Growth Through Innovation

(1)

www.airboss.co

Investor Presentation | March 2021

Growth Through Innovation

(2)

AirBoss of America |

Forward Looking Information

Certain statements contained or incorporated by reference herein, including those that express

management’s expectations or estimates of future developments or AirBoss of America Corp.’s and its subsidiaries and affiliates (collectively “AirBoss”) future performance, constitute “forward-looking information” or

“forward-looking statements” within the meaning of

applicable securities laws, and can generally be identified by words such as “will”, “may”, “could” “expects”,

“believes”, “anticipates”, “forecasts”, “plans”, “intends” or similarexpressions. These statements are not historical facts but instead represent management’s expectations, estimates and projections regarding future events and performance.

Statements containing forward-lookinginformation are necessarily based upon a number of opinions,

estimates and assumptions that, while considered

reasonable by management at the time the statements are made, are inherently subject to significant

business, economic andcompetitive risks, uncertainties and contingencies.AirBoss cautions that such forward- looking information involves known and unknown

contingencies, uncertainties and other risks that may cause AirBoss’ actual financial results, performance or achievements to be materially different from its

estimated future results, performance or AirBoss’

actual financial results, performance or achievements

to be materially different from its estimated future results, performanceor achievements expressed or implied by the forward- looking information. Numerous factors could cause actual results to differ materially from those in the forward-looking information, including without limitation: impact of general economic

conditions; dependence on key customers; cyclical trends in the tire and automotive, construction, mining and retail industries; sufficient availability of raw

materials at economical costs; weather conditions affecting raw materials, production and sales; AirBoss’

ability to maintain existing customers or develop new customers in light of increased competition; AirBoss’

ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof, changes in accounting policies and methods, including uncertainties

associated with critical accounting assumptions and estimates; changes in the value of the Canadian dollar relative to the US dollar; changes in tax laws and

potential litigation; ability to obtain financing on

acceptable terms; environmental damage and non- compliance with environmental laws andregulations;

impact of global health situations; potential product liability and warranty claims and equipment

malfunction. COVID-19 could also negatively impact AirBoss’ operations and financial results in future

periods. There is increased uncertainty associated with future operating assumptions and expectations as

compared to prior periods. As such, it is not possible to estimate the impacts COVID-19 will have on AirBoss’

financial position or results of operations in future periods. This list is not exhaustive of the factors that may affect any of AirBoss’ forward- looking information.

All of the forward-looking information in this investor presentation is expressly qualified by these cautionary statements. Investors are cautioned not to put undue reliance on forward-looking information. All subsequent written and oral forward-looking information attributable to AirBoss or persons acting on its behalf are expressly

qualified in their entirety by this notice. Forward-looking information contained herein is made as of the date of this investor presentation and, whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly this forward-looking information except as required by

applicable laws. Risks and uncertainties about AirBoss’

business are more fully discussed under the heading“Risk Factors” in our most recent Annual Information Form and are otherwise disclosed in our filings with securities

regulatory authorities which are available on SEDAR at www.sedar.com.

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AirBoss of Americ

Disclaimers

This presentation has been prepared by AirBoss of America Corp. (“AirBoss”) for the sole purpose of providing preliminary information regarding AirBoss and its subsidiaries and is not intended to provide all available information about AirBoss. The material

presented is not intended to modify, qualify, supplement or amend any information disclosed under corporate and securities legislation of any jurisdiction and should not be relied upon as a representation of any matter that a potential investor should

consider in evaluating AirBoss or used for the purposes of making investment decisions concerning AirBoss Securities.

This presentation is not intended as and shall not constitute an offer, invitation,

solicitation, or recommendation with respect to the purchase or sale of any securities of AirBoss in anyjurisdiction.

Currency

All $ figures in USD unless otherwise indicated.

Non-IFRS Financial Measures

Within this presentation, AirBoss may disclose financial measures such as EBITDA, Adjusted EBITDA and Adjusted profit attributable to owners of the Company and

Adjusted Diluted Earnings Per Share. These measures do not have any standardized meanings prescribed by IFRS. Such measures are neither required by, nor calculated in accordance with IFRS, and therefore are considered Non-IFRS financial measures.

