Outlook 022210 FINAL - corporate-ir. · PDF fileMaterial in this presentation contains...

158
Cooper Industries 2010 Outlook Meeting New York City February 23, 2010

Transcript of Outlook 022210 FINAL - corporate-ir. · PDF fileMaterial in this presentation contains...

Cooper Industries2010 Outlook Meeting

New York CityFebruary 23, 2010

Material in this presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. It is possible that our actual results and financial condition may differ, possibly materially, from the anticipated results and the financial condition indicated in these forward-looking statements. For us, particular uncertainties that couldcause our actual results to be materially different than those expressed in our forward-looking statements include: market and economic conditions, competitive pressures, volatility of raw material, transportation and energy costs, our ability to develop and introduce new products, our ability to implement revenue growth plans and cost-reduction programs, mergers and acquisitions and their integration, implementation of manufacturing rationalization programs, changes in mix of products sold, changes in financial markets including currency exchange rate fluctuations, changes in legislation and regulations (including changes in tax laws), and the resolution of potential liabilities and insurance recoveries resulting from Pneumo-Abex related asbestos claims. A discussion of these factors may be found in the Company’s Annual Report on Form 10-K and other recent SEC filings.

A reconciliation of any non-GAAP financial measure included in this presentation to the most directly comparable GAAP measure can be accessed in the “Investors” section of the Cooper Industries website, www.cooperindustries.com.

This is a copyrighted presentation of Cooper Industries plc and is intended for the exclusive use of the participating audience. No other use of this presentation may be made without the express written consent of Cooper Industries.

Cooper Industries2010 Outlook Meeting

Kirk HachigianChairman & Chief Executive Officer

4

2010 Outlook

Cooper Lighting

Cooper Power Systems

Cooper Crouse-Hinds

SVP Corporate Development

CFO

Cooper Lighting

Cooper Power Systems

Cooper Safety/ Globalization

Cooper B-Line

SVP Corporate Development

CFO

Today

Significant Exposure To Key End Markets And Cooper Leadership Team

Globalization– China NX– Middle East NX

Notification Platform

Cooper Crouse-Hinds– Cooper MTL

SVP Corporate Development

CFO

2008 Outlook 2009 Outlook

5

Cooper Today Kirk Hachigian, Chairman & CEO

Cooper Lighting Neil Schrimsher, President

Cooper Power Systems Mike Stoessl, President

Cooper Safety/Globalization Grant Gawronski, VP Int’l.

Cooper B-Line Kevin Kissling, President

Innovation & M&A Tom O’Grady, SVP of Corp. Dev.

2010 Outlook Terry Klebe, SVP and CFO

Today’s Agenda

Summary Kirk Hachigian, Chairman & CEOSummary Kirk Hachigian, Chairman & CEO

Organization Update

Terry Klebe (CFO) to retire in 2010

Neil Schrimsher (Division President, Cooper Lighting) promoted to additional role of EVP Cooper Connection─ Mark Eubanks promoted to VP/GM of Cooper

Lighting

Grant Gawronski (VP International) promoted to Division President, Cooper Crouse-Hinds

Laura Ulz (VP Operations) promoted to Division President, Cooper Tools

Strong Internal Bench Allows Smooth Transition6

7

2009 HighlightsSales down 22%, adjusted EPS fell only 30%

Exited the year with Electrical margins of 15%+ and Tools’ margins of 8%+:– No cost headwinds in 2010 (pension/401K/furloughs)

Free cash flow of $633M, or 12% of sales (9th year FCF > recurring income):– Total working capital down 23% (inventory down

25%)– Net debt of $553M– Capital expenditures of $127M (vs. $137M last year)– Completed 3 acquisitions– Protected $1/share dividend

Exited 2009 with our highest new product vitality in many years with improved global platform

Exiting Toughest Economy In 50 Years Extremely Well Positioned

8

50.7%

7.1%10.8%

5.9%2.7%

40.4%

-0.9%

0.4%

26.5%

10 Years 5 Years 1 Year

8

Total Shareholder ReturnCompound Annual Return

For Annual Periods Ending December 31, 2009

Peer Group: Acuity; Danaher; Dover; Eaton; Emerson; Hubbell; Illinois Tool Works; Snap-On; Ingersoll-Rand; Newell Rubbermaid; Parker-Hannifin; Pentair; Stanley Works; SPX; Thomas & Betts

Cooper Delivers Consistent, Sustainable Long-Term Shareholder Returns

Cooper Peer GroupAvg.

S&P 500

9

Four Legs To Cooper’s Story

Core culture and values:– Who we are– How we behave– Culture of accountability

Build/acquire great businesses and brands

Execute our five business initiatives every day –process driven and sustainable performance

Maintain a conservative capital structure and invest for the long-term

Execute For Short-term ResultsWhile We Invest In Our Long-term Future

Execute For Short-term ResultsWhile We Invest In Our Long-term Future

10

CULTURE/VALUES

COOPER

INITIATIVES

Evolution Of Change

PEOPLE

Building A Leadership Team, Business Process AndCulture/Values To Drive Long-term Exceptional Performance

Building A Leadership Team, Business Process AndCulture/Values To Drive Long-term Exceptional Performance

GLOBAL BUSINESS PORTFOLIO

10

11

“Change” Redefines Cooper Industries

Spent $100M And Five Years Installing A Single Enterprise SystemStrengthened Our Portfolio To Sustain Higher Core Growth:– 61% Industrial/Utility – Built Strategic Growth Platforms To Penetrate New Markets– Expanded Internationally

Improved Customer Loyalty, Advanced New Product Development And Built An Industrial Training CenterLowered Our Fixed Cost Structure– LCC Sourcing − Value Engineering– Lean/Productivity − In-Sourcing

Assembled World-class Leadership TeamStrengthened Our Balance Sheet And Doubled Our Free Cash Flow…Returning More Cash To Our Owners

Our People, Processes And Culture/Values Drive Long-Term Performance

Our People, Processes And Culture/Values Drive Long-Term Performance

12

Portfolio In Great Shape

ElectricalProducts

Tools

Int’l.

U.S.Commercial

Utility

Industrial

Oth

erRes

i.

89%Electrical

61% Industrial/Utility(Was 47% 6 Yrs Ago)

39% International

(Was 26% in 2000)

Large, Global, Healthy End-Markets…That Long-term…Grow At 3%

Large, Global, Healthy End-Markets…That Long-term…Grow At 3%

Based on FY2009

~70%Early/Mid Cycle

Early

Mid

Late

13

Long-Term Global Trends

Global Infrastructure Safety / Protection /Mass Notification

Energy Demand / Utility Grid

Conservation / “Green” /Energy Efficiency & Reliability

Cooper Uniquely Positioned To Penetrate Key Global TrendsCooper Uniquely Positioned To Penetrate Key Global Trends

14

Bussmann Lighting

Wiring DevicesSafety

Electrical Electronic

Transportation

Consumer

Commercial &

Industrial

Architectural

B-Line

Support Products

Enclosures

Wire Management

Crouse-Hinds

Explosion-Proof

InterconnectCommercialProducts

Airport Lighting

ConsumerElectrical Distribution

Commercial Lighting

Fire & Mass Notification

Glands/

Boxes

Emergency Lighting

Power Systems

Platforms

Platforms For Organic And Acquired GrowthPlatforms For Organic And Acquired Growth

UtilityAutomation

Transformers

ReliabilityProducts

Line Installation &

Protection

Tools

Industrial Power Tools

Consumables

Hand Tools

Joining Tools Chain

Products

Assembly Systems

Instrumentation

15

BussmannTransportation

Power SystemsGlobal Products

Power SystemsUtility Automation

Crouse-Hinds Connectivity

Crouse-Hinds Instrumentation

Crouse-Hinds Industrial EX

LightingControls

Cooper SafetyFire/Mass Notif.

LightingLED

Cooper Architectural & Safety Lighting

BussmannElectronics

BussmannElectrical

Acquisition Priorities

Highest Impact, Largest Market Opportunities; Focus Primarily On Industrial / Utility

Highest Impact, Largest Market Opportunities; Focus Primarily On Industrial / Utility

Access To New Markets

Filtronic$2.2BJoining ToolsGS Metals$1.3BB-Line Support Sys.

HyundaiMTLPauluhnIluram

$1.5B CCH Industrial EX

WPIG&H

$6.0BSpecialty Connectors

Transtech$.3BAirport Lighting

Nature$18.0BCPS Global Standards

Save Fuse$3.3BBussmann Electronics

Xian$6.6BBussmann Electrical

Sure PowerOmnex

$2.9BBussmann Transportation

RSAIo LightingClarityIMS

$1.5BLEDMEDCWheelockMadahcomRoam Secure

$2.0BNotification

NovitasPolaronPCITranspower

$2.7BLighting Controls

CannonCybectecCyme

$1.9BUtility Automation

AcquisitionsMarket SizePlatformAcquisitionsMarket SizePlatform

Platforms Provide Access To $50B+ Of Higher Growth, More Profitable, Less Cyclical, More Global Markets

Platforms Provide Access To $50B+ Of Higher Growth, More Profitable, Less Cyclical, More Global Markets 16

17

Cooper’s Business Initiatives

Driving Continuous Improvement – Order To Cash

Ease of Doing Business / Quality / Delivery

Leveraging Technology To Drive Customer Value

Competing And Winning Everywhere In The World

Acquire, Assess, Develop, Deploy

CustomerLoyalty

Innovation

Globalization

OperationalExcellence

TalentDevelopment

Clear, Measurable Initiatives To Drive Growth And Our Global Competitive Position

Clear, Measurable Initiatives To Drive Growth And Our Global Competitive Position

1818

Strategic Pricing

Technology Center

Marketing Communication

Loyalty Initiatives

Strategic Marketing

Cooper Connection

Customer Loyalty

Sales Force Excellence

Product Mgmt. Leadership

+

Building Upon A Legacy Of Innovation, Service & ExpertiseBuilding Upon A Legacy Of Innovation, Service & Expertise

19

7%

25%

15%

19%

2003 2008 2009 RevisedTarget

New Product % of Sales

Innovation - Product Vitality

New Product Leadership DrivesOrganic Growth And Margin Expansion

New Product Leadership DrivesOrganic Growth And Margin Expansion

LED Innovation Center Opened July 2009 (Peachtree City, GA)

– Reduced New Product Time To Market

– Leverage Across Cooper Businesses

Cooper Ranked #9 Industrial Innovator, Up 20 Places From 2008*

* From The Patent Board’s Dec 09 Industrial Component Supplier Patent Scorecard

20

Significant Change In Global Exposure….39% Of Sales in 2009 Outside The U.S.

