Melrose Results Presentation Deck

Aerospace: highlights Melrose £m Revenue EBITDA EBITDA margin % Operating profit Operating margin % ■ ■ I Buy Improve Sell 2020 Adjusted¹ results 2,804 163 1. 2. 3. 4. 5.8% 14 0.5% Highlights Aerospace markets significantly impacted by COVID-19 Civil business down 40% in 2020 due to lower build rates and flying hours since March Defence remains strong - sales up 8% in 2020 Overall H2 sales down 36% and civil market not expected to fully recover in short to medium term Excellent cash performance with £194 million positive inflow³, 328% cash conversion 4 pre-capex Good progress on resolving loss-making contracts and inventory reduction in 2020 - further improvements to come Restructuring actions proceeding at pace Significant opportunity to improve margins through improved productivity and quality Clear path to improved profitability and over the medium-term to a 10% operating margin without full market recovery Investment in technology has been maintained and focused on sustainable aviation alternative power Growth² (27%) (72%) -9.2 ppts (97%) -10.1 ppts H2 2020 Adjusted¹ results 1,224 29 2.4% (40) (3.3%) H2 2020 Year on Year Growth² Described in the glossary to the 2020 Preliminary Announcement, released on 4 March 2021 Growth is calculated at constant currency against 2019 results Adjusted operating cash flow (post-capex) Adjusted operating cash flow conversion (pre-capex) (36%) (90%) -13.2 ppts (119%) -14.3 ppts 19

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