2017 Spirit Investor Day

Title: 20 60 145

Text: 93 95 94 2017 Spirit Investor Day

Color #1: 20 60 145

Color #2: September 27, 2017 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Text: Cautionary Statement Regarding Forward-Looking Statements: This presentation contains “forward-looking statements” that may involve many risks and uncertainties. Forward-looking statements reflect our current expectations 93 95 94 or forecasts of future events. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “goal,” “forecast,” “intend,” “may,” “might,” “objective,” “plan,” “predict,” “project,” “should,” “target,” “will,” “would,” and other similar words, or phrases, or the negative thereof, unless the context requires otherwise. These statements reflect management’s current views with respect to future events and are subject to risks and uncertainties, both known and unknown. Our actual results may vary materially from those anticipated in forward-looking statements. We caution investors not to place undue reliance on any forward-looking statements. Important factors that could cause actual results to Color #1: differ materially from those reflected in such forward-looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing 20 60 145 programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the 787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global economic conditions on the business aircraft market and expanding conflicts or political Color #2: unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global economic uncertainty or otherwise; 8) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the 117 178 63 success and timely execution of key milestones such as the receipt of necessary regulatory approvals and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing’s and Airbus’ production of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes or acts of terrorism; 14) any adverse impact Color #3: on the demand for air travel or our operations from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on 255 102 0 pension obligations; 17) our ability to borrow additional funds or refinance debt; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of potential changes in tax law, such as those outlined in recent proposals on U.S. tax reform; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain highly-skilled employees and our relationships with Color #4: the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and borrowing facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our existing 0 176 240 senior revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; and 30) exposure to potential product liability and warranty claims. These factors are not exhaustive and it is not possible for us to predict all factors that could cause actual results to differ materially from those reflected in our forward-looking statements. These factors speak only as of the date hereof, and new factors may emerge or changes to the foregoing factors may occur that could impact our business. As with any projection or forecast, these statements are inherently susceptible to Color #5: uncertainty and changes in circumstances. Except to the extent required by law, we undertake no obligation to, and expressly disclaim any obligation to, publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additional information concerning these and 247 182 63 other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Color #6: 93 95 94 2 Title: 20 60 145 Agenda

Text: 93 95 94 . 8:00am – 9:00am Breakfast

Color #1: . 9:00am – 9:05am Welcome & Agenda Ghassan Awwad 20 60 145 . 9:05am – 9:15am Introduction Sanjay Kapoor 9:15am – 10:00am Business Strategy & Overview Tom Gentile Color #2: . 117 178 63 . 10:00am – 10:45am Innovation & Technology John Pilla . 10:45am – 11:00am People & Values Tom Gentile Color #3: 255 102 0 . 11:00am – 11:10am BREAK . 11:10am – 11:55am Financial Review Sanjay Kapoor Color #4: 0 176 240 . 11:55am – 12:25pm Q&A ALL . 12:25pm – 12:30pm Closing Remarks Tom Gentile Color #5: 247 182 63

Color #6: 93 95 94 3 Title: 20 60 145

Text: 93 95 94 2017 Spirit Investor Day

Color #1: 20 60 145

Color #2: Sanjay Kapoor 117 178 63 EVP & Chief Financial Officer Color #3: 255 102 0

Color #4: 0 176 240 September 27, 2017 Color #5: 247 182 63

Color #6: 93 95 94 Title: 20 60 145 Investor Relations

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0

Ghassan Awwad Kailash Krishnaswamy, PhD Color #4: (Global Production Engineering) (IR, M&A and Strategy) 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 5 Title: 20 60 145

Text: 93 95 94 2017 Spirit Investor Day

Color #1: 20 60 145

Color #2: Tom Gentile 117 178 63 President & Chief Executive Officer Color #3: 255 102 0

Color #4: 0 176 240 September 27, 2017 Color #5: 247 182 63

Color #6: 93 95 94 Title: 20 60 145

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 7 Title: 20 60 145 Aerostructures Market Segments

