CAE Financial Overview and Strategic Outlook
CAPITAL ALLOCATION PRIORITIES
Strategic investments in sustainable and accretive growth
4.0x
3.5x
Expected leverage
of ~3.0x Net Debt/
Adjusted EBITDA in
FY24**
3.0x
2.5x
2.0x
1.5x
1.0x
0.5x
0.0x
FY17
FY18
FY19
FY20
FY21
Net Debt/ Adjusted EBITDA#
FY22
FY 23
300%
250%
200%
150%
Continue to
target 100% FCF
conversion**
100%
Free Cash Flow conversion #+ (RHS)
Balancing growth investing and current returns to shareholders on
a solid financial foundation
#Non-IFRS and other financial measures (See slides 37 - 41). Figures presented include both continuing and discontinued operations and have not been reclassified for the disposal of the Healthcare segment;
+FCF conversion measured as a % of adjusted net income
**Forward-Looking Statements (slides 2-3)
14
CAE Inc. Proprietary Information and/or Confidential
50%
FY24
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