INTRODUCTION TO HÉROUX-DEVTEKINTRODUCTION TO HÉROUX-DEVTEKFebruary 2014

FORWARDFORWARD--LOOKING STATEMENTSLOOKING STATEMENTS

In the interest of providing shareholders and potential investors with information regarding Héroux-Devtek,

including management’s assessment of future plans and operations, certain statements in this presentation are

forward-looking statements subject to risks, uncertainties and other important factors that could cause the

Corporation’s actual performance to differ materially from those expressed in or implied by such statements.

Such factors include, but are not limited to: the impact of general economic conditions, particularly in Canada

and the United States; 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; foreign exchange or interest rates fluctuations; stock market volatility; and the impact of

accounting policies issued by Canadian, US and international standard setters. Some of these factors are

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accounting policies issued by Canadian, US and international standard setters. Some of these factors are

further discussed under Risks and Uncertainties in the Corporation’s MD&A, but readers are cautioned that the

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.

Although the Corporation believes that the expectations conveyed by the forward-looking statements 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.

HÉROUXHÉROUX--DEVTEK PROFILEDEVTEK PROFILE

• Canadian Public Company listed on the Toronto Stock Exchange since 1986 (ticker symbol HRX)

• 70 years of Aerospace manufacturing experience

• Third largest landing gear company worldwide

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– Sales from continuing operations of $257.0 million in the fiscal year ended March 31, 2013 ($340.0 million on a trailing 12-month pro forma basis)

– Approximately 1,400 employees in Canada, the U.S. and the U.K.

– 13 facilities totalling more than 775,000 sq.ft.

MAJOR MILESTONESMAJOR MILESTONES

1942 Company founded

Began manufacturing of aerospace components

1960s Designed and manufactured first landing gear systems (Canadair CL-215 and DHC-6)

1987 Acquired McSwainManufacturing (Ohio). Foundation of Industrial product line

1999 Creation of Aerostructureproduct line

2000 Merged with DevtekCorporation

2004 Acquired Progressive Inc.

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Manufactured the Apollo lunar module landing gear

1970 First major landing gear R&O contract for Hill Air Force Base (USAF)

1985 Management buy out and first major military landing gear manufacturing contracts (C-130, F-4, F-15, KC-135R)

2004 Acquired Progressive Inc. (Texas)

2010 Acquired Eagle Tool & E2 Precision Products (Ohio)

2012 Sale of substantially all Aerostructure and Industrial operations

2013 Multi-year contract to manufacture complete landing gear systems for B-777 and B-777X

2014 Acquisition of APPH

ACQUISITION OF ACQUISITION OF APPHAPPH –– FEBRUARY 3, 2014FEBRUARY 3, 2014

United

North America

RoW7%

• Tier-one supplier of landing gear and hydraulic systems, focused on small

and mid-sized systems (previously a subsidiary of BBA Aviation plc)

• US$77M of revenues and US$12.5M of Adjusted EBITDA in 2013

– Sales are split approximately 50% / 50% between military and commercial

– 68% of sales from proprietary products, 32% from built-to-print activities

– 61% of sales to the aftermarket, 39% to OEMs

• 4 facilities in the UK (Bolton, Nottingham and 2 in Runcorn), and 1 in the US

(Wichita) for a total of 216,000 sq. feet

• Diversified customer base with limited exposure to HDI’s current clients

CY2013 Revenue by Region

5

United Kingdom

50%

Mainland Europe

20%

America23%

• Diversified customer base with limited exposure to HDI’s current clients

• Currently employs 390 people, including a team of 40 design engineers

– Substantially all employees to remain with HDI

• Key customers include: BAE Systems, Airbus Helicopters, AgustaWestland,

and SAAB

STRATEGICALLY COMPELLING TRANSACTIONSTRATEGICALLY COMPELLING TRANSACTION

Expand Scale and Scope

� Expand geographical footprint into the European market

� Diversify client base and program exposure

� Acquire significant content on several leading programs

The acquisition of APPH brings significant and imme diate strategic benefits to Héroux-Devtek

