Slide 1: Investor Presentation Third Quarter Fiscal Year 2026
Investor Presentation Third Quarter Fiscal Year 2026 Data as of 12 February 2026 1
Slide 2: Disclaimer
Disclaimer CAUTION REGARDING FORWARD - LOOKING STATEMENTS This Presentation includes forward - looking statements about our activities, events and developments that we expect to or anticipate may occur in the future including, for example, statements about our vision, strategies, market trends and o
Slide 3: Disclaimer
Disclaimer Readers are cautioned that any of the disclosed risks could have a material adverse effect on CAE’s forward - looking statements . Readers are also cautioned that the risks described above and elsewhere in this Presentation are not necessarily the only ones we face ; additional risks and
Slide 4: Non-IFRS and Other Financial Measures
NON - IFRS AND OTHER FINANCIAL MEASURES This Presentation includes non - IFRS financial measures, non - IFRS ratios, capital management measures and supplementary financial measures . These measures are not standardized financial measures prescribed under IFRS and therefore should not be confused wi
Slide 5: Our vision
Our vision To be the trusted partner in advancing safety and mission readiness, defining the standard of excellence in training and critical operations by harnessing technology and enhancing human performance . CAE Inc. Proprietary Information and/or Confidential
Slide 6: A global leader in training, mission, and operational support
Total Revenue A global leader in Defense and 42 % 58 Civil Aviation training, mission, and Security operational support Products/Services Mix* solutions Products 40 % 60 40+ Services $4.7B $20.1B countries FY25 revenue FY25 adjusted Geographic Mix backlog ~240 U.S.A. 48 sites % ~13,000 Europe 20 32
Slide 7: Current and next-generation products enabling our training ecosystem
Current and next - generation products enabling our training ecosystem 7 CAE Inc. Proprietary Information and/or Confidential
Slide 8: Civil Aviation
Civil Aviation Elevating and advancing human performance
Slide 9: 1.5 million new personnel required by 2034 to support aviation growth
1.5 million new personnel required by 2034 to support commercial and business aviation growth Passenger Traffic New commercial aviation personnel needed: New business aviation personnel needed: 4.8% 1,292K 102K 4 - year CAGR* Fleet Growth 267K 678K 33K 69K 35% New pilots 3.25% New pilots New cabin N
Slide 10: World's largest provider of civil aviation training services
We are the world’s largest provider #1 Every 5 seconds of civil aviation training services Civil Aviation Training with the unique capability and a flight takes off global scale to address the total using Flightscape , powered by CAE lifecycle needs of the professional pilot, from cadet to captain 8
Slide 11: Defense & Security
Defense & Security Making the world a safer place through enhanced mission readiness
Slide 12: Defence markets growing across regions and platforms
Defence markets growing across regions and platforms: Need to meet critical training needs in complex environments ~ 10% Canada and NATO commit to target of Of allied defence operations & maintenance 5% of GDP in annual defence spending budgets allocated to training and simulation by 2035. 6% 4 - ye
Slide 13: CAE a critical enabler in delivering integrated training architectures for allied nations
CAE a critical enabler in delivering integrated training architectures for allied nations Highly complex, integrated flight training programs a key differentiator Saab/ Global FFLiT FSTSS Eye AEW&C F - AMTS FAcT Strategic partner Delivery of Cooperation Advancing next - SkyAlyne joint with the integ
Slide 14: Located in key growth markets with local community and industry connection
Located in key growth markets with 140+ 40+ local community and sites countries industry connection 6,000+ 85+ Regional offices with manufacturing and integration capabilities employees platforms ▪ Tampa, FL (US HQ) ▪ Ottawa, ON ▪ Arlington, TX ▪ Burgess Hill, UK ▪ Halifax, NS ▪ Stolberg, DE ▪ Montr
Slide 15: Solid financial foundation underpins performance in Q3
Solid financial foundation underpins performance in Q3 2.30x $411.3M $19.2B Net Debt/Adjusted EBITDA* Free Cash Flow * Adjusted Backlog * Exceeding FY26 Higher y/y free cash Strong pipeline of leverage target flow generation opportunities across ~2.5x Civil and Defense * Data as of Q3 FY26. Non - IF
Slide 16: CAE's Transformation Plan focused on three priorities
CAE’s Transformation Plan focused on three priorities • Bottom - up review of all businesses, investments, and partnerships Portfolio • Concentrating capital and management attention where CAE has greatest advantage • Identified several non - core assets for divestiture ~8 % of revenue • Tightened c
Slide 17: Outlook for FY26
Outlook for FY26 Consolidated • Annual Civil adjusted segment operating income* mid - single digit percentage lower vs. FY25. Civil • T otal CAPEX for fiscal 2026 more than 10% lower • Annual adjusted segment operating income than fiscal 2025, which totaled $356.2 million. D riven margin* in the 20%
Slide 18: Sustainability
Sustainability Civil Aviation Defense & Security Moving aviation safety, inclusion, and Noble mission to support preparedness; fostering industry decarbonization forward sovereignty, stability and safety through deterrence By FY33, CAE commits to : Committed to Mobilizing our 100% sourcing with ren
Slide 19: Financial Highlights
Financial Highlights (amounts in millions, except per share amounts, adjusted ROCE, net debt-to-adjusted EBITDA and book-to-sales ratio) Q3FY26 Q3FY25 Variance % Performance Revenue $ 1,252.1 $ 1,223.4 2% Operating income $ 195.8 $ 262.6 (25%) Adjusted segment operating income* $ 195.8 $ 190.0 3% Ne
Slide 20: Reconciliation of non-IFRS measures
Reconciliation of non-IFRS measures Last twelve months ended December 31 Reconciliation of EBITDA, adjusted EBITDA, net debt-to-EBITDA and net debt-to-adjusted EBITDA 2025 2024 (amounts in millions, except net debt-to-EBITDA ratios) Operating income (loss) $ 724.8 $ (43.7) Depreciation and amortizat
Slide 21: Reconciliation of non-IFRS measures
Reconciliation of non-IFRS measures Three months ended December 31 Reconciliation of adjusted net income and adjusted EPS 2025 2024 (amounts in millions, except per share amounts) Net income attributable to equity holders of the Company $ 108.9 $ 168.6 Impairments and other gains and losses arising
Slide 22: Reconciliation of non-IFRS measures
Reconciliation of non-IFRS measures Reconciliation of adjusted segment operating income Civil Aviation Defense & Security Total Three months ended December 31 2025 2024 2025 2024 2025 2024 (amounts in millions) Operating income $ 141.8 $ 223.4 $ 54.0 $ 39.2 $ 195.8 $ 262.6 Impairments and other gain