Curtiss-Wright — May 1, 2024 release

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES NON-GAAP FINANCIAL DATA (UNAUDITED) ($'s in thousands) Three Months Ended March 31, 2024 2023 Net cash used for operating activities $ (45,633) $ (91,599) Capital expenditures (12,055) (10,661) Free cash flow $ (57,688) $ (102,260) Westinghouse legal settlement —  10,000  Adjusted free cash flow $ (57,688) $ (92,260) Adjusted free cash flow conversion (75  %) (157  %) Curtiss-Wright Corporation, Page 16 CURTISS-WRIGHT CORPORATION 2024 Guidance As of May 1, 2024 ($'s in millions, except per share data) 2023 Reported  (GAAP) 2023 Adjustments (Non-GAAP) (1,2) 2023 Adjusted (Non-GAAP) (1) 2024 Reported Guidance (GAAP) 2024  Adjustments (Non-GAAP) 2024 Adjusted Guidance (Non-GAAP) Low High Low High Chg vs 2023 Adjusted Sales: Aerospace & Industrial $ 887  $ —  $ 887  $ 915  $ 930  $ —  $ 915  $ 930  3 - 5% Defense Electronics 816  —  816  882  897  —  882  897  8 - 10% Naval & Power 1,142  —  1,142  1,188  1,208  —  1,188  1,208  4 - 6% Total sales $ 2,845   $ —   $ 2,845   $ 2,985   $ 3,035   $ —   $ 2,985   $ 3,035   5 to 7% Operating income: Aerospace & Industrial $ 145  $ —  $ 145  $ 152  $ 156  $ —  $ 152  $ 156  5 - 8% Defense Electronics 192  —  192  212  218  —  212  218  11 - 13% Naval & Power 189  9  198  192  197  —  192  197  (3) - (1)% Total segments 526   9   535   556   571   —  556   571   Corporate and other (42) —  (42) (38) (39) —  (38) (39) Total operating income $ 485   $ 9   $ 494   $ 518   $ 533   $ —   $ 518   $ 533   5 to 8% Interest expense $ (51) $ —  $ (51) $ (44) $ (45) $ —  $ (44) $ (45) Other income, net 30  —  30  34  35  —  34  35  Earnings before income taxes 463   9   472   508   524   —   508   524   Provision for income taxes (109) (2) (111) (119) (123) —  (119) (123) Net earnings $ 355   $ 6   $ 361   $ 389   $ 400   $ —   $ 389   $ 400   Diluted earnings per share $ 9.20   $ 0.18   $ 9.38   $ 10.10   $ 10.40   $ —   $ 10.10   $ 10.40   8 to 11% Diluted shares outstanding 38.5  38.5  38.5  38.5  38.5  38.5  Effective tax rate 23.4  % 23.4  % 23.5  % 23.5  % 23.5  % 23.5  % Operating margins: Aerospace & Industrial 16.4  % 16.4  % 16.6  % 16.8  % 16.6  % 16.8  % 20 to 40 bps Defense Electronics 23.5  % 23.5  % 24.0  % 24.2  % 24.0  % 24.2  % 50 to 70 bps Naval & Power 16.6  % 17.4  % 16.1  % 16.3  % 16.1  % 16.3  % (110 to 130 bps) Total operating margin 17.0   % 17.4   % 17.4   % 17.6   % 17.4   % 17.6   % 0 to 20 bps Free cash flow $ 403   $ 10   $ 413   $ 415   $ 435   $ —   $ 415   $ 435   0 to 5% Notes: Full year amounts may not add due to rounding. (1) 2023 Adjusted financials exclude the impact of first year purchase accounting adjustments. (2) Free Cash Flow is defined as cash flow from operations less capital expenditures. 2023 Adjusted Free Cash Flow excluded a legal settlement payment of $10 million. Curtiss-Wright Corporation, Page 17 CURTISS-WRIGHT CORPORATION 2024 Sales Growth Guidance by End Market As of May 1, 2024 2024 % Change vs. 2023 Adjusted Prior Current % Total Sales Aerospace & Defense Markets Aerospace Defense 5 - 7% 6 - 8% 20% Ground Defense 4 - 6% 10 - 12% 11% Naval Defense 3 - 5% 3 - 5% 25% Commercial Aerospace 10 - 12% 10 - 12% 12% Total Aerospace & Defense 5 - 7% 6 - 8% 68% Commercial Markets Power & Process 3 - 5% 4 - 6% 18% General Industrial 1 - 3% 1 - 3% 15% Total Commercial 2 - 4% 2 - 4% 32% Total Curtiss-Wright Sales 4 - 6% 5 - 7% 100% Note: Sales percentages may not add due to rounding. Curtiss-Wright Corporation, Page 18 About Curtiss-Wright Corporation Curtiss-Wright Co