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4th   Quarter 2011
February 2, 2012
Forward Looking Statements
  During the course of this presentation, we may make projections or other
  forward-looking statements within the meaning of the Private Securities
  Litigation Reform Act of 1995.

  We wish to caution you that such statements reflect only our current
  expectations, and that actual events or results may differ materially due
  to changes in global economic, business, competitive, market and
  regulatory factors.

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




                                                                              2
Highlights of Q4 2011
   Net sales up 26%                             Financial Summary
       Organic sales up 13%                     In Millions, except per share amounts       Q4 '11         Q4 '10     ∆
       Continued solid growth at Brake &        Net Sales                               $      789.6   $     626.9      26%
        Friction, Construction Materials and     Earnings Before Interest and
        Interconnect Technologies                Income Taxes (EBIT)                             52.7          26.8      97%

       $81M, or 13%, in sales from Hawk,        EBIT Margin                                     6.7%          4.3%   240 bps
        PDT & Tri-Star acquisitions              Income from Continuing
                                                 Operations, Net of Tax                          39.5          21.9      80%
   EBIT Margin of 6.7%
                                                 Continuing Operations Diluted
       Selling Price / Raw Material parity at   Earnings per Share                      $       0.63   $      0.35      80%
        CCM
       Positive impact on EBIT margin from
        Hawk acquisition
       Charges for Acquisitions of $4.2M in
        Q4 ‘11 versus $14.2M in Q4 ‘10 for
        Hawk
   Acquired Tri-Star on December 2, 2011

                              Strong sales and earnings improvement
                                                                                                                           3
Sales Bridge
                 1,000

                                      Organic +13.1%
                  900

                                                                 +12.9%           0%        $789.6
                  800
 $ in Millions




                                   +6.8%          +6.3%
                  700
                          $626.9
                                                              Organic by Segment
                  600                                         Construction     18%
                                                              Transportation     5%
                                                              Brake & Friction 15%
                  500                                         Interconnect     20%
                                                              FoodService      -5%

                  400


                  300
                          Q4 '10    Price      Volume / Oth         Acq               F/X   Q4 '11



                         26% Sales Growth: 13% Organic, 13% Acquisition
                                                                                                     4
Margin Bridge
                             Q4 '10          Net Charges *   Acq    Volume   COS    Other   Net Price / RM   Q4 '11
                 9.0%
                                                                     0.6%    0.4%
                 8.0%
                                                             1.2%                   0.1%                     6.7%
                 7.0%
                                                  1.3%                                          ‐1.2%
                 6.0%
   EBIT Margin




                 5.0%
                              4.3%
                 4.0%

                 3.0%

                 2.0%

                 1.0%

                 0.0%

                  EBIT: $26.8 Million                                                               EBIT: $52.7 Million
                                                                                                       97% growth

                                Positive impact from acquisitions, volume and COS
                                          Operating improvements at CTP
* Difference in acquisition related costs, 2011 v. 2010                                                                   5
Carlisle Construction Materials
                                Q4 2011 Results
   Sales growth of 23%                                             $400                          $378.5
                                                                                            23%
        PDT sales $16M, 5%                                         $350
                                                                               $306.5
        Organic growth of 18% on strong                            $300
         reroofing demand and selling price




                                                    $ in Millions
                                                                    $250
              Selling price added 7%
                                                                    $200
   EBIT increased 32% from $34.4M in
                                                                    $150
    2010 to $45.5M in 2011                                                                        12.0%
                                                                                   11.2%
        $2.1M expense for inventory step-                          $100
         up at PDT under purchase                                    $50
         accounting
                                                                      $0
        Selling price offset raw material                                         Q4 '10         Q4 '11
         impact
                                                                           Sales            PDT     Margin




