GLOBALLY DIVERSIFIED IN TRANSPORTATION AND DEFENSE MARKETS

Cubic Corporation Overview January 13, 2015 Bradley H. Feldmann President and CEO Cubic Corporation

Raymond James Annual Government Solutions & Technology Summit Washington, D.C.

NYSE: CUB

This report, including the documents that we incorporate by reference, contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to the “safe harbor” created by those sections. Any statements about our expectations, beliefs, plans, objectives, assumptions or future events or our future financial and/or operating performance are not historical and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “predict,” “potential,” “opportunity” and similar words or phrases or the negatives of these words or phrases. These statements involve estimates, assumptions and uncertainties, including those discussed in “Risk Factors” in the Company’s annual report on Form 10-K for the year ended September 30, 2014 and subsequently filed 10-Qs, and throughout this filing that could cause actual results to differ materially from those expressed in these statements. Because the risk factors referred to above could cause actual results or outcomes to differ materially from those expressed in any forward-looking statements made by us or on our behalf, you should not place undue reliance on any forward-looking statements. In addition, past financial and/or operating performance is not necessarily a reliable indicator of future performance and you should not use our historical performance to anticipate results or future period trends. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for us to predict which factors will arise. In addition, we cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Safe Harbor

2

NYSE: CUB

3

Cubic Corporation Leading systems and services company in transportation and defense

Leading provider of air and ground combat training systems for the

U.S. and allied nations

Installed/delivered ACMI systems at 60+ locations worldwide

Installed and delivered 20+ ground combat training centers

220,000+ laser engagement simulation kits delivered to date

Fielded 1,000+ virtual small arms trainers

Emerging market leader for immersive game-based training

Defense Systems Mission Support Services Leading provider of highly

specialized support services for military and security forces of the

U.S. and allied nations

Prime contractor at 40+ military training and support facilities

Supports all 4 of the U.S. Army’s CTCs Defense modernization support for

13 NATO entrants in Central and Eastern Europe

Transportation Systems Leading provider of large-scale

intelligent transportation systems and services worldwide

7bn passengers annually Over $14bn in revenues collected

annually Over 90,000 devices installed

PRODUCTS AND SYSTEMS DELIVERED TO

THE UNITED STATES & 35+ ALLIED NATIONS

(from 1973 – 2014)

OVER 400 PROJECTS TO DATE

40 MAJOR METROPOLITAN MARKETS ON 5 CONTINENTS

COMPREHENSIVE RANGE OF EXERCISE AND TRAINING EVENTS SUPPORTED WORLDWIDE

NYSE: CUB

Our Vision

Be the global market leader by winning the customer to accelerate our growth

Build NextCity globally Grow training businesses globally Develop niche C4ISR business with superior portfolio margins Implement OneCubic initiative to drive efficiency Improve operational performance and continue to efficiently

deploy capital Deliver superior long-term shareholder returns

4

Strategy Initiatives

NYSE: CUB

Sales Mix

Products and Services Services 58% Products 42%

Customer Location United States 54% United Kingdom 21% Australia 12% Far East 8% Other 5%

Business Segment Transportation Systems 43% Mission Support Services 28% Defense Systems 29%

Contract Type Fixed Price 78% Other 22%

FY14 Consolidated sales $1.398 billion

5

Diversified sales mix ensures steady growth.

NYSE: CUB

Consolidated Results

$1,302

$1,404

$1,361 $1,398

$1,240$1,260$1,280$1,300$1,320$1,340$1,360$1,380$1,400$1,420

FY11 FY12 FY13 FY14

$119 $136

$41

$92

$141 $159

$117 $123

$0$20$40$60$80

$100$120$140$160$180

FY11 FY12 FY13 FY14

*EBITDA is a non-GAAP performance measure that excludes income taxes, capital structure related expenses, non-operating income and expenses, and depreciation and amortization. It is calculated by adding back depreciation and amortization to operating income. For a reconciliation of net income attributable to Cubic to Adjusted EBITDA, please visit www.cubic.com.

Sales ($mm)

Operating Profit/Adjusted EBITDA ($mm)

(Non-GAAP)

Total Backlog ($mm)

Operating Profit Adjusted EBITDA

Transportation Defense

$129

-$55

-$13

$115

-$100

-$50

$0

$50

$100

$150FY11 FY12 FY13 FY14

Cash Flow from Operations ($mm)

$2,781 $2,810 $2,647 $3,180

$0$500

$1,000$1,500$2,000$2,500$3,000$3,500

FY11 FY12 FY13 FY14

6

NYSE: CUB

FY14 Results And FY15 Guidance

FY14 results

FY15 guidance

Sales (bn) $1.398 $1.425 to $1.465

EPS $2.59 $2.60 to $2.85

FY15 EPS impacts Foreign currency rates OneCubic initiatives Increase in R&D for C4ISR and NextCity Increase in tax rate

$0.60

7

NYSE: CUB

8

Enterprise Resource Planning (ERP)

Facilities Consolidation

Shrink footprint in high cost locations Consolidate manufacturing operations

New ERP system to ensure improved operations

Investment in FY15 to lower G&A and improve gross profit over time. Longer term, we are taking cost out of the business to improve shareholder returns.

