April 2026 Investor Presentation (04/22/2026 00: 00

Published: 2026-04-23 10:34:09 ET HXL

Published on 04/23/2026 at 10:34 am EDT

April 2026

COMMERCIAL AEROSPACE

62%*

Wings, Fuselage & Empennage Secondary & Interior structures Engines & Nacelles

⬣ Leader in markets undergoing secular growth

⬣ Broadest aerospace composite solution portfolio

⬣ #1 in aerospace composites - by sales & production capacity

⬣ 19 manufacturing plants | 5,563 employees at 31-Dec-2025

⬣ High and numerous barriers to entry

DEFENSE, SPACE & OTHER

38%*

Rotorcraft & Fixed Wing Launchers & Satellites Automotive & Recreation

⬣ Culture of continuous improvement | Operational Excellence

Markets

Composite Lightweighting

value proposition

Stronger and lighter than metals

Superior life cycle costs to metals

Reduces fuel use and emissions for transportation applications

Enables leading-edge product design

LTM* SALES | $1.9 billion

* Last 12 months through March 31, 202c

ADVANCED COMPOSITES LEADERSHIP

Leading, sole source positions in key

markets with high barriers to entry

Exceptional & long-term customer relationships

Benefitting from cyclical and secular growth

Innovative solutions that lead to sustainable

competitive advantage

Our Hexcel Purpose

Strong cash generation

COMPOSITES PENETRATION & GROWTH

Continued secular penetration with each succeeding new aircraft platform

Fleet Replacement of legacy metal aircraft

Composite-rich aircraft (i.e. A350 & 787) are less than 7% of total global commercial fleet

30%+

787

50%+

Intermediate Modulus (IM) Carbon Fiber Prepregs 2010s

Fuselage & Wings

A350

60%+ ?

HS, IM, Thermoplastics

2030s

Further metal substitution

Next-gen Narrowbody

Intermediate Modulus (IM) Carbon Fiber Prepregs 2010s+

Wings

~10%

High Strength (HS) Carbon Fiber Prepregs 1990s - 2000s

Flaps/Ailerons, Landing gear doors

~15%

Intermediate Modulus (IM) Carbon Fiber Prepregs 2000s - 2010s

Engines & Nacelles

777X A220

~5%

Glass Prepregs

1970s - 1980s

Interior secondary structure

737

A310

767

A320

A330 777

A320

neo

737

MAX

A330

neo

Select Hexcel Shipsets

$4.5 - $5.0 million: A350 / A350F

$1.0 - $2.0 million: 787, A330neo, and 777/777X

$0.2 - $0.5 million: A320neo, 737 MAX, A220 and

Large-cabin composite biz jets

Broad aerospace composites product line from carbon fibers, reinforcement fabrics, and resins to prepregs, honeycomb core, tooling materials and more . . . from raw materials to fly-away parts . . . Vertical Integration is a strength and a differentiator

CARBON FIBER

Aerospace-Grade

WOVEN REINFORCEMENTS

RESIN

SYSTEMS

CARBON FIBER PREPREG s TAPES

PAN

Polyacrylonitrile precursor

Carbon Fiber

High modulus (high-performance applications)

Intermediate modulus (e.g. wings, fuselage, engines)

High strength (secondary structures)

Leading aerospace weaver globally. Produce non-crimp fabrics.

Maximizing strength, toughness and structural performance

Woven or uni-directional carbon fiber that is pre-impregnated with resin

HONEYCOMB / ENGINEERED CORE

ENGINEERED PRODUCTS

Stronger | stiffer | lightweight | fatigue resistant | corrosion resistant vs. metal

Extensive variety of sizes. Value-add with noise reduction and coatings options. Sell in blocks/slices or engineered shapes.

Structural assemblies using prepreg and shaped Core for

engine nacelles, helicopter blades, flaps, ailerons and more

WE DELIVER WHAT OUR CUSTOMERS WANT

Lighter yet stronger than any comparable material in the world,

Hexcel advanced composites are turning the dream of cleaner, efficient, and more sustainable flight and transportation into reality today.

