Slide 1: FY 2026 Q2 Earnings Call
FY 2026 Q2 Earnings Call May 5, 2026
Slide 2: Agenda
Agenda TransDigm Overview, Highlights and Outlook Mike Lisman CEO Market Review Joel Reiss Co-COO Operating Performance and Financial Results Sarah Wynne CFO Q&A 1
Slide 3: Forward Looking Statements & Special Notice Regarding Pro Forma and Non-GAAP Information
Forward Looking Statements & Special Notice Regarding Pro Forma and Non-GAAP Information FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including information regarding our guidance for futur
Slide 4: TransDigm Overview
TransDigm Overview Distinguishing Characteristics Highly engineered aerospace components Significant aftermarket content Proprietary products High free cash flow Proprietary Revenues (1) Pro Forma Revenues (1) Pro Forma EBITDA As Defined (1) Non- Proprietary Comm OEM OEM 25% Defense 43% Comm
Slide 5: 2026 Q2 Financial Performance by Markets – Pro Forma
2026 Q2 Financial Performance by Markets – Pro Forma Highlights Q2 Review – Pro Forma Revenues⁽¹⁾ 35% Biz Jet/Heli Actual vs. Prior Year Q2 YTD Commercial OEM: 65% Com Transport Q2 ’26 Commercial Transport Revenue Up 19% Commercial OEM: Up 12% Up 14% Q2 ’26 Business Jet/Helicopter Revenue Up 1%
Slide 6: Second Quarter 2026 Select Financial Results
Second Quarter 2026 Select Financial Results ($ in millions, except per Organic growth 11% share amounts) • Driven by double-digit growth in all 3 major market channels • Offset by lower Non-Aero growth Q2 FY 2026 Q2 FY 2025 Revenue $2,544 $2,150 18.3% Increase Gross Profit $1,511 $1,274 • Applicati
Slide 7: Fiscal 2026 Outlook
Fiscal 2026 Outlook Market Growth Assumptions FY 2025 Pro Forma Revenue Mix (1) Market FY 2026 Expected Growth 25% Commercial OEM Low Double-Digit to Mid-Teens % Range 32% Commercial Aftermarket High Single-Digit to Low Double-Digit % Range 43% Defense High Single-Digit % Range Guidance Summary ($ i
Slide 8: Fiscal 2026 Select Financial Assumptions
Fiscal 2026 Select Financial Assumptions Select Financial Assumptions for Fiscal 2026 Prior Assumptions (Issued February 2026) Updated Assumptions Capital Expenditures $280 to $310 million No change Full Year Net Interest Expense ≈ $1.90 billion (includes $60 million of interest ≈ $2.02 billion (inc
Slide 9: Reconciliation of Fiscal 2026 Outlook
Reconciliation of Fiscal 2026 Outlook ($ in millions, except per share amounts) FY 2026 Guidance Midpoint Net income $ 2,066 Adjustments: Includes approx. $38m Depreciation and amortization expense 438 of backlog amortization Interest expense - net 2,020 Income tax provision 635 EBITDA 5,159 Adjustm
Slide 10: Reconciliation of GAAP EPS to Adjusted EPS - Guidance
Reconciliation of GAAP EPS to Adjusted EPS - Guidance Full Year Guidance Thirteen Week Periods Ended Twenty-Six Week Periods Ended Mid-Point March 28, 2026 March 29, 2025 March 28, 2026 March 29, 2025 September 30, 2026 GAAP earnings per share $ 9.20 $ 8.24 $ 15.82 $ 15.86 $ 34.60 Adjustments to ear
Slide 11: Capital Structure
Capital Structure Capital Structure ($ in millions) Actual Pro forma (1) 3/28/26 Adj. 3/28/26 Rate Cash $3,884 $1,500 $5,384 $910mm revolver – – – S + 2.250% $725mm AR securitization facility 725 – 725 S + 1.350% First lien term loan J due 2031 3,587 – 3,587 S + 2.500% First lien term loan K due 203
Slide 12: Interest Rate Sensitivity
Interest Rate Sensitivity • Interest rates on TDG’s $33.7Bn of gross Debt is ~ 75% hedged/fixed rate through fiscal year 2029 • Achieved via a combination of interest rate caps, swaps and collars • Significantly reduces near-term exposure to any variable rate increases (1) FY 26 Weighted Average Var
Slide 13: Debt Maturity Profile
Debt Maturity Profile Debt Maturity Profile ($MM) $7,000 Secured Term Loans $6,000 $5,000 Secured Notes $4,000 Sr Sub Notes $3,000 $2,000 $1,000 $0 Calendar Year 2026 2027 2028 2029 2030 2031 2032 2033 2034 Note 1: Includes $1.5B incremental debt raised in April 2026 Note 2: $910M Revolver matures i
Slide 14: Appendix: Reconciliation of Net Income to EBITDA and EBITDA As Defined
Appendix: Reconciliation of Net Income to EBITDA and EBITDA As Defined ($ in millions) Thirteen Week Periods Ended Twenty-Six Week Periods Ended March 28, 2026 March 29, 2025 March 28, 2026 March 29, 2025 Net Income $ 536 $ 479 $ 981 $ 972 Adjustments: Depreciation and amortization expense 105 89 20
Slide 15: Appendix: Reconciliation of Reported EPS to Adjusted EPS
Appendix: Reconciliation of Reported EPS to Adjusted EPS ($ in millions, except per share amounts) Thirteen Week Periods Ended Twenty-Six Week Periods Ended Reported Earnings Per Share March 28, 2026 March 29, 2025 March 28, 2026 March 29, 2025 Net income $ 536 $ 479 $ 981 $ 972 Less: Net income att
Slide 16: Appendix: Reconciliation of Net Cash Provided by Operating Activities to EBITDA and EBITDA As Defined
Appendix: Reconciliation of Net Cash Provided by Operating Activities to EBITDA and EBITDA As Defined ($ in millions) T Twenty-Six Week Periods Ended March 28, 2026 March 29, 2025 Net cash provided by operating activities $ 967 $ 900 Adjustments: Changes in assets and liabilities, net of effects fro