Fiscal 2010 Second Quarter Earnings Call

March 17, 2010 Bob Arzbaecher, Chairman and CEO Andy Lampereur, CFO Karen Bauer, Investor Relations

Safe Harbor
Statements in this presentation that are not historical are considered forward-looking statements and are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. Those factors are contained in Actuants Securities and Exchange Commission filings. All estimates of future performance are as of March 17, 2010. In this presentation certain non-GAAP financial measures may be used. Please see the supplemental financial schedules at the end of this presentation, accompanying the earnings press release, or refer to the Investors section of Actuants website (www.actuant.com) for a reconciliation to the appropriate GAAP measure.

Second Quarter Highlights

EPS increased 73% to $0.19 from $0.11 last

year, excluding restructuring costs

Year-over-year core sales rate of change

improved substantially to -3% from -20% last quarter

EBITDA margins (excluding restructuring costs)

increased 330 basis points compared to last year

Several key restructuring projects completed Year-to-date free cash flow on track to reach full

year $110 million target

Second Quarter Operating Results

(US$ in millions except EPS)

Sales EBITDA Diluted EPS- GAAP

F' 2009 $293.8 $26.2 8.9% $0.08

F' 2010 $294.2 $29.7 10.1% $0.10

Change 13% 25%

Second Quarter Diluted EPS Reconciliation

F' 2009 Continuing operations - GAAP Restructuring charges Adjusted EPS $0.08 0.03 $0.11 F' 2010 $0.10 0.09 $0.19

73% Adjusted EPS Growth - Above High End of Guidance Range

5

Restructuring Update
Several major projects substantially completed in Q2 Three North American Electrical offices combined California marine plant consolidated into Mexico Simplex manufacturing combined with Enerpac Kopp Czech plant consolidated into Tunisia Incremental projects launched include: North American management consolidation in Energy UK Energy plant consolidation Estimating approximately $5M of second half 2010

restructuring costs

Permanent Reduction to ATUs Cost Structure

6

Year-Over-Year EBITDA Margin Change

EBITDA margin excluding restructuring and impairment charges for all periods presented

(basis points)

Consolidated Core Sales Trend

Sales (US$ in millions) Year-over-Year Core Sales Rate of Change

Significant Improvement in Core Sales Rate of Change

8

Industrial Segment
Sequential sales growth

Financial Snapshot
(US$ in millions)

despite seasonally weaker second quarter

Significant improvement in
Sales Op Income (1) Op Margin (1)

2nd Quarter 2010 $69 $15.8 22.9% 2009 $72 $16.0 22.3%
y-o-y change

1st Quarter -3% -1% 60

bps

year-over-year core sales rate of change

Margins improving with

2010 $65 $13.9 21.2%

sequential change

6% 14% 170
bps

higher sales and restructuring benefits

(1) Excludes restructuring charges of $4.9 million and $0.4 million in Q2 2010 and 2009, respectively, and $0.2 million in Q1 2010.
Sales

Sales Trend

Core Sales Change

Energy Segment
Normal seasonal decline in

Q2 revenue and margins

Seeing stabilization as core

Financial Snapshot
(US$ in millions)

2nd Quarter

1st Quarter
y-o-y change

sales decline in low/mid teens for three consecutive quarters

Refinery turnaround activity

Sales Op Income (1) Op Margin (1)

2010 $54 $5.6 10.4%

2009 $60 $5.9 9.9%

-9% -5% 50
bps

2010 $64 $11.5 18.0%

sequential change

-16% -51% (760)

bps

weak
Year-over-year margin

(1) Excludes restructuring charges of $1.7 million for Q2 2010 and $0.1 million for Q1 2010.
Sales

improvement reflects restructuring benefits

Sales Trend

Core Sales Change

10

Electrical Segment
NA retail continues to

Financial Snapshot
(US$ in millions)

improve, Europe DIY lagging

Later cycle utility and

2nd Quarter Sales Op Income (1) Op Margin (1) 2010 $82 $4.9 6.0% 2009 $90 $2.4 2.7%
y-o-y change

1st Quarter -9% 104% 330

bps

2010 $87 $3.4 3.9%

sequential change

-6% 44% 210

bps

commercial construction stable at low levels

Significant margin

improvement both yearover-year and sequentially due to restructuring benefits

(1) Excludes restructuring charges of $0.5 million and $1.2 million in Q2 2010 and 2009, respectively and $2.7 million in Q1 2010.