Implementation

2015 to

2018

OneCubic Initiatives

Innovation Spur organic growth Ensure market leadership Intific will help secure Advanced program Funding

Fully integrated marketing pipeline Standardized capture management Enhanced program management

Operational Improvements

Streamline operations to deliver services globally Global Business Services

NYSE: CUB

FY13 (mm)

FY14 (mm)

Total backlog $1,526.4 $1,994.6

Sales $529.5 $599.7

Operating profit $66.8 $65.9

Profit margin 13% 11%

9

Transportation Systems

Recent Events Awarded $700 million, seven-year contract renewal from TfL* for ticketing and fare collection services in

London, starting in August 2015. (July 29, 2014)

– Includes an option to extend the contract for three years, increasing the expected total contract value to more than $1 billion.

– Largest contract in company history. Awarded $85 million, six-year contract from TfL for intelligent travel signals across London.

(July 31, 2014)

Awarded first project outside North America for NextBus with our current customer TransLink, the public transportation provider in south east Queensland, Australia. (October 22, 2014)

Awarded industry’s first integrated mobile application and system supporting a wide variety of mobile ticketing, mobile top up, contactless mobile payment using Near Field Communication, account management and advanced trip planning features that work across all three regional agencies in the Chicago area, including the Chicago Transit Authority, suburban bus operator Pace, and Metra, the commuter rail system. (December 15, 2014)

* TfL – Transport for London

Performance Summary

NYSE: CUB

10

Transportation Systems

On-Site Management

Business Support Field Services

Central Systems Operations Support

Intelligent Traffic Management Systems

Patron Support

Real-Time Passenger Information

NYSE: CUB

CTS NextCity Vision

Cubic is leading the advancement of technology in the mass-transit market…

… and is implementing integrated fare payment and information systems across all modes of transport

Smart Mobility Planning

Leveraged Service

Solutions

Mobile Payments & Information

Data Analytics

Single Transport Account

Next Generation

Devices

Currency Account based Magnetic Strip Cards Contactless Smart Cards

Paym

ents

N

extC

ity V

isio

n Ke

y Cu

stom

ers

Chicago ChicagoCard™ 1999

London Oyster® 1998

Bart EZ Rider 1999

MARTA Breeze™ 2003

PATH SmartLinkSM

2003

PATCO FREEDOM® Card 2005

Los Angeles TAP® 2002

Brisbane go card 2003

MTC Clipper® Card 2009

MTA CharmCard™ 2001

So. Florida EASY® Card

2010

London Future Ticketing Agreement

2008

Sydney 2010

Vancouver 2011

CTA Ventra Card 2012

11

NYSE: CUB

FY13 (mm)

FY14 (mm)

Total backlog $493.5 $596.6

Sales $363.0 $400.6

Operating profit $14.2* $26.8

Operating profit margin 4% 7%

12

Defense Systems

Recent Events Awarded $51 million in contract orders to support Home-Station Training (TVS and I-MILES IWS)

for the U.S. Army. (November 24, 2014)

Awarded task order under Maneuver Center of Excellence ID/IQ contract to provide interactive doctrine training courseware for the U.S. Army. (November 13, 2014)

Awarded $20 million Contract From the Royal Australian Air Force For New Air Combat Training System. (November 11, 2014)

Awarded contract with potential value of $200 million to provide the Army Mobile Instrumented Training System (AMITS) for the U.S. Army and international customers. (August 6, 2014)

*CDS operating profits were negatively impacted in 2013 by $7.8 million of restructuring charges and by a $2.8 million write-down of inventory in our global asset tracking product line in 2013.

Performance Summary

NYSE: CUB

13

Defense Systems

Live Training

Closest experience to real

combat, essential for readiness Air combat training systems Laser engagement

simulation system Ground combat training

centers

Virtual Skills Training

A realistic operational

environment in a virtual scenario Small arms engagement

skills trainers Mine Resistant Ambush

Protected (MRAP) Vehicle Trainer

Game-Based Immersive Training

Cost-effective interactive education and training

Game-based courseware Mission Bay Trainer/Littoral

Combat Ships Interactive doctrine training

courseware

Future

Live, Virtual, Constructive and Gaming

Stable global market Growing market for cost-efficient training

Credit: Northrop Grumman –"Fire Scout" unmanned helicopter

C4ISR

Niche solutions Secure wideband

data links Personnel locator

system SIGINT receivers Tactical networking Cross domain

NYSE: CUB

December 2014: Acquired DTECH Labs, Inc.

