Melrose Results Presentation Deck

Highlights Melrose Continuing operations² Revenue Operating profit/(loss) Profit/(loss) before tax Diluted earnings per share ■ ■ ■ H Buy Improve Sell Adjusted¹ results 2019 £m 11,592 1,102 1. 2. 3. 4. 889 5. 14.3p 2018 £m 8,645 in 2018. 2018 annualised adjusted free cash flow includes 12 months of GKN ownership Including the contribution paid on 6 January 2020 813 672 12.7p Statutory results 2019 £m 10,967 318 106 The results for 2019 were comfortably ahead of the Board's expectations for both profit and cash generation Adjusted¹ diluted earnings per share ("EPS") were 14.3 pence, up 13% on last year (statutory EPS: 0.9 pence) and adjusted free cash flow was £591 million, up 72% 4 on an annualised like-for-like basis Group net debt and leverage have both been improved and were reduced to £3.28 billion and 2.25x respectively Net trade working capital in the Group was reduced by £95 million (5%) in the year, with adjusted profit conversion to cash¹ of 104%. More progress in net trade working capital to come, in line with achieving the previously announced £400 million target within the Melrose ownership period 0.9p Loss-making contracts have been improved materially with the losses from 2018 reducing by 11% in 2019. In addition, c.25% of the remaining provision has been released (as previously stated this release is not included in adjusted¹ operating profit) due to improvements implemented by management this year. These improvements impact future trading in GKN positively 2018 £m 8,152 The GKN UK defined benefit pension schemes are significantly better funded, aided by over £240 millions of cash contributions from the Group so far during Melrose ownership, fully in line with the plan agreed with the Trustees. Along with better investment returns, the remaining contributions required to make these schemes well funded has reduced from up to £1 billion at acquisition to c.£500 million (387) (542) (11.8)p Described in the glossary to the 2019 Preliminary Announcement, released on 5 March 2020 Results for 2018 include GKN for 8 months only and have been restated for discontinued operations Adjusted free cash flow excludes the special one-off pension contributions and restructuring spend Calculated compared to 2018 annualised adjusted free cash flow, excluding the previously announced £150 million cash outflow from unwinding creditor stretch 3

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