KEY EXECUTIVES. John L. Garrison Jr. Bell Helicopter President and CEO. Scott C. Donnelly Chairman and Chief Executive Officer

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1 2011 FACT BOOK

2 Textron Inc. is an $11.3 billion multi-industry company operating in 25 countries with approximately 32,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, E-Z-GO, Greenlee, Jacobsen, Kautex, Lycoming, Textron Systems and Textron Financial Corporation. Textron Inc. consists of numerous subsidiaries and operating divisions. Please refer to the back cover for legal entity structure. KEY EXECUTIVES Scott C. Donnelly was named chief executive officer in December 2009 and chairman of the board in September Donnelly joined Textron as executive vice president and chief operating officer in June 2008 and was promoted to president in January Prior to joining Textron, Donnelly was president and CEO for General Electric (GE) Aviation. He also held various other management positions since joining GE in Scott C. Donnelly Chairman and Chief Executive Officer Scott A. Ernest Cessna Aircraft President and CEO John L. Garrison Jr. Bell Helicopter President and CEO Frederick M. Strader Textron Systems President and CEO Frank T. Connor joined Textron as executive vice president and chief financial officer in August Connor came to Textron after a 22-year career at Goldman, Sachs & Co. where, most recently, he was managing director and head of Telecom Investment Banking. Prior to that, he served as Goldman, Sachs & Co. s chief operating officer of Telecom, Technology and Media Investment Banking. Frank T. Connor Executive Vice President and Chief Financial Officer J. Scott Hall Industrial Segment and Greenlee President John D. Klopfer Aviation Finance President and CEO

3 Revenue by Segment Revenue by Customer Type Revenue by Geography Bell Helicopter 31 Cessna 26 Industrial 25 Textron Systems 17 Finance 1 Commercial 68 U.S. Government 31 Finance 1 U.S. 63 Europe 14 Asia Pacific 9 Latin America & Mexico 7 Canada 3 Middle East 3 Africa 1 FINANCIAL HIGHLIGHTS (Dollars in millions except per share data) Change Revenues $11,275 $10,525 7 International revenues Segment profit 1 $ «591 $ «553 7 Income from continuing operations $ «242 $ « Manufacturing group debt 2 $ 2,459 $ 2,302 7 Shareholders equity $ 2,745 $ 2,972 (8) Debt (net of cash) to total capital Manufacturing group Common Share Data Diluted EPS from continuing operations $ 0.79 $ Dividends per share $ 0.08 $ 0.08 Diluted average shares outstanding (in thousands) 307, ,555 2 Key Performance Metrics ROIC Net cash provided by operating activities of continuing operations Manufacturing group GAAP 2 $ «761 $ «730 4 Manufacturing cash flow before pension contributions Non-GAAP 2, 4 $ 1,000 $ « Pension contributions $ «642 $ « Capital expenditures $ «423 $ « Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes interest expense, certain corporate expenses and special charges. The measurement for the Finance segment excludes special charges and includes interest income and expense along with intercompany interest expense. 2 Our Manufacturing group includes all continuing operations of Textron Inc., except for the Finance segment. 3 Calculation of return on invested capital ( ROIC ) is provided on page Calculations of Manufacturing cash flow before pension contributions are provided on page Change Net Debt Finance segment debt $1,974 $3,660 $(1,686) Manufacturing group debt 2,459 2, Total debt 4,433 5,962 (1,529) Consolidated cash and equivalents (885) «(931) 46 Net debt $3,548 $5,031 $(1,483) Senior Short-Term (As of March 1, 2012) Long-Term Commercial Paper Textron Inc. Credit Ratings S&P BBB- A3 Fitch BBB- F3 Moody s Baa3 P3 TEXTRON 2011 FACT BOOK 1

4 Cessna Sales Breakdown By Product Line Aftermarket 24 Aircraft Sales 76 By Customer U.S. Government 1 Fractional Ownership 3 Corporate 96 Aftermarket Sales (Dollars in millions) $229 $270 $302 $330 $354 $381 $443 $502 $562 $606 $666 $721 $587 $667 $ CESSNA Cessna s share of 26 Textron 2011 revenues Cessna is the world s leading general aviation company based on unit sales with two principal lines of business: Aircraft sales and aftermarket services. Aircraft sales include Citation jets, Caravan single-engine utility turboprops, single-engine piston aircraft and lift solutions by CitationAir. Aftermarket services include parts, maintenance, inspection and repair services. KEY DATA (Dollars in millions) Cessna Units sold: Business jets Caravans Single-engine Backlog, excluding CitationAir $1,889 $2,928 $4,893 $14,530 $12,583 Revenues $2,990 $2,563 $3,320 $ 5,662 $ 5,000 Segment profit 2 $ «60 $ ««(29) $«198 $ «905 $ «865 Segment profit margin 2.0 (1.1) Total assets $2,078 $2,294 $2,427 $ 2,955 $ 2,459 Capital expenditures $ «101 $ «47 $ «65 $ «285 $ «163 Depreciation and amortization $ «109 $ «106 $ «115 $ «105 $ «86 1 In 2008, units sold include the sell through of one fractional unit at CitationAir. Units sold in 2007 exclude one CitationAir delivery in which the fractional units were not sold as of the end of the year. 2 In 2009, segment profit includes a $50 million pre-tax gain on the sale of the assets of CESCOM, Cessna s aircraft maintenance tracking service line. FAST FACTS > Approximate revenues by region: U.S.: 70, Europe: 11, Latin America and Mexico: 11, Asia-Pacific: 4, Africa: 2, Middle East: 1, and Canada: 1. > Cessna has approximately 7,800 employees worldwide. > Manufacturing facilities located in Wichita and Independence, Kansas; Columbus, Georgia; and Chihuahua, Mexico. > In its 85-year history, Cessna has delivered approximately 193,000 aircraft, including more than 154,000 single-engine piston airplanes; more than 2,000 Caravans; more than 1,000 military jets and more than 6,200 Citation business jets. Cessna has delivered twice as many business jets as its closest competitor in the very light, light and midsize segments. > McCauley propellers are on more than 250,000 aircraft around the world a testimony to our continuing commitment to excellence. STRATEGIC STEPS FORWARD > Develop and manufacture innovative and customer-focused light and midsize business jets, single-engine utility turboprop and single-engine piston aircraft. > Create a globally competitive cost profile. > Grow the business by investing in new product development and block point changes to current models. > Bolster long-term customer loyalty by providing differentiated and consistently superior aftermarket solutions around the world. > Leverage and ensure alignment of key business and continuous improvement processes. > Foster an environment that attracts, develops and retains high performing talent. > Extend the Cessna brand in key international geographies. > Cessna Citations are registered in more than 90 countries and represent the largest fleet of business jets in the world. > Certified at Mach 0.92, the Citation X is the world s fastest business jet in service. > Cessna operates ten Citation Service Centers: eight across the U.S., one at Le Bourget Airport in Paris, France, and one at Prague Ruzyne Airport in Prague, Czech Republic. Cessna has announced a new European Citation Service Center to open in Spain. Authorized Independent Service Centers/Stations are located in 27 countries throughout the world. 2 TEXTRON 2011 FACT BOOK

