2024 TransDigm

Analyst Day
June 26, 2024

1
Agenda
Time Event Presenter

8:30 Registration
9:00 Start
Opening Remarks Nick Howley
TDG Overview Kevin Stein
Consistent Operating Model & Customer Value Overview Mike Lisman
Management Process & Value Creation Joel Reiss
Financial Review Sarah Wynne
Mergers & Acquisitions Process Blake Kelleher
Recent Acquisitions & Integration Patrick Murphy
M&A Wrap-up & Product Presentations Introduction Kevin Stein
Break

Operating Unit Presentations Breakout:

Recent Acquisitions - Calspan, Chelton, DART Greg Campbell, Jason Abbott, Ryan Williamson
Esterline Operating Units - Kirkhill, Korry, TA Aerospace Kevin McHenry, Kevin Hanson, Joe Llanes
New Business - Airborne Systems, Champion Chris Blackburn, Jason Marlin
Productivity Improvements - AeroControlex, AeroFluid, Hartwell Chris Swartz, Mike Hargas, Ron Kato

Lunch

Q&A Panel
2:00 End
2
Forward Looking Statements
Statements in this presentation that are not historical facts, including statements under the heading “2024E,” are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as “believe,” “may,” “will,” “should,” “expect,” “intend,” “plan,” “predict,” “anticipate,” “estimate,” or “continue” and other
words and terms of similar meaning may identify forward-looking statements.

All forward-looking statements involve risks and uncertainties that could cause TransDigm Group’s actual results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, TransDigm Group. These risks and uncertainties include but are not limited to: the sensitivity of our business to the number
of flight hours that our customers’ planes spend aloft and our customers’ profitability, both of which are affected by general economic conditions; supply chain constraints;
increases in raw material costs, taxes and labor costs that cannot be recovered in product pricing; failure to complete or successfully integrate acquisitions; our indebtedness;
current and future geopolitical or other worldwide events, including, without limitation, wars or conflicts and public health crises; cybersecurity threats; risks related to the
transition or physical impacts of climate change and other natural disasters or meeting sustainability-related voluntary goals or regulatory requirements; our reliance on certain
customers; the United States (“U.S.”) defense budget and risks associated with being a government supplier including government audits and investigations; failure to maintain
government or industry approvals; risks related to changes in laws and regulations, including increases in compliance costs; potential environmental liabilities; liabilities arising in
connection with litigation; risks and costs associated with our international sales and operations; and other factors.

Further information regarding the important factors that could cause actual results to differ materially from projected results can be found in TransDigm Group’s most recent
Annual Report on Form 10-K and other reports that TransDigm Group or its subsidiaries have filed with the Securities and Exchange Commission. Except as required by law,
TransDigm Group undertakes no obligation to revise or update the forward-looking statements contained in this presentation.

3
Special Notice Regarding Pro Forma
and Non-GAAP Information
This presentation sets forth certain pro forma financial information. This pro forma financial information gives effect to certain recently completed acquisitions. Such pro
forma information is based on certain assumptions and adjustments and does not purport to present TransDigm's actual results of operations or financial condition had the
transactions reflected in such pro forma financial information occurred at the beginning of the relevant period, in the case of income statement information, or at the end of
such period, in the case of balance sheet information, nor is it necessarily indicative of the results of operations that may be achieved in the future.

This presentation also sets forth certain non-GAAP financial measures. A presentation of the most directly comparable GAAP measures and a reconciliation to such measures
are set forth in the appendix.

4
Opening Remarks
Nick Howley– Chairman of the Board
Opening Remarks

6
Consistent Value Compounder
In its 18 years under public ownership, TransDigm has outperformed the S&P 500 by 26x and its
peer group by 12x

Source: CapIQ
1. Return calculation assumes dividends are reinvested and accounts for share dilution
2. Peer Group consists of HEICO, Woodward, L3Harris, AAR Corp., and Triumph 7
Consistent Value Compounder
TransDigm has returned nearly 3,300x its initial invested equity, reflecting a remarkably evenly
distributed 36% IRR1 for over three decades

8
Organizational Philosophy - Decentralized

CORPORATE
Corporate Local
Control Autonomy

Value Generation Strategy

OPERATING UNIT

Economy Mgmt Central Local

of Scale Resources Control Autonomy Employees Owners

Structure Execution Motivation

9
Unique Compensation Concept –
“Think/act like an owner”

TDG Ownership

Low ` High Low ` High

Cash Compensation Equity Based Compensation

100% Performance Vesting

Very High Shareholder Alignment

10
Consistent Strategy & Value Creation

Proprietary Aerospace and Aftermarket

Value Based Operating Strategy

“Private Equity-
Decentralized Organization / Aligned Like” Returns with
with Shareholders Liquidity of a
Public Market
Disciplined Acquisition Strategy

Efficient Capital Structure

11
TransDigm Overview
Kevin Stein – President & CEO
Experienced Senior Management Team with Proven
Track Record
EXECUTIVE TITLE
Officers & Executives:
Kevin Stein President & CEO
Mike Lisman Co-COO

Proven Track Record

Joel Reiss Co-COO

Sarah Wynne CFO
Alex Feil Executive VP
Pete Palmer Executive VP  Experienced with a Leveraged Capital Structure
Paula Wheeler Executive VP
Patrick Murphy Executive VP
Marko Enderlein Executive VP  Deep Bench
Kevin McHenry Executive VP
Jessica Warren General Counsel & CCO
 Shared Values and Operating Strategies
Operating Unit Management Participating In Analyst Day:
Chris Swartz President, AeroControlex  Management is a Significant Owner
Mike Hargas President, AeroFluid Products
Chris Blackburn President, Airborne Systems
Greg Campbell President, Calspan Corporation
Jason Marlin President, Champion Aerospace
Jason Abbott President, Chelton
Ryan Williamson President, DART Aerospace
Ron Kato President, Hartwell
Kevin Hanson President, Korry
Joe Llanes President, TA Aerospace
13
Superior Stock Performance
Historical TDG Returns vs. S&P 500
90%

79%
80%

70%

60%

50%

40%
30%
30% 27% 27%

20% 15%
12%
10%

0%
10 YR Return CAGR 5 YR Return CAGR 1 YR Return CAGR
(1) (2)
TDG S&P 500
(1) TransDigm returns are adjusted for special dividends paid of $187.00 in 10-year period, $116.00 in 5-year period and $35.00 in 1-year period. All returns measured as of 5/31/24. 14
(2) S&P adjusted for dividends estimated to be 1%.
Our Objective

“Private Equity-Like Growth in Value with Liquidity of a Public Market”

+ 15% - 20% / year on average

15
Unique & Consistent Business Strategy
Private & Public

TransDigm’s Consistent Goal – “Private Equity-Like” Returns to Shareholders

 Proprietary Aerospace Products with Significant Aftermarket

 3-Part Value-Based Operating Strategy

 Decentralized, Organization/ Aligned with Shareholders

 Focused Discipline Acquisition Strategy

 “Private Equity-Like” Capital Structure & Culture

16
Company Overview
Business Snapshot
($ in millions)

%
Change
FY2024 FY24 Guidance
Guidance Mid-Point v.
FY2022 FY2023 Mid-Point (2) FY22
Revenue $ 5,429 $ 6,585 $ 7,740 + 43%