Significant Change In Global Exposure….39% Of Sales in 2009 Outside The U.S.

Globalization – Building Global Presence

2000 - 2006 2007 2008 2009

26%

32%34%

37%39%

% of Sales Outside of U.S.

Revs $1.2B $1.6B $2.0B $2.4B $2.0B

21

Talent Development

Building A “Talent Academy”Building A “Talent Academy”

Talent Acquisition

Talent Deployment

Talent Assessment & Development

• University Recruiting• Recruiter Strategy• Networking

• Assessment & Potential

• Robust MD&P• Global Leaders

• Development Programs

• Learning Curriculum• Cooper University• Performance Mgmt.

& Compensation

• Succession Planning

• Career Paths

Pay For Performance

22

Enhanced Competitive Position

New enterprise system

Core productivity program

Lower overall fixed cost

Less capital intensive business model

Faster, Leaner With Core Productivity Programs In PlaceFaster, Leaner With Core Productivity Programs In Place

23

OngoingProductivity FromMVP/Lean/VAVE

OngoingProductivity FromMVP/Lean/VAVE

Fully LeverageGlobal Strategic

Sourcing &Supply Chain

Fully LeverageGlobal Strategic

Sourcing &Supply Chain

SafetyDelivery & QualityInventory & PayablesDirect/Indirect Material CostsLabor CostsInfrastructure Costs

Strategic Imperative

Area Of Focus Benefit

Improve Employee Safety

Increase Customer Service & Loyalty

Ongoing Cost Out & Elimination of Waste

Reduce Working Capital

Operational Excellence

Optimize GlobalFootprint

Optimize GlobalFootprint

Strong Foundation For Continuous Improvement & GrowthStrong Foundation For Continuous Improvement & Growth

24

$175

$115

$74

$100 $103 $97$85

$116 $127

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Capital Expenditures

3.9% 2.7% 1.9% 2.5% 2.3% 2.1% 1.6% 2.0% 2.5%% ofSales

Less Capital Intensive Business Model…While Funding Strategic Growth

Less Capital Intensive Business Model…While Funding Strategic Growth

($ In Millions)

$137

2.1%

7%

2525

RECEIVABLES

$797.7

$1,011.4

2008 2009

2009 Operating Working Capital

61 d

ays

58 d

ays

PAYABLES

$492.5$384.4

2008 2009OPERATING

WORKING CAPITAL

$1,160.7

$897.2

2008 20095.

6 tu

rns

5.4

turn

s

INVENTORY

$641.8

$483.9

2008 2009

6.8

turn

s

6.8

turn

s

Continued Exceptional Operating Working Capital Execution

25%

21%23%

22%

26

0.0

0.5

1.0

1.5

2.0

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Free Cash Flow To Income*

* Recurring Income from Continuing Operations

$196 $247 $344 $314 $428 $384 $383 $490 $535 $682 $761 $633

Strong Cash Flow In Up And Down CyclesStrong Cash Flow In Up And Down Cycles

($ In Millions)

5.4%6.4%

7.7%

7.5%

10.8%

9.5%

8.6%10.4%

10.3% 11.6% 11.7%

12.5%

As a % of Sales

2727

Total Debt (Dec. 31, 2009)

Amount Rate Due Date$ 325 3.55% Nov 20121

300 5.56% Apr 2015300 5.75% Jul 2017

925 Long-Term Debt10 Short-Term & Misc. Long-Term Debt

0 Commercial Paper935 Total Debt

(382) Cash

$ 553 Net Debt ($952 at December 31, 2008)

Balance Sheet Remains A Strategic AssetBalance Sheet Remains A Strategic Asset1 Swapped to Euro Debt - 5.25% note rate at date of issuance

($ Millions)

28

2009 Summary / 2010 OutlookCost structure and balance sheet aligned for new economic reality

Continued to invest during the downturn:– Vitality Index at a record level– Expanded global footprint– Completed three acquisitions

Portfolio diversity will provide years of end-market growth especially coming off such depressed levels

Demonstrated cash generation ability in up and down economies

Remain focused on total shareholder returns (guidance/dividend/buy-backs)

Well Positioned For Another Decade OfExceptional Shareholder Returns

Cooper LightingNeil Schrimsher, President

Cooper Industries2010 Outlook Meeting

Cooper Lighting Business Portfolio

Broad Portfolio Of Industry Leading Products & BrandsBroad Portfolio Of Industry Leading Products & Brands

Leadership Brands…

30

Cooper Lighting Overview

Revenues: ~$1.1 Billion

Initiatives Provide Strong Foundation & Enable Performance

Initiatives Provide Strong Foundation & Enable Performance

Customer LoyaltyDelivering Solutions to Channel Members & End User Markets

Innovation

Extensive Product Portfolio

New Product Vitality Over 25%Globalization

Specification with Higher End Architectural Products & Controls

Operating ExcellenceProductivity Gains – $32M BenefitWorking Capital Improvements –230bps

Geographic Mix: ~80% U.S.

Market Performance

31

Cooper Lighting End MarketsCommercial & Industrial

Energy – Accelerating Results in New, Retrofit & RenovationHealthcare & Education Remain AttractiveInstitutional – Government & Public Buildings ARRA Funding

ResidentialHALO #1 Recessed BrandPackaging, Merchandising Solutions & Energy Star NPI

Roadway / HighwayBroadest LED Outdoor Offering Utility Rebate Program Expansion

Broad Market Exposure, Reaching Attractive Long-Term Markets

Broad Market Exposure, Reaching Attractive Long-Term Markets

Roadway

ResidentialCommercial

Industrial

Roadway

ResidentialCommercial

Industrial

32

33

Lighting Key Economic Indicators

Challenging Market Conditions…With OpportunitiesChallenging Market Conditions…With Opportunities

Near-Term Trend Long-Term Trend

Construction Starts

Residential

Commercial Construction

Industrial

Recovery Act / Stimulus (ARRA)

Segment

*Internal Estimates

1. Operational ExcellenceDriving Productivity & Continuous Improvement

2. Energy Efficiency Leadership

3. Innovation & TechnologyControlsLED

Business Priorities

Energy & Innovation

Executing On Fundamentals & Generating ResultsExecuting On Fundamentals & Generating Results34

Lean

Continuous Improvement …

Continuing To Drive Competitiveness And Generate FCFContinuing To Drive Competitiveness And Generate FCF

Realized Benefits

Standard Work

Value Streams

Visual Management

Engagement & Accountability

Productivity Gains – $32M Benefit

Working Capital Improvements – 230bps

Continue to Generate Cash Flow in Excess of Earnings

Service Enhancements

Emergency Exit Signage (3 Product Families)

Above the Skin• Red & Green Capability in One Unit… an Industry First!• Added Patented Technology – EZ KeyTM External Battery Disconnect• Lower Energy Usage & Industry-Leading Battery Recharge TimeBelow the Skin

• Common Components Across All Three Families• Enabled Discontinuation of Three Product Families

Emergency Exit Signage (3 Product Families)

Above the Skin• Red & Green Capability in One Unit… an Industry First!• Added Patented Technology – EZ KeyTM External Battery Disconnect• Lower Energy Usage & Industry-Leading Battery Recharge TimeBelow the Skin

• Common Components Across All Three Families• Enabled Discontinuation of Three Product Families

Realized Benefits• Differentiated Product• Component Inventory Reduction• 85% SKU Reduction• Sales Increase • Margin Expansion

Delivering Customer Facing “Above the Skin” Benefits & Manufacturing “Below the Skin” Opportunities

…Complexity Management

35

Business Priorities

1. Operational ExcellenceDriving Productivity & Continuous Improvement

2. Energy Efficiency Leadership

3. Innovation & TechnologyControlsLED

Energy & Innovation

Executing On Fundamentals & Generating ResultsExecuting On Fundamentals & Generating Results36

2006 2007 2008 2009

Energy EfficiencyInefficient Lighting Systems are Common… …Energy Codes Expanding

…Cooper Delivering Solutions & Results

50%+ CAGR Retrofit / Renovation

Source: DOE

CALIFORNIA PER CAPITA ELECTRICITY USAGEkW/h per person

Regulatory Efforts Continue to Address Projected Demands…

Energy Generates Results In All Economic CyclesEnergy Generates Results In All Economic Cycles

AHJ

1960

-

1980

-

1990

-

2000

-

1970

-

~$200M

37

Energy Strategy

Leveraging Products & Channel Position For ResultsLeveraging Products & Channel Position For Results

End Users Contractors & ESCOs Distribution SpecifiersFocused Channel

Efforts

Results

• $400K in Annual Energy Savings

• 40% Energy Savings Per Sq/Ft

• Title 24 Compliant• 8 Month Payback

Sears Warehouse

Linear / Highbay Svc/ProgramsLighting Control

Product Breadth

Control Systems

Recessed / LEDRetrofit Products

Occupancy Sensors

Goldman Sachs• 43 Story LEED Gold

Certified • Balancing Environmental

Responsibility, Resource Efficiency, & Occupant Comfort.