Text: A $55 B Market 93 95 94 Space Structures

Color #1: Satellite Structures

20 60 145 Missile Structures

Commercial / Military UAV Structures Color #2: 117 178 63 Commercial / Military Aftermarket Structures $1.8B Commercial / Military Color #3: Tier 2/3 Structures $0.4B 255 102 0 Military Fixed / Rotor $0.4B Structures $0.6B Commercial Tier 1 $3B Structures Color #4: $3.7B 0 176 240 Boeing Structures $8B $21B Spirit Color #5: $7 B $10B 247 182 63

Expanding in Structures Provides Color #6: Significant Growth Opportunity 93 95 94 8 Title: 20 60 145 Spirit is the Leading Global Aerostructures Tier 1 Supplier

Text: Global aerostructures leader With a balanced aerostructures portfolio 93 95 94

Others Color #1: 20 60 145 Fuselage Propulsion Wing (52%) (26%) (22%) Color #2: 117 178 63 And an emerging presence in Defense

Source: Counterpoint Sikorsky CH-53K Bell V-280 P-8A, P-8I Color #3: 255 102 0 On all of ~12,500 Boeing/Airbus backlog

Color #4: 0 176 240 KC-46A Tanker Northrop Grumman B-21

Color #5: 247 182 63

Current SPR backlog = $46 B Color #6: 93 95 94 9 Title: 20 60 145 Spirit Financials

Text: Revenue Free Cash Flow* 93 95 94 ($1B) 6.8 - 6.9 7% - 8% 5.2 Color #1: 20 60 145

-2% Color #2: 117 178 63 2012 ^ 2017E 2012 2017E

Color #3: 255 102 0 . Investment Grade as of 1Q16

Color #4: . Stock Repurchase of >$1 B since ’15 0 176 240

. Dividend Initiated November 2016 Color #5: 247 182 63

^ Excludes revenue / deliveries on Gulfstream programs, see appendix for details Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 10 Title: 20 60 145 Traffic Growth Driving Strong Rates and Backlog

Text: Today Announced 93 95 94 Air Traffic Growth Projected 47  57 737 Color #1: at ~5% for the next 20 years 20 60 145 46  60 A320 Color #2: 117 178 63 12  14 787

Color #3: 255 102 0 9  10 A350

Color #4: 0 176 240 2Q17 Backlog Other B787 Color #5: Source - Airline Monitor, Spirit AeroSystems. $46 B 247 182 63 A350 B737 A320

Color #6: B777 93 95 94 11 Title: 20 60 145

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 12 Title: 20 60 145 Strategic Summary

Text: Vision 93 95 94 Innovate in large scale and composite design and manufacturing capabilities to become the leading aerospace Color #1: structures company 20 60 145 Where to Compete How to Compete Strategic Priorities Execution Requirements Color #2: 117 178 63 . Strengthen Boeing Relationship . Execute Supply Chain Strategy

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 13 Title: 20 60 145 Summary of Boeing Agreement

Text: 93 95 94 . Resolves commercial issues into 2022

. Joint study on advanced aerostructures & manufacturing Color #1: 20 60 145 . Agrees on step-down pricing on 787-9 and -10

Color #2: 117 178 63 . Results in forward loss of $353 million on 787 in 2Q17

. Implements joint cost reduction efforts on 787 Color #3: 255 102 0 . Establishes productivity discounts on 737 tied to volume

Color #4: 0 176 240 . Agrees on investments for rate increases on the 737/787

. Returns $235 million 787 interim payment to Boeing Color #5: 247 182 63 . Moves to industry standard payment terms

Color #6: Definitive Documentation Executed on Sept 22 93 95 94 14 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 15 Title: 20 60 145 Airbus Products and Growth Potential

Text: A320 A350 A380 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0 New Growth Avenues