AirBoss discloses these measures as financial measurements used by interested

parties and investors to monitor the ability of an issuer to generate cash from operations for debt service, financing working capital and capital expenditures and paying

dividends. Such measures should not be considered as an alternative to, or more meaningful than, net income (or any other IFRS financial measure) as an indicator of the company’s performance.

EBITDArepresents earnings before interest income, interest expense, income taxes, depreciation, amortization, and impairment.

(4)

RUBBER

EVERYWHERE

ESSENTIAL

SUSTAINABLE

(5)

AirBoss of Americ

Extrude

Rubber shaped through a die

Mold

Rubber cast into final shape

Vulcanize

Heat and sulphur enhance strength and flexibility of finished product

Recycle

AirBoss repurposes rubber to reduce scrap

Transforming Rubber

Sustainably Grow

Rubber trees commercially grown on a plantation

Harvest

Trees tapped for sap

Refine

Raw rubber consolidated for export

Strain

Removes impurities for specialty applications

Format

Rubber sized to customer specs

Calendar

Compounded rubber flattened

Compound

Mixing creates friction and heat

Formulate

Add Carbon Black,

Accelerators, Chemicals, Oils

AirBoss adds significant value to raw rubber

through compounding

Finished Products

AirBoss makes

finished survivability &

anti-vibration products

Compounded Rubber Raw Rubber

AirBoss’s scale enables direct

sourcing of rubber and raw materials

through global supply chain

(6)

Multiple Customer Channels

Innovator in Anti-

Vibration Components ADG is

Survivability

Leader in Custom

Rubber Compounding

Sectors served:

• Defense

• Security

• Medical Personnel

• First Responders

Sectors served:

• Tire & Track

• Energy & Oil

• Building & Construction

• Aerospace & Defense

• Mining

• Automotive

• Water Treatment

Sectors served:

• Automotive

• Other Transportation

• Defense

Leveraging compounding capabilities and customer-base

(7)

Significant savings and synergies across the organization

AirBoss of Americ

Three Strategically Integrated Segments

AirBoss of America - President

Purchasing & Supply Chain Legal Corporate Finance Human Resources IT

ADG CEO SVP & General Manager SVP & General Manager

Shared Services Model

Coordinated

Management Team

Compounded Rubber Material R&D

Surge Manufacturing Capacity for Defense Products Plant Management in QC

Sharing of best practices Interdivisional transfer of employees & expertise Logistics & back office integration

Integrated Structure

Across Groups

(8)

R&D and innovation are key differentiators for AirBoss

State-of-the-Art R&D

Supports collaboration with customers on new

compounds/products

Aids attraction and retention of best talent to build rubber

science leadership Reflects ongoing

commitment to innovative, higher margin products

50 Engineers/Chemists

(9)

Domestic manufacturing capacity competitive advantage post COVID

AirBoss of Americ

Strong North American Presence

High QualityAsset Base

Newmarket, ON Kitchener, ON Auburn Hills, MI

Jessup, MD

Scotland Neck, NC

Acton-Vale, PQ

Kuala Lumpur, Malaysia

Charleston, SC

Facility Square Feet

(000’s)

Own/Lease

Newmarket, ON 6 Lease

Kitchener, ON 1,000 Own

Acton-Vale, PQ 260 Own

Auburn Hills, MI 275 Lease

Jessup, MD 105 Lease

Scotland Neck, NC 150 Own

Charleston, SC 14 Lease

Kuala Lumpur 300 JV

Total 2,084 -

Head Office

Research Facility Compounding/Mixing Engineered Products AirBoss Defense Group

(10)

$0.37

$0.44

$1.35

2018 2019 2020

Diluted EPS $M

26 32 32

74

2018 2019 2020

Adjusted EBITDA $M

EBITDA - Major Healthcare Contracts EBITDA

16 22 33

19 20

10 6 19

5 79

2018 2019 2020

Gross Profit $M

Airboss Defense Group - Major Healthcare Contracts Engineered Products

Rubber Solutions AirBoss Defense Group

73 83 117

114 120 101

129 125 102

181

2018 2019 2020

Revenues $M

Airboss Defense Group - Major Healthcare Contracts Engineered Products

Rubber Solutions AirBoss Defense Group

Diversity has ensured growth despite COVID

AirBoss Financial Overview

Historical Financial Summary

Diversified provider of CBRN-E solutions and rubber products

• Leading provider of powered air purifying respirator systems (PAPRs) in U.S.

