FLIR

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FLIR
FORWARD-LOOKING STATEMENTS
This presentation and the associated discussion
contain forward looking statements within the
meaning of the Private Securities Litigation
Reform Act of 1995. These statements are not
guarantees of future performance and actual
outcomes and results may differ materially. Such
forward-looking statements speak only as of the
date on which this presentation is made and the
Company does not undertake any obligation to
update any forward-looking statement to reflect
events or circumstances after the date of this
presentation. Please refer to our most recently
filed 10-K for a description of factors that
could cause actual outcomes or results to differ
materially.
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Company Overview
WORLDS LARGEST COMMERCIAL INFRARED COMPANY
2008 EPS 1.28 5-year Growth Rate 35 2009
Guidance 1.40 - 1.47
2008 Revenue 1.08B U.S. Government 41
International 38 Commercial 47 5-Year
Growth Rate 28 2009 Guidance 1.2B - 1.25B
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Company Overview
WORLDS LARGEST COMMERCIAL INFRARED COMPANY

• Market Leader in Large, Growing Markets
• Commercial Model for High-Growth Military
  Markets
• Performance Track Record
• Low Cost
• Distribution
• Product Line Breadth
• Brand

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Thermal Imaging
SUPERIOR TECHNOLOGY
Utilizes the Infrared Portion of the
Electromagnetic Spectrum Sees Heat
Completely Passive Cooled and Uncooled
Technologies
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Customer Return on Investment
SAVES LIVES

• Search and Rescue
• Accident Avoidance
• Force Protection
• Law Enforcement

• Security
• Fire
• Reconnaissance
• Medical

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Customer Return on Investment
SAVES

• Building / Home Inspection
• Preventative Maintenance
• Reduces Energy Consumption
• Improves Manufacturing Efficiency
• Security

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Customer Return on Investment
SAFEGUARD THE ENVIRONMENT

• See Gas Leaks
• Reduces Wasted Energy
• Helps Find Pollution
• Reduces Greenhouse Gases

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Market Opportunity
FLIR ADDRESSED MARKET
TODAY 4.2 Billion
Source Maxtech International and FLIR estimates
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Market Opportunity
MASS MARKET POTENTIAL (U.S. Only)
Source U.S. Dept. of Transportation U.S. Dept.
of Labor Intl Institute for Strategic Studies
Autodata CSM Worldwide Flir Estimates, General
Aviation Manufacturers Association
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Organized for Growth
ORGANIZED AROUND KEY MARKETS

• Unique among Divisions
• Markets
• Distribution
• Customers
• Products

• Shared between Divisions
• Technology
• Brand
• Strategy

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TEMPERATURE MEASUREMENT
Performance Revenue (ttm) 327M 5-Year Growth
22 / yr ASPs 3K - 100K
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TEMPERATURE MEASUREMENT
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HIGH PERFORMANCE IMAGING
Performance Revenue (ttm) 569M 3-Year Growth
33 / yr ASPs 10K - 1,000K
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HIGH PERFORMANCE IMAGING
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Commercial Vision Systems
INFRARED FOR EVERYONE
Performance Revenue (ttm) 181M 3-Year Growth
29 / yr ASPs 3K - 300K
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Commercial Vision Systems
INFRARED FOR EVERYONE
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Growth Strategy
VIRTUOUS CYCLE EXPANDS MARKET PENETRATION
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Growth Strategy
VIRTUOUS CYCLE EXPANDS MARKET PENETRATION
Aggregate Volumes

• Thermography units up 36 / yr. since 2005
• Detector units up 90 / yr. since 2005

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Growth Strategy
VIRTUOUS CYCLE EXPANDS MARKET PENETRATION
RD 8-10 of revenue
Shared/Platform RD
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Growth Strategy
VIRTUOUS CYCLE EXPANDS MARKET PENETRATION
Drives Cost Down on all Products
Detector cost down 30 / year over past 3 years
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Growth Strategy
VIRTUOUS CYCLE EXPANDS MARKET PENETRATION
Lower Prices in Price Elastic Markets
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Changing Paradigms
COMMERCIAL MODEL FOR THE FUTURE OF GOVERNMENT
PROCUREMENT

• More accountability
• More efficiency

• Self-funded RD
• Roadmap one productfor many customers

• Best Solution
• Lowest Price
• Fast Delivery
• Service

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IDIQ Status
LONG TERM CONTRACT VEHICLES IMPROVE VISIBILITY
(as of 12/31/08)
Note Does not include contracts where FLIR is a
subcontractor
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Technology Competencies
OWNERSHIP OF CRITICAL TECHNOLOGIES

• Enables
• Best-in-class products
• Fast design cycles
• Low-cost designs
• Unique in the industry

Electronics
Lasers
Software
Lenses
Stabilization
Detectors
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Technology Competencies
Technology Competencies
OWNERSHIP OF CRITICAL TECHNOLOGIES
Detectors

• Core technology that sees infrared radiation
• Cooled and Uncooled technologies
• Enabler of FLIRs business

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Technology Competencies
OWNERSHIP OF CRITICAL TECHNOLOGIES
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Financial Performance
STRONG TRACK RECORD
1.40 - 1.47
1,200 - 1,250
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Long-term Target Financial Model
OUTSTANDING BUSINESS MODEL
Includes corporate expenses
Note Revenue growth includes the impact of
acquisitions
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FLIRs Balance Sheet
FINANCIAL FLEXIBILITY

Represents in-the-money convertible at 3
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FLIR
INVESTMENT MERITS

• Growth Company
• Vast Markets
• Driving Industry Growth
• New Products
• Expanding Distribution
• Organized for Success
• Performance Track Record

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FLIR
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