BInc-Profile-Strategy-and-Market-FEB-2015-en3

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Bombardier Inc.

Profile, Strategy andMarket

FEBRUARY 2015

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Forward-Looking Statements

2

All amounts are expressed in U.S. dollars unless otherwise indicatedThis presentation contains both IFRS and non-GAAP measures. Non-GAAP measures are defined andreconciled to the most comparable IFRS measures in our MD&A. See Caution regarding Non-GAAPmeasures at the end of this presentation

This presentation includes forward-looking statements, which may involve, but are not limited to: statements with respect to theCorporation's objectives, guidance, targets, goals, priorities, market and strategies, financial position, beliefs, prospects, plans,expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry;expected growth in demand for products and services; product development, including projected design, characteristics, capacity orperformance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications andproject execution in general; competitive position; and the expected impact of the legislative and regulatory environment and legalproceedings on the Corporation's business and operations. Forward-looking statements generally can be identified by the use offorward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or“align”, the negative of these terms, variations of them or similar terminology. By their nature, forward-looking statements requiremanagement to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause actualresults in future periods to differ materially from those forecasted. While management considers these assumptions to be reasonableand appropriate based on information currently available, there is risk that they may not be accurate. For additional information withrespect to the assumptions underlying the forward-looking statements made in this presentation, refer to the respective Guidance andforward-looking statements sections in BA and in BT of the Dec. 31, 2014 MD&A.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include risksassociated with general economic conditions, risks associated with the Corporation's business environment (such as risks associatedwith the financial condition of the airline industry and major rail operators), operational risks (such as risks related to developing newproducts and services; doing business with partners; product performance warranty and casualty claim losses; regulatory and legalproceedings; the environment; dependence on certain customers and suppliers; human resources; fixed-price commitments andproduction and project execution), financing risks (such as risks related to liquidity and access to capital markets, exposure to credit risk,certain restrictive debt covenants, financing support provided for the benefit of certain customers and reliance on government support)and market risks (such as risks related to foreign currency fluctuations, changing interest rates, decreases in residual values andincreases in commodity prices). For more details, see the Risks and uncertainties section in Other of the Dec. 31, 2014 MD&A. Readersare cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and unduereliance should not be placed on forward-looking statements. The forward looking statements set forth herein reflect management'sexpectations as at the date of this report and are subject to change after such date. Unless otherwise required by applicable securitieslaws, the Corporation expressly disclaims any intention, and assumes no obligation to update or revise any forward-looking statements,whether as a result of new information, future events or otherwise. The forward-looking statements contained in this presentation areexpressly qualified by this cautionary statement.

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Agenda

OVERVIEW

BOMBARDIER AEROSTRUCTURES AND ENGINEERING SERVICES

BOMBARDIER BUSINESS AIRCRAFT

1

2

3

BOMBARDIER COMMERCIAL AIRCRAFT4

BOMBARDIER TRANSPORTATION5

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Bombardier is the world’s leading manufacturer of bothplanes and trains

OVERVIEW4

§ Revenues: $20.1 billion

§ EBIT before special items1 (Margin): $923 million / 4.6%

§ Adjusted Net Income1 (Per Share): $648 million / $0.35

§ Backlog of $69.1 billion

Bombardier Inc.(Fiscal Year ended December 31, 2014)

1. See Caution regarding Non-GAAP measures at the end of this presentation2. Market capitalization is based on an exchange rate of 0.8633 USD/CAD3. Includes contractual and inactive employeesNote: Market capitalization is based on share price of Cdn $4.15 (December 31, 2014)

§ Market Capitalization: $6.2 billion2

§ 74,000 employees3

§ 80 production and engineering sites in 28 countriesand a worldwide network of service centres

BombardierInc.

Aerospace

Transportation BusinessAircraft

CommercialAircraft

Aerostructures &Engineering Services

Product DevelopmentEngineering

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At Bombardier, we’re shaping the evolution of mobility by…

5

Investing in leadingmobility solutions

Growing local rootsin key markets

Achieving flawlessexecution

Great TalentGlobally

IntegratedSustainability

Active RiskManagement

Strong FinancialDiscipline

Our growth strategies

Our competitive foundation

OVERVIEW

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Agenda

OVERVIEW



1

2

3



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We offer a broad selection of aerostructures componentsand engineering services

7

Bombardier Aerostructures and Engineering Services (BAES) Portfolio

Wingcomponents Cockpits TubingElectrical

HarnessesExperimental and Ground

Testing Services

Aerostructures System Components Engineering Services

Other EngineeringServices

FabricatedParts2

High-pressureducting Tooling

Aftermarket1

All offerings

1. Includes Components Repair & Overhaul (CRO), Spare parts and other engineeringservices link

2. Fabricated Parts include Machined, Sheet Metal and Composite parts and includeaftermarket spare parts offered as standalone services

EngineNacelles

FuselageComponents

BOMBARDIERAEROSTRUCTURES ANDENGINEERING SERVICES

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BAES vision is to become a world class Aerostructures andEngineering Services supplier to the aerospace industry

8

Grow division revenue Optimize cost structure

We are focused on enhancing our cost structure while generating additional revenue opportunities


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Our growth potential comes from both internal andexternal opportunities

9

Our expertise on internal contracts Our expertise on external contracts

§ Engine nacelle components§ Fuselage components

§ Electrical harnesses§ Empennage components§ Engine nacelles§ Fuselage components and cockpit§ Fuselage doors§ Ground & experimental testing§ Wing and wing components

CSeries Global 7000/8000 Airbus A330 Irkut MC-21

§ Organic growth of contractsrelated to existing or in-development BBA/BCA programs

§ Organic growth of currentcontracts (sustaining or in-development programs)

§ Design-to-Build or Build-to-Print second/re-sourcing ofsustaining programs

BAESpotentialgrowthdrivers

CRJ1000

Externalcontracts

Internalcontracts


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10

ST-LAURENT BELFAST

BANGALOREQUERÉTARO

R&D, integration,design &manufacturing ofcomplex metallicand compositestructures

CASABLANCA

Engineeringactivities

Manufacturing &assembly ofmetallicstructures

R&D, integration,design &manufacturing ofcomplex metallicand compositestructures

Design,manufacturing& assembly ofmetallic andcompositestructures

BAES aerostructures and engineering services footprint iswell balanced

DALLAS

Service center


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Aerostructures and related aftermarket are currently a $60billion market, with forecasted annual growth of 3% to 2023

11

2013 Aerostructures marketby component

2013 Aerostructures marketby type of aircraft

3%

36%

35%

13%

12%

FuselageNacelle & Pylon

EmpennageOthers

Wings

54%

13%

5%

12%4%

12%

Helicopter

Large CommercialCommercialRegional

Others

Business

Military

Source: Counterpoint Market Intelligence Limited (CPMIL)

100% = $60B 100% = $60B


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Agenda

OVERVIEW



1

2

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Customers inover100

countries

Presencein over

15countries1

1. Defined as countries with Bombardier Business Aircraft employees

Bombardier Business Aircraft profile

Bombardier Business Aircraft[Fiscal year ended December 31, 2014]

WE ARE THE WORLD’S LEADINGBUSINESS AIRCRAFT

MANUFACTURER

BOMBARDIERBUSINESS AIRCRAFT

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We offer a broad business aircraft portfolio…

14

1. Under certain operating conditions, when compared to aircraft currently in service. See Challenger 650, Global 7000and Global 8000 aircraft programs disclaimer at the end of this presentation

2. Currently under development. Building on the success of the Challenger 605 aircraft, the Challenger 650 aircraft,once entered into service, will become Bombardier’s production model in the large aircraft segment

3. Currently under development

§ Models: Learjet 70 and Learjet 75§ Market category: Light business jets§ Competitive advantages1: The Learjet heritage of high performance is upheld by each

Learjet product. The Learjet family of aircraft features exceptionally fast cruise speeds, highclimb rates and operating ceilings, along with competitive operating costs

§ Models: Challenger 350, Challenger 605 and Challenger 6502

§ Market category: Medium business jets§ Competitive advantages1: The Challenger family of aircraft features productivity-enhancing

business tools, with the most comfortable cabins in its category. Each aircraft offers lowoperating costs, high reliability, and can be customized with leading-edge cabincommunication equipment

§ Models: Global 5000, Global 6000, Global 70003 and Global 80003

§ Market category: Large business jets§ Competitive advantages1: The Global family of aircraft offers a balance of performance,

comfort and productivity for long-range missions. The Global 7000 and Global 8000 aircraftare being developed as an extension to the Global family of aircraft and are expected to giveBombardier broad market coverage in the upper end of the business aircraft market

