Slide 1: CJS Summer Conference
CJS Summer Conference July 9, 2026 Nasdaq: ATRO Peter J. Gundermann, Chairman, President & CEO Nancy L. Hedges, Vice President & CFO astronics.com
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements as defined by the Securities Exchange Act of 1934. One can identify these forward-looking statements by the use of the words “expect,” “anticipate,” “plan,” “may,” “will,” “estimate,” “feeling” or other similar expressions a
Slide 3: Astronics Corporation (Nasdaq: ATRO)
Astronics Corporation (Nasdaq: ATRO) INNOVATION. COLLABORATION. SUCCESS. Astronics serves the world’s aerospace, defense, and other mission critical industries with proven, innovative technology solutions. Our strategy is to grow value by developing technologies, organically or through acquisition,
Slide 4: Solid Franchise with Leading Market Positions
Aerospace Solid Franchise with Commercial Aerospace Test Systems Leading Market Positions General Aviation TTM Q12026 Sales: Defense & Government* $886.8 million 20% Other 1% 8% 92% 9% 70% Commercial Aerospace ~50/50 Line Fit/Retrofit ~50/50 Narrowbody/Widebody *Includes Test and Aerospace sales ast
Slide 5: Recovery Complete: Entering Next Phase of Growth
Recovery Complete: Entering Next Phase of Growth ($ in millions, except where noted otherwise) Revenue 2019 to 2026E Bookings $970 to $924.4 $935.1 $808.1 $1B $685.4 $723.7 $76.8 $90.9 $59.9 $75.4 $887 $86.4 $862 $773 $795 $67.0 $847.5 $844.2 64.8 $663.8 $732.7 $599.0 $80.1 $689 $88.7 $84.4 $535 202
Slide 6: Astronics Strategic Thrusts
Astronics Strategic Thrusts Elevating Innovation PRODUCT LINES TTM Q12026 Sales: $886.8 million Lighting & Safety Inflight Entertainment & 25% Connectivity (IFEC) 50% Flight Critical Electrical Power Other 2% 9% 7% 7% Seat Motion Test Systems astronics.com 6
Slide 7: Inflight Entertainment & Connectivity (IFEC)
Inflight Entertainment & Connectivity (IFEC) IFC Outside Airframe Equipment Power for Passengers and Crew Cabin Modifications, Certifications and Services Inflight Entertainment Systems Hardware astronics.com 7
Slide 8: IFEC: In-Seat Power System (ISPS)
IFEC: IN-SEAT POWER SYSTEM (ISPS) » In-seat power, line-fit and retrofit, now powering 2+ million seats on over 290 airlines worldwide » System provides power to personal electronics and seat-back displays » High barriers to entry: ~90%+ market share » ASP: ~$550-$850 per seat » Market penetration s
Slide 9: IFEC: Connectivity and IFE Hardware
IFEC: Connectivity and IFE Hardware* Growth opportunity as market penetration increases across the globe » Widebody global fleet: ~93% have IFE and ~72% have IFC » Narrowbody global fleet: ~55% have IFE and ~35% have IFC » Complete shipset can include IFE servers, IFE content loaders, wireless acces
Slide 10: Lighting & Safety Solutions
Lighting & Safety Solutions Exterior Cockpit Emergency / Safety Systems Cabin 10
Slide 11: Aircraft Lighting Systems
Aircraft Lighting Systems Industry Leader in Aircraft Lighting A complete array of innovative, lightweight, reliable, solid-state lighting systems Boeing 787 Cockpit ... Robert's dream job!: Products – Primarily Line-fit » Exterior lighting systems » Cabin lighting systems » Cockpit lighting systems
