Melrose Results Presentation Deck

Aerospace: positive earnings momentum Full-year revenue² Melrose Adjusted ¹ operating margin (%) 10.6% 2019 £3.4b Buy Improve 1. Sell 2. 1 0.5% 2020 £2.4b 2 4.4% 2021 £2.3b 3 6.3% 2022 £2.7b 14% + Target 1 2 3 4 Achieved breakeven on 27% lower sales ■ Immediate actions to reduce costs based on lower demand Delivered 390bps operating margin expansion on broadly flat sales Accelerated restructuring and focused cost reduction ■ Margin expansion of 190bps on 11% sales growth Ramping up production while overcoming challenging supply chain Extensive restructuring and operational improvements underway W " Clear path to 14% + operating margin target Increased confidence in market recovery, platform position and business improvements ▪ Encouraging pace of impacts expected to read through ■ On track to achieve margin target with increased pace Described in the glossary to the Preliminary Announcement and considered by the Board to be a key measure of performance Total revenue adjusted for divestments of Fokker Services, Fokker Techniek and Santa Ana and the future site closure of St Louis 23

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