Melrose Results Presentation Deck

Highlights Melrose Continuing operations Revenue Operating profit/(loss) Profit/(loss) after tax Diluted earnings per share Net debt¹ ■ ■ 2021 Actual rates £m 7,496 375 197 4.1p 950 1.3x Adjusted¹ results 2020 Constant currency¹ £m 7,351 122 Buy Improve Sell (36) (0.8)p 2,834 Actual rates £m 4.1x 7,723 141 (27) (0.6)p 2,847 4.1x Statutory results 2021 Actual rates £m Leverage¹ Group The results are ahead of expectations with better cash generation and a bigger reduction in net debt¹ and leverage¹ 6,883 (451) (446) (9.6)p n/a n/a 2020 Actual rates £m 7,132 (487) (565) (11.7)p 1. Described in the glossary to the Preliminary Announcement and considered by the Board to be a key measure of performance At constant currency, despite global supply challenges, sales were up 2% year on year and, notably, Group adjusted¹ operating profit tripled to £375 million, showing the substantial benefit of restructuring actions increasingly coming through n/a n/a The Group statutory operating loss was £451 million; of the £826 million adjusting items, only £200 million were cash items, almost all relating to restructuring projects All businesses returned to growth, with further benefits coming from restructuring actions. The Melrose businesses are actively working to mitigate the current inflationary pressures through all necessary means and remain fully committed to achieving their previously stated operating margin targets Melrose generated free cash flow¹ of £125 million in the year, prior to disposal proceeds, with net debt¹ reduced to £0.95 billion and leverage¹ to 1.3x adjusted¹ EBITDA. All businesses continued to be cash positive, therefore fully funding all their improvement and restructuring costs, with their cash generation qualities transformed since acquisition Working capital in the GKN businesses has reduced to 3% of sales from 5% at the GKN acquisition, with further opportunities existing to improve Aerospace inventory levels 4

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