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| (Mark One) |
| R          | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

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|        |  |
| £ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

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|                                                                  |  |  |  |
|                                                             | CLARCOR Inc. |   |
|                                                             | (Exact name of registrant as specified in its charter) |   |
| DELAWARE                                                         | 36-0922490 |
| (State or other jurisdiction of incorporation or organization)   | (I.R.S. Employer Identification No.) |
| 840 Crescent Centre Drive, Suite 600, Franklin, TN          | 37067 |
| (Address of principal executive offices)                         | (Zip Code) |
| Registrant’s telephone number, including area code:        | 615-771-3100 |
|                                                             |
| Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class                                              | Name of each exchange on which registered |
| Common Stock, par value $1.00 per share                          | New York Stock Exchange |
| Preferred Stock Purchase Rights                                  | New York Stock Exchange |
|                                                             |
| Securities registered pursuant to Section 12(g) of the Act: |
|                                                             | None   |   |
|                                                             | (Title of Class) |   |

|                                |
|--------------------------------|
|                                |  |  |  |
| Large accelerated filer R | Accelerated filer £ | Non-accelerated filer £ | Smaller reporting company £ |
|                           | (Do not check if a smaller reporting company) |

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|                 |  |  |
|            | Page |
| PART I     |   |
|            |   |
| Item 1.         | Business | 3 |
| Item 1A.        | Risk Factors | 7 |
| Item 1B.        | Unresolved Staff Comments | 12 |
| Item 2.         | Properties | 12 |
| Item 3.         | Legal Proceedings | 14 |
| Item 4.         | Mine Safety Disclosures | 15 |
| Additional Item | Executive Officers of the Registrant | 16 |
|            |   |   |
| PART II    |   |
|            |   |
| Item 5.         | Market for the Registrant’s Common Equity, Related Stockholder Matters, Issuer Purchase of Equity Securities and Five Year Performance of the Company | 17 |
| Item 6.         | Selected Financial Data | 19 |
| Item 7.         | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19 |
| Item 7A.        | Quantitative and Qualitative Disclosures About Market Risk | 43 |
| Item 8.         | Financial Statements and Supplementary Data | 44 |
| Item 9.         | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 45 |
| Item 9A.        | Controls and Procedures | 45 |
| Item 9B.        | Other Information | 45 |
|            |   |
| PART III   |   |
|            |   |
| Item 10.        | Directors, Executive Officers and Corporate Governance | 45 |
| Item 11.        | Executive Compensation | 46 |
| Item 12.        | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 46 |
| Item 13.        | Certain Relationships and Related Transactions, and Director Independence | 46 |
| Item 14.        | Principal Accounting Fees and Services | 46 |
|            |   |
| PART IV    |   |
|            |   |   |
| Item 15.        | Exhibits and Financial Statement Schedules | 46 |
|            |   |   |
| SIGNATURES      | 49 |

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Note O

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Note OItem 1A

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| • | physical damage to and complete or partial closure of one or more of our manufacturing facilities; |

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| • | temporary or long-term disruption in the supply of raw materials from our suppliers; |

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| • | disruption in the transport of our products to customers and end users; and/or |

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| • | delay in the delivery of our products to our customers. |

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| • | local economic, political and social conditions, including potential hyper-inflationary conditions and political instability in certain countries; |

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| • | imposition of limitations on the remittance of dividends and payments by foreign subsidiaries; |

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| • | adverse currency exchange rate fluctuations, including significant devaluations of currencies; |

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| • | tax-related risks, including the imposition of taxes and the lack of beneficial treaties, that result in a higher effective tax rate for the Company; |

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| • | difficulties in enforcing agreements and collecting receivables through certain foreign legal systems; |

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| • | domestic and foreign customs, tariffs and quotas or other trade barriers; |

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| • | increased costs for transportation and shipping; |

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| • | difficulties in protecting intellectual property; |

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| • | increased risk of corruption, self-dealing or other unethical practices that may be difficult to detect or remedy; |

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| • | risk of nationalization of private enterprises by foreign governments; |

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| • | managing and obtaining support and distribution channels for overseas operations; |

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| • | hiring and retaining qualified management personnel for our overseas operations; |

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| • | imposition or increase of restrictions on investment; and |

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| • | required compliance with a variety of local laws and regulations which may be materially different than those to which we are subject in the United States. |

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| • | the focus of management’s attention to the assimilation of the acquired companies and their employees and on the management of expanding operations; |

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| • | the incorporation of acquired products into our product line; |

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| • | the increasing demands on our operational and information technology systems; |

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| • | potentially insufficient internal controls over financial activities or financial reporting at an acquired company that could impact us on a consolidated basis; |

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| • | the failure to realize expected synergies; |

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| • | the potential loss of customers and other material business relations as a result of changes in control; |

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| • | the possibility that we have acquired substantial contingent or unanticipated legal liabilities; and |

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|---------|-------------------------------------------------------|
| • | the loss of key employees of the acquired businesses. |

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|                |  |  |  |  |
| Location       |   | Approximate Size |   | Owned or Leased |
| Gothenburg, NE |   | 19 acre site with 100,000 sq ft of manufacturing space. |   | Owned |
| Kearney, NE    |   | 42 acre site with 516,000 sq ft of manufacturing and warehousing space, 25,000 sq ft of research and development space and 40,000 sq ft of office space. |   | Owned |
| Kearney, NE    |   | 244,696 sq ft of warehousing space. |   | Leased |
| Kearney, NE    |   | 10,250 sq ft of warehousing space. |   | Leased |
| Lancaster, PA  |   | 11.4 acre site with 160,000 sq ft of manufacturing and office space. |   | Owned |
| Lancaster, PA  |   | 20,000 sq ft of warehousing space. |   | Leased |
| Yankton, SD    |   | 20 acre site with 170,000 sq ft of manufacturing space. |   | Owned |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |
| Location                                  |   | Approximate Size |   | Owned or Leased |
| Shanghai, People's Republic of China      |   | 2,200 sq ft of office space. |   | Leased |
| Warrington, Cheshire, England             |   | 4 acre site with two facilities totaling 71,000 sq feet for manufacturing, warehousing and office space. |   | Leased |
| Runcorn, Cheshire, England                |   | 150,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Weifang, People’s Republic of China |   | 14 buildings, constituting 300,000 sq ft of manufacturing, warehousing and office space. |   | Leased |
| Weifang, People’s Republic of China |   | 105,000 sq ft of manufacturing, warehousing and office space. |   | Leased |
| Queretaro, Mexico                         |   | 3 acre site with 76,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Casablanca, Morocco                       |   | 4 acre site with 95,000 sq ft of manufacturing, warehousing and office space. |   | Owned |

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|                    |  |  |  |  |
| Location           |   | Approximate Size |   | Owned or Leased |
| Auburn Hills, MI   |   | 55,278 sq ft of warehousing and office space. |   | Leased |
| Birmingham, AL     |   | 10,000 sq ft of warehouse space. |   | Owned |
| Blue Ash, OH       |   | 17 acre site with 157,000 sq ft of manufacturing and office space. |   | Owned |
| Campbellsville, KY |   | 100 acre site with250,401 sq ft of manufacturing and office space. |   | Owned |
| Corona, CA         |   | 179,790 sq feet of manufacturing, warehousing and office space. |   | Leased |
| Dallas, TX         |   | 144,824 sq feet of manufacturing, warehousing and office space. |   | Leased |
| Greensboro, NC     |   | 21 acre site with 75,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Greensboro, NC     |   | 100,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Goodlettsville, TN |   | 35,000 sq ft of warehouse space. |   | Owned |
| Houston, TX        |   | 80,000 sq ft of manufacturing, warehousing and office space. |   | Leased |
| Houston, TX        |   | 11,000 sq ft of warehouse space. |   | Leased |
| Houston, TX        |   | 4,000 sq ft of warehousing and office space. |   | Leased |
| Jeffersonville, IN |   | 607,500 sq feet of manufacturing, warehousing and office space. |   | Leased |
| Lenexa, KS         |   | 18,000 sq feet of warehousing and office space. |   | Leased |
| Mineral Wells, TX  |   | 46 acre site with 308,947 sq feet of manufacturing, warehousing and office space. |   | Owned |
| Mineral Wells, TX  |   | 30,000 sq ft of warehousing space. |   | Owned |
| Mineral Wells, TX  |   | 35,000 sq ft of warehousing space. |   | Leased |
| Mineral Wells, TX  |   | 19,950 sq ft of warehousing space |   | Leased |
| Mineral Wells, TX  |   | 16,500 sq ft of manufacturing and warehousing space. |   | Owned |
| Ottawa, KS         |   | 41,000 sq ft of manufacturing and office space. |   | Owned |
| Pittston, PA       |   | 250,000 sq feet of manufacturing, warehousing and office space. |   | Leased |
| Stilwell, OK       |   | 11 acre site with 75,000 sq feet of manufacturing, warehousing and office space. |   | Leased |
| Sacramento, CA     |   | 36,000 sq feet of manufacturing, warehousing and office space. |   | Owned |
| Shelby, NC         |   | 48,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Tulsa, OK          |   | 16 acre site with 142,000 sq ft of manufacturing and office space. |   | Owned |
| Vineland, NJ       |   | 48,100 sq ft of manufacturing, warehousing and office space. |   | Owned/Leased |

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| Location                                       |   | Approximate Size |   | Owned or Leased |
| Calgary, Alberta, Canada                       |   | 25,000 sq feet of manufacturing, warehousing and office space. |   | Owned |
| St. Catharines, Ontario, Canada                |   | 25,000 sq ft of warehouse space. |   | Leased |
| La Coruña, Spain                     |   | 4 acre site with 64,583 sq ft of manufacturing and office space. |   | Owned |
| Pujiang City, People’s Republic of China |   | 53,819 sq ft of manufacturing, warehousing and office space. |   | Leased |
| Queretaro, Mexico                              |   | 5 acre site with 108,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Quzhou, People’s Republic of China       |   | 215,278 sq ft of manufacturing, warehousing and office space. |   | Leased |
| Henderson, Australia                           |   | 47,598 sq ft of manufacturing and office space. |   | Leased |

|               |
|---------------|
|               |  |  |  |  |
| Location      |   | Approximate Size |   | Owned or Leased |
| Rockford, IL  |   | 34 acre site with buildings totaling 405,000 sq ft of manufacturing, warehousing and office space. |   | Owned |
| Lancaster, PA |   | 11 acre site with 243,500 sq ft of manufacturing and office space. |   | Owned |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  |  |  |  |
| Name                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Age at 11/30/2013 |   | Year Electedto Office |
| Christopher L. Conway                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | 58 |   | 2010 |
| Chairman of the Board, President and Chief Executive Officer. Mr. Conway has been employed by the Company or its affiliates since 2006, when he was named Vice President of Manufacturing of Baldwin Filters, Inc.  In September 2007, Mr. Conway was promoted to the position of President of Facet USA, Inc., another affiliate of the Company.  He was then named President of the Company’s PECOFacet division in December 2007 and continued in that role until being named as President and Chief Operating Officer of the Company in May 2010.  On December 13, 2011, Mr. Conway assumed the position of President and Chief Executive Officer.  Prior to joining the Company or its affiliates, Mr. Conway served for two years as the Chief Operating Officer of Cortron Corporation, Inc., a small manufacturing start-up based in Minneapolis, Minnesota. |   |   |   |   |
| Sam Ferrise                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 57 |   | 2003 |
| President, Baldwin Filters, Inc. Mr. Ferrise was appointed President of Baldwin Filters, Inc. in 2000. He became an executive officer of the Company in 2003 while retaining the same title with Baldwin Filters, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   |   |   |
| David J. Fallon                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | 43 |   | 2010 |
| Vice President – Finance & Chief Financial Officer. Mr. Fallon has been  employed by the Company since 2009, when he was elected Vice President-Finance.  He was elected Chief Financial Officer in 2010.    Prior to joining the Company, Mr. Fallon held various positions for Noble International, Ltd. and its affiliates, including the position of Chief Financial Officer of Noble International, Ltd. immediately prior to his employment with the Company.                                                                                                                                                                                                                                                                                                                                                                                    |   |   |   |   |
| David J. Lindsay                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 58 |   | 1995 |
| Vice President-Administration and Chief Administrative Officer. Mr. Lindsay has been employed by the Company in various administrative positions since 1987. He was elected Vice President-Group Services in 1991, Vice President-Administration in 1994 and Vice President-Administration and Chief Administrative Officer in 1995.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   |   |   |
| Richard M. Wolfson                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 47 |   | 2006 |
| Vice President-General Counsel and Secretary. Mr. Wolfson was employed by the Company and elected Vice President, General Counsel and Secretary in 2006. Prior to joining the Company, he was a principal of the InterAmerican Group, an advisory services and private equity firm, from 2001 until 2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |   |   |   |

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|                        |  |  |  |  |  |  |  |  |  |  |  |  |
|                   |   | Market Price |   |   |
| Quarter Ended     |   | High |   | Low |   | Dividends |
| March 2, 2013     |   | $ | 52.63 |  |   | $ | 45.02 |  |   | $ | 0.1350 |  |
| June 1, 2013      |   | $ | 55.84 |  |   | $ | 47.99 |  |   | $ | 0.1350 |  |
| August 31, 2013   |   | $ | 57.31 |  |   | $ | 50.92 |  |   | $ | 0.1350 |  |
| November 30, 2013 |   | $ | 61.34 |  |   | $ | 52.29 |  |   | $ | 0.1700 |  |
| Total Dividends        |   |   |  |   |   |  |   | $ | 0.5750 |  |

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|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |
|                   |   | Market Price |   |   |
| Quarter Ended     |   | High |   | Low |   | Dividends |
| March 3, 2012     |   | $ | 54.22 |  |   | $ | 47.41 |  |   | $ | 0.1200 |  |
| June 2, 2012      |   | $ | 52.16 |  |   | $ | 45.95 |  |   | $ | 0.1200 |  |
| September 1, 2012 |   | $ | 51.41 |  |   | $ | 45.12 |  |   | $ | 0.1200 |  |
| December 1, 2012  |   | $ | 50.26 |  |   | $ | 42.75 |  |   | $ | 0.1350 |  |
| Total Dividends        |   |   |  |   |   |  |   | $ | 0.4950 |  |

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|                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| COMPANY PURCHASES OF EQUITY SECURITIES |
|                                                       |   | (a) |   | (b) |   | (c) |   | (d) |
| Period                                                     |   | TotalNumber ofsharespurchased |   | Averageprice paidper share |   | Total number of shares purchased as part ofthe Company's publiclyannounced plan |   | Maximum approximatedollar value of shares thatmay yet be purchasedunder the Plan |
| September 1, 2013 through October 5, 2013                  |   | 48,000 |  |   | $ | 55.52 |  |   | 48,000 |  |   | $ | 242,175,911 |  |
| October 6, 2013 through November 2, 2013                   |   | 16,000 |  |   | $ | 55.90 |  |   | 16,000 |  |   | $ | 241,281,522 |  |
| November 3, 2013 through November 30, 2013                 |   | — |  |   | $ | — |  |   | — |  |   | $ | 241,281,522 |  |
| Total                                                      |   | 64,000 |  |   |   |  |   | 64,000 |  |   |   |  |

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|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | 2013 |   | 2012 |   | 2011 |   | 2013 vs 2012 |   |
|                                                      | (52 weeks) |   | (52 weeks) |   | (53 weeks) |   | $ Change |   | % Change |   |
| Net sales                                                 | $ | 1,130,770 |  |   | $ | 1,121,765 |  |   | $ | 1,126,601 |  |   | $ | 9,005 |  |   | 1% |   |
| Cost of sales                                             | 760,561 |  |   | 741,433 |  |   | 743,180 |  |   | 19,128 |  |   | 3% |   |
| Gross profit                                              | 370,209 |  |   | 380,332 |  |   | 383,421 |  |   | (10,123 | ) |   | (3)% |   |
| Selling and administrative expenses                       | 195,593 |  |   | 197,618 |  |   | 202,154 |  |   | (2,025 | ) |   | (1)% |   |
| Operating profit                                          | 174,616 |  |   | 182,714 |  |   | 181,267 |  |   | (8,098 | ) |   | (4)% |   |
| Other income (expense)                                    | (316 | ) |   | 283 |  |   | 41 |  |   | (599 | ) |   |  |   |
| Provision for income taxes                                | 55,950 |  |   | 59,657 |  |   | 56,947 |  |   | (3,707 | ) |   | (6)% |   |
|   Net earnings attributable to CLARCOR          | $ | 118,076 |  |   | $ | 122,986 |  |   | $ | 124,003 |  |   | $ | (4,910 | ) |   | (4)% |   |
| Weighted average diluted shares                           | 50,539 |  |   | 50,882 |  |   | 51,191 |  |   | (343 | ) |   | (1)% |   |
| Diluted earnings per common share attributable to CLARCOR | $ | 2.34 |  |   | $ | 2.42 |  |   | $ | 2.42 |  |   | $ | (0.08 | ) |   | (3)% |   |
| Percentages:                                              |   |  |   |   |  |   |   |  |   |   |  |   |   |   |
| Gross margin                                              | 32.7 | % |   | 33.9 | % |   | 34.0 | % |   |   |  |   | (1.2) | pt |
| Selling and administrative percentage                     | 17.3 | % |   | 17.6 | % |   | 17.9 | % |   |   |  |   | (0.3) | pt |
| Operating margin                                          | 15.4 | % |   | 16.3 | % |   | 16.1 | % |   |   |  |   | (0.9) | pt |
| Effective tax rate                                        | 32.1 | % |   | 32.6 | % |   | 31.4 | % |   |   |  |   | (0.5) | pt |
| Net earnings margin                                       | 10.4 | % |   | 11.0 | % |   | 11.0 | % |   |   |  |   | (0.6) | pt |