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� Cross-selling opportunities to combined client base

� Sharing of best practices and improved productivity will lead to cost synergies

� Pro forma company better positioned to develop European-based programs

Strong Fit with Héroux’s

Growth Strategy

Provides Long-Term

Value Creation Opportunities

� Increase contribution from proprietary / design authority content

� Acquire additional R&D, engineering expertise and know-how in landing gear and hydraulic systems

� Enhance exposure to higher margin aftermarket sales (spare parts & MRO Services)

HÉROUX-DEVTEK TODAY

United Kingdom

Bolton

Scarborough

Kitchener

HDI Headquarters

HDI Locations

APPH Locations Longueuil

Laval Saint-Hubert

North America

7

Runcorn

Nottingham

Approximately 1,400 employees in Canada, the U.S. and the U.K.

13 facilities totalling more than 775,000 sq.ft.

Cleveland

Springfield

Wichita

Pro Forma Revenue MixPro Forma Revenue Mix

54% 46% Military

Commercial

56%

44% Military

Commercial

54% 46% Military

Commercial

Combined CompanyLTM Total Revenue: C$340M(1)

Héroux-DevtekLTM Total Revenue: C$255M

APPHLTM Total Revenue: US$77M

Pro Forma Revenue MixPro Forma Revenue MixB

y S

egm

ent

88

Built-to-Print89%

Proprietary Products

68%

Built-to-Print32%

Proprietary Products

25%

Built-to-Print75%

46%

22%

17%

15% 15%

10%

58%

17% 5%

6%

71%

18%

Aftermarket

OEM

8

By

Pro

duct

Héroux-Devtek moves toward its objective to grow its Proprietary Products content to 30% by 2020

(1) APPH total revenue converted at USD/CAD exchange rate of 1.10

Proprietary Products

11%

MAJOR SHAREHOLDERSMAJOR SHAREHOLDERS

Principal holders of voting securities as Principal holders of voting securities as of June 14, 2013:of June 14, 2013:

Deans Knight Capital Management Ltd.Deans Knight Capital Management Ltd. 14.3%14.3%

CaisseCaisse de de dépôtdépôt et placement du Québecet placement du Québec 13.4%13.4%

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CaisseCaisse de de dépôtdépôt et placement du Québecet placement du Québec 13.4%13.4%

Gilles Gilles LabbéLabbé 12.4%12.4%

I.G. Investment Management, Ltd.I.G. Investment Management, Ltd. 12.2%12.2%

Total Shares Outstanding: 31,539,575 as at February 6, 2014Total Shares Outstanding: 31,539,575 as at February 6, 2014

GLOBAL LANDING GEAR MARKETGLOBAL LANDING GEAR MARKETSe

gme

nt

Pe

net

rati

on

(Co

mm

erc

ial,

Mili

tary

) #3#1 Messier-

DowtyU.T.A.S (Goodrich) #2

#5

10

Mar

ket

Segm

en

t

(Co

mm

erc

ial,

#5 Fokker (APPH formerly #5 before being acquired by Heroux-Devtek)

#4 Liebherr

$100 M $500 M $1 B

STRATEGIC OBJECTIVESSTRATEGIC OBJECTIVES

• To be a world-class organization in our core Landing Gear market

• Leverage our engineering skills to provide customers with integrated solutions

• Focus on value-added products and services

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• Focus on value-added products and services

– Design and development programs

– Complete and complex sub-assemblies

• Be an active industry consolidator

– Strategic acquisitions that will further complement our product and

service portfolio as well as provide new technologies, such as APPH

STRATEGIC OBJECTIVES STRATEGIC OBJECTIVES (continued)(continued)

• Grow internally and through strategic alliances at 10% per year, on average, over the course of a cycle

• Maintain a solid financial position and achieve above average return compared to industry peers