Learjet family of aircraft

Challenger family of aircraft

Global family of aircraft


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Our customer services and solutions provide the higheststandards of customer care

15

§ Services portfolio: Extensive capabilities to accommodate maintenance, refurbishment andmodification of business aircraft, as well as to dispatch mobile repair teams to Bombardiercustomers’ aircraft

§ Competitive advantages: Offering worldwide service and support through seven Bombardierwholly-owned Service Centres, 56 Authorized Service Facilities and Bombardier mobileresponse vehicles and aircraft

§ Services portfolio: A growing portfolio of innovative cost-per-flight-hour plans available forGlobal, Challenger and Learjet aircraft. Options include Smart Parts, Smart Parts Plus, SmartParts Preferred and Smart Parts Maintenance Plus

§ Competitive advantages: From coverage on exchanges and repairs of airframe systemcomponents to flight deck avionics, Smart Services provides budget predictability and costprotection

§ Services portfolio: Providing new and used parts, initial provisioning services, as well ascustomer owned repairs

§ Competitive advantages: Supporting business aircraft customers for all their parts needs,with eight parts depots worldwide and two major hubs

Maintenance

Parts

Smart Services


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Our customer services and solutions provide the higheststandards of customer care

16

§ Services portfolio: Providing a complete range of flight crew and technical training services onbusiness aircraft at two wholly-owned facilities and through a network of strategic partnershipsworldwide

§ Competitive advantages: As an original equipment manufacturer (OEM), Bombardier quicklymodifies courseware and training devices to reflect ongoing aircraft enhancements, committedto providing a high-quality learning experience

§ Services portfolio: Comprehensive portfolio of business aircraft customer support includingtwo 24-hour customer response centres, customer services engineering, a network of fieldservice personnel, customer response team trucks and a dedicated Learjet 45 aircraft, regionalsupport offices, technical publications, and entry-into-service support

§ Competitive advantages: Providing operators with a single point of contact, 24 hours a day,365 days a year, for all critical and aircraft-on-the-ground requests and supporting all customerrequirements from entry-into-service throughout ownership of the aircraft by leveraging a globalsupport network of strategically located teams

Customer Support

Training


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We concentrate on clear priorities to successfully executeour strategy

17

Our new products will meet our customers’ needs and enhance our competitive positioning§ We have the broadest portfolio of business aircraft, all of which provide customers with unique operating or

performance advantages§ Three aircraft models in development will contribute to strengthen our product leadership§ Significant expansion of customer services offering is continuing to better meet our customers’ needs

Invest in leading mobility solutions

Achieve flawless execution

Grow local roots in key markets

We currently have employees in more than 15 countriesOur international expansion will allow us to better serve our customers worldwide§ In 2014, we inaugurated our first wholly owned business aircraft service centre in the Asia Pacific region§ We will continue to expand our customer service offerings worldwide

Achieving flawless execution will enhance our customer satisfaction, improve our operational flexibility and grow ourprofitability§ Our new organizational structure will enable us to be more agile in addressing customer needs and capturing

growth opportunities in fast-growing markets and product segments§ We are dedicated to increasing our customers’ satisfaction by continuously improving our product reliability, on-

time delivery performance and in-service support§ We are focused on driving down costs in all our operations and optimizing our capacity


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We are leading the business aviation industry with thewidest product portfolio

18= Aircraft under development

LEARJET 70 LEARJET 75

CHALLENGER 350

GLOBAL 7000 GLOBAL 8000GLOBAL 6000GLOBAL 5000

Develop industry-leading products

CHALLENGER 650CHALLENGER 605


LEARJET 851

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Our new Challenger 650 business aircraft will set newstandards

§ The Challenger 650 jet flies 4,000 NM (7,408 km)¹ fully-equippedwith 6 passengers, connecting London to New York, Dubai toLondon, and Sao Paulo to Miami

§ Lowest-in-class direct operating costs and industry benchmarkreliability provide total peace of mind

The industry’s leading value proposition

§ Bombardier Vision Flight Deck provides pilots with cutting edgetechnology and superior design aesthetics

§ Optimized engines with higher thrust delivering shorter take-off fieldlength and extra payload

Leading technology - advanced, intuitive and accessible

Redefines the ultimate in-flight experience§ Widest in-class cabin has been completely redesigned to offer even

greater comfort and productivity§ Best equipped Cabin Management System, Audio Video on

Demand, Bluetooth integration and industry-leading connectivitycapabilities among its many standard package advantages

19 1. Under certain operating conditions. See aircraft programs disclaimer at the end ofthis presentation


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Our Global 7000 and Global 8000 business aircraftestablish a new benchmark

§ The Global 7000 jet is designed for 7,300 NM (13,520 km) rangewith 10 passengers at Mach 0.85¹

§ The Global 8000 jet will fly farther than any other business jet,boasting an impressive range of 7,900 NM (14,631 km)at Mach 0.85¹

Setting new benchmark in global travel

§ Fly-by-wire technology and breakthrough Bombardier Vision FlightDeck

§ GE’s new Passport 20 engine will set a new standard in performance,efficiency, and reliability for business aviation

Incorporating the latest technology

Bringing home-like feel and comfort to business travel§ The Global 7000 jet features a spacious four-zone cabin, which is

20% larger than the Global 6000 jet cabin§ The Global 7000 and Global 8000 jets offer large, flexible,

comfortable and light-filled living environments establishing industrybenchmarks for comfort, style and convenience

20 1. Under certain operating conditions. See aircraft programs disclaimer at the end ofthis presentation


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We are increasing our presence to better serve ourBusiness Aircraft customers’ needs globally

21

Note: As of December 31, 2014. Service locations include: Regional Support Offices (RSO);Authorized Service Facilities (ASF); Line Maintenance Facilities (LMF); Customer ResponseTeams (CRT); Authorized Training Providers (ATP)CIS: Commonwealth of Independent States, former Soviet Republics

Americas

Europe, Russia and CIS

Asia-Pacific and India

Seletar, Singapore

§ Current support network includes 104 Business Aircraftservice locations worldwide

§ 7 additions to the network in 2014

Toluca, Mexico

Chicago, Illinois

Nice, France

Ahmedabad, IndiaJeddah, Saudi Arabia

Expand our global presence

21

48

13

22

Africa and Middle East

Congonhas, Brazil

# Number of servicelocations in region

New service locations

=

=


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We are well positioned to capture long-termmarket opportunities

221. Including out of production modelsSource: Bombardier Business Aircraft Market Forecast 2014-2033

Business Aircraft§ Our three families of business jets, when combined, represent

the most comprehensive offering of all business aircraftmanufacturers – a unique advantage in a market with stronglong-term growth:§ 22,000 business jet deliveries globally over the next 20

years§ Industry annual revenues expected to reach $37.6 billion

in 2033

Customer Services§ Customer Services supports over 4,400 in-service aircraft

thanks to a solid international network offering parts andmaintenance services. It will keep growing its activities tomeet customers’ increasingly specific needs:

§ Extension of core business by increasing presence intraditional markets, such as North America andEurope, and emerging ones

§ Building emerging business by diversifying existingservices through the aircraft lifecycle

§ Large installed-base of Bombardier business aircraftworldwide:

§ Over 2,300 Learjet aircraft¹

§ Over 1,500 Challenger aircraft¹

§ Over 600 Global aircraft¹


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452

251

-85

107 191

343305

129

232 235176 155 163 179 180 204

1.9

1.1

-0.5

0.7

1.2

1.9

1.7

0.6

-1

0

1

2

-200

0

200

400

2007 31-Jan-09 31-Jan-10 31-Jan-11 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14

OrdersDeliveriesBook-to-bill

Business Aircraft Orders and Deliveries

1. Defined as new orders received over aircraft deliveries (in units)2. 11-month period ended December 31, 2011

Net Orders, Deliveries and Book-to-bill¹[Business Aircraft (Fiscal years 2008 – 2014)]

23

231-Jan-08


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We continue to have a leading position in the businessaircraft market

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1. L refers to Learjet, CL to Challenger and G to Global2. The above table is our assessment of the current market segmentation3. Learjet 60 XR production and Learjet 85 development are currently paused4. Challenger 800 Series production is currently paused

Business Aircraft Competitive Environment¹,²

We are well positioned in the business aircraft market with three families of aircraft,each with strong products covering the majority of the market

Light Jets Medium Jets Large Jets

BOMBARDIERL70 L75 L60XR

L85³CL350 CL605

CL650CL800Series4

G5000 G6000 G7000G8000

Cessna

Dassault

Embraer

Gulfstream

Products in service

Products under development

Products with production or development paused


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A leader in both delivery and revenue market share

