Carlisle Companies reported strong financial results for the 2nd quarter of 2011. Net sales increased 27% to $870.8 million, driven by a 14% increase in organic sales and a 12% contribution from acquisitions. Earnings before interest and taxes grew 33% to $85.4 million, with margins expanding 50 basis points to 9.8%. Continued sales and earnings growth was achieved despite pressure from rising raw material costs. The results reflected outstanding performance from the Brake & Friction segment, which saw a 356% increase in sales and 510 basis point expansion in margins due to the Hawk acquisition. Carlisle remains well positioned for further growth through investments in acquisitions, new product development and

1. Carlisle Companies Earnings Call
p g
2nd Quarter June 30, 2011

2. Forward Looking Statements
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During the course of this presentation we may make projections or other
presentation,
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
economic, business, competitive,
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.
forward looking
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3. Highlights of Q2 2011
g g Q
 Net sales up 27%
Financial Summary
 Organic up 14%
In Millions, except per share amounts Q2 '11 Q2 '10 ∆
 Growth led by Brake & Friction,
Construction Materials and Interconnect Net Sales $ 870.8 $ 687.6 27%
Technologies Earnings Before Interest and
Income Taxes (EBIT) 85.4 64.0 33%
 $84 million from Hawk acquisition, 12% EBIT Margin 9.8% 9.3% 50 bps
 EBIT Margin of 9.8%, up 50 bps Income from Continuing
Operations, Net of Tax 55.3 38.8 43%
 Margin for H k
M i f Hawk was 18 7%
18.7% Continuing Operations Diluted
Earnings per Share $ 0.87 $ 0.62 40%
 Continued earnings pressure from raw
material increases
 Continuing Operations EPS of $0.87, up
40%
 Announced agreement to acquire PDT in
Germany
Continued sales and earnings improvement despite raw material impact
Outstanding performance from Hawk / Brake & Friction segment
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4. Sales Bridge
g
1,000
Organic +14.1%
+12.1% +0.4% $870.8
900
Volume +9.8%
800
$ in Millions
+4.3%
$687.6
700
600 Organic by Segment
Construction 19%
Transportation 6%
500 Brake & Friction 33%
Interconnect 15%
FoodService 3%
400
300
Q2 '10
' Price
i Volume / Oth
l / h Acq F/X
/ Q2 '11
'
27% Sales Growth: 14% Organic, 12% Acquisition
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5. Margin Bridge
g g
Q2 10
Q2 '10 Raw Mat
Raw Mat Price Volume COS Acq Other Op
Other Op Q2 11
Q2 '11
12.0%
9.3% ‐4.6% 9.8%
10.0% 0.9%
3.2% ‐1.6%
1.1%
8.0%
EBIT Margin
1.5%
6.0%
6 0%
4.0%
2.0%
0.0%
EBIT - $64 0 Million
$64.0 EBIT - $85 4 Million
$85.4
33%
Hawk acquisition continues to add margin
Raw material increases offset by volume, price and COS
ff
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6. Carlisle Construction Materials
C li l C t ti M t i l
Q2 2011 Results
 19% sales growth $450 50.0%
$412.0
19% 45.0%
 Reroofing demand still high $400
$345.8 40.0%
 Selling price added 2 5%
2.5% $350
35.0%
 EBIT increased 6% from $51.3M in 2010 $300
$ in Millions
30.0%
to $54.2M in 2011 $250
25.0%
M
 Negative $19 million impact from raw $200
20.0%
materials over prior year $150 14.8%
13.2% 15.0%
 35% increase in EPDM Rubber $100 10.0%
10 0%
 24% increase in Carbon Black $50 5.0%
 10% increase in TPO Resin $0 0.0%
Q2 '10 Q2 '11
 Impact of raw material partially offset by
I t f t i l ti ll ff t b
organic growth and COS Sales Margin
Strong reroofing market
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Some selling price realization; Increases announced for Q3
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7. Carlisle Transportation Products
Q2 2011 Results
 Sales growth of 6%
$250 3.5%
 Selling price increase of $18M, 9%
 Higher demand in Agriculture and 6% $204.3
$192.0 3.5%
$200
Power Sports
 Offset by lower demand in OPE and 3.4%
illions
$150
Construction
3.4%
3 4%
$ in Mi
 EBIT margin unchanged
$100 3.3% 3.3%