Sales

Sales Trend

Core Sales Change

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Engineered Solutions Segment

Year-over-year core sales

Financial Snapshot
(US$ in millions)

growth in a number of key markets including truck, auto and RV

Sequentially flat sales

2nd Quarter Sales Op Income (1) Op Margin (1) 2010 $89 $6.0 6.7% 2009 $73 ($2.7) -3.8%
y-o-y change

1st Quarter 23% -319% 1050

bps

2010 $89 $5.5 6.1%

sequential change

0% 9% 60
bps

despite seasonally weaker second quarter

Substantially improved

operating margins reflect both restructuring benefits and production volume

(1) Excludes restructuring charges of $2.0 million and $1.3 million in Q2 2010 and 2009, respectively and $0.4 million in Q1 2010.

Sales

Sales Trend

Core Sales Change

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Second Quarter Cash Flow / Net Debt

(US$ in millions)

Free Cash Flow

Net Debt Reconciliation

EBITDA Capital Expenditures Cash Interest Cash Taxes Working Capital/Other Free Cash Flow

$30 (4) (10) (8) 1 $9

Net Debt - November 30, 2009 Net acquisitions/divestitures Free Cash Flow FX / Other - net Net Debt - February 28, 2010

$391 (5) (9) $377

YTD Free Cash Flow of $51 Million on Track for Full Year of $110 Million
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Business Model Focus

We are Back To Focusing on the Fundamentals of our Business Model

14

Growth Initiatives
New Products Geographic Expansion

Expanded Served Markets

Acquisitions
Robust internal idea generation processes tied to strategic plans Disciplined focus on ROIC Criteria: Brings product, geography or technology Leading market position Strong leadership team Growthier end markets Examples: Energy - global reach / capabilities Industrial product line extensions / strengthening Integrated Solutions (IS) Electrical harsh environment, other growth niches Engineered Solutions emissions / other growth niches

Fiscal 2010 Outlook

(US$ in millions except EPS)

Sales Diluted EPS (1)

Fiscal 2009 $1,240 $0.95

Fiscal 2010 $1,225-$1,250 $0.87 - $0.97

Change (1)% - 1% (8)% - 2%

Fiscal 2010 Updated Assumptions:

Full year core sales decline of 2 - 4% vs. fiscal 2009 Second half year-over-year core sales growth of 7 - 9% $/Euro translation assumed at 1.35-1.40; $/Pound at 1.50-1.55 Sequential EBITDA margin expansion in Q3 and Q4 Excludes restructuring costs and future acquisitions
(1) Continuing operations, excluding restructuring, impairment and debt extinguishment charges

17

Third Quarter Outlook

(US$ in millions except EPS)

Sales Diluted EPS (1)

Fiscal Third Quarter 2009 2010 $285 $310 - 320 $0.22 $0.24 - $0.29

Increase 9% - 12% 9% - 32%

Third Quarter Fiscal 2010 Assumptions:

Consolidated core sales increase of 7 - 9% $/Euro translation assumed at 1.35-1.40; $/Pound at 1.50-1.55 Sequential and year-over-year EBITDA margin expansion Expect effective tax rate to be above last years unusually low 20% Q3

rate
Excludes restructuring costs and future acquisitions
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(1) Continuing operations excluding restructuring and impairment charges

EPS Guidance Summary

Full Year Fiscal 2010 Guidance Fiscal 2010 Diluted EPS (1) $0.87 - $0.97 Fiscal 2009 Diluted EPS (1) Change

Q1 Actual $0.20 $0.45 -56%

Q2 Actual $0.19 $0.11 73%

Q3 2010 Guidance $0.24 - $0.29 $0.22 9% - 32%

Im plied 4th Qtr Guidance $0.24 - $0.29 $0.18 33% - 61%

Continue to Expect Strong 2nd Half EPS Growth

19

(1) Continuing operations, excluding restructuring, impairment and debt extinguishment charges

Q&A
Future Key Dates: Third Quarter Fiscal 2010 Earnings June 17, 2010

Happy St. Patricks Day!