We are a market leader in the business aircraft market

25Note: Excludes Very Light Jets and Large Corporate Airliners1. Based on publicly available list price information from manufacturersSources: Bombardier Aerospace’s estimates and other public sources

Business Aircraft Market Share by Units Delivered and Revenues[One-year period ended December 31, 2014]

34%

14%11%

25%

16%

Market Shares by Units Delivered(601 aircraft deliveries)

37%

6%13%

38%

6%

Market Shares by Revenues1

($20.6 billion)

Cessna Dassault Gulfstream EmbraerBombardier


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8,60011,135

14,855

5,200

7,860

11,130

1,400

3,655

6,465

3,600

5,500

3,300

4,350

2,300

2,950

1,065

1,780

640

1,080

45

140

15,200

9,200 1,75022,650

12,800 3,000

32,450

Fleet 2013 Deliveries Retirements 2023 Deliveries Retirements 2033

Our forecast calls for 22,000 business jet deliveries worth$617 billion in the next 20 years

261. Excludes Very Light Jets and Large Corporate Airliners2. Source: Bombardier Business Aircraft Market Forecast 2014-2033

Light Medium Large

The Large category will continue to account for the largestshare of revenues over the next twenty years

20-Year Business Aircraft Fleet Forecast1

[Units; 2013-2033]20-year Industry Outlook[Revenues, $B; 2013,2023,2033]

Total aircraft deliveries: 22,000

1.95.3 6.8

6.2

1213.611.3

13.7

17.2

19.4

31

37.6

2013 2023 2033

Total revenues: $617B

1.6x


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Long-term market drivers remain solid for business aircraft

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Note: Arrows identify a favorable, neutral or negative status, respectively, in the market categories inwhich we compete, based on the current environment1. Excludes Very Light Jets and Large Corporate AirlinersSources: IHS Global Insight, Ascend, U.S. Energy Information Administration, Bombardier analysis

Our comprehensive product portfolio will allow us to benefit stronglyfrom the growth in business aircraft over the long term

Business Aircraft Market Drivers[2014-2033 Outlook]

• The wealth of our customer base, comprised of corporations, individuals andgovernments, can be measured by real Gross Domestic Product (GDP)

• Global GDP growth forecast at a 3.3% average over a 20-year forecast periodWealth creation

• Value of world merchandise exports to increase at a CAGR (compound annualgrowth rate) of 5.9% over a 20-year period

• Business community requires flexible travel means in a globalized worldGlobalization of trade

• Worldwide installed base of approximately 15,7001 aircraft as at Dec. 31, 2014• The average age of the worldwide installed base is 16.82 years• Significant aircraft replacement occurring 5 to 10 years after initial delivery

Replacement demand

• New aircraft programs stimulate demand• Many new aircraft programs to enter into service over the next decadeNew aircraft programs

• Continued wealth creation in major fast-growing markets coupled with aviationinfrastructure development will accelerate the use of business aircraft

Fast-growinginternational markets

• Other offerings (e.g., on-demand charter, jet card programs and fractionalownership) provide tailored options

• Approximately 10% of industry orders to come from fractional operators over a20-year period

Accessibility


CurrentStatus

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Business Aircraft Regional Delivery Outlook

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North America• Largest and most mature market for business aviation• Aircraft replacement is an important driver of business jet

demand in the regionEurope• Second largest market in terms of revenues• Given the current economic difficulties, demand is expected

to remain weak over the next 1-2 years

Greater China• Accelerating the opening of its airspace for civil aviation• Strong economic growth and lower airspace restrictions point to

significant growth potential for business aircraftRest of world

• Healthy economic outlook and interregional trade will driveincreasing demand for business jets

• Business jet infrastructure including airports designated forbusiness aircraft remains limited in some regions notably in theMiddle East and Africa

2,130

685

GreaterChina2,225

885Africa

Latin America

1,215

1,095

India

Russia & CIS

Asia-PacificMiddle

East

North America8,760

20-Year Business Aircraft Deliveries1

[In Units, 2014-2033] WORLD TOTAL22,000

Europe3,575

1,430


1. Excludes Very Light Jets and Large Corporate AirlinersSource: Bombardier Business Aircraft Market Forecast 2014-2033CIS: Commonwealth of Independent States, former Soviet Republics

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OVERVIEW



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2

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WE ARE A WORLDLEADER IN CIVILAIRCRAFTMANUFACTURING

1. Defined as countries with Bombardier Commercial Aircraft employees

WE ARE A WORLDLEADER INCOMMERCIALAIRCRAFTMANUFACTURING

BOMBARDIERCOMMERCIAL AIRCRAFT

Bombardier Commercial Aircraft Profile

Customersin90

countries

Presencein19

countries1

Bombardier Commercial Aircraft[Fiscal year ended December 31, 2014]

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§ Model: Q400 NextGen§ Market segment: 60- to 90-seat turboprops§ Competitive advantages1: The Q400 NextGen airliner is a fast, fuel-efficient, low-emission and

highly flexible turboprop. It is the only in-production turboprop that can be configured with capacityup to 86 passengers while offering jet-like speed and an extended range, along with best-in-classseat costs

§ Models: CRJ700 NextGen, CRJ900 NextGen and CRJ1000 NextGen§ Market segment: 60- to 99-seat regional jets§ Competitive advantages1: Designed for hub expansion and point-to-point services, the CRJ aircraft

family is optimized for medium to long distance regional routes. The most successful regional aircraftprogram, the CRJ family, features best-in-class: operating costs, fuel burn and emissions. The CRJ isconstantly raising the bar with vision of a double digit fuel burn reduction by 2020 2

§ Models: CS1003 and CS3003

§ Market segment: 100- to 149-seat commercial jets§ Competitive advantages4: Designed for the growing 100- to 149-seat market, the 100% new

CSeries aircraft family offers 15% operating cost advantage over in-production aircraft and up to12% operating cost advantage over re-engined aircraft. The CSeries clean-sheet design ensuresthat the aircraft will achieve greatly reduced noise and emissions, as well as superior operationalflexibility, exceptional airfield performance and a range of 2,950 NM (5,463 km)

We have built a leading portfolio of commercial aircraft inthe 20- to 149-seat category

31

1. Under certain operating conditions, when compared to aircraft currently in service for short-haul flights up to 500 NM2. Based on CRJ900 NextGen improvements since entry-in-to-service. Improvements are currently under development, and as such, all specification

and data are approximate, may change without notice and are subject to certain operating rules, assumptions and other conditions3. Currently under development. See CSeries aircraft program disclaimer at the end of this presentation4. All data and specifications are estimates, subject to change in family strategy, branding, capacity and performance during the design, manufacture

and certification process (based on 500 NM trips)

Q-SERIES turboprop aircraft

CRJ regional jet family of aircraft

CSERIES mainline single-aisle jet family of aircraft


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§ Models: Bombardier 415 and Bombardier 415 MP§ Competitive advantages: The Bombardier 415 amphibious aircraft is the only aircraft

specifically designed for aerial firefighting, offering excellent operational capabilities andexceptional performance. The Bombardier 415 MP is a multi-purpose aircraft that can be usedfor a variety of specialized missions such as search and rescue, coastal patrol, environmentalprotection and transportation

§ Models: Various Bombardier business and commercial aircraft§ Competitive advantages: Specialized aircraft provides solutions for governments, agencies

and specialized organizations worldwide by modifying commercial and business aircraft to suitcustomer needs for different mission requirements including: maritime patrol, medevac,government VIP transport, intelligence surveillance reconnaissance and communicationplatforms, and military transport

Our Specialized and Amphibious Aircraft offer key solutionsfor demanding mission requirements

32

Amphibious aircraft

Specialized aircraft


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Our customer services and solutions provide exceptionalstandards of customer care

33

§ Services portfolio: Extensive capabilities to accommodate aircraft maintenance,refurbishment and modification for commercial aircraft.

