Kaman : 2020 Investor Presentation - September

Creating Tomorrow's

Today

Investor Presentation

Forward Looking Statements

FORWARD-LOOKING STATEMENTS

This presentation includes "forward looking statements" relating to the announced transactions and future operations of the Company, which can be identified by the use of words such as "will," "expect," "poise," "believe," "plans," "strategy," "prospects," "estimate," "project", "seek," "target," "anticipate," "intend," "future," "likely," "may," "should," "would," "could," and other words of similar meaning in connection with a discussion of future operating or financial performance or events. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These statements are based on assumptions currently believed to be valid but involve significant risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ from those expressed in the forward looking statements. Such risks and uncertainties include, among others, the ability to implement the anticipated business plans following closing and achieve anticipated benefits and savings; and future and estimated revenues, earnings, cash flow, charges, cost savings and expenditures. Additional risks and uncertainties that could cause our actual results to differ from those expressed in the forward looking statements are identified in our reports filed with the SEC, including our Quarterly Reports on Form 10-Q, our Annual Reports on Form 10-K, and our Current Reports on Form 8-K. The forward looking statements included in this presentation are made only as of the date of this presentation, and the Company does not undertake any obligation to update the forward looking statements to reflect subsequent events or circumstances.

Non-GAAP Figures

Management believes that the Non-GAAP financial measures (i.e. financial measures that are not computed in accordance with Generally Accepted Accounting Principles) identified by an asterisk (*) used in this presentation or in other disclosures provide important perspectives into the Company's ongoing business performance. The Company does not intend for the information to be considered in isolation or as a substitute for the related GAAP measures. Other companies may define the measures differently. Reconciliations from GAAP measures to the Non-GAAP measures are presented herein.

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The transformation of our business has

focused the "New Kaman" on engineered

solutions, driving innovation to solve our

customers most complex challenges

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Q2 2020 Overview

Financial

Performance

(from continuing operations)

• Consolidated Sales up 1.8%; Organic sales* down 8.5%
• Gross margins in excess of 30% and significant cost control improve profitability
• Adjusted EBITDA* of 13.4%, a 370 bps increase over prior year period
• Adjusted diluted earnings per share* more than doubled to $0.36
• Available cash on hand of $236 million at quarter end; Repaid $100 million on revolving credit agreement in August 2020

Key

Messages

• High level of execution despite continued challenges from COVID-19
• Delivering on cost savings initiatives with approximately $34 million in annualized savings; Identified opportunities to deliver $16 million in additional savings
• Maintained discipline in application of our COVID-19 policies and procedures to protect employees and maintain operations
• Strong balance sheet and significant capacity under our revolving credit facility
• No debt maturities until 2024

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