• Global leader in CBRN PPE and route clearance vehicles and survivability products

• North America’s 2^nd largest custom rubber compounder

• Diversification ensured continued growth despite COVID impact on rubber production volume

+26%

CAGR

2018-20

AirBoss Defense Group

Airboss Defense Group - Major Healthcare

Contracts Rubber Solutions

Engineered Products

Gross Profit 2020

US Canada

Other

Revenues by Geography 2020

7.9% 9.5%

35.4%

7.2% 8.3%

35.1%

2018 2019 2020

Returns

Return on Capital Employed Return on Equity

(11)

2.4

1.3

2.2

1.5

1.9 1.7 1.9

-0.1

2013 2014 2015 2016 2017 2018 2019 2020

Net Leverage*

20 23

76

2018 2019 2020

CFO $M

(before changes in working capital)

Diversity sustained dividend and improved financial position

AirBoss of Americ

Consistent generator of cash

Historical Uses of Cash

Strongest financial position in history

• Exited 2020 in net cash position enabling potential M&A to increase growth and sustainability of EBITDA

• Diversified operations have generated consistent cash supporting:

1. Consistent C$0.28 dividend annually since 2017 2. Multiple acquisitions

3. Significant growth capital investments

1 Net debt less lease liabilities as at Dec. 31 / LTM EBITDA

-0.1x

Acquisitions

IRT in 2015

Provider of PPE for CBRN hazards incl. PAPRs

CSI in 2020

Global supplier of route clearance vehicles, countermine capability and

survivability products to U.S. and foreign military forces

8

19

15

2018 2019 2020

CapEx $M

5.1 4.9 4.8

2018 2019 2020

Dividends $M (C$0.28 per share)

(12)

Investments to drive higher margin product growth

Investing in Future Growth

CapEx investments ~$35M 2019/20

• Upgraded technical/R&D facilities

• Increased mixing capacity and redundancy and installed specialty colour compound capacity to protect and expand customer business

• New low burden gas mask and anti-NVH (noise, vibration & harshness) products

• New presses and robotic work cells for

Engineered Products to increase efficiency

Step change achieved in 2020 through formation of AirBoss Defense Group including acquisition of Critical Solutions Intl.

Strategic rationale already borne out in healthcare contracts:

CSI

• Global leader in counter-explosive/route clearance

• Sales and marketing expertise

• Key government relationships

• Post-sales support and service

• Defense culture AirBoss

• Global leader in CBRN rubber PPE

• IP, R&D & Engineering

• Manufacturing

• Financial Strength

2019/20 CapEx Breakdown

Growth Initiatives Replacement/Upgrade Existing PPE Cost Saving Initiatives Acquisition of Intangibles

(13)

Multiple ways to drive value

AirBoss of Americ

Compounding Value

Increase cash flow to fund

expanded capital allocation

Drive revenue growth

Deliver on contracts won Cross-market existing product lines to expanded

customer base

Leverage growing install base to capture

recurring revenue on consumables

Prepare for already tendered defense

contracts

Source / develop / acquire new defense and first

responder products

Identify and tender new defense

contracts

Leverage investment in automation / advanced

manufacturing

Develop and launch new non-automotive

products

Move products up the technical curve to solve more complex customer challenges Fill new capacity

in Kitchener &

Scotland Neck

Develop new specialty compounds

Expand operations in selected high-growth

markets

Leverage enhanced scale to improve raw material buying power

Near-Term Value Drivers Longer-Term Value Drivers

Identify acquisitions – traditional and specialty

compounders

Improve margins

Driving continuous improvement initiatives

(14)

AirBoss Defense Group

ADG is

Survivability

(15)

Threat prevention, protection, mitigation, response

Respiratory Protection

AirBoss of America |15

Survivability Solutions Platform

Wearable Products

Collective Protection &

Patient Isolation

Emerging Products Route

Clearance

Emerging Products

Leading U.S. provider of PAPRs

Global Leader in Wearables for CBRN

Global Leader in

Route Clearance

(16)