               Strong organic growth from reroofing demand and selling price
                             Integration of PDT well underway
                                                                                                             6
Carlisle Transportation Products
                                           Q4 2011 Results
   Sales growth of 5%                                                 $180                             10.0%
        Selling price increase of $16M, 11%                                                  $154.1
                                                                       $160
                                                                              $146.4                    8.0%
        Partially offset by lower volume in Outdoor
                                                                       $140
         Power Equipment and Transmission Belts                                          5%
                                                                                                        6.0%
                                                                       $120
   Raw Materials declining in Q4, however, year




                                                       $ in Millions
    over year comparisons not favorable                                $100                             4.0%

        Natural Rubber up 21% in Q4 ‘11 vs. ‘10                       $80                              2.0%
        Synthetic Rubber up 42% in Q4 ‘11 vs. ‘10                            0.2%
                                                                       $60
                                                                                                         0% 
                                                                                                        0.0%
        Higher priced inventory sold during period                    $40                    -2.5%
         negatively impacted earnings                                                                   -2.0%
                                                                       $20
   EBIT loss of $4M
                                                                         $0                             -4.0%
        Loss from lower volume and raw material                              Q4 '10          Q4 '11

        Jackson plant running at target efficiency
                                                                                 Sales         Margin
         levels

                             Jackson plant issues addressed
                       CTP positioned for margin improvement in 2012
                                                                                                                7
Carlisle Brake & Friction
                                       Q4 2011 Results
   Sales growth of 126%                                         $140

        Hawk contributed $56.8M, 111%,                                                        $116.2
                                                                 $120
         reflects first two months of Q4 (Hawk
         acquired December 1, 2010)                              $100
                                                                                    126%




                                                 $ in Millions
        Organic sales growth of 15%                              $80
                                                                                                13.3%

        Continued global demand in                                             $51.4
                                                                  $60
         Agriculture, Construction and Mining                                                             0% 

   EBIT of $15.4M in 2011 versus loss of                         $40
    $10.7M in 2010                                                              -20.8%
                                                                  $20
        Hawk contributed $11.4M in Q4 ‘11
                                                                   $0
        Acquisition charges of $14.2M in Q4                                    Q4 '10         Q4 '11
         2010 for Hawk
                                                                        Sales           Hawk     Margin




                  Integration of Hawk in 2011 tremendous success
                                                                                                                8
Carlisle Interconnect Technologies
                                 Q4 2011 Results
   Tri-Star Electronics acquired Dec. 2, 2011
    for $284M                                                      $100
                                                                                                      $86.5
        Leading supplier of electrical contacts                    $90
         to aerospace, defense and industrial                       $80
                                                                                           32%

         customers                                                  $70
                                                                                  $65.5

   CIT sales growth of 32%




                                                   $ in Millions
                                                                    $60
        Tri-Star added $7.8M, 12%                                  $50
                                                                                  13.6%
        Organic sales growth of 20% driven                         $40
                                                                                                      12.0%
         by strong aerospace sales                                  $30
                                                                    $20
   EBIT increased 17% from $8.9M in 2010
                                                                    $10
    to $10.4M in 2011
                                                                     $0
        Excluding $2.1M in acquisition related                                   Q4 '10              Q4 '11

         costs, EBIT in Q4 ‘11 was $12.5M,                                Sales         Tri-Star         Margin
         margin of 14.5% 1                              1 Refer     to slide 20 for reconciliation of GAAP to non-GAAP measure



                       Outstanding sales and EBIT performance
                                                                                                                                 9
Carlisle FoodService Products
                               Q4 2011 Results
   Sales declined 5%                                         $70                           30.0%
                                                                    $57.1
        Selling price increase of 2%                         $60                           25.0%
                                                                             -5%   $54.3
         partially offset volume decline                                                    20.0%
                                                              $50
        Demand down in foodservice                                                         15.0%




                                              $ in Millions
                                                              $40
         products and healthcare                                    9.3%
                                                                                            10.0%
                                                              $30
   EBIT loss of $2.1M in Q4 ‘11                                                            5.0%
                                                              $20                            0% 
        Negatively impacted by lower sales                                                 0.0%
         volume, unfavorable mix changes,                     $10                           -5.0%
         higher customer rebates                                                    -3.9%
                                                              $0                            -10.0%
        $1.6M severance charges                                    Q4 '10         Q4 '11


