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INTRODUCTION TO HÉROUX-DEVTEK

May 2018

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; 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.

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HDI TODAY AND TOMORROW

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13 INSTALLATIONS6 Canada4 U.S.A3 U.K. WORLD’S 3rd LARGEST

PRODUCER OF

LANDING GEAR

1,332 EMPLOYEES

16 INSTALLATIONS6 Canada5 U.S.A3 U.K.

2 Spain

FISCAL 2018 SALES $387 M

34% PROPRIETARY

PRODUCTS

PRO FORMA SALES $575 M

42% PROPRIETARY

PRODUCTS

1,764 EMPLOYEES

FOLLOWING ACQUISITIONS

CESA & BEAVER

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HISTORY

Company founded

Began manufacturing of

aerospace components

1942

Manufactured the Apollo

lunar module landing

gear

1966

First major landing gear

R&O contract for Hill Air

Force Base (USAF)

1970

Management buy out1985

Initial public offering1986

Creation of Aerostructure

and Industrial operations

1987+

Merged with Devtek Corporation2000

Multi-year contract to manufacture

complete landing gear systems for

Boeing 777 and 777X

2013

Acquired APPH (UK and

Wichita, KS)

2014

Sale of substantially all of the

Aerostructure and Industrial

operations

2012

Delivery of first production

shipsets of Boeing 777 contract

2016

Agreement to acquire CESA from Airbus SE

2017

2018 Agreement to acquire Beaver

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2

4

6

8

10

12

14

16

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2013 2014 2015 2016 2017 2018

OWNERSHIP AND HDI PERFORMANCE

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CDPQ, 13.3%

D&O's and key Mgnt, 11.9%

Fiera Capital, 11.3%

Deans Knight Capital, 10.0%

Others / Retails, 53.5%

MAJOR SHAREHOLDERS5-year share price performanceShares outstanding: 36.2M

Market capitalization : $580M

13% annualized return

HDI main Customers CESA Main Customers

OUR MAIN CUSTOMERS

Beaver Main

Customers

66

Bigger Aerospace Market

CESA - MANUFACTURER OF LANDING GEAR,

ACTUATION AND HYDRAULIC SYSTEMS

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Annual sales of approximately €94M (~$149M)(1)

Estimated adjusted EBITDA(2) of €11M (~$17M)(1)

Purchase price of €140 million (~$222M)(1), subject to

customary closing adjustments

State-of-the-art industrial complex in Madrid with minimal

investment requirements

Designs, manufactures, assembles and tests aerospace

components for commercial (~33%) and defence (~67%)

segments

Strong management team with 340 talented and committed

employees

Strategic and Accretive transaction

Sales Segmentation

(1) Unless otherwise indicated, all amounts are in Canadian dollars. Approximate Canadian dollar equivalents to Euros are based on the exchange rate as of March 31, 2018.

(2) This is a non-IFRS financial measure which does not have a standardized meaning prescribed by IFRS and may therefore not be comparable to similar measures presented by other issuers. Refer to the

“Non-IFRS measures” section for further details.

OEM52%

Spare Parts

20%

MRO9%

Services7%

Development12%

Closing of Transaction expected

during Q2 of FY2019

CESA STRATEGIC BENEFITS

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Diversified Scope of Products and Services

Fluidmechanical Systems

and Landing Gear

Systems of Hurkus, C-295,

LCH/LAH helicopter, among

others

Actuation Systems

Door and ramp actuation

systems (A400M, C-295, S-92)

and landing gear actuation

systems (A330, A380, A350)

Special Requirement

Equipment

Special performance & weight

requirements or related to new

technical concepts

Hoist unit & ERA for A330

MRTT

MRO & Services

Fleet support for final

assembly lines, flight test

centers and third party

components

Direct access to Airbus, long-term business relationship with Airbus

Synergies resulting from increased revenue through cross-selling.

Expansion into complementary actuation and hydraulic systems activities.