• 28% More Energy Efficient Than Code - Compliant Building

38

Business Priorities

1. Operational ExcellenceDriving Productivity & Continuous Improvement

2. Energy Efficiency Leadership

3. Innovation & TechnologyControlsLED

Energy & Innovation

Executing On Fundamentals & Generating ResultsExecuting On Fundamentals & Generating Results39

Controls Platform

High Performance Architectural

Performance TheatricalEnergy Management

Common Theme For Product Platforms: Strong Specification Position & Unique Technology Component

Common Theme For Product Platforms: Strong Specification Position & Unique Technology Component 40

Launched Greengate Brand Global Product DevelopmentIncorporated Integral MeteringEnergy Savings Solutions

Launched “iLumin” Brand in USDimming, AV Integration, BMS1st with Integral Metering in Dimming PlatformScene Setting Solutions

Launched “Zero88” Brand in US “Value” Theatrical TechnologyEntertainment Performance Product SolutionsGlobal Platform

Mar

ket

Coo

per A

ctio

ns

$750M, 10%+ CAGRCooper – 2x Market

$300M, 5%+ CAGRCooper – 3x Market

$300M, 5%+ CAGRCooper - 3x Market

41

Controls PositioningCooper Controls Overview:

Breadth of Offering

Acquisitions Provide Platform For Growth: Organic Innovation & Expanded Solutions To The Existing Channel

Acquisitions Provide Platform For Growth: Organic Innovation & Expanded Solutions To The Existing Channel

Investments/ Acquisitions

Organic Innovation

Global Specification

Project Successes

Energy Management

Novitas (2006)

PCI Lighting Controls (2007)

Architectural / Performance Theatrical

Polaron: (2007) iLight/zero88

EDI (2009)

New Product Introductions

Energy-Focused Applications

Metering / Consumption Awareness

Unique Technology & IP

Specification Driven Products

Relevant Product Solutions in ALL Categories

Energy Management Sensors

Low-Voltage Relay Panels

LED Controllers

Architectural Dimming Cabinet

Theatrical Desks/ Dimmers

Local People, Local Products

UL & CE Compliant Products

“On the Ground”Sales/Support Staff on 4 Continents

Specifier & End-User Focused

End-to-End Controls Solutions

Global Project Specifications

Atlantis, Dubai

1 Hyde Park, UK

Marriott Gateway, USA

ThurgoodMarshall Federal Courthouse, NYC

Nemours Children's Hospital, USA

$280M

New Construction

Retrofit

Commercial Occupancy Sensor Applications

Lighting Controls

Application

Value

Base (SF)

Market Opportunity

@ 5% Penetration

…vs. No Automatic Controls:High Acceptance Within Segments25-50% Lighting Energy Savings < 2 yr Payback

Cooper Response – Industry Leading Breadth & Performance

Significant Growth Potential For CooperSignificant Growth Potential For Cooper

Other28%

Healthcare 4%

Office17%

Education14%

Industrial14%

Hospitality7%

Retail16%

42

Business Priorities

1. Operational ExcellenceDriving Productivity & Continuous Improvement

2. Energy Efficiency Leadership

3. Innovation & TechnologyControlsLED

Energy & Innovation

Executing On Fundamentals & Generating ResultsExecuting On Fundamentals & Generating Results43

LED Dynamics

Technology Advancing – Focus Shifting To Application (Luminaires)Technology Advancing – Focus Shifting To Application (Luminaires)

Cooper Delivering Best-in-Class Capabilities…

CommercializationCommercializationTechnologyTechnology ProductsProducts Supply ChainSupply Chain

0

20

40

60

80

100

120

140

160

2007 2012 2017$0.0$2.0$4.0$6.0$8.0$10.0$12.0$14.0$16.0$18.0$20.0

White LED Components

Effic

acy

(lum

ens/

wat

t)

Cost ($/kilolum

en)

Efficiency

Cost

0

20

40

60

80

100

120

140

160

2007 2012 2017$0.0$2.0$4.0$6.0$8.0$10.0$12.0$14.0$16.0$18.0$20.0

White LED Components

Effic

acy

(lum

ens/

wat

t)

Cost ($/kilolum

en)

Efficiency

Cost

2009 2012 Est. 2015 Est.

Inc / Hal

CFLHID

Fixture Market by Source

Fluor.

LED 25%

LED 2%

All Other 88%

LED 12%

All Other 75%

2009 2012 Est. 2015 Est.

Inc / Hal

CFLHID

Fixture Market by Source

Fluor.

LED 25%

LED 2%

All Other 88%

LED 12%

All Other 75%

44

LED Innovation Center

World Class LED Capability & CapacityWorld Class LED Capability & Capacity

Advanced Research & Development

LED, Advanced Lighting TechnologiesProduct Design – Optics, Thermals, Electronics, Mechanical, Ind. DesignPerformance & Reliability TestingPrototype and Pilot ManufacturingBuild Robust IP Pipeline

45

Track & Recessed LED

Application

Value

US InstalledBase (Units)

Market Opportunity@ 5% LED Penetration

Cooper Response –Industry Leading Brands & Performance

Track & Recessed Downlighting

…vs Incandescent:Up to 85% Less Energy Eliminates Up to 40 Replacements

Significant Growth Potential For CooperSignificant Growth Potential For Cooper

4”/ 6”, 600/900/1200 Lumen, Housings, Trims

18

8

12

25

14

14

Watts

Up to 72%1200 Series

Up to 72%4” Series

Up to 81%900 Series

Up to 85%Small Track

Medium Track

600 Series

Halo LED

Up to 80%

Up to 75%

Energy Savings

New Construction

Retrofit

$550M

INC83%

CFL17%

869 Million Units

46

…vs Metal Halide:30-60% Less Energy Eliminates >7 Replacements

Street & Area Lighting

Outdoor LED

Application

Value

US InstalledBase (Units)

Market Opportunity@ 5% LED Penetration

Cooper Response – Industry Leading Breadth & Performance

Significant Growth Potential For CooperSignificant Growth Potential For Cooper

$1.6BNew Construction

Retrofit

47

Metal Halide27%

HPS39%

137 Million Units

MV 13%INC 10%

FLU 6%

North American Commercialization

Accelerating Adoption With Commercialization Tools & EducationAccelerating Adoption With Commercialization Tools & Education

Marketing Support & Tools Customer Events / Training

60 Day Blitz20 Major MarketsAgency Training2500+ Influencers & Customers

Literature, SamplesWeb & e-ToolsMarketing ProgramsEnergy Rebates, Calculators

48

Well Positioned To Outperform The Market In 2010 & Beyond

Well Positioned To Outperform The Market In 2010 & Beyond

Cooper Lighting Summary

Challenging Short-term Market Conditions…. Significant Long-term Opportunities

Driving Productivity & Continuous Improvement

Energy & Sustainability – Delivering Energy Efficient Lighting Solutions & Results

Innovation – Leadership Platforms with Technology & Specification Capability

49

Cooper Power SystemsMike Stoessl, Group President

Cooper Industries2010 Outlook Meeting

51

Cooper Power Systems Portfolio

North American Industry Leading ProductsNorth American Industry Leading Products

Reliability & Power Quality

#1 in Overhead Switchgear#1 in Capacitors#1 in Voltage Regulators

Connection& Components

#1 in HV Fuses#2 in Surge Arresters#2 Molded Rubber Accessories

Transformers #2 Distribution Transformers

Automation &CommunicationSolutions

#1 Demand Response Systems#2 AMI PLC Provider#1 Planning Software#1 Smart Sensors

5252

Power Systems Business Overview

Sales Growth

Global Growth With Strong Presence And BrandGlobal Growth With Strong Presence And Brand

Market Size: ~$45 Billion(Global T&D)

Revenues: ~$1.1 Billion

Geographic Mix: ~32% Outside U.S.