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|                                     |
|-------------------------------------|
|                                     |  |  |  |
| (Dollars in millions)               | Net Sales |
| Filtration segments combined volume | $ | 9.9 |  |
| Pricing                             | 2.3 |  |
| Acquisitions                        | 2.2 |  |
| Packaging segment volume            | (3.8 | ) |
| Foreign exchange                    | (1.6 | ) |
| Increase in consolidated net sales  | $ | 9.0 |  |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net sales volume in our Industrial/Environmental and Engine/Mobile Filtration segments increased $9.9 million, or 1%, on a combined basis in 2013 compared to 2012, excluding the effects of changes in foreign currency exchange rates, changes in pricing, and acquisitions.  This 1% increase was primarily driven by an increase in sales of filter systems, housings and aftermarket elements for oil and natural gas applications, increased sales of aviation vessels and aftermarket filters due to increased commercial aerospace demand, and increased sales of heavy-duty engine filters to the U.S. aftermarket. |

|         |                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Changes in product pricing favorably impacted net sales by approximately $2.3 million, primarily due to selling price increases implemented on certain of our air filtration products and packaging products in 2013. |

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|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net sales increased approximately $2.2 million in 2013 compared to 2012 due to business acquisitions, reflecting our acquisition of Modular Engineering Pty Ltd in the second quarter of 2012. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net sales volume in our Packaging segment declined approximately $3.8 million, or 4%, in 2013 compared to 2012, excluding the effect of changes in pricing.  This 4% decrease was primarily driven by lower sales of metal lithography film cannisters due to lower film industry demand for analog-based products, lower sales of confection packaging products due to the loss of a significant customer, and lower sales of decorated flat sheet metal packaging products. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Changes in the average exchange rates for foreign currencies versus the U.S. dollar unfavorably impacted our translated U.S. dollar value of net sales by $1.6 million in 2013 compared to 2012, primarily due to the strengthening of the U.S. dollar compared to the South African Rand, Brazilian Real, Australian Dollar and Canadian Dollar in 2013, partly offset by the weakening of the U.S. dollar compared to the Euro and Mexican Peso in 2013. |

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|                                     |
|-------------------------------------|
|                                     |  |  |  |
| (Dollars in millions)               | Net sales |
| Additional week in 2011             | $ | (22.0 | ) |
| Packaging segment volume            | (15.7 | ) |
| Foreign exchange                    | (11.9 | ) |
| Filtration segments combined volume | 22.7 |  |
| Pricing                             | 12.7 |  |
| Acquisitions                        | 9.4 |  |
| Decrease in consolidated net sales  | $ | (4.8 | ) |

|         |                                                                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The effect of our fiscal year 2012 having one less week than our fiscal year 2011 unfavorably impacted net sales by approximately $22.0 million, or 2%. |

|         |                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Excluding the impact of the additional week in 2011 and changes in pricing, net sales at our Packaging segment were approximately $15.7 million, or 17%, lower in 2012 than in 2011, primarily driven by lower sales of smokeless tobacco and confection packaging products and lower sales of decorated flat sheet metal products. |

|         |                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Changes in the average exchange rates for foreign currencies versus the U.S. dollar unfavorably impacted our translated U.S. dollar value of net sales by approximately $11.9 million, or 1%, in 2012 compared to 2011, primarily due to strengthening of the U.S. dollar compared to the Euro during 2012. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net sales volume in our Engine/Mobile and Industrial/Environmental Filtration segments increased approximately $22.7 million, or 2%, on a combined basis in 2012 compared to 2011, excluding the effects of the additional week in 2011, changes in foreign currency exchange rates, changes in pricing and acquisitions.  This 2% increase was primarily driven by an increase in natural gas vessel and aftermarket sales in the U.S. and internationally, increased domestic sales of commercial and industrial filters through our Total Filtration Services distribution business, and increased sales of dust collection cartridges and systems. |

|         |                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Net sales increased approximately $9.4 million, or 1%, in 2012 compared to 2011 due to business acquisitions, reflecting our acquisitions of Modular Engineering Pty Ltd in the second quarter of 2012 and PDDA Filtration, Inc. in the first quarter of 2012. |

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Table of Contents

|         |                         |
|---------|-------------------------|
| • | Additional week in 2011 |

|         |                          |
|---------|--------------------------|
| • | Significant acquisitions |

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |
| (Dollars in thousands)  | 2013 |   | 2012 |
| Net sales               | $ | 7,035 |  |   | $ | 5,258 |  |
| Operating (loss) profit | (1,514 | ) |   | 149 |  |

----

Table of Contents

|         |                  |
|---------|------------------|
| • | Foreign exchange |

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |
| (Dollars in thousands) | 2013 |   | 2012 |
| Net sales              | $ | (1,585 | ) |   | $ | (11,918 | ) |
| Operating profit       | (828 | ) |   | (2,004 | ) |

|         |                        |
|---------|------------------------|
| • | Other income (expense) |

|         |                            |
|---------|----------------------------|
| • | Provision for income taxes |

|         |                    |
|---------|--------------------|
| • | Shares outstanding |

----

Table of Contents

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                | 2013 |   | 2012 |   | 2011 |
| (Dollars in thousands)    | (52 weeks) |   | % Total |   | (52 weeks) |   | % Total |   | (53 weeks) |   | % Total |
| Net sales:                          |   |   |   |   |   |   |   |   |   |   |   |
| Engine/Mobile Filtration            | $ | 507,024 |  |   | 45 | % |   | $ | 503,607 |  |   | 45 | % |   | $ | 510,012 |  |   | 45 | % |
| Industrial/Environmental Filtration | 549,746 |  |   | 49 | % |   | 541,364 |  |   | 48 | % |   | 523,026 |  |   | 46 | % |
| Packaging                           | 74,000 |  |   | 6 | % |   | 76,794 |  |   | 7 | % |   | 93,563 |  |   | 9 | % |
|                                | $ | 1,130,770 |  |   | 100 | % |   | $ | 1,121,765 |  |   | 100 | % |   | $ | 1,126,601 |  |   | 100 | % |
| Gross profit:                       |   |   |   |   |   |   |   |   |   |   |   |
| Engine/Mobile Filtration            | $ | 177,815 |  |   | 48 | % |   | $ | 185,419 |  |   | 49 | % |   | $ | 189,511 |  |   | 49 | % |
| Industrial/Environmental Filtration | 178,388 |  |   | 48 | % |   | 180,402 |  |   | 47 | % |   | 173,731 |  |   | 45 | % |
| Packaging                           | 14,006 |  |   | 4 | % |   | 14,511 |  |   | 4 | % |   | 20,179 |  |   | 6 | % |
|                                | $ | 370,209 |  |   | 100 | % |   | $ | 380,332 |  |   | 100 | % |   | $ | 383,421 |  |   | 100 | % |
| Operating profit:                   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |
| Engine/Mobile Filtration            | $ | 106,345 |  |   | 61 | % |   | $ | 111,653 |  |   | 61 | % |   | $ | 112,839 |  |   | 62 | % |
| Industrial/Environmental Filtration | 61,996 |  |   | 36 | % |   | 64,766 |  |   | 35 | % |   | 58,028 |  |   | 32 | % |
| Packaging                           | 6,275 |  |   | 3 | % |   | 6,295 |  |   | 4 | % |   | 10,400 |  |   | 6 | % |
|                                | $ | 174,616 |  |   | 100 | % |   | $ | 182,714 |  |   | 100 | % |   | $ | 181,267 |  |   | 100 | % |
| Gross margin:                       |   |   |   |   |   |   |   |   |   |   |   |
| Engine/Mobile Filtration            | 35.1 | % |   |   |   | 36.8 | % |   |   |   | 37.2 | % |   |   |
| Industrial/Environmental Filtration | 32.4 | % |   |   |   | 33.3 | % |   |   |   | 33.2 | % |   |   |
| Packaging                           | 18.9 | % |   |   |   | 18.9 | % |   |   |   | 21.6 | % |   |   |
|                                | 32.7 | % |   |   |   | 33.9 | % |   |   |   | 34.0 | % |   |   |
| Operating margin:                   |   |  |   |   |  |   |   |   |   |  |   |   |   |   |  |
| Engine/Mobile Filtration            | 21.0 | % |   |   |  |   | 22.2 | % |   |   |  |   | 22.1 | % |   |   |  |
| Industrial/Environmental Filtration | 11.3 | % |   |   |  |   | 12.0 | % |   |   |  |   | 11.1 | % |   |   |  |
| Packaging                           | 8.5 | % |   |   |  |   | 8.2 | % |   |   |  |   | 11.1 | % |   |   |  |
|                                | 15.4 | % |   |   |  |   | 16.3 | % |   |   |  |   | 16.1 | % |   |   |  |

----

Table of Contents

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (Dollars in thousands)      | 2013 |   | 2012 |   | 2011 |   | 2013 v 2012 |   |   | 2012 v 2011 |   |
|                                  |  (52 weeks) |   | (52 weeks) |   | (53 weeks) |   | $Change |   | %Change |   |   | $Change |   | %Change |   |
| Net sales                             | $ | 507,024 |  |   | $ | 503,607 |  |   | $ | 510,012 |  |   | $ | 3,417 |  |   | 1 |  % |   |   | $ | (6,405 | ) |   | (1 | )% |   |
| Cost of sales                         | 329,209 |   | 318,188 |  |   | 320,501 |  |   | 11,021 |  |   | 3 |  % |   |   | (2,313 | ) |   | (1 | )% |   |
| Gross profit                          | 177,815 |  |   | 185,419 |  |   | 189,511 |  |   | (7,604 | ) |   | (4 | )% |   |   | (4,092 | ) |   | (2 | )% |   |
| Selling and administrative expenses   | 71,470 |   | 73,766 |  |   | 76,672 |  |   | (2,296 | ) |   | (3 | )% |   |   | (2,906 | ) |   | (4 | )% |   |
| Operating profit                      | $ | 106,345 |  |   | $ | 111,653 |  |   | $ | 112,839 |  |   | $ | (5,308 | ) |   | (5 | )% |   |   | $ | (1,186 | ) |   | (1 | )% |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross margin                          | 35.1 | % |   | 36.8 | % |   | 37.2 | % |   |   |   | (1.7 | ) | pt |   |   |   | (0.4 | ) | pt |
| Selling and administrative percentage | 14.1 | % |   | 14.6 | % |   | 15.0 | % |   |   |   | (0.5 | ) | pt |   |   |   | (0.4 | ) | pt |
| Operating margin                      | 21.0 | % |   | 22.2 | % |   | 22.1 | % |   |   |  |   | (1.2 | ) | pt |   |   |  |   | 0.1 |  | pt |

|                  |
|------------------|
|                  |  |  |
| Volume           | 1 | % |
| Pricing          | — | % |
| Foreign exchange | — | % |
|             | 1 | % |

|                                      |
|--------------------------------------|
|                                      |  |  |  |
| (Dollars in millions)      | Net Sales |
| 2012                                 | $ | 503.6 |  |
|                                 |   |  |
| U.S. net sales                       | 7.2 |  |
| Foreign net sales (including export) | (2.5 | ) |
| Foreign exchange                     | (1.3 | ) |
| Net increase                         | 3.4 |  |
|                                 |   |  |
| 2013                                 | $ | 507.0 |  |

----

Table of Contents

|                                 |
|---------------------------------|
|                                 |  |  |  |
| (Dollars in millions) | Net Sales |
| Heavy-duty engine filters       | $ | 4.0 |  |
| Locomotive filters              | 2.1 |  |
| Other                           | 1.1 |  |
| Increase in U.S. net sales      | $ | 7.2 |  |

|                                          |
|------------------------------------------|
|                                          |  |  |  |
| (Dollars in millions)          | Net Sales |
| Heavy-duty engine filter sales in Europe | $ | (4.0 | ) |
| Heavy-duty engine filter sales in China  | 3.0 |  |
| Other                                    | (1.5 | ) |
| Decrease in foreign net sales            | $ | (2.5 | ) |

----

Table of Contents

|                         |
|-------------------------|
|                         |  |  |
| Additional week in 2011 | (2 | )% |
| Volume                  | 1 |  % |
| Pricing                 | 1 |  % |
| Foreign exchange        | (1 | )% |
|                    | (1 | )% |

|                                      |
|--------------------------------------|
|                                      |  |  |  |
| (Dollars in millions)      | Net Sales |
| 2011                                 | $ | 510.0 |  |
|                                 |   |
| U.S. net sales                       | 1.1 |  |
| Foreign net sales (including export) | (2.8 | ) |
| Foreign exchange                     | (4.7 | ) |
| Net decrease                         | (6.4 | ) |
|                                 |   |
| 2012                                 | $ | 503.6 |  |

|                                               |
|-----------------------------------------------|
|                                               |  |  |  |
| (Dollars in millions)               | Net Sales |
| Heavy-duty engine filters to U.S. aftermarket | $ | 4.3 |  |
| Dust collection cartridges                    | 1.5 |  |
| Locomotive filters                            | 0.6 |  |
| Additional week in 2011                       | (6.0 | ) |
| Other                                         | 0.7 |  |
| Increase in U.S. net sales                    | $ | 1.1 |  |

|                                          |
|------------------------------------------|
|                                          |  |  |  |
| (Dollars in millions)          | Net Sales |
| Heavy-duty engine filter sales in China  | $ | (4.6 | ) |
| Additional week in 2011                  | (3.9 | ) |
| Heavy-duty engine filter sales in Europe | 0.6 |  |
| Other                                    | 5.1 |  |
| Decrease in Foreign net sales            | $ | (2.8 | ) |

----

Table of Contents

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (Dollars in thousands)      | 2013 |   | 2012 |   | 2011 |   | 2013 v 2012 |   |   | 2012 v 2011 |   |
|                                  | (52 weeks) |   | (52 weeks) |   | (53 weeks) |   | $Change |   | %Change |   |   | $    Change |   | %Change |   |
| Net sales                             | $ | 549,746 |  |   | $ | 541,364 |  |   | $ | 523,026 |  |   | $ | 8,382 |  |   | 2 |  % |   |   | $ | 18,338 |  |   | 4 |  % |   |
| Cost of sales                         | 371,358 |  |   | 360,962 |  |   | 349,295 |  |   | 10,396 |  |   | 3 |  % |   |   | 11,667 |  |   | 3 |  % |   |
| Gross profit                          | 178,388 |  |   | 180,402 |  |   | 173,731 |  |   | (2,014 | ) |   | (1 | )% |   |   | 6,671 |  |   | 4 |  % |   |
| Selling and administrative expenses   | 116,392 |  |   | 115,636 |  |   | 115,703 |  |   | 756 |  |   | 1 |  % |   |   | (67 | ) |   | — |  % |   |
| Operating profit                      | $ | 61,996 |  |   | $ | 64,766 |  |   | $ | 58,028 |  |   | $ | (2,770 | ) |   | (4 | )% |   |   | $ | 6,738 |  |   | 12 |  % |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross margin                          | 32.4 | % |   | 33.3 | % |   | 33.2 | % |   |   |   | (0.9 | ) | pt |   |   |   | 0.1 |  | pt |
| Selling and administrative percentage | 21.2 | % |   | 21.4 | % |   | 22.1 | % |   |   |   | (0.2 | ) | pt |   |   |   | (0.7 | ) | pt |
| Operating margin                      | 11.3 | % |   | 12.0 | % |   | 11.1 | % |   |   |  |   | (0.7 | ) | pt |   |   |  |   | 0.9 |  | pt |

----

Table of Contents

|                  |
|------------------|
|                  |  |  |
| Volume           | 1 | % |
| Pricing          | — | % |
| Acquisitions     | 1 | % |
| Foreign exchange | — | % |
|             | 2 | % |

|                                      |
|--------------------------------------|
|                                      |  |  |  |
| (Dollars in millions)      | Net Sales |
| 2012                                 | $ | 541.3 |  |
|                                 |   |
| Foreign net sales (including export) | 14.0 |  |
| U.S. net sales                       | (5.3 | ) |
| Foreign exchange                     | (0.3 | ) |
| Net increase                         | 8.4 |  |
|                                 |   |
| 2013                                 | $ | 549.7 |  |

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |
| (Dollars in millions)                                          | Net Sales |
| Latin America - natural gas vessels and aftermarket filters    | $ | 14.5 |  |
| Australia - acquisition of Modular Engineering Pty Ltd.        | 2.2 |  |
| Europe - dust collector systems                                | (1.9 | ) |
| Europe, Middle East & Africa - aviation and marine filters | (0.5 | ) |
| All other, net                                                 | (0.3 | ) |
| Increase in foreign net sales                                  | $ | 14.0 |  |

|         |                                                                                                                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Sales of natural gas vessels and aftermarket filters in Latin America, primarily Brazil, increased by $14.5 million, or over 250%, in 2013 compared to 2012 due to filtration system sales for several large onshore and off-shore oil and gas installations and strong growth in aftermarket filtration sales by our PECOFacet subsidiary. |

|         |                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The increase in sales in Australia in 2013 was driven by our acquisition of Modular Engineering Pty Ltd. in the second quarter of fiscal 2012. |

|         |                                                                                                                                                                                                                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Lower dust collection system sales in 2013 compared to 2012 were primarily the result of lower sales of Dust Hog® weld fume collection systems and Smog Hog® industrial mist collection systems by our United Air Specialists subsidiary, which we believe resulted from lower general industrial activity in Europe due to weak macroeconomic conditions. |

