Melrose Mergers and Acquisitions Presentation Deck

Active management in challenging markets Offsetting inflation Managing supply chain Accelerating restructuring Melrose Buy Improve Sell ■ Aerospace Fully offset YTD; initiatives underway to mitigate future risk Industry impacted by wider challenges especially in the engines market; GKN deliveries under control All required projects to hit 14%+ operating margin target now largely underway; accelerating completion to end of 2023 ■ Automotive Partially offset YTD; with unrecovered £30 million in H1 due to time lag; will be fully offset by year end Semi-conductors and China lockdown constrained H1; supply chain issues starting to ease All required projects to hit 10%+ operating margin target complete by end of 2022 E ■ Powder Metallurgy Fully offset YTD; raw material price surcharge mechanisms in place Semi-conductors constrained automotive market in H1; supply chain issues starting to ease All required projects to hit 14% operating margin target complete by end of 2022 Selectively invested c.£200 million in working capital in H1 to support upcoming growth, mitigate supply chain issues and deliver plant rationalisation Continued investment for future growth with promising opportunities in sustainable aviation, electric vehicles, additive manufacturing and hydrogen 25

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