Astronics Corporation NASDAQ: ATRO SAFE HARBOR STATEMENT

JEFFERIES 2013 GLOBAL INDUSTRIALS CONFERENCE August 14, 2013

PETER J. GUNDERMANN DAVID C. BURNEY PRESIDENT & CEO EXECUTIVE VP & CFO

These slides (and the accompanying oral discussion) contain “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company’s customers and suppliers, competitor responses to the Company’s products and services, the overall market acceptance of such products and services, the effect of the Company’s strategy and other factors disclosed in the Company’s periodic reports filed with the Securities and Exchange Commission. Consequently such forward looking statements should be regarded as the Company’s current plans, estimates and beliefs. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

NASDAQ: ATRO Index membership Russell 3000®/2000®/Microcap® Recent price $40.82 52-week range $19.25 - $42.94* Market capitalization $592.4 million

Total shares outstanding: Common 11.2 million Class B (10 votes per share) 3.3 million*

Avg. daily trading volume (3 mos.) 89,600

Ownership (Common and Class B shares): Institutional 60.8% Insider 13.6%

Market data as of close of business August 8, 2013 [Source: Bloomberg LP]; ownership as of most recent filing * Adjusted for the October 29, 2012 three-for-twenty class B stock distribution 3 © 2013 by Astronics Corporation ASTRONICS CORPORATION

Revenue Q2 2013 TTM Aerospace $281.1 million • Electrical power for passengers and 4% aircraft • Aircraft lighting and safety equipment • Avionics

Test Systems

96% • Military test systems • Weapons diagnostic test systems Aerospace Test Systems

Peco $266.4 $228.2 $191.2 $195.8

$144.8 1H

2009 2010 2011 2012 2013E*

$(0.28) $1.05 $1.45 $1.45 Diluted EPS**

* Guidance provided as of July 31, 2013; 2013E includes $35 million - $40 million of revenue for Peco, since its July 18, 2013 acquisition ** Adjusted for the October 29, 2012 three-for-twenty class B stock distribution 5 © 2013 by Astronics Corporation EXPANDING SHIP SET CONTENT

Higher future ship set content

Expanded ship set content: $50,000 - $300,000

Traditional ship set content: $2,000 - $10,000

By Markets By Products Airfield FAA/Airport, Lighting, 4% 4%

Avionics, Military 7% Aircraft, Aircraft 14% Lighting, 26%

Business Jet, 11% Airframe Commerical Cabin Power, Transport, Electronics, 71% 7% 56%

Q2 2013 TTM Aerospace Segment Sales: $270.9 million

1800 History Forecast 1600

1400

1200

1000

800 Aircraft Units Aircraft

600

400

200

0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Light/Medium Heavy

Growth Drivers

• Hybrid systems: Passenger power + IFE and others • Expanding universe of PEDs

• New services: Wi-Fi and voice • Expansion across all fare classes • Expansion from wide to narrow bodies

Seat Power Module for Thales & Panasonic In-Use Light Outlet Unit Providing ~ 75 In-Use Lights and 300 Outlet Units

Approximately $200k per ship set

History Forecast

~10,000 Aircraft from 2012 - 2022

System advantages:

• Increased reliability • Reduced weight • Automation • Flexibility • Lower life- cycle cost

• ~$225-$230K / Aircraft

Prop Rotor Lights § Exterior lights § Escape path system § Fire suppression controller § Avionics panels & keyboards § Approximately $70k to $75k per ship set

Ø Translation devices that enable varying system protocols to communicate § Primarily used in aircraft upgrades - military and commercial applications § Both embedded applications as well as test and simulation § High Quality Customer Base • Includes L3, Boeing, Rockwell Collins, General Atomics, GE Aviation

Ø Enhanced Vision Systems (EVS) for fixed and rotary wing aircraft § Provides real-time display for increased visibility in adverse weather conditions § FAA certified on more than 200 aircraft models EVS

Sales Ø Acquired July 2013 Ø $136 million purchase price 15% Ø Expanded senior credit facility for funding

Ø ~85% of revenue is aerospace 85%

Ø Expands lighting and safety content in commercial aircraft Aerospace Other

Ø Largest customer: Boeing Ø 737 - approximately $100k in content (BSI passenger service units, fuel access doors) Ø 777 - approximately $235k in content (passenger service units, fuel access doors) Ø 787 - approximately $45k in content (fuel access doors) Ø 747 – approximately $30k in content (passenger service units, fuel access doors)

Ø Solid financial performance: Ø 2012 revenue was $77.8 million; Expecting contribution of $35 million - $40 million in 2013 Ø Adjusted EBITDA margins comparable with ATRO