Color #4: 0 176 240

Color #5: 247 182 63

A320 Spoiler re-design R&D Technologies Work packages

Color #6: 93 95 94 16 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 17 Title: 20 60 145

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 18 Title: 20 60 145 Fabrication Activity

Text: . 5-axis Machining Center of Excellence 93 95 94 established in Wichita, KS

Color #1: 20 60 145 . 3- and 4-axis Machining Center of Excellence established in McAlester, OK

Color #2: 117 178 63 . Chemical Processing Center of Excellence expansion in Wichita, KS Color #3: 255 102 0 Kevin Matthies . Manufacturing facilities expansion in SVP, Global Fabrication Color #4: Malaysia for assembly work 0 176 240 . Plans for 3D / Additive Center of Color #5: Excellence 247 182 63

Color #6: Goal: Build $1B Business (internal sourcing and external revenue) 93 95 94 19 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 20 Title: 20 60 145 Defense Products

Text: Boeing P-8 Boeing KC-46 Tanker Bell V-280 Valor Sikorsky CH-53K 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0 Northrop Grumman B-21

Color #4: 0 176 240 Krisstie Kondrotis SVP, Defense Color #5: 247 182 63

Color #6: Goal: Build $1B Business within 5 Years; 10% - 15% of Revenue 93 95 94 21 Title: 20 60 145 Defense Growth Leverages Key Differentiators

Text: 93 95 94 . A global Tier 1 aerostructures leader

Color #1: . Encompassing all aspects of design, build, integration 20 60 145 and support

Color #2: . Competitive rate structure; focus on cost improvement 117 178 63

. Design for manufacturing as demonstrated through Color #3: rapid prototyping on the V280 255 102 0

. Congressional advocacy and support Color #4: 0 176 240 . Long legacy and employees with deep expertise in design for defense platforms Color #5: 247 182 63

Color #6: Defense Growth Leverages Commercial Expertise 93 95 94 22 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 23 Title: 20 60 145 Transformational Supply Chain Strategy

Text: 93 95 94 . Clean Sheets – Leverage 75,000 clean sheets with goal to achieve should-cost

Color #1: . Strategic Sourcing Process – Generate consistent and 20 60 145 transparent sourcing management. 5 gates; 221 deliverables Color #2: 117 178 63 . Supplier Support – Provide assistance to help suppliers achieve clean sheet cost

Color #3: . Insourcing – Take advantage of Spirit scale and 255 102 0 capabilities to achieve clean sheet cost

Color #4: . Hyper Competitive Negotiations – Launch Monday, 0 176 240 award Friday. 4 waves to-date

Color #5: . Transfer of Work (ToW) – Govern and manage change. 247 182 63 8 gates; 21 deliverables

Continuous Process Improvements Offset Color #6: Escalations and Customer Pricing 93 95 94 24 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 25 Title: 20 60 145

Text: 93 95 94 2017 Spirit Investor Day

Color #1: 20 60 145

Color #2: John Pilla 117 178 63 SVP & Chief Technology and Quality Officer Color #3: 255 102 0

Color #4: 0 176 240 September 27, 2017 Color #5: 247 182 63

Color #6: 93 95 94 Title: 20 60 145

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 27 Title: 20 60 145 Topics for Today’s Discussion

Text: 93 95 94 . Legacy of innovation

Color #1: . Driving productivity 20 60 145

. Winning new work Color #2: 117 178 63 . Innovating the next generation of aerostructures

Color #3: 255 102 0 . Research collaboration

Color #4: . Developing the next generation of talent 0 176 240 . Increasing R&D investment Color #5: 247 182 63

Color #6: 93 95 94 28 Title: 20 60 145 Legacy of Engineering and Technology Innovation

Text: 93 95 94 . Boeing 787: developed and designed fuselage

Color #1: 20 60 145 . Northrop Grumman: R&D Supplier of the Year

Color #2: 117 178 63 . Airbus A350: developed new composite Color #3: processing methods and architecture for spar 255 102 0 and fuselage