----

Table of Contents

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |
| (Dollars in millions)                                  | Net Sales |
| Air filters                                            | $ | (7.4 | ) |
| Oil drilling and other industrial filters              | (4.0 | ) |
| Filtration media sales through TransWeb                | (3.0 | ) |
| Dust collector systems                                 | (1.5 | ) |
| Natural gas vessels and aftermarket filters            | 3.9 |  |
| Aviation vessels and aftermarket filters               | 3.6 |  |
| Aerospace filters                                      | 2.0 |  |
| Filter sales through Total Filtration Services ("TFS") | 1.8 |  |
| All other, net                                         | (0.7 | ) |
| Decrease in U.S. net sales                             | $ | (5.3 | ) |

|         |                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Lower sales of air filtration products in 2013 compared to 2012 was due to lower sales of heating, ventilation and air conditioning filters to various commercial and industrial customers and lower swine filtration sales to agricultural customers. |

|         |                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The decrease in sales to the oil drilling and other industrial filter markets in 2013 was primarily due to lower sales of sand control screen filters to the oil and gas drilling industry and lower sales of sintered metal filtration products for industrial fluid processing and power applications. |

|         |                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Lower sales of filtration media at TransWeb was primarily the result of lost business from a significant customer, which we believe selected an alternate primary source of supply. |

|         |                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Lower dust collection system sales in 2013 were the result of lower sales of Smog Hog® oil mist collector products and Dust Hog®  industrial dust and fume collector products by our United Air Specialists subsidiary. |

|         |                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Higher sales to the natural gas market in 2013 were driven by an increase in natural gas vessel and replacement filter element sales arising from increased natural gas extraction and transportation activity throughout the U.S., including at various shale gas basins. |

|         |                                                                                                                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Higher sales in the aviation market in 2013 compared to 2012 resulted from increased sales of commercial and military aviation filtration products, including filter separators, coalescers and replacement cartridges used at various filtration points related to the storage, transportation and dispensing of aviation fuel. |

|         |                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The increase in aerospace filtration sales in 2013 was driven by higher sales of hydraulic, air, waste tank and other aerospace filters to commercial and military customers. |

|         |                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Higher sales at our TFS distribution subsidiary in 2013 compared to 2012 were primarily the result of higher liquid and air filter sales to a variety of customers, including those in the automotive, heavy equipment and food & beverage industries. |

----

Table of Contents

|                         |
|-------------------------|
|                         |  |  |
| Volume                  | 3 |  % |
| Pricing                 | 2 |  % |
| Acquisitions            | 2 |  % |
| Additional week in 2011 | (2 | )% |
| Foreign exchange        | (1 | )% |
|                    | 4 |  % |

|                                      |
|--------------------------------------|
|                                      |  |  |  |
| (Dollars in millions)      | Net Sales |
| 2011                                 | $ | 523.0 |  |
|                                 |   |
| Foreign net sales (including export) | 15.8 |  |
| U.S. net sales                       | 9.7 |  |
| Foreign exchange                     | (7.2 | ) |
| Net increase                         | 18.3 |  |
|                                 |   |
| 2012                                 | $ | 541.3 |  |

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |
| (Dollars in millions)                                  | Net Sales |
| Filter sales through Total Filtration Services ("TFS") | $ | 11.7 |  |
| Natural gas - vessels and aftermarket filters          | 7.1 |  |
| Aerospace, oil drilling and other industrial filters   | 4.1 |  |
| Dust collection systems                                | 2.9 |  |
| Aviation - vessels and aftermarket filters             | (3.7 | ) |
| Filtration media sales through TransWeb                | (4.3 | ) |
| Additional week in 2011                                | (7.6 | ) |
| All other, net                                         | (0.5 | ) |
| Increase in U.S. net sales                             | $ | 9.7 |  |

|         |                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The increase in sales at TFS in 2012 was driven primarily by higher sales of liquid filters (including approximately $3.3 million in sales arising from the acquisition of PDDA Filtration, Inc.) to a variety of markets including general industrial, automotive, food & beverage and chemical. |

----

Table of Contents

|         |                                                                                                                                                                                                                                             |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Higher sales to the natural gas market in 2012 were driven by an increase in natural gas vessel sales arising from increased natural gas extraction and transportation activity throughout the U.S., including at various shale gas basins. |

|         |                                                                                                                                                                                                                                                                                 |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The increase in sales to the aerospace, oil drilling and other industrial filter markets in 2012 was primarily due to higher sales of sand control screen filters to the oil and gas drilling industry and sintered mesh cartridge filters to the chemical processing industry. |

|         |                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Higher dust collection system sales in 2012 were the result of higher sales of Smog Hog® oil mist collector products and Dust Hog®  industrial dust and fume collector products by our United Air Specialists subsidiary. |

|         |                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The decline in sales of aviation vessels and aftermarket filters in 2012 was driven by declines in commercial and military aviation industry activity. |

|         |                                                                                                                                                                                    |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Lower sales of filtration media at TransWeb was primarily the result of lower order volume from a significant customer due to slower industry demand in the end-markets it serves. |

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |
| (Dollars in millions)                                   | Net Sales |
| Malaysia - natural gas vessels and aftermarket filters  | $ | 10.4 |  |
| Australia - acquisition of Modular Engineering Pty Ltd. | 5.4 |  |
| Europe - liquid filters for petrochemical applications  | 3.8 |  |
| Europe - commercial and military marine                 | (1.5 | ) |
| Additional week in 2011                                 | (2.7 | ) |
| All other, net                                          | 0.4 |  |
| Increase in foreign net sales                           | $ | 15.8 |  |

|         |                                                                                                                                                                      |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The increase in sales in Malaysia in 2012 was due primarily to higher natural gas vessel and aftermarket sales, driven by strength in the global natural gas market. |

|         |                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------|
| • | The increase in sales in Australia in 2012 was driven by our acquisition of Modular Engineering Pty Ltd. in the second quarter of fiscal 2012. |

|         |                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Higher European sales in 2012 compared to 2011 were driven by increased sales of liquid filters for petrochemical applications, partly offset by lower commercial and military marine filter sales. |

----

Table of Contents

|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (Dollars in thousands)      | 2013 |   | 2012 |   | 2011 |   | 2013 v 2012 |   |   | 2012 v 2011 |   |
|                                  | (52 weeks) |   | (52 weeks) |   | (53 weeks) |   | $Change |   | %Change |   |   | $Change |   | %Change |   |
| Net sales                             | $ | 74,000 |  |   | $ | 76,794 |  |   | $ | 93,563 |  |   | $ | (2,794 | ) |   | (4 | )% |   |   | $ | (16,769 | ) |   | (18 | )% |   |
| Cost of sales                         | 59,994 |  |   | 62,283 |  |   | 73,384 |  |   | (2,289 | ) |   | (4 | )% |   |   | (11,101 | ) |   | (15 | )% |   |
| Gross profit                          | 14,006 |  |   | 14,511 |  |   | 20,179 |  |   | (505 | ) |   | (3 | )% |   |   | (5,668 | ) |   | (28 | )% |   |
| Selling and administrative expenses   | 7,731 |  |   | 8,216 |  |   | 9,779 |  |   | (485 | ) |   | (6 | )% |   |   | (1,563 | ) |   | (16 | )% |   |
| Operating profit                      | $ | 6,275 |  |   | $ | 6,295 |  |   | $ | 10,400 |  |   | $ | (20 | ) |   | — |  % |   |   | $ | (4,105 | ) |   | (39 | )% |   |
|                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gross margin                          | 18.9 | % |   | 18.9 | % |   | 21.6 | % |   |   |   | — |  | pt |   |   |   | (2.7 | ) | pt |
| Selling and administrative percentage | 10.4 | % |   | 10.7 | % |   | 10.5 | % |   |   |   | (0.3 | ) | pt |   |   |   | 0.2 |  | pt |
| Operating margin                      | 8.5 | % |   | 8.2 | % |   | 11.1 | % |   |   |  |   | 0.3 |  | pt |   |   |  |   | (2.9 | ) | pt |

|         |
|---------|
|         |  |  |
| Volume  | (5 | )% |
| Pricing | 1 |  % |
|    | (4 | )% |

|                                     |
|-------------------------------------|
|                                     |  |  |  |
| (Dollars in millions)               | Net Sales |
| Film packaging                      | $ | (2.0 | ) |
| Confection packaging                | (1.9 | ) |
| Decorated flat sheet metal products | (1.4 | ) |
| Spice packaging                     | 2.7 |  |
| All other, net                      | (0.2 | ) |
| Decrease in net sales               | $ | (2.8 | ) |

----

Table of Contents

|                         |
|-------------------------|
|                         |  |  |
| Volume                  | (17 | )% |
| Additional week in 2011 | (2 | )% |
| Pricing                 | 1 |  % |
|                    | (18 | )% |

----

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----

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|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                 | Payments Due by Period as of November 30, 2013 |
| (Dollars in millions)                      | Total |   | Less than 1Year |   | 1 - 3Years |   | 3 - 5Years |   | More than 5Years |
| Pension plan and other post-retirement contributions | $ | 18.9 |  |   | $ | 0.7 |  |   | $ | 0.4 |  |   | $ | 9.4 |  |   | $ | 8.4 |  |
| Operating leases                                     | 43.8 |  |   | 17.0 |  |   | 14.5 |  |   | 5.2 |  |   | 7.1 |  |
| Open purchase orders                                 | 76.7 |  |   | 73.4 |  |   | 2.9 |  |   | 0.4 |  |   | — |  |
| Long-term debt                                       | 166.6 |  |   | 50.2 |  |   | 8.9 |  |   | 100.1 |  |   | 7.4 |  |
| Interest on long-term debt                           | 6.4 |  |   | 1.3 |  |   | 4.0 |  |   | 0.7 |  |   | 0.4 |  |
| Acquisition commitments                              | 266.1 |  |   | 266.1 |  |   | — |  |   | — |  |   | — |  |
| Total                                                | $ | 578.5 |  |   | $ | 408.7 |  |   | $ | 30.7 |  |   | $ | 115.8 |  |   | $ | 23.3 |  |

Note Q

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Note H

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | 2013 |   | 2012 |   | 2011 |   | 2012 vs 2011 |   |
| (Dollars in thousands)                          | (52 weeks) |   | (52 weeks) |   | (52 weeks) |   | $ Change |   | % Change |   |
| Net sales                                                 | $ | 1,130,770 |  |   | $ | 1,121,765 |  |   | $ | 1,104,635 |  |   | $ | 17,130 |  |   | 2% |   |
| Operating profit                                          | 174,616 |  |   | 182,714 |  |   | 177,357 |  |   | 5,357 |  |   | 3% |   |
| Net earnings attributable to CLARCOR                      | 118,076 |  |   | 122,986 |  |   | 121,342 |  |   | 1,644 |  |   | 1% |   |
| Diluted earnings per common share attributable to CLARCOR | $ | 2.34 |  |   | $ | 2.42 |  |   | $ | 2.37 |  |   | $ | 0.05 |  |   | 2% |   |
| Percentages:                                              |   |  |   |   |  |   |   |  |   |   |  |   |   |   |
| Operating margin                                          | 15.4 | % |   | 16.3 | % |   | 16.1 | % |   |   |  |   | 0.2 | pt |
| Net earnings margin                                       | 10.4 | % |   | 11.0 | % |   | 11.0 | % |   |   |  |   | — | pt |

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|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |  |  |  |  |
| (Dollars in thousands)                         |   | 2012 |   | 2011 |   | % Change |
| CONSOLIDATED                                   |   |   |   |   |   |   |
| Net sales, as reported (GAAP)                  |   | $ | 1,121,765 |  |   | $ | 1,126,601 |  |   | — |  % |
| Impact of extra week in fiscal year 2011       |   | — |  |   | (21,966 | ) |   |   |
| Non-GAAP net sales                             |   | $ | 1,121,765 |  |   | $ | 1,104,635 |  |   | 2 |  % |
|                                           |   |   |   |   |   |   |
| Operating profit, as reported (GAAP)           |   | $ | 182,714 |  |   | $ | 181,267 |  |   | 1 |  % |
| Impact of extra week in fiscal year 2011       |   | — |  |   | $ | (3,910 | ) |   |   |
| Non-GAAP operating profit                      |   | $ | 182,714 |  |   | $ | 177,357 |  |   | 3 |  % |
|                                           |   |   |   |   |   |   |
| Net earnings - CLARCOR, as reported (GAAP)     |   | $ | 122,986 |  |   | $ | 124,003 |  |   | (1 | )% |
| Impact of extra week in fiscal year 2011       |   | — |  |   | (2,660 | ) |   |   |
| Non-GAAP net earnings - CLARCOR                |   | $ | 122,986 |  |   | $ | 121,342 |  |   | 1 |  % |
|                                           |   |   |   |   |   |   |
| Diluted earnings per share, as reported (GAAP) |   | $ | 2.42 |  |   | $ | 2.42 |  |   | — |  % |
| Impact of extra week in fiscal year 2011       |   | — |  |   | (0.05 | ) |   |   |
| Non-GAAP diluted earnings per share - CLARCOR  |   | $ | 2.42 |  |   | $ | 2.37 |  |   | 2 |  % |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |
| (Dollars in thousands)                      |   | 2012 |   | 2011 |   | % Change |
| SEGMENT DATA                                |   |   |   |   |   |   |
| Engine/Mobile Filtration Segment            |   |   |   |   |   |   |
| Net sales, as reported (GAAP)               |   | $ | 503,607 |  |   | $ | 510,012 |  |   | (1 | )% |
| Impact of extra week in fiscal 2011         |   | — |  |   | (9,853 | ) |   |   |
| Non-GAAP net sales                          |   | $ | 503,607 |  |   | $ | 500,159 |  |   | 1 |  % |
|                                        |   |   |   |   |   |   |
| Operating profit, as reported (GAAP)        |   | $ | 111,653 |  |   | $ | 112,839 |  |   | (1 | )% |
| Impact of extra week in fiscal 2011         |   | — |  |   | (2,276 | ) |   |   |
| Non-GAAP operating profit                   |   | $ | 111,653 |  |   | $ | 110,563 |  |   | 1 |  % |
|                                        |   |   |   |   |   |   |
| Industrial Environmental Filtration Segment |   |   |   |   |   |   |
| Net sales, as reported (GAAP)               |   | $ | 541,364 |  |   | $ | 523,026 |  |   | 4 |  % |
| Impact of extra week in fiscal 2011         |   | — |  |   | (10,359 | ) |   |   |
| Non-GAAP net sales                          |   | $ | 541,364 |  |   | $ | 512,667 |  |   | 6 |  % |
|                                        |   |   |   |   |   |   |
| Operating profit, as reported (GAAP)        |   | $ | 64,766 |  |   | $ | 58,028 |  |   | 12 |  % |
| Impact of extra week in fiscal 2011         |   | — |  |   | (1,497 | ) |   |   |
| Non-GAAP operating profit                   |   | $ | 64,766 |  |   | $ | 56,532 |  |   | 15 |  % |
|                                        |   |   |   |   |   |   |
| Packaging Segment                           |   |   |   |   |   |   |
| Net sales, as reported (GAAP)               |   | $ | 76,794 |  |   | $ | 93,563 |  |   | (18 | )% |
| Impact of extra week in fiscal 2011         |   | — |  |   | (1,754 | ) |   |   |
| Non-GAAP net sales                          |   | $ | 76,794 |  |   | $ | 91,809 |  |   | (16 | )% |
|                                        |   |   |   |   |   |   |
| Operating profit, as reported (GAAP)        |   | $ | 6,295 |  |   | $ | 10,400 |  |   | (39 | )% |
| Impact of extra week in fiscal 2011         |   | — |  |   | (137 | ) |   |   |
| Non-GAAP operating profit                   |   | $ | 6,295 |  |   | $ | 10,263 |  |   | (39 | )% |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Goodwill and Indefinite-lived Intangible Assets – At November 30, 2013 we had $284.0 million of goodwill and indefinite-lived intangible assets, representing 20% of our total assets.  At November 30, 2012 we had $284.3 million of goodwill and indefinite-lived intangible assets, representing 24% of our total assets.  We review goodwill for impairment annually during the fourth quarter and more often if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount.  These reviews of fair value involve judgment and estimates of discount rates, terminal values, transaction multiples and future cash flows for the reporting units that may be impacted by future sales and operating results for the reporting units, market conditions and worldwide economic conditions.  All goodwill is allocated to a reporting unit component at the time of acquisition.  We have determined that the reporting unit components meet the criteria for aggregation into five reporting units.  These reporting units are aggregated based upon similar economic characteristics, nature of products and services, nature of production processes, type of customers and distribution methods.  In performing our impairment reviews, we estimated the fair values of the aggregated reporting units using a present value method that discounted future cash flows using market participant based assumptions.  We further analyzed various discount rates, transaction and capital market multiples and cash flows for aggregated reporting units to assess the reasonableness of our estimates and assumptions.  Using the relief-from-royalty method, we assess our trademarks and trade names for impairment on an annual basis during the fourth quarter or more often if an event occurs or changes in circumstances indicate that the carrying amount of indefinite-lived intangible assets may not be recoverable.  These reviews of fair value involve judgment and estimates, including projected revenues, royalty rates and discount rates.  We believe our valuation techniques and assumptions are reasonable for this purpose.  We have not materially changed our methodology for valuing goodwill and indefinite-lived intangible assets.  The results of our analysis performed as of November 30, 2013 indicated that the estimated fair value of each reporting unit and indefinite-lived intangible asset was substantially in excess of its carrying value and, accordingly, no impairment existed.  Also, based on a decline in the net sales of our TransWeb business, in the third quarter of 2013 we performed an impairment review of the related indefinite-lived intangible assets ($0.9 million carrying value) and determined that the estimated future cash flows of the relevant asset group were substantially more than the carrying value and no impairment existed.  We also performed an impairment review of the goodwill at the related reporting unit, and determined that the estimated fair value of the reporting unit exceeds its book value and no impairment existed.  There were no goodwill or indefinite lived intangible asset impairment charges recorded in fiscal years 2013, 2012 or 2011. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Definite-lived Intangible Assets – At November 30, 2013 we had $47.2 million of definite-lived intangible assets, net of accumulated amortization, representing 3% of our total assets.  At November 30, 2012 we had $53.3 million of definite-lived intangible assets, net of accumulated amortization, representing 4% of our total assets.  We review definite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the definite-lived intangible assets may not be recoverable.  Based on a decline in the net sales of our TransWeb business, in the third quarter of 2013 we performed an impairment review of the related definite-lived intangible assets ($9.3 million carrying value) and determined that the estimated future cash flows of the relevant asset group were sufficient to cover the carrying value and no impairment existed.  Our analysis includes management judgment and estimates related to the future cash flows, which we believe are reasonable. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Allowance for Losses on Accounts Receivable – Allowances for losses on customer accounts receivable balances are estimated based on economic conditions in the industries to which we sell and on historical experience by evaluating specific customer accounts for risk of loss, fluctuations in amounts owed and current payment trends.  Our concentration of risk is also monitored and at the end of 2013, the largest outstanding customer account balance was $6.0 million and the five largest account balances totaled $23.9 million.  The allowances provided are estimates that may be impacted by economic and market conditions which could have an effect on future allowance requirements and results of operations. |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Pensions – Our pension net periodic benefit expense and related obligations are determined using a number of significant actuarial assumptions, including those related to discount rates, long-term rates of return on pension plan assets and rates of compensation increases.  The discount rate assumption is intended to reflect the rate at which the pension benefit obligations could be effectively settled on the measurement date, taking into account the nature and duration of the benefit obligations of the plans.  The discount rates used for each plan were based on the Citigroup Pension Discount Curve.  The projected benefit payments in each year were discounted using the appropriate spot rate from the curve.  For each plan, a single discount rate was determined that produced the same total discounted value.  That rate, rounded to 25 basis points, was the discount rate selected for the plan.  At November 30, 2013 the 4.5% discount rate used for the qualified plans for U.S. employees and the 3.25% discount rate used for the non-qualified plans for U.S. employees were selected as the best estimates of the rates at which the benefit obligations could be effectively settled on the measurement date taking into account the nature and duration of the benefit obligations of the plans using high-quality fixed-income investments currently available (rated Aa or better) and expected to be available during the period to maturity of the benefits.  The 7.5% expected return on plan assets was determined based on historical long-term investment returns as well as future expectations given target investment asset allocations and current economic conditions.  The 4.0% rate of compensation increase represents the long-term assumption for expected increases in salaries among continuing active participants accruing benefits under the qualified plan.  The mortality table for the qualified plans is determined based on the actuarial table that is most reflective of the expected mortality of the plan participants.  The mortality table adopted (RP 2000 Projected) was developed for pension plans by a Society of Actuaries study.  The mortality table used for the nonqualified pension plan is specified by the plan agreement.  The assumptions are similarly determined for each pension obligation.  Actual results and future obligations will vary based on changes in interest rates, stock and bond market valuations and employee compensation. |