Customer Profile

Leading Brands

High Single-Digit CAGR

2003 2004 2005 2006 2007 2008 2009

Ref: ’03 -’08 CAGR of ~15%

5353

Power Systems End-Market Evolution

53Significant Exposure To Attractive, High Growth MarketsSignificant Exposure To Attractive, High Growth Markets

2004 2009US Reliability & Automation

– Power Quality, Efficiency & Productivity Solutions

US Connection & Restoration– Power Delivery Solutions For

Utilities

Commercial & Industrial– Wind & Solar, Wastewater,

Oil & Gas, Military, Hospitals

International– Large Presence In Asia, Latin

America, Australia

Note - 2004 figures do not equal 100% due to rounding

545454

Power Systems Economic Indicators

Utility Revenues

Non-Residential construction

Housing starts

Inventory Rebuild

Infrastructure/stimulus

International

Short-Term Leading IndicatorsElectricity DemandGlobal Economic DevelopmentDemand For ReliabilityAging Grid, RetirementsSmartGrid InvestmentsLegislative Trends

Long-Term Leading IndicatorsTrendTrend

Mill

ions

of u

nits

5555

Power Systems Business Priorities

Leverage 2009 Operational Improvements– Lean Culture Driving Delivery, Quality, Inventory To Best-in-class– Value Engineering Well Balanced With New Product Development– Leadtime Improvements Allowing Sales Wins

Automation and Energy Efficiency– Positioning Over Last Five Years Paying Off

Globalization– Further Expansion In Middle East, South America, Asia– +50% Increase In Asia-for-Asia New Product Releases

Increased Focus On Targeted Industrial Markets – Rapidly Expanding Renewable Energy Sector, Data Centers– “Consultant to the Consultant” Application Expertise

Well Positioned For Years Of GrowthWell Positioned For Years Of Growth

5656

END to END Efficiency

56

Growth StrategiesCPS Has Solutions That Enhance System Efficiencies:Power Quality & Optimization

Low-loss Distribution Equipment

Green Circuits Network

Improved Utilization & Automation

“Energy Efficiency And Demand Response Will Continue To Be The ‘First Fuel’ Choice For Utilities” Rick Nicholson, IDC Energy Insights

“Energy Efficiency And Demand Response Will Continue To Be The ‘First Fuel’ Choice For Utilities” Rick Nicholson, IDC Energy Insights

57

Smart Grid

57

Trend Data CPS Smart Grid Solutions

Source: Pike Research’s report, “Smart Grid Technologies” Dec 2009

Smart Grid Revenue (World Markets)

Transmission

Distribution Automation

Substation Automation

AMI

PHEV

CPS Well Positioned To Benefit From Automation Drivers2005 2006 2007 2008 2009

Significant G

rowth

AMIDemand Response

Substation AutomationDistribution Automation

Enterprise SoftwarePlanning, Modeling & Simulation

~$200M

58

Stimulus Timing

58

Smart Grid Stimulus

Allocation By Cooper Solutions

~$4B Smart Grid Stimulus Allocation

Contracting Issues Slowing Stimulus Funding

Government Contracting SlowInitial RFP Processes, Vendor Negotiations UnderwayOrder Flow Pending

Oct ‘09

Gov’t Contracting

RFP Processes

Vendor Contracting

Sales

Orders

Today

AMI$2,757 M

Substation Automation

$203 M

Other $284 M

Distribution Automation

$642M

Demand Response

$161 M

59

Renewables

59

Trend Data Summary

Growth Strategies

Renewable Portfolio Standards in 24 States

Broad ReachApplication Expertise For Complex Systems

Tailored TransformersSoftware Modeling ProductsCollection Systems

Current DriversRenewable Portfolio Standards Tax Incentives Increased Cost Competitiveness (Wind)

Long-term DriversFossil Fuel Price VolatilityIncreased Cost Competitiveness (Wind/Solar)Clean Energy ReformFederal Renewable Energy Standards

Well Positioned For Significant Renewable Sector Growth

02,0004,0006,0008,000

10,00012,00014,00016,00018,00020,000

2006 2007 2008 2009 2010 2011 20120

500

1,000

1,500

2,000

2,500

3,000

US Annual Utility Scale Capacity Additions (MW)

20% CAGR

Wind - Bars Solar - Line

97% C

AGR

60

Power Systems Globalization

Asia / LA Capacity ExpansionInnovation Pipeline ImprovingGlobal Technical TalentAmorphous TransformersExporting China Switchgear ProductsCyme Systems Analysis Capability

Power Systems Well Positioned

Drivers

Seven Factories Outside The U.S…..Local Products For Local Markets

Seven Factories Outside The U.S…..Local Products For Local Markets

Global Electricity Demand Increasing (China & India)World-wide Infrastructure Investment In Electrical GridGlobal Climate Change Response

Non-OECD countries account for 93% of the increase in global demand between 2007 – 2030, driven largely by China & India

World Energy Consumption

61Positioned For Years Of Strong RecoveryPositioned For Years Of Strong Recovery

Power Systems SummaryWorst Behind Us Investments In Last Cycle Paying Off – Operational Performance– Automation And Efficiency– Targeted Industrial Segments– Globalization

Positive Long-Term Trends, Enhanced by Global Stimulus Programs– Electricity Demand– Global Economic Development– Demand For Reliability– Aging Grid– SmartGrid Investments– Legislative Trends Towards Reliable, Efficient, Domestic

Power Sources

Broad Product Portfolio To Reliably Distribute Power To Customers Around The Globe

Cooper Industries2010 Outlook Meeting

Cooper Safety & GlobalizationGrant Gawronski

Emergency Lighting

Notification & Fire Solutions

Lighting

Cable Glands & Commercial Products

Security

Broad Offering Capitalizing On Global Infrastructure Build

Cooper Safety Product Portfolio• Technical Central Battery &

Self Contained Solutions• Market Leader – Europe &

Middle East

• Full Line UL & EN Fire Products

• Comprehensive Mass Notification Solution

• Leading LED Package• Strong UK Commercial

/Industrial Exposure

• Heavy Industrial Base For Cable Glands

• Commercial Products For Comm/Resi Construction

• UK Based Intruder Business• Great Product Technology

63

Cooper Safety Business Overview

2003 2009

Sales Growth

Strong Products…Excellent Customer FranchiseStrong Products…Excellent Customer Franchise

Market Size (served): ~$8 Billion

Revenues: ~$500 Million

Geographic Mix: ~90% Outside U.S.

Customer Profile

Leading Brands

Mid Single-Digit CAGR

WheelockRef: ’03 -’08 CAGR of ~14%

64

Cooper Safety End Markets

XXX

XXX

XXXXXX

Commercial• #1 Position In Emergency Lighting

in Europe and Middle East • Strong UK Lighting Business • Huge Project Pipeline in Mid East

+ UK Olympic Opportunity

Industrial• MEDC Strong In Industrial

Signaling• Comprehensive Industrial

Notification• Gland Business Growing . . .

Residential• Limited Exposure Through

Security and Commercial Products

Broad Market Exposure Across EMEABroad Market Exposure Across EMEA

Industrial

Commercial

Resi

66%15%

6%OEM 8%

Military 5%

65

Near-Term Trend Long-Term Trend

Industrial Production

Non-Resi Construction

Energy Standards/Stimulus

Safety/Notification

London Olympics

Segment

Cooper Safety Key Economic Indicators

GDP Recovering….Construction Levels Flatten OutGDP Recovering….Construction Levels Flatten Out

Key Eurozone GDP Projections Eurozone Non-Resi Construction

2008 to 2010….Steep Decline

2010 Flattens Out With London Olympics, Energy Efficiency Trends

Safety Well Positioned To Capitalize On Growth Trends

66

Source: IMF

Cooper Safety Business Priorities

Geographic Expansion

Technology & Alternative Energy Growth

Notification & Safety Penetration

Leverage Cooper Portfolio Across Europe- Crouse-Hinds, B-Line, Bussmann

Drive >5% Organic Long-Term Growth RateDrive >5% Organic Long-Term Growth Rate

67

Technology & Alternative Energy

Smart Systems- Networked Emergency Lighting- Wireless Addressable Fire Systems

Technical Customer Solutions- Custom LED Applications- Military/Institutional Notification

Core Product Efficiency Upgrades- Legislated Energy Savings- Long-Life Applications

Technology And Innovation Accelerate Core GrowthTechnology And Innovation Accelerate Core Growth 68

69

Notification Strategy OverviewTe

chno

logy

In

terf

ace (Electronic)(Electronic)

Access ControlAccess Control

VideoVideoSurveillanceSurveillance

Mar

ket P

artic

ipan

tExtend ReachFire Devices

MEDC

Hazardous

WAVESRSAN

Mass Notification Systems

Wheelock (UL)

Fulleon (EN)Em

erge

ncy

Com

mun

icat

ions

Sys

tem

sEm

erge

ncy

Com

mun

icat

ions

Sys

tem

s

Technology Solutions Driving GrowthTechnology Solutions Driving Growth

Capture Market Entitlement

OEM Provider For Fire Industry

Expand Range And AvailableMarket

Extend Reach Globally

Standardize NotificationTechnology

Leveraging The European Portfolio

Partnering For Growth With Global Electrical DistributorsPartnering For Growth With Global Electrical Distributors

Majority Share Held by Global Players

Breadth of Portfolio A Key For Partnership

Local Presence Across The Continent

European Electrical Distribution

Broad Line of EU/Global Products

Significant European Presence

Global Partnerships . . . Europe/US/Asia Pacific

Cooper Portfolio

Dedicated Industrial Sales Team Driving Divisional Cross Selling

Increased Selling Opportunities

Application And Technical Support Through Local Presence

Combined Product Offering

Cooper Safety

Cooper Crouse-Hinds

Cooper B-Line

Cooper Bussmann

70

Cooper Safety Summary

Safety Is A Leading European Electrical Products Platform

Technology and Alternative Energy Products Gaining Momentum

- Emergency Lighting, Mass Notification, LED Solutions

Growing In Emerging Markets…Established Player Providing A Broad Electrical Product Offering

Big European Presence…Able to Effectively Integrate Acquisitions With Synergy Upside

Well Positioned To Continue To Outperform The Market In 2010 And Beyond

Well Positioned To Continue To Outperform The Market In 2010 And Beyond

71

Cooper Industries2010 Outlook Meeting

Cooper GlobalizationGrant Gawronski

International Investments

+11%+5%

+16%

+22%

NX Mexico

NX Korea

MEDCMEDC

Save FuseSave Fuse

MX Mfg Plan

CC Europe

NX Australia

Capacitor JVCapacitor JV

China HQ

Xian FuseXian Fuse

CBE Europe

NX SE Asia

NX Russia

PolaronPolaron

NX Japan

NX India

Despite 2009 Downturn, Continued Investments To Support Global Growth Opportunity

Despite 2009 Downturn, Continued Investments To Support Global Growth Opportunity