Color #4: 0 176 240 . Boeing 737 MAX and Boeing 777X: fuselage and nacelle, incorporating new technology Color #5: 247 182 63

Color #6: 93 95 94 29 Title: 20 60 145 Productivity: More Efficient Inspection Technologies

Text: Laser dimensional verification Positioning sensors 93 95 94 improves quality In line fiber reduce labor placement inspection increases machine utilization Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0 Smart inspection for human assist Color #4: 0 176 240 Multi-sensor CMM

Color #5: 247 182 63

Color #6: Rapidly Deploying Technologies to Drive Productivity 93 95 94 30 Title: 20 60 145 Productivity: New Manufacturing Technologies

Text: 93 95 94 Semi-auto drilling: Color #1: Joule forming: Cryo-machining: improves quality Automated sealing: 20 60 145 40% reduction reduces 10 hr/pylon and ergonomics 30% efficiency gain

Color #2: 117 178 63

Color #3: 255 102 0 Less material Less time and space Achieve rates at Less labor and material lower cost Color #4: 0 176 240

Color #5: 247 182 63

Color #6: Significant Increase in Productivity 93 95 94 31 Title: 20 60 145 Productivity: Digital Technologies

Text: Augmented reality 93 95 94 Auto part location projection supports rate increases enables labor productivity

Color #1: 20 60 145

Color #2: 117 178 63 Factory simulation Color #3: Autoclave load optimization illustrates lowest- Data-driven factory 255 102 0 improves machine utilization cost solutions increases efficiency

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: Rapidly Deploying Technologies to Drive Productivity 93 95 94 32 Title: 20 60 145 Win New Business: Leading Advanced Wing Technologies

Robots in Prestwick Text: New spoiler is 15% lower cost 93 95 94 support rate increases 

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0 Out-of-autoclave composites reduce capital cost

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: Technology Collaborations for Current and Next Platforms 93 95 94 33 Title: 20 60 145 Win New Business: Propulsion Designs for Performance

Text: Novel cascade Design for higher 93 95 94 saves 30% cost engine temperatures

Color #1: 20 60 145

Color #2: 117 178 63 Laminar designs with new processes reduce fuel burn

Color #3:

255 102 0 Gap current tech

Color #4: 0 176 240 Current Monolithic No Gap

Color #5: in work 247 182 63

Utilizing Advanced Engineering Color #6: Analysis and Test Capabilities 93 95 94 34 Title: 20 60 145 Win New Business: Poised for Next Gen Fuselage

Text: Product development configurations New tooling tech for 93 95 94 targeting weight and cost improvements 75% lead time reduction

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: Simulations enable R&D to 255 102 0 double layup speed Engineering analysis tools speed design

Color #4: 0 176 240

Color #5: 247 182 63

Innovating across R&D, Design and Color #6: Manufacturing for Next Gen Airplanes 93 95 94 35 Title: 20 60 145 Innovative Structures: Metal Additive (Norsk)

Text: . Metal additive technology replaces expensive hard metal machining (Ti) 93 95 94 . Reduces material waste by approximately 60% . Advocating before FAA regulatory committee with OEMs Color #1: 20 60 145

Spirit parts being produced with Norsk Titanium Color #2: 787 main sill shear clip 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Collaborations with Supply Chain Speed Color #6: Technology Maturation 93 95 94 36 Title: 20 60 145 Next Gen AeroStructures: Defense Research

Text: 93 95 94 Efficient out-of-autoclave Advancing equipment designs capabilities Color #1: 20 60 145

Color #2: 117 178 63

Color #3: High-performance 255 102 0 Improving architectures materials

Color #4: 0 176 240

Color #5: 247 182 63

Contract R&D with OEM Partners Advances Color #6: Aviation and Defense Capabilities 93 95 94 37 Title: 20 60 145 Research Collaboration