Note I

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Income Taxes – We are required to estimate and record income taxes payable for each of the U.S. and international jurisdictions in which we operate.  This process involves estimating actual current tax expense and assessing temporary differences resulting from differing accounting treatment between tax and book which result in deferred tax assets and liabilities.  In addition, accruals are also estimated for federal, state and international tax transactions for which deductibility is subject to interpretation.  Taxes payable and the related deferred tax differences may be impacted by changes to tax laws, changes in tax rates and changes in taxable profits and losses.  Reserves are also estimated for uncertain tax positions that are currently unresolved.  We routinely monitor the potential impact of such situations and believe that we are properly reserved, where appropriate. |

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|         |                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------|
| • | physical damage to and complete or partial closure of one or more of our manufacturing facilities |

|         |                                                                                     |
|---------|-------------------------------------------------------------------------------------|
| • | temporary or long-term disruption in the supply of raw materials from our suppliers |

|         |                                                                        |
|---------|------------------------------------------------------------------------|
| • | disruption in the transport of our products to customers and end users |

|         |                                                        |
|---------|--------------------------------------------------------|
| • | delay in the delivery of our products to our customers |

|         |                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | statements and assumptions relating to anticipated future growth, earnings, earnings per share, future cash flows and other financial performance measures; |

|         |                                                                               |
|---------|-------------------------------------------------------------------------------|
| • | statements regarding management's short-term and long-term performance goals; |

|         |                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | statements regarding anticipated order patterns from our customers or the anticipated economic conditions of the industries and markets that we serve; |

|         |                                                                                            |
|---------|--------------------------------------------------------------------------------------------|
| • | statements related to the performance of the U.S., European and other economies generally; |

|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | statements relating to the anticipated effects on results of operations or financial condition from recent and expected developments or events, including the acquisitions of the GE Air Filtration business and the Bekaert Business; |

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|         |                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | statements regarding our current cost structure positions and ability to capitalize on anticipated growth initiatives, including the expansion of facilities; |

|         |                                                                            |
|---------|----------------------------------------------------------------------------|
| • | statements related to future dividends or repurchases of our common stock; |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | statements related to tax positions and unrecognized tax benefits; |

|         |                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | statements related to our cash resources, borrowing capacity and compliance with financial covenants under the Credit Facility and the Term Loan Facility; |

|         |                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------|
| • | statements regarding anticipated payments pursuant to our pension plans and for other post-retirement benefits; |

|         |                                                                      |
|---------|----------------------------------------------------------------------|
| • | statements related to potential liability for environmental matters; |

|         |                                                                                           |
|---------|-------------------------------------------------------------------------------------------|
| • | statements related to the anticipated outcome of the 3M lawsuit referenced in Note L; and |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | any other statements or assumptions that are not historical facts. |

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|                              |
|------------------------------|
|                              |  |  |
|                         | Percentage of 2013 Net Sales |
| Functional currency:         |   |
| Euro                         | 7 | % |
| British Pound                | 3 | % |
| Chinese Yuan                 | 3 | % |
| Canadian Dollar              | 3 | % |
| All other foreign currencies | 8 | % |
|                         | 24 | % |

F-1

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F-2

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|                                                                                                                 |
|-----------------------------------------------------------------------------------------------------------------|
|                                                                                                                 |  |
|                                                                                                            | Page No. |
| Report of Independent Registered Public Accounting Firm                                                         | F-2 |
| Consolidated Statements of Earnings for the years ended November 30, 2013, 2012 and 2011                   | F-3 |
| Consolidated Statements of Comprehensive Earnings for the years ended November 30, 2013, 2012 and 2011          | F-4 |
| Consolidated Balance Sheets at November 30, 2013 and 2012                                                  | F-5 |
| Consolidated Statements of Shareholders’ Equity for the years ended November 30, 2013, 2012 and 2011 | F-6 |
| Consolidated Statements of Cash Flows for the years ended November 30, 2013, 2012 and 2011                 | F-8 |
| Notes to Consolidated Financial Statements                                                                      | F-9 |

|                                                         |
|---------------------------------------------------------|
|                                                         |  |
| II. Valuation and Qualifying Accounts and Reserves | S-1 |

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|         |
|---------|
|         |  |
| 2.2     | Purchase Agreement, dated as of November 5, 2013, by and between the Company and General Electric Company.  Incorporated by reference to Exhibit 2.1 to the Company's Current Report on Form 8-K filed November 5, 2013. |
| *2.2(a) | Amendment to Purchase Agreement, dated as of December 14, 2013, by and between the Company and General Electric Company. |
| 3.1     | The registrant’s Second Restated Certificate of Incorporation. Incorporated by reference to Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 1, 2007. |
| 3.2     | The registrant’s By-Laws, as amended. Incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed December 19, 2007. |
| 3.3     | Certificate of Designation of Series B Junior Participating Preferred Stock of CLARCOR as filed with the Secretary of State of the State of Delaware on April 2, 1996. Incorporated by reference to Exhibit 4.5 to the Registration Statement on Form 8-A filed April 3, 1996. |
| 4.1     | Certain instruments defining the rights of holders of long-term debt securities of CLARCOR and its subsidiaries are omitted pursuant to Item 601(b)(4)(iii)(A) of Regulation S-K. CLARCOR hereby agrees to furnish copies of these instruments to the SEC upon request. |
| 10.1    | The registrant’s Amended and Restated Deferred Compensation Plan for Directors of CLARCOR dated January 1, 2008. Incorporated by reference to Exhibit 10.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| 10.2    | The registrant’s Amended and Restated CLARCOR Deferred Compensation Plan dated January 1, 2008.  Incorporated by reference to Exhibit 10.2 to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| 10.2(a) | The registrant’s Supplemental Retirement Plan. Incorporated by reference to Exhibit 10.2 to the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 1984. + |
| 10.2(b) | The registrant’s Amended and Restated Executive Retirement Plan dated December 20, 1999 (the “Grandfathered Plan”).  Incorporated by reference to Exhibit 10.2(b) to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| 10.2(c) | The registrant’s Amended and Restated CLARCOR Executive Retirement Plan dated January 1, 2009 (the “Later ERP”).  Incorporated by reference to Exhibit 10.2(c) to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| 10.2(d) | Amendment No. 1 to the Grandfathered Plan effective as of December 14, 2009.  Incorporated by reference to Exhibit 10.2(d) to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| 10.2(e) | Amendment No.1 to the Later ERP dated and effective as of December 14, 2009.  Incorporated by reference to Exhibit 10.1 to the Company’s Current Report filed on Form 8-K on December 17, 2009. + |
| 10.2(f) | The registrant’s Amended and Restated CLARCOR Supplemental Pension Plan dated January 1, 2008.  Incorporated by reference to Exhibit 10.2(f) to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| 10.2(g) | The registrant’s Supplemental Retirement Plan (as amended and restated effective December 1, 1994).  Incorporated by reference to Exhibit 10.2(c) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 3, 1994. + |
| 10.4    | Form of Change in Control Agreement with each of Sam Ferrise, David J. Fallon, David J. Lindsay, Richard M. Wolfson, Christopher L. Conway and other Company executives. Incorporated by reference to Exhibit 10.1 to the Company’s Current Report filed on Form 8-K on December 30, 2008 (the “2008 8-K”). + |
| 10.4(a) | Trust Agreement dated December 1, 1997. Incorporated by reference to Exhibit 10.4(d) to the Company’s Annual Report on Form 10-K for the fiscal year ended November 29, 1997 (the “1997 10-K”). + |
| 10.4(b) | Executive Benefit Trust Agreement dated December 22, 1997. Incorporated by reference to Exhibit 10.4(e) to the 1997   10-K. + |
| 10.5    | The registrant’s 1994 Incentive Plan (the “1994 Plan”) as amended through June 30, 2000. Incorporated by reference to Exhibit 10.5 to the 2000 10-K. + |
| 10.5(a) | Amendment to the 1994 Plan adopted December 18, 2000. Incorporated by reference to Exhibit 10.5(a) to the 2000 10-K. + |
| 10.5(b) | The registrant’s 2004 Incentive Plan (the “2004 Plan”). Incorporated by reference to Exhibit A to the Company’s Proxy Statement dated February 20, 2003 for the Annual Meeting of Shareholders held on March 24, 2003. + |
| 10.5(c) | Amendment to the 1994 Plan and to the 2004 Plan. Incorporated by reference to Exhibit 10.5(c) to the Company’s Annual Report for the fiscal year ended November 29, 2003. + |
| 10.6(a) | Credit Agreement, dated as of April 5, 2012, by and among the Company, the lenders party thereto and Bank of America, N.A., as administrative agent, as swing line lender and as a letter of credit issuer.  Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed April 6, 2012. |

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|           |
|-----------|
|           |  |
| 10.6(b)   | Amendment No. 1 to Credit Agreement and Amendment No. 1 to Subsidiary Guaranty, dated as of November 22, 2013, by and among the Company, the lenders party thereto and Bank of America, N. A., as administrative agent, as swing line lender and as a letter of credit issuer.  Incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed November 22, 2013. |
| 10.7      | Form of Stock Option Agreement used by Company for all employees receiving stock option awards, including grants to executive officers, made under the 2004 Plan.  Incorporated by reference to Exhibit 10.7 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 2, 2006 (the “2006 10-K”). + |
| 10.7(a)   | Form of Stock Option Agreement used by Company for certain executive officers and certain other senior members of Company management receiving stock option awards made under the 2004 Plan. Incorporated by reference to Exhibit 10.7(a) to the Company’s Annual Report on Form 10-K for the fiscal year ended December 1, 2007. + |
| 10.7(b)   | Form of Agreement for the Issuance of Restricted Stock Units used by Company for all employees receiving restricted stock units, including executive officers, made under the 2004 Plan.   Incorporated by reference to Exhibit 10.7(b) to the Company’s Annual Report on Form 10-K for the fiscal year ended November 28, 2009. + |
| *10.7(c)  | Form of Stock Option Agreement used by Company for all employees receiving stock option awards, including grants to executive officers, made under the 2009 Plan.+ |
| *10.7(d)  | Form of Agreement for the Issuance of Restricted Stock Units used by Company for all employees receiving restricted stock units, including executive officers, made under the 2009 Plan.+ |
| 10.8      | CLARCOR Value Added Incentive Plan. Incorporated by reference to Exhibit A to the Company’s Proxy Statement dated February 9, 2007 for the Annual Meeting of Shareholders held on March 26, 2007. + |
| 10.9      | CLARCOR Inc. 2009 Incentive Plan (the "2009 Plan").  Incorporated by reference to Appendix A to the Company’s Proxy Statement dated February 13, 2009 for the Annual Meeting of Shareholders held on March 23, 2009. + |
| *10.10    | Summary of Compensation Paid to Non-Employee Directors and Named Executive Officers. + |
| *12.1     | Statement Re Computation of Certain Ratios. |
| *13       | The “11-Year Financial Review.” |
| *21       | Subsidiaries of the Registrant. |
| *23       | Consent of Independent Registered Public Accounting Firm. |
| *31.1     | Certification of Christopher L. Conway, President and Chief Executive Officer of the Company, pursuant to Rule13a-14(a) of the Exchange Act. |
| *31.2     | Certification of David J. Fallon, Chief Financial Officer and Chief Accounting Officer of the Company, pursuant to Rule 13a-14(a) of the Exchange Act. |
| *32.1     | Certification of Christopher L. Conway, President and Chief Executive Officer of the Company, pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code. |
| *32.2     | Certification of David J. Fallon, Chief Financial Officer and Chief Accounting Officer of the Company, pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code. |
| **101.INS | XBRL Instance Document |
| **101.SCH | XBRL Taxonomy Extension Schema Document |
| **101.CAL | XBRL Taxonomy Extension Calculation Linkbase |
| **101.LAB | XBRL Taxonomy Extension Label Linkbase |
| **101.PRE | XBRL Taxonomy Extension Presentation Linkbase |
| **101.DEF | XBRL Taxonomy Extension Definition Linkbase |

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|        |
|--------|
|        |  |  |
|   | CLARCOR Inc. |
|   | (Registrant) |
|   | By: | /s/ CHRISTOPHER L. CONWAY |
|   |   | Christopher L. Conway |
|   |   | Chairman of the Board, President & Chief Executive Officer |

|                        |
|------------------------|
|                        |  |  |
| Date: January 24, 2014 | By: | /s/ CHRISTOPHER L. CONWAY |
|                   |   | Christopher L. ConwayChairman of the Board, President & Chief Executive Officer |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ DAVID J. FALLON |
|                   |   | David J. FallonChief Financial Officer &Chief Accounting Officer |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ PHILLIP R. LOCHNER, JR. |
|                   |   | Phillip R. Lochner, Jr.Director |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ WESLEY M. CLARK |
|                   |   | Wesley M. ClarkDirector |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ ROBERT J. BURGSTAHLER |
|                   |   | Robert J. BurgstahlerDirector |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ PAUL DONOVAN |
|                   |   | Paul DonovanDirector |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ MARK A. EMKES |
|                   |   | Mark A. EmkesDirector |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ ROBERT H. JENKINS |
|                   |   | Robert H. JenkinsDirector |
|                   |   |   |
| Date: January 24, 2014 | By: | /s/ JAMES L. PACKARD |
|                   |   | James L. PackardDirector |

