2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 458 COMPENSATION DISCUSSION AND ANALYSIS Main Components of Components 2016 Transformative Events Peer Group Other Elements Additional Policies Our 2017 peer group is comprised of the following companies: Company Description Revenue for FY2017 ($ in millions) AAR Corp. Provider of aviation services to the worldwide commercial aerospace and government/defense industries $1,902.1 Alliant Techsystems Inc. (nka: Orbital ATK, Inc.) Aerospace, defense, commercial products 4,764.0 Barnes Group Inc. Aerospace and industrial manufacturer 1,436.5 Bristow Group Inc. Offshore helicopter transport services 1,422.7 Curtiss-Wright Corp. Engineered, technologically advanced products and services 2,271.0 Echo Global Logistics, Inc. Technologically enabled business process outsourcing 1,943.1 Esterline Technologies Corp. Aerospace and defense manufacturer 2,026.8 GATX Corporation Railcar leasing 1,376.9 Hexcel Corporation Industrial manufacturer 1,973.3 Kansas City Southern International transportation 2,582.9 Park-Ohio Holdings Corp. Industrial supply chain logistics and diversified manufacturing industries 1,412.9 Rockwell Collins, Inc. Avionics and information technology systems and services provider 7,640.0 Ryder System, Inc. Truck rental, supply chain and fleet management services 7,329.6 Spirit Aerosystems Holdings, Inc. Aero structures manufacturer 6,983.0 Teledyne Technologies, Inc. Provider of enabling technologies for industrial growth markets 2,603.8 Tidewater Inc. Large offshore service vessels to global energy industry provider 490.9 TransDigm Group Inc. Commercial and military aerospace components manufacturer 3,552.7 Trinity Industries, Inc. Transportation, construction and industrial products manufacturer 3,662.8 Median Revenue of Peers* $2,148.9 Atlas Air Worldwide Holdings, Inc. 2,983.3 * B/E Aerospace Inc. was acquired by Rockwell Collins, Inc. in April 2017 and is no longer part of our peer group. 48 | Atlas Air Worldwide Holdings, Inc. 2018 Notice & Proxy Statement ATLAS AIR WORLDWIDE HOLDINGS, INC.