Text: . A-Stars (Singapore) – repair 93 95 94 . NCC (UK) – composite prototyping Color #1: 20 60 145 . AFRC (Scotland) – composite inspection

Color #2: . AMRC (UK) – assembly technologies 117 178 63 . EWI (US) – joining & welding Color #3: 255 102 0 . ARM (US) – robotics

Color #4: . DMDII (US) – digital factory 0 176 240 . NIAR (US) – wide range with matching funds

Color #5: 247 182 63 . Malaysia Research Center – manufacturing technologies

Color #6: Participation in Cutting Edge Research Around the World 93 95 94 38 Title: 20 60 145 Developing the Next Generation of Engineering Talent

Text: 93 95 94 R&D Degrees

Color #1: Tech Other, 20 60 145 Cert, 19% 3%

Color #2: PhD, BS/BA, 117 178 63 9% MS, 54% 15%

Color #3: 255 102 0

Color #4: 0 176 240 1,000+ engineers ~250 with government clearance Color #5: 247 182 63

Color #6: 93 95 94 39 Title: 20 60 145 A Record of Successful R&D Spending

Text: 93 95 94

Color #1: 20 60 145 Sized according to aerospace related sales

Color #2: 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: IP: Punching Above Weight 93 95 94 40 Title: 20 60 145 Increasing R&D Investments

Text: 93 95 94 . Productivity . New business Color #1: . Next gen structures 20 60 145

Color #2: 117 178 63 % of sales Externally Funded Color #3: 255 102 0

Color #4: 0 176 240 Internally Funded

Color #5: 247 182 63 2013 2014 2015 2016 2017E 2020E

Color #6: 93 95 94 41 Title: 20 60 145

Text: 93 95 94 2017 Spirit Investor Day

Color #1: 20 60 145

Color #2: Tom Gentile 117 178 63 President & Chief Executive Officer Color #3: 255 102 0

Color #4: 0 176 240 September 27, 2017 Color #5: 247 182 63

Color #6: 93 95 94 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 43 Title: 20 60 145

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63

Color #3: 255 102 0

Color #4: 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 44 Title: 20 60 145 Spirit Values and Fundamental Behaviors

Text: 93 95 94 . Transparency – I am open, honest and respectful with my communication. I speak up to share my ideas and build Color #1: trust by making my intentions clear. 20 60 145

. Collaboration Color #2: – I align my actions with others, so we work together to 117 178 63 achieve the best outcome in everything we do.

Color #3: . Inspiration 255 102 0 – I encourage the best from others, and I lead by example to ensure innovation is a component of our success. Color #4: 0 176 240

Customer On-Time Color #5: Focused Delivery 247 182 63 Trusted

Quality Safety Partner Color #6: 93 95 94 45 Title: 20 60 145 Agenda

Text: 93 95 94 . 8:00am – 9:00am Breakfast

Color #6: 93 95 94 46 Title: 20 60 145

Text: 93 95 94 2017 Spirit Investor Day

Color #1: 20 60 145

Color #2: Sanjay Kapoor 117 178 63 EVP & Chief Financial Officer Color #3: 255 102 0

Color #4: 0 176 240 September 27, 2017 Color #5: 247 182 63

Color #6: 93 95 94 Title: 20 60 145 We Have Achieved Win-Win Outcomes

Text: 93 95 94

Color #1: 20 60 145

Color #2: 117 178 63 2014 2014 2016 Today

Color #3: Interim Sale to Global Collective 255 102 0 Agreement Triumph Settlement Resolution

Color #4: 0 176 240 Securing our future Substantially de-risked business Color #5: Enabled production rate increases 247 182 63 Created a collaborative environment

Color #6: 93 95 94 48 Title: 20 60 145 Healthy Backlog Supports Higher Rates

Text: 93 95 94 shipsets Spirit Deliveries 1800 Defense, Other* Color #1: 1200 20 60 145 Airbus

