Woodward : Fiscal 2024 Second Quarter Earnings

CAUTIONARY STATEMENT

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These forward-looking statements include, but are not limited to, our prioritization of growth, operational excellence and innovation, including to the outcome of such efforts on our long-term success and shareholder value; demand for our products and services and our ability to capitalize on such demand, trends in our markets and statements regarding our business and financial guidance for the remainder of fiscal year 2024, including our guidance for sales, adjusted earnings, adjusted earnings per share, segment sales growth, segment earnings as a percent of sales, adjusted effective tax rate, adjusted free cash flow, capital expenditures, and diluted weighted shares outstanding, as well as our assumptions and expectations regarding our guidance. Factors that could cause actual results and the timing of certain events to differ materially from the forward-looking statements include, but are not limited to: (1) global economic uncertainty and instability, including in the financial markets that affect Woodward, its customers, and its supply chain; (2) risks related to constraints and disruptions in the global supply chain and

labor markets; (3) Woodward's long sales cycle; (4) risks related to Woodward's concentration of revenue among a relatively small number of customers; (5) Woodward's ability to implement and realize the intended effects of any restructuring efforts; (6) Woodward's ability to successfully manage competitive factors including expenses and fluctuations in sales; (7) changes and consolidations in the aerospace market; (8) Woodward's financial obligations including debt obligations and tax expenses and exposures; (9) risks related to Woodward's U.S. government contracting activities including potential changes in government spending patterns; (10) volatility with respect to the China on-highway natural gas truck market; (11) Woodward's ability to protect its intellectual property rights and avoid infringing the intellectual property rights of others; (12)

changes in the estimates of fair value of reporting units or of long-lived assets; (13) environmental risks; (14) Woodward's continued access to a stable workforce and favorable labor relations with its employees; (15) Woodward's ability to manage various regulatory and legal matters; (16) risks from operating internationally; (17) cybersecurity and other technological risks; and other risk factors and risks described in Woodward's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2023, any subsequently filed Quarterly Report on Form 10-Q, as well as its Quarterly Report on Form 10-Q for the second quarter ended March 31, 2024,

which we expect to file shortly, and other risks described in Woodward's filings with the Securities and Exchange Commission.

Q2 FISCAL YEAR 2024 SUMMARY

Q2 FISCAL YEAR 2024 CONSOLIDATED RESULTS

AEROSPACE

OVERVIEW

AEROSPACE - COMMERCIAL

WWD Commercial

OEM Sales

• GROWTH15%

Q2'FY23 to Q2'FY24

C O M M E R C I A L A F T E R M A R K E T

WWD Commercial

Aftermarket Sales

↑18%

GROWTH

Q2'FY23 to Q2'FY24

Continued passenger traffic growth in all regions

High aircraft utilization

Price realization

AEROSPACE - DEFENSE

INDUSTRIAL

OVERVIEW

INDUSTRIAL - PRIMARY MARKETS

Q2'FY23 VS Q2'FY24

WWD Transportation

Sales

WWD Power Generation

Sales