EBITDA as Defined (1) $ 2,646 $ 3,395 $ 4,045 + 53%

EBITDA as Defined margin 48.7% 51.6% 52.3%

(4)
FYE Share Price $525 $843 $1,354 + 158%

Enterprise Value (3) ≈ $92 Billion

(1) EBITDA as Defined is a non-GAAP financial measure. For a historical reconciliation of EBITDA as Defined to Net Income, please see the appendix.
(2) Revenue and EBITDA As Defined information under FY24 Guidance Mid-Point reflect the mid-point of the guidance range for the fiscal year ending 9/30/24 that was issued on 5/7/24. TransDigm only updates guidance quarterly and this presentation does
not confirm or update guidance now.
(3) Enterprise value calculated as of 6/17/24 equals equity value (shares outstanding as of 3/30/24 multiplied by the TDG closing stock price on 6/17/24) plus pro forma total net debt (total debt less cash).
(4) TDG closing stock price on 6/17/24 plus $35 dividends paid in fiscal 2024. 17
Consistent Record of Growth and Margin Expansion
($ in millions) ($ in millions)

Revenues EBITDA As Defined Margin (1)

$9,000 $4,500
(2)
(2)
$4,045
$7,740
$8,000 $4,000

$7,000 $3,500

$6,000 $3,000

$5,000 $2,500

$4,000 $2,000

$3,000 $1,500

$2,000 $1,000

$1,000 $500

$0 $0

1993

1998

2003

2008

2013

2018

2023

2024E
1993

1998

2003

2008

2013

2018

2023

2024E

EBITDA As Defined Margin % (1)

19.2% 39.6% 42.3% 46.6% 46.8% 49.3% 51.6% 52.3%
(1) EBITDA as Defined is a non-GAAP financial measure. For a historical reconciliation of EBITDA as Defined to Net Income, please see the appendix.
(2) Revenue and EBITDA As Defined information for FY24 reflects the mid-point of the guidance range for the fiscal year ending 9/30/24 that was issued on 5/7/24. The Company only updates guidance quarterly and this presentation does not confirm or update 18
guidance now.
Recurring Stream of Profitable Aftermarket Revenue
Profitability %

Aftermarket

OE Production

5 10 15 20 25 30 35 40 45 50 55 60 65 70
Airframe Program Life Cycle (Years)

19
 Strong Focus on High-Margin Aftermarket
FY 2023 Pro Forma Revenues (1) EBITDA As Defined (2)

Commercial
Defense Aftermarket OEM
38% 35%

Aftermarket

Commercial OEM
27%

Aftermarket: 56%
OEM: 44%
(1) Pro forma revenue is for the fiscal year ended 9/30/2023. Includes full year impact of the Calspan Corporation acquisition completed May 2023. Excludes impact of any fiscal year 2024 acquisitions. Please see the Special Notice Regarding Pro Forma and Non-
GAAP Information. 20
(2) EBITDA As Defined is the primary measurement used by management to review and assess the operating performance of each segment.
Significant Proprietary Revenue Base
Proprietary Revenue

Non-proprietary
~10%

Proprietary
~90%

Results in strong market positions and a stable, recurring revenue stream

21
Note: Based on management estimates of pro forma TransDigm sales for FY2023. Please see the Special Notice Regarding Pro Forma and Non-GAAP Information.
Proven Record of Acquisition and Integration
Privately Held NYSE
1993 – 2006 2006 – 2010 2011 – 2014 2015 – 2018 2019 – 2020 2021 – 2024

Cobham Aero Connectivity

Sweeney  Talley Actuation Telair International  Advanced Input  Chelton Ltd.
 Adel  

Telair
Electra-Motion  Schneller AAR Cargo Systems Systems(3)  Canyon
 Aeroproducts  
 Armtec AeroConnect
 Wiggins  CDA InterCorp.  Harco  Nordisk Aviation
 Auxitrol Weston  DART Aerospace
 Controlex  Avtech  AmSafe Passenger  Franke Aquarotter
Restraints  Avista (5)  Calspan
 Marathon  ADS/Transicoil  Pexco
Corporation
AmSafe Commercial CMC Electronics

AmSafe
Bruce  PneuDraulics 
 Adams Rite Aerospace  
 GKN – FPT
Products  Darchem
 Christie  CEF  Breeze-Eastern Industries
 AmSafe Cargo  Gamesman(3)
 Champion  Unison/GE  DDC  SEI Industries
Restraints & Specialty
APC/GE Young & Franklin  Hytek
 Honeywell Lube Pump  Devises   CPI – Electron

Esterline
Acme (Tactair)  Korry Device Business
 Fuelcom   Aero-Instruments
Woodward HRT  Schroth (2)  Leach International
 Norco   Beams
Dukes  North Hills  Leach NA
 Avionic Instruments   Aerosonic
Semco  Cablecraft Aerospace  LRE Medical(3)
 Skurka   Arkwin
Hartwell  Preece  Mason
 Fluid Regulators   Whippany Actuation
Electromech  Kirkhill  NMC
 Eaton Motors   Airborne Systems –
McKechnie

 Tyee North America  Extant  Palomar

 TAC (7)  Airborne Systems –  Skandia  Racal(6)
 Linread (1) Europe  Scioteq (7)
 Valley-Todeco (1)  Elektro-Metall Export  Souriau Sunbank(4)
 AQS (1)  TA Aerospace
 Treality SVS (7)

TransDigm has acquired 92 businesses since 1993, including 77 since its IPO.
(1) Divested in Q2 and Q3 of FY2011 (3) Divested in Q4 FY 2019 (5) Divested in Q1 FY2021 (7) Divested in Q3 FY2021
(2) Divested in Q2 FY2018 (4) Divested in Q1 FY 2020 (6) Divested in Q2 FY2021 22
TransDigm Deleverage Profile
Net Debt / Pro Forma EBITDA as Defined COVID-19
Downturn

Special Special
Refi & Dividend
dividend
7.0x Dividend Special
Telair, dividend Special
Franke Esterline Dividend
and Pexco Refinancing Acquisition
6.5x DDC
Special Acquisition
McKechnie
Dividend & GCP
Warburg Acquisition
Pincus
6.0x Recap
Special
Dividend
Special
5.5x Dividend
IPO
AmSafe
5.0x Recap &
Acquisition
Dividend

4.5x

4.0x

3.5x

3.0x

2.5x

2.0x

Note: EBITDA as Defined is a non-GAAP financial measure. For a reconciliation of EBITDA as Defined to Net Income, please see the appendix.
23
Consistent Strategy & Value Creation

Proprietary Aerospace and Aftermarket

Value Based Operating Strategy

“Private Equity-
Decentralized Organization / Aligned Like” Returns with
with Shareholders Liquidity of a
Public Market
Disciplined Acquisition Strategy

Efficient Capital Structure

24
Our Markets & Customer Value
Overview
Mike Lisman – Co-COO
TDG Organization
Kevin Stein
President & CEO

Mike Lisman Joel Reiss Jes Warren Sarah Wynne

Co-COO Co-COO General CFO
Counsel

EVP EVP EVP EVP EVP EVP EVP

6-7 Op 6-7 Op 6-7 Op 6-7 Op 6-7 Op 6-7 Op 6-7 Op
Units Units Units Units Units Units Units

Scalable Organization Structure

26
Diverse Products, Platforms and Markets

27
TransDigm – Expanding Global Footprint

50 Operating Units; ≈110 Manufacturing Locations

28
Steady Growth in Passenger Traffic and Installed Base
Drives Stable Aftermarket Sales
Worldwide Installed
Worldwide Base Growth
Installed Base
45,000
40,000
35,000
30,000 2023 – 2029E
25,000 CAGR +3%
20,000
15,000
10,000

Worldwide Installed Base Growth

Worldwide RPK Growth

Worldwide RPK’s
14,000

12,000

10,000

8,000
2023 – 2029E
6,000
CAGR +6.5%
4,000

2,000

Worldwide RPK Growth

Source: IATA, Aerodynamic Advisory, CAPA, ICAO 29
Commercial OEM Market Environment
Commercial Transport Commercial Transport – Total Deliveries
(Boeing & Airbus) 50+ Year History
2,200
15 years
2,000
2,000

1,800
1,800
1,600
1,600
` 1,400
7 years

1,400
` 1,200
7 years
1,200 1,000
5 years
1,000 800 4 years

800 600

400
600

200
400
13 14 15 16 17 18 19 20 21 22 23E 24E 25E 26E 27E 28E 29E
0
Commercial Transport Deliveries

1965
1967
1969
1971
1973
1975
1977
1979
1981
1983
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
2013
2015
2017
2019
2021
2023E
2024E
Note: Boeing, Airbus deliveries Note: Boeing, Airbus, and regional aircraft manufacturer deliveries.

