Answer
Since the net external torque is zero, hence the angular momentum of the cat would remain conserved. So, while the cat falls it stretches out it's legs as can be seen in the figure, which increases its moment of inertia and slows down the angular speed. Hence, rate of rotation slows down enough for the cat to fall on the ground on its feet.
Work Step by Step
Since the net external torque is zero, hence the angular momentum of the cat would remain conserved. So, while the cat falls it stretches out it's legs as can be seen in the figure, which increases its moment of inertia and slows down the angular speed. Hence, rate of rotation slows down enough for the cat to fall on the ground on its feet.