• Maintain and build on our culture of entrepreneurship through

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• Maintain and build on our culture of entrepreneurship through the participation, dedication and commitment of our people

• Achieve a balanced product mix between:

– Civil and military

– New component manufacturing and aftermarket products and services

– Built-to-print vs. proprietary products

STRATEGIC OBJECTIVESSTRATEGIC OBJECTIVES (continued)(continued)

13

Pro forma PP content

of 25% with APPH

MAJOR CUSTOMERSMAJOR CUSTOMERS

END USERS

O.E.M.s

14

TIER I

PRODUCT OVERVIEWPRODUCT OVERVIEWCOMMERCIAL MARKETCOMMERCIAL MARKET

Business/Regional Jets, Turboprops, and Large Commercial Jets

Boeing 737Boeing 737 Boeing 777Boeing 777 Airbus 320Airbus 320 Legacy 500Legacy 500

15

Learjet 45 Sukhoi 100 RRJ

B 787 NLG

BB777 NLG Piston

A320 MLG Fitting

PRODUCT OVERVIEW PRODUCT OVERVIEW MILITARY MARKET MILITARY MARKET

C-130J

CHCH--53K53K

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CHCH--4747

CHCH--53K53K

JSF

CC--5 Axle5 Axle MLG shock strut KCMLG shock strut KC--135135

B52B52--MLG MLG

cylindercylinder

Global Hawk

APPH PRODUCT OVERVIEWAPPH PRODUCT OVERVIEW

EC175Landing Gear

HawkLanding Gear

Servo ActuatorsHydraulics

Jetstream 31/32/41Landing Gear

AW101Landing Gear

C-27JMain Landing Gear

AW159Landing Gear

1717

CitationJetThrottle QuadrantsLatches & Catches

Advance Light Helicopter

Hydraulics Powerpacks

KC390Landing Gear Components

Gripen NGLanding Gear

JAS 39 GripenLanding Gear

Saab 340/2000Landing Gear

Military & Civil EnginesFilters

RECENT RECENT CONTRACTCONTRACT AWARDSAWARDS

Boeing 777 Landing Gear • Signed a long-term contract with Boeing

to supply complete landing gear systems

for the B-777 and B-777X programs

• Deliveries would begin in early calendar 2017,

with an option to extend the contract through 2028

• The B-777 is the world's most successful twin-engine, long-haul airplane with

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• The B-777 is the world's most successful twin-engine, long-haul airplane with

1,548 orders and a backlog of 378 aircraft as at January 31, 2014

H-47 Chinook• Multi-year contract with Boeing to manufacture all Landing Gear for all H-47

Chinook to the US Army (155 shipsets over 5 years plus options up to 150

additional aircraft over the same period)

• Shipment to begin in the first half of calendar 2014

• License from Boeing to fabricate replacement parts and

carry out repair and overhaul services in 12 countries

MARKET TRENDS MARKET TRENDS LARGE COMMERCIAL AIRCRAFTLARGE COMMERCIAL AIRCRAFT

• Passenger traffic expected to grow 6.0% in 2014

– Follows a 5.2% increase in 2013

• Boeing reiterates its forecast of a 5% average annual growth in passenger traffic for the next 20 years

– Comparable to the historical average

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– Comparable to the historical average

• 3-4% growth in mature economies

– North America, Europe

• 6-7% growth in emerging markets

– Asia Pacific, Middle East, Latin America

GROWTH DRIVEN BY GROWTH DRIVEN BY PHENOMENAL INCREASE IN MIDDLEPHENOMENAL INCREASE IN MIDDLE--CLASS SIZECLASS SIZE

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LARGE COMMERCIAL AIRCRAFT DELIVERIESLARGE COMMERCIAL AIRCRAFT DELIVERIES

900

1 200

1 500

Approx. 1,350 deliveries

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0

300

600

1974 1979 1984 1989 1994 1999 2004 2009 2014E

1,350 deliveries expected for

2014 (1,240 in 2013)