 Production inefficiencies at Jackson 3.3%
offset savings from restructuring
expense and plant consolidation $50
3.3%
3 3%
 Raw material cost increases recovered by
selling price $0 3.2%
Q2 '10 Q2 '11
 Natural Rubber up 44%
Sales Margin
 Synthetic Rubber up 52%
Continued raw material increases mitigated by selling price
New plant inefficiencies impacting results
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8. Carlisle Brake & Friction
Q2 2011 Results
 Hawk contributed $83.5 million to Net
$140
Sales and $15.6 million to EBIT $119.4
 18.7%
18 7% margin $120
356%
 Organic sales growth of 33% driven by $100
demand in global Agriculture,
$ in Millions
Construction and Mining $80
 510 bps increase in EBIT margin $60
16.2%
 Hawk driver of margin $40
$26.2
improvement
$20 11.1%
 Demand conditions favorable due to
commodity prices and infrastructure $0
g
growth in developing markets
p g Q2 '10 Q2 '11
Sales Hawk Margin
Record performance for Hawk and core braking business
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Outlook continues to be favorable
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9. Carlisle Interconnect Technologies
Q2 2011 Results
 Sales growth 15% $80 30.0%
$71.7
 20% growth in Aerospace from legacy 15%
$70
Boeing p g
g programs and in-flight
g $62.4 25.0%
entertainment $60
20.0%
 8% growth in Military sales
$ in Millions
$50 16.3%
 Boeing 787 p g
g program ramping up
p g p $40 15.0%
15 0%
 95% increase in EBIT and 670 bps margin $30 9.6%
10.0%
improvement $20
5.0%
5 0%
 COS added 250 bps to margin $10
 Plant consolidation and restructuring $0 0.0%
savings added 130 bps
g p Q2 '10 Q2 '11
Sales Margin
Outstanding sales performance and EBIT leverage
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10. Carlisle FoodService Products
C li l F dS i P d t
Q2 2011 Results
 Sales growth 4% (organic growth 3%)
$70 30.0%
$61.2 4% $63.4
 Selling price added 3%
$60 25.0%
 Foodservice sales up 11%
$50
overall despite flat industry trend 20.0%
$ in Millions
$40
 Healthcare sales down 9% 15.0%
M
$30
 EBIT margin decline from 10.3% to 10.3%
8.4% 10.0%
8.4% $20
 Selling price increases were $10 5.0%
5 0%
more than offset by higher raw
material and freight costs $0 0.0%
Q2 '10 Q2 '11
Sales Margin
Growth in foodservice market
Higher raw material and freight costs mitigated by selling price
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11. Strong Balance Sheet
g
Debt Maturity Schedule
In millions
$500
 Cash on Hand of $99M
$369 Available Under  Revolving Credit Facility
$400 Revolver at
6/30/11 availability of $369M
$300  Acquisition of PDT in Germany
for €80 to be funded with cash
on hand and revolver
$200
Senior
Notes  Debt to Cap ratio of 26%
$249M
$100 Senior
Drawn, $100 Notes IRB & Other
 Debt to EBITDA of 1.5
$149M
LC, $31
$0
2012 2016 2018 2020
Well-positioned for further investment in acquisitions, new
product development and capital expenditures
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12. Cash Flow by Quarter
yQ
$50
$40
$30
$ in Millions
$20
$10
$0
-$10
$10
-$20
-$30
Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11
Operating Cash Flow Capital Expenditures Free Cash Flow
Q2 '10
10 Q3 '10
10 Q4 '10
10 Q1 '11
11 Q2 '11
11
Operating Cash Flow $37.4 $41.9 $45.0 ($0.3) $14.0
Capital Expenditures (23.2) (15.2) (17.8) (16.9) (16.9)
Free Cash Flow 14.2 26.7 27.2 (17.2) (2.9)
Cash flow impacted by sales growth; 81% global growth in Q2 with Hawk
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13. 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
WC 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%
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 hi h sales volume
M i ki it l higher l l
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14. Q
Q & A
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15. Carlisle 2011 Outlook
 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
 Interest Expense - $21M
 Tax Rate – 33%
 Capital Expenditures - $75M
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