Wide range of high profile next generation aircraft platforms

Piaggio Avanti: Embraer Phenom 100/300: Learjet 85: Cockpit lighting Exterior lighting Electrical power distribution UH-60 Blackhawk: Airbus A380: (EPDS) Exterior cockpit lighting Cabin lighting & cabin electronics Pilatus PC-24: V-22 Osprey: Boeing 787: EPDS & starter generator Cabin, cockpit & exterior lighting Cabin electronics & fuel doors Airbus 350: Cessna: F-35 JSF: Cabin lighting & electronics Exterior & cockpit lighting Exterior lighting suite & lighting Two Unnamed Biz Jets: Boeing 737 NG & BSI: controllers Electrical power distribution PSU, fuel doors & passenger power available

Next Current Ramping Generation

Synthetic instrument-based, software-defined automated test solutions for domestic and foreign military: ► Front line to depot repair level ► Electro-optical devices ► Military communications ► Factory test solutions ► Unmanned ground or air vehicles ► Portable maintenance solutions

($ in millions, except EPS) Sales Annual Bookings $325-$340

$278.0 $266.4 Peco $271.1 $228.2 $234.0 $210.2 $191.2 $195.8

$145.7

2009 2010 2011 2012 2013E* 2009 2010 2011 2012 Q2 2013 TTM $(0.28) $1.05 $1.45 $1.45 Diluted EPS** * Guidance provided as of July 31, 2013; 2013E includes $35 million - $40 million of revenue for Peco, since its July 18, 2013 acquisition ** Adjusted for the October 29, 2012 three-for-twenty class B stock distribution 19 © 2013 by Astronics Corporation SOLID MARGINS

($ in millions) Gross Profit Operating Profit (Loss) & Margin & Margin

$73.2 $34.6 $69.4 $32.6 $30.8 $60.5 $24.4 $47.6

$37.3

12.5% 13.5% 12.2% 12.3%

$(6.2) 19.5% 24.3% 26.5% 26.1% 26.0% (3.2)%

2009 2010 2011 2012 Q2 2013 2009* 2010 2011* 2012 Q2 2013 TTM TTM

* Reflects a write down of $19.4 million and $2.5 million for test systems goodwill and intangible assets in 2009 and 2011, respectively

($ in millions)

Bookings Revenue Net Income

$77.2 $70.8 $66.3 $65.0 $5.2 $5.2 **

8.0%* 7.3%*

Q2 2012 Q2 2013 Q2 2012 Q2 2013 Q2 2012 Q2 2013 * % of Revenue

** Q2 2013 net income impacted by $0.9 million of pre-tax acquisition and financing related expenses

$32.5 $16.7 $27.9 $14.3 $24.2

$16.5 $5 - $10 $3.6 $3.7 1H

2010 2011 2012 Q2 2013 TTM 2010 2011 2012 2013E* * Guidance provided as of July 31, 2013 Cash & Cash Equivalents Funded Debt & Equity

$22.7 $16.5 $199.0

$10.9 $30.0 $25.5 $7.4 $33.3 $125.1 $139.7 $139.7 $102.9

2010 2011 2012 Q2 2013 2011 2012 Q2 2013 Proforma Shareholder Equity Funded Debt Q2 2013* * In July 2013, a new $190 million term loan was obtained to fund 22 the Peco acquisition and repay $14.5 million of outstanding debt. © 2013 by Astronics Corporation DEVELOP AND CAPITALIZE ON TECHNICAL EXPERTISE

($ in millions) Engineering & Development Expense Identify market opportunities $53-$56 $50.0 $45.0 $36.1 Develop/acquire technical $28.3 capability

Earn higher returns by 2010 2011 2012 Q2 2013 TTM 2013E* providing innovative solutions

14.5% 15.8% 16.9% 17.8% 16.4% Percent of Sales

Exterior Lighting • Zodiac • Goodrich • Honeywell • Whelen Cockpit Lighting • Zodiac • Numerous smaller • Esterline suppliers Cabin Lighting • Hamilton • Diehl Aerospace Sundstrand/UTC • Honeywell Cabin Electronics • Airbus KID – Systeme Airframe Power • Hamilton • Zodiac Sundstrand/UTC • Honeywell • Crane Aerospace • OEM internal processes Airfield Lighting • ADB Airfield Solution • Crouse-Hinds Avionics Databus • GE • Kontron • North Atlantic Industries EVS (Commercial Aircraft) • FLIR PSUs and Fuel Doors • B/E Aerospace • United Technologies • Zodiac • Diehl Aerospace Test Systems • Aeroflex • EADS • Lockheed

Everett, WA – Kirkland, WA – Montreal, 16,000 sq. ft. 92,000 sq. ft. Quebec – (leased) (own) 25,000 sq. ft. (leased)

Portland, OR– Portland, OR– 154,000 sq. ft. 4,600 sq. ft. added with July 2013 (leased) Peco acquisition Lebanon, NH – (leased) 80,000 sq. ft. East Aurora, NY (own) Corporate Headquarters – 125,000 sq. ft. (own)

Orlando, FL – 51,000 sq. ft. (leased) Ft. Lauderdale, FL 96,000 sq. ft. (own)

Aerospace

Test Systems