§ Competitive advantages: Offering worldwide service and support through Bombardier wholly-owned Service Centres, Authorized Service Facilities and the Bombardier mobile repair team

§ Services portfolio: A growing portfolio of innovative cost per-flight-hour plans available forcommercial aircraft. The adoption of the Q400 version of the Smart Parts by carriers worldwidecontinues to provide cost protection and budget predictability for Bombardier’s Q400 aircraftcustomers. The Smart Parts program was recently approved for CSeries aircraft operators

§ Competitive advantages: From coverage on exchanges and repairs of airframe systemcomponents to flight deck avionics, Smart Parts program is a key component (together with theSmart Maintenance program) of Bombardier’s Smart Services, providing budget predictabilityand cost protection

§ Services portfolio: Providing new and used parts, initial provisioning services, as well ascustomer owned repairs

§ Competitive advantages: Supporting customers for all their parts needs, with two partsdistribution hubs, eight parts depots, and three component repair & overhaul facilities worldwide

Maintenance Services

Parts Services

Smart Services


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Our customer services and solutions provide exceptionalstandards of customer care

34

§ Services portfolio: Comprehensive portfolio of customer services including: nine regionalsupport offices, a 24-hour customer response centre, engineering and maintenance planning,customer liaison pilots, network of field service personnel, mobile technical repair teams,modifications, technical publications, entry-into-service support and e-services

§ Competitive advantages: Providing operators with a single point of contact, 24 hours a day,365 days a year, for all critical and aircraft-on-the-ground requests and supporting all customersupport through a network of strategically located teams

Support Services

§ Services portfolio: Providing a complete range of flight crew and technical training services oncommercial, specialized and amphibious aircraft at wholly-owned facilities and through anetwork of strategic collaborations worldwide. In addition, Bombardier has five approvedtraining providers to provide worldwide training services under Bombardier’s oversight

§ Competitive advantages: High-quality learning experience. As an original equipmentmanufacturer (OEM), Bombardier quickly modifies courseware and training devices to reflectongoing aircraft enhancements

Training


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We are executing on a portfolio of initiatives to achieve ourstrategic priorities

35

Our products meet our customers’ needs and enhance our competitive positioning

§ Our portfolio of Commercial Aircraft provides customers with unique operating and performance advantages§ We continue to strengthen our product leadership by developing the CSeries, a 100% new 100- to 149-seat aircraft§ Our evolving customer services offering will enable us to support our customers’ changing needs

International expansion will allow us to better serve our customers and optimize our cost structure

§ We have regionalized our Commercial Aircraft sales team to be closer to our customers and their business reality§ Customer service capacity has been increased in Africa, Asia-Pacific, Europe, North America, Middle East and

South America by expanding our regional support offices, parts depots and third party service agreements§ We continue to develop collaborative activities in China to enhance product competitiveness and market presence

Achieving flawless execution will improve our products’ reliability, customer satisfaction and our profitability§ We continue to deliver on our commitment to customer service excellence through consistent improvements in

the rates of missed departures and on-time deliveries§ We have committed to continued organizational development through our Achieving Excellence System (AES)§ Our new organizational structure will enable us to be more agile in addressing customer needs and capturing

growth opportunities in fast-growing markets and product segments


Grow local roots in key markets

Invest in leading mobility solutions


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§ Passenger: Wide body comfort in a single-aisle aircraft§ Communities and Environment1: Greatly reduced noise and

emissions with 20% CO2 advantage against in-production aircraft§ Airline1:Operational flexibility – short field and longer range

performance: CS100 and CS300 offer route flexibility and unbeatableeconomics with a 15% operating cost advantage over in-productionaircraft and up to 12% operating cost advantage over re-enginedaircraft

100% New aircraft, no compromise

§ Flight testing well underway§ The CSeries program has completed its static testing campaign and

the fatigue testing program is progressing to plan§ Type certification of the CS100 aircraft is targeted for the second half

of 2015 and the CS300 aircraft’s type certification is expected to followapproximately six months afterwards. The entry-into-service (EIS) ofeach program is expected to occur shortly after their respective typecertification dates

Development milestones and certification

Our CSeries family: The only 100% new single-aisle aircraft

36

1. The CSeries aircraft are in development. All data and specifications are estimates, subject tochange in family strategy, branding, capacity and performance during the design, manufactureand certification process (based on 500 NM trips). See CSeries aircraft program disclaimer at theend of this presentation

§ Leading edge technologies and systems integration§ State-of-the-art aerodynamics§ Lighter structure due to extensive use of advanced materials combined

with optimal design point

Aircraft specifically designed for the 100- to 149-seat market


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§ Passenger: Enhanced experience with large overhead bins, largewindows, more legroom, LED lighting, and in-flight connectivity

§ Communities and Environment: The CRJ NextGen are designedfor hub expansion and point-to-point services, linking people with thelowest CO2 emissions

§ Airline: The CRJ family (CRJ700, CRJ900 and CRJ1000) isuniquely positioned to match market demand within the 60- to 99-seat regional jet segment. Cost leadership (up to 10% cashoperating cost advantage)2, combined with route flexibility and best-in-class reliability, has set the benchmark in the regional jet market

Only best-in-class can move the world

§ Vision of a double-digit fuel burn reduction by 20201

§ Escalating maintenance intervals: 600/6,000 to 800/8,000 flight hours3

§ Continuously enabling our operators to develop new markets andincrease frequencies

Constantly moving the benchmark forward

Our CRJ family: The regional jet benchmark

371. Based on CRJ900 NextGen improvements since entry-in-to-service2. Fuel and Economics claims based on 500 NM mission3. Escalation of check intervals to 800/8,000 flight hours currently under development

§ The most successful regional jet family with over 1,800 firm orders§ Real cost leadership due to lightweight design, optimized

aerodynamics, optimized engine thrust and low maintenance cost§ Setting the benchmark for lowest fuel burn:

CRJ900 NextGen aircraft offers up to 5.5 per cent lower fuelconsumption than earlier-generation CRJ900 aircraft1

Best of both worlds: minimum cost, maximum flexibility


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§ Passenger: The Q400 NextGen aircraft features an enhanced cabinenvironment with the introduction of LED lighting, new ceiling panels,dished window sidewalls and larger overhead bins. With jet bridgefront loading, the Q400 is also ideal for dual class configuration

§ Communities and Environment: The Q400 delivers up to 2.5xsmaller noise footprint than a 70-seat in production regional jet

§ Airline: Up to 17% seat cost advantage1 vs. competing turboprop andhalf the trip cost of larger single-aisle jets

The most profitable turboprop

§ The Q400 NextGen is the world’s only available 86 seat turboprop§ Released the Q400 Flight Efficiency Manual in 2014 providing tools and

techniques allowing airlines to benefit from additional fuelsavings up to 24%

Listening to our customers and adapting to market needs

Our Q400 NextGen aircraft matches your business model,not the other way around

38 1. Fuel and Economics claims based on 300 NM mission

§ Reshaping the turboprop market by offering an aircraft with superiorcapacity and revenue generation capabilities relative to competitors

§ The Q400 NextGen now offers best-in-class capacity with up to 86seats, true dual class experience and the most payload capacity withits “combi” configurations

§ The Q400 NextGen is the only aircraft with turboprop economics andjet-like operations

Enhanced passenger experience


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We have increased our global presence to better serve ourcustomers’ needs

39

1. Service facility types: RSO = Regional Support Office, ASF = Authorized Service Facility, PartsDepots / Hubs

2. Our five ATPs have multiple locations worldwide; ATP = Authorized Training ProviderCIS: Commonwealth of Independent States, former Soviet Republics

Americas

Europe, Russia and CIS

Asia-Pacific and IndiaAfrica and Middle East

2 RSOs2 ASFs2 Parts Depot / Hub

5 RSOs2 ASFs5 Parts Depots / Hubs

2 RSOs5 ASFs1 Parts Depots / Hubs

Singapore

§ 4 additions to our support network1 in 2014Expand our global presence

Dubai

South Africa

Germany

3 Service Centres1 HQ2 Parts Depots / Hubs 6 6

8

12

ASF

RSO

Parts Depot / Hub

2014 Network Additions2


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We are well positioned to drive long-term growth acrossour complete product and services portfolio

40 1. Bombardier Commercial Aircraft Market Forecast 2014-20332. Based on list prices

Commercial Aircraft§ We are well positioned in a market with solid long-term prospects:

§ 13,100 new aircraft deliveries over the next 20 years, of which 7,100 will be in the100- to 149-seat segment1.

§ Industry annual revenues projected to reach $50 billion in 2033 in the 20- to 149-seat market, with the 100- to 149-seat segment representing a $39 billionopportunity1.

§ As the only 100% new aircraft in the 100-to 149-seat segment, CSeries is wellpositioned to lead future growth for Bombardier Commercial Aircraft.

Specialized and Amphibious Aircraft

§ We have provided governments and government agencies around the world with over300 modified aircraft that meet the most demanding mission requirements. We willcapture long-term growth by:

§ Establishing relationships with prime contractors and solutions integrators tofacilitate complex system integration (e.g. VIP, Medevac, Flight Inspection).

Customer Services§ Our expanding service offering is designed to meet the growing and changing

needs of our customers. This market offers important growth opportunities:§ More owners and operators are outsourcing non-core service activities.§ Customer fleets are expanding worldwide.§ Shift toward comprehensive nose-to-tail services and predictable costs.