                                                                        Sales      Margin



                 Undergoing actions to address performance and
                          improvement plan for 2012
                                                                                                     10
2011 Highlights
   Net sales up 28%                                             Financial Summary
       Organic up 14%                                           In Millions, except per share amounts               2011          2010      ∆

       Acquisitions contributed 13%                             Net Sales                                       $   3,224.5   $   2,527.7     28%

       FX < 1% impact                                           Earnings Before Interest and
                                                                 Income Taxes (EBIT)                                   275.1        196.1      40%
   EBIT Margin 8.5%, up 70 bps from                             EBIT Margin                                            8.5%         7.8%    70 bps
    prior year                                                   Income from Continuing
                                                                 Operations, Net of Tax                                181.9        130.6      39%
   Effective tax rate 28.4% in 2011 v.
                                                                 Continuing Operations Diluted
    30.5% in 2010                                                Earnings per Share                              $      2.88   $     2.10      37%
   EPS up 37% to $2.88
                                            Segment Summary
                                                      Brake &       Inter-         Food-
                    In Millions    Const.    Trans.   Friction     connect        Service        Corp    Total

                    2011
                    Net Sales     $ 1,484.0 $ 732.1 $ 473.0 $ 299.6 $ 235.8 $ -     $ 3,224.5
                    EBIT              177.9     9.1    77.2    41.9    13.2  (44.2)     275.1
                    EBIT Margin       12.0%    1.2%   16.3%   14.0%    5.6% -1.4%        8.5%
                    2010
                    Net Sales     $ 1,223.6 $ 684.8 $ 129.4 $ 251.1 $ 238.8 $ -     $ 2,527.7
                    EBIT              159.2    21.7    (0.9)   30.9    24.3  (39.1)     196.1
                    EBIT Margin       13.0%    3.2%   -0.7%   12.3%   10.2% -1.5%        7.8%
                    YOY Change
                    Net Sales         21%        7%      266%           19%            -1%                  28%
                    EBIT              12%      -58%        NM           36%           -46%        -13%      40%                                  11
Sales Bridge Full Year 2011
                 4,000
                                        Organic +13.9%
                                                                                          $3,224.5
                 3,500
                                                                   +13.4%

                 3,000                                                             0.3%
                         $2,527.7
 $ in Millions




                 2,500
                                    +4.9%          +9.0%
                 2,000
                                                           Organic by Segment
                 1,500                                     Construction     19%
                                                           Transportation     6%
                                                           Brake & Friction 30%
                 1,000                                     Interconnect     16%
                                                           FoodService      -2%

                  500

                    0
                          2010      Price       Volume / Oth         Acq           F/X     2011


                   28% Sales Growth: 14% Organic, 13% Acquisition, FX < 1%

                                                                                                     12
Margin Bridge Full Year 2011
                             2010          Net Charges *   Acq    Volume   COS    Net Price / RM   Other Op   2011
                  12.0%

                                                           1.2%    0.9%
                  10.0%
                                                0.2%                       0.7%                               8.5%
                             7.8%                                                     ‐1.5%
                   8.0%
    EBIT Margin




                                                                                                    ‐0.8%
                   6.0%


                   4.0%


                   2.0%


                   0.0%

                     EBIT: $196.1 Million                                                           EBIT: $275.1 Million
                                                                                                       40% growth