5 Pre-owned Citations for Sale (As a percent of fleet) Number of Citations in Service by Age Distribution Number of units > 10 Years 6 10 Years < 5 Years 7,000 5, , , Source: AMSTAT and Cessna estimates Source: Cessna estimates MAJOR PRODUCTS Std/Max Maximum First Seating Capacity Cruising Range (IFR w/ Unit Price Engine Engine Delivery (Including Pilots) Speed (kts) NBAA reserves) (in millions) Manufacturer Model Avionics Citation Model Mustang ,150 $ 3.1 Pratt & Whitney PW615F Garmin G1000 M2** , Williams International FJ44-1AP Garmin G3000 CJ / , Williams International FJ44-3A-24 Collins Pro Line 21 CJ / , Williams International FJ44-3A Collins Pro Line 21 CJ / , Williams International FJ44-4A Collins Pro Line 21 XLS / , Pratt & Whitney PW545C Collins Pro Line 21 Latitude** / , Pratt & Whitney PW306C Garmin G5000 Sovereign / , Pratt & Whitney PW306C Honeywell Primus EPIC Citation X / , Rolls-Royce AE3007C1 Honeywell Primus 2000 Citation TEN** / , Rolls-Royce AE3007C2 Garmin G5000 Turboprop Model Caravan / ,060* $ 1.9 Pratt & Whitney PT6A-114A Garmin G1000 Grand Caravan / ,007* 2.0 Pratt & Whitney PT6A-114A Garmin G1000 Single-engine Piston 162 SkyCatcher * $ 0.1 Continental Motors O-200D Garmin G R Skyhawk * 0.3 Textron Lycoming IO-360-L2A Garmin G S Skyhawk SP * 0.3 Textron Lycoming IO-360-L2A Garmin G T Skylane * 0.4 Textron Lycoming IO-540-AB1A5 Garmin G1000 T182T Turbo Skylane * 0.4 Textron Lycoming TIO-540-AK1A Garmin G H Stationair * 0.6 Textron Lycoming IO-540-AC1A5 Garmin G1000 T206H Turbo Stationair * 0.6 Textron Lycoming TIO-540-AJ1A Garmin G1000 Corvalis TTX ,229* 0.7 Continental Motors TSIO-550-C Garmin G2000 * 45 minute fuel reserve ** Subject to escalation New Jet Model First Delivery 2004 CJ3 Sovereign 2005 CJ CJ2+ Mustang 2007 Encore XLS CJ Business Jet Price Points (Dollars in millions) Citation Mustang $3.1 Citation product line Competition Phenom 100 $3.8 Premier 1A $6.6 Citation CJ2+ $7.0 Phenom 300 $8.1 Citation CJ3 $8.2 Citation CJ4 $9.0 Learjet 40XR $10.6 Citation XLS+ $12.6 Learjet 45XR $12.8 Hawker 750 $13.0 Learjet 60XR $13.9 Gulfstream G150 $15.1 Hawker 900XP $15.8 Citation Sovereign $17.6 Citation X $21.7 Hawker 4000 $22.0 Glufstream G200 $23.3 Challenger 300 $24.3 Legacy 600 $27.5 Source: 2011 B&CA Buyers Guide and Cessna estimates TEXTRON 2011 FACT BOOK 3

6 Bell Helicopter Total Sales Bell Helicopter Sales Breakdown Military 65 Commerical 35 Marines 80 Army 9 Air Force 9 Other 2 U.S. Military sales only BELL HELICOPTER Bell s Helicopter s share of 31 Textron 2011 revenues Bell Helicopter is an industry-leading producer of commercial and military vertical lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, inno - vation and superior quality, Bell Helicopter s global workforce serves customers flying Bell Helicopter aircraft in more than 140 countries. KEY DATA (Dollars in millions) Bell Helicopter Units sold: U.S. government Commercial International military Backlog 1 $7,346 $6,473 $6,192 $6,192 $3,809 Revenues $3,525 $3,241 $2,842 $2,827 $2,581 Segment profit $ «521 $ «427 $ «304 $ «278 $ «144 Segment profit margin Total assets $2,247 $2,079 $2,059 $2,167 $1,850 Capital expenditures $ «184 $ «123 $ «101 $ «138 $ «78 Depreciation and amortization $ «95 $ «92 $ «83 $ «71 $ «59 1 Backlog for 2010 and 2009 has been revised from the amount previously reported, primarily to correct an error made in the fourth quarter of 2009 when the full value of a V-22 contract was included in backlog rather than Bell s proportionate share. FAST FACTS > Approximate revenues by region: U.S.: 76, Asia Pacific: 9, Latin America and Mexico: 5, Canada: 3, Middle East: 3, Africa: 2, and Europe: 2. > At the end of 2011, Bell Helicopter had approximately 10,700 employees, of which 19 were located outside the US. > Major facilities are located in Fort Worth, Texas; Amarillo, Texas; Corpus Christi, Texas; Ozark, Alabama; Bristol, Tennessee; and Mirabel, Quebec, Canada. > Approximately 13,000 Bell Helicopter aircraft are flying in more than 140 countries. > One third of the world fleet carry the Bell Helicopter brand. > Worldwide service network of 109 strategically located Bell Helicopter owned service facilities and independent service centers. > Ranked #1 in customer service and support by Professional Pilot magazine for 18 consecutive years and by Aviation International News for six consecutive years. STRATEGIC STEPS FORWARD > Continue to ramp-up production of the V-22 for the U.S. Marine Corps, Air Force Special Operations Forces and market to other U.S. Department of Defense and international customers. > Successfully ramp-up production of the UH-1Y utility helicopter and AH-1Z attack helicopter and pursue international opportunities. > Relentlessly focus on meeting the mission needs of commercial customers and improve global competitive position. > Strengthen the commercial product line by upgrading existing products, developing derivatives and introducing new models. > Develop Bell Helicopter s global business through increased local presence with a stronger sales and marketing team. > Continue to grow Bell Helicopter s integrated service and support business through geographic and service offering expansion. > Strengthen cost competitiveness through continued improvement in worldwide manufacturing footprint and modernizing business systems. 4 TEXTRON 2011 FACT BOOK