NatureNature ClarityClarity

YOY Growth Rate

HyundaiNX China

NX Mid East N. AfricaN. Africa

CybectecCybectec

Saudi Mfg

MTL

+17%

2003 200620052004 2007 2008

Xian Mfg

Digital China

WD China

Romania Mfg

2009

-20%-16% Core

Cyme

73

2009 – Manufacturing In Saudi Arabia

74

2009 – China Bussmann Xian

7575

2009 – China CWD Dongguan

76

MANUFACTURING SALES

Manufacturing:AustraliaBrazilCanadaChinaColombiaDenmarkFranceGermanyGreeceHungaryIndiaItalyKoreaMexicoNetherlandsRomaniaSaudi ArabiaSpainSwitzerlandSwedenTaiwanUnited KingdomUnited States

Global Footprint

Manufacture in 23 Countries – Sell in ~100Manufacture in 23 Countries – Sell in ~10077

2004 – 2009 Summary

Significant Investments In Place To Grow International Revenues

Divisions Have Been Successful – Doubling Revenue In 5 Years

Our Foundation Is Solid . . . Continue Strategic Investments in 2010 and Beyond

Growth Model Transferrable To Other Geographies

Extremely Well Positioned To Restore Growth

Track Record Of Growth….Well PositionedFor Global Economic Recovery In 2010

Track Record Of Growth….Well PositionedFor Global Economic Recovery In 2010

78

2010 International Focus

39% Of Revenues Now Generated Outside The US – Big Targets Remain

39% Of Revenues Now Generated Outside The US – Big Targets Remain

2X

2X 2X

79

Global Growth Strategy

Local Products For Local Markets

Leverage Global Cooper Presence With Key End Users

Strengthen Operational And Commercial Footprint In South America

Global Portfolio And Expanding Global Presence Driving Growth

Global Portfolio And Expanding Global Presence Driving Growth

80

Asia – Local Products For Local Markets

2004 2009

Nearly Tripled The Business

Strong Power Systems Asia Foundation…. Positioned For Sustained Growth

Strong Power Systems Asia Foundation…. Positioned For Sustained Growth

Cooper Power Systems Asia Revenue

81

XINFA

SwitchgearMRP

ComponentsNatureVCB

Capacitor

NATURE

CSPC

Localized Products• Capacitors• Reclosers• Controls• IEC VCB• RMU• IEC MRP• ANSI MRP• Cutout • Components

PDSE

RTEFE

Strong Local Product Platform Drives Asia-For-Asia Product Offering

Strong Local Product Platform Drives Asia-For-Asia Product Offering

Asia Vitality

82

Canada38 EPCs

USA54 EPC’s

South America42 EPCs

UK14 EPCs

Middle East15 EPC’s

Western Europe30 EPCs

India12 EPCs

South Korea14 EPCs

Japan15 EPCs

Aust / SEA12 EPCs

Global Customer Opportunity

EPC: Global Engineering, Procurement and Construction Company

Cooper Focus: Oil & Gas, Industrial Processes, Mining & Power Projects

Billions Of Global Project Opportunity 83

CSACanadianCertification

ATEXCertification forthe European Union

ULCertification forUnited States

NECNorthAmericanCertification

CEPELBrazilian Certification

IEC and IECExInternational Certification

GostRussianCertification

GBCertification for China

Global Oil & Gas Product Strategy

Products For All Continents

Cooper’s Broad Offering Of Certified Global Products Critical To Continued Success 84

Expanding Global Presence

Established Cooper Relationships Create New Opportunities

Established Cooper Relationships Create New Opportunities

World-wide Relationships Span The Project Cycle

Leverage RelationshipAnd Provide

Solutions

Mid East Contractor Base Is Common For High Profile

Commercial & Utility

85

B-Line Middle East/North Africa Growth

2010 Target

B-Line Capitalizing On Global Cooper PresenceB-Line Capitalizing On Global Cooper Presence

Exponential Growth

~$100M Target

+ +

GCC Iraq North Africa

Regional Expansion

86

Cooper In Latin/South America

~$350M Annual Revenues

Solid Business For Power Systems, Crouse Hinds….Driven by Local Presence

Resources = Results - Wiring Devices – Venezuela- Crouse-Hinds – Columbia

IECNEMANEMA 40%IEC 60%

Increased Local Presence And Products Position Us For Strong Growth

Increased Local Presence And Products Position Us For Strong Growth 87

3 Pronged Approach To Growth

Latin/South America Growth Strategy

Colombia As 2nd S.A. “Base Of Operations” Pursue

Acquisition To Expand

Penetration In Brazil/S.A.

Add Sales Presence – Local

Feet On The Street

BRAZIL

VEN

PERU

BOLIVIA

PAR

URU

SUR

VEN

COLEC

BRA

CHI

VENCOL

HONGUA

CR

Recent Crouse-HindsAcquisition Excellent Presence WithDistribution Power Systems Presence

Significant ElectricalProduct OpportunitiesLeverage Existing Cooper Infrastructure

88

2010

Asia

Mid East

L. America

GPT

Driving Strong, Sustainable International Growth

Globalization Summary

+5%

+16%

+22%

MEDCMEDC

Save FuseSave Fuse

MX Mfg Plan

CC Europe

NX Australia

Capacitor JVCapacitor JV

China HQ

Xian FuseXian Fuse

CBE Europe

NX SE Asia

NX Russia

PolaronPolaron

NX Japan

NX India

NatureNature ClarityClarity

Hyundai

NX Mid East N. AfricaN. Africa

CybectecCybectec

Saudi Mfg

MTL

+17%

200620052004 2007 2008

Xian Mfg

Digital China

WD China

Romania Mfg

2009

-20%-16% Core

Cyme

89

Cooper B-LineKevin Kissling, President

Cooper Industries2010 Outlook Meeting

91

Cooper B-Line Product Portfolio

Cable Tray

Bolted Framing

Pipe Hangers

Electrical Enclosures

Spring SteelFasteners

MeterSockets

Safety Grating

Electronic Enclosures

Rack &Runway

Broad Portfolio Of Specified Products For Engineered Facility Subsystems

Broad Portfolio Of Specified Products For Engineered Facility Subsystems

Supp

ort

Syst

ems

(~80

%)

Encl

osur

es

(~20

%)

Support Structure For Electrical, Mechanical And Data Transmission Lines

Cable Management

People/Structural Support

Physical Asset Protection For Electrical And Data Systems

Cable Management

#1 in North America

91

Cooper B-Line Business Overview

2003 2009

Sales Growth

Solid Growth, Large Served Market…Big Opportunity OverseasSolid Growth, Large Served Market…Big Opportunity Overseas

Market Size: ~$3 Billion (NA)~$19 Billion (WW)

Revenues: ~$350 Million

Geographic Mix: ~90% U.S.

Customer Profile

Leading Brands

High Single-Digit CAGR B-LineFlextrayGripStrutRuff-InAccessPromise

~70% Electrical Distribution

Ref: ’03 -’08 CAGR of ~18%

92

Diverse End-Market Exposure Provides Growth Opportunities Through The CycleDiverse End-Market Exposure Provides

Growth Opportunities Through The Cycle

B-Line End Markets

Other

Industrial

Commercial

IndustrialManufacturingPetro ChemPharmaceuticalsFood & Beverage

CommercialGovernmentHealthcareEducationOfficeHospitality

OtherUtilityData CentersTelecommOEM

Oil & GasMiningPower GenerationAlternatives

93

Global Fixed Investment Globalization, Middle East

E&P Investment EPC relationships, Drive Spec

Non-Resi Construction/ABI Lowest Total Cost Innovation

Stimulus (Gov’t Bldg) ARRA Compliant, Vertical Focus

Alternative Energy Solar Racking, Nuclear

B-Line Economic Drivers

Commercial Construction Challenging In Short-Term….Favorable Long-Term Dynamics

Commercial Construction Challenging In Short-Term….Favorable Long-Term Dynamics

LT TrendST Trend Opportunities

$0.0

$2.0

$4.0

$6.0

$8.0

$10.0

$12.0

$14.0

2008 2009 2010 2011 2012 2013

Trillions World Fixed Investment*

’09 –’13 CAGR ~ 6%

30.0

35.0

40.0

45.0

50.0

55.0

60.0

65.0

70.0

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Quarterly ABI

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

Sales Growth

ABI QuarterlyYoY Growth (3Q Lag)

AIA Billing Index*

Dot-Com

AcquisitionO&G

*Source: IHS Global Insight, AIA

94

Long-Term Global Trends

Global Infrastructure Safety / Protection /Mass Notification

Energy Demand / Utility Grid

Conservation / “Green” /Energy Efficiency & Reliability

Cooper Uniquely Positioned To Penetrate Key Global TrendsCooper Uniquely Positioned To Penetrate Key Global Trends95

96

B-Line Business Priorities

Continue Relentless Pursuit Of Specification, Innovation And Service Leadership

Expand Pursuit To Faster Growing Global And Emerging Vertical Markets…Leveraging The Cooper Portfolio And Localizing Manufacturing

Global Oil And GasAlternative Energy – Solar And Nuclear

Continue To Provide Labor Saving Products And Superior Service To Support Core North American Business Growth

Win in Attractive Verticals Through Innovation, Driving Specification And Superior Service

Win in Attractive Verticals Through Innovation, Driving Specification And Superior Service

Global Infrastructure/Oil & Gas

Production facilities

Offshore PlatformsDrilling Rigs LNG Plants

UpstreamProduction facilities

Offshore PlatformsDrilling Rigs LNG Plants

Upstream

Transportation

PipelinesTerminals

MidstreamTransportation

PipelinesTerminals

Midstream

Refining

FuelsLubricantsChemicals

DownstreamRefining

FuelsLubricantsChemicals

Downstream

Cable Tray Portfolio

Significant Global Opportunities

Global O&G Investment By Year/Region

Building Out Global Specification Team

Driving Cooper B-Line’s Global Expansion…. Leveraging Crouse-Hinds And Safety Portfolios

