John L. Garrison President & CEO

HELI-EXPO 2015

Bell Helicopter: State of the Business

Forward Looking Information

Certain statements in today’s discussion will be forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or project revenues, income, returns or other financial measures. These forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements.

These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the 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.

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Textron

Leading Branded Businesses

3

Cessna Aircraft

Beechcraft

Hawker

Textron Aviation

33%

Bell Helicopter

Bell Helicopter

31%

Specialized Vehicles

Tools & Test

Jacobsen

Kautex

Industrial

24%

Textron Financial

Finance

Weapon & Sensor Systems

Unmanned Systems

Marine & Land Systems

TRU Simulation + Training

Textron Systems

12%

2014 Revenue $13.9B

<1%

Strategic Priorities

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Grow our balanced business

Differentiate our products and services

Become more responsive and cost competitive – globally

Exhibit execution excellence

Executive Leadership Team

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John Garrison President & CEO

Matthew Hasik EVP Commercial Business

Robert Hastings EVP Communications

Catherine Kilmain EVP Engineering

Gunnar Kleveland EVP Integrated Operations

Barry Kohler EVP Customer Support & Svs

Mitchell Snyder EVP Military Business

Stephanie Soto EVP Human Resources

Alphonse Vetere EVP & CFO

Felipe Gumucio EVP Business Ventures & CLO

2014 financial performance

– Revenue: $4.2 billion

– NOP: $529 million

– Margin: 12.5%

2014 Performance Overview

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Commercial

USG62%

38%

2014 Revenue

Driving Cost Competitiveness

2012 2013 2014

Revenue ($M) $4,274 $4,511 $4,245

NOP ($M) $639 $573 $529

Headcount (YE)* 12,031 10,988 9,192

Revenue / Employee ($K)

$355 $411 $462

NOP / Employee ($K)

$53 $52 $58

* Peak Headcount: 12,124 (December 3, 2012)

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Industry Overview

• Industry faced headwinds in 2014

– Geopolitical unrest and global economic uncertainty

• Rotorcraft remains an attractive, growing global industry

• Near-term outlook

– Downward pressure and uncertainty with Department of Defense budgets continues

» Bell under contract for V-22 and H-1 deliveries

– Near term uncertainty but independent forecasts project growth of commercial rotorcraft market

Industry Forecast

Independent forecasts predict continued growth

Source: Forecast International, Teal Group, and Honeywell

900

1000

1100

1200

1300

1400

2015 2016 2017 2018 2019 2020

Turbine Rotorcraft Delivery 10 Year Forecast for All OEMs

Forecast Int'l (Mar 2015) Teal (Jan 2015) Honeywell (Mar 2014)

Military Business

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V-280 Valor

MQ-8C Fire Scout

MV-22

USMC Osprey

AH-1Y Venom AH-1Z Viper

CV-22

AFSOC Osprey

2014 Performance Overview

Military Business

• V-22 surpassed 250,000 flight hours

• Final MV-22 delivery to USMC Presidential Helicopter Squadron

• Successful V-22 forward firing and hot / high demonstrations

• V-280 Valor selected by U.S. Army for Joint Multi-Role Technology Demonstrator program

• Successful MQ-8C Fire Scout shipboard testing

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V-22 Osprey

• Deliveries as of December 2014

– 248 MV-22 to the USMC

– 45 CV-22 to AFSOC

– Delivered 37 in 2014

• Program of Record

– USMC 360 MV-22

– AFSOC 52 CV-22

– USN 48 V-22

• Executing MYP II

– 99 with options for 23 additional aircraft (2 exercised to date)

• Investing to expand capabilities

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“The most in-demand aircraft in the Marine Corps,” Lt. Gen. Jon Davis

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2013 2014 2015

V-22 Contract Deliveries

H-1 Venom & Viper

• Deliveries as of Dec 2014 – 108 UH-1Y

– 39 AH-1Z

– Delivered 24 in 2014

• Program of Record: 349 – 160 UH-1Y

– 37 AH-1Z Remanufacture

– 152 AH-1Z Build New

• UH-1Y deployed to Afghanistan and to MEUs since 2009

• Two squadrons operational with both UH-1Y and UH-1Z

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2013 2014 2015

H-1 Contract Deliveries

Military Business Development

• V-22 opportunities – USG

» US Navy » AFSOC

– International » Japan announced selection » Israel delayed » Pursuing other opportunities

• H-1 opportunities

– Opportunities focused in Middle East, Asia/Pacific and Eastern Europe

• Fire Scout opportunities

• Potential OH-58 FMS

• Bell V-280 Valor

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• Transformational capability