§ 40 CS300 aircraft and 10 options fromMacquarie Air Finance

§ 16 CS300 aircraft and 10 options from AlQahtani Aviation Company, to beoperated by SaudiGulf Airlines, valuedup to ~$1.99 billion2

§ 24 CRJ900 NextGen aircraft optionexercise from an American Airlinesvalued up to ~$1.14 billion2

§ 19 CRJ900 NextGen aircraft and 8options from China Express valued up to~$1.25 billion2

§ 13 Q400 NextGen aircraft and 10 optionsfrom Chorus Aviation Inc. valued up to~$758 million2

§ 5 Q400 NextGen aircraft and 10 optionsfrom GECAS valued up to ~$448 million2

§ Q400 Smart Parts agreement with NorthCariboo Air for up to three Q400turboprops

§ Air Côte d’Ivoire enrolled up to four Q400NextGen aircraft in the Q400 Smart Partsprogram.

Market Description Order Highlights for 2014


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Bombardier Commercial Aircraft Orders and Deliveries

1. Defined as new orders received over aircraft deliveries (in units)2. 11-month period ended December 31, 2011

238

11488 93

54

13881

148128 110 12197 78 50 55

84

1.9

1.00.7

1.0

0.7

2.8

1.51.8

-0.2

0.8

1.8

2.8

25

125

225

325

2007 31-Jan-09 31-Jan-10 31-Jan-11 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14

OrdersDeliveriesBook-to-bill

Net Orders, Deliveries and Book-to-bill1[Bombardier Commercial Aircraft, Fiscal years 2008 – 2014]

41

231-Jan-08


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We have a unique advantage with highly efficient productsin all our market segments

42 1. The above table is Bombardier Commercial Aircraft’s assessment of the current marketsegmentation


Best-in-class economics and superior passenger comfortposition each of our product families for long-term growth in new markets

Turboprops Regional Jets Commercial Jets

60-90 seats 60-79 seats 80-99 seats 100-119 seats 120-149 seats

BOMBARDIERQ400

NextGenCRJ700NextGen

CRJ900NextGen

CRJ1000NextGen CS100 CS300

ATR

AVIC

Embraer

COMAC

Mitsubishi

Sukhoi

Airbus

Boeing

Products in service

Products under development

Commercial Aircraft Competitive Environment1

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Commercial Aircraft has an established market presencewith solid strategies to drive future growth

27%

35%

32%

6%

Market Shares by Units Delivered(692 aircraft deliveries)

Bombardier Embraer ATR Sukhoi

43

Commercial Aircraft Market Share by Units Delivered1

[20-99 seat segment, January 1st 2012 - December 31st, 2014]

We captured 27% delivery market share in the 20- to 99-seat category

Source: Bombardier, Ascend Fleets from Flightglobal1. Passenger configuration only. Estimates based on delivery data available from Ascend and other public sources

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3,400

2001,500

2,100

200

1,300

1,000

2,750

2,800550

5,000

2,800

950

6,850

4,650

2,300 2,300

4,650

4,800

1,000

8,45010,800

5,300 4,350

11,750

7,800 3,250

16,300

Fleet 2013 Deliveries Retirements Fleet 2023 Deliveries Retirements Fleet 2033

1 0.4 0.57 9 10

11

22

39

19

31

50

2004-2013average

2023 2033

Annual 20- to 149-seat commercial aircraft revenues are expected to increase1.6 times by 2023, mainly driven by the 100- to 149-seat segment

Our forecast calls for 13,100 commercial aircraft deliveries in the20- to 149-seat market worth $658 billion in the next 20 years

44 1. Source: Bombardier Commercial Aircraft Market Forecast 2014-20332. Revenues based on estimated segment list prices.

Total aircraft deliveries: 13,100 Total revenues: $658 billion

20-Year Commercial Aircraft Fleet Forecast1

[Units; 2013-2033]

20-59 seats 60-99 seats 100-149 seats

20-year Industry Outlook2

[Revenues,$B; 2004-13,2023,2033]

1.6x


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Long-term market drivers for commercial aircraft are solid

45Arrows identify a favorable, neutral or negative status, respectively, in the market categories inwhich we compete, based on the current environment.Source: IHS Global Insight, U.S. Energy Information Administration, Bombardier analysis

Most drivers will impact demand for commercial aircraft positively

Commercial Aircraft Market Drivers[2014-2033 Outlook]

• Demand for air travel is directly related to economic growth and per capitawealth creation

• 3.3% average growth in global GDP over the forecast periodEconomic growth

• Oil prices influence airline decisions to replace or retire less efficientaircraft typesFuel prices

• The availability of more efficient, new-generation aircraft will promoteaircraft replacements. Nearly half of the current in-service 20- to 149-seatfleet is forecasted to be replaced in the next 20 years

More efficient aircraft

• Airline markets will continue to be opened to greater competition throughliberalization of international air transportation agreements

• Infrastructure will support growth in demand for air travelEmerging markets

• Increasing environmental regulation will affect fleet mix and encouragecarriers to seek aircraft with lower fuel consumption and emissionsEnvironmental regulations

• Imposition of environmental and emissions fees will increase airlineoperating costsEnvironmental fees

• Contractual restrictions on airline operations based on aircraft size andengine type will ease over timeScope Clause relaxation

CurrentStatus


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Commercial Aircraft Regional Delivery Outlook

46Source: Bombardier Commercial Aircraft Market Forecast 2014-2033CIS: Commonwealth of Independent States, former Soviet Republics

AfricaIndia

Russia & CIS

Asia PacificMiddle

East

20-Year 20- to 149-Seat Category Deliveries[Units, 2014-2033] WORLD TOTAL

13,100

Advanced Economies• Demand from North America and Europe will be driven by fleet

retirements• North America will remain the largest 20- to 149-seat aircraft

market• Demand from Europe will be revitalized following the current

period of slow economic growth

Emerging Markets• 58% of aircraft demand to come from emerging markets• Barriers and regulatory constraints will loosen in China and Asia

Pacific, stimulating demand• Strong airline competition will sustain demand in Latin America• Political unrest will hamper regional aircraft orders in Middle

East and Africa in the short- to mid-term

North America3,650

Europe1,840

830

GreaterChina2,280

1,100

700

1,400Latin America

540

760


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Agenda

OVERVIEW



1

2

3



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Bombardier Transportation (BT) profile

48

WE ARE ALEADER IN THERAIL INDUSTRY

BT - A LEADER IN THERAIL INDUSTRY

1. EBIT margin before special items2. Defined as countries with BT employees3. As at December 31, 20144. Including inactive and contractual employees

BOMBARDIERTRANSPORTATION

REVENUES

$9.6B

EBIT beforespecial items

$486M

EBITMARGIN1

5.1 %

ORDERBACKLOG3

$32.5B

CUSTOMERSIN

> 60countries

PRESENCEIN

41countries2

EMPLOYEES4: 39,700HEADQUARTERS

IN BERLIN, GERMANY

Bombardier Transportation[Fiscal Year ended December 31, 2014]

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Revenues 2014: $9.6B Total BT employees1: 39,700

Global Headquarters

Bombardier Transportation – a global player with aEuropean base

49 BOMBARDIERTRANSPORTATION

RollingStock66%

Services18%

System andSignalling

16%

2014 BT revenues by segments[in % of total revenues]

1. As at December 31, 2014; including inactive and contractual employees

100% = $9.6B

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BT offers the broadest and most innovative portfolio ofproducts and services in the industry


Rolling Stock

INTERCITY, HIGH SPEED TRAINS, AND VERY HIGH SPEED TRAINS§ Application: Equipment for medium and long-distance operations§ Major products: REGINA, TWINDEXX Express and ZEFIRO family§ Competitive advantages: Solutions offering very high operating flexibility, high comfort and

safety standards for the passengers in combination with high efficiency covering the fullspectrum of speed requirements: intercity (160-200 km/h), high speed (200-250 km/h) andvery high speed (250-380 km/h)

COMMUTER AND REGIONAL TRAINS§ Application: Suburban and regional rail transit for urban centres and surrounding regions§ Major products: OMNEO, SPACIUM, TALENT 2, TWINDEXX Vario, ELECTROSTAR§ Competitive advantages: Broad product line featuring electric, diesel and dual mode

multiple unit trains/vehicles, along with locomotive-hauled coaches in both single anddouble-deck configurations. Bombardier’s modular train platforms offer very high flexibilityto transit authorities and operators, as well as highest levels of comfort and capacity