600 Color #2: Boeing 117 178 63 0 2012 2013 2014 2015 2016 2017E Color #3: 255 102 0 2006 Backlog 2Q17 Backlog Other Other B787 B787 Color #4: 0 176 240 B747 A350 B737 B737 A320 Color #5: A320 247 182 63 B777 B777 $29B $46B

Color #6: *Excludes revenue from Gulfstream programs, see appendix for details 93 95 94 49 Title: 20 60 145 Maintain Growth In-Line with Projected Deliveries

($ billions) Text: 93 95 94 . Revenue and deliveries have grown at ~6% CAGR over the last 5 years Color #1: 20 60 145

Color #2: 117 178 63 $6.8 – $6.9 $6.6 $6.6 $6.8 $5.8 $5.2 . Airbus Color #3: . Boeing 255 102 0 . Defense . Fabrication

Color #4: 2012* 2013* 2014* 2015 2016 2017E Near-term 0 176 240 Guidance Above in-line in-line in-line in-line

Color #5: Deliveries 1,220* 1,342* 1,455* 1,454 1,583 247 182 63

*Excludes revenue/deliveries on Gulfstream programs, see appendix for details. Color #6: 93 95 94 50 Title: 20 60 145 Sales to Airbus & Defense Has Increased

($ billions) Text: 93 95 94 $6.8 - $6.9 $6.6 $6.6 $6.8 $5.8 Color #1: $5.2 20 60 145 Defense, Other1 Airbus

Color #2: 117 178 63 Boeing2 87% 81%

Color #3: 255 102 0 2012 2013 2014 2015 2016 2017E 3

Color #4: 0 176 240

Color #5: 247 182 63

1 Excludes revenue from Gulfstream programs, see appendix for details 2 Includes revenue from P-8 and KC-46 Tanker 3 2017E extrapolated from Q2 2017 customer percentage of revenue and applied to 2017 SPR guidance Color #6: 93 95 94 51 Title: 20 60 145 Transition from New to Maturing Programs

(Sales, $ billions) Text: 93 95 94

Color #1: $6.8 $6.8 - $6.9 20 60 145 $6.6 $6.6 $5.8 $5.2 Color #2: 117 178 63 Wing1

Propulsion Color #3: 255 102 0 Fuselage

Color #4: 2012 2013 2014 2015 2016 2017E 2 0 176 240

Revenue related to zero-margin programs Color #5: 247 182 63

1 Excludes revenue from Gulfstream programs, see appendix for details 2 2017E extrapolated from Q2 2017 segment percentage of revenue and applied to 2017 SPR guidance Color #6: 93 95 94 52 Title: 20 60 145 Adjusted Free Cash Flow Conversion has Improved

($ millions) Text: Adjusted FCF* % of Revenue 93 95 94 Adjusted FCF*

Color #1: 20 60 145

$600 7% - 8% 7-9%

Color #2: 6% 117 178 63 $400 4% 5%

$200 Color #3: 1% 255 102 0 (1%) (2%) $-

(2%) Color #4: $(200) (3%) 0 176 240 (4%) (6%) (6%) $(400) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Near-term Color #5: Guidance 247 182 63

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 53 Title: 20 60 145 Invested in the Business to Support Growth

(CapEx, $ millions) Text: 93 95 94 $360

Color #1: $250 - $300 20 60 145 $254 $236 $234 $220 Near-term $250 - $300 . Maintenance Color #2: . New Programs 117 178 63 . Capacity Expansion . Defense Color #3: 255 102 0 1 2012 2013 2014 2015 2016 2017E

1 Additional CapEx to prepare for rate increases funded by customer Color #4: 0 176 240 Anticipated Future Investments: . 5-Axis Center of Excellence: $15 M - $20 M Color #5: . 4-Axis Center of Excellence: $20 M - $25 M 247 182 63 . Malaysian Facility Expansion: >$5 M . Upgrade Automated Fasteners (Brotje) Machines: ~$20 M . Investments for Rate Increases (737, 787, A350) Color #6: 93 95 94 54 Title: 20 60 145 Increasing R&D Investments

