Melrose Results Presentation Deck

Foreign exchange forward looking Melrose Exchange rates Average rates Closing rates Income Statement volatility - Translational impact Impact on adjusted ¹ operating profit of a 10% strengthening² of: £m EUR Movement in adjusted¹ operating profit % impact on adjusted ¹ operating profit ■ I USD Buy Improve Sell 29 6% 11 2% USD H1 2021 1.39 1.38 CNY 8 2% EUR 1.15 1.16 Other³ 12 2% H1 2020 USD 1.26 1.24 1. Described in the glossary to the 2021 Interim Financial Statements, released on 2 September 2021 2. 10% strengthening against all currencies 3. Assuming all other currencies strengthen against Sterling by 10% at the same time EUR 1.14 1.10 FY 2020 Increase in debt USD 1.28 1.37 EUR 1.13 1.12 Balance Sheet volatility Impact on debt of a 10% strengthening² of: £m USD 85 EUR Transactional FX hedges taken out to provide appropriate short and medium-term cover: Next 12 months: c.90% covered 12 to 24 months: c.60% to 80% covered Group debt drawn in UK, US and Euro currencies to protect leverage, based on a mix of approximately 52% USD, 28% EUR and 20% GBP 47 38

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