Supplemental Financial Data

Diluted Earnings Per Share Excluding Special Items

2001 Diluted Earnings per Share (EPS) Net of Tax Adjustments: Change in Accounting Principal Discontinued Operations Debt Extinguishment Costs Net Gain on Business Divestitures Restructuring Charge A/R Securitization Establishment Litigation Matters Related to Businesses Divested Prior to the Spin-off of APW, Ltd. Impairment Charge Tax Adjustment DILUTED EPS EXCLUDING SPECIAL ITEMS $ 0.71 $ 2002 (0.06) 0.17 0.24 0.25 2003 $ 0.59 2004 $ 0.66 2005 $ 1.21 2006 $ 1.50 2007 $ 1.69 2008 $ 1.93 2009 $ 0.24

0.03 (0.27) 0.03 0.01

0.03

(0.19) 0.45

(0.01)

(0.02)

(0.03)

(0.04)

0.15 0.02 0.24

0.07

0.07

0.16

0.08 0.29 $ 0.51 $ 0.60 $ 0.70 $ 0.92 (0.01) $ 1.19 (0.12) $ 1.43 (0.02) $ 1.70 (0.04) $ 2.00 $ 0.95

Note: Amounts may not add due to rounding

EBITDA
(US$ in millions)
2001 2002 ($3) 33 8 12 7 1 $107 (7) 0 (15) 2 5 5 11 24 31 0 $87 $84 6 $90 $106 $144 $182 $222 $263 $171 16 2 10 $68 $82 $80 (11) 37 (1) $144 (1) $177 (2) $217 (3) $252 10 $116 2003 $29 21 16 15 0 2004 $35 14 15 17 0 2005 $71 17 35 22 (1) 2006 $93 26 33 27 (0) 2007 $105 33 46 35 (0) 2008 $123 36 53 43 2009 $14 42 (0) 51

EBITDA
Net Earnings Net Financing Costs Income Tax Expense Depreciation & Amortization Minority Interest Change In Accounting Principle Discontinued Operations EBITDA Adjustments To EBITDA: Non-Continuing Businesses Debt Extinguishment Costs Net Gain On Business Divestitures Restructuring Charge Impairment Charges Litigation Matters Related to Businesses Divested Prior To The Spin-Off Of APW Ltd. $24 49 16 17

Adjusted EBITDA

Net Earnings Excluding Special Items

(US$ in millions)

2001 NET EARNINGS EXCLUDING SPECIAL ITEMS Net earnings Net of Tax Adjustments Change in Accounting Principal Discontinued Operations Debt Extinguishment Costs Net Gain on Business Divestitures Restructuring Charge Impairment Charges A/R Securitization Establishment Litigation Matters APW, Ltd. Tax Adjustments NET EARNINGS EXCLUDING SPECIAL ITEMS $24

2002 ($3) 7 10 11

2003 $29

2004 $35

2005 $71

2006 $93

2007 $105

2008 $123

2009 $14

1 (9) 1 0

(11) 25

(1)

(1)

(2)

(3)

10 1 16 19

10

4 $17 $25 $34 $49 (1) $70 (8) $88 (2) $106 (3) $127 $60

Cash Flow
(US$ in millions)
2001 Adjusted EBITDA Discontinued Operations Total EBITDA Cash Interest Cash Taxes Capital Expenditures PWC/Other Free Cash Flow Net Earnings (1) Free Cash Flow Conversion $87 $87 (47) (9) (5) 24 $50 $17 298% 2002 $84 $84 (30) (14) (7) (8) $25 $25 100% 2003 $90 $90 (20) (18) (13) 8 $47 $34 137% 2004 $106 $106 (12) (21) (11) (6) $56 $49 114% 2005 $144 1 $145 (15) (16) (15) (14) $85 $70 121% 2006 $182 3 $185 (23) (28) (20) (12) $102 $88 116% 2007 $222 4 $226 (28) (36) (31) 17 $148 $106 140% 2008 $263 7 $270 (35) (48) (44) 8 $151 $127 119% 2009 $171 (1) $170 (36) (20) (21) 57 $150 $60 248%

(1) Net earnings excluding special items (see previous slide) - excludes restructuring and impairment charges, discontinued operations, debt extinguishment charges and non-recurring income tax gains.