Melrose Results Presentation Deck

Automotive - margin increased despite tough market Melrose ■ I Buy Improve Sell Adjusted¹ operating margin 1. 2018 Volume (excl. China) China Procurement cost reduction Significant structural cost reduction actions underway, business better placed Second half adjusted ¹ operating margin of 7.9% was higher than first half and higher than last year, further benefits expected from the full year impact of actions already taken On flat sales, adjusted¹ operating margin would have been approximately 8.5%, up a further 0.8 percentage points Other cost reduction actions Described in the glossary to the 2019 Preliminary Announcement, released on 5 March 2020 2019 19

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