Full value chain focused on survivability

AirBoss Defense Group

Competitive Advantages

1. In house R&D and proprietary IP

• Proven longer protective life for rubber products

• Filters and consumables production done in house

• Ability for products to be decontaminated under field conditions

2. Rubber compounding expertise

• Compounded rubber provided by AirBoss’s Rubber Solutions segment

• Lower pricing for raw materials through bulk purchasing

• Surge production capacity provided by AirBoss’s Engineered Products segment

3. Financial stability of large defense firm while remaining agile for customers

• Rapid prototyping

• Precision manufacturing

• Lifecycle sustainment

4. Comprehensive threat mitigation and response portfolio

5. Existing global customer-base to cross-sell products

(17)

Sole supplier to U.S. DoD for chemical, biological, radioactive, nuclear (CBRN) boots and gloves

Global Leader in CBRN Wearables

$51.5 million*

contract with U.S. Department of Defense

Extreme Cold Vapor Barrier (“Bunny”) Boot

$36.5 million*

contract with U.S. Department of Defense

C$29.8 million*

contract with Canadian National Department of Defense

$11.0 million*

contract with Australian Defense Force

Molded AirBoss Lightweight Overboot (“MALO”)

AirBoss Molded Glove

Low Burden Mask

$26.7 million*

contract with U.S. Department of Defense

*Contract maximum value if all units delivered

(18)

Growing demand for protection of medical personnel and first responders

AirBoss Defense Group

COVID-19 Protective Solutions

Personal Protective Equipment

Powered Air Purifying

Respirator

ISO-POD™ Shelters

Two Major PPE Awards

FEMA

$96.4 million

completed Q3 2020

HHS

$121 million

delivery through

early 2021

(19)

Survivability booked sales since 2018 are >$400 million

Global Leader in Route Clearance

Husky 2G vehicle system

*Pseudo-Foreign Military Sales funds obligated at the time of the award, accounting for anticipated volumes of Husky 2G support equipment to be procured over the extended period of performance, two years ending September 2022. Base contract was awarded in 2017 and valued at $132 million.

• Deployed

approximately 1,500 Husky vehicle systems globally

• Husky vehicles have encountered over 8,000 blasts without ever

losing a soldier

• Adaptive with

peripherals including ground penetrating radar and rollover detection warning systems

$35.6

million*

Q4’ 20 contract extension with foreign military sales customers

$5.8

million

Ground penetrating radar and accessories for

Egyptian military

(20)

Defense and protective services focused on survivability, not lethality

Compelling pipeline of future opportunities

AirBoss Defense Group

Product Opportunity Potential

Timeline

Low Burden

Mask

• Latest generation CBRN mask

• Recently won technical competition for European NATO countries but edged out on pricing

• Working on lowering costs in preparation for upcoming U.S. competition, and potential for supply to other European countries including special forces

• 2024 and onwards

Blast Gauge®

• Exposure to blast over pressure proven to contribute to PTSD, hearing loss, sight loss, brain damage, suicide

• Bi-partisan support of U.S. Congress for military to monitor overpressure

• Currently in full field testing with U.S. Army and in competition for SOCOM

• Systems to be replaced annually

• 2022 and onwards

PAPRs

• N95 masks not ideal in high shedding environments

• COVID-19 anticipated to result in medical equipment being purchased like defense products: centralized purchases, strategic stockpiling and domestic supply chain priority

• Successful on-time, on-budget delivery of sole sourced awards to FEMA and HSS illustrates leading competitive position and scalability to international bodies

• Filters and hoods present ongoing recurring revenue potential following supply of initial systems

• Online portal launched to deliver direct to healthcare, manufacturing, personal care, and waste cleanup fields

• Ongoing, though

potential for major

contracts not anticipated in H1 2021

RDWS

• Rollovers are a leading cause of casualties

• RDWS advises of impending vehicle rollover conditions based on terrain, operation, and vehicle limitations/ parameters

• Recently won award for delivery in 2021 from 2nd Cavalry Regiment, unit of U.S. Army Europe

• Competitive advantage in that we record all data, can load into software, and installation possible within minutes • Ongoing

Bandolier

• Patented multi-purpose lightweight explosive clearing charge to clear obstacles on battlefield

• Bridges capability gap between larger, complicated breaching charges and standard bulk demolitions