                               Positive impact from acquisitions, volume and COS
                          Partially offset by raw materials and Jackson start-up at CTP
* Difference in acquisition related costs, 2011 v. 2010                                                                    13
Strong Balance Sheet
         Debt Maturity Schedule                            Cash on Hand of $75M
$600                  In millions                          Tri-Star acquisition for $284M,
                                                            net of cash acquired, funded by
$500   $252     Available  Under 
                $600M Revolver 
                                                            credit facility
$400              at 12/31/11                              $252M available as of 12/31/11
                                                            under new revolver
$300
                                                           Debt to Cap ratio of 34%
$200   Drawn 
        $348
                                              Senior 
                                               Notes 
                                                           Debt to EBITDA of 2.0
$100                Senior     IRB &  Other   $249M
                     Notes                                 Cash proceeds of $23M for
                    $149M
  $0                                                        Profiles sale on 1/2/12
       2012         2016            2018      2020


           Well-positioned for further investment in acquisitions, new
                product development and capital expenditures
                                                                                              14
Cash Flow
Summary                                                               Cash Flow by Quarter

In Millions                      2011       2010                  $120

                                                                  $100
Net income                       $ 180.3 $ 145.6
                                                                      $80
 Depreciation and amortization      88.0    71.9




                                                      $ in Millions
 Non-cash compensation              15.7    13.3                      $60
 Change in working capital         (91.6) (109.9)                     $40
 Other                              (1.2)  (13.5)
                                                                      $20
Operating Cash Flow              $ 191.2 $ 107.4
                                                                        $0
Capital expenditures               (79.6)    (64.6)
                                                                      ($20)
Free Cash Flow                   $ 111.6    $ 42.8
                                                                      ($40)
                                                                              Q4 '10       Q1 '11      Q2 '11          Q3 '11        Q4 '11
                                                                               Operating Cash Flow     Capital Expenditures      Free Cash Flow

                                                                                          Q4 '10     Q1 '11      Q2 '11       Q3 '11     Q4 '11
                                                             Operating Cash Flow           $45.0       ($0.3)     $14.0       $105.2        72.3
                                                             Capital Expenditures           (17.8)     (16.9)      (16.9)       (14.7)     (31.1)
                                                             Free Cash Flow                  27.2      (17.2)       (2.9)        90.5       41.2




              78% Op Cash Flow Increase – 161% Free Cash Flow Increase
                                                                                                                                                  15
Working Capital as a % of Net Sales
                              32.0%



                              30.0%



                              28.0%



                              26.0%



                              24.0%



                              22.0%



                              20.0%
                          Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11
   WC as a % of Net Sales 30.4% 26.5% 25.1% 24.9% 23.5% 21.4% 21.6% 22.0% 23.4% 21.7% 21.5% 21.9%
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.




                                    Managing working capital on higher sales volume
                                                                                                                                                                                                       16
Q & A




        17
Carlisle 2012 Outlook
    Total sales growth with Tri-Star and PDT ~ 10%
           Organic sales growth in mid-single digits
    Margin improvement from organic growth, CTP improvements,
     COS and Tri-Star acquisition
    Corporate Expense - $44M
    Depreciation & Amortization - $107M
    Interest Expense - $24M
    Tax Rate - 33%
    Cash conversion ~ 75% on higher Capital Expenditures
     (Ratio of Free Cash Flow before Dividends to Net Income)


    Capital Expenditures - $120M - $150M
           Higher investment opportunities identified at CCM, CBF and CIT
                                                                             18
Appendix




           19
Reconciliation –
GAAP to Non‐GAAP Measures
     In Millions

     Page 9                                               Q4 '11

     EBIT - Carlisle Interconnect Technologies               $10.4
     Addback: Non-recurring pre-tax acquistion costs           2.1
     Adjusted EBIT - Carlisle Interconnect Technologies       12.5

