Carlisle Companies Earnings Callp g2nd Quarter June 30, 2011

Forward Looking Statements

During the course of this presentation we may make projections or other

g

During the course of this presentation, we may make projections or otherforward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995.

We wish to caution you that such statements reflect only our currentexpectations, and that actual events or results may differ materially dueto changes in global economic business competitive market andto changes in global economic, business, competitive, market andregulatory factors.

More detailed information about these factors is contained in thedocuments that the Company files from time to time with the Securitiesand Exchange Commission. We undertake no obligation to update suchprojections or such forward-looking statements in the future.projections or such forward looking statements in the future.

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Highlights of Q2 2011 Net sales up 27% Organic up 14%

g g Q

Financial Summary Organic up 14% Growth led by Brake & Friction,

Construction Materials and Interconnect Technologies

In Millions, except per share amounts Q2 '11 Q2 '10 ∆

Net Sales 870.8$ 687.6$ 27%

Earnings Before Interest andTechnologies $84 million from Hawk acquisition, 12%

EBIT Margin of 9.8%, up 50 bpsM i f H k 18 7%

Earnings Before Interest and Income Taxes (EBIT) 85.4 64.0 33%

EBIT Margin 9.8% 9.3% 50 bps

Income from Continuing Operations, Net of Tax 55.3 38.8 43%

Margin for Hawk was 18.7% Continued earnings pressure from raw

material increases

Continuing Operations Diluted Earnings per Share 0.87$ 0.62$ 40%

Continuing Operations EPS of $0.87, up 40%

Announced agreement to acquire PDT in Announced agreement to acquire PDT in Germany

Continued sales and earnings improvement despite raw material impact

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Outstanding performance from Hawk / Brake & Friction segment

Sales Bridgeg

$870.8900

1,000Organic +14.1%

+12.1% +0.4%

Volume +9.8%

$687.6700

800

 Millions +4.3%

500

600$ in

Organic by SegmentConstruction 19%Transportation 6%Brake & Friction 33%Interconnect 15%

300

400

' i l / h / '

Interconnect 15%FoodService 3%

Q2 '10 Price Volume / Oth Acq F/X Q2 '11

27% Sales Growth: 14% Organic, 12% Acquisition

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Margin Bridgeg g

Q2 '10 RawMat Price Volume COS Acq Other Op Q2 '11

9.8%9.3%0.9%

‐4.6%10.0%

12.0%Q2 10 Raw Mat Price Volume COS Acq Other Op Q2 11

‐1.6%0.9%

1.1%

1.5%

3.2%

6 0%

8.0%

argi

n

4.0%

6.0%

EBIT

M

EBIT $64 0 Million EBIT $85 4 Million0.0%

2.0%

Hawk acquisition continues to add marginff COS

EBIT - $64.0 Million EBIT - $85.4 Million33%

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Raw material increases offset by volume, price and COS

C li l C t ti M t i lCarlisle Construction MaterialsQ2 2011 Results

19% sales growth

Reroofing demand still high

Selling price added 2 5%$345.8

$412.0

40.0%

45.0%

50.0%

$350

$400

$45019%

Selling price added 2.5%

EBIT increased 6% from $51.3M in 2010 to $54.2M in 2011

25.0%

30.0%

35.0%

$250

$300

$350

Mill

ions

Negative $19 million impact from raw materials over prior year

35% increase in EPDM Rubber14.8%

13.2%

10 0%

15.0%

20.0%

25.0%

$100

$150

$200

$ in

M

24% increase in Carbon Black

10% increase in TPO Resin

I t f t i l ti ll ff t b

0.0%

5.0%

10.0%

$0

$50

Q2 '10 Q2 '11 Impact of raw material partially offset by

organic growth and COS

Strong reroofing market

Sales Margin

6

g gSome selling price realization; Increases announced for Q3

Carlisle Transportation ProductsQ2 2011 Results

Sales growth of 6% Selling price increase of $18M, 9% Higher demand in Agriculture and $192.0 $204.3 3.5%

3.5%

$200

$250

6%

Power Sports Offset by lower demand in OPE and

Construction3 4%

3.4%$150

$200

illio

ns

EBIT margin unchanged Production inefficiencies at Jackson

offset savings from restructuring expense and plant consolidation

3.3% 3.3%

3 3%

3.3%

3.4%

$50

$100

$ in

Mi

expense and plant consolidation Raw material cost increases recovered by

selling price Natural Rubber up 44%

3.2%

3.3%

$0

$50

Q2 '10 Q2 '11

Continued raw material increases mitigated by selling price

Natural Rubber up 44% Synthetic Rubber up 52% Sales Margin

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New plant inefficiencies impacting results