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Rolling Stock

LIGHT RAIL VEHICLES§ Application: Efficient surface transit in urban centres with highest standards in the areas of

comfort, security and environmental protection§ Major products: FLEXITY family (FLEXITY 2, Outlook, Freedom, Berlin, Classic, Swift)§ Competitive advantages: The broad portfolio of FLEXITY vehicles with high technical

capabilities, low life-cycle costs together with Bombardier’s profound and long-lasting customerrelationships make our light rail vehicles the first choice in the market. In 2014 BT won theGood Design award for its Australian FLEXITY tram projects in Melbourne and Gold Coast

METROS§ Application: High-capacity mobility for urban mass transit§ Major products: MOVIA and INNOVIA platforms§ Competitive advantages: Flexible modular product platform adaptable to the

requirements of customers across diverse markets, with a track record for rapid, reliable,cost and energy efficient operation, including driverless solutions

ELECTRIC AND DIESEL LOCOMOTIVES§ Application: Locomotives for intercity, regional and freight rail service§ Major products: TRAXX platform, ALP electric and dual-power locomotives§ Competitive advantages: Versatile product platform offering electric, diesel-electric,

dual-power and multi-system propulsion, last-mile diesel or battery drive features.Innovative solutions increase power and reliability capacity in combination with highenergy efficiency. Homologated in 18 countries in Europe, enabling cross-border service

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Rolling Stock Components

BOGIES§ Application: Complete solutions for our full product portfolio and also third-party businesses§ Major products: FLEXX bogies portfolio including latest technologies: FLEXX Eco, FLEXX

Urban, FLEXX Speed, FLEXX Power and Innovation award-winning WAKO Technology§ Competitive advantages: Advanced product technology and complete aftermarket services

covering the full spectrum of rolling stock applications. Bombardier’s track-friendly bogiesare design to ensure safe and smooth operation and reduce wheel and rail wear, minimizingoperational costs and noise

PROPULSION AND CONTROLS§ Application: Complete propulsion and control product portfolio for all rail vehicles and

e-mobility applications, including traction and auxiliary converters, traction motors andtrain control and management systems for onboard solutions

§ Major products: MITRAC permanent magnet motor and ORBIFLO monitoring system§ Competitive advantages: A leader in reliability, modular design, energy efficiency and

ease of maintenance technologies, applicable to the full spectrum of rolling stock

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Systems

MASS TRANSIT AND AIRPORT SYSTEMS§ Application: Fully Automated People Mover (APM), metro, monorail and light rail systems§ Major products: INNOVIA APM 300 system, INNOVIA Monorail 300 system, INNOVIA

Metro 300 system, FLEXITY 2 tram systems§ Competitive advantages: Broad rolling stock portfolio for urban and airport applications

that can be customized to provide a complete turnkey system solution. Strong track recordfor reliability and availability across 60 complete systems around the world

MAINLINE SYSTEMS§ Application: System solutions for intercity and high speed applications covering medium- to

long-distance operations§ Competitive advantages: Turnkey system approach to provide reliable rail systems for

mainline applications featuring very high passenger comfort and safety standards. Highlyexperienced in systems integration and engineering as well as in operations andmaintenance

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54

Systems


OPERATIONS AND MAINTENANCE OF SYSTEMS§ Application: Operations and maintenance (O&M) services for fully automated transit and

mass transit systems§ Competitive advantages: Strong O&M experience in automated, driverless technologies,

including APM, metro and monorail systems as well as fleet management solutions forurban and intercity transportation systems

PRIMOVE E-MOBILITY§ Application: Bombardier’s PRIMOVE portfolio offers vehicle manufacturers and operators

a flexible package of zero-emission e-mobility solutions for several types of electric rail androad vehicles such as trams, buses, trucks and cars. The fully integrated system of fastinductive charging, long-life batteries and efficient propulsion equipment allows cities andthe transportation industry to easily incorporate electric mobility

§ Major products: PRIMOVE charging, PRIMOVE battery, PRIMOVE propulsion

§ Competitive advantages: Bombardier develops unique solutions for true e-mobility.PRIMOVE provides a convenient, automatic and wireless energy supply system that allowselectric vehicles to be charged dynamically and statically at high power levels withoutaffecting driving habits or journey times. It delivers high power battery systems that areoptimized for a long lifetime. The PRIMOVE opportunity charging concept has beendesigned to achieve even longer battery life and to reduce the battery size when comparedto pure-electric bus. The PRIMOVE propulsion and controls system integrates electricaldriveline solutions with clever interfaces for all major vehicle components to optimize theoverall efficiency and performance of electric buses

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55

Signalling


MASS TRANSIT SIGNALLING§ Application: Rail control and signalling solutions for mass transit systems such as

metros, light rail or APMs§ Major products: CITYFLO§ Competitive advantages: Complete portfolio of solutions ranging from manual

applications to fully automated Communication-Based Train Control (CBTC), which helpsto increase infrastructure capacity and can be installed without interruption to service

MAINLINE SIGNALLING§ Application: Rail control and signalling solutions for mainline railways ranging from

freight traffic to regional/commuter, intercity and high speed lines§ Major products: INTERFLO and EBI Cab Automatic Train Control (ATC) onboard

equipment§ Competitive advantages: Complete portfolio of conventional signalling systems which

uses the European Rail Traffic Management System (ERTMS) technology and is alreadyfunctioning in several countries inside and outside of Europe. Bombardier is the onlysupplier deploying moving block technology on non-mass transit lines

INDUSTRIAL SIGNALLING§ Application: Rail control and signalling solutions for industrial sector, major application in

the surface and sub-surface mining industry§ Major product: INTERFLO 150§ Competitive advantages: Innovative signalling system technologies used to increase

transport capacity in a secure and cost effective manner. Bombardier’s technology coversthe whole process, enhancing not only the underground operation, but also the transfer ofore from the excavation site to the transportation hub

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56

Services


MATERIAL SOLUTIONS§ Application: Supply chain, spare parts inventory management, obsolescence management

and technical support services for rail operators§ Competitive advantages: Advanced material supply solutions together with global

engineering and purchasing power through global network of parts and components suppliers.Logistics capability to source and deliver what is needed, when needed, where needed

FLEET MANAGEMENT§ Application: Comprehensive portfolio of fleet and operations management services§ Competitive advantages: Robust and effective ‘back office’ solutions support rail operators in

delivering their ‘front line’ service every day. Engineering expertise, whole life maintenancetechniques and tools optimize availability, reliability, punctuality, safety and cost over the wholelife cycle of the fleet

ASSET LIFE MANAGEMENT, COMPONENT RE-ENGINEERING AND OVERHAUL§ Application: Upgrade, life extension and overhaul of rail vehicles and components§ Competitive advantages: Broad portfolio of system and component upgrades executed at

Bombardier specialist facilities and customer sites. Bombardier leverages its engineering andsupply chain strength to bring operational performance and whole life cost advantages. Morethan 4,000 vehicles have been refurbished. Experience in more than 4,000 different componenttypes

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Our game-changing products shape the market

57

1

Bombardier Transportation game-changing products


PRIMOVE – eco-friendly and sustainable urban transport§ The fully integrated system includes fast inductive charging, long-life

batteries and efficient propulsion equipment§ PRIMOVE reduces local CO2 emissions to zero, eliminates noise

pollution and frees e-mobility from the constraints of cables, wires andplugs for trams, cars and buses

§ Entry into automotive industry becomes more and more feasible

INNOVIA Monorail 300 System§ Fast and cost effective to introduce as it does not require major

infrastructure or civil works§ INNOVIA 300 trains are equipped with a CITYFLO 650 automatic control

system for minimized headways and high frequency services§ Delivered as a fully integrated turnkey system solution

ZEFIRO Very High Speed (VHS) train§ Traction power ensures speeds between 250 and 380 km/h§ Our multi-voltage technology enables cross-border operations§ V300ZEFIRO impresses with a very low energy consumption per seat§ BT’s proven technology and services solutions ensure low lifecycle costs and

increase return on investment

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ZEFIRO – a new generation of VHS trains

58

ZEFIRO – new standards for very high speed

V300ZEFIRO Italy – flawless execution


§ ZEFIRO is a new generation VHS train with scalabletraction power for operating speeds between 250 and380 km/h

§ Multi-voltage technology enables cross-borderoperations (e.g., Italy, Switzerland, Germany andFrance for Trenitalia’s V300ZEFIRO trains)

§ The open tube design of the ZEFIRO maximizes theavailable interior space to ensure excellent passengerflow and one of the highest capacity of VHS trains onthe market

§ ZEFIRO is ECO4-compliant with a low ecologicalfootprint and impresses with a very low energyconsumption per seat

§ Low lifecycle costs increase return on investment§ The V300ZEFIRO, known as ETR 1000 in Italy, is

developed in partnership with AnsaldoBreda. Soon, wewill deliver the first of the 50 Very High Speed trainsets toour customer Trenitalia, achieving flawless execution