7 MAJOR PRODUCTS First Seating Capacity Useful Cruising Maximum Bell Helicopter Description Delivery (Including Pilots) Load (lbs) Speed (kts) Range (nm) Light 206L-4 Long Ranger Light single-engine, extended cabin version of the Jet Ranger , Light single-engine, high performance multi-mission helicopter , GX Light single-engine, helicopter with fully integrated glass cockpit , AH Light single-engine, commercially qualified armed helicopter , Light twin-engine helicopter, best-in-class cabin volume , Medium 412 EP Twin-engine with highest dispatch reliability and the lowest hourly cost , Relentless Twin-engine with ARC Horizon flight deck system TBD 18 +4, Military OH-58D Kiowa Warrior Armed reconnaissance helicopter for U.S. Army , TH-67 Trainer Military training helicopter , Huey II Upgrade of U.S. Army and worldwide UH-1H model Huey , UH-1Y State of the art fully integrated utility and combat support helicopter , AH-1Z State of the art fully integrated weapons system attack helicopter , Tiltrotor Bell Boeing V-22 Osprey Military tiltrotor aircraft, being produced in partnership with Boeing , ,100 COMMERCIAL BUSINESS > Industry norms project on average 3 4 times original delivery price in aftermarket revenues over the nominal year lifetime of a typical commercial airframe. > Bell 407GX and Bell 407AH introduced, providing enhanced capabilities to the proven reliability of the Bell 407. > Bell 429 received Transport Canada approval for a 500 lb. weight increase directly translating to greater range and loiter times. FAA and EASA approval in process. > Announced the world s first super-medium helicopter, the Bell 525 Relentless, featuring a state of the art ARC Horizon flight deck. Commercial Product Price Points (Dollars in millions) Enstrom 480 $1.1 Bell Helicopter Competition EC 120 $1.7 MD 500E $1.8 AS 350 B2 $1.9 MD 520N $2.0 MD 600N $2.1 Bell 206L-4 $2.2 AS 350 B3 $2.2 EC 130 $2.4 Bell 407 $2.7 Bell 407GX $2.8 A 119VFR $3.4 AS 355NP $3.3 EC 135 $4.7 Bell 429 $5.5 A 109E Power $5.8 EC 145 $6.0 MD 902 $6.2 A 109 Grand $6.4 Bell 412EP $9.4 EC 155B1 $9.5 S 76C++ $10.6 AW 139 $13.4 S-92 $23.3 MILITARY BUSINESS > Bell s broad military product line covers the entire spectrum of missions from armed reconnaissance (OH-58D), to attack /utility (AH-1Z / UH-1Y) and tiltrotor (V-22) and are applicable to current and future conflicts. > V-22 aircraft deployed in land-based operations in Afghanistan/Operation Enduring Freedom and Iraq/Operation Iraqi Freedom and sea-based operations in Haiti and the Horn of Africa have demonstrated excellent in-theater performance. > AH-1Z program has entered full rate production. > OH-58D is the close air support aircraft of choice and has more than 750,000+ combat hours. SinglesTwins Source: Conklin & Decker ACE, 2011 Vol II TEXTRON 2011 FACT BOOK 5

