INVESTOR PRESENTATION. June 2021

FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements which are mainly about, but may not be limited to, Héroux-Devtek’s future financial performance, expectations, objectives or possible events. The predictive nature of such statements makes them subject to risks, uncertainties and other important factors that could cause the actual performance or events to differ materially from those expressed in or implied by such statements.

Such factors include, but are not limited to: the impact of worldwide general economic conditions including the impact of COVID-19; industry conditions including changes in laws and regulations; increased competition; the lack of availability of qualified personnel or management; availability of commodities and fluctuations in commodity prices; financial and operational performance of suppliers and customers; foreign exchange or interest rate fluctuations; and the impact of accounting policies issued by international standard setters. For further details, please see the Risk Management section of the Corporation’s MD&A. Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive, and undue reliance should not be placed on forward-looking statements.

Héroux-Devtek provides such forward-looking statements for the purpose of assisting the reader in understanding the Corporation’s financial performance and prospects and to present management’s assessment of future plans and operations. The reader is cautioned that such statements may not be appropriate for other purposes.

Although management believes in the expectations conveyed by the forward-looking statements and although they are based on information available to it on the date such statements were made, there can be no assurance that such expectations will prove to be correct. All subsequent forward-looking statements, whether written or orally attributable to the Corporation or persons acting on its behalf, are expressly qualified in their entirety by these cautionary statements. Unless otherwise required by applicable securities laws, the Corporation expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

ABOUT HÉROUX-DEVTEK

7

FACILITIES

CANADA

5

FACILITIES

U.S.A.

2

FACILITIES UK

2

FACILITIES IN

SPAIN

≈1,800

AEROSPACE COMPANY

WORLD’S 3

RD

_LARGEST

LANDING GEAR MANUFACTURER

$ 365

$ 407 $ 407

$ 387

$ 484

$ 613

FY15 FY16 FY17 FY18 FY19 FY20 FY21

1942

Company founded Began manufacturing of aerospace components

Manufactured the Apollo lunar module landing gear

Management buy out & Initial public offering

Merged with Devtek

Corporation (UK and Wichita, KS)Acquired APPH

Delivery of first production shipset of Boeing 777 contract

Acquisitions of Beaver and CESA

1942 2021 1985 1966 2000 2014 2018 2016 BEFORE AFTER

HISTORY

2019

Share price and record profit 7 years of solid growth

2005

Strategic planning Focus on the customer and

pricing strategy

Revenues

$

2020

Delivery of first production shipset of Boeing F18 contract

WHAT WE SAID

WHAT WE DELIVERED

• Defence sales + 14.6%;

Overall decrease 6.9%

• Restructuring proceeding as planned

Adj. EBITDA of 15.5% (15.7% LY)

• Record Cash flow from operating

activities of $89.2M ($52.6M LY)

• Actuation contract between CESA

and Boeing; Boeing Premier Bidder

Program; Dassault Falcon 10X

WE ARE DELIVERING ON OUR PROMISES

• Focus on key revenue drivers to

weather the storm

• We took swift action to remain

competitive and profitable

• Protect our liquidity and continue

to generate positive free cash

flow

• Seize new business opportunities

and maximize cross-selling

FY21 RESULTS - YTD

(1) Non-IFRS financial measure. Please refer to the “Non-IFRS financial measures” section at

the end of this document for further details

($M except per share data)

Fiscal year

ended March 31, Variance

2021 2020

Sales 570.7 613.0 (6.9)% Gross profit % 16.6% 16.8% (20 bps) Operating income 34.1 (30.1) N/A Operating income (%) 6.0% (4.9%) 1090bps Adjusted EBITDA(1) _{88.3 96.2 (8.2)}

Adjusted EBITDA(1)_{% 15.5% 15.7% (20 bps)}

Net income 19.8 (50.7) N/A Adjusted net income(1) _{29.0 35.7 (18.6)}

EPS 0.55 (1.38) N/A Adjusted EPS(1) _{0.80 1.00 (20.0)}

Sales decrease of 6.9%

• Defence up 14.6%

• Civil down 31.9% (45% decrease in twin-aisle deliveries)

Operating income up from (4.9%) to 6.0%

• $82M of impairment charge in FY20 (13% of sales)

Adjusted EBITDA

_{margin down from}

15.7% to 15.5% of sales

DIVERSIFIED AND BALANCED REVENUE MIX

FY20 sales mix by end customer location

9.4% United States United Kingdom Spain Rest of Europe Other countries 10.2% 53.4% 7.8% 11.0% 8.2% FY20 IP = 42.2% vs FY21 46.8% Growing Proprietary % PROPRIETARY / BUILD-TO-PRINT LONG TERM AGREEMENT

25.8% 52.7% 9.9% 7.7% 12.9% 8.4% 8.4%

BY END CUSTOMER LOCATION

Geographically diversified Build-to-print Other 18.0% 9.4% 46.8% Proprietary and Life of Program Contracts Build-to-print Tier 1 Build-to-print OEM 17.9%