Source: Analysts/ Management Estimates 30

Fleet Age Remains Elevated
Age of Commercial Aircraft Fleet Over Time

15.0
14.2 yrs
14.5
14.0
13.5
13.0
12.5
12.0
11.5
11.0
10.5
10.0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Average Aircraft Age (in years)

(1) Includes Passenger & Cargo Active Fleet (Narrowbody Jets, Regional Jets, Turboprops & Widebody Jets)
31
Source: Aerodynamic Advisory
Defense Market Environment
U.S. Defense Base Budget ($Bn) International Defense Spending ($Bn)

$1,000 $2,300
CAGR + LSD% CAGR + MSD%
$950 $2,100

$900
$1,900

$850
$1,700
$800
$1,500
$750
$1,300
$700
$1,100
$650

$900
$600

$550 $700

$500 $500
2023 2024E 2025E 2026E 2027E 2028E 2023 2024E 2025E 2026E 2027E 2028E

Source: U.S. DOD Defense Budgets (excludes supplementals), Aerodynamic Advisory, Aviation Week 32
Commercial Aftermarket Trends
Commercial Aftermarket Growth
5 Year Average
TDG 11.9%

50.0%
Peer Group 9.0%

40.0%

30.0%

20.0%

10.0%

0.0%

-10.0%

-20.0%

-30.0%

-40.0%

-50.0%
Global Long-Term Avg Annual Growth (RPKs) Installed Base Avg Annual Long-Term Growth
TransDigm Growth Rolling 4 Qtr Peer Group Growth Rolling 4 Qtr

Sources:
Peer Group: component parts growth rate from Canaccord and respective company filings (average of Crane CAM, Heico FSG, Honeywell CAM, Meggitt CAM prior to Parker Hannifin acquisition, ROC CAM prior to UTX acquisition and Raytheon Technologies CAM
(formerly UTC);
RPK growth and installed base as reported by Airline Monitor 33
TransDigm’s Addressed Market for Commercial Aftermarket

Global Airline Operating Expenses Global Maintenance Spend TDG Addressed Market
2023 Total = $855B 2023 Total = $122B 2023 Total = $57B

Global TDG TDG Air Transport

Other
Maintenance Addressed Aftermarket
31%
$122B $57B ≈ $1.7B
Labor & Others
Others
Benefits 53% 3%
97%
23%
14%
47%

Fuel
32%

TransDigm’s Addressed Market for Air Transport Aftermarket is $57B

of Which We Hold a ≈ 3% Market Share

Source: IATA / AeroDynamic Advisory Analysis / TDG

Addressed market refers to the material market where TDG currently has content on by aircraft model and part type 34
TransDigm’s Diverse Commercial Aftermarket Revenue Base
Total FY 2023 Commercial Top 20 Airlines
Aftermarket Worldwide Revenue by
Annual Sales $ Per Part United Airlines
Delta Airlines
American Airlines
> $3 million Sales
IAG
per year Air France-KLM
≈ 15% to 20% Emirates
Lufthansa
China Southern Airlines
Southwest Airlines ≈ 50%
Air China Worldwide
Qatar Airways
Turkish Airlines RPKs (1)
China Eastern Airlines
Ryanair
Singapore Airlines
Air Canada
Aeroflot
< $3 million IndiGo
Sales per year LATAM Airlines
≈ 80% to 85% easyJet

High SKU Count being Sold Across a Diverse Customer Base

(1) Source: AeroDynamic Advisory Analysis 35
Strong Positions on Diverse and Growing Platforms

TOP PLATFORMS

Top 5 Commercial Platforms ≈ 20% Sales

B737 A320 B777
B757/767 A350

Top 5 Defense Platforms ≈ 8% Sales

Blackhawk C130 F35
F16 A400M

36
Note: Based on Management estimates of total revenue for 2023.
PMA Market Penetration
3rd Party PMA 3rd Party PMA
≈ 1½% to 2½% Less than 2%

Total INDUSTRY Commercial Total TDG Commercial

Aftermarket $ Aftermarket $

No Significant PMA Threat – At or Below Market Exposure Levels

37
Source: AeroDynamic Advisory Analysis / TDG Management Analysis
 Surplus Parts Minimal TDG Impact
TDG Parts Tend to be Consumables, Below $10K Average Sale Price and Away from the Engine –
These are Not Typical Surplus Parts Targets
Surplus Sales Market Penetration
7 to 10% Surplus Below 4% Surplus

Industry TDG Below Market %

No Significant Surplus Market Threat – Though Continue to Monitor

Source: AeroDynamic Advisory Analysis / TDG Management Analysis 38
Proven Operating Strategy

Profitable New Productivity and

Value Based Pricing
Business Cost Improvements

3 Value Drivers

39
TDG Operating System: A Detailed Process
Investment
 Highly Engineered Products Require Resourcing

 ≈ 8-10% of Total Cost Spent on Engineering

Organization
 Decentralized Execution

 Business Unit Team Concept

 Succession Planning

Execution
 Relentless Drive to Create Value

 Strong Track Record

40
Customer Value Proposition
Provide Reliable, Well Engineered Products &
Deliver Them On-Time

Highest Value to Customers

41 41
Major New Business Content:
Commercial Aircraft “New Designs”
Strong “New Design” $ / Shipset Growth Over Prior Platforms – “Same Store Basis”

B787 A350 777X

+ Over 35% + Over 45% + Over 5%

Prior Platforms B787 Prior Platforms A350 Prior Platforms 777X

Representative Products: Representative Products: Representative Products:
• Composite Components • Onboard Cargo System • Composite Components
• Clamps & Fasteners • Cockpit Security System • Communication Boards/Software
• Audio System/Software • Cabin/APU Electrical • Fuselage Latches
• CPA/Module for Utility Control System Interconnect • Flight Control Actuators
Systems • Decorative Laminates • Numerous Others
• Interior Thermo Plastics • Engine sensors & GSP Indicators
• Nacelle & Other Latches • Numerous Others
• Numerous Others
42 42
Major New Business Content:
Single Aisle Commercial Aircraft
$ / Shipset Growth Over Prior Platforms – “Same Store Basis”

A220, A320neo & B737Max  Continued Growth in Content on Single

Aisle Commercial Aircraft
(1)
+ ≈ 30%
 Strong Position & Content Wins on the
A220 platform (robust double-digit growth)

 For Non “New Designs” (B737Max,

A320neo): “Modest Design Change” =
“Modest Content Change”