Text: 93 95 94 . Productivity . New business Color #1: . Next gen structures 20 60 145

Color #2: 117 178 63 % of sales Externally Funded Color #3: 255 102 0

Color #4: 0 176 240 Internally Funded

Color #5: 247 182 63 2013 2014 2015 2016 2017E 2020E

Color #6: 93 95 94 55 Title: 20 60 145 Relentless Focus on Supply Chain Cost

Text: 93 95 94

Direct Color #1: Overhead Labor 20 60 145 Indirect Labor Raw Material Depreciation Color #2: Supply Chain 117 178 63 SG&A and R&D

Purchased Parts Color #3: 255 102 0

Color #4: 0 176 240 Cost reduction addressable via Spirit initiatives . Supplier count reduction Color #5: . Clean sheet process based procurement cost reduction 247 182 63 . Make/buy and make/where analysis

Color #6: 93 95 94 56 Title: 20 60 145 Increased Productivity

Text: 93 95 94 16,500 9% Deliveries / CAGR Employees 110 Color #1: 14,400 1,000 employees 20 60 145 77

Color #2: Deliveries 117 178 63 1,271 1,583

2012 2016 2012 2016 Color #3: 255 102 0 SG&A % of Deliveries / Sales 10,000 sq. ft. 10 3.2% 3.1% Color #4: 8 0 176 240

Color #5: 247 182 63

2012 2016 2012 2016

Color #6: 93 95 94 57 Title: 20 60 145 Optimize Make / Where Strategy

Text: 93 95 94 WICHITA TULSA/MCALESTER SAINT-NAZAIRE KINSTON PRESTWICK SUBANG KANSAS OKLAHOMA FRANCE NORTH CAROLINA SCOTLAND MALAYSIA Color #1: 20 60 145

Color #2: 117 178 63 $$$ $$ $

Site fully burdened rates in descending order Color #3: 255 102 0

. Centralization of functions Color #4: 0 176 240 . Overhead reduction . Malaysia expansion Color #5: . Centers of excellence 247 182 63

~15,000 Employees across 15M square feet of facilities Color #6: 93 95 94 58 Title: 20 60 145 Stock Price Remains Discounted / Deployed Capital Effectively

($ millions) Text: 93 95 94 Shares Cumulative shares outstanding repurchased $1,600 Color #1: 140 20 60 145 $1,200

120 $800 Color #2: 117 178 63 100 $400

Color #3: 80 $0 2012 2013 2014 2015 2016 Q2 2017 255 102 0 Program Repurchases

Color #4: 2014 Secondary Offering $129 . Remaining repurchase 1 0 176 240 2015 Program $300 authorization of $792 million

2016 Program $650 . Initiated quarterly dividend of 2017 Program1 $208 Color #5: $0.10 per share in Q4 2016 247 182 63 Total $1,287

1 Balances as of June 29, 2017 Color #6: 93 95 94 59 Title: 20 60 145 Continued Commitment to Growth and Cash

($ millions) Text: Internal Target 93 95 94 ~5% Goal $6,800 – $6,900 Color #1: 3% - 5% Free Cash Flow* $500 - $550 20 60 145

Sales Internal target: ~10% Color #2: 117 178 63 FCF*, % of Sales Goal: 7% - 9% of sales

2017E Near-term Color #3: 255 102 0 . Customer announced rates . Productivity initiatives – B737: 52 APM in 2018, 57 APM in 2019 – Supply chain Color #4: – B777: currently 5 APM – Overhead 0 176 240 – B787: currently 12 APM, 14 APM in 2019 . CapEx for rate increases – A320: 60 APM by 2019

– A350:10 APM in 2018 Color #5: 247 182 63 . Defense initiatives . Pricing step-downs . Excludes M&A Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 60 Title: 20 60 145 Implications of New Revenue Standard (ASC 606)