Driving Cooper B-Line’s Global Expansion…. Leveraging Crouse-Hinds And Safety Portfolios

$0$100$200$300$400$500$600$700

2010 2011 2012 2013

North America Europe (Inc. Russia)Middle East Asia Pacific

*Source: IIR, EIC and B-Line Estimates

$Bils

Saudi Arabia And GCCCanada – Tar SandsKorean Contractors And EPCsAustralian LNG Investments

97

98

Saudi Arabia – Middle East Growth

Positioned To Win In A Growing RegionPositioned To Win In A Growing Region

Middle East Operations:Wholly-Owned Cooper Entity –Operational in ~12 MonthsExceed Saudi Content Within Work Force

– Recognized By End UsersLeveraged Cooper Ops Excellence Platform

– ARAMCO Vendor Approval In 4 MonthsStrong Engagement In Oil & Gas And Commercial Mega Projects Throughout The Region

98

Alternative Energy/SolarPV Specific Racking And Cable Management Product Solutions

Roof Top

Cable Mgmt

Electrical Distribution Channel Strength To Serve The Market

Emerging Market, Utilizing Adjacent Products…Migrating Towards Electrical Distribution

Emerging Market, Utilizing Adjacent Products…Migrating Towards Electrical Distribution

Ground Mount

Cumulative Solar Megawatt Growth*

0500

1,0001,5002,0002,5003,000

2010 2011 2012 2013

Roof Mount (Non Resi)

Ground Mount

MWs

*Source: SEPA, NREL, B-Line Estimates 99

Driving Loyalty Through Superior Service Distributors ContractorsSpecifiers/Engineers

Industry Leading Service Guarantee Program

– Across All Channel of Distribution

Customer Benefits:– Lower Inventory – Service to Their

Customers

Providing Lowest Total Installed Cost Throughout The Value Chain

Providing Lowest Total Installed Cost Throughout The Value Chain

Leading Design Tools and Support

– Sales Engineering– Design Tools (Ex:

BIM)

Customer Benefits:– Reduced Design

Time– Optimized Design for

Material Cost

Labor Savings Product Solutions

– Innovative Customer Driven Solutions

– Lowest Installed Cost

Customer Benefits:– Speed of Installation– Lower Labor Cost

100

Driving To Double The Business Again Through Globalization And InnovationDriving To Double The Business Again Through Globalization And Innovation

Cooper B-Line Summary

Broadly Specified With Leading Position And Brand Preference

Reputation For Customer Focus And Service

Globalizing The Business To Participate In Faster Growing Markets

Developing Innovative New Products To Get In Front Of Emerging Verticals

101

Cooper Industries2010 Outlook Meeting

Cooper Growth StrategyTom O’Grady, Sr. VP Business Development

Large, Global,Healthy & Diverse

End-Markets

End-Market Growth

Established Brands,Leading Market

Positions…Cooper Connection

Customer Loyalty

Introduce New Products With Focus On

Technology Solutions

Innovation

International Opportunity Offers Substantial Upside

Globalization

Disciplined Strategy…Build Key Platforms, Increase Technology,

Accelerate Globalization

Acquisitions

Sustainable Growth StrategyMarket Growth Initiatives Acquisitions

3% 2% 5%+ +

Growth Through All Economic CyclesGrowth Through All Economic Cycles103

Innovation And M&A

Innovation Drives Profitable Core Growth– Access To / Leverages New Technologies Across Businesses

– Creates Value-Added Solutions

– Extends Technical Leadership

– Ability To Participate In High-Growth Market Opportunities

M&A Facilitates Growth And New Technologies– Builds Platforms

– Accelerates Globalization

– Access To New Markets

Balance Between Core Growth Initiatives And Acquisitions Positions Cooper For Sustainable Long-Term Growth

Balance Between Core Growth Initiatives And Acquisitions Positions Cooper For Sustainable Long-Term Growth

104

InnovationTom O’Grady, Sr. VP Business Development

Cooper Industries2010 Outlook Meeting

7%

25%

15%

19%

2003 2008 2009 RevisedTarget

New Product % of Sales

Innovation - Product Vitality

Cooper Ranked In Top 10 By The Patent Board For Strength Of Patent Portfolio Measured By Technology Strength

Cooper Ranked In Top 10 By The Patent Board For Strength Of Patent Portfolio Measured By Technology Strength

106

Value-Added Solutions

LED Industrial Wireless UtilityAutomation

Value-Added Solutions Driven By Acquisitions And Internal Development

Value-Added Solutions Driven By Acquisitions And Internal Development

FRO

MTO

107

LED Outdoor

Lighting

Wireless Tool Tether

Tools

LED Down-Light

Lighting & Safety

Industrial WiFi

Bussmann, Crouse & Power Sys.

EVLED

Crouse-Hinds

Transportation Radio Control

Bussmann

LED Vapor Tight Utility Light

Crouse-Hinds

Wireless Sensor Networks

Bussmann & Crouse-Hinds

LED Healthcare

Lighting

Wireless Wide –Area Notification

Safety

LED Exit Sign

Lighting, Safety & Crouse-Hinds

LED

Outage Advisor

Power Systems

RF / Wireless

Extend Technical Leadership

Higher Specification – Higher Technology –Greater Global Growth Opportunities

Higher Specification – Higher Technology –Greater Global Growth Opportunities

108

Solar

Innovation Initiatives Across Divisions Have Positioned Cooper To Grow In Key High Growth End Markets

Innovation Initiatives Across Divisions Have Positioned Cooper To Grow In Key High Growth End Markets

High-Growth Markets

Transformer

Combiner

Solar Rack AC/DC Disconnect

String Combiner

Array Combiner

109

Wind

Significant Opportunity Across Cooper Businesses To Drive Growth

Significant Opportunity Across Cooper Businesses To Drive Growth

3

2

1

2

3

Nacelle

Tower

Transformer

1

High-Growth Markets

110

M&ATom O’Grady, Sr. VP Business Development

Cooper Industries2010 Outlook Meeting

Acquisition Core Strategy

Strengthen The “Core”

Specification/Technology Driven Businesses

Enhance Global Footprint

Strong Balance Sheet

Talented Management

Platforms Technology

Globalization

Acquisition Focus Areas

Executing A Consistent And Disciplined StrategyExecuting A Consistent And Disciplined Strategy

112

Bussmann Lighting

Wiring DevicesSafety

Electrical Electronic

Transportation

Consumer

Commercial &

Industrial

Architectural

B-Line

Support Products

Enclosures

Wire Management

Crouse-Hinds

Explosion-Proof

InterconnectCommercialProducts

Airport Lighting

ConsumerElectrical Distribution

Commercial Lighting

Fire & Mass Notification

Glands/

Boxes

Emergency Lighting

Power Systems

Platforms

Platforms For Organic And Acquired GrowthPlatforms For Organic And Acquired Growth

UtilityAutomation

Transformers

ReliabilityProducts

Line Installation &

Protection

Tools

Industrial Power Tools

Consumables

Hand Tools

Joining Tools Chain

Products

Assembly Systems

Instrumentation

113

BussmannTransportation

Power SystemsGlobal Products

Power SystemsUtility Automation

Crouse-Hinds Connectivity

Crouse-Hinds Instrumentation

Crouse-Hinds Industrial EX

LightingControls

Cooper SafetyFire/Mass Notif.

LightingLED

Cooper Architectural & Safety Lighting

BussmannElectronics

BussmannElectrical

Platform Priorities

Highest Impact, Largest Market Opportunities; Focus Primarily On Industrial / Utility

Highest Impact, Largest Market Opportunities; Focus Primarily On Industrial / Utility

114

GPS Personal Navigation

Capacitor

Capacitor Bank

Power InductorFlood LightCombo LightSwitchgear

Solutions

Olympic Swimming Centre

Chongqing GreenGarden Bridge

Applications

Accelerates Globalization

Global Infrastructure Investments Driving Growth In Key Local Markets

Global Infrastructure Investments Driving Growth In Key Local Markets

115

Local Presence Driving Long-Term Growth In Key Global Markets

Local Presence Driving Long-Term Growth In Key Global Markets

Bussmann

Access To Local Markets

Local Products

Local Sales & Engineering Teams

Accelerate Growth

International Acquisitions

Accelerates Globalization

116

Access To New Markets

Filtronic$2.2BJoining ToolsGS Metals$1.3BB-Line Support Sys.