Carbon fiber is 5x stronger and 30% lighter than aluminum

Composites are tougher, stiffer and more durable than metal

Weight / Density

Our products offer lower lifecycle cost - operating & maintenance costs

Our products enable more aggressive and efficient aerodynamic designs that improve aircraft performance & fuel efficiency

Improved fuel efficiency from composite lightweighting and advanced aerodynamic designs leads to lower emissions

Stronger, lighter & tougher - optimizing total life cycle costs

62%

Commercial Aircraft | Engines/Nacelles | Business Jets & Regional Aircraft

$1,068

$912

$668

2021

2022

2023

2024

2025

LTM Q1 2026

⬣ Near-Term: Growing back into existing capacity

⬣ Mid-Term: Expanding composites secular penetration

⬣ Strong multi-year OE backlog supports growth

⬣ Need for fuel efficiency and emissions reduction driving aircraft replacement cycle

⬣ Strong market position with Engines and Nacelles

Sales

$ millions

$1,194

$1,147

$1,200

⬣ Business Jet composite adoption increasing

Airbus & Boeing Other Commercial Aerospace

Sales by platform at full production rate

A350

Platform OEM publicly-disclosed peak rates

Widebodies pull significant amounts of composite material due to the large size of the aircraft

High production volume for narrowbodies & engines leads to significant composite material demand

A350F

$4.5-$5.0

million s.s.

Hexcel shipset

USD thousands

777X

787

A330neo

A220

737 MAX

A350 / A350F

A320neo

787

737 MAX

A330neo

A220

A320neo

12/mo. in 2028

75/mo. in 2027

10/mo. in 2026 52/mo.

5/mo. in 2029

13/mo. in 2028

Bubble size indicates magnitude of annual Hexcel sales at peak

production rates as stated by OEM's

Production Rates (mo.)

Strong and growing Commercial Aerospace foundation underpins growth outlook

COMMERCIAL AEROSPACE GROWTH DRIVERS

⬣ Combined Airbus & Boeing backlogs are

>15,000 commercial aircraft - represents

$11 billion of future sales to Hexcel

Narrowbody backlog: 12,726 aircraft

Widebody backlog: 3,038 aircraft

As of 31-Mar-2026

⬣ Commercial aircraft deliveries accelerating as supply chain constraints ease

⬣ Business jet composite adoption increasing

⬣ Strong market position engines & nacelles

⬣ Secular growth remains a tailwind from composites value proposition

* Analyst consensus delivery estimates for Airbus and Boeing, per Bloomberg as of 22-April-202c

Accelerating commercial aircraft production & deliveries support Hexcel sales growth

38%

⬣ Major programs: F-35, CH-53K, A400M, Black Hawk, European

fighters, Rotorcraft blades (both new build & replacement)

⬣ Active on >100 different programs globally

⬣ ~1/3 of D&S sales are international

⬣ Rotorcraft are ~40% of D&S sales

Select Hexcel Defense Shipsets

$2.5 - $3.5 million: Sikorsky CH-53K

$1.0 - $2.0 million: Airbus A400M, Bell Boeing V-22

$0.5 - $1.0 million: Lockheed F-35, Dassault Rafale, Embraer C-390

$0.2 - $0.5 million: Sikorsky Black Hawk, Eurofighter Typhoon

⬣ Capabilities with honeycomb & microwave absorbing

composites are competitive differentiators

⬣ Expanding opportunities with Space sector

⬣ Select Industrial opportunities using aerospace composites

$657

$666

Sales

$ millions

$721 $709 $747

2021

2022

2023

2024

2025

LTM Q1 2026

$739

6th generation fighter programs in U.S. (NGAD, F/A-XX, CCA) and Europe (FCAS C GCAP) that include Fighters, Drones C Satellites