Prior Platforms A220, A320neo & B737Max

Representative Products:
• Airframe Seals • Fire Seals & Engine Duct Seals
• Power Distribution Contactors & Relays • Audio Control Panel
• Air System Valving • Interior Thermo Plastics
• Nacelle/Fuselage & Other Latches • Fuel Line Connectors
• Decorative Laminates • Numerous Others
• Flight Control Valving
• Cargo Loading System
43 43
(1) Represents the Average of the $ / Shipset Growth for the A220, A320neo & B737Max.
New Defense Platforms – New Designs – “Same Store Basis”
$ / Shipset Growth Over Prior Platforms – “Same Store Basis”

JSF A400M KC46 (767)

+ Over 20 %
+ ≈ 2X + ≈ 2X

Prior Platforms JSF Prior Platforms A400M Prior Platforms KC46 (767)

Representative Products: Representative Products: Representative Products:

• Airframe Seals • Cargo Loading System • Refueling Connectors
• Hydraulic Actuators/Valves • Composite Components • Main Deck Barrier Nets
• Engine Clamps • Winch/Retrieval System • Nacelle & Other Latches
• Grommets & Line Supports • Power Distribution Contactors & • Power Distribution Contactors &
• Data Management Processing Relays Relays
Boards/Software • Main Barrier Nets • Ram Air Actuator
• Electric Motors • Engine Sensors • Numerous Others
• Elastomers • Control Panels & Displays
• Numerous Others • Numerous Others 44
Performance Stability

Consistent Value Business Unit Detail

Creation Value Creation Focus
Strategy
 Consistent
Strategy

 Product Line Detail Focus

Solid Value Growth Process
 Active Talent Growth

 Disciplined
Disciplined Acquisition Integration
Active Talent Growth Acquisition
Integration

45
Management Process &
Value Creation
Joel Reiss – Co-COO
TDG Organization
Kevin Stein
President & CEO

Mike Lisman Joel Reiss Jes Warren Sarah Wynne

Co-COO Co-COO General CFO
Counsel

EVP EVP EVP EVP EVP EVP EVP

6-7 Op 6-7 Op 6-7 Op 6-7 Op 6-7 Op 6-7 Op 6-7 Op
Units Units Units Units Units Units Units

Scalable Organization Structure

47
Executive Vice President (EVP) Role

Value Creation Driver & Culture Carrier

EVP
Op Unit Business Guidance
Op Unit 1  President “Coaching”
 Value Driver Emphasis
 Quarterly Reviews
Op Unit 2

Op Unit 3 Talent Development

New
President  President and Staff
 Weed & Feed
Last Year
Acquisition
Acquisition Value Creation

Recent  Assist Due Diligence

Acquisition  Guide Integration Process
 Assess & Revise Management
48
Organizational Philosophy
Structure Execution Motivation

Significant Local Autonomy Think and Act Like Owner

Small Operating Units

Local Decisions Create Value

Focus on Products and
Customers Lower Cash Compensation &
Front Line Value Generation Higher Equity

Few Management Layers

Business Unit Discipline

Value Pricing
Productivity
New Business

VALUE CREATION

49
Operating Unit Organization

President

VP of VP of VP of VP of
Sales Operations Engineering Finance

Business Unit Business Unit

Manager Team

Business Unit Business Unit

Manager Team

Business Unit Business Unit

Manager Team

Business Unit Value Focus

50
Autonomous Operating Units

50 Operating Units
Electron Device Business

115+ Business Units

≈ 16,000 Employees

51
Proven Operating Strategy

Profitable New Productivity and

Value Based Pricing
Business Cost Improvements

3 Value Drivers

52
Business Unit Value Creation
Business Unit Teams
 Grouping of Related Products
 Co-located, Cross Functional Team
 Business Unit Manager Drives Performance

Value Driver Focus

 Profitable New Business
 Productivity and Cost Improvements
 Value-based Pricing

Accountability
 Standardized Business Metrics Across Operating Units
 Quarterly Reviews and Mid-Year Reviews
 Ownership of Results

53
New Business

Drives Organic Growth

Customer-Driven Business
Opportunities
Focus on Profitable
New Business Highly Engineered & Innovative

Responsive Development

54
New Business – How we do it
Customer Relationships

 Strong Operational Performance

 Engineer to Engineer Selling Existing Part with
 Customer Sponsorship New Customer
 Solve Customer Technical Issues

Innovation New Part with New Part with

Existing Customer New Customer
 Highly Engineered
 New Technology/Processes
 Rapid Prototype Development
Profitable New
Product Development Business

 Dedicated Business Unit Teams

 Concurrent Engineering
 Phase Gate Process

55
New Business Modeling
Analytical Approach EXAMPLE ONLY

 Data Driven New Business Model Excerpt

2024 2025 2026 2027 2028 2029
 Realistic OEM Production Rates Annual Data
Production Sales NRE $507 $765 $968 $1,318 $1,536

 Historical NRE Investment Estimates Production COS

Product Margin
($475) ($448)
$59
($656)
$109
($815)
$153
($1,065)
$253
($1,166)
$370
Margin % 12% 14% 16% 19% 24%
 Actual-cost Production Cost Estimates SG&A %
EBITDA Margin
-12%
0%
-12%
2%
-12%
4%
-12%
7%
-12%
12%

 Combined OEM & Aftermarket View Spares Sales $116 $263 $837 $1,362 $2,660
Spares COS ($56) ($121) ($360) ($545) ($1,011)
 IRR & Cumulative Cash Flow Analysis Spares Margin
Spare Margin %
$60
52%
$142
54%
$477
57%
$817
60%
$1,649
62%
SG&A % -12% -12% -12% -12% -12%
 No “Must-Win” Programs EBITDA Margin 40% 42% 45% 48% 50%

Total Sales $623 $1,028 $1,805 $2,680 $4,196

Total COS ($504) ($777) ($1,175) ($1,610) ($2,177)
Product Margin $119 $251 $630 $1,070 $2,019
Margin % 19% 24% 35% 40% 48%
SG&A % -12% -12% -12% -12% -12%
EBITDA Margin 7% 12% 23% 28% 36%

Net Cash flow ($475) $45 $128 $413 $749 $1,516

Cum Cash flow ($475) ($430) ($303) $111 $859 $2,375

Focus on Profitable New Business Return on Investment 6 yrs 56%

56
Productivity

Annual Productivity Improvements

to Offset Inflation

Across Total Cost Base

57
Productivity – Detailed Cost Reduction Planning

 Monthly Tracking Actual vs. Plan

 Assigned Owners and Due Dates
 Offset Unexpected Cost Challenges
 Not Just for Operations
 Trust but Validate

Note: For Illustration Only SAMPLE 58

 Productivity - Sales per Employee

Improving Trend on  “Real” Productivity Savings

Constant Dollar Basis
 Productivity focused Capital Expenditures
 Automation Projects

Average # of Employees
 Cross-Functional Training
Sales Per Employee

 Cost Savings is not just for Operations

1 2 3
Year
Note: For Illustration Only
59
Operational Excellence - Quality

Processes Culture Metrics Verification

• Revision Controlled • Open & Honest • Customer Quality & • Internal Audits
Documentation Communication Delivery Ratings • Third Party Audits
• Cross-Training • VIP Programs • Warranty Returns (AS9100)
• Engaged • Scrap & First Pass • FAA Audits
Management Yield • Customer Audits
• Supplier Quality