8 Textron Systems Sales Breakdown By Product Line By Military Branch* Weapons and Sensors 16 Mission Support 19 Land and Marine Systems 28 Navy 3 Other 6 Air Force 11 Army 80 Unmanned Aircraft Systems 37 *U.S. Military sales only TEXTRON SYSTEMS Textron Systems share of 17 Textron 2011 revenues Textron Systems is a respected solutions company, addressing key problems at home and abroad for Defense and Security customers by rapidly delivering affordable innovations that work, including unmanned aircraft systems, land and marine systems, smart weapons and sensors, and various mission support services. KEY DATA (Dollars in millions) Textron Systems Revenues $1,872 $1,979 $1,899 $1,880 $1,114 Segment profit $ «141 $ «230 $ «240 $ «251 $ «174 Segment profit margin Backlog $1,337 $1,598 $1,664 $2,190 $2,144 Total assets $1,948 $1,997 $1,973 $2,077 $2,370 Capital expenditures $ «37 $ «41 $ «31 $ «34 $ «33 Depreciation and amortization $ «85 $ «81 $ «85 $ «85 $ «41 FAST FACTS > Approximate revenues by region: U.S.: 76, Asia Pacific: 13, Middle East: 7, Europe: 3, and Latin America and Mexico: 1. > Textron Systems had approximately 5,000 employees at year end > Manufacturing facilities are located in Tustin, CA; New Orleans, LA; Slidell, LA; Wilmington, MA; Hunt Valley, MD; Williamsport, PA; Goose Creek, SC; Austin, TX; Sterling, VA; Notting Hill, Australia; Hamble, England. > More than 710,000 flight hours and 160,000 flights logged by the Shadow Tactical Unmanned Aircraft System, primarily in support of combat operations in both Iraq and Afghanistan. > 117 Shadow Tactical Unmanned Aircraft Systems have been ordered by the U.S. Army, Army Reserves, Army National Guard, Marine Corps and USSOCOM; Orders from Sweden, Italy and Australia indicate the growing demand from international customers. > Over 3,000 One System Remote Video Terminal units already delivered and fielded. > Over 3,135 Armored Security Vehicles (ASV) and variants delivered to the U.S. Army and international customers. > Approximately 5,000 Sensor Fuzed Weapons (SFW) delivered to the U.S. Air Force (USAF) with an additional 512 ordered by India and interest in over 1,300 from Saudi Arabia. > 37,000-plus active Overwatch software licenses across U.S. intelligence agencies, military branches and unified commands. > More than 325,000 engines designed and built during Lycoming s 80 years in aviation over 200,000 of which are still in operation worldwide more than half of the world s piston powered rotary-wing and fixed-wing general aviation fleet. STRATEGIC STEPS FORWARD > Continue to implement and expand solutions for addressing current and emerging needs for intelligence, surveillance and reconnaissance (ISR), force protection, precision weapons, force mobility, and related services and support. > Expand our global presence and customer base to address worldwide demand. > Strengthen our position as the global supplier of Unmanned Aircraft Systems (UAS) and associated training, support and services for tactical missions and commercial applications by: sustaining and expanding the Shadow and Aerosonde UAS product lines and adding new UAS offerings to the portfolio; leveraging UAS electronics, software and network capabilities to expand One System / C4ISRT (Command, Control, Communications, Computers, Intelligence, Surveillance, Reconnaissance and Targeting) product. > Leverage installed base of intelligence and analysis applications to expand into adjacent product and service areas across U.S. and international militaries and agencies. > Utilize our growing vehicle mobility and survivability capabilities to address emerging domestic and international tactical vehicle requirements, while executing on current Armored Security Vehicle (ASV), Armored Knight and Mobile Strike Force Vehicle production and support contracts. > Expand our role as provider of smart area attack weapons, networked ground munitions, unattended ground sensors, and compliant systems that minimize risk to noncombatants, while continuing to leverage our precision weapons expertise and solutions to meet the demands of today s complex and ever-changing battlefield. > Continue to design, build and test aviation engine products with focused efforts on alternative fuels, unmanned platforms and other new applications. 6 TEXTRON 2011 FACT BOOK

9 MAJOR PRODUCTS Product Line Unmanned Aircraft Systems Unmanned Aircraft Systems (UAS) and Ground Control Stations (GCS) Land and Marine Systems Armored Security Vehicle (ASV), Armored Knight and Mobile Strike Force Vehicle Landing Craft Air Cushion (LCAC) Motor Life Boat (MLB) Weapons and Sensors Area Denial & Surveillance Systems Smart Weapons Mission Support Mission Support Services Test Systems & Training Simulators Intelligence Software Solutions Future Technologies Lycoming Aircraft Engines Description Multi-mission unmanned aircraft including the U.S. Army and Marine Corps Shadow tactical UAS, Aerosonde, Orbiter and recently announced Shadow M2 and interoperable, networked One System command and control technologies for a variety of UAS, including the Army s extended-range, multipurpose Gray Eagle. Advanced wheeled combat vehicles used by U.S. and international armed forces, including the ASV 4X4 armored vehicle, the Armored Knight for observation and target designation missions, and the new Mobile Strike Force Vehicle which includes three highly survivable, mobile variants currently being deployed by the Afghanistan National Army. LCAC is the cornerstone of the current U.S. amphibious capability. In service with the U.S. Coast Guard, 117 MLBs fulfill multi-mission roles along the U.S. Atlantic and Pacific coasts. MLBs are also in use by agencies and militaries in Canada, Egypt and Mexico. Real-time distributed networked systems autonomously detect, classify, report and engage threats with man-in-the-loop control. Products include urban and tactical unattended ground sensors (UGS) and the Spider XM-7 force protection system. Family of products includes the Sensor Fuzed Weapon. Leading unmanned systems services as well as comprehensive life cycle support, sustainment and operational services for defense and security equipment worldwide. Innovative electronic warfare, aircraft system, missile warning system and other test equipment for the lab, training range, depot, flight line, and factory, as well as high-fidelity training devices and solutions. Multi-source intelligence, geospatial analysis and custom intelligence solutions to the Department of Defense, national agencies and civilian organizations, including intelligence software for the U.S. Army s Distributed Common Ground System (DCGS-A), Army s Human Terrain System (HTS), and critical data fusion, exploitation, and analysis tools for the National Geospatial Intelligence Agency and others. Maturing Lightweight Small Arms Technologies (LSAT) and associated ammunition as well as Unmanned Surface Vessels (USV) have successfully undergone field tests and are gaining interest of customers. Piston aviation engines, including OEM, rebuilt, and overhauled engines as well as a full line of cylinders and spare parts for the general aviation and experimental segment. The ie2 Integrated Electronic Engine Platform a piston aviation engine system that reduces pilot workload, improves economy and allows airplanes to fly on alternative fuels as well as lighter, alternative fuels capable engines for Light Sport Aircraft and other growing markets. TEXTRON 2011 FACT BOOK 7

