Melrose Results Presentation Deck

Powder Metallurgy: highlights Melrose £m Revenue EBITDA EBITDA margin % Operating profit Operating margin % I I ■ ■ 2020 Adjusted¹ results 905 110 12.2% 39 Buy Improve Sell 4.3% 1. 2. 3. 4. Growth² (18%) (40%) -4.5 ppts (67%) -6.3 ppts H2 2020 Adjusted¹ results 509 77 15.1% 42 8.3% H2 2020 Year on year growth² (3%) (8%) -0.9 ppts (16%) -1.3 ppts Strong ongoing cost management to mitigate lower sales and reposition for future Immediate COVID-19 response fully completed Permanent headcount reduction in US due to lower sales Segment Highlights Strong performance and trajectory out of crisis - H2 margins recovering to 8.3% as sales return Excellent cash performance with £109 million positive inflow³, 156% cash conversion4 pre-capex Working capital reduction sustained as volumes increased in Q4 Precision Structural Described in the glossary to the 2020 Preliminary Announcement, released on 4 March 2021 Growth is calculated at constant currency against 2019 results Adjusted operating cash flow (post-capex) Adjusted operating cash flow conversion (pre-capex) Powder Additive Comments Growing sales and market share • Attractive margins, advanced technology • More commoditised products • Exiting unattractive contracts • Produces powders for GKN and 3rd parties Drive towards greater automation continues at pace Focus on differentiated higher margin business is paying off: enhances margins, utilises technological advantages and reduces reliance on larger structural automotive ICE components Exciting opportunities in additive manufacturing and hydrogen storage technology • Moving into serial production, building scale Quality of earnings improving with clear pathway to 14% margins 25

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