----

Table of Contents

----

Table of Contents

----

Table of Contents

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | 2013 |   | 2012 |   | 2011 |
| Net sales                                                            | $ | 1,130,770 |  |   | $ | 1,121,765 |  |   | $ | 1,126,601 |  |
| Cost of sales                                                        | 760,561 |  |   | 741,433 |  |   | 743,180 |  |
| Gross profit                                                         | 370,209 |  |   | 380,332 |  |   | 383,421 |  |
|                                                                 |   |   |   |   |   |
| Selling and administrative expenses                                  | 195,593 |  |   | 197,618 |  |   | 202,154 |  |
| Operating profit                                                     | 174,616 |  |   | 182,714 |  |   | 181,267 |  |
|                                                                 |   |   |   |   |   |
| Other income (expense):                                              |   |  |   |   |  |   |   |  |
| Interest expense                                                     | (615 | ) |   | (527 | ) |   | (469 | ) |
| Interest income                                                      | 690 |  |   | 600 |  |   | 649 |  |
| Other, net                                                           | (391 | ) |   | 210 |  |   | (139 | ) |
|                                                                 | (316 | ) |   | 283 |  |   | 41 |  |
|                                                                 |   |   |   |   |   |
| Earnings before income taxes                                         | 174,300 |  |   | 182,997 |  |   | 181,308 |  |
| Provision for income taxes                                           | 55,950 |  |   | 59,657 |  |   | 56,947 |  |
|                                                                 |   |   |   |   |   |
| Net earnings                                                         | 118,350 |  |   | 123,340 |  |   | 124,361 |  |
|                                                                 |   |   |   |   |   |
| Net earnings attributable to noncontrolling interests, net of tax    | (274 | ) |   | (354 | ) |   | (358 | ) |
|                                                                 |   |   |   |   |   |
| Net earnings attributable to CLARCOR Inc.                            | $ | 118,076 |  |   | $ | 122,986 |  |   | $ | 124,003 |  |
|                                                                 |   |   |   |   |   |
| Net earnings per common share attributable to CLARCOR Inc. - Basic   | $ | 2.36 |  |   | $ | 2.45 |  |   | $ | 2.46 |  |
| Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 2.34 |  |   | $ | 2.42 |  |   | $ | 2.42 |  |
|                                                                 |   |   |   |   |   |
| Weighted average number of shares outstanding - Basic                | 49,988,577 |  |   | 50,285,480 |  |   | 50,501,842 |  |
| Weighted average number of shares outstanding - Diluted              | 50,538,947 |  |   | 50,882,191 |  |   | 51,191,435 |  |

----

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |  |  |  |  |  |  |  |  |
|                                                                           | 2013 |   | 2012 |   | 2011 |
| Net earnings                                                                   | $ | 118,350 |  |   | $ | 123,340 |  |   | $ | 124,361 |  |
|                                                                           |   |   |   |   |   |
| Other comprehensive income:                                                    |   |   |   |   |   |
| Pension and other postretirement benefits --                                   |   |   |   |   |   |
| Pension and other postretirement benefits liability adjustments                | 33,315 |  |   | (10,240 | ) |   | (12,268 | ) |
| Pension and other postretirement benefits liability adjustments tax amounts    | (12,286 | ) |   | 4,006 |  |   | 4,654 |  |
| Pension and other postretirement benefits liability adjustments, net of tax    | 21,029 |  |   | (6,234 | ) |   | (7,614 | ) |
|                                                                           |   |   |   |   |   |
| Foreign currency translation --                                                |   |   |   |   |   |
| Translation adjustments                                                        | 918 |  |   | (1,085 | ) |   | (2,010 | ) |
| Translation adjustments tax amounts                                            | — |  |   | — |  |   | — |  |
| Translation adjustments, net of tax                                            | 918 |  |   | (1,085 | ) |   | (2,010 | ) |
|                                                                           |   |   |   |   |   |
| Comprehensive earnings                                                         | 140,297 |  |   | 116,021 |  |   | 114,737 |  |
|                                                                           |   |   |   |   |   |
| Comprehensive earnings attributable to non-redeemable noncontrolling interests | (245 | ) |   | (155 | ) |   | (95 | ) |
| Comprehensive earnings attributable to redeemable noncontrolling interests     | (82 | ) |   | (197 | ) |   | 11 |  |
|                                                                           |   |   |   |   |   |
| Comprehensive earnings attributable to CLARCOR Inc.                            | $ | 139,970 |  |   | $ | 115,669 |  |   | $ | 114,653 |  |

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Table of Contents

|                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------|
|                                                                                                                    |  |  |  |  |  |  |  |
|                                                                                                               | 2013 |   | 2012 |
| ASSETS                                                                                                             |   |   |   |
| Current assets:                                                                                                    |   |   |   |
| Cash and cash equivalents                                                                                          | $ | 411,562 |  |   | $ | 185,496 |  |
| Restricted cash                                                                                                    | 763 |  |   | 566 |  |
| Accounts receivable, less allowance for losses of $9,183 for 2013 and $9,554 for 2012                              | 224,829 |  |   | 214,474 |  |
| Inventories                                                                                                        | 218,786 |  |   | 211,251 |  |
| Deferred income taxes                                                                                              | 25,313 |  |   | 34,693 |  |
| Income taxes receivable                                                                                            | 1,000 |  |   | — |  |
| Prepaid expenses and other current assets                                                                          | 9,868 |  |   | 8,114 |  |
| Total current assets                                                                                               | 892,121 |  |   | 654,594 |  |
|                                                                                                               |   |   |   |
| Property, plant and equipment, at cost, less accumulated depreciation                                              | 208,953 |  |   | 195,101 |  |
| Assets held for sale                                                                                               | — |  |   | 2,000 |  |
| Goodwill                                                                                                           | 241,299 |  |   | 241,924 |  |
| Acquired intangibles, less accumulated amortization                                                                | 89,881 |  |   | 95,681 |  |
| Other noncurrent assets                                                                                            | 16,589 |  |   | 16,202 |  |
| Total assets                                                                                                       | $ | 1,448,843 |  |   | $ | 1,205,502 |  |
| LIABILITIES                                                                                                        |   |  |   |   |  |
| Current liabilities:                                                                                               |   |  |   |   |  |
| Current portion of long-term debt                                                                                  | $ | 50,223 |  |   | $ | 201 |  |
| Accounts payable and accrued liabilities                                                                           | 157,538 |  |   | 172,262 |  |
| Income taxes payable                                                                                               | — |  |   | 2,428 |  |
| Total current liabilities                                                                                          | 207,761 |  |   | 174,891 |  |
|                                                                                                               |   |   |   |
| Long-term debt, less current portion                                                                               | 116,413 |  |   | 16,391 |  |
| Long-term pension and postretirement healthcare benefits liabilities                                               | 19,792 |  |   | 50,680 |  |
| Deferred income taxes                                                                                              | 64,415 |  |   | 51,385 |  |
| Other long-term liabilities                                                                                        | 5,753 |  |   | 8,571 |  |
| Total liabilities                                                                                                  | 414,134 |  |   | 301,918 |  |
|                                                                                                               |   |   |   |
| Contingencies (Note L)                                                                                             |  |  |   |  |  |
| Redeemable noncontrolling interests                                                                                | 1,836 |  |   | 1,754 |  |
|                                                                                                               |   |   |   |
| SHAREHOLDERS' EQUITY                                                                                               |   |  |   |   |  |
| Capital stock:                                                                                                     |   |  |   |   |  |
| Preferred, par value $1, authorized 5,000,000 shares, none issued                                                  | — |  |   | — |  |
| Common, par value $1, authorized 120,000,000 shares,  issued 50,370,541 for 2013 and 49,652,737 for 2012 | 50,371 |  |   | 49,653 |  |
| Capital in excess of par value                                                                                     | 22,278 |  |   | — |  |
| Accumulated other comprehensive loss                                                                               | (29,814 | ) |   | (51,708 | ) |
| Retained earnings                                                                                                  | 989,013 |  |   | 902,899 |  |
| Total CLARCOR Inc. equity                                                                                          | 1,031,848 |  |   | 900,844 |  |
| Noncontrolling interests                                                                                           | 1,025 |  |   | 986 |  |
| Total shareholders' equity                                                                                         | 1,032,873 |  |   | 901,830 |  |
| Total liabilities and shareholders' equity                                                                         | $ | 1,448,843 |  |   | $ | 1,205,502 |  |

----

|                                                                         |
|-------------------------------------------------------------------------|
|                                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                    | CLARCOR Inc. Shareholders |   |   |   |   |
|                                                                    | Common Stock |   |   |   | Accumulated Other Comprehensive  Loss |   |   |   |   |   |   |   |   |
|                                                                    | Issued |   | Capital in Excess of Par Value |   |   |   |   | Total CLARCOR Inc. Equity |   | Non-controlling Interests |   |   |
|                                                                    | Numberof Shares |   | Amount |   |   |   | RetainedEarnings |   |   |   | Total |
| Balance, November 30, 2010                                              | 50,334,776 |  |   | $ | 50,335 |  |   | $ | 33,698 |  |   | $ | (35,041 | ) |   | $ | 707,478 |  |   | $ | 756,470 |  |   | $ | 1,057 |  |   | $ | 757,527 |  |
| Net earnings (excludes redeemable noncontrolling interests)             | — |  |   | — |  |   | — |  |   | — |  |   | 124,003 |  |   | 124,003 |  |   | 348 |  |   | 124,351 |  |
| Other comprehensive loss (excludes redeemable noncontrolling interests) | — |  |   | — |  |   | — |  |   | (9,350 | ) |   | — |  |   | (9,350 | ) |   | (253 | ) |   | (9,603 | ) |
| Changes in noncontrolling interests ownership                           | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (321 | ) |   | (321 | ) |
| Stock options exercised                                                 | 439,582 |  |   | 440 |  |   | 2,944 |  |   | — |  |   | — |  |   | 3,384 |  |   | — |  |   | 3,384 |  |
| Tax benefit applicable to stock options                                 | — |  |   | — |  |   | 5,100 |  |   | — |  |   | — |  |   | 5,100 |  |   | — |  |   | 5,100 |  |
| Issuance and expense of stock under award plans                         | 54,346 |  |   | 54 |  |   | 1,947 |  |   | — |  |   | — |  |   | 2,001 |  |   | — |  |   | 2,001 |  |
| Purchase and retire stock                                               | (683,776 | ) |   | (684 | ) |   | (28,633 | ) |   | — |  |   | — |  |   | (29,317 | ) |   | — |  |   | (29,317 | ) |
| Stock option expense                                                    | — |  |   | — |  |   | 4,397 |  |   | — |  |   | — |  |   | 4,397 |  |   | — |  |   | 4,397 |  |
| Cash dividends - $0.4350 per common share                               | — |  |   | — |  |   | — |  |   | — |  |   | (21,961 | ) |   | (21,961 | ) |   | — |  |   | (21,961 | ) |
| Balance, November 30, 2011                                              | 50,144,928 |  |   | $ | 50,145 |  |   | $ | 19,453 |  |   | $ | (44,391 | ) |   | $ | 809,520 |  |   | $ | 834,727 |  |   | $ | 831 |  |   | $ | 835,558 |  |
| Net earnings (excludes redeemable noncontrolling interests)             | — |  |   | — |  |   | — |  |   | — |  |   | 122,986 |  |   | 122,986 |  |   | 115 |  |   | 123,101 |  |
| Other comprehensive loss (excludes redeemable noncontrolling interests) | — |  |   | — |  |   | — |  |   | (7,317 | ) |   | — |  |   | (7,317 | ) |   | 40 |  |   | (7,277 | ) |
| Stock options exercised                                                 | 248,374 |  |   | 248 |  |   | 3,434 |  |   | — |  |   | — |  |   | 3,682 |  |   | — |  |   | 3,682 |  |
| Tax benefit applicable to stock options                                 | — |  |   | — |  |   | 2,007 |  |   | — |  |   | — |  |   | 2,007 |  |   | — |  |   | 2,007 |  |
| Issuance and expense of stock under award plans                         | 52,316 |  |   | 53 |  |   | 1,815 |  |   | — |  |   | — |  |   | 1,868 |  |   | — |  |   | 1,868 |  |
| Purchase and retire stock                                               | (792,881 | ) |   | (793 | ) |   | (31,516 | ) |   | — |  |   | (5,011 | ) |   | (37,320 | ) |   | — |  |   | (37,320 | ) |
| Stock option expense                                                    | — |  |   | — |  |   | 4,997 |  |   | — |  |   | — |  |   | 4,997 |  |   | — |  |   | 4,997 |  |
| Other                                                                   | — |  |   | — |  |   | (190 | ) |   | — |  |   | 315 |  |   | 125 |  |   | — |  |   | 125 |  |
| Cash dividends - $0.4950 per common share                               | — |  |   | — |  |   | — |  |   | — |  |   | (24,911 | ) |   | (24,911 | ) |   | — |  |   | (24,911 | ) |
| Balance, November 30, 2012                                              | 49,652,737 |  |   | $ | 49,653 |  |   | $ | — |  |   | $ | (51,708 | ) |   | $ | 902,899 |  |   | $ | 900,844 |  |   | $ | 986 |  |   | $ | 901,830 |  |
|                                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                    |   |   |   |   | (Continued) |  |   |   |   |   |   |   |   |   |   |   |

----

|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                        | CLARCOR Inc. Shareholders |   |   |   |   |
|                                                                        | Common Stock |   |   |   | Accumulated Other Comprehensive  Loss |   |   |   |   |   |   |   |   |
|                                                                        | Issued |   | Capital in Excess of Par Value |   |   |   |   | Total CLARCOR Inc. Equity |   | Non-controlling Interests |   |   |
|                                                                        | Numberof Shares |   | Amount |   |   |   | RetainedEarnings |   |   |   | Total |
| Balance, November 30, 2012                                                  | 49,652,737 |  |   | $ | 49,653 |  |   | $ | — |  |   | $ | (51,708 | ) |   | $ | 902,899 |  |   | $ | 900,844 |  |   | $ | 986 |  |   | $ | 901,830 |  |
| Net earnings (excludes redeemable noncontrolling interests)                 | — |  |   | — |  |   | — |  |   | — |  |   | 118,076 |  |   | 118,076 |  |   | 257 |  |   | 118,333 |  |
| Other comprehensive earnings (excludes redeemable noncontrolling interests) | — |  |   | — |  |   | — |  |   | 21,894 |  |   | — |  |   | 21,894 |  |   | (12 | ) |   | 21,882 |  |
| Stock options exercised                                                     | 1,128,310 |  |   | 1,128 |  |   | 31,672 |  |   | — |  |   | — |  |   | 32,800 |  |   | — |  |   | 32,800 |  |
| Tax benefit applicable to stock options                                     | — |  |   | — |  |   | 7,231 |  |   | — |  |   | — |  |   | 7,231 |  |   | — |  |   | 7,231 |  |
| Tax benefit applicable to restricted stock                                  | — |  |   | — |  |   | 1,280 |  |   | — |  |   | — |  |   | 1,280 |  |   | — |  |   | 1,280 |  |
| Issuance and expense of stock under award plans                             | 123,594 |  |   | 124 |  |   | 2,839 |  |   | — |  |   | — |  |   | 2,963 |  |   | — |  |   | 2,963 |  |
| Purchase and retire stock                                                   | (534,100 | ) |   | (534 | ) |   | (23,956 | ) |   | — |  |   | (3,218 | ) |   | (27,708 | ) |   | — |  |   | (27,708 | ) |
| Stock option expense                                                        | — |  |   | — |  |   | 3,212 |  |   | — |  |   | — |  |   | 3,212 |  |   | — |  |   | 3,212 |  |
| Cash dividends - $0.5750 per common share                                   | — |  |   | — |  |   | — |  |   | — |  |   | (28,744 | ) |   | (28,744 | ) |   | (206 | ) |   | (28,950 | ) |
| Balance, November 30, 2013                                                  | 50,370,541 |  |   | $ | 50,371 |  |   | $ | 22,278 |  |   | $ | (29,814 | ) |   | $ | 989,013 |  |   | $ | 1,031,848 |  |   | $ | 1,025 |  |   | $ | 1,032,873 |  |

