Melrose Results Presentation Deck

Melrose key financial numbers: Balance Sheet currently more conservative than normal Melrose 5. The Melrose Balance Sheet has spare capacity for a further significant Return of Capital next year I ■ I Net debt¹ Actual June 2021 £300m Buy Improve Sell Proforma ¹ June 2021 (post Return of Capital) £1,029m 0.5x leverage ¹ 1.5x leverage ¹ Current proforma¹ position Melrose life time average Potential size of Capital Return next year based on various leverage scenarios (uses H1 2021 x 2 profits)² Leverage ¹ 1.5x 1.75x 2.0x 2.25x 2.5x £m 180 380 580 780 980 Pence per share ³ The Melrose Balance Sheet is currently more conservative than the life time average of 2.0x to 2.5x leverage ¹ Net debt¹ at 30 June 2021 significantly reduced to £300 million, leverage ¹ of 0.5x EBITDA Proforma net debt¹ at 30 June 2021 is £1,029 million and Proforma leverage¹ at 30 June 2021 is 1.5x post announced Return of Capital 1. Described in the glossary to the 2021 Interim Financial Statements, released on 2 September 2021 2. Calculated using H1 adjusted EBITDA for leverage covenant purposes, for the continuing Group of £403 million 3. Calculated using the number of shares in issue following the Return of Capital and associated share consolidation (4,372 million) 4p 9p 13p 18p 23p 12

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