• First commercial sale in April 2020: Netherlands Defense Meteriel Organisation (DMO) placed an initial order of 500 systems and training programs as part of a 5-year program to advance their demolitions capabilities

• Contract vehicle provides the ability for all 30 NATO member countries to easily procure Bandolier systems

• Ongoing

(21)

Supplement organic growth with strategic acquisitions

ADG Growth Strategy

Cross-market existing CBRN-E product lines to expanded

customer base

Develop/source next-generation

survivability products to bring to market

Leverage growing

install base to capture recurring revenue on consumables

Identify and tender new defense

contracts

(22)

7 11 17 26 74

11% 15% 20%

22%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0 10 20 30 40 50 60 70 80 90 100

2017 2018 2019 2020

EBITDA $M

ADG ADG - Major Healthcare Contracts % of Revenues (ex Major Healthcare Contracts)

Targeting market share expansion

Financial Review & Outlook

AirBoss Defense Group

REVIEW

• 259% revenue growth in 2020, driven by:

• Creation of ADG and major healthcare contracts:

o Leveraged CSI’s sales team and customer relationships to create new sales channels for AirBoss’ proprietary PAPRs

o Delivered on time and on budget in short timespan

• Contribution from acquisition of CSI (Jan. 1, 2020)

• Organic growth in other PPE lines

OUTLOOK

• Global CBRN-E defense market is estimated at $13.6B in 2019 and anticipated to grow at a 4.1% CAGR from 2020 to 2025¹

• Potential for increased demand for PAPRs and PPE for strategic stockpiles from various parties

• Near term pressures on defense budgets from COVID could push out certain contract opportunities beyond 2021

• U.S. defense spending is anticipated to remain flat in 2021, and +2.8%

globally, per Deloitte²

1 BIS Research, CBRNE Defense System Market - A Global Market and Regional Analysis: Focus on CBRNE Defense System Product and Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2020-2025

2Deloitte, “2021 aerospace and defense industry outlook”

+67%

CAGR

‘17-’20

12 16 22 33

79

19% 22% 26%

29%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-10 10 30 50 70 90 110

2017 2018 2019 2020

Gross Profit $M

ADG ADG - Major Healthcare Contracts % of Revenues (ex Major Healthcare Contracts)

64 73 83 117

181

2017 2018 2019 2020

Revenues $M

ADG ADG - Major Healthcare Contracts

(23)

AirBoss of Americ

Rubber Solutions

Leader in Custom

Rubber

Compounding

(24)

30-year operating history

North America’s 2nd Largest CustomCompounder

MILLION

pound capacity

75M lbs. added in 2019

2017-2019 EBITDA CAGR

~500 2,000+

Rubber Solutions

Market Overview

• North American rubber

compound market estimated at

~$2B in 2019, forecast to grow at 3.7% from 2018-25

¹

Third-party Rubber

Compounders Landscape

1. Hexpol Group (incl. Preferred Compounding) – combination completed July 2019

2. AirBoss

Multiple private players Market Share Expansion

Significant opportunity to capture market share by becoming

secondary supplier to customers seeking redundancy due to

Hexpol/Preferred combination

15%

1 Global Info Research, “Global Rubber Compound Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2025”

proprietary compounds

(25)

Significant customer and sector diversification

Diverse and Growing Customer Base

Significant

volume from

blue chip

customers

Volume by Sector – 2020

• Trusted supplier with multi decade key customer relationships

• Diversified end markets

• Stable recurring applications exposure:

• Tire and OTR/Retread not dependent on new auto/truck sales

• ~10% volume used for internal segments

150+ customers

OTR/Retread 21%

Major Tires 18%

Conveyor Belts 14%

Resources 12%

Track 8%

Infrastructure 6%

Anti-Vibration 6%

Industrial 5%

Niche 3%

Defense

3% Other 4%

(26)

Increasing profits through specialization and scale

Rubber Solutions

ARS Growth Strategy

Fill new capacity in Kitchener &

Scotland Neck

Leverage enhanced scale to improve raw material buying power Develop new

specialty compounds

Expand operations in selected high-growth markets

M&A – traditional and specialty

compounders

(27)