Increased sales from intellectual property/sole-source supply business

Sales of approximately US$30M (~$38M)(1)

Purchase price of US$23.5M (~$30M)(1)

Operates three facilities totaling 82,200 square foot in Livonia, Michigan

Strong long-standing relationships with industry leading OEMs and their suppliers

Founded in 1952 and employs approximately 100 qualified employees

Cross-selling by combining HRX and CESA’s extended customer base with Beaver’s expertise and

product offering

BEAVER AEROSPACE & DEFENCE

(1) Unless otherwise indicated, all amounts are in Canadian dollars. Approximate Canadian dollar equivalents to US are based on the exchange rate at March 31, 2018.

Products Platforms

F-15P-8A Poseidon

B737

A-320

A-350

Ball

Screws

Actuators

Gears, Splines

and Other

Repair/

Overhaul

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Recent Developments

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FOUR YEAR CONTRACT WITH AAR

4-year agreement with AAR Corporation

Terms of the agreement:

Remanufacturing of landing gear

assemblies of the KC-135 aircraft

Manufacturing of spare parts for the C-130

and KC-135 aircraft

Manufacturing of other landing gear

components

The contract’s total value could exceed 65 million

CAD$

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Financial Information

LONG-TERM RESULTS GROWTH

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* This is a non-IFRS financial measure which does not have a standardized meaning prescribed by IFRS and may therefore not be comparable

to similar measures presented by other issuers. Refer to the Corporation’s MD&A for further details.

Percentages represents above

variables expressed as a % of sales

6.0

%

7.5

% 8.2

%

8.2

% 9.2%

7.9

%

5.7

%

1.8%

9.3

%

8.7

%

14

.7%

12

.7%

14

.9%

13

.7%

14

.6%

12

.8% 13

.2%

13

.1%

15

.7%

15

.1%

0.9500

1.0000

1.0500

1.1000

1.1500

1.2000

1.2500

1.3000

1.3500

1.4000

0

10

20

30

40

50

60

70

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Op

erat

ing

inco

me

and

ad

just

ed E

BIT

DA

(1)in

$M

of

Can

adia

n d

olla

rs

Compound annual growth rate of 6% for Operating income and 10% for Adjusted EBITDA* over the last 10 years

Operating Income ($M) Adjusted EBITDA ($M) FX Canadian $ / 1 US $ equivalent

YTD RESULTS AND FINANCIAL POSITIONFor the years ended March 31,

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(1) Including the current portion, excluding deferred financing costs(2) This is a non-IFRS financial measure which does not have a standardized meaning prescribed by IFRS

and may therefore not be comparable to similar measures presented by other issuers.

In millions of Cdn $, except ratiosMarch 31,

2018

March 31,

2017

C.flows related to operating activities 56.1 56.1

Free Cash Flow(2)

50.8 33.0

As a % of sales 13.1% 8.1%

RESULTS FINANCIAL POSITION

CASH GENERATION

In millions of Cdn $, except ratiosMarch 31,

2018

March 31,

2017

Cash and cash equivalents 93.2 42.5

Long-term debt (1)

132.0 134.8

Net debt 38.8 92.3

Net debt to Adjusted EBITDA(2)

ratio 0.68 1.50

Net funded debt to Adjusted EBITDA(2)

ratio 0.02 0.84

Net debt/equity ratio 0.10 0.26

In millions of Cdn $, except per share

data2018 2017 Variance

Sales 386.6 406.5 -4.9%

Commercial 195.1 210.8 -7.4%

Defence 191.5 195.7 -2.2%

Operating income 23.4 35.6 -34.2%

Adjusted operating income(2)

30.3 35.9 -15.5%

Adjusted EBITDA(2)

56.9 61.4 -7.4%

As a % of sales 14.7% 15.1%

Net income 13.7 31.8 -57.0%

per share, diluted 0.38 0.88

Adjusted net income(2)

24.2 26.4 -8.1%

per share, diluted 0.67 0.73

STRONG FREE CASH FLOW GENERATION

GUIDANCE

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Metric Guidance

Fiscal 2019 sales growth Stable as compared to Fiscal 2018

Fiscal 2019 additions to PP&E Approximately $15 million

Long-term sales growth* To be updated after closing of acquisitions

Refer to “Forward-looking statements” at the beginning of this presentation for considerations related to the above guidance, and to the Corporation’s Fiscal

2018 MD&A for underlying assumptions.

* Long-term sales growth guidance is not being provided at this time as it will be materially impacted by the acquisitions of CESA and Beaver. New long-term

sales guidance will be provided after the closing of these two transactions..

