Carlisle Companies reported strong sales and earnings growth in Q1 2011 despite significant raw material cost increases. Net sales were up 27% to $693.6 million, with 13% organic growth. Earnings before interest and taxes increased 42% to $55.2 million, with a 90 basis point improvement in margins. The acquisition of Hawk contributed $76 million in sales and added positively to earnings in its first quarter as part of Carlisle. Raw material costs rose substantially year-over-year but were offset by volume growth, price increases, and cost savings initiatives.

1. Q1 2011 Earnings Call
Carlisle Companies
Incorporated
April 26, 2011

2. Forward Looking Statements
f
During the course of this presentation, we may make projections
or other forward-looking statements within the meaning of the
a e Secu es ga o eo c o 995 e s o
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 d
t i ll due t changes i global economic, b i
to h in l b l i 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
forward-looking future.
2

3. Highlights of Q1 2011
 Net sales up 27% Financial Summary
 Organic up 13% In Millions, except per share amounts
Millions Q1 '11
11 Q1 '10
10 ∆
 $76 million from Hawk acquisition, 14% Net Sales $ 693.6 $ 547.3 27%
 Growth in all segments except for Earnings Before Interest and
FoodService Income Taxes (EBIT)
( ) 55.2 38.8 42%
EBIT Margin 8.0% 7.1% 90 bps
 EBIT up 42%, 90 bps margin
Income from Continuing
improvement Operations, Net of Tax 33.3 23.1 44%
 Margin for Hawk was 17 5%
17.5% Continuing Operations Diluted
Earnings per Share $ 0.53 $ 0.37 43%
 Earnings from organic sales growth,
selling price realization and COS
savings offset significant raw material
increases in core businesses
 Continuing Operations EPS of $0.53
 Positive after-tax earnings contribution
from Hawk
Strong sales and earnings growth despite raw material impact
Earnings accretion from Hawk 1st quarter after acquisition
3

4. Sales Bridge
Organic +12.6%
750 +0.2%
+13.9% $693.6
700
Volume +10.7%
650 Mix/Other -0.2%
600 $547.3
+2.1%
Millions
550
500 Organic by Segment
$ in M
Construction 16%
450 Transportation 10%
Brake & Friction 52%
400 Interconnect 6%
350 FoodService 0%
300
Q1 '10 Price Volume / Acq F/X Q1 '11
Oth
27% Sales Growth – 13% Organic, 14% Acquisition
4

5. Margin Bridge
Q1 '10 Raw Mat Price Volume COS Acq Q1 '11
9.0%
+1.2% 8.0%
8.0%
7.1%
+0.8%
7.0%
+1.4%
6.0%
%
EB Margin
+1.9%
5.0%
BIT
4.0%
3.0%
‐4.4%
2.0%
1.0%
%
0.0%
EBIT - $38.8 Million EBIT - $55.2 Million
%
42%
Improvement from Hawk acquisition in Q1
Raw material increases offset by volume, price and COS
5

6. Carlisle Construction Materials
Q1 2011 Results
 16% sales growth
g
$300 50.0%
 Growth on higher re-roofing
$251.3 45.0%
demand $250
16%
$216.5
$216 5 40.0%
 Selling price increases commenced 35.0%
$200
in Q1, further price increases in Q2
$ in Millions
30.0%
 EBIT declined 7% from $19.3M in 2010 $150 25.0%
M
to $18.0M in 2011 20.0%
$100
15.0%
 Negative $9 million impact from raw 8.9%
7.2% 10.0%
materials over prior y
p year $50
5.0%
 29% increase in EPDM Rubber $0 0.0%
Q1 '10 Q1 '11
 44% increase in Carbon Black
Sales Margin
 11% increase in TPO Resin
Continued strength in replacement roofing in Q1 2011 – 85% of sales
Negative raw material impact
6

7. Carlisle Transportation Products
Q1 2011 Results
 Sales growth of 10%
 Strength in all major product lines led $250 50.0%
by Ag/Construction at 16% and High 10% $209.1 45.0%
Speed Trailers at 14% $189.6
$200 40.0%
 Lawn & Garden up 8%
35.0%
 Selling price added $11 million, or 6%
$ in Millions
$150 30.0%
 110 bps EBIT margin improvement from 25.0%
M
COS and expense reduction i iti ti
d d ti initiatives $100 20.0%
 Raw material impact approximately $13 15.0%
million significantly offset by selling price $50 6.1% 7.2% 10.0%
 Natural rubber up 51%; Synthetic up 5.0%
27% $0 0.0%
 Jackson consolidation substantially Q1 '10 Q1 '11
completed Sales Margin
 Expect start-up costs through Q2
Solid
S lid organic growth and operating efficiency i
i th d ti ffi i improvementst
Continued pressure from raw materials mitigated by selling price
7