60
 Operational Excellence and Value Pricing

YTD Business Unit “A” Pricing Results

Percent Increase

Comm Trans OEM Reg Bus Jet OEM Com AM Total

YTD FY Plan Inflation

Note: For Illustration Only

61
Business Unit – Income Statement
Prior Year % to Q2 % to YTD % to YTD % to
Actual Sls Actual Sls Actual Sls Plan Sls

36,814 100.0% Sales 9,819 100% 26,216 100% 25,974 100%

Product Costs:
8,870 24.1% Material 2,326 23.7% 6,229 23.8% 6,284 24.2%
2,812 7.6% Direct Labor 730 7.4% 1,984 7.6% 1,924 7.4%
7,000 19.0% Overhead 1,801 18.3% 4,865 18.6% 4,932 19.0%
947 2.6% Depreciation 215 2.2% 623 2.4% 628 2.4%
- 0.0% Other - 0.0% - 0.0% - 0.0%
19,629 53.3% Total Product Costs 5,072 51.7% 13,701 52.3% 13,768 53.0%

17,185 46.7% Gross Profit 4,746 48.3% 12,515 47.7% 12,206 47.0%
G&A Costs:
61 0.2% Engineering 16 0.2% 46 0.2% 40 0.2%
681 1.9% Sales 188 1.9% 549 2.1% 562 2.2%
1,249 3.4% Admin 273 2.8% 637 2.4% 641 2.5%
(41) -0.1% Other - 0.0% - 0.0% - 0.0%
64 0.2% Depreciation 17 0.2% 50 0.2% 20 0.1%
2,015 5.5% Total G&A Costs 494 5.0% 1,282 4.9% 1,263 4.9%

16,181 44.0% Product Line EBITDA 4,485 45.7% 11,906 45.4% 11,591 44.6%

SAMPLE 62
Business Unit Structure – Creating Value

Consistent
Value Generation

Detailed Accountability

Clear Metrics

Value Creation
Focus

63
Growing Value Requires Growing Talent

Talent Demand

Organic Growth & Acquisitions &

Management Turnover Management Transitions

Growth Requires Talent

64
Talent Development

Financial Competency Value Creation Contracting

Income Balance Risk Management
Statement Sheet
IP Protection

Value Aftermarket Access

New Business Productivity
Pricing Modeling Management

Business Unit Reviews Site Visits & Operational Reviews

65
Succession, Development and Promotion
President

HR, QC
VP of Sales VP of Eng VP of Ops VP of Finance
Other

Key Positions
 Development Plans
Biz Unit Mgr Eng Lead Mfg Mgr
President
VP of Sales  Mentoring
VP of Operations
Business Unit Manager  Stretch Assignments
Manufacturing Manager

 Job Rotations

New Acquisition Existing Unit

President OR President

HR, QC
HR, QC Dir of S&M Dir of Eng Dir of Mfg. Controller
Dir of S&M Dir of Eng Dir of Mfg. Controller Other
Other

Prod Line Mgr Eng Lead Mfg Mgr

Prod Line Mgr Eng Lead Mfg Mgr

66
TransDigm Leadership Development Programs

Business Unit Manager

(BUM) Bootcamp
 Executive Development Program  Business Unit Manager Development Program
 Customized Curriculum  Case Studies
 Team Based Action Learning Projects
 Highly Participatory
 Individual Development Plan
 COO Sponsors
 Formal Mentoring Program
 30 Participants February 2024
 2 EVP Sponsors
 4 Cohorts, Over 100 Participants
 50% Promotion Rate
67
Management Development Program (MDP)
 Recruit smart & energetic future
leaders
 Two-year rotational program for MBA
graduates
 Three 8-month rotations at different
operating sites
 Gain experience in Operations, Sales,
Product Development and Supply Chain
 39 participants over 6 years

68
Talent Development - Promotions

Leadership Promotions
2019-2023 Internal Promotions
External  Culture-Carriers
36%
 Smart

 Energetic

 Proven-Track Record of Creating Value

 Demonstrated Leadership
Internal
64%

69
Performance Stability

Solid Value Growth Process

 Consistent Value Creation Strategy

 Business Unit Detail Focus
 Active Talent Development

70
Financial Overview
Sarah Wynne – CFO
 Historical Financial Highlights
Revenue EBITDA AS Defined Adjusted Earnings Per Share Enterprise Value

($ in millions) ($ in millions)
($ in billions)
$7,740
$92
$4,500

$4,045 $32.42
$6,585 $4,000

$3,395 $25.84
$3,500 $63
$5,429
$5,223
$5,103
$3,000 $50
$4,798 $18.27
$2,646 $17.14 $45
$43
$41
$2,500 $2,419
$14.47
$2,278
$2,189 $12.13
51.6% 52.3%
46.3% 45.6% 48.7%
$2,000 44.6%

$1,500

$1,000
(1) (1)
2019 2020 2021 2022 2023 2024E 2019 2020 2021 2022 2023 2024E 2019 2020 2021 2022 2023 2024E (1)
2019 2020 2021 2022 2023 2024
(2)

EBITDA % margin

TransDigm Continues to Grow and Generate Significant Cash

Note: EBITDA as Defined is a non-GAAP financial measure. See the appendix for a historical reconciliation of Income from Continuing Operations to EBITDA as Defined.
(1) Revenue, EBITDA As Defined and Adjusted Earnings Per Share information under 2024E reflects the mid-point of the guidance range for the fiscal year ending 9/30/24 that was issued on 5/07/24. TransDigm only updates guidance quarterly and this
presentation does not confirm or update guidance for Analyst Day. 72
(2) 2024 Enterprise value calculated as of 6/17/24 equals equity value (shares outstanding as of 3/30/24 multiplied by the TDG closing stock price on 6/17/24) plus pro forma total net debt (total debt less cash).
TransDigm – How was the Past 5 Years?
$3,500 51.6% (1)

$3,300

$3,100

$2,900
Last 5 Year
$2,700
EBITDA Growth
$2,500
Welcome ESL!
$2,300

$2,100

$1,900

$1,700
49.3% (1)
$1,500
2018
1
2019
2
2020
3
2021
4
2022
5
2023
6

(1) EBITDA as Defined is a non-GAAP financial measure. See the appendix for a historical reconciliation of Income from Continuing Operations to EBITDA as Defined.
73
Significant Free Cash Flow
Free Cash Flow Before Working Capital Exceeds 50% of EBITDA As Defined

100%

90%

80%

70%

60%

50%

40%

30%
51% 55% 51% 54% 54%
20% 45% 45% 47%
10%

0%
2017 2018 2019 2020 2021 2022 2023 2024 LTM
3/30/24

Free Cash Flow Cash Interest Cash Taxes Cap Ex

74
Note: Free Cash Flow before Working Capital is a non-GAAP financial measure. Please see appendix for a reconciliation of Free Cash Flow before Working Capital.
 “Private Equity-Like Capital Structure"
Strong Free Cash Flow Allows TransDigm to be Highly Levered

8.0x

7.0x

6.0x Range

5.0x

4.0x

3.0x

2.0x
FY'18 FY'19 FY'20 Q1 Q2 Q3 FY'21 Q1 Q2 Q3 FY'22 Q1 Q2 Q3 FY'23 Q1 Q2

Note: Fiscal year ending 30-Sep. Net leverage defined as Net Debt / EBITDA As Defined. EBITDA As Defined is a non-GAAP financial measure. Please see the appendix for a reconciliation from Income from Continuing Operations to EBITDA As Defined. 75
Fiscal 2024 Financing Activity
November 2023
 Raised ≈ $2B of newly issued debt primarily for CPI Electron Device Business Acquisition

February 2024
 Completed refinancing of $4.4B Senior Secured Notes
 Increased and extended Revolver, Increased capacity by $100M to $910M

