#1Investor presentation September 2023 HÉROUXDEVTEK.COM HEROUX DEVTEK#2FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements which are mainly about, but may not be limited to, Héroux-Devtek's future financial performance, expectations, objectives or possible events. The predictive nature of such statements makes them subject to risks, uncertainties and other important factors that could cause the actual performance or events to differ materially from those expressed in or implied by such statements. Such factors include, but are not limited to: the impact of worldwide general economic conditions; industry conditions including changes in laws and regulations; increased competition; the lack of availability of qualified personnel or management; availability of commodities and fluctuations in commodity prices; financial and operational performance of suppliers and customers; foreign exchange or interest rate fluctuations; and the impact of accounting policies issued by international standard setters. For further details, please see the Risk Management section of the Corporation's MD&A. Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive, and undue reliance should not be placed on forward-looking statements. Héroux-Devtek provides such forward-looking statements for the purpose of assisting the reader in understanding the Corporation's financial performance and prospects and to present management's assessment of future plans and operations. The reader is cautioned that such statements may not be appropriate for other purposes. Although management believes in the expectations conveyed by the forward-looking statements and although they are based on information available to it on the date such statements were made, there can be no assurance that such expectations will prove to be correct. All subsequent forward-looking statements, whether written or orally attributable to the Corporation or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements. Unless otherwise required by applicable securities laws, the Corporation expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION#3ABOUT HÉROUX-DEVTEK 7 FACILITIES 4 CANADA AEROSPACE COMPANY WORLD'S 3RD LARGEST 2 FACILITIES UK LANDING GEAR MANUFACTURER FACILITIES U.S.A. 2 FACILITIES IN SPAIN $613 $571 $536 $544 ≈1,850 $387 $484 14.7% 15.3% 15.7% 15.5% 15.5% 11.3% FY18 FY19 FY20 FY21 FY22 FY23 Sales % Ajusted EBITDA (1) HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION (1) Non-IFRS financial measure. Please refer to the "Non-IFRS financial measures" section at the end of this document for further details#4SATISFYING CUSTOMERS SINCE 1942 Héroux Machine Parts Limited, specializing in machine tooling of aircraft components, is founded in Longueuil, Québec. EXPERTS C SELF-STARTERS CENTRAL GARAL EUG HEROUX Management buyout and Héroux Inc. becomes a publicly traded company. Signing of a long-term contract with The Boeing Company to supply complete landing gear systems for the Boeing 777 and 777X programs. Agreement to acquire Beaver and CESA. CESA COMPAÑA ESPAÑOLA DE SISTEMAS AERONAUTICOS S.A Bourse de Montréal Inc. BOEING 1942 1966 1985-1986 2000 2013 2014 HEROUX DEVTEK Beaver AEROSPACE & DEFENSE, INC. 2018 2022 HE OU Héroux Inc. manufactures landing gear for the Apollo Lunar Module. Héroux Inc. acquires Devtek Corporation to enhance its landing gear capabilities in the commercial sector and changes its name to Héroux-Devtek Inc. Acquisition of APPH, an integrated provider of landing gear and hydraulic systems and assemblies for original equipment manufacturer and aftermarket applications. The world's third-largest landing gear manufacturer, satisfying customers for 80 years and counting. HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION 4#5OUR REPUTATION 1 Management Integrity 2 Acquisition Integration CVW-5 3 Customer Relationships 4 Financial Discipline HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION F 18363 NAVY 200 5#6DIVERSIFIED AND BALANCED REVENUE MIX YEAR ENDED MARCH 2023 DEFENCE / CIVIL 69% DEFENCE / 31% CIVIL Vs 54% in FY20 Vs 46% in FY20 Other Large Jets Helicopters 6.1% 15.1% 10.6% 24.9% Fighters 27.0% BY END CUSTOMER LOCATION Rest of Europe Other countries Canada 7.7% 6.1% 12.6% Business Jets 8.1% 2.7% 2.7% Regional Jets Spain 5.4% Helicopters 2.8% Other Transport 6.8% United Kingdom 61.4% United States [ PROPRIETARY/BUILD-TO-PRINT LONG TERM AGREEMENT Build-to-print Other Build-to-print Tier 1 4.6% Proprietary and Life of Program Contracts 8.3% 50.2% 37.0% Build-to-print OEM FY20 Large jets = 27.4% ($168M) FY23 Large jets = 15.1% ($82M) Geographically diversified Strong proprietary content HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION 6#7FISCAL 2023/2024 ENVIRONMENT Positives Monitoring Challenges Commercial air traffic recovery (OE, Aftermarket, International) Macroeconomic environment Supply chain disruptions Global defence demand Geopolitical landscape Raw materials / Lead times Next generation defence Labour availabilty Inflation program launches HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION 7#8FY24 RESULTS - Q1 ®] % Q1 ($M except per share data) FY2024 Q1 FY2023 vs Q1 FY2023 vs Q4 FY2023 Comparative EBITDA 10.0 % 12.6 % Sales 140.7 114.1 Volume 2.3 % (1.2)% Production efficiencies 3.2 % 0.8% Gross profit % 14.3% 11.0% Inflation on Supplies/Utilities/Freight (2.6)% 0.6 % Operating income 7.5 2.6 Product mix (0.7)% (1.3)% FX (0.5)% 0.2% Operating income (%) 5.3% 2.3% EBITDA-Q1 FY24 11.7 % 11.7 % Adjusted EBITDA(1) 16.4 11.4 Adjusted EBITDA (1) (%) 11.7% 10.0% Net income 4.0 1.0 Adjusted EPS(1) 0.12 0.03 Sales increased by 23% bringing TTM to $570M Adjusted EBITDA increased by 43% (1) Non-IFRS financial measure. Please refer to the "Non-IFRS financial measures" section at the end of this document for further details HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION#9FISCAL YEAR 2023 RESULTS % [ ] C ($M except per share data) Q1 Q2 Q3 Q4 Twelve months FY23 FY23 FY23 FY23 FY23 FY22 Sales 114.1 132.7 140.9 156.0 543.6 536.1 Gross profit % 11.0% 13.8% 14.1% 14.6% 13.5% 17.0% Operating income 2.6 8.6 5.1 9.9 26.2 44.8 Operating income (%) 2.3% 6.5% 3.6% 6.3% 4.8% 8.3% Adjusted EBITDA (1) 11.4 16.2 14.1 19.6 61.4 83.0 Adjusted EBITDA (1) (%) 10.0% 12.2% 10.0% 12.6% 11.3% 15.5% Strong recovery from the beginning of the fiscal year Bringing second-half of the year sales to $297 millions (1) Non-IFRS financial measure. Please refer to the "Non-IFRS financial measures" section at the end of this document for further details HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION 9#10GROWTH PLATFORMS * LN 202 BOEING F/A-18 E/F SUPER HORNET AND EA-18G GROWLER Strong aftermarket SIKORSKY CH-53K* LRIP phase BOEING F-15 Production ramping up Proprietary programs HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION Dassault Falcon 6X* Entering production phase#119 P/E FY2 11 Sep-13 13 19 21 23 17 15 Marty Sep-14 Sep-15 Sep-16 SHARE PRICE PERFORMANCE / VALUATION Sep-17 HRX-CA HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION P/E vs 10Y average Адам Sep-18 Sep-19 10y avg Sep-20 Sep-21 Sep-22 Sep-23 1 -25.00% -45.00% -65.00% 35.00% 15.00% -5.00% Total Return Oct, 2019 - August, 2023 55.00% 30-10-19 30-12-19 29-02-20 30-04-20 30-06-20 31-08-20 31-10-20 31-12-20 28-02-21 30-04-21 30-06-21 HRX.TO Global airlines S&P A&D Index 31-08-21 31-10-21 31-12-21 28-02-22 30-04-22 30-06-22 31-08-22 31-10-22 31-12-22 28-02-23 30-04-23 30-06-23 31-08-23 11 -32.39% 30.94% 1.07% HEROUX DEVTEK#12PRIORITIES TO ENABLE DELIVERY AND INCREASED PROFITABILITY 1 Stabilize production system 2 Increase automation 3 Review pricing HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION FY23 increase of $181M (+27%) 810 717 682 Q4 2020 Q4 2021 Q4 2022 863 Q4 2023 NEAR-RECORD BACKLOG 12#13NON-IFRS FINANCIAL MEASURES The information included in this presentation contains certain financial measures that are not prescribed by International Financial Reporting Standards ("IFRS") and are not likely to be comparable to similar measures presented by other issuers. . . • EBITDA expense. - Earnings before financial expenses, income tax expense and amortization Adjusted EBITDA - EBITDA as defined above excluding non-recurring items. Adjusted Operating income - Operating income excluding non-recurring items. Adjusted net income - Net income excluding non-recurring items net of taxes. Adjusted earnings per share - Diluted earnings per share calculated on the basis of adjusted net income. Free cash flow - Cash flows related to operating activities, less additions to property, plant and equipment and net increase in finite-life intangible assets. Refer to the Corporation's MD&A for further details HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION#14% [ * ] [®] [~] [ i ] HÉROUXDEVTEK.COM 14#15WELL-DIVERSIFIED CIVIL Large commercial Regional Jet Business Jet Helicopter 777 E2 10X X-WIDE Falcon 10X E2 AIRBUS A360 ... A350 A350 AIRBUS 787 A330 Saab 340 Saab 2000 Praetor S92 AW609 AH175 HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION ENPB ADA Learjet 75 Falcon 6X Bell platforms 15#16WELL-DIVERSIFIED DEFENCE Transport/ Unmanned Fighter/Trainer Helicopter A400M © AIRBUS DEFENCE AND SPACE 2016 ** AMBUS C295 C295 RQ4B/MQ4C C27J C-130 KC390 MRTT MQ-25 KC135 WOM F-18 Gripen F-35 F-15 EF2000 Hawk ARINE CH-53K HÉROUX-DEVTEK INC. | INVESTOR PRESENTATION CH-47 AW101 H60 (Black Hawk) LAH 16