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Table of Contents

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                | 2013 |   | 2012 |   | 2011 |
| Cash flows from operating activities:                                               |   |   |   |   |   |
| Net earnings                                                                        | $ | 118,350 |  |   | $ | 123,340 |  |   | $ | 124,361 |  |
| Adjustments to reconcile net earnings to net cash provided by operating activities: |   |  |   |   |  |   |   |  |
| Depreciation                                                                        | 26,329 |  |   | 25,925 |  |   | 26,826 |  |
| Amortization                                                                        | 5,904 |  |   | 5,890 |  |   | 5,609 |  |
| Other noncash items                                                                 | 1,754 |  |   | (26 | ) |   | 368 |  |
| Net loss (gain) on disposition of assets                                            | 3,862 |  |   | (725 | ) |   | 452 |  |
| Stock-based compensation expense                                                    | 5,060 |  |   | 6,226 |  |   | 5,477 |  |
| Excess tax benefit from stock-based compensation                                    | (8,528 | ) |   | (2,007 | ) |   | (5,100 | ) |
| Deferred income taxes                                                               | 1,216 |  |   | 9,272 |  |   | 9,231 |  |
| Changes in assets and liabilities, net of business acquisitions:                    |   |  |   |   |  |   |   |  |
| Accounts receivable                                                                 | (11,044 | ) |   | (7,666 | ) |   | (16,918 | ) |
| Inventories                                                                         | (7,826 | ) |   | (8,320 | ) |   | (16,782 | ) |
| Prepaid expenses and other current assets                                           | (1,833 | ) |   | (329 | ) |   | (1,864 | ) |
| Other noncurrent assets                                                             | 1,396 |  |   | (2,836 | ) |   | 746 |  |
| Accounts payable, accrued liabilities and other liabilities                         | 8,363 |  |   | (5,650 | ) |   | (15,954 | ) |
| Pension and postretirement healthcare liabilities, net                              | (20,616 | ) |   | (13,349 | ) |   | (5,958 | ) |
| Income taxes                                                                        | 12,854 |  |   | 6,104 |  |   | 9,055 |  |
| Net cash provided by operating activities                                           | 135,241 |  |   | 135,849 |  |   | 119,549 |  |
|                                                                                |   |   |   |   |   |
| Cash flows from investing activities:                                               |   |  |   |   |  |   |   |  |
| Restricted cash                                                                     | (197 | ) |   | 240 |  |   | 149 |  |
| Business acquisitions, net of cash acquired                                         | — |  |   | (5,411 | ) |   | (11,121 | ) |
| Payments for purchase of property, plant and equipment                              | (44,651 | ) |   | (36,468 | ) |   | (22,486 | ) |
| Proceeds from disposition of plant assets                                           | 3,373 |  |   | 534 |  |   | 327 |  |
| Investment in affiliate                                                             | (615 | ) |   | (1,023 | ) |   | (596 | ) |
| Proceeds from insurance claims                                                      | — |  |   | — |  |   | 200 |  |
| Net cash used in investing activities                                               | (42,090 | ) |   | (42,128 | ) |   | (33,527 | ) |
|                                                                                |   |   |   |   |   |
| Cash flows from financing activities:                                               |   |  |   |   |  |   |   |  |
| Borrowings under multicurrency revolving credit agreement                           | 50,000 |  |   | — |  |   | — |  |
| Borrowings under term loan facility                                                 | 100,000 |  |   | — |  |   | — |  |
| Payments on long-term debt, including business acquisition-related seller financing | (4,037 | ) |   | (10,500 | ) |   | (7,490 | ) |
| Payments of financing costs                                                         | (298 | ) |   | (564 | ) |   | — |  |
| Sale of capital stock under stock option and employee purchase plans                | 35,047 |  |   | 6,415 |  |   | 8,449 |  |
| Payments for repurchase of common stock                                             | (27,708 | ) |   | (37,320 | ) |   | (29,317 | ) |
| Excess tax benefit from stock-based compensation                                    | 8,528 |  |   | 2,007 |  |   | 5,100 |  |
| Dividend paid to noncontrolling interests                                           | (206 | ) |   | — |  |   | (321 | ) |
| Cash dividends paid                                                                 | (28,744 | ) |   | (24,911 | ) |   | (21,961 | ) |
| Net cash provided by (used in) financing activities                                 | 132,582 |  |   | (64,873 | ) |   | (45,540 | ) |
| Net effect of exchange rate changes on cash                                         | 333 |  |   | 649 |  |   | (1,505 | ) |
| Net change in cash and cash equivalents                                             | 226,066 |  |   | 29,497 |  |   | 38,977 |  |
| Cash and cash equivalents, beginning of period                                      | 185,496 |  |   | 155,999 |  |   | 117,022 |  |
| Cash and cash equivalents, end of period                                            | $ | 411,562 |  |   | $ | 185,496 |  |   | $ | 155,999 |  |
|                                                                                |   |   |   |   |   |
| Cash paid during the period for interest                                            | $ | 374 |  |   | $ | 397 |  |   | $ | 300 |  |
| Cash paid during the period for income taxes, net of refunds                        | $ | 42,602 |  |   | $ | 43,821 |  |   | $ | 37,959 |  |
|                                                                                |   |   |   |   |   |

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Note O

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|                   |
|-------------------|
|                   |  |  |  |  |  |  |  |
|              | 2013 |   | 2012 |
| Raw materials     | $ | 80,741 |  |   | $ | 75,928 |  |
| Work in process   | 34,402 |  |   | 34,996 |  |
| Finished products | 103,643 |  |   | 100,327 |  |
|              | $ | 218,786 |  |   | $ | 211,251 |  |

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Table of Contents

|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |  |  |  |  |
|                                 | 2013 |   | 2012 |   | 2011 |
| Pension liability, net of tax        | $ | (29,878 | ) |   | $ | (50,890 | ) |   | $ | (44,656 | ) |
| Translation adjustments, net of tax  | 64 |  |   | (818 | ) |   | 265 |  |
| Accumulated other comprehensive loss | $ | (29,814 | ) |   | $ | (51,708 | ) |   | $ | (44,391 | ) |

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Table of Contents

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |
|                    |   | 2013 |   | 2012 |
| Net sales               |   | $ | 7,035 |  |   | $ | 5,314 |  |
| Operating profit (loss) |   | $ | (1,513 | ) |   | $ | 149 |  |

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Note L

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |  |  |  |
|                    | 2013 |   | 2012 |   | 2011 |
| Net sales               | $ | 5,400 |  |   | $ | 8,607 |  |   | $ | 13,022 |  |
| Operating profit (loss) | $ | (2,262 | ) |   | $ | (378 | ) |   | $ | 2,552 |  |

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Table of Contents

|                                 |
|---------------------------------|
|                                 |  |  |  |  |  |  |  |
|                            | 2013 |   | 2012 |
| Land                            | $ | 9,444 |  |   | $ | 9,326 |  |
| Buildings and building fixtures | 119,207 |  |   | 107,857 |  |
| Machinery and equipment         | 388,669 |  |   | 372,358 |  |
| Construction in process         | 24,420 |  |   | 20,578 |  |
|                            | 541,740 |  |   | 510,119 |  |
| Accumulated depreciation        | (332,787 | ) |   | (315,018 | ) |
|                            | $ | 208,953 |  |   | $ | 195,101 |  |

----

Table of Contents

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             | Engine/MobileFiltration |   | Industrial/EnvironmentalFiltration |   | Packaging |   | Total |
| November 30, 2011           | $ | 21,087 |  |   | $ | 214,443 |  |   | $ | — |  |   | $ | 235,530 |  |
| Acquisitions                     | — |  |   | 5,596 |  |   | — |  |   | 5,596 |  |
| Currency translation adjustments | 506 |  |   | 292 |  |   | — |  |   | 798 |  |
| November 30, 2012           | $ | 21,593 |  |   | $ | 220,331 |  |   | $ | — |  |   | $ | 241,924 |  |
| Acquisitions                     | — |  |   | — |  |   | — |  |   | — |  |
| Currency translation adjustments | 275 |  |   | (900 | ) |   | — |  |   | (625 | ) |
| November 30, 2013           | $ | 21,868 |  |   | $ | 219,431 |  |   | $ | — |  |   | $ | 241,299 |  |

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | Engine/MobileFiltration |   | Industrial/EnvironmentalFiltration |   | Packaging |   | Total |
| November 30, 2013                                    |   |   |   |   |   |   |   |
| Indefinite Lived Intangibles:                             |   |   |   |   |   |   |   |
| Trademarks - indefinite lived                             | $ | 603 |  |   | $ | 42,058 |  |   | $ | — |  |   | $ | 42,661 |  |
|                                                      |   |   |   |   |   |   |   |
| Finite Lived Intangibles:                                 |   |   |   |   |   |   |   |
| Trademarks - finite lived, gross                          | 307 |  |   | 488 |  |   | — |  |   | 795 |  |
| Accumulated amortization                                  | (104 | ) |   | (329 | ) |   | — |  |   | (433 | ) |
| Trademarks - finite lived, net                            | $ | 203 |  |   | $ | 159 |  |   | $ | — |  |   | $ | 362 |  |
|                                                      |   |   |   |   |   |   |   |
| Customer relationships, gross                             | $ | 4,309 |  |   | $ | 45,244 |  |   | $ | — |  |   | $ | 49,553 |  |
| Accumulated amortization                                  | (1,870 | ) |   | (20,161 | ) |   | — |  |   | (22,031 | ) |
| Customer relationships, net                               | $ | 2,439 |  |   | $ | 25,083 |  |   | $ | — |  |   | $ | 27,522 |  |
|                                                      |   |   |   |   |   |   |   |
| Other acquired intangibles, gross                         | $ | 243 |  |   | $ | 39,894 |  |   | $ | — |  |   | $ | 40,137 |  |
| Accumulated amortization                                  | (243 | ) |   | (20,558 | ) |   | — |  |   | (20,801 | ) |
| Other acquired intangibles, net                           | $ | — |  |   | $ | 19,336 |  |   | $ | — |  |   | $ | 19,336 |  |
|                                                      |   |   |   |   |   |   |   |
| Total finite lived intangible assets, net                 | $ | 2,642 |  |   | $ | 44,578 |  |   | $ | — |  |   | $ | 47,220 |  |
| Acquired intangible assets, less accumulated amortization | $ | 3,245 |  |   | $ | 86,636 |  |   | $ | — |  |   | $ | 89,881 |  |

----

Table of Contents

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | Engine/MobileFiltration |   | Industrial/EnvironmentalFiltration |   | Packaging |   | Total |
| November 30, 2012                                    |   |   |   |   |   |   |   |
| Indefinite Lived Intangibles:                             |   |   |   |   |   |   |   |
| Trademarks - indefinite lived                             | $ | 603 |  |   | $ | 41,729 |  |   | $ | — |  |   | $ | 42,332 |  |
|                                                      |   |   |   |   |   |   |   |
| Finite Lived Intangibles:                                 |   |   |   |   |   |   |   |
| Trademarks - finite lived, gross                          | 300 |  |   | 488 |  |   | — |  |   | 788 |  |
| Accumulated amortization                                  | (89 | ) |   | (316 | ) |   | — |  |   | (405 | ) |
| Trademarks - finite lived, net                            | $ | 211 |  |   | $ | 172 |  |   | $ | — |  |   | $ | 383 |  |
|                                                      |   |   |   |   |   |   |   |
| Customer relationships, gross                             | $ | 4,278 |  |   | $ | 45,517 |  |   | $ | — |  |   | $ | 49,795 |  |
| Accumulated amortization                                  | (1,701 | ) |   | (16,813 | ) |   | — |  |   | (18,514 | ) |
| Customer relationships, net                               | $ | 2,577 |  |   | $ | 28,704 |  |   | $ | — |  |   | $ | 31,281 |  |
|                                                      |   |   |   |   |   |   |   |
| Other acquired intangibles, gross                         | $ | 243 |  |   | $ | 39,885 |  |   | $ | — |  |   | $ | 40,128 |  |
| Accumulated amortization                                  | (243 | ) |   | (18,200 | ) |   | — |  |   | (18,443 | ) |
| Other acquired intangibles, net                           | $ | — |  |   | $ | 21,685 |  |   | $ | — |  |   | $ | 21,685 |  |
|                                                      |   |   |   |   |   |   |   |
| Total finite lived intangible assets, net                 | $ | 2,788 |  |   | $ | 50,561 |  |   | $ | — |  |   | $ | 53,349 |  |
| Acquired intangible assets, less accumulated amortization | $ | 3,391 |  |   | $ | 92,290 |  |   | $ | — |  |   | $ | 95,681 |  |

|                                           |
|-------------------------------------------|
|                                           |  |  |  |
| Amortization expense for the years ended: |   |
| 2013                                      | $ | 5,904 |  |
| 2012                                      | 5,890 |  |
| 2011                                      | 5,609 |  |

----

Table of Contents

|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |
| Estimated amortization expense for the next five years: |   |
| 2014                                                    | $ | 5,685 |  |
| 2015                                                    | 5,623 |  |
| 2016                                                    | 5,448 |  |
| 2017                                                    | 5,253 |  |
| 2018                                                    | 4,589 |  |

|         |                                                                   |
|---------|-------------------------------------------------------------------|
| • | Level 1 – Quoted active market prices for identical assets; |

|         |                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 2 – Significant other observable inputs, such as quoted prices for similar (but not identical) instruments in active markets, quoted prices for identical or similar instruments in markets which are not active and model determined valuations in which all significant inputs or significant value-drivers are observable in active markets; and |

|         |                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 3 – Significant unobservable inputs, such as model determined valuations in which one or more significant inputs or significant value-drivers are unobservable. |

|                                                                       |
|-----------------------------------------------------------------------|
|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                  | Fair Value Measurements at Reporting Date |
|                                                                  | Total |   | Level 1 |   | Level 2 |   | Level 3 |
| November 30, 2013                                                |   |   |   |   |   |   |   |
| Restricted trust, included in Other noncurrent assets                 |   |   |   |   |   |   |   |
| Mutual fund investments - equities                                    | $ | 593 |  |   | $ | 593 |  |   | $ | — |  |   | $ | — |  |
| Mutual fund investments - bonds                                       | 400 |  |   | 400 |  |   | — |  |   | — |  |
| Cash and equivalents                                                  | 31 |  |   | 31 |  |   | — |  |   | — |  |
| Total restricted trust                                                | $ | 1,024 |  |   | $ | 1,024 |  |   | $ | — |  |   | $ | — |  |
|                                                                  |   |   |   |   |   |   |   |
| TransWeb contingent earn-out, included in Other long-term liabilities | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
|                                                                  |   |   |   |   |   |   |   |
| November 30, 2012                                                |   |  |   |   |  |   |   |  |   |   |  |
| Restricted trust, included in Other noncurrent assets                 |   |  |   |   |  |   |   |   |   |
| Mutual fund investments - equities                                    | $ | 614 |  |   | $ | 614 |  |   | $ | — |  |   | $ | — |  |
| Mutual fund investments - bonds                                       | 425 |  |   | 425 |  |   | — |  |   | — |  |
| Cash and equivalents                                                  | 31 |  |   | 31 |  |   | — |  |   | — |  |
| Total restricted trust                                                | $ | 1,070 |  |   | $ | 1,070 |  |   | $ | — |  |   | $ | — |  |
|                                                                  |   |   |   |   |   |   |   |
| TransWeb contingent earn-out, included in Other long-term liabilities | $ | 1,292 |  |   | $ | — |  |   | $ | — |  |   | $ | 1,292 |  |

----

Table of Contents

Note B

|                                                            |
|------------------------------------------------------------|
|                                                            |  |  |  |  |  |  |  |
|                                                       | 2013 |   | 2012 |
| Accounts payable                                           | $ | 79,164 |  |   | $ | 69,206 |  |
| Accrued salaries, wages and commissions                    | 14,908 |  |   | 16,884 |  |
| Pension and postretirement healthcare benefits liabilities | 278 |  |   | 21,442 |  |
| Compensated absences                                       | 8,600 |  |   | 9,010 |  |
| Accrued insurance liabilities                              | 7,599 |  |   | 7,733 |  |
| Customer deposits                                          | 16,081 |  |   | 14,207 |  |
| Other accrued liabilities                                  | 30,908 |  |   | 33,780 |  |
|                                                       | $ | 157,538 |  |   | $ | 172,262 |  |

----

Table of Contents

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |
|                                              | 2013 |   | 2012 |   | 2011 |
| Warranty accrual at beginning of period           | $ | 1,533 |  |   | $ | 2,580 |  |   | $ | 3,499 |  |
| Accruals for warranties issued during the period  | 844 |  |   | 514 |  |   | 622 |  |
| Adjustments related to business acquisitions      | — |  |   | 32 |  |   | — |  |
| Adjustments related to pre-existing warranties    | (290 | ) |   | (691 | ) |   | (846 | ) |
| Settlements made during the period                | (500 | ) |   | (850 | ) |   | (316 | ) |
| Other adjustments, including currency translation | 12 |  |   | (52 | ) |   | (379 | ) |
| Warranty accrual at end of period                 | $ | 1,599 |  |   | $ | 1,533 |  |   | $ | 2,580 |  |

|                                                                                                                              |
|------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                              |  |  |  |  |  |  |  |  |
|                                                                                                                         |   | 2013 |   | 2012 |
| Credit Facility:                                                                                                             |   |   |   |
|                                                                                                                         | Multicurrency Revolving Credit Facility | $ | 50,000 |  |   | $ | — |  |
|                                                                                                                         | Multicurrency Term Loan Facility | 100,000 |  |   | — |  |
| Industrial Revenue Bonds, at weighted average interest rates of 0.23% and 0.35%, respectively, at November 30, 2013 and 2012 | 15,820 |  |   | 15,820 |  |
| Other long-term debt                                                                                                         | 816 |  |   | 772 |  |
|   Total long-term debt                                                                                             | $ | 166,636 |  |   | $ | 16,592 |  |
|                                                                                                                         |   |   |   |   |
| Current portion of long-term debt                                                                                            | $ | 50,223 |  |   | $ | 201 |  |
| Long-term debt, less current portion                                                                                         | $ | 116,413 |  |   | $ | 16,391 |  |

----

Table of Contents

|            |
|------------|
|            |  |  |  |
| 2014       | $ | 50,223 |  |
| 2015       | 226 |  |
| 2016       | 8,635 |  |
| 2017       | 100,113 |  |
| 2018       | 29 |  |
| Thereafter | 7,410 |  |
|       | $ | 166,636 |  |