FY20 Large jets = 27.4% FY21 Large jets = 17.9% 45% decrease in twin-aisle

RAMPING UP NEW PLATFORMS

BOEING F/A-18 E/F

SUPER HORNET AND

EA-18G GROWLER

1

_{delivery Q2-FY21}

BOEING MQ-25

UNMANNED AERIAL

REFUELING

PROGRAM

New Platform

Development phase

SIKORSKY CH-53K*

Entering LRIP phase

Dassault Falcon 6X*

New Platform

Entering production phase

CONSISTENT CASH FLOW GENERATION

$ 207M of Free cash flow generated over the last 4 years

In $ millions

₂₀₁₈

₂₀₁₉

₂₀₂₀

₂₀₂₁

Sales

$ 386.6 $ 483.9 $ 613.0 $ 570.7

Adjusted EBITDA margin

14.7%

15.3%

15.7%

15.5%

Cash flows related to operating activities

56.1

70.0

52.6

89.2

Free Cash Flow

50.8

58.6 30.3 67.3

As a % of sales

13.1%

12.1%

4.9%

11.8%

Free Cash Flow yield

10.6%

10.5%

6.3%

14.6%

STEADY DE-LEVERAGING

247

233

219

190

158

Q4-FY20 Q1-FY21 Q2-FY21 Q3-FY21 Q4-FY21

Net Debt Net Funded Debt to EBITDA

Solid Balance sheet – Ready for growth!

$89M DEBT REDUCTION (LTM)

DEBT STRUCTURE

Revolver; $ 60 FTQ; $ 75 Leases; $ 28 Gov Loan; $ 90

$253 Million of Long-term Debt ($67M Net funded debt)

Share Price Share price vs 52-week high EV/EBITDA (TTM) Net debt / TTM EBITDA FCF Yield Civil OEMs Boeing 300.4 -13.5% - - -3.8% Airbus 163.1 -1.5% 23.8 0.7 0.8% Textron 83.6 -2.3% 18.4 2.1 4.5% Average* -5.8% 21.1 1.4 0.5% Defence OEMs General Dynamics 232.3 -2.7% 13.1 2.3 5.8% L3harris 263.4 -6.1% 15.7 1.9 6.5% Lockheed Martin 468.4 -14.5% 11.4 0.9 6.9% Northrop Grumman 451.2 -2.4% 13.2 1.8 4.9% Average* -6.4% 13.4 1.7 6.0% Component manufactuers Ducommun Inc 67.1 -18.2% 13.0 4.0 2.9% FLIR Systems Inc 69.7 0.0% - - 0.0%

HEICO Corp 175.9 -2.5% 45.1 0.5 2.1% Moog Inc 107.2 -3.6% 13.4 3.2 5.7% CIRCOR International Inc 45.9 -14.5% 14.1 5.2 5.1% Parker-Hannifin Corp 369.8 -9.1% 15.7 2.1 5.6% Spirit AeroSystems Holdings Inc 62.1 -7.0% - - -5.3% Raytheon Technologies Corp 107.6 -1.0% 26.0 3.7 3.7% TransDigm Group Inc 804.0 -1.2% 29.9 9.1 2.2% Triumph Group Inc 25.7 -2.4% 15.3 7.7 -6.3% Safran SA 183.8 -6.2% 19.8 1.1 2.3% AAR Corp 48.8 -13.8% 19.7 1.4 7.4% Woodward Inc 149.0 -8.1% 24.4 1.3 4.0% Hexcel Corp 74.2 -8.4% 44.8 6.2 2.0%

Average* -7.4% 19.1 3.8 2.4%

Heroux Devtek Inc 18.1 -0.8% 11.3 2.1 7.3%

AS OF MAY 25,

REPURCHASE UP TO

2,412,279

Common shares

10% of public

float

BOUGHT

THROUGH JUNE 10

284,810

11.8% of NCIB

CAPITAL ALLOCATED

$5.1 M

NCIB ANNOUNCED MAY 20

TH

, 2021

WE ARE

DEPLOYING

CAPITAL TO

DRIVE

SHAREHOLDER

VALUE

Common shares

HRX up 7.1%

OUR FUTURE

Solid financial position

1

Diversified profile

2

Optimize production system

3

Experienced management

team and talented employees

5

Ready to seize opportunities

NON-IFRS FINANCIAL MEASURES

The information included in this presentation contains certain financial measures that are not

prescribed by International Financial Reporting Standards

(“IFRS”) and are not likely to be

comparable to similar measures presented by other issuers.

• EBITDA - Earnings before financial expenses, income tax expense and amortization

expense.

• Adjusted EBITDA - EBITDA as defined above excluding non-recurring items.

• Adjusted Operating income – Operating income excluding non-recurring items.

• Adjusted net income - Net income excluding non-recurring items net of taxes.

• Adjusted earnings per share - Diluted earnings per share calculated on the basis of

adjusted net income.

• Free cash flow - Cash flows related to operating activities, less additions to property, plant

and equipment and net increase in finite-life intangible assets.

WELL-DIVERSIFIED CIVIL

Large commercial

Regional Jet

Business Jet

Helicopter

WELL-DIVERSIFIED DEFENCE

Transport/

Unmaned

Fighter/Trainer

Helicopter

AW101 H60 (Black Hawck)

EF2000 Hawk Gripen F-35 LAH RQ4B / MQ4C C27J KC135 MRTT