– Low speed helicopter agility combined with fixed-wing high speed performance

• Selected to build and fly within JMR-TD program

– Preliminary design complete; detailed design in process

– First flight anticipated in late 2017

• Building a team of industry leaders

V-280 Valor

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V-280 Valor

• Tyranny of Distance

Pivot to Pacific

Rota to Djibouti Equivalent to Anchorage to JAX

Expeditionary capability to address urgent needs

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Commercial Aircraft

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ADD SLS

Bell 206L4

Bell 412 Bell 429 Bell 407

Bell 525 Relentless Bell 505 Jet Ranger X

2014 Performance Overview

• Delivered 178 commercial helicopters

• Captured key international wins and increased segment position

– Canadian Coast Guard

– Philippine Department of National Defense

– Swedish National Police

• Continued to invest for the future and focus on solutions that meet our customers’ needs

– Personnel in region

– Local facilities

– Training operations

– New programs

» Bell 525 Relentless

» Bell 505 Jet Ranger X

– Product upgrades

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Bell 407

• Best selling, state-of-the-art helicopter

– Mexican Air Force order for 15

– Pennsylvania State Police Department

– SpanAir: first Bell 407GX to India

– Kings Casino: first Bell 407GX in Czech Republic

• New 407GXP delivers industry-leading performance, payload capability and operating economics

• 10 year agreement with Air Methods for 200 HEMS configured Bell 407GXP

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Bell 412

• Continued investment in modernization to enhance capabilities and increase customer value

• “In my opinion, there is not a medium twin-engine helicopter that represents faithful ‘start, run, do the work, get me home’ service better than the 412,” Guy R. Maher, Vertical

• Key wins

– Philippine Air Force

– PHI/Saudi Red Cross

– Nishi Nippon Airlines

– Chongqing General Aviation

– New South Wales Police Air Wing

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Bell 429

• 21st century standard for light twin helicopters

• Delivered 200th production aircraft in 2014

• Retractable Landing Gear option certified

• Rapidly becoming platform of choice for parapublic and HEMS missions

– Canadian Coast Guard

– Swedish National Police

– New York City Police Department

– Delaware State Police

– Georgia Department of Public Safety

– Puerto Rico Police Department

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Bell 525 Relentless

• Unparalleled situational awareness, enhanced safety and performance

• Continued strong progress toward first flight this spring

– Electrical power up of avionics and flight controls of first flight test vehicle

– Announced LOI with Abu Dhabi Aviation for purchase of 10 Bell 525

• Letter of agreement with Waypoint Leasing for 20 Bell 525s with options for additional aircraft

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Bell 505 Jet Ranger X

• JetRanger defined the short light single market

• Best combination of value, performance & features:

– Speed 125+, Range 360+, Useful load 1500+, HOGE 11,000+

– Turbomeca Arrius 2R engine with Dual Channel FADEC

– Fully-integrated Garmin G1000 flight display system

– Forward facing seating for five

– Fully-flat, configurable cabin floor for mission flexibility

• Signed 300+ letters of intent

• Successfully completed first flight on November 10, 2014

• Construction of Lafayette Assembly Center progressing

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Customer Support & Services

• Top ranked after-market support sets Bell Helicopter apart from the competition

– #1 customer support ranking for 21 consecutive years

• Largest support network in the industry – and growing

– More than 100 authorized customer service facilities in 34 countries

• Increasing capabilities in Prague and Singapore Service Centers

– Granted key certifications at both facilities

• Investing in solutions that meet our customers needs

– Growing customer demand for training and simulation

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Customer Support & Services

• New state-of-the-art Bell Training Academy in Fort Worth, Texas opening this summer

• Bell Helicopter Training Center in Valencia, Spain opening in 2016

– Received EASA Approved Training Organization Certification

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Summary

• 2014

– Increased position in marketplace despite industry headwinds

– Delivered strong military program performance

– Introduced successful product upgrades

– Made significant advancements on all three new programs

• 2015

– Continuing to deliver military on schedule and budget

– Expanding international military and commercial sales

– Continued investment in products and services

• Long-term outlook

– Attractive commercial growth driven by new products and market growth

– Defense budgets uncertain but with opportunity both domestically and internationally

– Well-positioned for the future

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Investing to win

Questions?

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Forward-Looking Information Certain statements in this presentation and other oral and written statements made by us from time to time are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures, often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “guidance,” “project,” “target,” “potential,” “will,” “should,” “could,” “likely” or “may” and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. In addition to those factors described under “RISK FACTORS” in our Annual Report on Form 10-K, among the factors that could cause actual results to differ materially from past and projected future results are the following: interruptions in the U.S. Government’s ability to fund its activities and/or pay its obligations; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries; our Finance segment’s ability to maintain portfolio credit quality or to realize full value of receivables; performance issues with key suppliers or subcontractors; legislative or regulatory actions, both domestic and foreign, impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; pension plan assumptions and future contributions; continued demand softness or volatility in the markets in which we do business; difficulty or unanticipated expenses in connection with integrating acquired businesses; and the risk that anticipated synergies and opportunities as a result of acquisitions will not be realized or the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue and profit projections.

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