March 2024
 Completed ‘Amend & Extend’ of $1.7B Term Loan H
 Completed repricing of $4.5B Term Loan I
 Completed $550M Senior Secured Note tack-on and refinancing

June 2024
 Completed repricing of $1B Term Loan J
 Completed ‘Amend & Extend’ of $2.6B of Term Loan I
 Entered into additional hedges to align with the new term loans & extended maturities
on existing debt
76
Debt Maturity Profile and Interest Rates
$8,000 Secured Term Loans
Prior Debt Maturity Profile
$7,000 Secured Notes
$6,000 Sr Sub Notes Weighted Average
$5,000 Interest Rate
$4,000
$3,000
Pre-Financing
$1,496 6.3%
$2,000
$1,000
$0
Calendar Year 2024 2025 2026 2027 2028 2029 2030 2031 2032

$8,000 Secured Term Loans

$7,000
Current Debt Maturity Profile Secured Notes Weighted Average
$6,000 Sr Sub Notes Interest Rate
$5,000
Post-Financing
$4,000
6.0%
$3,000
$2,000
$1,000
Fixed Debt 75% FY27 Post-Financing
$0
Calendar Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 77
Pro Forma Capitalization Structure
(1)
Pro forma capitalization Actual Pro Forma
($ in millions) 3/30/24 Adj. 3/30/24 Rate Maturity

Cash $4,288 – $4,288 (1)

Includes ~$1.5B
Restricted Cash $550 (550) –
Total Cash $4,838 $4,288 paid out in Q3 FY24
$910mm revolver – – S + 2.250% Feb-29
for acquisitions
$450mm AR securitization facility 450 450 S + 1.600% Jul-24
First lien term loan I due 2028 4,525 (2,644) 1,881 S + 2.750% Aug-28
First lien term loan J due 2031 997 (997) – S + 3.250% Feb-31
Repriced First lien term loan J due 2031 – 3,641 3,641 S + 2.500% Feb-31
First lien term loan K due 2030 1,708 1,708 S + 2.750% Mar-30
Senior secured notes due 2028 2,100 2,100 6.750% Aug-28
Senior secured notes due 2029 2,750 2,750 6.375% Mar-29
Senior secured notes due 2030 1,450 1,450 6.875% Dec-30
Senior secured notes due 2031 1,000 1,000 7.125% Dec-31
New senior secured notes due 2032 2,200 2,200 6.625% Mar-32
Total secured debt $17,180 $17,180 4.5x
Total net secured debt $12,892 $12,892 3.4x

Senior subordinated notes due 2027 550 (550) – 7.500% Mar-27

Senior subordinated notes due 2027 2,650 2,650 5.500% Nov-27
Senior subordinated notes due 2029 1,200 1,200 4.625% Jan-29
Senior subordinated notes due 2029 750 750 4.875% May-29
Capital Lease Obligations (Gross) 259 259
Total debt $22,589 $22,039 5.8x
Total net debt $18,301 $17,751 4.6x

(1) Pro forma cash, total debt and net debt reflect the April 2024 redemption of the $550M 7.50% senior subordinated notes due 2027. Actual cash includes the $550M classified as restricted cash on the Company’s consolidated
balance sheet as of March 30, 2024. Also includes the term loan refinancing that was completed on June 4, 2024.
Note: EBITDA as Defined is a non-GAAP financial measure. See the appendix for a historical reconciliation of Income from Continuing Operations to EBITDA and EBITDA as Defined. 78
Shareholder Return

Operational Performance Financial Leverage

79
Superior Results
Historical TDG Returns vs. S&P 500

90%
79%
80%

70%
“Private Equity-
60%
Like” Returns with
Liquidity of a 50%

Public Market 40%

30%
30% 27% 27%

20% 15%
12%
10%

0%
10 YR Return CAGR 5 YR Return CAGR 1 YR Return CAGR
(1) (2)
TDG S&P 500
(1) TransDigm returns are adjusted for special dividends paid of $187.00 in 10-year period, $116.00 in 5-year period and $35.00 in 1-year period. All returns measured as of 5/31/24.
(2) S&P adjusted for dividends estimated to be 1%. 80
Mergers & Acquisitions
Blake Kelleher – VP Mergers & Acquisitions
Focused Acquisition Strategy

 Aerospace Products

 Proprietary Engineered Products

 Significant Aftermarket Content

82
Acquisition History
Fiscal Year $ Invested
FY ‘14 $298M
FY ‘15 $1,621M
FY ‘16 $1,435M
 CPI – Electron Device Business
FY ‘17 $105M
 SEI Industries
FY ‘18 $659M  GKN – FPT Industries
FY ‘19 $4,133M  Small product lines

FY ‘20 $0
FY ‘21 $965M
FY ‘22 $448M
FY ‘23 $749M
FY ‘24* $1,684M
Annual Average = ≈$1.1B / Year (≈$800M excl-ESL)
83
* As of June 26, 2024
M&A Organizational Structure

Kevin Stein
 Strong and Stable Team
President & CEO

 Rotational Director Roles

 Utilize Brokers to Assist in US Blake Kelleher

& Europe VP – M&A

Director Director Director

M&A M&A M&A Brokers
(Senior) (Junior) (Commercial)

84
Lead Generation is a Systematic Approach

Visit, Visit, Privately Held /

Family-Owned
Visit!

Conferences / Private Equity

Shows Ownership

Networking Strategic
Owners

85
Active Acquisition Process

Typical Results

Current Multiple(s):
14 – 16x EBITDA

Post Acquisition:
50%+ Multiple Reduction

86
Acquisition Sourcing – Since IPO

Number of Acquisitions Acquired EBITDA at Time of Acquisition

~65% is Esterline
29% 31% Acquisition
36%

49%

40%
15%

Strategic Privately Held Private Equity

Note: Statistics include businesses acquired but later divested. 87

Proven Record of Acquisition and Integration
Privately Held NYSE
1993 – 2006 2006 – 2010 2011 – 2014 2015 – 2018 2019 – 2020 2021 – 2024

Cobham Aero Connectivity

Sweeney  Talley Actuation Telair International  Advanced Input  Chelton Ltd.
 Adel  

Telair
Electra-Motion  Schneller AAR Cargo Systems Systems(3)  Canyon
 Aeroproducts  
 Armtec AeroConnect
 Wiggins  CDA InterCorp.  Harco  Nordisk Aviation
 Auxitrol Weston  DART Aerospace
 Controlex  Avtech  AmSafe Passenger  Franke Aquarotter
Restraints  Avista (5)  Calspan
 Marathon  ADS/Transicoil  Pexco
Corporation
AmSafe Commercial CMC Electronics

AmSafe
Bruce  PneuDraulics 
 Adams Rite Aerospace  
 GKN – FPT
Products  Darchem
 Christie  CEF  Breeze-Eastern Industries
 AmSafe Cargo  Gamesman(3)
 Champion  Unison/GE  DDC  SEI Industries
Restraints & Specialty
APC/GE Young & Franklin  Hytek
 Honeywell Lube Pump  Devises   CPI – Electron

Esterline
Acme (Tactair)  Korry Device Business
 Fuelcom   Aero-Instruments
Woodward HRT  Schroth (2)  Leach International
 Norco   Beams
Dukes  North Hills  Leach NA
 Avionic Instruments   Aerosonic
Semco  Cablecraft Aerospace  LRE Medical(3)
 Skurka   Arkwin
Hartwell  Preece  Mason
 Fluid Regulators   Whippany Actuation
Electromech  Kirkhill  NMC
 Eaton Motors   Airborne Systems –
McKechnie

