Barnes : Company Overview - April 2024 Presentation

Unlocking Value through Execution

Company Overview

April 2024

Safe Harbor Statement and Non-GAAP Measures

This Presentation Contains Forward-looking Statements

Forward-looking statements are made based upon management's good faith expectations and beliefs concerning future developments and their potential effect upon the Company.

These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements, including the risks and uncertainties set forth under our full disclosure located at the end of this presentation and included in our SEC filings.

Any forward-looking statements speak only as of the date on which it is made, and the Company assumes no obligation to update our forward-looking statements.

References to adjusted financial results are non-GAAP measures. You will find GAAP reconciliation tables at the end of this presentation.

"EPS" refers to diluted earnings per share.

Company Overview, April 2024

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Company Overview

Barnes at a Glance (NYSE: B)

2023 Highlights

1857	$1.45B	$270M	$57M	6,500	70+
Founded	Sales	Adj EBITDA(1)	Free Cash Flow(1)	Employees	Countries
	+15% Reported YoY	18.6% Adj EBITDA Margin	+40% YoY		Revenue Contribution
	+5% Organic YoY				55% Americas
					29% Europe
					16% Asia

42% Aerospace
Manufacturer of complex
fabricated and precision machined 37%
components and assemblies for
the aerospace industry, including	63%
spares and component repairs for
the aftermarket

OEM Aftermarket

58% Industrial	8%
Global provider of highly-
engineered, high-quality	48%
precision products, systems and
solutions for critical applications	44%
serving a diverse customer base

in several key end markets

Molding Solutions

Motion Control Solutions

Automation

Partnered with Global Industry Leaders

Building Toward a $2B Business

1. Non-GAAP measure. For a reconciliation to the appropriate GAAP measure, see the Appendix of this presentation.

Company Overview, April 2024

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Strategic Portfolio Transformation

Shifting to a Focused and Value-Driven Business

30%

		29%
Revenue Mix	~43%
	Industrial	~57%
	Aerospace	71%

70%

2021	2024(1)	Long Term
Reported	(Illustrative)
Highly cyclical	Acquired MB Aerospace	Less cyclical / more stable
Aligned heavily to automotive market	Announced divestiture of	Tech-enabled end markets
OEM pricing pressure	Associated Spring and	Providing solutions
Lower growth / lower margin	Hänggi businesses	Higher growth / higher margin

1. Based on midpoint of 2024 guidance range

Company Overview, April 2024

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Building on Our Strengths and Sustainable

Competitive Advantages

Core Strengths

Market leadership	Culture built on	Deep, experienced	Global manufacturing,	Stable	Increased	An unwavering
with high-quality	strong values,	management driving	sales and service;	cash generation	investment in new	commitment to ESG
brands	teamwork, agility	performance	"local for local"		growth platforms -
	and community spirit	excellence			strategic marketing
					and digitalization

Competitive Advantages

Total solutions provider of design, application and process engineering

Mission-critical technologies

for high-precision and high-

volume applications

Deep, long-standing

customer partnerships with

industry leaders

Strategic focus on innovation, commercial excellence and digitalization

Company Overview, April 2024

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Delivered Meaningfully on Our Strategic Priorities in 2023

Execute

Core Business

• Delivering operational and commercial excellence
• Applying discipline around cost management and working capital efficiencies
• Driving productivity, simplifying process, and rationalizing footprint

Integrate, Consolidate,

and Rationalize

Industrial

• Announced divestiture of

Associated Spring and Hänggi businesses

• Exit automotive components manufacturing
• Simplify the Industrial segment

Scale

Aerospace

• Acquired MB Aerospace; largest transaction in Barnes' history
• Shifting portfolio to higher- growth, higher-margin, value- driven business
• Expanding geographic reach, deepening customer relationships and providing diverse capabilities with differentiated service offerings

Company Overview, April 2024

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Aerospace Segment

Scale Aerospace

MB Aerospace Update

Closed August 2023

Integration Going as Planned

• "Stronger Together" approach
• New organization in place - leadership from legacy Barnes and MB Aerospace
• $2 billion of full-term value in recent and pending long- term agreements
• 2023: $8.5M run-rate synergies achieved
• 2024: $12M line of sight run-rate synergies

Realizing Operational & Commercial Benefits

• Expands geographic footprint
• Broader set of complementary capabilities
• Deepen relationships with existing customers through cross-sell opportunities
• Strategically aligned across major platforms
• Enhanced scale, complementary capabilities, and growth opportunities

Company Overview, April 2024

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Scale Aerospace

Aerospace at a Glance

• Integrated and aligned business; robust aftermarket continues to drive strong revenue and margin growth
• Enhance, focus, and grow to drive performance
• Leverage core capabilities to expand into adjacent aerospace markets to drive organic growth
• Invest in sales and deepen strategic partnerships
• Advance investments in automation
• Industry-leadingperformance

Revenues ($M) $608

$429

$354 $362

2020

2021

2022

2023(1)

Adj. Operating Income ($M) / Margin (%)(2)

$92

$76

$59$53

16.7%	14.7%	17.7%	15.1%
2020	2021	2022	2023 (1)

1. 2023 actuals include the incremental contribution from MB Aerospace, which was acquired August 31, 2023.	Company Overview, April 2024 10
2. Non-GAAP measure. For a reconciliation to the appropriate GAAP measure, see the Appendix of this presentation.