HyundaiMTLPauluhnIluram

$1.5B CCH Industrial EX

WPIG&H

$6.0BSpecialty Connectors

Transtech$.3BAirport Lighting

Nature$18.0BCPS Global Standards

Save Fuse$3.3BBussmann Electronics

Xian$6.6BBussmann Electrical

Sure PowerOmnex

$2.9BBussmann Transportation

RSAIo LightingClarityIMS

$1.5BLEDMEDCWheelockMadahcomRoam Secure

$2.0BNotification

NovitasPolaronPCITranspower

$2.7BLighting Controls

CannonCybectecCyme

$1.9BUtility Automation

AcquisitionsMarket SizePlatformAcquisitionsMarket SizePlatform

Platforms Provide Access To $50B+ Of Higher Growth, More Profitable, Less Cyclical, More Global Markets

Platforms Provide Access To $50B+ Of Higher Growth, More Profitable, Less Cyclical, More Global Markets 117

2004 - 2010 M&A Activity

Screening> 1,100 Targets

Identified in Over 50 Countries

Diligence

Execution

90+ Deals Presented > $12B in Revenue

29Closed Deals

Summary

Proven Process Capability in M&A…Stepping Up Size And Scale

Proven Process Capability in M&A…Stepping Up Size And Scale

Closed 29 Deals Across all 8 Divisions

15 International Deals in 7 Countries

Executed on 11 Strategic Growth Platforms

Strengthened the Core

Specification/Technology Driven Businesses

Enhanced Our Global Footprint

118

Innovation And M&A Summary

Growth Is A Blend Of Internal Development And M&A– Access To $50B+ Higher Growth, More Profitable And

Less Cyclical Global Markets

Past 5 Years - Cooper Invested:– ~$500M In NPD– ~1B in M&A

Today - Nearly 20% Of Cooper Revenue Is From Products Introduced In The Past 3 Years

Cooper Is In The Top 10 For Patent Portfolio & Technology Compared To Our Global Industrial Peers

Cooper Is Leveraging Its Developed & Acquired Technology Across Divisions

New Products – New Customers – New Growth OpportunitiesNew Products – New Customers – New Growth Opportunities119

2009 Financial HighlightsTerry Klebe, SVP and CFO

Cooper Industries2010 Outlook Meeting

121

Macro-Economic Environment in 2009

Every Market And Geography Impacted Deeply By Great Recession of 2008/2009

Every Market And Geography Impacted Deeply By Great Recession of 2008/2009

Deepest Global Recession Since Great Depression… Worldwide Government Intervention/Stimulus To “Save” Economy

Weakening U.S. Dollar Throughout Year, Credit Markets Froze And Thawed - Lending Standards Changed Forever?

Global Industrial Markets Depressed, MRO And Early Cycle Products Start Recovery By Year-End

Housing Markets Slowly Crawling Back In Second Half

Utility Spending Weak For Entire Year On Reduced Electricity Consumption And Tightened Credit

Commercial Construction Activity Free FallCommodity Deflation

Cooper Team Response

Began Adjusting Businesses Before The Crash In November 2008

Implemented Contingency Plans Beginning In Q4 2008

Stepped Into The Economic Reality Early In 2009 And Rapidly Adjusted Businesses For 20%+ Revenue Decline

Stabilized The Businesses By End Of Third Quarter For New Market Reality And Positioned For Return To Growth

Continued To Provide Our Best Estimates For Quarterly And Annual Results

The Cooper Team Outperforms In Good And Bad Economic Times

The Cooper Team Outperforms In Good And Bad Economic Times

122

2009 EPS Guidance

CONTINUING EARNINGS PER SHARE(diluted)

$2.52

$2.45

$2.30 $2.30 $2.35

$2.60

$2.45$2.50

$2.80

$2.00

$2.20

$2.40

$2.60

$2.80

$3.00

2009 OutlookGuidance

2009 Q1Update

2009 Q2Update

2009 Q3Update

FY 2009Results

FY 2009 EPS Of $2.52 Within Original Guidance Range Of $2.45 to $2.80

High End of Range

Low End of Range

* Excludes unusual items.

*

123

$2.52 $0.14$2.46$0.08

ExcludingUnusual Items

Restructuring Discrete Tax Items GAAP

124

Full Year 2009

Excluding Unusual Items, EPS Decreased 30% to $2.52Excluding Unusual Items, EPS Decreased 30% to $2.52

$3.59$0.13 $3.51

$0.21

ExcludingUnusual Items

Restructuring /Impairment

Discrete Tax Items GAAP

2009 2008

125

$0.77B

$0.56B

2008 2009

$5.1B

$6.5B

2008 2009

2009 Revenue Performance

$5.8B

$4.5B

2008 2009

Electrical ProductsElectrical Products

All Segments Hit Hard By Economic DownturnAll Segments Hit Hard By Economic Downturn

ToolsTools

- 22%- 22%

- 22%- 22%

- 27%- 27%

FX -2.0%Acq. .6%Core -20.9%

FX -1.8%Acq. .6%Core -20.4%

FX -2.8%Core -24.4%

2009 Revenue Growth

All Channels And All Regions Severely ImpactedAll Channels And All Regions Severely Impacted

U.S. + Canada ROW (ex Eur) W. Europe

ElectricalDistribution

Retail Utility Direct / OEM Non-Electr.Distribution

Geographic Region

CustomerChannel - 22% - 15% - 21% -17%

- 23% - 16%

(ex Utility)

- 22%

- 30%

(Core -22.8%) (Core -16.7%) (Core -16.7%)

126

2009 Operating Income*

2008 2009Operating IncomeReturn on Revenues

2008 2009

2008 2009

Cooper Industries: - 38% Electrical Products: - 31%

Tools: Tools: -- 77%77%

Significant Impact From Global Economic DownturnSignificant Impact From Global Economic Downturn

14.3%14.3% 14.1%14.1%

3.3%3.3%

11.3%11.3%

16.2%16.2%

10.6%10.6%

$930M

$574M

$930M

$638M

$81M

$19M

* Excluding unusual items 127

-0.3%

8.4% 9.4%

-15.4%-22.0% -23.1% -20.6%

-4.7% -4.6%

1.0%

10.8%7.4%

10.7%

15.4%12.7%

-17.0%

-25.1% -24.8%-18.8%

8.4% 6.3% 4.6%

-30%

-25%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

2001 2002 2003 2004 2005 2006 2007 2008 1Q09 2Q09 3Q09 4Q09

Core

Revenue Growth and ROS History

Year over year growth

4 Years To Recover To 15% ROS In Last Cycle…2 Quarters This Time

Electrical Products

12.0% 13.0% 13.7% 14.6% 15.9% 16.6% 16.2%ROS* 15.1%

* Excl. Restructuring

13.6%12.4%12.5% 15.5%

128

5.4% 2.5% 1.4%

-24.5%-29.5% -27.8%

-13.2%

-9.6%-12.2%

10.6%

5.4%

-1.0%

3.5% 4.8%

-3.7%

-31.5%-35.3%

-31.0%

-7.0%

-6.2%-2.4%

2.3%

-40%

-30%

-20%

-10%

0%

10%

2001 2002 2003 2004 2005 2006 2007 2008 1Q09 2Q09 3Q09 4Q09

Core

Revenue Growth and ROS History

Year over year growth

Strong Sequential Margin Improvement

Tools

4.3% 5.5% 8.5% 9.1% 11.3% 11.8% 10.6%ROS* 4.9%

*Excl. Restructuring

2.1%-3.1%9.5% 8.3%

129

130

$0

$50

$100

$150

2003 2004 2005 2006 2007 2008 2009

Depreciation Capital Spending

OWC Turns

3.0

4.0

5.0

6.0

7.0

2003 2004 2005 2006 2007 2008 2009

Capital Utilization Improvement

55

60

65

70

2003 2004 2005 2006 2007 2008 2009

Receivable DSOInventory Turns

Capital Expenditures

2.0

3.0

4.0

5.0

6.0

7.0

2003 2004 2005 2006 2007 2008 2009

($millions)

131

0.0

0.5

1.0

1.5

2.0

2.5

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Free Cash Flow To Recurring Income*

* Recurring Income from Continuing Operations, excluding unusual items

Nine Consecutive Years Of >1x ConversionNine Consecutive Years Of >1x Conversion

132132

Total Debt (Dec. 31, 2009)

Amount Rate Due Date$ 325 3.55% Nov 20121

300 5.56% Apr 2015300 5.75% Jul 2017

925 Long-Term Debt10 Short-Term & Misc. Long-Term Debt

0 Commercial Paper935 Total Debt

(382) Cash

$ 553 Net Debt ($952 at December 31, 2008)

Balance Sheet Remains A Strategic AssetBalance Sheet Remains A Strategic Asset1 Swapped to Euro Debt - 5.25% note rate at date of issuance

($ Millions)

133

38.8%

36.2%

29.3%

26.1%

20.5%

15.7%

24.8%

26.8%

19.1%

10%

20%

30%

40%

50%

2001 2002 2003 2004 2005 2006 2007 2008 2009

Net-Debt To Total Capitalization*

* Net Debt: Total Debt less Cash and Investments

Continue To Invest In Long-Term Growth While Maintaining A Conservative Capital Structure

Continue To Invest In Long-Term Growth While Maintaining A Conservative Capital Structure

134

Return on Invested Capital

Disciplined Capital ManagementContinues To Drive Returns

Disciplined Capital ManagementContinues To Drive Returns

8.2%

9.7%10.8%

13.5%14.3% 14.7%

10.7%

2003 2004 2005 2006 2007 2008 2009

135

2009 Summary

Cost Structure And Balance Sheet Adjusted Rapidly And Efficiently

Sequential Margin ImprovementsNinth Consecutive Year Free Cash Flow Exceeds Recurring IncomeContinued Strategic Investments In Downturn– New Products, Global Expansion, Acquisitions

Maintained Conservative Capital Structure

Positioned Cooper For The Future

Well Positioned To Leverage Growth OpportunitiesWell Positioned To Leverage Growth Opportunities

2010 OutlookTerry Klebe, SVP and CFO

Cooper Industries2010 Outlook Meeting

137

End Markets

Resi10%

Commercial24%

Utility22%

Industrial39%

Other5%

Diversified End-Market Exposure…Strong Penetration In International Markets

Diversified End-Market Exposure…Strong Penetration In International Markets

2009 Revenues 2010 Revenue Forecast

Resi11%

Commercial21%

Utility22%

Industrial41%

Other5%

138

2010 Forecast: Industrial Market

Cooper Revenue Grows 3% to 7% (0% to 4% Core) On Improving International Markets And MRO SpendCooper Revenue Grows 3% to 7% (0% to 4% Core)

On Improving International Markets And MRO Spend

Industrial Production– U.S. markets flat to up– International markets grow

(especially developing markets)

Factory Utilization– Capacity utilization shows modest

improvement

Capital Spending– MRO orders improve, improved

credit markets help CapEx– Energy efficiency spend continues

Energy– Worldwide infrastructure projects

activity increasing

Canada5%

Europe,M.E., Africa

(EMEA)24%

AsiaPac. 10%

U.S.53%

LatinAmer.

