GADSDEN SCHNEIDER & WOODWARD LLP

success through attractive and aligned total rewards programs. Notable programs we offer to our full-time members include: • employer sponsored health insurance; • employer 401(k) matching contributions; • annual Woodward stock contributions for U.S. members; • a tuition assistance program; • training and professional development courses through our Woodward University curriculum; and • other values-based and technical development training Tenure of all members averages 10 years, reflective of our positive workplace culture. Our recruiting team uses internal and external resources to recruit highly skilled and talented workers, and we encourage and reward member referrals for open positions. In addition to our comprehensive investment in our members’ success, we strive to maintain an envir

option awards are granted with an exercise price equal to the market price of Woodward's stock at the date the grants are awarded, a 10 -year term, and generally have a four-year vesting schedule at a rate of 25 % per year. The fair value of options granted is estimated as of the grant date using the Black-Scholes-Merton option-valuation model using the assumptions in the following table. Woodward calculates the expected term, which represents the average period of time that stock options granted are expected to be outstanding, based upon historical experience of plan participants. Expected volatility is based on historical volatility using daily stock price observations. The estimated dividend yield is based upon Woodward’s historical dividend practice and the market value of its common

0, 2025 % of Net Sales 2024 % of Net Sales Net sales $ 3,567,064 100 % $ 3,324,249 100 % Costs and expenses: Cost of goods sold 2,610,772 73.2 2,447,770 73.6 Selling, general, and administrative expenses 329,823 9.2 307,499 9.3 Research and development costs 147,568 4.1 140,676 4.2 Interest expense 45,689 1.3 47,959 1.4 Interest income (4,189 ) (0.1 ) (6,458 ) (0.2 ) Other income, net (84,010 ) (2.4 ) (67,168 ) (2.0 ) Total costs and expenses 3,045,653 85.4 2,870,278 86.3 Earnings before income taxes 521,411 14.6 453,971 13.7 Income tax expense 79,300 2.2 81,000 2.4 Net earnings $ 442,111 12.4 $ 372,971 11.2 Other select financial data: September 30, 2025 September 30, 2024 Working capital $ 977,025 $ 820,101 Total debt 702,202 872,470 Total stockholders' equity 2,566,390 2,176,416 2025 RE

25 and 2024 and $ 1.4 million in 2023. We also grant equity retainer awards, or shares in lieu of cash, on a quarterly basis to our non-employee directors. These awards consist of fully vested shares of our Class B common stock or DSUs. We account for the quarterly director share awards and DSUs as liability-based in accordance with the applicable accounting standards for these types of share-based payments and remeasure the DSUs at the end of each reporting period through settlement. Expense related to our director liability-based awards was $ 1.0 million in 2025, $ 1.2 million in 2024, and $ 1.1 million in 2023. 13. COMMITMENTS AND CONTINGENCIES In the ordinary course of conducting our business, we become involved in certain legal matters and investigations including liability claims, ta

nt is estimated to approximate the fair value of the equipment. Lease payments primarily include base rentals and guaranteed residual values. In addition, we also collect one-time administrative fees and heavy vehicle use tax on our leases. We have elected to not separate the different components within the contract as the administrative fees were not material for the years ended December 31, 2025, 2024, and 2023. We have also elected to exclude all taxes assessed by a governmental authority from the consideration (e.g., heavy vehicle use tax). All of our leases require fixed payments, therefore we have no variable payment provisions. As of December 31, 2025 and 2024, investments in lease receivables were as follows: (in millions) December 31, 2025 December 31, 2024 Future minimum payments