Financial Table of Contents Management’s Discussion and Analysis 18 Consolidated Statements of Income 34 Consolidated Balance Sheets 35 Consolidated Statements of Cash Flows 36 Consolidated Statements of Shareowners’ Equity 37 Notes to Consolidated Financial Statements 38 Selected Quarterly Financial Data 59 Report of Management 60 Report of Audit Committee 60 Reports of Independent Accountants 61 Eleven-Year Financial Highlights 62 Corporate Officers 64 Board of Directors 65 KENNAMETAL INC.  / AR 2002 17