Kaman (KAMN) 8-K Regulation FD Disclosure

Kaman Corporation (NASDAQ-GS: KAMN)

Kaman Corporation (NASDAQ-GS: KAMN)

Investor Presentation

August 2009

KAMAN CORPORATION - Overview

Slide 2

H1 2009 Sales
$587 million

Two business segments

KAMAN CORPORATION - Investment Highlights

Slide 3

üHigh margin aerospace business led by specialty bearing product lines

üIndustrial distribution business gaining market share in a fragmented market via
geographic and product line expansion

üLong-term organic growth opportunities in both segments

üPotential to expand growth opportunities and increase scale through acquisitions

üInitiatives underway to optimize profit and increase cash flow generation to position
the company for long-term growth

üSeptember 2007 - Neal Keating joined Kaman as President under a planned

succession (assumed Chairman and CEO titles during 2008)

üDecember 2007 - Sold Music segment to Fender focusing the company on

its core industrial distribution and aerospace businesses

ü2008 - Completed first acquisition in aerospace since 2002 and first acquisitions in

industrial distribution since 2003

üFebruary 2009 - Took title to eleven Kaman manufactured SH-2G helicopters

under a previously negotiated settlement with the Commonwealth of Australia

üJuly 2009 - Received a contract modification award for the JPF program

significantly improving profit on U.S. Government sales

üAugust 2009 - Awarded contract to demonstrate unmanned version of the

company’s K-MAX helicopter to the U.S. Marine Corps

Slide 4

RECENT SIGNIFICANT EVENTS

RECENT KEY APPOINTMENTS

Slide 5

üNeal Keating, Chairman, President and CEO

üGreg Steiner, President, Kaman Aerospace Group

üBill Denninger, Senior Vice President and CFO

üPhil Goodrich, Vice President - Business Development

üRob Starr, Vice President and Treasurer

2009 H1 Sales $333 million

INDUSTRIAL DISTRIBUTION SEGMENT

Slide 7

INDUSTRIAL DISTRIBUTION SEGMENT

Third largest industrial distribution firm in $20 billion power transmission
market.

Strategy:

ØExpand our geographic footprint in major industrial markets to enhance our
position in the competition for national and regional accounts

ØBroaden our product offerings to gain additional business from existing
customers and new opportunities from a wider slice of the market

Customers:

ØBroad cross section of industry with more than 50,000 customers served from
local branches in 72 of the top 100 U.S. Industrial markets.Growing national
account base.

KIT Branch Location

Distribution Center

ISC Branch Location

INRUMEC Location

Slide 8

KAMAN INDUSTRIAL TECHNOLOGIES LOCATIONS

Slide 9

INDUSTRIAL DISTRIBUTION SEGMENT

AEROSPACE SEGMENT

2009 H1 Sales $254 million

Slide 11

Business/Regional

Commercial

Military

AEROSPACE - Business Mix

Slide 12

AEROSPACE - Aerospace Bearing Products

Machineable Self-Lubricating Bearings

ØBrands KAron®, KAtherm®, KAcarb®, and others,

Custom Air Frame Bearings

ØFraslip® and other brands,

ØPlain and self-lubricating sliding bearings, ball bearings

ØCustomized to meet specialized customer requirements in demanding aerospace
and industrial applications.

Low-Maintenance Flexible Couplings

ØKAflex® and Tufflex® brands,

ØUsed extensively in the main and tail rotor drive systems of helicopters

ØCustom-designed and engineered for each application

Slide 13

AEROSPACE - Aerospace Bearing Products

Aerospace and niche industrial markets.

ØFixed Wing (Commercial, Military)

Flight Controls

Landing Gear and Doors

Engines and Accessories

ØHelicopters (Commercial, Military)

Rotor System and Controls

Landing Gear and Doors

Engines and Accessories

Main Engine and Tail Rotor Driveshaft Systems

ØSpacecraft, Submarines, Launch Vehicles and Satellites

Flight Controls

Power Systems

Solar Array Deployment Systems

Hatches and Doors

ØIndustrial

Hydropower Systems

Motor Sport - Steering and Suspension Systems

Slide 14

AEROSPACE - Metallic and Composite Structures

JACKSONVILLE, FL

WICHITA, KS

DARWEN, UK

Capabilities:

ØBuild-to-Print manufacturing of metal and
composite structures and assemblies

ØComposite tooling design and manufacture

Major Customers:

ØSikorsky, Boeing IDS, BAe, Spirit, Airbus,
Boeing Commercial, Aircell

Core Competencies:

ØSheet Metal Fabrication

ØComposite Part Fabrication

ØTooling design and manufacture

ØAircraft Structure Assembly

ØProgram Management

ØSupply Chain Management

Slide 15

AEROSPACE - Helicopter Services

Aftermarket Business

ØSH-2G Naval Helicopter - Support and Upgrades

ØK-MAX Commercial Helicopter Support

ØBlade Overhaul and Repairs

Subcontract Business

ØMDHI Explorer Rotor Blade System

ØSikorsky - H-60 Blackhawk

ØNorthrop Grumman Hawkeye

ØA-10 Re-wing Program

ØSmall Composite Main Rotor Blade (SCRB)