17 19 20

19

18% 16% 17% 18%

0%

20%

40%

60%

80%

100%

0 5 10 15 20 25

2017 2018 2019 2020

Gross Profit $M

Gross Profit Margin of External Sales

0.70 0.75 0.80 0.85 0.90 0.95 1.00 1.05

2019-10-01 2019-11-01 2019-12-01 2020-01-01 2020-02-01 2020-03-01 2020-04-01 2020-05-01 2020-06-01 2020-07-01 2020-08-01 2020-09-01 2020-10-01 2020-11-01 2020-12-01

U.S. Plastics and Rubber Products Manufacturing

(Source: Federal Reserve, rebased to 1 as of Oct. 2019)

AirBoss has outperformed broader N.A. industry

REVIEW

• 9% decline in gross profit in 2020 driven by COVID-related impact on economy and industry volumes

• Volumes rebounded in back half of year

Financial Review & Outlook

OUTLOOK

• North American custom rubber compounding market estimated to grow at ~4% annually

• Rebound in AirBoss’ rubber compounding anticipated in 2021 following COVID-driven decline in 2020

• Anticipated ARS growth to be driven by increased volume by existing customers followed by new business

+15%

CAGR

‘17-’19 Lbs. Sold

87

104 115

106

94 114 120

101

2017 2018 2019 2020

Rubber Lbs Sold M & Revenues $M

Rubber Lbs. Sold M (excludes internal) Revenues $M

14 16

19

15

15% 14% 16% 15%

0%

20%

40%

60%

80%

100%

0 5 10 15 20

2017 2018 2019 2020

EBITDA $M

EBITDA % of Revenues

(28)

Engineered Products

Anti-Vibration

(29)

Anti-Vibration Platform

Suspension Powertrain & Drive

Steering Chassis & Exhaust

90%

Hybrid

Rubber/Metal

Essential anti-vibration, noise and harshness

components

of components produced by AirBoss are for light trucks, SUVs & minivans

Leader in anti-vibration & noise-reductionsolutions

(30)

More technically sophisticated parts generate higher margins

GROMMETS

DUST BOOTS

JOUNCE BUMPER

SPRING ISOLATOR

MASS DAMPER STABILIZER

BAR BUSHINGS EXHAUST

MOUNTING SHOCK

BUSHINGS TOP

MOUNT CONTROL

ARM BUSHINGS

HYDRAULIC BUSHINGS

HYDRAULIC MOUNTS

Engineered Products

Focus on Innovation

Advance products

up the technical

curve

Leverage

automation for high-volume lower margin

parts

(31)

Balance contribution by diversifying into adjacent sectors

Launched first

non-automotive product Extensive outreach

to sector leaders

AEP Growth Strategy

Heavy

Truck Bus Construction Mining Agriculture Motorcycle

& ATV

Cross-selling to

existing customer base

Expanding into non-automotive sectors

Dedicated non-auto team in place

Defense

• 10% of 2020E sales to non-auto

• Targeting equal split in medium term

(32)

Turnaround strategy underway to drive return to profitability

Financial Review & Outlook

Engineered Products

REVIEW

• Turnaround strategy for AEP began successfully in 2020, though hindered by COVID-19 impact on automotive (-20.5% decline in N.A. production in 2020F¹) and related rubber production volumes:

• Moved into supply of anti-vibration components for non-auto; almost 10% of 2020E sales, with target to have balance between auto and non-auto in five years

• Customer retention has been high with no shrink in base; ~80-90% rollover annually

• Undertaking cost containment through:

❑ New robotic work cell installed during year; second robotic work cell scheduled for H2 ‘21

❑ Shifting lower margin production volumes to Malaysia

• Became supplier to AirBoss Defense Group

OUTLOOK

• North American car/light truck production estimated to grow at ~4.8% annually between 2020 and 2025, with large rebound in 2021¹

• Rebound in volumes following COVID-driven decline in 2020 dependent on continued impact of COVID on U.S. economy

• AEP target of getting close to EBIT breakeven in near term if economy normalizes