§ In December 2014, Trenitalia also awarded BT a 10-yearfull maintenance contract for its V300ZEFIRO fleet.The contract indicates our customers’ trust in BT’sservices solutions as we guarantee high availability andsafety of the fleet

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Cost effective and easy installationFully automated and driverless

INNOVIA Monorail 300 System – a successful masstransport solution for improved efficiency

59

True game-changer for publictransportation in China


§ Attractive, fully automated and driverless masstransit solution for superior passenger services incities, urbanizations or airports

§ Flexible configurations and capacities up to48,000 passengers per hour per direction

§ Low noise levels make it an ideal choice forservice in both business and residential districts

§ Fast and cost effective turnkey installation withlow land intake and low expropriation costs

§ Outstanding reliability by unrivalled support inmaintaining fleet safety, availability, performanceand reliability through its global operations andmaintenance services network

§ BT and CSR Puzhen have signed an agreement tocreate a joint venture to develop and manufactureINNOVIA vehicles for urban and airport transit systems

§ Rapid urbanization and an increase in air travel havecreated a fast growing market for urban feeder systemsand airport transit solutions in China

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Key benefits

An environmentally friendly e-mobilitysolution

PRIMOVE – eco-friendly and sustainable urban transport


Customers in Europe and China already discovered theadvantages of BT’s PRIMOVE technology:

§ Quiet: No noise or vibrations for greater passengercomfort

§ Invisible: No cables, wires or plugs for moreattractive cities

§ Energy efficient: Fast charging and minimizedenergy loss for reduced operating costs

§ Practical: Small and compact products for easymaintenance and higher passenger capacity

§ Complete: A one-stop-shop that delivers a turnkeysystem solution for true e-mobility

§ Available for all types of electric transport:From light rail and bus networks to commercialvehicles & cars

§ PRIMOVE uses the principle of inductive powertransfer, which allows electric vehicles to bewirelessly recharged either in motion (dynamiccharging) or at rest (static charging)

§ Its fully integrated propulsion and control systemensures a commercially viable and performingsolution

§ PRIMOVE provides emission-free electric bus travelon city bus lines, eliminates noise pollution andreduces local CO2

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We are executing on a portfolio of initiatives to achieve ourstrategic priorities

61

Invest in leading mobilitysolutions

INNOVIA 300 Monorail§ BT’s fully automated and

driverless monorail systemsare cost-effective to introduceand permit rapid installation ofinfrastructure. They are masstransit solutions for superiorpassenger services in cities,urbanizations or airports

Catenary free LRV, Nanjing:1

§ The first catenary-free tramswith PRIMOVE technologystarted regular service. Thebatteries are re-chargedseamlessly during normalpassenger service and allowreliable and cost efficientoperations

Grow local roots in keymarkets

Partnerships with localplayers:§ BT established a Joint Venture

with CSR Puzhen in China forthe execution of Monorail andAPM projects. It’s BT’s 5th JVin China

Local footprint:§ BT opened a new Kuala

Lumpur office for more than100 specialists from differentfunctions to support railprojects in the Asia-Pacificregion

Local capability building:§ BT cooperates with Kasetsart

University in Thailand tosupport signalling educationand training


1. Built under a 10 years license agreement with CSR Puzhen

SNCF trophy for best site:§ BT won the 2014 SNCF

Trophy for best manufacturerand site, recognizing our highlevel production quality at oursite in Crespin

Customers recognize ourflawless services execution:§ After successful operations

and maintenance services forNew Jersey Transit (NJTRANSIT), BT signed a newcontract with NJ TRANSIT atthe end of September toprovide further O&M servicesfor their River Line light railsystem


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Our aim is to stay in the technology lead by having the mostinnovative portfolio reducing our customers’ life cycle costs

62

Proven andreliable signalling

and turnkeysystems solutions

From LRV to VHS – we offer our customers thebroadest rolling stock portfolio

Our servicessolutions

optimize lifecycle cost

APM/Monorail

HS/VHS

Commuter/Regional

LocomotivesMetro

LRV

Develop innovative and best value for money solutions

Innovation means providing our customers advanced rail solutions which improve their trainoperation performance

We also provide best value for money products by offering proven high quality mobilitysolutions and services solutions which optimize our customers’ life cycle cost


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In emerging markets, we focus on continuously developingour product portfolio and increasing local footprint

63

Capture the full potential of fast-growing markets

Increase local footprint:§ We aim to establish production capacity in selected

non-traditional markets and develop a sustainablerelationship to our customers’ region

Form partnerships and sign licensing agreements:§ Partnering with local players is a key driver to enter

restricted markets and connect to the local industry

Build local capabilities:§ We identify and develop talent to establish a local

employee base

Offer a competitive product portfolio:§ We offer a suitable product portfolio for diverse

customer requirements

Locomotives for South Africa

In March, BT signed a contract with Transnetfor 240 TRAXX locomotives with an attachedservices contract. More than 60 per cent ofthe contract scope will be localized.

Monorail São Paulo started passenger service

In August, São Paulo’s new INNOVIAMonorail 300 system started passengerservice. The line will carry over half a millionpassengers every day along the east side ofSão Paulo.

Signalling for Ethiopia

In October, BT won a contract to deliver themainline signalling solution for Ethiopia’snew 400 km Awash-Weldia line. It was thefirst signalling contract for BT in this country.

Success stories 2014 in non-traditional marketsOur approach to non-traditional markets


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Flawless execution is the base of customer satisfactionand loyalty and therefore essential for our business

64 Pictures from left to right:MOVIA Metro, Singapore; FLEXITY Swift, Melbourne; V300ZEFIRO, Italy

Additional regional trains for UK:§ In November 2014, UK’s train operator Govia

Thameslink ordered 108 additional ELECTROSTARcars only one year after signing the base contract for116 cars

SNCF trophy for best site:§ BT won the 2014 “SNCF Trophy for Best Manufacturer

and Site”. The trophy confirms the high customersatisfaction for the Francilien commuter projectregarding reliability and quality of our deliveredproducts at our site in Crespin, France.

Customers recognize our services solutions:§ In September 2014 BT signed a new contract for

operations and maintenance services for NJTRANSIT’s River Line Light Rail system covering aperiod of 15 years. BT has been operating andmaintaining the River Line Light Rail system since itsopening in March 2004


2014 Achievements Successful rolling stock project execution

What we promise (product rendered images)

What we deliver (end products in execution)


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Our product portfolio and global presence sustain ourlong-term growth

65

§ The rail industry remains strong and is forecasted to have an annual growthrate of 2.7% p.a.1

§ Although competition increased, BT continued to win large rolling stockorders together with long-term services contracts in 2014

§ There are promising opportunities in all regions and segments§ BT is the manufacturer with the broadest portfolio in the rail industry§ Long-term market drivers have a positive impact on future investments in

rail infrastructure

1. Over the next six years according to the UNIFE World Rail Study 2014 (accessible market)BOMBARDIERTRANSPORTATION

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INTERFLO200 signallingfor Kars-Baku in Azerbaijan$203 M (2013)

450 cars and maintenancefor Queensland Rail$2.7 B (2014)

BT continues to secure large and strategic orders aroundthe world

66Note: Contract values, BT share only, only year of base contract signature considered1. Including an option for 365 cars exercised in January 20142. First call-offs from a frame agreement for up to 450 locomotives

585 AVENTRA trainsfor Crossrail$2.1 B (2014)

48 FLEXITY 2 LRVsfor DeLijn

$165 M (2012)

300 metro carsfor MTA in New York

$599 M (2012)

PPC, bogies and servicesfor high-speed rail in

Saudi Arabia$367 M (2012)

210 commuter carsfor RATP/STIF in Paris

$417 M (2012)

180 Commuter carsfor S-Bahn Hamburg$427 M (2013)

O&M forMetrolinx and Go Transit

$937 M (2012)

384 MOVIA metro carsfor Stockholm Metro$771 M (2013)

130 TRAXX Locomotives2

for DB$573 M (2013)

775 metro cars1

for BART in San Francisco$1.5 B (2012)

240 TRAXX Locomotivesfor Transnet in South Africa$1.2 B (2014)


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BT offers the broadest portfolio in the rail industryahead all competitors

67

BT offers a full spectrum of efficient rail solutions from complete trains to sub-systems,services, systems integration, and signaling

Rolling stockSystem

integration Signalling Head-quartersLight-rail Metros

Commuterand

Regional

High speedand

Intercity

Loco-motives Monorail

BT GermanyAlstom FranceAnsaldo1 ItalyCAF SpainCNR2 ChinaCSR2 3 ChinaGE U.S.A.Hitachi U.K.Kawasaki JapanRotem KoreaSiemens GermanyStadler SwitzerlandThales France

1. Includes products from AnsaldoBreda and Ansaldo STS as part of Finmeccanica2. In December 2014, CSR/CNR announced their intent to merge but no change in their portfolio is expected3. In November 2014 ,BT and CSR signed an agreement to create a joint venture to develop and manufacture INNOVIA

vehicles for urban and airport transit systems for the Chinese marketSource: Publicly available from competitor reports/websites

Bombardier Transportation’s key competitors


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The accessible rail market is expected to grow over thenext six years


BY REGION

Europe

Asia Pacific

NAFTA

Others

2017-19

112.8

41.6

25.3

21.8

24.1

2011-13

96.2

37.3

18.9

16.9

23.1

Rolling Stock

Services

SignallingSystems

2017-19

112.8

50.5

40.2

19.52.6

2011-13

96.2

45.1

33.0

16.12.0

BY SEGMENT

2017-19:112.8

CAGR+2.7%

2011-13:96.2

Driven by global market trends such as a strong urbanization, an increasing population and increasingenvironmental awareness, the rail industry is forecasted to grow in all segments across all regions.