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Sustainable Future

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*Refer to “Forward-looking statements” at the beginning of this presentation for considerations related to the above guidance, and to the Corporation’s Fiscal 2018

MD&A for underlying assumptions.

GROWING PROPRIETARY PRODUCTS

• A sustainable future is driven by more

proprietary products

• Over the past years, sales of proprietary

products have constantly progressed:

⎼ 10% of sales before APPH acquisition in

February 2014

⎼ 25% of sales after APPH acquisition

⎼ 34% of sales in fiscal 2018

• Also includes aftermarket sales for programs

where we were involved in the design

PROPRIETARY

PRODUCTS

42% proforma sales of

proprietary products with

CESA/Beaver acquisition*

34%OF SALES

• Important growth avenue as more aircraft

equipped with our products are put into

service

• Consolidated our European maintenance

and repair activities at our Runcorn, U.K.

facility

• New 4-year contract with AAR which will

help us to mitigate the loss of the previous

USAF contract

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31%OF SALES

AFTERMARKET &

PRODUCT SUPPORT

36% proforma sales of aftermarket

activities with CESA/Beaver acquisition*

*Refer to “Forward-looking statements” at the beginning of this presentation for considerations related to the above guidance, and to the Corporation’s Fiscal 2018

MD&A for underlying assumptions.

GROWING AFTERMARKET ACTIVITIES

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Economic Outlook

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10,000

40,000

30,000

20,000

23,480

23,470

Growth

57%

Retained fleet 5,920

46,950

41,030

2016 2036

50,000

0

17,560

Replacement

43%

Source: Boeing 2017 Current Market Outlook

GLOBAL FLEET TO DOUBLE OVER THE NEXT

20 YEARS

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41,030 AircraftAverage of 2,050 per year

Order backlogs(March 31, 2018)

SOLID INDUSTRY BACKLOGS

• Conditions continue to improve

• Higher funding in the U.S. from US$585

billion in 2017 to US$639 billion in 2018.

Initial fiscal 2019 President budget calls

for a 12.1% increase over 2018

• Increase in funding in Canada over the

next 10 years from $18.9 billion in 2017 to

$32.7 billion in 2027

• NATO European member countries

defence spending increased by 4.1% in

2017 in an effort to reach a target of

defence spending set at 2% of GDP

• Our operations on both sides of the

Atlantic stand to benefit from this greater

spending

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DEFENCE SECTOR OVERVIEW

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• Héroux-Devtek in a good position given its extensive diversification

– Longstanding, well-established programs: AW-101, Hawk, CH-47, C-130, P3

and C-27

– AAR contract

– New programs: Gripen E, F-35, CH-53K, KF-X and KC-390

DEFENCE SECTOR OVERVIEW

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Conclusion

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WHAT’S NEXT

• Set for growth:– Acquisitions of CESA and Beaver provide expanded sales;

• Cross-selling synergies to be realized between HDI, CESA and Beaver

– HDI’s existing platforms (namely 777 and 777X, Gripen E, CH-53K, F-35,new Falcon 6X) are projected to increase in volume;

• We will continue building a sustainable future throughintegration of our new acquisitions

• We are well-positioned to leverage our past investments and sign new contracts

• We have strong reputation on the Aerospace Market.

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The information included in this presentation contains certain financial measures* that arenot prescribed by International Financial Reporting Standards (“IFRS”) and are not likelyto be comparable to similar measures presented by other issuers.

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

• Adjusted EBITDA - EBITDA as defined above 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 ofadjusted net income.

• Free cash flow - Cash flows related to operating activities, less additions to property, plantand equipment and net increase in finite-life intangible assets.

* Refer to the Corporation’s MD&A for further details

NON-IFRS MEASURES

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Thank You