8%

2009 Revenue $2.0 Billion

139

2010 Forecast: Commercial Market

Energy efficiency / LED adoption continues to grow

U.S. non-residential down 15% to 20%

International markets mixed• Europe flat to down• Developing markets grow

Economic stimulus package a wild card

U.S. commercial construction recovery not foreseen until 2011

Canada6%

EMEA26%

AsiaPac.

3%

U.S.62%

LatinAmer.3%

Cooper Revenue Declines 7% to 12% (-9% to -15% Core) On Commercial Construction Continued Weakness

Cooper Revenue Declines 7% to 12% (-9% to -15% Core) On Commercial Construction Continued Weakness

2009 Revenue $1.2 Billion

140

2010 Forecast: Utility Market

Smart grid / utility automation continues to grow

International growth

U.S utility modest spending increase in late 2010

Aging grid continues to need upgrade with long-term outlook positive

Stimulus package opportunities…Smart Grid and T&D investments

Canada6%

EMEA4%

AsiaPac. 13%U.S.

68%

LatinAmer.

9%

Cooper Revenue -2% to +2% As U.S Utility Spending Does Not Improve Until Late 2010Cooper Revenue -2% to +2% As U.S Utility

Spending Does Not Improve Until Late 2010

2009 Revenue $1.1 Billion

141

2010 Forecast: Residential / Retail Market

Remodeling and renovation activity increases as sales of existing and new homes increase

Housing starts continue slow, uneven improvement

Gov’t home buyer tax credits helps growth in first half of 2010

Inventory of unsold / foreclosed homes down from 2009 levels

Consumer confidence shows gradual improvement

Canada17%

EMEA4%

U.S.79%

Cooper Revenue Increases 4% to 9% (3% to 6% Core) On Improved Housing Markets

Cooper Revenue Increases 4% to 9% (3% to 6% Core) On Improved Housing Markets

2009 Revenue $0.5 Billion

142

2009

End Markets: Today vs. Past

Expanding Industrial And Utility ExposureExpanding Industrial And Utility Exposure

2003

Utility + Industrial = 47%Commercial + Resi = 51%

Utility + Industrial = 61%Commercial + Resi = 34%

Resi10%

Commercial24%

Utility22%

Industrial39%

Other5%

Resi18%

Commercial33%Utility

18%

Industrial29%

Other2%

143

RevenuesRevenues (w/FX a 2% tailwind)(w/FX a 2% tailwind) --1% to +4%1% to +4%-- Electrical ProductsElectrical Products --2% to +3%2% to +3%-- ToolsTools +7% to +12%+7% to +12%

Recovery In Most Markets Offset By Contraction In Non-Residential Construction

Recovery In Most Markets Offset By Contraction In Non-Residential Construction

2010 Revenue Growth Forecast

144

E.P.S.

Major Items Impacting 2010 Forecast

Overall Markets + / – + / –Sales Mix +Currency Translation (+2% revenue tailwind) + +Price / Material Economics + / – + / –Restructuring Benefits (+$.11 E.P.S. carryover) +Restructuring Expense (-$.06 to -$.08) +Pension and OPEB Cost (+$.03 E.P.S.) +Interest Cost (+$.04 E.P.S.) +Income Tax Rate (19% to 21% for 2010) – –Strategic Initiatives +Fully Diluted Shares Flat

Positioned Very Well For Strong E.P.S. Growth On Flattish Revenues w/ Strong E.P.S. Growth If Core Revenues Exceed Forecast

Positioned Very Well For Strong E.P.S. Growth On Flattish Revenues w/ Strong E.P.S. Growth If Core Revenues Exceed Forecast

Revenue

145

$0

$50

$100

$15020

0320

0420

0520

0620

0720

0820

0920

10E

Depreciation Capital Spending

OWC Turns

3.0

4.0

5.0

6.0

7.0

2003

2004

2005

2006

2007

2008

2009

2010

E

Capital Utilization Improvement

55

60

65

70

2003

2004

2005

2006

2007

2008

2009

2010

E

Receivable DSOInventory Turns

Capital Expenditures

2.0

3.0

4.0

5.0

6.0

7.0

2003

2004

2005

2006

2007

2008

2009

2010

E

($millions)

146

2.0

1.41.1 1.3 1.1 1.2 >1.0 1.2

1.5 1.2

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

E

Free Cash Flow to Recurring Income

Expect Free Cash Flow In Excess Of Recurring Income For 10th Year In A Row

Expect Free Cash Flow In Excess Of Recurring Income For 10th Year In A Row

1.0

147

RevenuesRevenues $1.26B $1.22 to $1.29B $1.26B $1.22 to $1.29B --3% to +2% 3% to +2% ElectricalElectrical 1.13B 1.13B --4% to +1%4% to +1%ToolsTools .13B .13B +10% to +15%+10% to +15%

Earnings per Share*Earnings per Share* $.47 $.65 to $.70 +38% to +49%$.47 $.65 to $.70 +38% to +49%

Currency Translation In Forecast Adds 4% To Q1 ‘10 Revenues…. Significant Earnings Leverage On Core Revenue Decline

Currency Translation In Forecast Adds 4% To Q1 ‘10 Revenues…. Significant Earnings Leverage On Core Revenue Decline

Outlook 1Q‘10

1Q1Q’’0909 1Q1Q’’1010 V%V%

* Excluding unusual items

148

2010 Financial Summary

Timing Of End-Market Recoveries Vary….Modest Revenue Growth Helped By FXEarnings Per Share Full Year $2.70 to $2.90

Free Cash Flow >1x Continuing Income

– Targeting Over $500 million in FCF– Tenth Consecutive Year

Balance Sheet Used for Internal Investments, Dividends, Selective Acquisitions and Stock Buybacks

Focus On Solid Earnings Leverage And Continued Strong Cash Generation

Focus On Solid Earnings Leverage And Continued Strong Cash Generation

Cooper Industries2010 Outlook Meeting

SummaryKirk Hachigian, Chairman & CEO

150

Cooper In 2006 (Slide from Feb 2009 Outlook)

Revenue - $5.2B (Down 20% From 2008)

Margins:– Electrical 14-16%– Tools 10-11%

Free Cash Flow (After Cap Ex) - $500M

EPS - $2.58*

Well Positioned Heading Out Of TheStorm…With An Attractive Dividend

* 2006 Share count 187.6M vs. ~169M shares today

2010 EPS Estimate Of $2.70 to $2.90

151

2010 Outlook

+ Capital markets are dramatically improved

+ Global economies are stable/improving; emerging markets remain strong

+ Positive indicators─ Manufacturing─ Housing

+ Government stimulus…low interest rates

─ High unemployment remains

─ Record levels of excess capacity

─ Construction and commercial real estate remain weak

─ Reforms are creating uncertainty:▪ Financial ▪ Healthcare▪ Energy/Climate▪ Tax

Improving Headwinds

Growth Will Come From Customer Loyalty, Innovation And Globalization

Growth Will Come From Customer Loyalty, Innovation And Globalization

152

Portfolio Diversity

2010 Revenue Neutral…Next Four Years Look Strong2010 Revenue Neutral…Next Four Years Look Strong

End Market % of Sales 2010 2011 2012 2013 2014

Industrial 39%

Commercial 24%

Utility 22%

Resi/Other 15%

International 39%

Market Outlook

153153

43.9%

15.7%

10%

15%

20%

25%

30%

35%

40%

45%

50%19

98

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Perc

ent

Much Better Positioned Than Last DownturnMuch Better Positioned Than Last Downturn* Net Debt: Total Debt less Cash and Investments

Net-Debt To Total Capitalization*

154

Capital Allocation 2010

Debt

Dividend

Acquisitions

StockBuy-Back

No Debt Due In 2010 And No Commercial Paper Outstanding

~$180M in 2010 – 8% Increase From 2009

Bolt-ons – Drive More Size & Scale

Cheap/Low Risk/No Market Premium (~12M Share Authorization)

Balanced Approach To Maximize Shareholder ValueBalanced Approach To Maximize Shareholder Value

155

Cooper Business Model

Cooper GrowthMandate

Customer Loyalty Innovation Globalization

Talent Development Op. Excellence M&A

Focused And Proven Business ModelFocused And Proven Business Model

156

2003-2008 Cycle Results

2003-2008 Electrical Sales Up 11.4% (7.4% Core) On Average

2003-2008 EPS Total Cooper Grew 20% Per Year

Free Cash Flow Averaged $560M Per Year…Always Greater Than Recurring Income

Exceptional Growth/Earnings And Cash Leverage On An Up Cycle

Exceptional Growth/Earnings And Cash Leverage On An Up Cycle

157

Shareholder Value Creation

All The Pieces Are In Place For Continued Exceptional Returns

All The Pieces Are In Place For Continued Exceptional Returns

DiverseGlobalTechnology

Great Portfolio

Disciplined M&ADividendsBuybacks

Cash Deployment

Business Model/ExecutionStrong Cash FlowRapidly ScalablePerformance-Based Culture

Cooper Industries2010 Outlook

Questions & Answers