Melrose Results Presentation Deck

Cash generation qualities of all the businesses transformed Melrose 8. Each business has been cash positive since acquisition Buy Improve Sell Aerospace £0.6bn 1. Cash generation (post restructuring) since GKN acquisition Powder Metallurgy £0.4bn Automotive £0.7bn Other £0.7bn Total There are further opportunities existing to reduce Aerospace inventory levels £2.4bn (£0.9bn) (£0.5bn) £1.0bn Interest & tax Group pension contributions All businesses have been cash positive on a stand alone basis with their cash generation qualities transformed since acquisition Working capital in the GKN businesses has been reduced from 5% of sales at acquisition to 3% Described in the glossary to the Preliminary Announcement and considered by the Board to be a key measure of performance Free cash flow¹ Restructuring spend of £0.7 billion since owning GKN, showing continued investment £1 in every £3 of free cash flow¹ since acquisition being paid into the Group's pension schemes, looking after all stakeholders 15

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