1. Third Quarter 2012 Earnings Conference Call October 18, 2012

2. Forward Looking Statements
Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of These statements may be identified by the use of forward-looking words or phrases such as “expects”, “projected”, “scheduled”, “could”, “believe”, “anticipated” and others. Such forward-looking statements involve numerous assumptions, known and unknown risks, uncertainties and other factors which may cause actual and future performance or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors include: achieving sales levels to fulfill revenue expectations; unexpected costs or charges, certain of which may be outside the control of the Company; general economic and business conditions; and competition For additional information identifying factors that may cause actual results to vary materially from those stated in the forward-looking statements, refer to our most recent 10-K for the year ended December 31, 2011 that is filed with the SEC and is also available at

3. Strong performance in uncertain markets
3Q 2012 Summary
Net sales increased 3%
Moderating growth
Acquisitions benefit offset by unfavorable foreign exchange rates
Operating margin of 17.1%
70 basis point improvement
Favorable price and commodity cost
Diluted EPS of $1.45
Higher tax rate in 3Q 12 – $0.06 negative impact
Strong performance in uncertain markets

4. Moderating organic growth, acquisitions +2%, foreign exchange (2%)
3Q 2012 Sales
($Millions)
Sales
End Markets
+3%
Non-residential
New Construction
Renovation and relight
Industrial
Energy markets
Industrial production
High voltage test equipment
Utility
Transmission
Distribution
Residential
Housing recovery continues
Moderating organic growth, acquisitions +2%, foreign exchange (2%)

5. Selling and Administrative
3Q 2012 Gross Margin and S&A
($Millions)
Gross Margin
Selling and Administrative
S&A%
+ 100 bps
+5%
Price realization
Lower commodity costs
Higher pension and benefit costs
Gross Margin expansion due primarily to pricing and lower commodity costs

6. Gross Margin improvement partially offset by higher S&A
3Q 2012 Operating Profit
($Millions)
Operating Profit
OP%
+8%
Drivers
YOY Δ
Comments
Gross Margin
Improved
Price and lower
commodity costs
S&A
Increased
Higher pension
and benefit costs
Gross Margin improvement partially offset by higher S&A

7. 3Q 2012 Total Other Expense and Tax Rate
($Millions)
Total Other Expense
Tax Rate (%)
+270 bps
-16%
Foreign exchange gains 3Q 12
No R&D credit in 3Q 12
Higher domestic income

8. ($Millions except EPS)
3Q 2012 Net Income and EPS
($Millions except EPS)
Net Income
(a)
Earnings Per Diluted Share
+ 6%
+6%
Increased operating profit
Higher tax rate
Higher net income
Net Income in this presentation refers to Net Income attributable to Hubbell
Continued earnings growth on modest sales increase

9. 3Q 2012 Electrical Segment Results
($Millions)
Sales
Markets
+5%
Industrial mixed
Residential improvement
Non-residential new construction slowdown
Acquisitions added 3%, FX unfavorable 2%
Operating Profit
+11%
Performance
Price realization and lower commodity costs
Higher costs largely offset by productivity
Sales and profit improvement

10. 3Q 2012 Power Segment Results
($Millions)
Sales
Markets
+<1%
North American electrical utility increased
International/construction weaker
FX unfavorable 2%
Performance
+1%
Operating Profit
Price and productivity in excess
of cost increases
Margin expansion on modest volume

11. Working capital utilization and higher pension funding
3Q 2012 Cash Flow
($Millions)
Key Drivers:
Increased working capital primarily due to higher volume
Other includes $15M increase in pension funding compared to 3Q 11
(a) Non-GAAP Financial measure – see appendix 1
Working capital utilization and higher pension funding

12. Strong sales and earnings growth in the first nine months of 2012
YTD 2012 Results
($Millions except EPS)
(a) Non-GAAP Financial measure – see appendix 1
Strong sales and earnings growth in the first nine months of 2012

13. YTD 2012 Electrical Segment Results
($Millions)
+7%
Sales
Markets
Industrial mixed: up due to higher energy markets
Higher residential demand
Non-residential aided by strong renovation
Acquisitions added 3%
+13%
Performance
Operating Profit
Price realization and lower commodity costs
Increased sales
Higher costs in excess of productivity
Overall markets mixed while margin expansion continues

14. YTD 2012 Power Segment Results
($Millions)
Sales
+9%
Markets
Increased distribution spending
Transmission projects active
Performance
Operating Profit
+19%
Increased sales
Price realization and productivity in
excess of cost increases
Strong revenue growth and margin expansion

15. Working capital utilization partially offset by higher earnings
YTD 2012 Cash Flow
($Millions)
Key Drivers:
Higher net earnings
Increased working capital primarily due to volume
Other includes $19.9M increase in pension funding compared to 2011
(a) Non-GAAP Financial measure – see appendix 1
Working capital utilization partially offset by higher earnings

16. Normal seasonality and slightly higher inventory days
Trade Working Capital
Non-GAAP Financial measure – see appendix 1
Normal seasonality and slightly higher inventory days

17. Strong capital structure supports investment flexibility
($Millions)
Includes unamortized discount
Non-GAAP Financial measure – see appendix 1
Strong capital structure supports investment flexibility

18. Outlook – 2012
Sales expected to increase approximately 6% compared to 2011
FY 2012 margin expected to increase approximately 70 bps
Free cash flow expected to equal net income
FY tax rate (excluding R&D) expected to be approximately 32%
Expect record EPS in 2012

19. End Markets – Medium/Long term outlook
Estimated %
Hubbell Sales
Transmission projects strong
Distribution GDP +
Core Industrial slow growth
Energy Markets positive
High voltage volatile
Utility
Industrial
Residential
Recovery underway
Nonresidential
New construction slowly recovers from trough levels
Renovation and relight strong long term prospects
Medium and longer term growth prospects are positive

20. Appendix 1 Reconciliation of Non-GAAP Financial Measures
Free Cash Flow
Hubbell Incorporated
Reconciliation of Net Cash Provided By Operating Activities (GAAP) to Free Cash Flow
Notes: Management believes that free cash flow provides useful information regarding Hubbell’s ability to generate cash without reliance on external financings. In addition, management uses free cash flow to evaluate the resources available for investments in the business, strategic acquisitions and further strengthening the balance sheet.
Net Debt to Capital
Hubbell Incorporated
Reconciliation of Net Debt to Capital
Notes: Management believes that net debt to capital is a useful measure regarding Hubbell’s financial leverage for evaluating the company’s ability to meet its funding needs.

21. Appendix 1 Reconciliation of Non-GAAP Financial Measures
Trade Working Capital (TWC) % of Sales
Hubbell Incorporated
Reconciliation of Trade Working Capital (TWC) % of Sales
Notes: Management believes that Trade Working Capital (TWC) % of Sales provides useful information regarding Hubbell’s ability to manage these important elements of cash flow.

22. Third Quarter 2012 Earnings Conference Call October 18, 2012