Moog to Call 7 1/4% Senior Subordinated Notes Due in 2018

EAST AURORA, NY—(Marketwired – Nov 19, 2013) – Moog Inc. (NYSE: MOG.A) (NYSE: MOG.B) announced today that a notice of redemption is being issued to the holders of the Company’s 7 1/4% senior subordinated notes (the “Notes”) due in 2018, to call and retire all of the outstanding Notes. The Notes, which are in the aggregate principal amount of $200 million, will be repurchased at 103.625% on December 19, 2013 pursuant to an early redemption right. Interest will be paid on the Notes through the redemption date. The trustee for the Notes is Wells Fargo Bank, N.A.

The Notes will be redeemed using proceeds drawn from the Company’s U.S. revolving credit facility. This transaction does not alter the Company’s financial projections for net earnings and diluted earnings per share for the full fiscal year 2014 that were included in its Form 10-K dated and filed on November 12, 2013. For the year ending September 27, 2014, net earnings are expected to be between $180 million and $189 million and diluted earnings per share are expected to be between $3.90 and $4.10.

For the first quarter of fiscal 2014 ending December 28, 2013, the Company estimates the cost of calling in the Notes to be approximately $.12 per share related to the call premium to be paid. This cost was not considered in the Company’s previous quarterly projections. Offsetting this will be lower interest costs over the remaining three quarters of the fiscal year 2014, also not previously considered in the Company’s projections. The full year impact on EPS will be negligible.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, wind turbines, marine and medical equipment. Additional information about the company can be found at www.moog.com.