     Net Sales - Carlisle Interconnect Technologies          $86.5

     Adjusted EBIT Margin                                    14.5%




                                                                     20

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4Q Earnings Presentation

  • 1. 4th Quarter 2011 February 2, 2012
  • 2. Forward Looking Statements During the course of this presentation, we may make projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We wish to caution you that such statements reflect only our current expectations, and that actual events or results may differ materially due to changes in global economic, business, competitive, market and regulatory factors. More detailed information about these factors is contained in the documents that the Company files from time to time with the Securities and Exchange Commission. We undertake no obligation to update such projections or such forward-looking statements in the future. 2
  • 3. Highlights of Q4 2011  Net sales up 26% Financial Summary  Organic sales up 13% In Millions, except per share amounts Q4 '11 Q4 '10 ∆  Continued solid growth at Brake & Net Sales $ 789.6 $ 626.9 26% Friction, Construction Materials and Earnings Before Interest and Interconnect Technologies Income Taxes (EBIT) 52.7 26.8 97%  $81M, or 13%, in sales from Hawk, EBIT Margin 6.7% 4.3% 240 bps PDT & Tri-Star acquisitions Income from Continuing Operations, Net of Tax 39.5 21.9 80%  EBIT Margin of 6.7% Continuing Operations Diluted  Selling Price / Raw Material parity at Earnings per Share $ 0.63 $ 0.35 80% CCM  Positive impact on EBIT margin from Hawk acquisition  Charges for Acquisitions of $4.2M in Q4 ‘11 versus $14.2M in Q4 ‘10 for Hawk  Acquired Tri-Star on December 2, 2011 Strong sales and earnings improvement 3
  • 4. Sales Bridge 1,000 Organic +13.1% 900 +12.9% 0% $789.6 800 $ in Millions +6.8% +6.3% 700 $626.9 Organic by Segment 600 Construction 18% Transportation 5% Brake & Friction 15% 500 Interconnect 20% FoodService -5% 400 300 Q4 '10 Price Volume / Oth Acq F/X Q4 '11 26% Sales Growth: 13% Organic, 13% Acquisition 4
  • 5. Margin Bridge Q4 '10 Net Charges * Acq Volume COS Other Net Price / RM Q4 '11 9.0% 0.6% 0.4% 8.0% 1.2% 0.1% 6.7% 7.0% 1.3% ‐1.2% 6.0% EBIT Margin 5.0% 4.3% 4.0% 3.0% 2.0% 1.0% 0.0% EBIT: $26.8 Million EBIT: $52.7 Million 97% growth Positive impact from acquisitions, volume and COS Operating improvements at CTP * Difference in acquisition related costs, 2011 v. 2010 5
  • 6. Carlisle Construction Materials Q4 2011 Results  Sales growth of 23% $400 $378.5 23%  PDT sales $16M, 5% $350 $306.5  Organic growth of 18% on strong $300 reroofing demand and selling price $ in Millions $250  Selling price added 7% $200  EBIT increased 32% from $34.4M in $150 2010 to $45.5M in 2011 12.0% 11.2%  $2.1M expense for inventory step- $100 up at PDT under purchase $50 accounting $0  Selling price offset raw material Q4 '10 Q4 '11 impact Sales PDT Margin Strong organic growth from reroofing demand and selling price Integration of PDT well underway 6
