Financial Performance and Guidance

DEFENCE Underlying results £m 2023 2022 Organic Change Organic Change % KEY POINTS ROLLS R ROYCE Double digit revenue growth Commercial optimisation with the implementation of value based pricing Efficiency and strategic actions drive lower indirect costs • Submarines volume growth Revenue 4,077 3,660 +428 12% . Gross profit 804 726 +78 11% Gross margin % 19.7% 19.8% (0.1)pts Operating profit 562 432 +130 30% Operating margin % 13.8% 11.8% +1.9pts Trading cash flow 511 426 +85 20% UNDERLYING REVENUE SPLITS 57% 43% ■ OE Services 8% 14% 22% 5% 8% 31% ORDER INTAKE ORDER BACKLOG £5.2bn £9.2bn Transport ■Combat Submarines 3% 18% 20% Book-to-bill ratio 1.3x +8% ■Naval 34% Helicopters 2% 15% ©2024 Rolls-Royce Not Subject to Export Control 24

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