8. Carlisle Brake & Friction
Q1 2011 Results
 Acquisition of Hawk contributed $76.2
q
million to Net Sales and $13.3 million to $120 $110.8
EBIT
$100
 17.5% margin
 Organic sales growth of 52% driven by $80
demand in global Construction and
$ in Millions
Mining $60
M
 710 bps increase in EBIT margin
$40
 490 bps margin increase in core $22.5 16.4%
brake business on higher sales $20
9.3%
9 3%
 EBIT net of $1.7 million inventory
step-up charges at Hawk $0
Q1 '10 Q1 '11
 Successful integration progress in all
operating aspects of Hawk and core Sales Hawk Margin
brake business
Significant sales and earnings growth for core brake
and Hawk acquisition
8

9. Carlisle Interconnect Technologies
Q1 2011 Results
 Sales growth 6%
 10% growth in aerospace from legacy $70 $65.7 30.0%
Boeing programs and in-flight $61.9
$60
entertainment offset by delays in the 6% 25.0%
787 program $50
20.0%
 6% decline in military sales from
llions
$40
Government budget delays 13.5%
13 5%
12.6%
12 6% 15.0%
15 0%
$ in Mil
$30
 14% increase in EBIT from $7.8 million in
Q1 ’10 to $8.9 million in Q1 ‘11 10.0%
$20
 Savings from COS and Vancouver plant 5.0%
$10
consolidation offset higher raw material
expense $0 0.0%
 Silver up 85% Q1 '10 Q1 '11
 Copper up 32% Sales Margin
6% sales growth and EBIT leverage despite raw material pressure
9

10. Carlisle FoodService Products
Q1 2011 Results
 Sales flat to prior year $56.8 $56.7
$60 30.0%
 Selling price added 3.5%
$50 25.0%
 y
Offset by volume reduction
impacted by weak demand in $40 20.0%
$ in Millions
sector
$30 15.0%
 EBIT margin decline from 11.4% to 11.4%
9.7%
9.7% $20 10.0%
 Higher raw material costs $10 5.0%
 Partially offset by higher selling
$0 0.0%
prices and savings from COS Q1 '10 Q1 '11
Sales Margin
Continued weak demand; higher raw material mitigated by selling price
10

11. Strong Balance Sheet
Debt Maturity Schedule
In millions
 Cash on Hand of $104 million
$500
 Revolving Credit Facility availability as
$359 Available Under of March 31, 2011 $359 million
$400
Revolver at 3/31/11
Revolver at 3/31/11  Hawk 8.75%
H k 8 75% senior unsecured notes of
i d t f
$57 million face amount redeemed on
$300
January 10, 2011 for $59 million
$200  Debt to Capital ratio of 27%
Senior
Senior Notes
Drawn $249M
$100 $110
Notes
$149M IRB & Other
LC, $31
$0
2012 2016 2018 2020
Well positioned for further investment in acquisitions, new
product development and capital expenditures
11

12. Cash Flow by Quarter
$50
$40
$30
$20
$ in Millions
$10
$0
-$10
-$20
-$30
Q1 '10
10 Q2 '10
10 Q3 '10
10 Q4 '10
10 Q1 '11
11
Operating Cash Flow Capital Expenditures Free Cash Flow
Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11
Operating Cash Flow
p g ($
($16.9)) $
$37.3 $
$42.0 $
$45.0 ($ )
($0.3)
Capital Expenditures (8.4) (23.2) (15.2) (17.8) (16.9)
Free Cash Flow (25.3) 14.1 26.8 27.2 (17.2)
Q1 2011 Negative reflecting seasonality; Increased Capex investment
12

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
Working Capital Performance Q1 '09 Q2 '09 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '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%
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
13

14. Q&A
14

15. Carlisle 2011 Outlook
 Continued sales growth from Hawk acquisition and
segment organic growth in high-teens to low-20’s
 Expect continuation of higher margin contribution
from Brake & Friction segment
 Raw material and inflation pressure could temper
earnings
g
 Corporate Expense - $38M
 Depreciation & Amortization - $93M
 Interest Expense - $22M
 Tax Rate – 34%
 Capital Expenditures - $70M to $
p p $ $80M
15