Slide 12: Flight Critical Electrical Power
Flight Critical Electrical Power First Mover Advantage: Establishing leadership in small aircraft airframe power The technology for the future of small aircraft: Solid-state power distribution systems replace extensive wiring and traditional electromechanical components with modular electronics and
Slide 13: Addressing Trends: Modernization of Aircraft
Addressing Trends: Modernization of Aircraft Clean, Streamlined Cockpit Traditional Cockpit with Mechanical Circuit Breakers Modern Cockpit with Electronic Circuit Breakers Learjet 45 Pilatus PC-24 astronics.com 13
Slide 14: Flight Critical Electrical Power Programs of Record
Flight Critical Electrical Power Programs of Record Electronic Circuit Breaker Units and Long-Life Starter Generator Announced Program Wins » MV-75 Cheyenne » Daher TBM 900 » Bell 505, 525 » Pilatus PC-24 » Beechcraft Denali » Boeing MQ-25 Stingray astronics.com 14
Slide 15: U.S. Army Future Long-Range Assault Aircraft Program
U.S. Army Future Long-Range Assault Aircraft Program MV-75 Cheyenne Employs Astronics CorePower® family of solutions Selected by Bell Textron to Develop Electrical Power Distribution System for MV-75 • With roughly twice the range and twice the speed, the MV-75 brings unmatched combat capability to
Slide 16: Emerging Market Opportunities with Drones and eVTOL Aircraft
Flight Critical Electrical Power Emerging Market Opportunities with Drones and eVTOL Aircraft Drones eVTOL » Generators, Primary & Secondary Power » Power Conversion, Secondary Distribution, Distribution System Control » Electronic Circuit Breakers & High Reliability » Electronic Circuit Breakers, D
Slide 17: Aircraft Seat Motion Solutions
Aircraft Seat Motion Solutions Extensive solutions for premium seating systems Broad offering with well known Carat® brand » Fast growing market as airlines upgrade to serve demand for premium seating » Products include linear and rotary actuators, power supplies, custom harnesses, sensors, pneumati
Slide 18: Aerospace
Aerospace Well Positioned on Wide Range of High-Profile Aircraft BFE: Buyer-Furnished Equipment Transport Business Aircraft Military 777/777X Embraer Phenom 100/300 F-35 JSF • ~$325K in content (PSUs, fuel access doors, exterior, • Exterior lighting • ~$100K in content (Exterior lighting cockpit and
Slide 19: Test Systems: A&D, Transit and Radio
Test Systems: A&D, Transit and Radio Testing for Mission-Critical Industries Award-winning test solutions Solutions Designed for the Unique Requirements of Mass Transit » Validate operating performance on multiple top-priority defense communications and weapons systems platforms » Approx. $15 millio
Slide 20: Financials
FINANCIALS INNOVATION. COLLABORATION. SUCCESS.
Slide 21: Sales, Bookings & Backlog
Sales, Bookings & Backlog ($ in millions) Sales Bookings $279.7 $290.4 $240.1 $257.2 $12.0 $210.4 $26.1 $230.6 $177.0 $19.9 $20.5 $18.5 $26.4 $16.8 $267.7 $237.3 $264.4 $211.4 $150.6 $191.9 $205.9 $204.7 $18.7 $14.6 $11.1 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 $219.6 $213.8 Backlog $191.4 $193.6 $192.7 $734.
