Melrose Results Presentation Deck

Aerospace: highlights Melrose Well positioned to benefit from ongoing market recovery Civil market anticipated to continue to improve throughout 2022; narrowbody recovery faster than widebody Working closely with customers, well prepared for Airbus and Boeing production ramp-up, especially A320 and B737 MAX Targeting and winning opportunities in business jets, urban air mobility and sub-regional electric aircraft - exciting growth potential I ■ I Excellent momentum towards margin target on significantly restructured cost base Significant margin progression in 2021 despite flat¹ sales; on track to 12% ² target operating margin Operational improvements in quality (customer quality issues down 32%) and delivery (past due down 13%) Extensive restructuring underway with wide range of projects approved - Defence remains area requiring most work, especially in US Ongoing footprint rationalisation on track in Europe, significant new projects started in US Recently announced closure of St Louis plant, exiting c.£140 million less profitable defence work Sold non-core, low margin businesses in The Netherlands; renegotiated or exited some unattractive business with more to follow Selective bidding, focused on higher margin "design to build" positions and growth in attractive aftermarket and repair Engines RRSPs³ and aftermarket set to generate good margins and very strong cash flows as flying hours increase I I I I I I Excellent cash generation, working capital tightly managed Strong cash performance with 124% cash conversion before capex Further reductions in inventory levels - targeting additional £50 million gains I Technology development to drive sustainable future of flight Progress on core technology including additive manufacturing, fan blade repair, composites and Wing of Tomorrow design Major contributor to next generation aircraft including electric and hydrogen platforms ■ I Buy Improve Sell 1. Based on existing businesses at 31 December 2021 - 23 10% margin target on a partial market recovery and 12% margin target on a recovery to pre-COVID-19 revenue 3. Risk and revenue sharing partnerships 2. 26

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