Melrose Results Presentation Deck

Structures: results £m Melrose Revenue EBITDA EBITDA margin % Operating profit Operating margin % Driver Explanation H1 2023 progress Adjusted ¹ results H1 2023 1. 2. 1,025 72 7.0% 26 Path to 9% target margin in 2025 2.5% Growth vs H1 2022 18% 2 2.8ppts 92% 1 3.6ppts n/a ■ I ■ · Sales growth of 18%2 as customer deliveries ramp-up despite supply chain constraints Structures division profitable after loss-making H1 2022 Benefits of revised pricing arrangements and operational gains beginning to take effect, more to come Restructuring plans advanced and yielding benefits Very strong demand and backlogs building; new widebody orders returning Civil ramp-up Positive impact of narrowbody (A320 & B737) and widebody (A350 & B787) recovery On track; constrained by OEMs supply chain challenges (2) Defence repricing and rationalisation Repricing and right-sizing portfolio and focus on increased design-to-build work Ahead of plan with further 25% of required renegotiations completed Described in the glossary to the 2023 Interim Financial Statements and considered by the Board to be a key measure of performance At constant currency and excluding businesses being exited 3 Restructuring and operations Significant footprint consolidation and improvements in quality and scrap On track for two further closures before year-end 22

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