides from Curtiss-wright's earnings presentation, 2015

1. Slide 1: Investor Overview First Quarter 2015

   Investor Overview First Quarter 2015 NYSE: CW 1 | © 2015 Curtiss-Wright

2. Slide 2: Safe Harbor Statement

   Safe Harbor Statement Please note that the information provided in this presentation is accurate as of the date of the original presentation. The presentation will remain posted on this web site from one to twelve months following the initial presentation, but content will not be updated to reflect

3. Slide 3: Curtiss-Wright Corporation

   Curtiss-Wright Corporation  $2.3 billion in 2015E sales Global, diversified industrial company  Leadership positions in providing highly growing markets engineered products  Enhancing safety, reliability and services to and performance Aerospace, Defense and Industrial Markets  9,000 employees w

4. Slide 4: 2014 Highlights

   2014 Highlights  330 bps improvement in Operating Margin to 12.6%(1)  19% growth in Earnings per Share  300 bps improvement in ROIC(1,2)  Strong Free Cash Flow driving 156% conversion rate  Successfully divested several non-core businesses (Addition by Subtraction)  $65 million in Share Repurc

5. Slide 5: Leadership Position in Growing Markets

   Leadership Position in Growing Markets  Industrial: On- and off-road commercial General vehicles; Industrial valves Industrial Defense (30%) (33%)  Commercial Aerospace: Leverage ramp up in OEM aircraft production rates  Power Generation: Current and future generation nuclear operating reactors 

6. Slide 6: Long-Term Financial Goals

   Long-Term Financial Goals 3-5% Organic Sales Growth >14% Operating Margin 12% Return on Invested Capital >100% Free Cash Flow Conversion Top Quartile Performance in our Peer Group 6 | © 2015 Curtiss-Wright

7. Slide 7: Growth Strategies

   Growth Strategies GROW OUR CORE EXPAND OUR TECHNOLOGIES ENTER NEW MARKETS 7 | © 2015 Curtiss-Wright

8. Slide 8: Margin Expansion

   Margin Expansion 14.0%+  Leveraging the benefits of 12.6% 12.5% (1) ONE Curtiss-Wright – Lean – Supply Chain Management 9.3% – Shared Services – Consolidation  Operational and productivity improvement initiatives  Steady organic sales growth CW Reported 2013 CW 2014 Peer 75th Percentile Objective

9. Slide 9: Strong Free Cash Flow Generation

   Strong Free Cash Flow Generation $265 Dollars in millions  More efficient execution and cash flow management $166  Universal focus on FCF – tied to compensation  Continued working capital $70 reductions as a % of sales  High CapEx scrutiny 2012 2013 2014 9 | © 2015 Curtiss-Wright

10. Slide 10: Balanced Capital Allocation

    Balanced Capital Allocation  Committed to steady returns to shareholders Shareholder Returns  Employ free cash flow for bolt-on acquisitions Operational  Internal investment Acquisitions Requirements driving sustained growth Based on expected annual Cash Flow from Operations 10 | © 2015 Curtiss-W

11. Slide 11: 2015E Financial Outlook (Guidance as of February 18, 2015)

    2015E Financial Outlook (Guidance as of February 18, 2015) FY2014 FY2015E Change vs. 2014 Pro Forma Sales $2,243M $2,280 - 2,330M 2 - 4% Operating Income $282M $303 - 312M 7 - 10% CW Margin 12.6% 13.3% - 13.4% 70 - 80 bps Diluted EPS $3.46 $3.80 - 3.90 10 - 13% - Free Cash Flow (1) $265M $100 - 120M

12. Slide 12: ONE Curtiss-Wright

    ONE Curtiss-Wright Organic Sales Growth Operating Margin Expansion Earnings and Cash Flow Working Capital Management Growth Balanced Capital Allocation Delivering Long-Term Shareholder Value 12 | © 2015 Curtiss-Wright

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