Melrose Results Presentation Deck

Structurally growing market ■ Flight hours returning strongly Million 250 200 150 100 50 0 2018 2019 Source: Cirium 2020 Melrose 2021 23-25 CAGR: 10% 2022 2023 2024 2025 2026 2027 Narrowbody ■Widebody In H1 2023, domestic available seat kilometres were at 106% of 2019, international at 84% 2028 Full recovery expected during 2023 with strong structural growth thereafter 2029 ■ Global air travel (revenue passenger kilometres) 94% of 2019 levels with domestic travel surpassing 2019 levels by 5% 1. Estimated US defence budget 2030 2,500 OEM deliveries ramping up fast 2,000 1,500 1,000 ■ ■ 500 0 Source: Teal bol 2018 23-25 CAGR: 15% 2019 2020 2021 2022 2023 Narrowbody 2024 2025 2026 ■Widebody 2027 2028 ■ Civil backlog of >12,000 aircraft, underpinned by A320 and B737 2029 Airline demand for new aircraft increasing as flight hours ramp-up on ageing fleet Airbus net new orders increased fourfold versus H1 2022, Boeing more than doubled OEM ramp-up underway, still constrained by supply chain issues 2030 $bn Defence spending increasing¹ 1,000 ■ ■ 800 600 400 200 0 2019 2020 2021 Source: Statista 2022 23-25 CAGR: 5% 2023 2024 2025 2026 2027 2028 2029 ■ US State Department has approved Foreign Military Sales c.40% up year-on-year 2030 EU spend rising in response to Ukraine conflict; NATO countries stepping up to 2% of GDP commitment F-35 near full production phase, with 156/year rate and slots being booked into 2030s ▪ Development of new platforms such as US Army helicopter, Bell V-280 14

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