10 INDUSTRIAL Industrial s share of 25 Textron 2011 revenues The Industrial segment consists of four businesses that manufacture and market branded industrial products worldwide. KEY DATA (Dollars in millions) Industrial 1 Revenues $2,785 $2,524 $2,078 $2,918 $2,825 Segment profit $ «202 $ «162 $ «27 $ «67 $ «173 Segment profit margin Total assets $1,664 $1,604 $1,623 $1,788 $1,916 Capital expenditures $ «94 $ «51 $ «38 $ «69 $ «83 Depreciation and amortization $ «72 $ «72 $ «76 $ «83 $ «79 1 In 2008, we completed the sale of our Fluid & Power business, which was in the Industrial segment. This business has been reclassified into discontinued operations and all periods presented have been recast to reflect this presentation. FAST FACTS > Approximate revenues by region: Europe: 40, U.S.: 34, Asia Pacific: 12, Latin America and Mexico: 9, Canada: 4, Middle East: 1. > At the end of 2011, Textron s Industrial segment had approximately 7,900 employees of which 68 were based outside of the U.S. > Manufacturing facilities are located in 15 countries: Belgium, Brazil, Canada, China, the Czech Republic, Germany, Japan, Mexico, Poland, Portugal, Romania, Slovakia, Spain, the United Kingdom and the United States. STRATEGIC STEPS FORWARD Kautex is a leading global system supplier to the automotive industry. The company develops and produces plastic fuel systems, automotive clear vision systems (windshield and headlamp washer systems), selective catalytic reduction systems, engine camshafts and blow-molded industrial packaging products. > Global expansion Opening of R&D center in Guangzhou/China; start of new production facilities in Chongqing/China, Silao/Mexico and Romania; continue expansion into growing markets. > Innovation focus Develop plastic solution for hybrid fuel tanks; Introduce Next Generation Carbon Canister (NGCC). > Product offering - Support customer needs to reduce emissions with Next Generation Fuel Tank (NGFS) product (Co2 emission reduction) and second gen Selective Catalytic Reduction System (SCR) to reduce NOx emission, globally. E-Z-GO is a leading global light transportation vehicle designer and manufacturer for golf courses, municipalities, consumers and government, commercial and industrial users. Products include electric and internal combustion golf cars and multipurpose utility vehicles under the E-Z-GO, Cushman and Bad Boy Buggies brands. > Build sales to consumers through new product offerings, particularly in growth areas such as electrically powered 4x4 vehicles. > Expand retail sales distribution via organic growth of independent dealer network as well as entry into large national retailers. > Grow presence in industrial, commercial and government sectors. Jacobsen offers a comprehensive line of turf-care products for golf courses, sporting venues, airports and municipalities, as well as commercial and industrial users. Products include professional turf maintenance equipment and specialized turf-care vehicles. > Improve our North American channel to better support our customers before and after the sale. > Increase presence in municipal sales channels to find more outlets for our equipment. > Expand our global presence, especially in Asia and Latin America. Greenlee offers the most complete line-up of tools, test equipment and accessories a wire or cable installer needs to complete the job. Electrical, telecom, industrial, plumbing and voice/data/video contractors depend on Greenlee to deliver high quality, innovative solutions that drive workforce efficiency and safety on a daily basis. > Expand sales in developing and adjacent markets. > Accelerate innovative product development focused on enhancing contractor total cost productivity. > Improve communications business performance through new and innovative products and services. 8 TEXTRON 2011 FACT BOOK

11 Sources of Funding (As of December 31, 2011) Captive Finance Receivables (As of December 31, 2011) Non-Captive Finance Receivables (As of December 31, 2011) $2.9 billion Long-Term Debt 27 Due to Manufacturing Group 17 Securitization 16 EXIM/EDC 15 Equity 14 Subordinated Debt 11 $1.9 billion Cessna 67 Independent Aviation 16 Bell Helicopter 13 Golf Equipment 4 $950 million Golf Mortgage 40 Timeshare 33 Structured Capital 22 Other 5 FINANCE SEGMENT Finance s share of 1 Textron 2011 revenues The Finance segment provides financing to customers purchasing products manufactured by Textron Inc. Textron Financial Corporation and three other finance subsidiaries, which provide financing through funding from our credit facilities with the Export-Import Bank of the United States (EXIM) and Export Development Canada (EDC), comprise the Finance Segment. The segment includes $950 million in non-captive finance receivables, which are in the process of being liquidated. Finance Receivable Liquidation (Dollars in millions) Non-Captive Captive 12,000 9,000 6,000 3,000 KEY DATA (Dollars in millions) Textron Finance Segment Finance receivables held for investment $2,477 $4,213 $6,206 $ 6,915 $ 8,603 Finance receivables held for sale $ «418 $ «413 $ «819 $ 1,658 $ «Managed finance receivables 1 $2,895 $4,626 $7,055 $10,821 $11,123 Net interest margin 2 (0.28) day + delinquency Nonaccrual Allowance for losses, of finance receivables held for investment Net charge-offs, of average finance receivables held for investment Debt to shareholder s equity 4.78x 6.41x 6.72x 6.85x 6.42x Revenues $ «103 $ «218 $ «361 $ «723 $ «875 Segment (loss) profit 5 $ (333) $ (237) $ (294) $ (50) $ «222 Total assets $3,213 $4,949 $7,512 $ 9,344 $ 9,383 Dividends paid to Textron Inc. $ «179 $ «505 $ «349 $ «142 $ «144 Capital contributions paid to Finance group $ «182 $«383 $ «270 $ «625 $ «1 Managed finance receivables are owned receivables and receivables that continue to be serviced, but have been sold in securitizations or similar structures, where risks of ownership have been retained to the extent of our subordinated interests. 2 Net interest margin represents revenues earned less interest expense on borrowings and operating lease depreciation as a percentage of average net investment. Average net investment includes finance receivables plus operating leases, less deferred taxes on leveraged leases. 3 Improvement in delinquency statistics in 2011 was primarily due to the transfer of the remaining Golf Mortgage portfolio from held for investment to the held for sale classification, along with the resolution of several Timeshare accounts. 4 Average finance receivables include both finance receivables held for investment and held for sale. 5 Segment profit (loss) represents the measurement used by Textron for evaluating performance and for decisionmaking purposes. Segment profit (loss) for the Finance segment excludes special charges and includes interest income and expense along with intercompany interest expense. In 2011, segment profit (loss) includes a $186 million initial mark-to-market adjustment for remaining finance receivables in the Golf Mortgage portfolio that were transferred to the held for sale classification. Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 TEXTRON 2011 FACT BOOK 9