Text: 93 95 94 . Implementation date 1/1/2018

Color #1: . No anticipated impact to cash flow 20 60 145 . No contract blocks Color #2: 117 178 63 . Contract durations are shortened

Color #3: . No deferred production costs 255 102 0 . Revenue pattern and gross margins may be impacted Color #4: 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 61 Title: 20 60 145 Agenda

Text: 93 95 94 . 8:00am – 9:00am Breakfast

Color #6: 93 95 94 62 Title: 20 60 145 Strategic Summary

. Optimize Manufacturing Footprint & Capabilities Color #3: . Expand Airbus Content 255 102 0 . Execute R&D Roadmap

. Build 3rd Party Fabrication Business . Digitize the Shop Floor Color #4: 0 176 240 . Drive Continuous Cost Improvement

. Grow Defense Business . Build & Develop Talent Color #5: 247 182 63 Metrics: Organic Revenue Growth, Margin Expansion, 7-9% Free Cash Flow*, Total Shareholder Return

Color #6: * Non-GAAP measure, see appendix for reconciliations 93 95 94 63 Title: 20 60 145 Appendix: Non-GAAP Measure Disclosure Management believes the non-GAAP (Generally Accepted Accounting Principles) measures used in this report provide investors with important perspectives into the company’s ongoing business performance. The company does not intend for the information to be considered in isolation or as a substitute for the related Text: GAAP measure. Other companies may define the measure differently. 93 95 94 Free Cash Flow (FCF) is defined as GAAP cash provided by operating activities (cash flow from operations), less capital expenditures for property, plant and equipment additions. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing Color #1: debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity.

20 60 145 Management considers special items, which may include termination charges, settlement charges and other items that arise from time to time, to be outside the ordinary course of our operations. Management believes that excluding these items provides a better understanding of the underlying trends in the company’s operating performance and allows more accurate comparisons of the company’s operating results to historical performance. Accordingly, Adjusted Free Cash Flow is defined as free cash flow less these special items. Color #2: 117 178 63 Free Cash Flow ($ in millions)

2017 Color #3: 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Guidance 255 102 0 Cash Provided by Operating Activities $ 272.0 $ 180.1 $ 210.7 $ (13.9) $ 125.1 $ (47.3) $ 544.4 $ 260.6 $ 361.6 $ 1,290.0 $ 717.0 $ 800.0 Capital Expenditures (343.2) (288.2) (235.8) (228.2) (288.1) (249.7) (249.0) (272.6) (220.2) (360.0) (254.0) (275.0) Free Cash Flow (71.2) (108.1) (25.1) (242.1) (163.0) (297.0) 295.4 (12.0) 141.4 930.0 463.0 525.0 Net A350 Customer Advances ------(246.3) - - - - - Severe Weather Impact ------(133.3) 68.7 - - - - Color #4: Cash Transferred on Gulfstream Divestiture ------160.0 - - - 0 176 240 One-time benefit items including Gulfstream Tax Benefit, GD Settlement, and 787 Advance Repayments ------(413.0) - - Cash Received under 787 Interim Pricing Agreement ------(192.0) (43.0) - Color #5: Adjusted Free Cash Flow $ (71.2) $ (108.1) $ (25.1) $ (242.1) $ (163.0) $ (297.0) $ (84.2) $ 56.7 $ 301.4 $ 325.0 $ 420.0 $ 525.0 247 182 63

Color #6: 93 95 94 64 Title: 20 60 145 Appendix: Gulfstream Adjustment Detail

Text: 93 95 94

Color #1: 20 60 145 Divested Program Detail ($ in millions) Color #2: 117 178 63 2012 2013 2014 Gulfstream Revenue $ 165.1 $ 138.6 $ 228.7 Color #3: 255 102 0 Gulfstream Shipset Deliveries 51 56 90

Color #4: In December 2014, Spirit divested the Gulfstream programs. 0 176 240

Color #5: 247 182 63

Color #6: 93 95 94 65