Melrose Mergers and Acquisitions Presentation Deck
Key point 6: UK pension schemes now fully funded
Melrose
6. GKN UK pension schemes in surplus; commitment delivered ahead of schedule
Buy
Improve
Sell
1.
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3.
At GKN acquisition
(2018)
81% funded¹ at
acquisition
At 30 June 2022
116% funded¹
Melrose
(Aerospace)
116% funded ¹
Automotive Group²
(DemergerCo)
IFRS accounting funding level
Comprises the Automotive, Powder Metallurgy and Hydrogen group of businesses
Excludes GKN UK Post Retirement Medical Scheme
116% funded¹
GKN UK pension schemes³ funding level transformed into an accounting surplus of £292 million; split broadly two thirds
Aerospace, one third Automotive Group²
Both new Groups are 116% funded on an accounting basis at 30 June 2022 and are legally aligned to the businesses
Ongoing funding of £15 million per annum into both Aerospace and Automotive Group² schemes
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