12 FINANCIAL DATA (Dollars in millions, except per share amounts) Q1 Q2 Q3 Q4 Year Q1 Q2 Q3 Q4 Year Revenues Cessna $ 556 $ «652 $ «771 $1,011 $ 2,990 $ «433 $ «635 $ «535 $ «960 $ 2,563 $ 3,320 $ 5,662 $ 5,000 Bell ,010 3, ,241 2,842 2,827 2,581 Textron Systems , ,979 1,899 1,880 1,114 Industrial , ,524 2,078 2,918 2,825 Finance Total Revenues $2,479 $2,728 $2,814 $3,254 $11,275 $2,210 $2,709 $2,479 $3,127 $10,525 $10,500 $14,010 $12,395 Segment Profit 2 Cessna $ (38) $ «5 $ «33 $ «60 $ «60 $ (24) $ «3 $ (31) $ «23 $ (29) $ «198 $ «905 $ «865 Bell Textron Systems (8) Industrial Finance 4 (44) (33) (24) (232) (333) (58) (71) (51) (57) (237) (294) (50) 222 Total Segment Profit $ «123 $ «196 $ «236 $ «36 $ «591 $ «96 $ «161 $ «112 $ «184 $ «553 $ «475 $ 1,451 $ 1,578 Segment Profit Margins Cessna (6.8) (5.5) 0.5 (5.8) 2.4 (1.1) Bell Textron Systems (1.6) Industrial Finance (169.2) (100.0) (75.0) (1,933.3) (323.3) (76.3) (126.8) (86.4) (211.1) (108.7) (81.4) (6.9) 25.4 Total Profit Margin Special charges 5 (12) (10) (114) (54) (190) (317) (526) Corporate expenses and other, net (39) (23) (13) (39) (114) (37) (17) (35) (48) (137) (164) (171) (257) Interest expense, net for the Manufacturing group (38) (38) (37) (27) (140) (36) (35) (32) (37) (140) (143) (125) (87) Income tax benefit (expense) (15) (43) (50) 13 (95) (15) (18) (305) (368) Income (loss) from Continuing Operations $ «31 $ «92 $ «136 $ (17) $ «242 $ (4) $ «81 $ (48) $ «63 $ «92 $ (73) $ «324 $ «866 EPS from Continuing Operations Diluted 6 $ 0.10 $ 0.29 $ 0.45 $«(0.06) $ 0.79 $«(0.01) $ 0.27 $«(0.17) $ 0.20 $ 0.30 $ «(0.28) $ 1.29 $ 3.40 Effective Income Tax Rate (40.0) (6.4) (51.0) Common Stock Information 6 Price range: High $28.87 $28.65 $25.17 $20.41 $28.87 $23.46 $25.30 $21.52 $24.18 $ $ $ $ Low $23.50 $20.86 $14.66 $16.37 $16.37 $17.96 $15.88 $16.02 $19.92 $ $ 3.57 $ $ Dividends declared per share $ 0.02 $ 0.02 $ 0.02 $ 0.02 $ 0.08 $ 0.02 $ 0.02 $ 0.02 $ 0.02 $ 0.08 $ 0.08 $ 0.92 $ 0.85 Diluted average shares outstanding (in thousands) 7 319, , , , , , , , , , , , ,826 1 In 2009, we sold the HR Textron business, which was in the Textron Systems segment, and in 2008, we completed the sale of our Fluid & Power business, which was in the Industrial segment. Both of these businesses have been reclassified into discontinued operations, and all periods presented have been recast to reflect this presentation. 2 Segment profit is an important measure used for evaluating performance and for decision-making purposes. Segment profit for the manufacturing segments excludes interest expense, certain corporate expenses and special charges. The measurement for the Finance segment excludes special charges includes interest income and expense along with intercompany interest expense. 3 The fourth quarter of 2011 includes a $41 million impairment charge to write down certain intangible assets and approximately $19 million in severance costs related to a workforce reduction at the segment. 4 The fourth quarter of 2011 includes a $186 million initial mark-to-market adjustment for remaining finance receivables in the Golf Mortgage portfolio that were transferred to the held for sale classification in the quarter. 5 Special charges include restructuring charges of $99 million, $237 million and $64 million in 2010, 2009 and 2008, respectively, primarily related to severance and asset impairment charges. In 2010, special charges also include a $91 million non-cash pre-tax charge to reclassify a foreign exchange loss from equity to the income statement as a result of substantially liquidating a Finance segment entity. In 2009, special charges include a goodwill impairment charge of $80 million in the Industrial segment. In 2008, special charges include charges related to strategic actions taken in the Finance segment to exit portions of the commercial finance business, including an impairment charge of $169 million for unrecoverable goodwill and the initial valuation allowance adjustment of $293 million related to the designation of a portion of finance receivables as held for sale. 6 For the fourth quarter of 2011, the first and third quarters of 2010, and for 2009, the potential dilutive effect of stock options, restricted stock units and the shares that could be issued upon the conversion of our convertible notes and upon the exercise of the related warrants was excluded from the computation of diluted weighted-average shares outstanding as the shares would have an anti-dilutive effect on the loss from continuing operations. 7 Diluted average shares outstanding assumes the exercise of stock options, restricted stock units, and the shares that could be issued upon the conversion of our convertible notes and the exercise of the related warrants. 10 TEXTRON 2011 FACT BOOK