Carlisle Brake & FrictionQ2 2011 Results

$119.4

$120

$140 Hawk contributed $83.5 million to Net

Sales and $15.6 million to EBIT 18 7% margin

$80

$100

$120

lions

18.7% margin Organic sales growth of 33% driven by

demand in global Agriculture, Construction and Mining

356%

$26.2

16.2%

$40

$60

$ in

MilConstruction and Mining

510 bps increase in EBIT margin Hawk driver of margin

improvement11.1%

$0

$20

Q2 '10 Q2 '11

improvement Demand conditions favorable due to

commodity prices and infrastructure growth in developing markets

Sales Hawk Margin

g p g

Record performance for Hawk and core braking business

8

p gOutlook continues to be favorable

Carlisle Interconnect TechnologiesQ2 2011 Results

Sales growth 15% 20% growth in Aerospace from legacy

Boeing programs and in-flight $62.4

$71.7

25.0%

30.0%

$70

$8015%

g p g gentertainment

8% growth in Military sales Boeing 787 program ramping up

16.3%

15 0%

20.0%

$40

$50

$60

illio

ns

g p g p g p

95% increase in EBIT and 670 bps margin improvement

9.6%

5 0%

10.0%

15.0%

$20

$30

$40

$ in

M

COS added 250 bps to margin

Plant consolidation and restructuring savings added 130 bps

0.0%

5.0%

$0

$10

Q2 '10 Q2 '11g pSales Margin

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Outstanding sales performance and EBIT leverage

C li l F dS i P d tCarlisle FoodService ProductsQ2 2011 Results

Sales growth 4% (organic growth 3%)

Selling price added 3%

Foodservice sales up 11%

$61.2 $63.4

25.0%

30.0%

$60

$704%

Foodservice sales up 11% overall despite flat industry trend

Healthcare sales down 9% 15.0%

20.0%

$40

$50

Mill

ions

EBIT margin decline from 10.3% to 8.4%

Selling price increases were

10.3%8.4%

5 0%

10.0%$20

$30

$ in

M

Selling price increases were more than offset by higher raw material and freight costs 0.0%

5.0%

$0

$10

Q2 '10 Q2 '11

Growth in foodservice market

Sales Margin

10

Higher raw material and freight costs mitigated by selling price

Strong Balance SheetgDebt Maturity Schedule

In millions

$369$400

$500

Available Under 

In millions

Cash on Hand of $99M

Revolving Credit Facility

$300

$400 Revolver at 6/30/11

Revolving Credit Facility availability of $369M

Acquisition of PDT in Germany for €80 to be funded with cash

$200Senior Notes $249M

for €80 to be funded with cash on hand and revolver

Debt to Cap ratio of 26%

LC, $31

Drawn, $100

$0

$100IRB & Other

Senior Notes $149M

$249M Debt to EBITDA of 1.5

$0

2012 2016 2018 2020

Well-positioned for further investment in acquisitions, new

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product development and capital expenditures

Cash Flow by Quartery Q

$40

$50

$20

$30

ions

$10

$0

$10

$ in

Mill

-$30

-$20

-$10

Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11

Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11

Operating Cash Flow Capital Expenditures Free Cash Flow

Cash flow impacted by sales growth; 81% global growth in Q2 with Hawk

Q2 10 Q3 10 Q4 10 Q1 11 Q2 11Operating Cash Flow $37.4 $41.9 $45.0 ($0.3) $14.0Capital Expenditures (23.2) (15.2) (17.8) (16.9) (16.9)Free Cash Flow 14.2 26.7 27.2 (17.2) (2.9)

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Cash flow impacted by sales growth; 81% global growth in Q2 with Hawk

Working Capital as a % of Net Sales32.0%

28.0%

30.0%

26.0%

24.0%

Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '1120.0%

22.0%

Working Capital reflects average of quarter ending Receivables plus Inventory less Accounts Payable. % of Net Sales calculated using average Working Capital over annualized year-to-date Net Sales.

M i ki it l hi h l l

Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11WC as a % of Net Sales 30.4% 26.4% 25.1% 24.9% 23.5% 21.4% 21.6% 22.0% 23.4% 21.7%

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Managing working capital on higher sales volume

Q & AQ

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Carlisle 2011 Outlook

Sales growth from Hawk & PDT acquisitions and segment Sales growth from Hawk & PDT acquisitions and segment organic growth totaling mid-twenty percent range

Continued margin improvement, primarily from Brake & Friction and Interconnect Technologies

Cash conversion expected to be greater than 100% for the year (Ratio of Free Cash Flow before Dividends to Net Income)( )

Corporate Expense - $41M

Depreciation & Amortization - $93M Depreciation & Amortization $93M

Interest Expense - $21M

Tax Rate – 33% Tax Rate – 33%

Capital Expenditures - $75M

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