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |
| Rent expense for the years ended:                  |   |
| 2013                                               | $ | 16,124 |  |
| 2012                                               | 16,699 |  |
| 2011                                               | 16,518 |  |
|                                               |   |
| Future minimum rentals under noncancelable leases: |   |  |
| 2014                                               | $ | 17,221 |  |
| 2015                                               | 9,001 |  |
| 2016                                               | 5,929 |  |
| 2017                                               | 3,320 |  |
| 2018                                               | 2,089 |  |
| Thereafter                                         | 7,074 |  |

----

Table of Contents

Note E

|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                    | Pension Benefits |   | Other Postretirement Benefits |
|                                    | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Change in benefit obligation            |   |   |   |   |   |   |   |
| Benefit obligation at beginning of year | $ | 217,987 |  |   | $ | 186,841 |  |   | $ | 442 |  |   | $ | 550 |  |
| Currency translation                    | 190 |  |   | 200 |  |   | — |  |   | — |  |
| Service cost                            | 2,485 |  |   | 2,126 |  |   | — |  |   | — |  |
| Interest cost                           | 6,934 |  |   | 7,715 |  |   | 9 |  |   | 17 |  |
| Plan participants' contributions        | 39 |  |   | 42 |  |   | — |  |   | — |  |
| Actuarial (gains) losses                | (22,472 | ) |   | 28,119 |  |   | (73 | ) |   | (189 | ) |
| Benefits paid                           | (29,064 | ) |   | (7,056 | ) |   | (251 | ) |   | (282 | ) |
| Retiree contributions                   | — |  |   | — |  |   | 229 |  |   | 346 |  |
| Benefit obligation at end of year       | $ | 176,099 |  |   | $ | 217,987 |  |   | $ | 356 |  |   | $ | 442 |  |
|                                    |   |   |   |   |   |   |   |

----

Table of Contents

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                               | Pension Benefits |   | Other Postretirement Benefits |
|                                               | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Change in plan assets                              |   |  |   |   |  |   |   |  |   |   |  |
| Fair value of plan assets at beginning of year     | $ | 146,307 |  |   | $ | 112,548 |  |   | $ | — |  |   | $ | — |  |
| Currency translation                               | 174 |  |   | 175 |  |   | — |  |   | — |  |
| Actual return on plan assets                       | 14,305 |  |   | 18,325 |  |   | — |  |   | — |  |
| Employer contributions                             | 24,623 |  |   | 22,273 |  |   | 251 |  |   | 282 |  |
| Plan participants' contributions                   | 39 |  |   | 42 |  |   | — |  |   | — |  |
| Benefits paid                                      | (29,064 | ) |   | (7,056 | ) |   | (251 | ) |   | (282 | ) |
| Fair value of plan assets at end of year           | $ | 156,384 |  |   | $ | 146,307 |  |   | $ | — |  |   | $ | — |  |
| Funded status                                      | $ | (19,715 | ) |   | $ | (71,680 | ) |   | $ | (356 | ) |   | $ | (442 | ) |
|                                               |   |   |   |   |   |   |   |
| Accumulated benefit obligation at end of year      | $ | 170,433 |  |   | $ | 209,572 |  |   | n/a |   | n/a |
|                                               |   |   |   |   |   |   |   |
| Assumptions:                                       |   |  |   |   |  |   |   |  |   |   |  |
| Discount rate - qualified plans                    | 4.50% |   | 3.50% |   | 3.00% |   | 2.25% |
| Discount rate - nonqualified plans                 | 3.25% |   | 1.75% |   | n/a |   | n/a |
| Rate of compensation increase - qualified plans    | 4.00% |   | 4.00% |   | n/a |   | n/a |
| Rate of compensation increase - nonqualified plans | 4.00% |   | 4.00% |   | n/a |   | n/a |
| Measurement date                                   | 11/30/2013 |   | 11/30/2012 |   | 11/30/2013 |   | 11/30/2012 |

|                                                                               |
|-------------------------------------------------------------------------------|
|                                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                          | Pension Benefits |   | Other Postretirement Benefits |
|                                                                          | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Amounts recognized in the Consolidated Balance Sheets as of November 30       |   |   |   |   |   |   |   |
| Accounts payable and accrued liabilities                                      | $ | (216 | ) |   | $ | (21,372 | ) |   | $ | (63 | ) |   | $ | (70 | ) |
| Long-term pension and postretirement healthcare benefits liabilities          | (19,499 | ) |   | (50,308 | ) |   | (293 | ) |   | (372 | ) |
| Funded status                                                                 | $ | (19,715 | ) |   | $ | (71,680 | ) |   | $ | (356 | ) |   | $ | (442 | ) |
|                                                                          |   |   |   |   |   |   |   |
| Accumulated other comprehensive loss, pre-tax                                 | $ | 48,902 |  |   | $ | 83,392 |  |   | $ | (1,632 | ) |   | $ | (1,832 | ) |
|                                                                          |   |   |   |   |   |   |   |
| Amounts recognized in Accumulated Other Comprehensive Loss, as of November 30 |   |  |   |   |  |   |   |  |   |   |  |
| Unrecognized net actuarial loss (gain)                                        | $ | 48,914 |  |   | $ | 83,413 |  |   | $ | (1,037 | ) |   | $ | (1,114 | ) |
| Unrecognized net prior service credit                                         | (12 | ) |   | (21 | ) |   | (595 | ) |   | (718 | ) |
| Accumulated other comprehensive loss, pre-tax                                 | 48,902 |  |   | 83,392 |  |   | (1,632 | ) |   | (1,832 | ) |
| Deferred taxes                                                                | (17,979 | ) |   | (31,336 | ) |   | 587 |  |   | 666 |  |
| Accumulated other comprehensive loss, after-tax                               | $ | 30,923 |  |   | $ | 52,056 |  |   | $ | (1,045 | ) |   | $ | (1,166 | ) |

----

Table of Contents

|                                                                                                       |
|-------------------------------------------------------------------------------------------------------|
|                                                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                  | Pension Benefits |   | Other Postretirement Benefits |
|                                                                                                  | 2013 |   | 2012 |   | 2013 |   | 2012 |
| Amortization of prior service (cost) credit, net of tax of $(6), $(6) and $(44), $(45), respectively  | $ | 3 |  |   | $ | 3 |  |   | $ | 79 |  |   | $ | 77 |  |
| Amortization of actuarial (losses) gains, net of tax of $3,060, $3,164 and $(54), $(44), respectively | (5,498 | ) |   | (5,159 | ) |   | 95 |  |   | 77 |  |
| Current year actuarial losses (gains), net of tax of $9,304, $(7,143) and $26, $68, respectively      | (16,637 | ) |   | 11,876 |  |   | (46 | ) |   | (120 | ) |
| Effect of change in deferred tax rate                                                                 | 982 |  |   | (521 | ) |   | (7 | ) |   | 1 |  |
| Total                                                                                                 | $ | (21,150 | ) |   | $ | 6,199 |  |   | $ | 121 |  |   | $ | 35 |  |

|                           |
|---------------------------|
|                           |  |  |  |  |  |
|                      | 2013 |   | 2012 |
| Equity securities         | 51.0 | % |   | 60.6 | % |
| Debt securities           | 48.7 | % |   | 38.9 | % |
| Real estate               | — | % |   | — | % |
| Cash and cash equivalents | 0.3 | % |   | 0.5 | % |
|                      | 100.0 | % |   | 100.0 | % |

Note E

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Fair Value Measurements at Reporting Date |
|                                                  | Total |   | Level 1 |   | Level 2 |   | Level 3 |
| November 30, 2013                                |   |   |   |   |   |   |   |
| U.S. equity securities funds                          | $ | 55,129 |  |   | $ | 55,129 |  |   | $ | — |  |   | $ | — |  |
| Non-U.S. equity securities funds                      | $ | 24,587 |  |   | 24,587 |  |   | — |  |   | — |  |
| Fixed income securities funds                         | $ | 76,121 |  |   | 76,121 |  |   | — |  |   | — |  |
| Cash and equivalents funds                            | $ | 547 |  |   | 547 |  |   | — |  |   | — |  |
| Total                                                 | $ | 156,384 |  |   | $ | 156,384 |  |   | $ | — |  |   | $ | — |  |
| Other items to reconcile to fair value of plan assets | — |  |   |   |  |   |   |  |   |   |  |
| Fair value of plan assets                             | $ | 156,384 |  |   |   |  |   |   |  |   |   |  |

----

Table of Contents

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Fair Value Measurements at Reporting Date |
|                                                  | Total |   | Level 1 |   | Level 2 |   | Level 3 |
| November 30, 2012                                |   |   |   |   |   |   |   |
| U.S. equity securities funds                          | $ | 61,272 |  |   | $ | 61,272 |  |   | $ | — |  |   | $ | — |  |
| Non-U.S. equity securities funds                      | $ | 27,422 |  |   | 27,422 |  |   | — |  |   | — |  |
| Fixed income securities funds                         | $ | 56,854 |  |   | 56,854 |  |   | — |  |   | — |  |
| Cash and equivalents funds                            | $ | 618 |  |   | 618 |  |   | — |  |   | — |  |
| Total                                                 | $ | 146,166 |  |   | $ | 146,166 |  |   | $ | — |  |   | $ | — |  |
| Other items to reconcile to fair value of plan assets | 141 |  |   |   |  |   |   |  |   |   |  |
| Fair value of plan assets                             | $ | 146,307 |  |   |   |  |   |   |  |   |   |  |

|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |
|                         | 2013 |   | 2012 |
| Balance at beginning of year | $ | — |  |   | $ | 3,782 |  |
| Unrealized gains             | — |  |   | — |  |
| Realized gains               | — |  |   | 279 |  |
| Sale of assets               | — |  |   | (4,061 | ) |
| Balance at end of year       | $ | — |  |   | $ | — |  |

----

Table of Contents

|                                                    |
|----------------------------------------------------|
|                                                    |  |  |  |  |  |  |  |  |  |  |  |
|                                               | Pension Benefits |
|                                               | 2013 |   | 2012 |   | 2011 |
| Components of net periodic benefit cost            |   |   |   |   |   |
| Service cost                                       | $ | 2,485 |  |   | $ | 2,126 |  |   | $ | 1,968 |  |
| Interest cost                                      | 6,934 |  |   | 7,715 |  |   | 8,133 |  |
| Expected return on plan assets                     | (10,795 | ) |   | (9,181 | ) |   | (7,674 | ) |
| Settlement costs                                   | 3,087 |  |   | — |  |   | 1,368 |  |
| Amortization of unrecognized:                      |   |   |   |  |   |   |  |
| Prior service cost                                 | (9 | ) |   | (10 | ) |   | (395 | ) |
| Net actuarial loss                                 | 5,471 |  |   | 8,323 |  |   | 5,110 |  |
| Net periodic benefit cost                          | $ | 7,173 |  |   | $ | 8,973 |  |   | $ | 8,510 |  |
|                                               |   |   |   |   |   |
| Assumptions:                                       |   |  |   |   |  |   |   |  |
| Discount rate - qualified plans                    | 3.50% |   | 4.50% |   | 5.25% |
| Discount rate - nonqualified plans                 | 3.25% |   | 1.75% |   | 2.75% |
| Expected return on plan assets                     | 7.50% |   | 7.50% |   | 7.50% |
| Rate of compensation increase - qualified plans    | 4.00% |   | 4.00% |   | 4.00% |
| Rate of compensation increase - nonqualified plans | 4.00% |   | 4.00% |   | 4.00% |
| Measurement date - qualified plans                 | 11/30/2012 |   | 11/30/2011 |   | 11/30/2010 |
| Measurement date - nonqualified plans              | 11/30/2013 |   | 11/30/2012 |   | 11/30/2011 |

----

Table of Contents

|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |  |  |  |  |  |  |  |
|                                      | Other Postretirement Benefits |
|                                      | 2013 |   | 2012 |   | 2011 |
| Components of net periodic benefit income |   |   |   |   |   |
| Interest cost                             | 9 |  |   | 17 |  |   | 23 |  |
| Amortization of unrecognized:             |   |   |   |  |   |   |  |
| Prior service cost                        | (122 | ) |   | (122 | ) |   | (122 | ) |
| Net actuarial gain                        | (149 | ) |   | (121 | ) |   | (130 | ) |
| Net periodic benefit income               | $ | (262 | ) |   | $ | (226 | ) |   | $ | (229 | ) |
|                                      |   |   |   |   |   |
| Assumptions:                              |   |   |   |  |   |   |  |
| Discount rate                             | 2.25 | % |   | 3.50 | % |   | 3.75 | % |
| Measurement date                          | 11/30/2012 |   | 11/30/2011 |   | 11/30/2010 |

|                             |
|-----------------------------|
|                             |  |  |  |  |  |  |  |
|                        | PensionBenefits |   | OtherPostretirementBenefits |
| Prior service cost (credit) | $ | (10 | ) |   | $ | (123 | ) |
| Actuarial loss (gain)       | 2,882 |  |   | (149 | ) |
| Total                       | $ | 2,872 |  |   | $ | (272 | ) |

|           |
|-----------|
|           |  |  |  |  |  |  |  |
|      | PensionBenefits |   | OtherPostretirementBenefits |
| 2014      | $ | 8,089 |  |   | $ | 62 |  |
| 2015      | 8,441 |  |   | 57 |  |
| 2016      | 8,767 |  |   | 46 |  |
| 2017      | 9,212 |  |   | 38 |  |
| 2018      | 9,646 |  |   | 34 |  |
| 2019-2023 | 56,655 |  |   | 105 |  |

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|      |
|------|
|      |  |  |  |
| 2013 | $ | 4,482 |  |
| 2012 | 4,377 |  |
| 2011 | 3,933 |  |

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |  |  |  |  |
|                                                      | 2013 |   | 2012 |   | 2011 |
| Unrecognized tax benefits at December 1,                  | $ | 2,209 |  |   | $ | 3,015 |  |   | $ | 2,783 |  |
| Additions for current period tax positions                | 668 |  |   | 382 |  |   | 591 |  |
| Reductions for current period tax positions               | — |  |   | (37 | ) |   | — |  |
| Additions for prior period tax positions                  | — |  |   | — |  |   | — |  |
| Reductions for prior period tax positions                 | (40 | ) |   | (631 | ) |   | (193 | ) |
| Reductions for lapse of statue of limitations/settlements | (431 | ) |   | (460 | ) |   | (203 | ) |
| Changes in interest and penalties                         | (251 | ) |   | (60 | ) |   | 37 |  |
| Unrecognized tax benefits at November 30,                 | $ | 2,155 |  |   | $ | 2,209 |  |   | $ | 3,015 |  |

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|           |
|-----------|
|           |  |  |  |  |  |  |  |  |  |  |  |
|      | 2013 |   | 2012 |   | 2011 |
| Current:  |   |   |   |   |   |
| Federal   | $ | 34,414 |  |   | $ | 37,673 |  |   | $ | 34,374 |  |
| State     | 2,918 |  |   | 2,484 |  |   | 1,558 |  |
| Foreign   | 9,096 |  |   | 10,228 |  |   | 11,784 |  |
| Deferred: |   |  |   |   |  |   |   |  |
| Federal   | 8,676 |  |   | 8,763 |  |   | 9,196 |  |
| State     | (165 | ) |   | 805 |  |   | 1,086 |  |
| Foreign   | 1,011 |  |   | (296 | ) |   | (1,051 | ) |
|      | $ | 55,950 |  |   | $ | 59,657 |  |   | $ | 56,947 |  |

|                 |
|-----------------|
|                 |  |  |  |  |  |  |  |  |  |  |  |
|            | 2013 |   | 2012 |   | 2011 |
| Domestic income | $ | 141,224 |  |   | $ | 145,433 |  |   | $ | 139,840 |  |
| Foreign income  | 33,076 |  |   | 37,564 |  |   | 41,468 |  |
|            | $ | 174,300 |  |   | $ | 182,997 |  |   | $ | 181,308 |  |

|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |
|                                             | Percent of Pre-Tax Earnings |
|                                             | 2013 |   | 2012 |   | 2011 |
| Statutory U.S. tax rates                         | 35.0 |  % |   | 35.0 |  % |   | 35.0 |  % |
| State income taxes, net of federal benefit       | 1.0 |  |   | 1.4 |  |   | 1.3 |  |
| Tax credits                                      | (0.6 | ) |   | (0.1 | ) |   | (0.7 | ) |
| Foreign taxes at different rates, net of credits | (1.6 | ) |   | (2.0 | ) |   | (2.5 | ) |
| Domestic production activities deduction         | (2.2 | ) |   | (2.6 | ) |   | (2.4 | ) |
| Other, net                                       | 0.5 |  |   | 0.9 |  |   | 0.7 |  |
|                                             | 32.1 |  % |   | 32.6 |  % |   | 31.4 |  % |