PROJECTED INCREASE IN PROJECTED INCREASE IN LARGE COMMERCIAL AIRCRAFT FLEETLARGE COMMERCIAL AIRCRAFT FLEET

40,000

30,000 20,93020,930

GrowthGrowth

59%59%

41,24041,240

35,28035,280

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Source: Boeing 2013 Current Market Outlook

10,000

20,000

20,31020,310

14,35014,350

ReplacementReplacement

41%41%5,9605,960

FleetFleet retainedretained

35,28035,280

2012 2032

STRONG MANUFACTURERS’ ORDER BACKLOGSSTRONG MANUFACTURERS’ ORDER BACKLOGS

5 000

6 000

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8 years of production at current rates

3 000

4 000

janv.-2010 janv.-2011 janv.-2012 janv.-2013 janv.-2014

AIRBUS BOEING

• Boeing:– 737: monthly production rising from 38 to 42 aircraft in the first half of 2014

and to 47 aircraft in 2017

– 777: increased from 7 to 8.3 aircraft per month in early 2013. Under our multi-year contract, Héroux-Devtek’s deliveries would begin in early calendar 2017, with an option to extend the contract through 2028.

– 787: monthly output increased from 7 to 10 aircraft in January 2014; further increasing to 12 in 2016 with plans to reach 14 by the end of the decade

SCHEDULED PRODUCTION RATE SCHEDULED PRODUCTION RATE INCREASES AND NEW MODELSINCREASES AND NEW MODELS

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increasing to 12 in 2016 with plans to reach 14 by the end of the decade

• Airbus:– 330: monthly production rose from 9 to 10 in April 2013

• New models to enter service over the next 2 years– Airbus 350 (Q4-2014 with planned ramp up to 10 aircraft per month in 2018)

– Cseries (second half of 2015)

• New versions of existing models by the end of the decade– Airbus 320 neo, Boeing 737 MAX, Boeing 777X

COMMERCIAL AEROSPACE TRENDSCOMMERCIAL AEROSPACE TRENDSREGIONAL AIRCRAFTREGIONAL AIRCRAFT

• Turboprop demand remains stable but Bombardier losing ground to ATR

– French builder ATR’s backlog was 221 aircraft as of December 31, 2013,

representing nearly three years of production

– Bombardier has firm orders for 32 Q-400 aircraft as of September 30, 2013

• Regional jet market remains weak

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• Regional jet market remains weak

– Bombardier’s Regional Jet firm backlog was 89 aircraft as of September 30,

2013

– Embraer :

o Backlog of 279 E-Jets and backlog of 150 second generation E2s as of

December 31, 2013.

o Launched new re-engined E-series jets: 365 orders in one day!

BUSINESS JET MARKETBUSINESS JET MARKET

• Industry shipments decreased slightly in the first nine months of 2013 (as reported by GAMA)

• Leading indicators remain positive

– Increased aircraft movement of 2.3% in the U.S. in 2013

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– Decrease in used jets for sale as a % of the fleet

BUSINESS JET MARKET BUSINESS JET MARKET (continued)(continued)

• Recovery expected to last approximately five years

• Period corresponding to the ramp-up of our design and development programs 900

1200

1500

Business aircraft shipmentsBusiness aircraft shipments

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development programs

– Legacy 450 & 500

– Learjet 85

– Dassault Falcon 5X

0

300

600

900

2006 2009 2012 2015 2018 2021

LANDING GEAR DESIGN PROGRAMSLANDING GEAR DESIGN PROGRAMS

• Legacy 500

– Certification in the first half of calendar 2014, according to Embraer (to deliver production unit in 2014)

• Legacy 450

– Successful first flight last December

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• Learjet 85

– Bombardier’s comments during a January 2014 investor day in Mexico called for the first flight “to happen soon”

• Followed by Sikorsky CH-53K and DassaultFalcon 5X

– Further increase the proportion of sales from proprietary products and provide better control over revenues