Unmanned Airborne Systems (UAS)

ØUnmanned K-MAX

Slide 16

HARPOON

FMU-139

TOMAHAWK

STANDARD
MISSILE

SLAM-ER

AMRAAM

KPP Fuzes are on a Majority of Major Weapons
Systems

STANDARD
MISSILE

JPF

SLAM-ER

TOMAHAWK

AMRAAM

MAVERICK

AGM-65M

AEROSPACE - Fuzing Systems

Source:Boeing and Airbus historical data and ISM

Slide 17

AEROSPACE ORDERS and DELIVERIES VS. ISM INDEX OVER TIME

FINANCIAL REVIEW

43%

2009 H1 Sales $587 million

Slide 18

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	Q2 2009	Q2 2008	Q2 2009	Q2 2008	Q2 2009	Q2 2008
Industrial Distribution	$155,954	$203,333	$3,065	$9,735	2.0%	4.8%
Aerospace	137,269	112,952	21,600	11,439	15.7%	10.1%
Net gain/(loss) on sale of assets			(53)	(97)
Corporate expense			(8,445)	(6,486)	1 (2.9%)	1(2.1%)
Sales/Op. inc. from continuing ops	$293,223	$316,285	$16,167	$14,591	5.5%	4.6%

Slide 19

INCOME STATEMENT HIGHLIGHTS
For quarters ended July 3, 2009 and June 27, 2008

1 Corporate expense percentage is to Total Sales

(In thousands) SEGMENTS	Net Sales		Operating Income/(Loss)		Operating Margin
	H1 2009	H1 2008	H1 2009	H1 2008	H1 2009	H1 2008
Industrial Distribution	$332,860	$385,498	$5,844	$18,808	1.8%	4.9%
Aerospace	254,398	216,568	36,897	26,055	14.5%	12.0%
Net gain/(loss) on sale of assets			40	(207)
Corporate expense			(17,211)	(16,282)	1 (2.9%)	1(2.7%)
Sales/Op. inc. from continuing ops	$587,258	$602,066	$25,570	$28,374	4.4%	4.7%

Slide 20

INCOME STATEMENT HIGHLIGHTS
For six months ended July 3, 2009 and June 27, 2008

(In Millions)	As of 7/3/09	As of 12/31/08	As of 12/31/07
Cash and Cash Equivalents	$12.4	$8.2	$73.9
Notes Payable and Long-term Debt	$90.6	$94.2	$12.9
Shareholders’ Equity	$294.5	$274.3	$394.5
Debt as % of Total Capitalization	23.5%	25.6%	3.2%
Capital Expenditures (YTD Continuing Operations)	$5.5	$16.0	$14.2
Depreciation & Amortization (YTD Continuing Operations)	$7.7	$12.8	$9.9

BALANCE SHEET AND CAPITAL FACTORS

Slide 21

Slide 22

Forward-Looking Statements

This presentation may contain forward-looking information relating to the company's business and prospects, including the
Aerospace and Industrial Distribution businesses, operating cash flow, and other matters that involve a number of uncertainties that
may cause actual results to differ materially from expectations. Those uncertainties include, but are not limited to: 1) the successful
conclusion of competitions for government programs and thereafter contract negotiations with government authorities, both foreign
and domestic; 2) political conditions in countries where the company does or intends to do business; 3) standard government
contract provisions permitting renegotiation of terms and termination for the convenience of the government; 4) domestic and foreign
economic and competitive conditions in markets served by the company, particularly the defense, commercial aviation and industrial
production markets; 5) risks associated with successful implementation and ramp up of significant new programs; 6) management's
success in resolving operational issues at the Aerostructures Wichita facility;7) successful negotiation of the Sikorsky Canadian MH-
92program; 8) successful resale of the SH-2G(I) aircraft, equipment and spare parts;9) receipt and successful execution of
production orders for the JPF U.S. government contract, including the exercise of all contract options and receipt of orders from allied
militaries, as all have been assumed in connection with goodwill impairment evaluations; 10) satisfactory resolution of the company’s
litigation relating to the FMU-143 program; 11) continued support of the existing K-MAX helicopter fleet, including sale of existing K-
MAX spare parts inventory; 12) cost growth in connection with environmental remediation activities at the Bloomfield, Moosup and
New Hartford, CT facilities and our U.K. facilities; 13) profitable integration of acquired businesses into the company's operations; 14)
changes in supplier sales or vendor incentive policies; 15) the effects of price increases or decreases; 16) the effects of pension
regulations, pension plan assumptions and future contributions; 17) future levels of indebtedness and capital expenditures; 18)
continued availability of raw materials and other commodities in adequate supplies and the effect of increased costs for such items;
19) the effects of currency exchange rates and foreign competition on future operations; 20) changes in laws and regulations, taxes,
interest rates, inflation rates and general business conditions; 21) future repurchases and/or issuances of common stock; and 22)
other risks and uncertainties set forth in the company's annual, quarterly and current reports, and proxy statements. Any forward-
looking information provided in this presentation should be considered with these factors in mind. The company assumes no
obligation to update any forward-looking statements contained in this presentation.

Contact:
Eric B. Remington, Vice President
(860) 243-6334
Eric.Remington@kaman.com