Investor Presentation

CAPITAL ALLOCATION STRATEGY Strong free cash flow generation $600 $500 $400 $300 $200 $100 $0 FY18 FY19 FY20 Free Cash Flow* Net cash provided by operating activities * Non-GAAP and other financial measures (see Appendix) 31 CAE Inc. Proprietary Information and/or Confidential 120% 115% 110% 105% 100% 95% 90% 85% 80% FY21 FCF Conversion Rate* CAE

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