Melrose Results Presentation Deck

Dowlais¹: overview Adjusted ² results pre-PLC costs Continuing operations £m Melrose Automotive Powder Metallurgy Other Industrial Total Automotive Powder Metallurgy ■ ■ 2022 Revenue 4,211 1,022 Buy Improve 1. Sell 2. 1 5,234 2022 Operating profit/(loss) 250 96 (14) 332 2022 Operating margin 5.9% 9.4% 6.3% 2021 Revenue 3,745 975 4,720 2021 Operating profit/(loss) 172 91 (7) 256 2021 Operating margin 4.6% 9.3% 5.4% Sales growth of 9%, boosted by material surcharges and inflation recovery; volumes up 4% on 2021 38% increase of operating profit, margins up 130bps to 5.9% as benefits from business improvements are realised Very strong bookings - over £5 billion, book-to-bill ratio 128%, pure EVs at 42% of bookings Flat sales with material surcharges and inflation recovery; volumes down 5% Strong operational performance driving higher profits and improved profitability despite lower volume Good progress in electrification with new EV component wins and eMagnet development Strong cash generation from disciplined working capital management Hydrogen business in start-up phase with a healthy commercial pipeline and operating pilots across the globe Strong margin progression from good operational performance and restructuring, inflation headwinds fully offset Comprises the Automotive, Powder Metallurgy and Hydrogen businesses Described in the glossary to the Preliminary Announcement and considered by the Board to be a key measure of performance 19

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