 Tyee North America  Extant  Palomar

 TAC (7)  Airborne Systems –  Skandia  Racal(6)
 Linread (1) Europe  Scioteq (7)
 Valley-Todeco (1)  Elektro-Metall Export  Souriau Sunbank(4)
 AQS (1)  TA Aerospace
 Treality SVS (7)

TransDigm has acquired 92 businesses since 1993, including 77 since its IPO.
(1) Divested in Q2 and Q3 of FY2011 (3) Divested in Q4 FY 2019 (5) Divested in Q1 FY2021 (7) Divested in Q3 FY2021
(2) Divested in Q2 FY2018 (4) Divested in Q1 FY 2020 (6) Divested in Q2 FY2021 88
What We Don’t Look For
 Synergy  Bigger is Better
 Market Share  Globalization
 Fill Out Product Line  Diversify
 Excess Capacity  Consolidating Industry
 Access to Markets  Spend $ to Make $
 Blah, Blah, Blah…  Blah, Blah, Blah…

• Get Fee
• Name in Paper • Get Promoted
• Increase Salary
• Get Promoted
• Be Fun
• Bigger Boss
• Bragging Rights

89
What We Do Look For

(1)

(1) EBITDA as Defined is a non-GAAP financial measure. See the appendix for a historical reconciliation of Income from Continuing Operations to EBITDA as Defined. 90
Investment Evaluation
Purchase Price / Capital Structure
EBITDA $ 16,500
Multiple 10.0
Purchase Price $165,000
Fees $1,750
Total Purchase Price $166,750

Leverage Multiple 5.5

Debt 5.5x Current Year EBITDA $90,750
Equity Required $76,000
Total $166,750

Debt & Equity

Investment Year 1 Year 2 Year 3 Year 4 Year 5

($76,000)

EBITDA $18,405 $22,530 $26,426 $30,161 $34,243

Multiple 10.0 10.0 10.0 10.0 10.0
TEV $184,053 $225,304 $264,265 $301,608 $342,430

Less debt $ (91,631) $ (89,571) $ (86,086) $ (81,439) $ (75,399) SAMPLE

Market Value $92,422 $135,732 $178,179 $220,170 $267,031

($76,000) 0 0 0 $0 $267,031
IRR 28.6%

Investments Must Generate ≈20% IRR for Our Shareholders

91
Common Issues Identified During Due Diligence

 Misunderstood Aftermarket

 Wasteful Spending

 Misunderstood Value of Products

 Unfocused New Business Process

 Lack of Business Unit Structure

 Investment / Capital Starved

92
Acquisition Integration
Patrick Murphy - EVP
Acquisition Integration Process
Now That We Own It - What Do We Do With It!?

Why Does this Fit with TransDigm?

 Focused on Aerospace
 Proprietary Products, Process or Technologies
 Significant Aftermarket Content

Generally Good Businesses Misunderstood or Mismanaged

Our Job:
 Unlock Shareholder Value

94
Acquisition Integration Process – Keys to Success

All Acquisitions are Different

Assess the Unique Risks and Opportunities of each New Acquisition
 Which aspects of value generation model are needed most

Varying Degrees of Operational Improvement

 Operations and Supply Chain
 Contractual Opportunities & Constraints
 New Business Pipeline
Standard Work
 Culture, Value Drivers, Customer Focus & Key Personnel
 Control Working Capital and Financial Plan

Significant Commonality in Our Actions

95
Acquisition Integration Process - Timeline
Time After
Actions - General
Acquisition (Days)
 Present TransDigm, Our Culture and Value Generation Strategy ………………………..…. 0 - 15
 Control Working Capital and Establish Financial Plan …………………………………………….. 0 - 90
 Evaluate Key Staff Personnel Competency …………………………………………………………….. 0 - 90
 Review OE/AM Contracts and Effect Actions ……………………………………………………….… 15 - 45
 Implement Productivity Plan (Business Wide) and
Ongoing Production Improvement Processes ……………………………………………………. 0 - 90
 Organize Company into Business Units ……………………………………………………………..…... 30 - 180
 Review New Business Projects – Weed & Focus ………………………………………………........ 30 - 60
 Various HR, Legal & Accounting Reviews/Activities ……………………………..................... 0 - 120

Integration Activities First 180 Days

96
CPI’s Electron Device Business
Revenues
 Acquisition Date: June 2024 Commercial
25%

 Purchase Price: ≈ $1.385B Electron Device Business

Defense
 Splitting into Two Operating Units Post-Acquisition 75% Revenues

 EBITDA Margin Profile OEM

30%

 As of Acquisition Date: 25% - 30% EBITDA Margin

 Expect to create private equity-like returns
Aftermarket
70%

Products – Electronic Components & Systems used in the generation, amplification, transmission and reception of
microwave signals

97
Calspan Corporation
Revenues
Automotive 15%
 Acquisition Date: May 2023 Defense 35%

 Purchase Price: ≈ $725M

Commercial
 EBITDA Margin Profile Aerospace
50%
 As of Acquisition Date: ≈ 25% EBITDA Margin
 Expect to create private equity-like returns

Services & Products – Wind Tunnel & Flight Testing and Jet Engine Test Cells

98
DART Aerospace

Revenues
 Acquisition Date: May 2022 Defense
Commercial 20%
80%
 Purchase Price: ≈ $360M Revenues
OEM
 EBITDA Margin Profile 20%

 As of Acquisition Date: ≈ 25% EBITDA Margin

 Expect to create private equity-like returns
Aftermarket
80%

Products – Unique Helicopter Mission Solutions for Aerial Firefighting, Cargo Expansion and Flotation

99
Bolt-on Acquisitions

FPT Industries Revenues Revenues

Defense OEM
 Acquisition Date: March 2024 40%  Acquisition Date: May 2024 15%

 Purchase Price: ≈ $55M  Purchase Price: ≈ $170M

Commercial Aftermarket
 EBITDA Margin Profile 60%  EBITDA Margin Profile 85%

 As of Acquisition Date: ≈ 20% EBITDA Margin  As of Acquisition Date: ≈ 40% EBITDA Margin
 Expect to create private equity-like returns  Expect to create private equity-like returns

Products – Helicopter Fuel & Flotation Systems Products for Aerial Firefighting and Other Liquid
Transportation Solutions

100
Cobham Aero Connectivity
 Acquisition Date: January 2021 Revenues
Commercial
25% Aero Connectivity
 Purchase Price: ≈ $965M

 Split into Two Operating Units Post-Acquisition Defense

75%
 Chelton Ltd (Marlow, UK) Revenues

 Canyon AeroConnect (Prescott, AZ) OEM

30%

 EBITDA Margin Profile

 As of Acquisition Date: ≈ 25% EBITDA Margin Aftermarket

70%
 Expect to create private equity-like returns

Products – Highly Engineered Antennas & Radios

101
Esterline Technologies
 Acquisition Date: March 2019

 Purchase Price: ≈ $4B

 Retained 12 Operating Units

 ≈ 25% of Esterline was Sold Post-Acquisition

 Sold 8 Operating Units for ≈ $1.3B
 Primarily Non-Aerospace Operating Units or
Aerospace Operating Units that did not fit TDG Criteria

 EBITDA Margin Profile

 As of Acquisition Date: ≈ 15% EBITDA Margin

 Current: EBITDA Margins high 30%’s

102
M&A Wrap-Up
Kevin Stein – President & CEO
Actual Performance – Example

Acquisition Model EBITDA Bridge Actual / FCST EBITDA Bridge

2018 Price Productivity New Biz & 2023 2018 Price Productivity New Biz & 2023
Market Market
(Volume) (Volume)

EBITDA hit Year 5 model target in only 1 year of ownership

104
Recent M&A – Slightly Opening the Aperture

Core Business
CORE BUSINESS Total Addressable
Market (1)
Aerospace & Defense, Components and Aftermarket
$120B +