Next-generation rotorcraft / MV-75

Next-generation tankers

Unmanned drone programs

FUTURE PROGRAMS enabled by composites

to optimize performance, range and stealth

Composite content on modern military & space platforms is maximized to enhance performance and extend range and payload

FULL ADOPTION

Hexcel composites used extensively

GROWING ADOPTION

Selective Hexcel composite adoption

Sikorsky CH-53K: 2020s Fuselage, blades, cargo ramp, sponsons

Lockheed F-35: 2010s Wings & fuselage

Apollo 11: 1969 Landing pads

EARLY DAYS

Composite adoption beginning

Sikorsky Black Hawk: Upgraded 2000s Blades, aft structure, doors

Boeing F-15: 1970s Flaps, landing gear doors

Airbus A400: 2000s Wings

Launchers & Satellites Fairings, structures, rocket motors, landing legs

Boeing C-17: 1990s

Tail structure

Eurofighter Typhoon: 2000s

Canards, radome

Photo above left ©Sandboxx Photo above right ©JetZero

SALES & PROFITABILITY

INCOME

ADJUSTED DILUTED EPS

RETURN ON INVESTED CAPITAL

$ millions, except EPS

CASH GENERATION

$ millions

SALES

ADJUSTED OPERATING

ADJUSTED EBITDA

(Earnings Before Interest, Taxes,

Depreciation & Amortization)

CAPITAL EXPENDITURES

(Accrued)

MARGINS

FREE CASH FLOW

2026 GUIDANCE

Sales

Strong OE backlogs and production targets support

multi-year sales growth

Sales

$2.0 - $2.1 billion

EPS

Operating leverage to drive EPS growth

Adjusted Diluted EPS

$2.10 - $2.30 per share

Free Cash Flow

Greater than $195 million

Free cash flow

Increasing OE production rates and existing capacity enabling low cap-ex generate compelling, multi-year free cash flow profile

Capital Expenditures

Less than $100 million

Effective Tax Rate

20%

Entering a multi-year period of strong cash generation

Investing in Innovation | Achieving Operational Excellence | Strong Investment Fundamentals

Leader in Aerospace & Defense

Lightweighting

Innovation Operational Excellence

Disciplined Financial Management

Unrivaled product portfolio High barriers-to-entry Sole-source positions

Increase range

Improve fuel efficiency

Reduce CO2 emissions

Thought leader in lightweight materials

Positioned for next-

generation aircraft

Driving productivity via:

Continuous improvement

Digitization

Expanding cash generation

Target Debt/EBITDA:

<2X

Secular growth supported by Innovation | High barriers to entry | Proven execution

APPENDIX

PRIMARY STRUCTURES

SECONDARY STRUCTURES

INTERIOR STRUCTURES

•

Latest generation widebodies are

>50% composites

>60% on future platforms via

continued secular adoption

Continuing secular growth opportunities

Engines & nacelles are an attractive market

Continuing secular growth opportunities with next-generation engines

Fan Cowl

Acoustic Lining Panels Outlet Guide Vane

Nacelle Cowling

Thrust Reverser

Fan Spacers

Nose Cone

Fan Blades

Inlet Cowl

Fan Containment Case

Large-cabin business jet composite adoption is particularly strong for performance and lightweighting

Composite Winglets

Composite Wings Including flaps, ailerons and trailing edge

Vertical & Horizontal Stabilators

Radomes

Engine Nacelles

Landing

Gear Doors

Belly Fairing

Bulkheads, Flooring, Ducts and other Internal Components

Secular Penetration in Rotorcraft

Replacement blades provide recurring business based on fleet utilization

Black Hawk

V-22

Beginning: CH-53K

Pilot Cabin

Blades

Seven main blades; Tail rotor blades

Fuselage Structure Carbon Fiber, Prepregs, Aerostructures

Sponsons

Engine Nacelles

Aft Transition & Tail Rotor Pylon

Cargo Ramp

Disclaimer

Hexcel Corporation published this content on April 23, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2026 at 14:33 UTC.