Investor Presentation 2022

FINANCIALS 2021 FINANCIAL RESULTS IMPACTED BY COVID SALES ($Bs) STRONG CASH GENERATION! INVESTOR PRESENTATION 2022 | 20 Markets recovering Supply chain & labor disruptions FY2019 FY2020 FY2021 Leverage on sales volume growth 2.9 2.5 2.25 ADJUSTED EARNINGS $ 4.88 $ 3.96 $ 3.24 PER SHARE¹ ADJUSTED FREE 292 315 427 CASH FLOW¹ ($Ms) O WOODWARD, INC. | PROPRIETARY Return of variable incentive compensation program Inflation pressure Solid Free Cash Flow AR increasing with higher sales WOODWARD

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