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|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |
|                                    | 2013 |   | 2012 |
| Deferred tax assets:                    |   |   |   |
| Deferred compensation                   | $ | 7,945 |  |   | $ | 9,925 |  |
| Loss carryforward and tax credit items  | 2,529 |  |   | 2,603 |  |
| Accounts receivable                     | 5,973 |  |   | 5,911 |  |
| Inventories                             | 5,000 |  |   | 5,062 |  |
| Pensions                                | 4,781 |  |   | 26,222 |  |
| Accrued liabilities and other           | 1,219 |  |   | 1,403 |  |
| Valuation allowance                     | (1,102 | ) |   | (1,911 | ) |
| Total deferred tax assets, net          | 26,345 |  |   | 49,215 |  |
| Deferred tax liabilities:               |   |  |   |   |  |
| Percentage of completion                | (539 | ) |   | (366 | ) |
| Plant assets                            | (24,182 | ) |   | (25,708 | ) |
| Goodwill and acquired intangible assets | (40,380 | ) |   | (39,431 | ) |
| Other deferred tax liabilities          | (345 | ) |   | (402 | ) |
| Total deferred tax liabilities          | (65,446 | ) |   | (65,907 | ) |
| Deferred tax liability, net             | $ | (39,101 | ) |   | $ | (16,692 | ) |

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Note B

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|                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                           | 2013 |   | 2012 |   | 2011 |
| Pre-tax compensation expense                                                                                                                   | $ | 3,212 |  |   | $ | 4,997 |  |   | $ | 4,397 |  |
| Deferred tax benefits                                                                                                                          | (1,153 | ) |   | (1,836 | ) |   | (1,616 | ) |
| Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements | 7,231 |  |   | 2,007 |  |   | 5,100 |  |
| Fair value of options granted                                                                                                                  | 3,868 |  |   | 6,407 |  |   | 5,803 |  |
| Total intrinsic value of options exercised                                                                                                     | 29,384 |  |   | 8,793 |  |   | 16,732 |  |
| Cash received upon exercise of options                                                                                                         | 33,778 |  |   | 5,170 |  |   | 7,233 |  |
| Addition to capital in excess of par value due to exercise of stock options                                                                    | 38,903 |  |   | 5,440 |  |   | 8,045 |  |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             | 2013 |   | 2012 |   | 2011 |
|                             | OptionsGrantedunderIncentivePlans |   | WeightedAverageExercisePrice |   | OptionsGrantedunderIncentivePlans |   | WeightedAverageExercisePrice |   | OptionsGrantedunderIncentivePlans |   | WeightedAverageExercisePrice |
| Outstanding at beginning of year | 3,037,151 |  |   | $ | 36.09 |  |   | 2,907,533 |  |   | $ | 32.39 |  |   | 3,229,410 |  |   | $ | 29.07 |  |
| Granted                          | 387,500 |  |   | $ | 45.25 |  |   | 512,850 |  |   | $ | 49.84 |  |   | 494,750 |  |   | $ | 43.00 |  |
| Exercised                        | (1,191,752 | ) |   | $ | 30.30 |  |   | (353,793 | ) |   | $ | 25.28 |  |   | (774,661 | ) |   | $ | 25.12 |  |
| Surrendered                      | (24,585 | ) |   | $ | 42.48 |  |   | (29,439 | ) |   | $ | 40.17 |  |   | (41,966 | ) |   | $ | 36.06 |  |
| Outstanding at end of year       | 2,208,314 |  |   | $ | 40.76 |  |   | 3,037,151 |  |   | $ | 36.09 |  |   | 2,907,533 |  |   | $ | 32.39 |  |
|                             |   |   |   |   |   |   |   |   |   |   |   |
| Exercisable at end of year       | 1,413,100 |  |   | $ | 38.19 |  |   | 2,035,267 |  |   | $ | 32.54 |  |   | 1,971,197 |  |   | $ | 30.00 |  |

|                                   |
|-----------------------------------|
|                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                              |   | Options Outstanding |   | Options Exercisable |
| Range of ExercisePrices |   | Number |   | WeightedAverageExercisePrice |   | Intrinsic Value |   | WeightedAverageRemaining Lifein Years |   | Number |   | WeightedAverageExercisePrice |   | Intrinsic Value |   | WeightedAverageRemaining Lifein Years |
| $22.80 - $28.79                   |   | 157,850 |   | $ | 26.84 |  |   | $ | 5,318 |  |   | 2.48 |   | 157,850 |   | $ | 26.84 |  |   | $ | 5,318 |  |   | 2.48 |
| $31.96 - $38.06                   |   | 726,403 |   | $ | 33.83 |  |   | 19,395 |  |   | 4.51 |   | 672,844 |   | $ | 33.95 |  |   | 17,885 |  |   | 4.39 |
| $40.73 - $55.01                   |   | 1,324,061 |   | $ | 46.22 |  |   | 18,954 |  |   | 8.19 |   | 582,406 |   | $ | 46.16 |  |   | 8,368 |  |   | 7.70 |
|                              |   | 2,208,314 |   | $ | 40.76 |  |   | $ | 43,667 |  |   | 6.57 |   | 1,413,100 |   | $ | 38.19 |  |   | $ | 31,571 |  |   | 5.54 |

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|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |  |  |  |  |
|                                                                            | 2013 |   | 2012 |   | 2011 |
| Weighted average fair value per option at the date of grant for options granted | $ | 9.98 |  |   | $ | 12.49 |  |   | $ | 11.73 |  |
| Risk-free interest rate                                                         | 1.19 | % |   | 1.38 | % |   | 2.52 | % |
| Expected dividend yield                                                         | 1.19 | % |   | 0.96 | % |   | 0.98 | % |
| Expected volatility factor                                                      | 25.80 | % |   | 26.52 | % |   | 25.54 | % |
| Expected option term in years                                                   | 5.40 |  |   | 6.10 |  |   | 6.40 |  |

|                                                                                                                                                                 |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                 |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                                            | 2013 |   | 2012 |   | 2011 |
| Pre-tax compensation expense                                                                                                                                    | $ | 888 |  |   | $ | 1,229 |  |   | $ | 1,079 |  |
| Deferred tax benefits                                                                                                                                           | (319 | ) |   | (451 | ) |   | (396 | ) |
| Excess tax (expense) benefit associated with tax deductions (under) over the amount of compensation expense recognized in the consolidated financial statements | 1,280 |  |   | (88 | ) |   | 3 |  |
| Fair value of restricted stock unit awards on date of grant                                                                                                     | 1,068 |  |   | 1,489 |  |   | 1,263 |  |
| Fair value of restricted stock unit awards vested                                                                                                               | 621 |  |   | 2,359 |  |   | 905 |  |

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|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           | 2013 |   | 2012 |   | 2011 |
|                           | Units |   | WeightedAverageGrant DateFair Value |   | Units |   | WeightedAverageGrant DateFair Value |   | Units |   | WeightedAverageGrant DateFair Value |
| Nonvested at beginning of year | 39,945 |  |   | $ | 43.16 |  |   | 71,545 |  |   | $ | 36.95 |  |   | 70,894 |  |   | $ | 33.23 |  |
| Granted                        | 23,624 |  |   | $ | 45.19 |  |   | 29,839 |  |   | $ | 49.91 |  |   | 29,467 |  |   | $ | 42.86 |  |
| Vested                         | (15,525 | ) |   | $ | 40.01 |  |   | (60,320 | ) |   | $ | 39.11 |  |   | (26,937 | ) |   | $ | 33.61 |  |
| Surrendered                    | — |  |   | $ | — |  |   | (1,119 | ) |   | $ | 44.15 |  |   | (1,879 | ) |   | $ | 37.18 |  |
| Nonvested at end of year       | 48,044 |  |   | $ | 45.18 |  |   | 39,945 |  |   | $ | 43.16 |  |   | 71,545 |  |   | $ | 36.95 |  |

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | 2013 |   | 2012 |   | 2011 |
| Pre-tax compensation expense                          | $ | 960 |  |   | $ | 200 |  |   | $ | 200 |  |
| Shares of Company common stock issued under the plans | 18,256 |  |   | 4,055 |  |   | 4,540 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |
|                                | 2013 |   | 2012 |   | 2011 |
| Company stock issued under the plan | $ | 1,269 |  |   | $ | 1,244 |  |   | $ | 1,216 |  |

Note M

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|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | 2013 |   | 2012 |   | 2011 |
| Weighted average number of shares outstanding                        | 49,988,577 |  |   | 50,285,480 |  |   | 50,501,842 |  |
| Dilutive effect of stock-based arrangements                          | 550,370 |  |   | 596,711 |  |   | 689,593 |  |
| Weighted average number of diluted shares outstanding                | 50,538,947 |  |   | 50,882,191 |  |   | 51,191,435 |  |
|                                                                 |   |   |   |   |   |
| Net earnings attributable to CLARCOR Inc.                            | $ | 118,076 |  |   | $ | 122,986 |  |   | $ | 124,003 |  |
|                                                                 |   |   |   |   |   |
| Net earnings per common share attributable to CLARCOR Inc. - Basic   | $ | 2.36 |  |   | $ | 2.45 |  |   | $ | 2.46 |  |
| Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 2.34 |  |   | $ | 2.42 |  |   | $ | 2.42 |  |

|                                                                                                                                                        |
|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                        |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                                                                                   | 2013 |   | 2012 |   | 2011 |
| Number of antidilutive options with exercise prices greater than the average market price excluded from the computation of dilutive earnings per share | 125,135 |  |   | 508,167 |  |   | 60,000 |  |
| Common stock repurchased and retired pursuant to the Company's stock repurchase program                                                                | $ | 27,708 |  |   | $ | 37,320 |  |   | $ | 29,317 |  |
| Number of shares repurchased and retired pursuant to the Company's stock repurchase program                                                            | 534,100 |  |   | 792,881 |  |   | 683,776 |  |

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|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |
|                                | 2013 |   | 2012 |   | 2011 |
| Net sales:                          |   |   |   |   |   |
| Engine/Mobile Filtration            | $ | 507,024 |  |   | $ | 503,607 |  |   | $ | 510,012 |  |
| Industrial/Environmental Filtration | 549,746 |  |   | 541,364 |  |   | 523,026 |  |
| Packaging                           | 74,000 |  |   | 76,794 |  |   | 93,563 |  |
|                                | $ | 1,130,770 |  |   | $ | 1,121,765 |  |   | $ | 1,126,601 |  |
| Operating profit:                   |   |   |   |  |   |   |  |
| Engine/Mobile Filtration            | $ | 106,345 |  |   | $ | 111,653 |  |   | $ | 112,839 |  |
| Industrial/Environmental Filtration | 61,996 |  |   | 64,766 |  |   | 58,028 |  |
| Packaging                           | 6,275 |  |   | 6,295 |  |   | 10,400 |  |
|                                | 174,616 |  |   | 182,714 |  |   | 181,267 |  |
| Other income (expense), net         | (316 | ) |   | 283 |  |   | 41 |  |
| Earnings before income taxes        | $ | 174,300 |  |   | $ | 182,997 |  |   | $ | 181,308 |  |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |
|                                        | 2013 |   | 2012 |   | 2011 |
| Identifiable assets:                        |   |   |   |   |   |
| Engine/Mobile Filtration                    | $ | 397,545 |  |   | $ | 372,011 |  |   | $ | 338,197 |  |
| Industrial/Environmental Filtration         | 715,759 |  |   | 706,610 |  |   | 693,266 |  |
| Packaging                                   | 41,030 |  |   | 36,350 |  |   | 39,571 |  |
| Corporate                                   | 294,509 |  |   | 90,531 |  |   | 63,899 |  |
|                                        | $ | 1,448,843 |  |   | $ | 1,205,502 |  |   | $ | 1,134,933 |  |
| Additions to property, plant and equipment: |   |   |   |  |   |   |  |
| Engine/Mobile Filtration                    | $ | 19,809 |  |   | $ | 24,062 |  |   | $ | 11,406 |  |
| Industrial/Environmental Filtration         | 21,467 |  |   | 9,264 |  |   | 8,775 |  |
| Packaging                                   | 2,467 |  |   | 3,250 |  |   | 3,824 |  |
| Corporate                                   | 908 |  |   | 71 |  |   | 166 |  |
|                                        | $ | 44,651 |  |   | $ | 36,647 |  |   | $ | 24,171 |  |
| Depreciation and amortization:              |   |   |   |  |   |   |  |
| Engine/Mobile Filtration                    | $ | 10,488 |  |   | $ | 9,327 |  |   | $ | 9,325 |  |
| Industrial/Environmental Filtration         | 18,093 |  |   | 18,692 |  |   | 19,231 |  |
| Packaging                                   | 2,859 |  |   | 3,090 |  |   | 3,166 |  |
| Corporate                                   | 793 |  |   | 706 |  |   | 713 |  |
|                                        | $ | 32,233 |  |   | $ | 31,815 |  |   | $ | 32,435 |  |

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|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |  |  |  |  |
|                                                                   | 2013 |   | 2012 |   | 2011 |
| Net sales:                                                             |   |   |   |   |   |
| United States                                                          | $ | 778,952 |  |   | $ | 779,811 |  |   | $ | 775,987 |  |
| Europe                                                                 | 96,255 |  |   | 102,144 |  |   | 106,712 |  |
| Asia                                                                   | 103,030 |  |   | 98,880 |  |   | 95,363 |  |
| Other International                                                    | 152,533 |  |   | 140,930 |  |   | 148,539 |  |
|                                                                   | $ | 1,130,770 |  |   | $ | 1,121,765 |  |   | $ | 1,126,601 |  |
| Property, plant and equipment, at cost, less accumulated depreciation: |   |   |   |  |   |   |  |
| United States                                                          | $ | 183,166 |  |   | $ | 173,018 |  |   | $ | 164,712 |  |
| Europe                                                                 | 12,499 |  |   | 3,619 |  |   | 2,924 |  |
| Asia                                                                   | 2,702 |  |   | 8,013 |  |   | 7,561 |  |
| Other International                                                    | 10,586 |  |   | 10,451 |  |   | 9,795 |  |
|                                                                   | $ | 208,953 |  |   | $ | 195,101 |  |   | $ | 184,992 |  |

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | FirstQuarter |   | SecondQuarter |   | ThirdQuarter |   | FourthQuarter |
| 2013                                                                 |   |   |   |   |   |   |   |
| Net sales                                                            | $ | 256,271 |  |   | $ | 287,583 |  |   | $ | 289,126 |  |   | $ | 297,790 |  |
| Gross profit                                                         | 81,486 |  |   | 98,214 |  |   | 91,900 |  |   | 98,609 |  |
| Net earnings                                                         | 23,528 |  |   | 33,153 |  |   | 28,773 |  |   | 32,896 |  |
| Net earnings attributable to CLARCOR Inc.                            | 23,462 |  |   | 33,051 |  |   | 28,707 |  |   | 32,856 |  |
| Net earnings per common share attributable to CLARCOR Inc. - Basic   | $ | 0.47 |  |   | $ | 0.66 |  |   | $ | 0.57 |  |   | $ | 0.65 |  |
| Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 0.47 |  |   | $ | 0.66 |  |   | $ | 0.57 |  |   | $ | 0.65 |  |
| Dividends declared and paid per common share                         | $ | 0.1350 |  |   | $ | 0.1350 |  |   | $ | 0.1350 |  |   | $ | 0.1700 |  |
|                                                                 |   |   |   |   |   |   |   |
| 2012                                                                 |   |  |   |   |  |   |   |  |   |   |  |
| Net sales                                                            | $ | 257,264 |  |   | $ | 284,855 |  |   | $ | 286,733 |  |   | $ | 292,913 |  |
| Gross profit                                                         | 86,215 |  |   | 98,185 |  |   | 94,888 |  |   | 101,044 |  |
| Net earnings                                                         | 23,492 |  |   | 33,079 |  |   | 30,411 |  |   | 36,358 |  |
| Net earnings attributable to CLARCOR Inc.                            | 23,479 |  |   | 32,927 |  |   | 30,270 |  |   | 36,310 |  |
| Net earnings per common share attributable to CLARCOR Inc. - Basic   | $ | 0.47 |  |   | $ | 0.65 |  |   | $ | 0.60 |  |   | $ | 0.73 |  |
| Net earnings per common share attributable to CLARCOR Inc. - Diluted | $ | 0.46 |  |   | $ | 0.65 |  |   | $ | 0.60 |  |   | $ | 0.72 |  |
| Dividends declared and paid per common share                         | $ | 0.1200 |  |   | $ | 0.1200 |  |   | $ | 0.1200 |  |   | $ | 0.1350 |  |

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|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Column A                               |   | Column B |   | Column C |   | Column D |   | Column E |
|                                        |   |   |   | Additions |   |   |   |   |
| Description                                 |   | Balance atbeginning ofperiod |   | (1)Charged tocosts andexpenses |   | (2)Chargedto otheraccounts |   | Deductions |   | Balance atend ofperiod |
| 2013:                                       |   |   |   |   |   |   |   |   |   |   |
| Allowance for losses on accounts receivable |   | $ | 9,554 |  |   | $ | 1,863 |  |   | $ | (1,110 | ) | (A) | $ | (1,124 | ) | (B) | $ | 9,183 |  |
| 2012:                                       |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |
| Allowance for losses on accounts receivable |   | $ | 9,795 |  |   | $ | 1,029 |  |   | $ | (96 | ) | (A)  | $ | (1,174 | ) | (B) | $ | 9,554 |  |
| 2011:                                       |   |   |  |   |   |  |   |   |  |   |   |  |   |   |  |
| Allowance for losses on accounts receivable |   | $ | 11,428 |  |   | $ | (312 | ) |   | $ | 1,217 |  | (A) | $ | (2,538 | ) | (B) | $ | 9,795 |  |