ANNUAL ACCESSIBLE MARKET BY SEGMENT[3-YEAR AVERAGE, $B]

ANNUAL ACCESSIBLE MARKET BY REGION[3-YEAR AVERAGE, $B]

Source: Based on UNIFE World Rail Market Study, published in 2014. UNIFE figures are published ineuro. An exchange rate of 1€ = $1.33745, the average cumulative exchange rate over the 2011-13period, was used to convert all figures. The annual accessible market volume for the period of 2012-2014 is illustrated in the financial report of 2014.

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Europe shows a constant positive development especiallydriven by large commuter orders

69

Outlook§ Western European countries such as Germany and

Belgium are planning to invest in large regional andcommuter projects

§ In the United Kingdom, significant rolling stock andservices orders for several franchises are expected

§ Turkey will invest in new rolling stock for their highspeed network

§ High potential exists in Eastern Europe, especiallyin Hungary, Poland and the Czech Republic, wherelarge ageing fleets could be replaced or renewed


Rolling Stock

Services

Signalling

Systems

2017-19

41.6

18.7

13.5

9.1

0.3

2011-13

37.3

16.5

12.5

7.9

0.4

BY SEGMENT

2017-19:41.6

2011-13:37.3

EUROPEAN ANNUAL ACCESSIBLE MARKET[3-YEAR AVERAGE, $B]

CAGR+1.8%


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Asia-Pacific is the most promising region in terms ofgrowth, especially for rolling stock

70

Outlook§ China is expected to show growth, especially in the

segments of commuter and regional trains,monorails and APM

§ South-East Asian market activities will be strong inthe mass transit segment in order to react to thestrong needs for high capacity infrastructure raisedby urbanization

§ Large locomotive and commuter trains orders areexpected in India

§ Australia will continue to expand its railinfrastructure by investing in LRV, commuter trainsand signalling solutions


BY SEGMENT

2017-19:25.3

2011-13:18.9

BY SEGMENT

0.5

Services

SignallingSystems

2017-19

25.3

14.1

6.5

4.20.5

2011-13

18.9

10.5

4.6

Rolling Stock

3.3

=

CAGR+5.0%

ASIA-PACIFIC ANNUAL ACCESSIBLE MARKET[3-YEAR AVERAGE, $B]


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Investments in North America are expected showcontinued growth across all segments

71

Outlook§ In Canada there are opportunities for light rail

vehicles, services and signalling over the nextyears

§ Large cities in the U.S. such as New York, Chicagoand Atlanta announced significant tenders for metrosolutions in order to relieve traffic in their citycentres

§ Service activities in the U.S. will show stronggrowth, especially for operation and maintenanceactivities

§ In Mexico, we expect orders in the metro andcommuter segments


2.20.3

Rolling Stock

Services

2017-192011-13

5.6

21.8

Signalling

2.7

Systems16.9

0.6

4.5

10.0

12.9

BY SEGMENT

2017-19:21.8

2011-13:16.9

CAGR+4.3%

NORTH AMERICAN ANNUAL ACCESSIBLE MARKET[3-YEAR AVERAGE, $B]


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Rest of the World region reacts to the rapid urbanization andshows significant opportunities for high capacity solutions

72

Outlook§ Significant automated mass transit systems are

being tendered in UAE and Saudi Arabia

§ Russia and other CIS states continue to renew theirageing fleets and infrastructure across all segments

§ The strong need for high capacity solutions forrapid urbanization leads to further opportunities forurban mobility investments in Brazil


2017-19

24.1Systems

Signalling

Rolling Stock

Services

12.0

7.3

3.5

1.3

2011-13

23.1

13.7

5.9

2.70.8

BY SEGMENT

2017-19:24.1

2011-13:23.2

CAGR+0.7%

ROW ANNUAL ACCESSIBLE MARKET[3-YEAR AVERAGE, $B]


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Locomotives Brazil

Monorail & Signalling Peru

APM, Signalling & Metros GCC1

Locomotive & Services India

Commuter, LRV & Signalling Australia

Monorail & APM China

Selection of upcoming key opportunities for BT by region

73 1. Gulf Cooperation CouncilRemark: Upcoming key bids until end of 2016 considered

High Speed, Locomotives &Services Turkey

Regional Trains & LRV Belgium

Commuter & Regional Trains Germany

Metro, Signalling & Services U.S.

LRV & Services Canada

Metro & Commuter Trains Mexico

Key projects in Europe

Key projects in Rest of World

Key projects in North America

Key projects in Asia-Pacific


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Altogether, our long-term market drivers have a positiveimpact on investments in rail infrastructure

74 OUR MARKETS

Population growth &mass urbanization

Global market drivers

The worldwide population will increase from approximately 7.2 to 9.6 billionby 2050 together with a growing share of people living in urban areas from54% to 66% in the same time period.1 Population growth and urbanizationcreate an increasing demand for high capacity solutions for publictransport, especially in congested cities and areas.

Urbanization

Liberalization

Most of the rolling stock business is conducted with rail operators from thepublic sector. Public indebtedness and austerity measures may impedepublic tender processes for some new railway projects however at thesame time, governments tend to increase investments in infrastructureduring these times. Together with the long-term market environment andgrowing demand, we do not expect a decrease in overall investments inrail transportation.

Liberalization attracts more private operators to enter the market andinvest into new rail equipment and services. The European Commissionsupports the liberalization of domestic passenger rail services within theEU.

Public funding

Indicates a favourable, neutral or negative trend in the market categories in whichwe compete.+ = –

+

=

+

+

Environmentalawareness

Governments increasingly commit to long-term climate and energy goals.Measures to reach these goals include investments into eco-friendlytransport solutions such as rail transport. Rail is responsible for less than3.3% of the transport energy-related CO2 emissions compared to 72.6%for road transportation.2

1. According to the United Nations: “World Urbanization Prospects: The 2014 Revision”2. According to the International Union of Railways: “Railway Handbook 2014. Energy Consumption & CO Emissions”

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75

Caution Regarding Non-GAAP Financial Measures

This presentation is based on reported earnings in accordance with International Financial Reporting Standards(IFRS). Reference to generally accepted accounting principles (GAAP) means IFRS, unless indicated otherwise.This presentation is also based on non-GAAP financial measures including EBIT before special items, adjustednet income, adjusted earnings per share and free cash flow. These non-GAAP measures are mainly derivedfrom the interim consolidated financial statements, but do not have a standardized meaning prescribed by IFRS;therefore, others using these terms may calculate them differently. Management believes that providing certainnon-GAAP performance measures, in addition to IFRS measures, provides users of our financial reports withenhanced understanding of our results and related trends and increases transparency and clarity into the coreresults of our business. Refer to the Non-GAAP financial measures and Liquidity and capital resources sectionsin Overview and Analysis of results sections in Aerospace and Transportation in the Corporation’s MD&A for thefiscal year ended December 31, 2014 for definitions of these metrics and reconciliations to the most comparableIFRS measures.

The Challenger 650 aircraft, Global 7000 and Global 8000 aircraft, and CSeries programs are currently indevelopment, and as such are subject to changes in family strategy, branding, capacity, performance, designand/or systems. All specification and data are approximate, may change without notice and are subject to certainoperating rules, assumptions and other conditions. This document does not constitute an offer, commitment,representation, guarantee or warranty of any kind. The configuration and performance of the aircraft may differfrom the descriptions and photos provided and, together with any related commitment, representations, guaranteeor warranty, shall be determined in a final purchase agreement.

Aircraft Program Disclaimer

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