Triumph : Investor Presentation March 2024

Investor Overview

March 2024

FORWARD LOOKING STATEMENT

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often, but not always, identified by words such as "anticipate", "believe", "expect", "plan", "intend", "project", "may", "will", "should", "could", or similar words suggesting future outcomes or outlooks. These forward-looking statements include, but are not limited to, statements of expectations of or assumptions about strategic actions (including the ability to complete previously announced transactions),

objectives, expectations, intentions, aerospace market conditions, aircraft production rates, financial and operational performance, including with respect to preliminary results of discontinued operations, revenue and earnings growth and profitability and earnings results. These statements are based on the current projections, expectations and beliefs of TRIUMPH's management. These forward looking statements involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from any expected future results, performance or achievements, including, but not limited to, competitive and cyclical factors relating to the aerospace industry, dependence on some of TRIUMPH's business from key customers, requirements of capital, uncertainties relating to the integration of acquired businesses, general economic conditions affecting TRIUMPH's business segments, product liabilities in excess of insurance, technological developments, limited availability of raw materials or skilled personnel, changes in governmental regulation and oversight, international hostilities and terrorism and bondholder response to any offer of ours to repurchase their notes. Further information regarding the important factors that could cause actual results, performance or achievements to differ from those expressed in any forward-looking statements can be found in TRIUMPH's reports filed with the SEC, including in the risk factors described in TRIUMPH's Annual Report on Form 10-K for the fiscal year ended March 31, 2023.

The presentation contains Non-GAAP measures. Please see slides titled "Non-GAAP Disclosures" for more information.

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Business Overview

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TRIUMPH's Continuing Operating Companies

FY23 Sales by End Market
	Non-Aviation 4%
Military MRO	Commercial OEM
15%	47%

Commercial

MRO 11%

Military OEM

23%

FY23 Relative Profit

Non-Aviation 4%

OEM Production

45%

Aftermarket

51%

Note: Operating companies presented in the chart based on relative net sales contribution. TRIUMPH / Investor Overview / Mar 2024 |

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Sale of Product Support

• TRIUMPH Product Support is an industry leader in the Maintenance, Repair and Overhaul (MRO) of structures and airframe and engine accessories.
• Purchase price for $725 M (approximately 14.5x TTM 9/30 earnings)
• Transaction allows TRIUMPH to meaningfully de-lever and focus on IP-based businesses
• Expected close this quarter…straight-forward carve out
• TRIUMPH continuing IP-based Aftermarket was ~26% of Q3 sales

Product Support Sale Transformative for TRIUMPH

Thrust Reversers

Air Cycle Machine

Flight Controls

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Q3 FY'24 Takeaways

Strong organic sales growth; Positive free cash flow; Supply chain pacing earnings

Product Support sale

and related

deleveraging on track

Sales by End Market (Q3 FY24)

Non-Aviation 3%

Military AM

13%Commercial OEM

50%

Commercial AM

12%

Military OEM

22%

Organic Growth 13%

Aftermarket 26% of sales

Backlog up 18%

~$40M in cost reduction

actions underway

Relative Profit (Q3 FY24)

Non-Aviation 1%

OEM Production

40%

Aftermarket

59%

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Commercial Sales - Q3 FY'24

Accelerating Commercial OEM & MRO demand
OEM Commercial			MRO Commercial
$142	$35	$31
	$120

Q3 FY'24	Q3 FY'23	Q3 FY'24	Q3 FY'23
Increases in 737, 787 and A320 family	Increased volumes across A320 and
offset decreases from Bell 429		A380 program repairs and spares
Profitability up on volume, operational	Profitability up on volume
efficiencies and pricing

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Military Sales - Q3 FY'24

Military OEM and MRO volumes down slightly due to delayed deliveries

Military OEM			Military MRO
$61	$62	$38	$39

Q3 FY'24	Q3 FY'23	Q3 FY'24	Q3 FY'23
Decreased V-22 & UH-60 deliveries, offset	Decline in UH-60 and C-5 spares, offset
favorable timing on CH-53K and F-35	increases in CH-47
programs
		Profitability consistent year-over-year
Profitability improved on changes in mix
and pricing

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Key Investment Highlights

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TRIUMPH: A Compelling Investment

IP focused company following portfolio transformation

Focus on Triumph Operating System to drive operational excellence

Leaner, more profitable company with higher	Anticipate positive FCF for fiscal 2024
concentration in attractive end markets

Enhanced exposure to the aftermarket industry is contributing to growth

Margin expansion driven by quality of backlog, end market demand and IP solutions

Emphasis on delivering innovative solutions to enhance aircraft sustainability

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