Slide 1: FY 2026 Q1 Earnings Call
FY 2026 Q1 Earnings Call February 3, 2026
Slide 2: Agenda
Agenda TransDigm Overview, Highlights and Outlook Mike Lisman CEO Market Review Patrick Murphy 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 Q1 Financial Performance by Markets – Pro Forma
2026 Q1 Financial Performance by Markets – Pro Forma Highlights Q1 Review – Pro Forma Revenues⁽¹⁾ 35% Biz Jet/Heli Actual vs. Prior Year Commercial OEM: 65% Com Q1 Transport Q1 ’26 Commercial Transport Revenue Up 18% Commercial OEM: Up 17% Q1 ’26 Business Jet/Helicopter Revenue Up 15% 20% Biz Je
Slide 6: First Quarter 2026 Select Financial Results
First Quarter 2026 Select Financial Results ($ in millions, except per share amounts) Q1 FY 2026 Q1 FY 2025 Revenue $2,285 $2,006 13.9% Increase Gross Profit $1,352 $1,235 • Application of our value-driven operating strategy • Acquisition dilution 59.2% 61.6% -2.4% SG&A $254 $211 • Acquisition dilut
Slide 7: Fiscal 2026 Outlook
Fiscal 2026 Outlook Market Growth Assumptions FY 2025 Pro Forma Revenue Mix (1) Market FY 2026 Expected Growth 25% Commercial OEM High Single-Digit to Mid Teens % Range 32% Commercial Aftermarket High Single-Digit % Range 43% Defense Mid Single-Digit to High Single-Digit % Range Guidance Summary ($
Slide 8: Fiscal 2026 Select Financial Assumptions
Fiscal 2026 Select Financial Assumptions Select Financial Assumptions for Fiscal 2026 Prior Assumptions (Issued November 2025) Updated Assumptions Capital Expenditures $280 to $310 million No change Full Year Net Interest Expense ≈ $1.90 billion (includes $60 million of interest No change income) Fu
Slide 9: Reconciliation of Fiscal 2026 Outlook
Reconciliation of Fiscal 2026 Outlook ($ in millions, except per share amounts) FY 2026 Guidance Midpoint Net income $ 2,008 Adjustments: Includes approx. $35m Depreciation and amortization expense 415 of backlog amortization Interest expense - net 1,900 Income tax provision 619 EBITDA 4,942 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 Mid-Point December 27, 2025 December 28, 2024 September 30, 2026 GAAP earnings per share $ 6.62 $ 7.62 $ 33.43 Adjustments to earnings per share: Dividend equivalent payments 1.02 0.83 1.02 Acquisiti
Slide 11: Capital Structure
Capital Structure Capital Structure ($ in millions) Actual 12/27/25 Rate Cash $2,528 $910mm revolver – S + 2.250% $725mm AR securitization facility 725 S + 1.350% First lien term loan J due 2031 3,595 S + 2.500% First lien term loan K due 2030 3,544 S + 2.250% First lien term loan L due 2032 1,485 S
Slide 12: Interest Rate Sensitivity
Interest Rate Sensitivity • Interest rates on TDG’s $30Bn of gross Debt is ~ 75% hedged/fixed rate through fiscal year 2029 • Achieved via a combination of interest rate caps, swaps and collars • Significantly reduces near-term exposure to any variable rate increases (1) FY 26 Weighted Average Varia
Slide 13: Debt Maturity Profile
Debt Maturity Profile Debt Maturity Profile ($MM) 7000 Secured Term Loans 6000 5000 Secured Notes 4000 Sr Sub Notes 3000 2000 1000 0 Calendar Year 2026 2027 2028 2029 2030 2031 2032 2033 2034 Note 1: $910M Revolver matures in February 2029 Note 2: $725M AR Securitization renews annually in July 12
Slide 14: Reconciliation of Net Income to EBITDA and EBITDA As Defined
Appendix: Reconciliation of Net Income to EBITDA and EBITDA As Defined ($ in millions) Thirteen Week Periods Ended December 27, 2025 December 28, 2024 Net Income $ 445 $ 493 Adjustments: Depreciation and amortization expense 100 90 Interest expense - net 475 378 Income tax provision 127 126 EBITDA 1
Slide 15: 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 Reported Earnings Per Share December 27, 2025 December 28, 2024 Net income $ 445 $ 493 Less: Net income attributable to noncontrolling interests - - Net income attributable
Slide 16: 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) Thirteen Week Periods Ended December 27, 2025 December 28, 2024 Net cash provided by operating activities $ 832 $ 752 Adjustments: Changes in assets and liabilities, net of effects f