Melrose Mergers and Acquisitions Presentation Deck

Demerger recap Melrose Strong market positions Good underlying demand Margin expansion trajectory Proven cash generation Acquisition opportunities Buy Improve Sell ■ ■ ■ ■ ■ ■ ■ ■ Melrose (Aerospace) Leading global tier one supplier on major civil and defence platforms Attractive engine contracts with excellent long-term cash flows Civil market recovery well underway; positive mix with repair and aftermarket expansion Expected revenue CAGR of 7% to 2030; faster growth to 2025 Clear path to recently announced target operating margin for Aerospace of 14%+ All required restructuring to achieve margin target will be substantially complete by the end of 2023 Excellent cash flow dynamics, business has been cash positive since acquisition Secured aftermarket cash flow from engines RRSPs of £18.5 billion Continuing successful "Buy, Improve, Sell" strategy to create shareholder value Ability to proactively pursue opportunities in aerospace and beyond I ■ ■ ■ ■ ■ Automotive (DemergerCo) #1 in Driveline with ICE, hybrid and EV technology leadership; supplies 90% of OEMs #1 in supply of precision powder metal parts and #2 in global powder metal production Significant pent-up demand after 18 months of semi-conductor shortages Electrification provides incremental growth in existing core products and new EV solutions On track to achieve target operating margins for Automotive of 10%+ and Powder Metallurgy of 14% Required restructuring to achieve operating margin targets will be complete this year Strong cash flow dynamics with both businesses having been cash positive since acquisition Cash generation qualities transformed with rigorous working capital practices Independent access to capital to pursue value enhancing automotive M&A opportunities Consolidation opportunities within the automotive sector to be explored Compelling equity story for both future businesses 38

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