Melrose Results Presentation Deck

Cash generation in the period: net debt significantly reduced Melrose Free cash flow ² Cash flow from continuing operations £m Adjusted¹ EBITDA Lease obligation payments Positive non-cash impact from loss-making contracts Reduction in working capital Adjusted operating cash flow (pre-capex)² Net capital expenditure Net interest and tax paid Defined benefit pension contributions - ongoing contributions Dividend income from equity accounted investments Trading net other Adjusted free cash flow ² Restructuring Free cash flow 2 ■ I I I Group 2021 404 (29) (23) 6 Buy Improve Sell 358 (104) (113) (12) 26 1. 2. 3. 12 167 (92) 75 Reconciliation of opening to closing net debt² Reconciliation of net debt² £m Net debt² brought forward Net cash flow from acquisition and disposal related activities ³ Free cash inflow in the Period Discontinued operations Payments to shareholders Foreign exchange and other Net debt² at 30 June 2021 Proforma net debt reconciliation £m Net debt2 at 30 June 2021 Return of Capital (15 pence per share) Proforma net debt at 30 June 2021 A further £56 million free cash flow2 was generated from discontinued businesses in the Period Melrose continues to reduce net debt² whilst still investing in the businesses Net debt² of £300 million at closing exchange rates of US $1.38 and €1.16 Adjusted free cash flow2 from continuing operations of £167 million, 43% higher than 2020 for these businesses, prior to £92 million of restructuring costs Group 2021 (2,847) 2,401 75 56 (36) 51 (300) (300) (729) (1,029) Calculated excluding EBITDA from equity accounted investments Described in the glossary to the 2021 Interim Financial Statements, released on 2 September 2021 Includes tax paid of £32 million following the extraction of Ergotron and Nortek Control from the Nortek tax group and specific pension contributions of £39 million paid prior to 18 the disposals of Nortek Air Management and Brush

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