Barnes : Fourth Quarter 2023 Earnings Release Supplement

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Financial Reporting Note

The Company is introducing adjusted EBITDA metrics

to its financial reporting and outlook

Management believes adjusted EBITDA metrics are a useful measure to evaluate the operating performance and cash generation of the overall business and segments following the MB Aerospace acquisition

Safe Harbor Statement and Non-GAAP Measures

THIS PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements often address our expected future operating and financial performance and financial condition, and often contain words such as "anticipate," "believe," "expect," "plan," "estimate," "project," "continue," "will," "should," "may," and similar terms. These forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that may cause actual results to differ materially from those

expressed in the forward-looking statements. These risks and uncertainties include, among others: the Company's ability to manage economic, business and geopolitical conditions, including rising interest

rates, global price inflation and shortages impacting the availability of materials; the duration and severity of unforeseen events such as an epidemic or a pandemic, including their impacts across our business on demand, supply chains, operations and liquidity; failure to successfully negotiate collective bargaining agreements or potential strikes, work stoppages or other similar events; changes in market demand for our products and services; rapid technological and market change; the ability to protect and avoid infringing upon intellectual property rights; challenges associated with the introduction or development of new products or transfer of work; higher risks in global operations and markets; the impact of intense competition; the physical and operational risks from natural disasters, severe weather events, and climate change which may limit accessibility to sufficient water resources, outbreaks of contagious diseases and other adverse public health developments; acts of war, terrorism and other international conflicts; the failure to achieve anticipated cost savings and benefits associated with workforce reductions and restructuring actions; currency fluctuations and foreign currency exposure; impacts from goodwill impairment and related charges; our dependence upon revenues and earnings from a small number of significant customers; a major loss of customers; inability to realize expected sales or profits from existing backlog due to a range of factors, including changes in customer sourcing decisions, material changes, production schedules and volumes of specific programs; the impact of government budget and funding decisions; our ability to successfully integrate and achieve anticipated synergies associated with recently announced and future acquisitions, including the acquisition of MB Aerospace; government-imposed sanctions, tariffs, trade agreements and trade policies; changes or uncertainties in laws, regulations, rates, policies or interpretations that impact the Company's business operations or tax status, including those that address climate change, environmental, health and safety matters, and the materials processed by our products or their end markets; fluctuations in the pricing or availability of raw materials, freight, transportation, energy, utilities and other items required by our operations; labor shortages or other business interruptions at transportation centers, shipping ports, our suppliers' facilities or our facilities; disruptions in information technology systems, including as a result of cybersecurity attacks or data security breaches; the ability to hire and retain senior management and qualified personnel; the continuing impact of prior acquisitions and divestitures, and any ongoing and future strategic actions, and our ability to achieve the financial and operational targets set in connection with any such actions; the ability to achieve social and environmental performance goals; the outcome of pending and future litigation and governmental proceedings; the impact of actual, potential or alleged defects or failures of our products or third-party products within which our products are integrated, including product liabilities, product recall costs and uninsured claims; future repurchases of common stock; future levels of indebtedness; the impact of shareholder activism; and other risks and uncertainties described in documents filed with or furnished to the Securities and Exchange Commission ("SEC") by the Company, including, among others, those in the Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors sections of the Company's filings. The Company assumes no obligation to update its forward-looking statements.

NON-GAAP MEASURES

References to adjusted financial results for 2022, and 2023 are non-GAAP measures. You will find a reconciliation table on our website as part of our Fourth Quarter and Full Year 2023 press release and in the Forms 8-K submitted to the SEC. This supplement should be read in conjunction with this reconciliation table.

1. Organic sales growth represents the total reported sales increase within the Company's ongoing business less the impact of foreign currency translation and acquisition and divestitures completed in the preceding twelve months.

Delivered Meaningfully on Our Strategic Priorities in 2023

Execute Core Business

• Focusing on top line, bottom line, and pipeline growth
• Strengthening direct connections with customers
• Leveraging opportunities using commercial excellence and operational productivity
• Funding future pipeline investment and increasing sales funnel

Delivered Meaningfully on Our Strategic Priorities in 2023

Scale Aerospace

• Acquired MB Aerospace; largest transaction in
  Barnes' history
• Shifting portfolio to higher-growth, higher- margin, value-driven business
• Expanding geographic reach, deepening customer relationships and providing diverse capabilities with differentiated service offerings
• Positioning Barnes as a more attractive and important strategic partner

Delivered Meaningfully on Our Strategic Priorities in 2023

Integrate, Consolidate, and

Rationalize Industrial

• Formed Business Transformation Office (BTO) to enable a more agile, responsive organization
• Advanced manufacturing footprint rationalization with plant closures
• Reorganized Molding Solutions structure to integrate and streamline business globally

• Announced divestiture of Associated Spring and Hänggi businesses; exiting automotive components manufacturing(1)

Strategic Portfolio Transformation

Shifting to a Focused and Value-Driven Business

30%

70%

MB Aerospace Update

Closed August 2023

Barnes Aerospace - Important Strategic Partner Representing and Influencing Customers' Needs

Fourth Quarter 2023 Earnings Release Supplement 10