13 SELECTED FINANCIAL STATISTICS (Dollars in millions, except where noted and per share amounts) Income Statement Data Revenues $11,275 $10,525 $10,500 $14,010 $12,395 Segment profit ,451 1,578 Special charges (190) (317) (526) Corporate expenses and other, net (114) (137) (164) (171) (257) Interest expense, net for Manufacturing group (140) (140) (143) (125) (87) Income tax benefit (expense) (95) 6 76 (305) (368) Effective tax rate 28.2 (6.4) (51.0) Income from continuing operations $ «242 $ «92 $ (73) $ «324 $ «866 Diluted EPS from continuing operations $ 0.79 $ 0.30 $ «(0.28) $ 1.29 $ 3.40 Balance Sheet Data Manufacturing Group Cash and equivalents $ «871 $ «898 $ 1,748 $ «531 $ «471 Accounts receivable, net Inventories 2,402 2,277 2,273 3,093 2,536 Property, plant and equipment, net 1,996 1,932 1,968 2,088 1,894 Goodwill 1,635 1,632 1,622 1,698 1,883 Total assets from continuing operations 10,402 10,333 11,428 10,353 9,859 Total debt 2,459 2,302 3,584 2,569 2,146 Total liabilities from continuing operations 8,070 7,933 9,445 9,205 7,737 Shareholders equity 2,745 2,972 2,826 2,366 3,507 Non-GAAP Cash Flow Calculations Manufacturing Group Net cash provided by operating activities of continuing operations GAAP $ «761 $ «730 $ «738 $ «407 $ 1,144 Less:Capital expenditures (423) (270) (238) (537) (369) Dividends received from TFC (179) (505) (349) (142) (135) Plus:Capital contributions paid to TFC Proceeds on sale of property, plant and equipment Total pension contributions Manufacturing cash flow before pension contributions Non-GAAP 2 $ 1,000 $ «759 $ «503 $ «432 $ «696 Cash Flow Items Manufacturing Group Depreciation and amortization $ «371 $ «362 $ «373 $ «360 $ «282 Net cash used in acquisitions (14) (57) (109) (1,092) Net proceeds from sale of businesses (14) Net change in debt (288) (1,199) Dividends paid (22) (22) (21) (284) (154) Purchases of Textron common stock (533) (304) Total number of shares purchased (in thousands) 11,646 5,884 Key Ratios Segment profit margin Selling and administrative expenses as of sales Inventory turns (based on FIFO) 2.8x 2.7x 2.6x 3.7x 3.9x Ratio of income to fixed charges Manufacturing group 4.22x 3.67x 2.29x 4.95x 9.50x Debt-to-capital (net of cash) Manufacturing group Stock-Related Information Stock price at year-end $ $ $ $ $ Dividends declared per share $ 0.08 $ 0.08 $ 0.08 $ 0.92 $ 0.85 Dividend payout ratio (29) Other Statistics Number of employees at year-end 32,000 32,000 32,000 43,000 42,000 Average revenues per employee (in thousands) $ «354 $ «327 $ «293 $ «342 $ «331 1 In 2011, we changed the definition of our non-gaap cash flow measure to exclude all pension contributions. Prior periods have been recast to conform to this presentation. 2 Free cash flow is not a financial measure under generally accepted accounting principles (GAAP) and should be used in conjunction with GAAP cash measures provided in our Consolidated Statement of Cash Flows. Free cash flow is a measure generally used by investors, analysts and management to gauge a company s ability to generate cash from operations in excess of that necessary to be reinvested to sustain and grow the business and fund its obligations. Our definition of Manufacturing cash flow before pension contributions adjusts net cash from operating activities of continuing operations for dividends received from TFC, capital contributions provided under the Support Agreement, capital expenditures, proceeds from the sale of property, plant and equipment and contributions to our pension plans. We believe that our calculation provides a relevant measure of liquidity and is a useful basis for assessing our ability to fund operations. Our Manufacturing free cash flow measure may not be comparable with similarly titled measures reported by other companies, as there is no definitive accounting standard on how the measure should be calculated. TEXTRON 2011 FACT BOOK 11

14 RETURN ON INVESTED CAPITAL (ROIC) (Dollars in millions) ROIC Income Income from continuing operations 1 $ «242 $ «92 $«(73) $ «324 $ «866 Interest expense for Manufacturing group Operating income from acquisitions 2 Special charges and gain on sale of businesses/product lines Operating results of business units in discontinued operations, net of taxes Other adjustments (2) ROIC Income $ «330 $ «335 $ ««250 $ «892 $ «969 Invested Capital at End of Year Total shareholders equity $2,745 $2,972 $«2,826 $2,366 $3,507 Total Manufacturing group debt 2,459 2,302 3,584 2,569 2,146 Loan to Finance group (490) (315) (413) (133) Cash and cash equivalents for Manufacturing group (871) (898) (1,748) (531) (471) Net cash used by Manufacturing group for acquisitions (14) (57) (109) (1,092) Eliminate special charges, net of income taxes Eliminate net cash proceeds from sale of business Eliminate impact of gain on sale of businesses/product lines (8) (111) Invested Capital at End of Year, as Adjusted 3,829 4,157 4,759 4,877 4,090 Invested Capital at Beginning of Year 3 4,061 4,249 4,271 5,184 3,716 Average Invested Capital $3,945 $4,203 $«4,515 $5,031 $3,903 Return on Invested Capital In 2011, income from continuing operations includes the following pre-tax items: $41 million non-cash impairment charge to write down certain intangible assets and approximately $19 million in severance costs at Textron Systems, $186 million non-cash initial mark-to market adjustment for remaining finance receivables in the Golf Mortgage portfolio that were transferred to the held for sale classification in the Finance Segment, and $55 million loss on the extinguishment of convertible notes, which was substantially offset by a $52 million gain on collection of notes receivable from the sale of a business in Includes HR Textron (2009) and Fluid & Power (2008). 3 Includes amounts classified as discontinued operations at the end of ROIC is a non-gaap financial measure that our management believes is useful to investors as a measure of performance and of the effectiveness of the use of capital in our operations. We measure performance based on our return on invested capital (ROIC), which is calculated by dividing ROIC income by average invested capital. ROIC income includes income from continuing operations and adds back after-tax amounts for 1) interest expense for the Manufacturing group, 2) special charges, 3) gains or losses on the sales of businesses or product lines and 4) operating results related to operations discontinued during the period. At the beginning of the year, our invested capital represents total shareholders equity and Manufacturing group debt, less its cash and cash equivalents and the loan to the Finance group. At the end of the year, we typically adjust ending invested capital for significant events unrelated to our normal operations for the year such as acquisitions, dispositions and special charges. 12 TEXTRON 2011 FACT BOOK