  • 7. Carlisle Transportation Products Q4 2011 Results  Sales growth of 5% $180 10.0%  Selling price increase of $16M, 11% $154.1 $160 $146.4 8.0%  Partially offset by lower volume in Outdoor $140 Power Equipment and Transmission Belts 5% 6.0% $120  Raw Materials declining in Q4, however, year $ in Millions over year comparisons not favorable $100 4.0%  Natural Rubber up 21% in Q4 ‘11 vs. ‘10 $80 2.0%  Synthetic Rubber up 42% in Q4 ‘11 vs. ‘10 0.2% $60 0%  0.0%  Higher priced inventory sold during period $40 -2.5% negatively impacted earnings -2.0% $20  EBIT loss of $4M $0 -4.0%  Loss from lower volume and raw material Q4 '10 Q4 '11  Jackson plant running at target efficiency Sales Margin levels Jackson plant issues addressed CTP positioned for margin improvement in 2012 7
  • 8. Carlisle Brake & Friction Q4 2011 Results  Sales growth of 126% $140  Hawk contributed $56.8M, 111%, $116.2 $120 reflects first two months of Q4 (Hawk acquired December 1, 2010) $100 126% $ in Millions  Organic sales growth of 15% $80 13.3%  Continued global demand in $51.4 $60 Agriculture, Construction and Mining 0%   EBIT of $15.4M in 2011 versus loss of $40 $10.7M in 2010 -20.8% $20  Hawk contributed $11.4M in Q4 ‘11 $0  Acquisition charges of $14.2M in Q4 Q4 '10 Q4 '11 2010 for Hawk Sales Hawk Margin Integration of Hawk in 2011 tremendous success 8
  • 9. Carlisle Interconnect Technologies Q4 2011 Results  Tri-Star Electronics acquired Dec. 2, 2011 for $284M $100 $86.5  Leading supplier of electrical contacts $90 to aerospace, defense and industrial $80 32% customers $70 $65.5  CIT sales growth of 32% $ in Millions $60  Tri-Star added $7.8M, 12% $50 13.6%  Organic sales growth of 20% driven $40 12.0% by strong aerospace sales $30 $20  EBIT increased 17% from $8.9M in 2010 $10 to $10.4M in 2011 $0  Excluding $2.1M in acquisition related Q4 '10 Q4 '11 costs, EBIT in Q4 ‘11 was $12.5M, Sales Tri-Star Margin margin of 14.5% 1 1 Refer to slide 20 for reconciliation of GAAP to non-GAAP measure Outstanding sales and EBIT performance 9
  • 10. Carlisle FoodService Products Q4 2011 Results  Sales declined 5% $70 30.0% $57.1  Selling price increase of 2% $60 25.0% -5% $54.3 partially offset volume decline 20.0% $50  Demand down in foodservice 15.0% $ in Millions $40 products and healthcare 9.3% 10.0% $30  EBIT loss of $2.1M in Q4 ‘11 5.0% $20 0%   Negatively impacted by lower sales 0.0% volume, unfavorable mix changes, $10 -5.0% higher customer rebates -3.9% $0 -10.0%  $1.6M severance charges Q4 '10 Q4 '11 Sales Margin Undergoing actions to address performance and improvement plan for 2012 10
  • 11. 2011 Highlights  Net sales up 28% Financial Summary  Organic up 14% In Millions, except per share amounts 2011 2010 ∆  Acquisitions contributed 13% Net Sales $ 3,224.5 $ 2,527.7 28%  FX < 1% impact Earnings Before Interest and Income Taxes (EBIT) 275.1 196.1 40%  EBIT Margin 8.5%, up 70 bps from EBIT Margin 8.5% 7.8% 70 bps prior year Income from Continuing Operations, Net of Tax 181.9 130.6 39%  Effective tax rate 28.4% in 2011 v. Continuing Operations Diluted 30.5% in 2010 Earnings per Share $ 2.88 $ 2.10 37%  EPS up 37% to $2.88 Segment Summary Brake & Inter- Food- In Millions Const. Trans. Friction connect Service Corp Total 2011 Net Sales $ 1,484.0 $ 732.1 $ 473.0 $ 299.6 $ 235.8 $ - $ 3,224.5 EBIT 177.9 9.1 77.2 41.9 13.2 (44.2) 275.1 EBIT Margin 12.0% 1.2% 16.3% 14.0% 5.6% -1.4% 8.5% 2010 Net Sales $ 1,223.6 $ 684.8 $ 129.4 $ 251.1 $ 238.8 $ - $ 2,527.7 EBIT 159.2 21.7 (0.9) 30.9 24.3 (39.1) 196.1 EBIT Margin 13.0% 3.2% -0.7% 12.3% 10.2% -1.5% 7.8% YOY Change Net Sales 21% 7% 266% 19% -1% 28% EBIT 12% -58% NM 36% -46% -13% 40% 11