MARKET TRENDS MARKET TRENDS MILITARY AEROSPACEMILITARY AEROSPACE

• Market should remain difficult despite recent budget agreement

• Héroux-Devtek is affected by these budget restrictions

– Could be affected beyond fiscal 2014

– Must proactively optimize asset utilization and adapt

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– Must proactively optimize asset utilization and adapt

supply to demand, as evidenced by recent workforce

reductions

• Diversified military portfolio

– Participation on many leading programs (H-47, JSF, C-130)

– Good balance between new component manufacturing as

well as aftermarket products and services

– APPH brings further diversification, as it has very little

exposure to the U.S. military market

STST--HUBERT ENGINEERING FACILITYHUBERT ENGINEERING FACILITY

• Landing Gear Test Laboratory

– Regroups all resources for landing gear

design, development and testing

– We are involved in all phases

leading to certification

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• Instrumental in meeting key milestones on design & development programs

– Sikorsky CH-53K, Learjet 85,

Embraer Legacy 450/500, Dassault Falcon 5X

• Enhances our value proposition, as we evolve into a global full-service provider

CREATING VALUE THROUGH INVESTMENTSCREATING VALUE THROUGH INVESTMENTS

• Invest about 5% of our sales in R&D

• Industry Canada provided a $48.9 million repayable loan contribution over 5 years

– Support our engineering efforts related to R&D of new technologies

for complete landing gear systems

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for complete landing gear systems

– Will further improve our competitive position

• Changing industry conditions require companies to be flexible and to adapt rapidly

– We invest in our facilities to increase efficiency and productivity by

reducing costs

SIGNIFICANT INVESTMENTSSIGNIFICANT INVESTMENTS

• Implementation of Lean Manufacturing

– Significant productivity gains

• Continuous investment in employee training

– 4Rs for success: Respect, Responsibility,

Recognition, Resilience

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• Significant investments made in past years

– Longueuil: Modernization of the plating facility ($22M in FY07 to FY09)

– Kitchener: New equipment for the ramp-up of the Messier-Bugatti-Dowty

(A-320, B-787) and Goodrich (B-777) contracts ($27M in FY06 to FY09)

– St-Hubert: Engineering testing facility ($4M in FY11 & FY13)

– Cleveland facility ($3M in FY12-FY13)

FINANCIAL SUMMARYFINANCIAL SUMMARY

March 31 fiscal year-end 2013 2012 20112

Sales1 ($M) 257.0 253.5 239.0

EBITDA1,3 ($M) 33.0 37.4 32.8

EBITDA1 margin 12.8% 14.8% 13.7%

Net income1 ($M) 13.8 15.9 11.4

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Net income1 ($M) 13.8 15.9 11.4

Diluted EPS1 ($) 0.44 0.52 0.38

Net income ($M) – incl. discontinued op. 132.0 26.5 19.1

Cash flow from operations1 ($M) 29.0 31.7 30.5

(1) From continuing operations(2) Includes 11 months of Landing Gear USA following acquisition(3) Earnings, before interest, taxes, depreciation and amortization

FISCAL 2014 FISCAL 2014 –– Q3 RESULTSQ3 RESULTS

Periods ended December 31(from continuing operations)

Q3FY2014

Q3FY2013

YTDFY2014

YTDFY2013

Sales ($M) 61.4 61.7 180.8 183.2

Adjusted EBITDA1 ($M) 8.3 7.7 22.6 22.9

Adjusted EBITDA margin 13.5% 12.4% 12.5% 12.5%

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Net income ($M) 2.6 3.2 8.0 8.8

per share - diluted ($) 0.08 0.10 0.25 0.29

adjusted per share – diluted ($) 0.12 0.10 0.29 0.29

Cash flows related to operating activities2 4.7 7.0 16.5 20.0

1 Earnings, before interest, taxes, depreciation, amortization and acquisition-related costs.2 Before net change in non-cash items