15 BUSINESS DIRECTORY STOCK INFORMATION World Headquarters Textron Inc. 40 Westminster Street Providence, RI (401) Bell Helicopter Bell Helicopter P.O. Box 482 Ft. Worth, TX (817) Textron Systems Textron Systems 201 Lowell Street Wilmington, MA (978) Cessna Cessna Aircraft Company P.O. Box 7706 Wichita, KS (316) Textron Financial Textron Financial Corporation 40 Westminster Street Providence, RI (401) Investors Douglas R. Wilburne Vice President, Investor Relations (401) (401) (fax) Rebecca C. Rosenbaum Manager, Investor Relations (401) (401) (fax) Banks and Rating Agencies Mary F. Lovejoy Vice President and Treasurer (401) (401) (fax) Media Adele J. Suddes Vice President, Communications (401) (401) (fax) Dave Sylvestre Director, Communications (401) (401) (fax) Stock Exchange Listings Ticker Symbol TXT Common Stock New York Stock Exchange Transfer Agent and Registrar American Stock Transfer & Trust Company, LLC Operations Center th Ave Brooklyn, NY (866) Capital Stock (as of December 31, 2011) Common Stock: par value $0.125 per share 500,000,000 shares authorized 278,873,000 shares outstanding Dividends Common Stock Record dates: March 11, June 10, September 9 and December 9, 2011 Payable dates: April 1, July 1, October 1, 2011 and January 1, 2012 Stock Splits Record dates: December 17, 1965; August 11, 1967; May 11, 1987; May 9, 1997 and August 3, 2007 Distribution dates: January 1, 1966; September 1, 1967; June 1, 1987; May 30, 1997 and August 24, 2007 Share Ownership (Estimated as of December 31, 2011) U.S. Institutions 73 Employees, Directors & Officers 13 Individual & Other 8 Foreign Institutions 6 Industrial Kautex Kautexstrasse Bonn Germany Greenlee 4455 Boeing Drive Rockford, IL (815) E-Z-GO 1451 Marvin Griffin Road Augusta, GA (706) Jacobsen Quality Drive Charlotte, NC (704) This Fact Book is one of several sources of information available to Textron Inc. shareholders and the investment community. To receive a copy of Textron s Forms 10-K, 10-Q, Proxy Statement or Annual Report, visit our web site at call (888) TXT-LINE or send your written request to Textron Investor Relations at the address listed above. For the most recent company news and earnings press releases, visit our web site at or call (888) TXT-LINE.

16 Legal Entities Avco Corporation ( Avco ) is a wholly owned subsidiary of Textron Inc. Bell Helicopter Textron Inc. ( Bell Helicopter ) is a wholly owned subsidiary of Textron Inc. Bell Helicopter consists of several subsidiaries and operating divisions. The Textron Systems group of businesses includes AAI Unmanned Aircraft Systems, AAI Test & Training, AAI Logistics & Technical Services, and Textron Systems Advanced Systems each of which is an unincorporated division of AAI Corporation; Overwatch Systems Ltd.; Textron Systems Corporation (d/b/a Textron Defense Systems); Lycoming Engines, an operating division of Avco; and the Textron Marine & Land Systems Division of Textron Inc. AAI Corporation, Overwatch Systems Ltd., and Textron Systems Corporation are subsidiaries of Avco. Cessna Aircraft Company is a wholly owned subsidiary of Textron Inc. Kautex conducts its business through a number of separately incorporated companies and other operations. The Greenlee business unit consists of various legal entities, including but not limited to Greenlee Textron Inc.,a wholly owned subsidiary of Textron Inc. Textron Financial Corporation ( Textron Financial ) is a wholly owned subsidiary of Textron Inc. Textron Financial consists of several subsidiaries and operating divisions. Trademarks/ Tradenames AAI; AH-1Z; Bad Boy Buggies; Bell Helicopter; Bravo; Cadillac Gage; Caravan; Caravan 675; Caravan Amphibian; Cessna; Cessna 350; Cessna 400; Citation; Citation Encore+; CitationAir; CitationAir Jetcard; Citation Latitude; Citation M2; Citation TEN; Citation X; Cessna Corvalis TTX; Citation XLS+; Citation Sovereign; CJ1+; CJ2+; CJ3; CJ4; Clairity; CLAW; Corvalis; Cushman; Eclipse; Excel; E-Z-GO; Grand Caravan; Greenlee; H-1; Huey; Huey II; IE2; Jacobsen; Kautex; Kiowa Warrior; Klauke; Lycoming; M1117 ASV; McCauley; Mustang; NGFS; Next Generation Fuel System; Overwatch; Paladin; PDCue; Power Advantage; Progressive; ProParts; Relentless; Rothenberger LLC; RXV; Sensor Fuzed Weapon; SERVICEDIRECT; SHADOW; Sovereign; SkyBOOKS; SkyPLUS; SkyCatcher; Skyhawk; Skyhawk SP; Skylane; ST4X4; Stationair; Super Cargomaster; SuperCobra; SYMTX; TDCue; Tempo; Textron; Textron Defense Systems; Textron Financial Corporation; Textron Marine & Land Systems; Textron Systems; Turbo Skylane; Turbo Stationair; UAV SYSTEMS SPECIALIST; UH-1Y; V-22 Osprey; 2FIVE; 206; 407; 407AH; 407GX; 412 and 429 Forward Looking Statements Certain statements in this Fact Book and other oral and written statements made by us from time to time are forward-looking statements which may describe strategies, goals, outlook or other non-historical matters, or project revenues, income, returns or other financial measures. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. In addition to those factors described in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q under Risk Factors, among the factors that could cause actual results to differ materially from past and projected future results are the following: Changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government s ability to unilaterally modify or terminate its contracts with us for the U.S. Government s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; our Finance segment s ability to maintain portfolio credit quality or to realize full value of receivables and of assets acquired upon foreclosure of receivables; our ability to access the capital markets at reasonable rates; performance issues with key suppliers, subcontractors or business partners; legislative or regulatory actions impacting our operations or demand for our products; our ability to control costs and successfully implement various cost-reduction activities; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; the extent to which we are able to pass raw material price increases through to customers or offset such price increases by reducing other costs; increases in pension expenses or employee and retiree medical benefits; uncertainty in estimating reserves, including reserves established to address contingent liabilities, unrecognized tax benefits, or potential losses on our Finance Segment s receivables; difficult conditions in the financial markets which may adversely impact our customers ability to fund or finance purchases of our products; and continued volatility in the economy resulting in a prolonged downturn in the markets in which we do business.