Slide 1: Third Quarter 2025 Earnings Presentation
THIRD QUARTER 2025 EARNINGS PRESENTATION NOVEMBER 10, 2025 1
Slide 2: Disclaimer – Forward Looking Statements & Non-GAAP Disclosure
DISCLAIMER – FORWARD LOOKING STATEMENTS & NON-GAAP DISCLOSURE This presentation contains forward-looking statements that involve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Sect
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS Q3 2025 Q3 PERFORMANCE DRIVERS YTD 2025 $4,462 Strong Top Line Growth $1,498 + Commercial Aerospace: +18% YoY +20.4% +16.6% + Military & Helicopter: +21% YoY YoY2 $3,828 YoY2 $1,245 + Business Aviation: +28% YoY $598 Margin Performance +16.1% +18.6% $504 YoY2 $196 Strong mix p
Slide 4: Business Highlights
BUSINESS HIGHLIGHTS MARKET ENVIRONMENT EXECUTING ON 2025 STRATEGIC PRIORITIES Continuing Aftermarket Strength Robust commercial aero demand Continued growth on key business jet and military platforms Supply chain challenges persist RAISING 2025 GUIDANCE Capitalize on Expansion of Pursue Revenu
Slide 5: Third Quarter 2025 Results – Consolidated
THIRD QUARTER 2025 RESULTS – CONSOLIDATED ($ in millions) Q3 2025 Performance Commentary Growth across end markets: Commercial Aerospace (+18% YoY), Military & Helicopter (+21% YoY), Revenue $1,498 and Business Aviation (+28% YoY) % Change YoY +20.4% Growth in both Engine Services (+21% YoY) and
Slide 6: Third Quarter 2025 Results – Engine Services
THIRD QUARTER 2025 RESULTS – ENGINE SERVICES Q3 2025 QUARTERLY HIGHLIGHTS YTD 2025 $1,322 $3,941 +21.3% YoY Revenue growth +21.3% Commercial aftermarket demand strong YoY2 +15.9% $1,090 LEAP revenues nearly doubled QoQ YoY2 Continued ramp of CFM56 DFW facility $3,399 HTF7000 business aviat
Slide 7: Third Quarter 2025 Results – Component Repair Services
THIRD QUARTER 2025 RESULTS – COMPONENT REPAIR SERVICES Q3 2025 QUARTERLY HIGHLIGHTS YTD 2025 $521 +13.9% YoY Revenue growth $176 +21.7% +13.9% Growth accelerating on new commercial engine $428 YoY $154 YoY platforms Robust growth on land & marine platforms ATI acquisition contribution +37.7%
Slide 8: Free Cash Flow
FREE CASH FLOW COMMENTARY Sequential Free Cash improvement vs prior quarter, in-line with expectations ($ in millions) Q3 2025 1 Strong earnings offset by working capital increase (nearly half from Adjusted EBITDA $196 growth platforms), with supply chain challenges elevating Contract Assets (up
Slide 9: Balance Sheet & Liquidity
BALANCE SHEET & LIQUIDITY SIGNIFICANTLY STRENGTHENED NET DEBT TO ADJUSTED EBITDA LEVERAGE RATIO1 BALANCE SHEET Leverage ratio improved to 2.9x, driven by organic Adjusted EBITDA growth 5.3x Second quarter in a row <3x Target Benefiting from refinancing of capital structure 2.0-3.0x 2.9x Ampl
Slide 10: FY 2025 Company & Segment Outlook
FY 2025 COMPANY & SEGMENT OUTLOOK ($ in millions) Prior FY 2025 Current FY 2025 Commentary Revenue $5,875 – $6,025 $5,970 - $6,030 Engine Services: $5,270 - $5,310 % Change YoY +12% to +15% +$50 MM +14% to +15% Component Repair Services: $700 - $720 Adjusted ES: ~13.2% Adj. EBITDA Margin $790
Slide 11: Appendix
APPENDIX 11
Slide 12: Reconciliation of Non-GAAP Financial Metrics
RECONCILIATION OF NON-GAAP FINANCIAL METRICS ADJUSTED EBITDA AND ADJUSTMENTS WALK Three Months Ended September 30, 2025 2024 (in millions, except percentages) Net income $68.1 $16.4 Income tax expense 24.7 0.2 Depreciation and amortization 48.1 47.1 Interest expense 44.6 79.9 (1) Business transforma
Slide 13: Segment Disclosure
SEGMENT DISCLOSURE SEGMENT ADJUSTED EBITDA Three Months Ended September 30, 2025 2024 (in millions, except percentages) Engine Services Segment Revenue $1,322.2 $1,090.3 Segment Adjusted EBITDA $165.4 $147.4 Segment Adjusted EBITDA Margin 12.5% 13.5% Component Repair Services Segment Revenue $175.8
Slide 14: Segment Disclosure (Continued)
SEGMENT DISCLOSURE (CONTINUED) SEGMENT REVENUE AND SEGMENT ADJUSTED EBITDA TO PROFIT BEFORE TAX WALK Three Months Ended September 30, 2025 Three Months Ended September 30, 2024 Component Component Engine Total Engine Total Repair Repair Services Segments Services Segments Services Services (In thous
Slide 15: Reconciliation of Net Debt and Net Debt to Adjusted EBITDA Leverage Ratio
RECONCILIATION OF NET DEBT AND NET DEBT TO ADJUSTED EBITDA LEVERAGE RATIO Three Months Ended September 30, 2025 2024 (in millions, except percentages) New 2024 Term Loan Facilities $2,233.1 $ --- New 2024 Revolving Credit Facility 110.0 --- Prior 2024 Term Loan Facilities --- 2,947.8 Prior ABL Credi
Slide 16: Free Cash Flow Disclosure
FREE CASH FLOW DISCLOSURE RECONCILIATION OF FREE CASH FLOW Three Months Ended September 30, 2025 2024 (in millions) Cash Flow from Operations $14.8 $(13.8) Purchase of Property, Plant and Equipment (19.4) (25.3) Proceeds from Disposal of Property, Plant and Equipment 0.7 0.1 (-) Total Capital Expend