Exhibit 99.2

Federal Signal Q4 2009 Earnings Call Bill Osborne & Bill Barker February 23, 2010

2 Headlines Reported Q4 EPS, Con't Ops = $0.18 vs. $0.06 in 2008 Overhead Costs Reduced $30 Million in 2009 Strong Cash Flow from Operations for the year $58 million vs. $(7 million) in 2008 Primary Working Capital Reduced $28 million Net Debt Reduced $65 Million in 2009 Over $160 million of global liquidity available at year-end Double-Digit Q4 Operating Margins in Safety & Security and Fire Rescue Groups

3 Q4 Income Comparison

4 Q4 Results

5 FY Income Comparison

6 Cash Flow Summary

7 Balance Sheet

Federal Signal Q4 2009 Earnings Call Bill Osborne & Bill Barker February 23, 2009