  • 12. Sales Bridge Full Year 2011 4,000 Organic +13.9% $3,224.5 3,500 +13.4% 3,000 0.3% $2,527.7 $ in Millions 2,500 +4.9% +9.0% 2,000 Organic by Segment 1,500 Construction 19% Transportation 6% Brake & Friction 30% 1,000 Interconnect 16% FoodService -2% 500 0 2010 Price Volume / Oth Acq F/X 2011 28% Sales Growth: 14% Organic, 13% Acquisition, FX < 1% 12
  • 13. Margin Bridge Full Year 2011 2010 Net Charges * Acq Volume COS Net Price / RM Other Op 2011 12.0% 1.2% 0.9% 10.0% 0.2% 0.7% 8.5% 7.8% ‐1.5% 8.0% EBIT Margin ‐0.8% 6.0% 4.0% 2.0% 0.0% EBIT: $196.1 Million EBIT: $275.1 Million 40% growth Positive impact from acquisitions, volume and COS Partially offset by raw materials and Jackson start-up at CTP * Difference in acquisition related costs, 2011 v. 2010 13
  • 14. Strong Balance Sheet Debt Maturity Schedule  Cash on Hand of $75M $600 In millions  Tri-Star acquisition for $284M, net of cash acquired, funded by $500 $252 Available  Under  $600M Revolver  credit facility $400 at 12/31/11  $252M available as of 12/31/11 under new revolver $300  Debt to Cap ratio of 34% $200 Drawn  $348 Senior  Notes   Debt to EBITDA of 2.0 $100 Senior  IRB &  Other $249M Notes   Cash proceeds of $23M for $149M $0 Profiles sale on 1/2/12 2012 2016 2018 2020 Well-positioned for further investment in acquisitions, new product development and capital expenditures 14
  • 15. Cash Flow Summary Cash Flow by Quarter In Millions 2011 2010 $120 $100 Net income $ 180.3 $ 145.6 $80 Depreciation and amortization 88.0 71.9 $ in Millions Non-cash compensation 15.7 13.3 $60 Change in working capital (91.6) (109.9) $40 Other (1.2) (13.5) $20 Operating Cash Flow $ 191.2 $ 107.4 $0 Capital expenditures (79.6) (64.6) ($20) Free Cash Flow $ 111.6 $ 42.8 ($40) Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Operating Cash Flow Capital Expenditures Free Cash Flow Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Operating Cash Flow $45.0 ($0.3) $14.0 $105.2 72.3 Capital Expenditures (17.8) (16.9) (16.9) (14.7) (31.1) Free Cash Flow 27.2 (17.2) (2.9) 90.5 41.2 78% Op Cash Flow Increase – 161% Free Cash Flow Increase 15
  • 16. Working Capital as a % of Net Sales 32.0% 30.0% 28.0% 26.0% 24.0% 22.0% 20.0% Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 WC as a % of Net Sales 30.4% 26.5% 25.1% 24.9% 23.5% 21.4% 21.6% 22.0% 23.4% 21.7% 21.5% 21.9% 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. Managing working capital on higher sales volume 16
  • 17. Q & A 17
  • 18. Carlisle 2012 Outlook  Total sales growth with Tri-Star and PDT ~ 10%  Organic sales growth in mid-single digits  Margin improvement from organic growth, CTP improvements, COS and Tri-Star acquisition  Corporate Expense - $44M  Depreciation & Amortization - $107M  Interest Expense - $24M  Tax Rate - 33%  Cash conversion ~ 75% on higher Capital Expenditures (Ratio of Free Cash Flow before Dividends to Net Income)  Capital Expenditures - $120M - $150M  Higher investment opportunities identified at CCM, CBF and CIT 18
  • 19. Appendix 19
  • 20. Reconciliation – GAAP to Non‐GAAP Measures In Millions Page 9 Q4 '11 EBIT - Carlisle Interconnect Technologies $10.4 Addback: Non-recurring pre-tax acquistion costs 2.1 Adjusted EBIT - Carlisle Interconnect Technologies 12.5 Net Sales - Carlisle Interconnect Technologies $86.5 Adjusted EBIT Margin 14.5% 20