Slide 22: Profit and Margins
Profit and Margins ($ in millions) GAAP Non-GAAP Gross Profit and Margin Margin Expansion on Volume, Price, Productivity » Higher volume, improved productivity, and $80.0 $75.1 $2.8 million true up on MV-75 program profit $60.9 $64.5 » Partial offset from $1.7 million tariff increase $52.8 » Aerospa
Slide 23: EPS and EBITDA
EPS and EBITDA ($ in millions; except EPS) Net Income (Loss) & Diluted EPS Adj. Net Income and Adj. Adjusted EBITDA1 and Margin Diluted EPS1 $37.9 $25.5 $30.7 $22.5 $17.0 $9.5 Q1 25 Q1 26 Q1 25 Q1 26 Q1 25 Q1 26 $0.22 $0.56 $0.36 $0.49 14.9% 16.4% $45.4 $141.7 $84.2 $109.6 $53.2 ($3.5) TTM Q125 TTM
Slide 24: Cash Flow and Capital Structure
Cash Flow and Capital Structure Strong Liquidity & Financial Flexibility ($ in millions) » 2026 capex expected to be $40 million to $45 million for consolidation and capacity Three Months TTM expansion in Seattle, deferred growth & Cash Flow Ended Ended maintenance capex 4/4/26 3/29/25 4/4/26 3/29/2
Slide 25: CJS Summer Conference
CJS Summer Conference July 9, 2026 Nasdaq: ATRO Peter J. Gundermann, Chairman, President & CEO Nancy L. Hedges, Vice President & CFO astronics.com
Slide 26: Supplemental Information
Astronics Corporation SUPPLEMENTAL INFORMATION INNOVATION. COLLABORATION. SUCCESS. astronics.com 26
Slide 27: Potential Dilution Impact from 2024 and 2025 Convertible Bonds
Post 20% Cl B Dividend: Potential Dilution Impact from 2024 and 2025 Convertible Bonds 2025 Convertible Bond - Potential Dilution Potential Dilution on Shares Receivable from Stock Price Potential Share Dilution on Total Potential Share from Remaining Premium Above Capped Call Hedge at Maturity 2025
Slide 28: Extensive List of Customers
Extensive List of Customers Representative List 290+ Airlines Dassault Aviation L3Harris SES Airbus Embraer Leonardo Sikorsky AMAC Aerospace General Dynamics Lockheed Martin Stadler Rail Bell Helicopter Gulfstream NASA Textron Aviation Boeing Honda Aircraft Northrup Grumman Thales Bombardier Honeywe
Slide 29: Created a Portfolio for Growth
Created a Portfolio for Growth PECO Manufacturing PGA Avionics Armstrong Telefonix PDT Freedom Envoy Aerospace » July 2013 » December 2013 Aerospace » December 2017 Communication » July 2025 » Aerospace: » Aerospace: » January 2015 » Aerospace: Technologies » Aerospace: Lighting & Safety Seat Motion
Slide 30: Select Competitors
Select Competitors » Airbus KID – Systeme » Kontron IFEC » Burrana » Lufthansa Technik » Collins Aerospace » Meggitt LIGHTING & » Safran » Collins Aerospace SAFETY » Honeywell » Whelan » Transdigm » Diehl Aerospace » Safran SEAT MOTION » Collins Aerospace » Crane Aerospace FLIGHT CRITICAL » Crane Ae
Slide 31: Reconciliation of GAAP Operating Income to Adj. Operating Income
Reconciliation of GAAP Operating Income to Adj. Operating Income Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 GAAP Consolidated Operating Income $ 13,137 $ 4,758 $ 23,055 $ 35,462 $ 27,230 Add Back: Simplification and restructuring initiatives 279 6,229 359 - - Legal reserve, settlements and recoveries 6
Slide 32: Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 GAAP Consolidated Net Income (Loss) $ 9,528 $ 1,314 ($ 11,098) $ 29,615 $ 25,540 Interest expense 3,150 3,097 2,920 3,394 2,336 Income tax expense (benefit) 646 537 (1,226) 2,629 (755) Depreciation an
Slide 33: Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA (TTM)
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA Reconciliation to Non-GAAP Performance Measures TTM Ended In addition to reporting net income, a U.S. generally accepted accounting principle (“GAAP”) measure, we present Adjusted 4/4/2026 3/29/2025 EBITDA (earnings before interest, income
Slide 34: Reconciliation of Net Income and Diluted EPS to Adjusted
Reconciliation of Net Income and Diluted Earnings per Share to Adjusted Net Income and Adjusted Diluted Earnings per Share Reconciliation to Non-GAAP Consolidated Performance Measures Adjusted Net Income and Adjusted Three Months Ended TTM Ended Diluted EPS are defined as net income and diluted EPS
Slide 35: For more information
For more information: Company: Investor Relations: Nancy L. Hedges Deborah K. Pawlowski Chief Financial Officer Alliance Advisors IR 716-805-1599 716-843-3908 invest@astronics.com dpawlowski@allianceadvisors.com astronics.com