Q3 Financial PerformanceOctober 30, 2018  www.albint.com | AIN | #albint 

 ‘Non-GAAP’ Items and Forward-Looking Statements  This presentation contains the following non-GAAP measures:Percentage changes in net sales, excluding currency rate effects (for each segment, and the Company as a whole);Adjusted EBITDA (for each segment, and the Company as a whole; absolute and as a percentage of sales);Net debt; andNet income per share attributable to the Company, excluding adjustments. We think such items provide useful information to investors regarding the Company’s core operational performance. See the Company’s earnings release (which accompanies this presentation) for additional information including reconciliations to GAAP measures.  This presentation also may contain statements, estimates, or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the Company’s historical experience and our present expectations or projections. We disclaim any obligation to update any information in this presentation to reflect any changes or developments after the date on the cover page. Certain additional disclosures regarding our use of these ‘non-GAAP’ items and forward-looking statements are set forth in our second-quarter earnings press release dated October 30, 2018, and in our SEC filings, including our most recent quarterly reports and our annual reports for the years ended December 31, 2015, 2016, and 2017. Our use of such items in this presentation is subject to those additional disclosures, which we urge you to read.  2 

 Net Sales by Segment  3    (in thousands, except percentages)   Net SalesThree Months endedSeptember 30, 2018 2017      PercentChange  Impact of Changesin CurrencyTranslation Rates  Increase /(decrease) due to ASC 606  Percent Changeexcluding Currency Rate and ASC 606 Effects  Machine Clothing (MC)   $158,971   $150,694   5.5%   $(1,225)   $3,336   4.1%  Albany Engineered Composites (AEC)   94,282   71,447   32.0%   (441)   (5,028)   39.6%  Total   $253,253   $222,141   14.0%   $(1,666)   $(1,692)   15.5%    (in thousands, except percentages)   Net SalesNine Months endedSeptember 30, 2018 2017      PercentChange  Impact of Changesin CurrencyTranslation Rates  Increase /(decrease) due to ASC 606  Percent Changeexcluding Currency Rate and ASC 606 Effects  Machine Clothing (MC)   $469,758   $440,093   6.7%   $8,675   $8,404   2.9%  Albany Engineered Composites (AEC)   269,701   196,896   37.0%   3,085   (2,062)   36.5%  Total   $739,459   $636,989   16.1%   $11,760   $6,342   13.2% 

 Gross Profit Margin by Quarter  4  Includes 7.3% impact from profitability revision in two AEC contracts 

 Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment  5    Three Months ended September 30, 2018         (in thousands)   Machine Clothing    Albany Engineered Composites  Corporate expenses and other   Total Company  Operating income/(loss) (GAAP)  $50,310  $3,612  $(12,477)   $41,445  Interest, taxes, other income/expense  -  -  (12,961)   (12,961)  Net income (GAAP)   50,310   3,612  (25,438)   28,484  Interest expense, net   -  -   4,621   4,621  Income tax expense  -  -  11,491  11,491  Depreciation and amortization   7,725   10,894   1,183  19,802  EBITDA (non-GAAP)   58,035  14,506   (8,143)  64,398  Restructuring expenses, net   371   2,189    (8)   2,552  Foreign currency revaluation (gains)/losses   (38)   242  (3,439)   (3,235)  Write-off of inventory in a discontinued product line  -  -  -  -  Pretax (income)/loss attributable to noncontrolling interest in ASC  -   (397)  -   (397)  Adjusted EBITDA (non-GAAP)  $58,368  $16,540  $(11,590)  $63,318  Three Months ended September 30, 2017          Machine Clothing    Albany Engineered Composites    Corporate expenses and other    Total Company   $42,679   $(9,301)  $(10,450)   $22,928  -  -   (7,708)   (7,708)   42,679   (9,301)   (18,158)   15,220  -  -   4,429   4,429  -  -   3,809   3,809   8,380   8,591   1,159   18,130   51,059   (710)   (8,761)   41,588   96   5,407   -   5,503   1,114   137   266   1,517  -   3,155  -   3,155  -   136   -   136  $52,269   $8,125   $(8,495)   $51,899 

 Net Income (GAAP) and Adjusted EBITDA (non-GAAP) by Segment  6    Nine Months ended September 30, 2018         (in thousands)   Machine Clothing    Albany Engineered Composites  Corporate expenses and other   Total Company  Operating income/(loss) (GAAP)  $131,921   $9,979  $(36,940)  $104,960   Interest, taxes, other income/expense  -  -  (35,688)  (35,688)  Net income (GAAP)  131,921  9,979  (72,628)  69,272  Interest expense, net   -  -  13,530  13,530  Income tax expense  -  -  23,131  23,131  Depreciation and amortization  24,269  32,297  3,857  60,423  EBITDA (non-GAAP)  156,190  42,276  (32,110)  166,356  Restructuring expenses, net  10,523  2,968  223  13,714  Foreign currency revaluation (gains)/losses   (852)   544  (2,940)   (3,248)  Write-off of inventory in a discontinued product line  -  -  -  -  Pretax (income)/loss attributable to noncontrolling interest in ASC  -  (619)  -   (619)  Adjusted EBITDA (non-GAAP)  $165,861   $45,169   $(34,827)  $176,203   Nine Months ended September 30, 2017          Machine Clothing    Albany Engineered Composites *   Corporate expenses and other    Total Company   $119,366   $(32,242)  $(31,663)   $55,461  -  -   (28,034)   (28,034)   119,366   (32,242)   (59,697)   27,427  -  -   13,042   13,042  -  -   12,138   12,138   25,098   24,613   3,545   53,256   144,464   (7,629)   (30,972)   105,863   1,012   9,208   -   10,220   4,427   171   2,318   6,916  -   3,155  -   3,155  -   (178)  -   (178)  $149,903   $4,727   ($28,654)   $125,976  * Includes $15.8 million charge for AEC contract revisions 

 Earnings Per Share  7  *Includes $0.31 charge for AEC contract revisions      Per share amounts (Basic)  Three Months endedSeptember 30, 2018 2017     Nine Months endedSeptember 30, 2018 2017 *    Net income attributable to the Company, as reported (GAAP)  $0.87  $0.47  $2.13  $0.85  Adjustments:          Restructuring expenses, net  0.06  0.11  0.30  0.20  Discrete tax adjustments and effect of change in income tax rate  (0.01)  (0.10)  (0.13)  (0.07)  Foreign currency revaluation losses/(gains)  (0.07)  0.03  (0.07)  0.14  Write-off of inventory in a discontinued product line  -  0.06  -  0.06  Net income attributable to the Company, excluding adjustments (non-GAAP)  $0.85  $0.57  $2.23  $1.18 

 Total Debt (GAAP) and Net Debt* (non-GAAP) $ thousands  8  * Total debt less cash see table 22 for reconciliation of total debt to net debt