Strategic fit: Facilitates entry into SOCOM market and tactical baseband networking

Market entry: On-the-Move, At-the-Quick-Halt, and Man Pack portable tactical/intelligence environment—allows customers to combine their tactical strategic networks for mission critical applications and data

Skill set: Rapid prototyping, value-added product integration, customer intimacy, modular architecture

C4ISR

Our near-term goal is to build a $200 million specialized C4ISR business.

14

NYSE: CUB

FY13 (mm)

FY14 (mm)

Total backlog $626.7 $616.0

Sales $468.7 $398.1

Segment operating profit $(36.1) $7.8*

Segment profit margin - 2%

15

Mission Support Services

Recent Events Awarded $65 million task order under the U.S. Navy's Fielded Training Systems Support (FTSS) III Indefinite

Delivery/Indefinite Quantity (IDIQ) contract to provide operations and maintenance support of aviation training devices for the MH-60R, MH-60S and other aircraft. (June 18, 2014)

Awarded $57 million contract to operate the Korea Battle Simulation Center (KBSC) in providing battle simulation training support to the United States Forces Korea, the Eighth U.S. Army and other U.S. units and partner nations. (August 11, 2014)

Awarded $46.5 million contract from the U.S. Marine Corps to support the USMC Marine Air Ground Task Force (MAGTF) Training Systems Support (MTSS) program. (October 29, 2014)

Awarded $15 million task order under the U.S. Army Forces Command (FORSCOM) Operations Training and Resource Support Services (OPTARSS) II multiple award ID/IQ contract. (November 4, 2014)

Leadership Transition: William Toti named president of Mission Support Services. Toti formerly led a $1.3 billion per year business unit and successfully led the HP team that won the re-compete of the Next Generation Enterprise Network project. (June 26, 2014)

* MSS operating income increased by $43.9 million in 2014, because we recorded a goodwill impairment charge of $50.9 million in 2013

Performance Summary

NYSE: CUB

16

Mission Support Services

Live, Virtual and Constructive Training

Exercises

Information Technology

and Cyber Solutions

Operations, Maintenance and Logistics

Engineering and Related Technical Support

Education and Leader Development

Operations and Analysis

Defense Modernization

Port Security

National Security and Intelligence

Special Operations Forces Training

NYSE: CUB

17

Acquisition Strategy

CY Company Strategic Rationale

1996 Acquired 50% of subsidiary Westinghouse Cubic Ltd (WCL)

AFC* equipment design / fabrication / installation

1997 Thorn Transit System Intl U.K. AFC equipment / British Rail

2009 ERG Assets Full-service customer service center in San Francisco Bay area and RailCorp contract, which gave CTS entire Sydney AFC market

2012 NextBus Real-time passenger information systems

2013 Serco UK Transport Solutions Business

Complex traffic management systems for monitoring of urban and intra-urban road networks

CY Company Strategic Rationale

1994 Titan Applications/Services Diversify into defense services

2008 Omega Training Group Logistics support services, BRAC, and Ft. Benning

2010 Abraxas Entry into National security/Intelligence market

2012 NEK Special Programs Group Advanced and specialized courses for the United States Special Operations Command

CY Company Strategic Rationale

2000 Applied Data Technology Inc. Air combat and defense –related technologies

2000 Oscmar International Laser engagement simulation systems and international expansion

2003 ECC International Virtual training systems

2013 PS Management Consultants Expand presence in Australia

2013 AIS Complements EST product line with live-fire target technology

2014 Intific Game-based solutions in modeling and simulation, training and education, cyber warfare, and neuroscience

2014 DTECH Labs Build C4ISR business

Transportation Systems Consolidation/geographic

reach in fare collection Expand services capability NextCity strategy

Real-time information Intelligent transportation

systems

Mission Support Services Build scale in training Broaden scope of services

Logistics Intel Special Forces

Defense Systems Consolidation/geographic

reach in live training Virtual training C4ISR

Goal: Grow 10% per year

Organic Acquisitions

* AFC – Automated fare collection

NYSE: CUB

18

Capital Allocation Strategy

AcquisitionsCapital ExpendituresDividends

Acquisitions 75% Capital Expenditures 15% Dividends 10%

Capital Allocation Targets % of Net Income

Cubic 609% S&P 40%

15-Year Performance

Cubic has a history of building market leading businesses. Our goal is to generate steady long-term growth in our businesses and to generate attractive returns

for our shareholders over the long term.

Source: Google Finance

NYSE: CUB

Summary

19

Leading positions across multiple markets

Broadly diversified international presence

Strong and stable financial position

New leadership team stepping up tempo

Successful track record of delivering long-term returns to shareholders