1 IHS Markit, Dec. 2020

132 129 125

102 12

2017 2018 2019 2020

Sales $M

External Internal - Defense

15

10

6 5

12% 8% 5% 5%

0%

20%

40%

60%

80%

100%

0 5 10 15 20

2017 2018 2019 2020

Gross Profit $M

Gross Profit % of Revenues

9

4

0

-1

7% 3% 0%

-1%

-20%

0%

20%

40%

60%

80%

100%

-2 0 2 4 6 8 10

2017 2018 2019 2020

EBITDA $M

EBITDA % of Revenues

(33)

AirBoss of Americ

Investment Highlights

Focus on innovation and

collaboration with largely

blue-chip customer base Leading player

in the large &

growing North American

rubber

compounding market

Strategy to grow and

diversify

anti-vibration business

Large owned asset base Significant

recent investments

in capacity and capabilities

A history of consistent dividends Strong platform

to build defense

& survivability

business

(34)

Appendix Slides

(35)

AirBoss of Americ

Market Data

Exchange: Ticker TSX: BOS

Recent Share Price

(March 7, 2021)

$20.25

Basic Shares Outstanding 26.9 million Market Capitalization $545 million 3 mo. Avg. Daily Volume of Shares Traded 254,380

52-week Range $4.59 - $26.67

Board & Management Ownership 20%

Annual Dividend

(LTM)

$0.28

Dividend Yield 1.4%

Analyst Coverage Canaccord Genuity, CIBC, Cormark, Stifel-GMP, TD

(In Canadian dollars)

(36)

Significant diversified industrial, defense and public company expertise

Experienced Board and Management Team

Management Board of Directors

1 Member of Audit Committee ²Member of Compensation Committee ³Member of Nominating and Corporate Governance Committee P. Gren Schoch

MSc(A), P.Eng CEO & Chairman

Founded and chaired Petromet Resources in 1982; sold to Talisman for $900 million

Co-founder Aurora Oil & Gas; sold for $2.6 billion in 2014 Founded AirBoss in 1989; Chairman 1989, CEO 2013 Chris Bitsakakis

BSc, MBA

President & COO

More than 25 years in the rubber and automotive industries

Extensive operational experience in the North America, Mexico, South America, Europe and Asia

Frank Ientile BA, CA, CPA CFO

30 years of progressive financial leadership experience

Significant diversified industrials experience including the automotive, heavy trucking and construction sectors

Chris Figel BASc, LLB

EVP and General Counsel

10 years in private practice with a major Canadian law firm focused on M&A and Corporate Finance

Patrick Callahan CEO of ADG

More than 18 years of defense and leadership experience, including expertise in business development, program management, strategic planning and international business

Carl Chapman

Sr. VP and GM, ARS

More than 16 years of manufacturing and operations leadership in rubber solutions and automotive industries.

Chris Laycoe

Sr. VP and GM, Engineered Products

More than 27 years experience in manufacturing and engineering, with solid track record of implementing manufacturing process

improvements, program launches, problem solving, systems implementation and team development.

P. Gren Schoch MSc(A), P.Eng CEO & Chairman

Founded and chaired Petromet Resources in 1982; sold to Talisman for $900 million

Co-founder Aurora Oil & Gas; sold for $2.6 billion in 2014 Founded AirBoss in 1989; Chairman 1989, CEO 2013 Anita Antenucci

Director

25+ years investment banking experience in aerospace/

defense/government services.

Senior Managing Director Houlihan Lokey Inc.

David Camilleri (1) Director

25+ years of advanced manufacturing experience (aerospace, NVH) Former President Noranco; VP Precision Castparts Corp (a Berkshire Hathaway company)

Mary Matthews (1)(2)(3) Director

Held numerous senior financial positions with both public and private companies including EVP at Sprott Asset Management and VP at CIBC

Robert McLeish (1)(2)(3) Lead Independent Director

35 years in the investment business, most recently as Vice- Chairman Merrill Lynch Canada

Former Chairman Dundee Wealth Management Inc.

Brian A. Robbins (1) Director

President & CEO of Exco Technologies (TSX:XTC) Director of Heroux-Devtek Inc. (TSX: HRX)

Stephen M. Ryan (2) Director

Highly regarded attorney for 40 years in Washington, D.C.

Has been adjunct professor at Georgetown University Law Center for over a decade and co-author of a book on government procurement ethics

Alan J. Watson (2)(3) Director

30-year investment banking career with American and U.K.-based investment banks

Chairman of Pinnacle Investment Management