HEALTHY FINANCIAL POSITIONHEALTHY FINANCIAL POSITION

As at (in millions of Cdn $)

December 31, 2013

March 31, 2013

March 31, 2012

Cash & cash equivalents 98.2 101.3 62.0

Long-term debt (incl. current portion) 68.7 63.0 119.1

Net debt-to-equity (net cash-to-equity) ratio (0.13:1) (0.17:1) 0.23:1

Book value per share ($) 7.47 7.07 8.01

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Book value per share ($) 7.47 7.07 8.01

• Cash & cash equivalents of $98.2M or $3.11 per share

• Authorized revolving credit facility of $150M

– Only $23.4M used at December 31, 2013

– Could be increased by up to $75M, subject to lenders’ consent

– Five-year term maturing on March 15, 2016

FINANCIAL POSITION FINANCIAL POSITION FOLLOWINGFOLLOWING THE THE ACQUISITION OF ACQUISITION OF APPHAPPH

As at (in millions of Cdn $)

Pro-FormaDecember 31, 2013 (2)

Actual December 31,

2013

Cash & cash equivalents 39.7 98.2

Long-term debt-to-equity ratio 0.59:1 0.28:1

Net debt-to-equity (1) 0.43:1 (0.13:1)

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(1): Defined as total long-term debt, including the current portion, less cash and cash equivalents, over shareholders’ equity.

(2): Net of cash and Credit Facility used, in regards to the purchase of APPH. Closing rates of 1.0636 used to translate the U.S.

denominated cash and cash equivalents and long-term debt.

• Pro forma net funded debt-to-EBITDA ratio of 1.5x, excluding government loans ($42 million)

• Approximately $100 million utilized from our credit facility

OUTLOOKOUTLOOK

• Given opposite directions for the commercial and military markets, FY-14 sales should be slightly lower than last fiscal year, excluding APPH

– Commercial: Robust activity, mainly in the large commercial aircraft market, should yield sales

growth in that market

– Military: Expected sales decline due to U.S. budgetary restrictions

• Excluding APPH, FY-15 sales should remain relatively stable

• Major contracts signed in recent years not yet fully reflected in results

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• Major contracts signed in recent years not yet fully reflected in results

– We maintain our objective of growing annual revenues at 10%, on average, over the course of a

cycle, internally and through strategic alliances

– Multi-year contract with Boeing to supply complete landing gear systems for the B-777 and 777X;

deliveries would begin in early calendar 2017, with an option to extend the contract through

2028

– Additional sales from design and development contracts (Learjet 85, Embraer Legacy 450/500,

Dassault Falcon 5X and Sikorsky CH53K)

– Further ramp-up of a ten-year, $115M contract from Messier-Bugatti-Dowty for three large

commercial aircraft programs

– Boeing H-47 Chinook landing gear + aftermarket license contracts signed in fiscal 2013

OUR DISTINCTIVE ADVANTAGEOUR DISTINCTIVE ADVANTAGE

• Our engineering team sets us apart from most competitors

– We offer our clients integrated landing gear solutions

– Design, development, tests, certification, fabrication, assembly and

aftermarket support of complete landing gear systems

• We have a solid reputation in the market for aircraft weighing

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• We have a solid reputation in the market for aircraft weighing less than 50,000 kilograms

– Leverage this reputation to enhance our leadership

• Global OEMs are increasingly seeking partners willing to invest with them in development programs

– Héroux-Devtek has all the required elements to become a leading partner

IN SUMMARYIN SUMMARY

• We are a world-class player in the landing gear market with a world-class team– Leverage the strength of our engineering team by offering fully

integrated solutions to our customers

• Boeing B-777 contract proves our capability to be competitive on very large-scale projects

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competitive on very large-scale projects

• Acquisition of APPH provides significant and immediate benefits– New market, new programs, new world-class customers

– Sharing of best practices and cross-selling opportunities

• We will continue to create value for our shareholders

THANK YOUTHANK YOUTHANK YOUTHANK YOU