Source: (1) AeroDynamic Advisory, market for Tier 1 / Tier 2 aerospace components and AMKT; estimated $60B OE and $60B Component AMKT

*On May 28, 2024, TransDigm announced it had entered into a definitive agreement to acquire Raptor Scientific. As of June 26, 2024, the acquisition of Raptor Scientific is not closed. 105
How Do We Get 15% - 20% /yr Return?
%/yr
20%
18%
16% Acquisition  Acquisition Strategy

14%
12% Leverage  Capital Structure

10%
8%  Market Growth
6% Organic EBITDA  Value Drivers
Growth  Culture
4%
2%
0%

Consistent Strategy
106
Product Presentation Breakout
Presentations Starting Location

Greg Campbell Calspan President, Calspan Group – A

Jason Abbott Chelton Retiring President, Chelton Ballroom
Ryan Williamson DART Aerospace President, DART Aerospace (Main Floor)

Kevin McHenry Kirkhill EVP / Former Kirkhill President Group – B

Kevin Hanson Korry President, Korry Ballroom
Joe Llanes TA Aerospace President, TA Aerospace (Main Floor)

Chris Blackburn Airborne Systems President, Airborne Systems Group – C

Jason Marlin Champion Aerospace President, Champion Aerospace Arcade
(Downstairs)

Chris Swartz AeroControlex President, AeroControlex

Group – D
Mike Hargas AeroFluid Products President, AeroFluid Products
Arcade
Ron Kato Hartwell Corporation President, Hartwell Corporation (Downstairs)

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Appendix
APPENDIX: Non-GAAP Supplemental Information
EBITDA, EBITDA As Defined, EBITDA As Defined Margin, Adjusted Net Income and Adjusted Earnings Per Share are non-GAAP financial measures presented in this presentation as
supplemental disclosures to income from continuing operations and reported results. TransDigm Group defines EBITDA as earnings before interest, taxes, depreciation and
amortization and defines EBITDA As Defined as EBITDA plus certain non-operating items recorded as corporate expenses, including non-cash compensation charges incurred in
connection with TransDigm Group's stock incentive or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition and divestiture
transaction-related expenses, and refinancing costs. Acquisition and divestiture-related costs represent accounting adjustments to inventory associated with acquisitions of
businesses and product lines that were charged to cost of sales when the inventory was sold; costs incurred to integrate acquired businesses and product lines into the
Company’s operations, facility relocation costs and other acquisition-related costs; transaction-related costs for both acquisitions and divestitures comprising deal fees; legal,
financial and tax diligence expenses and valuation costs that are required to be expensed as incurred and other acquisition accounting adjustments. TransDigm Group defines
Adjusted Net Income as net income plus purchase accounting backlog amortization expense, effects from the sale on businesses, non-cash compensation charges incurred in
connection with TransDigm Group's stock incentive or deferred compensation plans, foreign currency gains and losses, acquisition-integration costs, acquisition and divestiture
transaction-related expenses, and refinancing costs. EBITDA As Defined Margin represents EBITDA As Defined as a percentage of net sales. TransDigm Group defines Adjusted
Earnings Per Share as Adjusted Net Income divided by the total outstanding shares for basic and diluted earnings per share. For more information regarding the computation of
EBITDA, EBITDA As Defined, Adjusted Net Income and Adjusted Earnings Per Share, please see the appendix.

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APPENDIX: Non-GAAP Supplemental Information (Continued)
TransDigm Group presents these non-GAAP financial measures because it believes that they are useful indicators of its operating performance. TransDigm Group believes that
EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties to measure operating performance among companies with
different capital structures, effective tax rates and tax attributes, capitalized asset values and employee compensation structures, all of which can vary substantially from
company to company. In addition, analysts, rating agencies and others use EBITDA to evaluate a company’s ability to incur and service debt. EBITDA As Defined is used to
measure TransDigm Inc.’s compliance with the financial covenant contained in its credit facility. TransDigm Group’s management also uses EBITDA As Defined to review and
assess its operating performance, to prepare its annual budget and financial projections and to review and evaluate its management team in connection with employee incentive
programs. Moreover, TransDigm Group’s management uses EBITDA As Defined to evaluate acquisitions and as a liquidity measure. In addition, TransDigm Group’s management
uses adjusted net income as a measure of comparable operating performance between time periods and among companies as it is reflective of changes in pricing decisions, cost
controls and other factors that affect operating performance.

None of EBITDA, EBITDA As Defined, EBITDA As Defined Margin, Adjusted Net Income or Adjusted Earnings Per Share is a measurement of financial performance under U.S.
GAAP and such financial measures should not be considered as an alternative to net income, operating income, earnings per share, cash flows from operating activities or other
measures of performance determined in accordance with U.S. GAAP. In addition, TransDigm Group’s calculation of these non-GAAP financial measures may not be comparable to
the calculation of similarly titled measures reported by other companies.

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APPENDIX: Non-GAAP Supplemental Information (Continued)
Although we use EBITDA and EBITDA As Defined as measures to assess the performance of our business and for the other purposes set forth above, the use of these non-GAAP
financial measures as analytical tools has limitations, and you should not consider any of them in isolation, or as a substitute for analysis of our results of operations as reported
in accordance with U.S. GAAP. Some of these limitations are:

 neither EBITDA nor EBITDA As Defined reflects the significant interest expense, or the cash requirements, necessary to service interest payments on our indebtedness;

 although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and neither EBITDA nor
EBITDA As Defined reflects any cash requirements for such replacements;

 the omission of the substantial amortization expense associated with our intangible assets further limits the usefulness of EBITDA and EBITDA As Defined;

 neither EBITDA nor EBITDA As Defined includes the payment of taxes, which is a necessary element of our operations; and

 EBITDA As Defined excludes the cash expense we have incurred to integrate acquired businesses into our operations, which is a necessary element of certain of our
acquisitions.

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APPENDIX: Reconciliation of Income from Continuing Operations
to EBITDA and EBITDA As Defined

($ in millions) 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Revenue $ 52 $ 57 $ 63 $ 78 $ 111 $ 131 $ 151 $ 201 $ 249 $ 293 $ 301 $ 374 $ 435 $ 593 $ 714 $ 762 $ 828

Income (Loss) from continuing operations (5) - 1 3 14 (17) 11 14 31 (76) 14 35 25 89 133 163 163
Depreciation and amortization expense 7 7 7 6 7 6 7 9 13 10 18 17 16 24 25 28 30
Interest expense, net 5 5 5 3 3 23 28 32 37 43 75 80 77 92 93 84 112
Income tax provision (benefit) (2) - 2 5 13 (2) 8 9 17 (45) 6 23 16 53 74 88 88
Warrant put value adjustment 1 1 2 5 7 - - - - - - - - - - - -
Extraordinary item - - - 2 - - - - - - - - - - - - -

EBITDA, excluding discontinued operations 6 13 17 24 44 10 54 64 98 (68) 113 155 134 258 325 $363 $393

Merger expense - - - - - 40 - - - 176 - - - - - - -

Acquisition and divestiture-related costs 4 - - 1 - 1 - 8 - 15 20 2 1 9 2 6 12
Non-cash comp and def comp expense - - - - - - - - - 1 6 7 1 6 6 6 7
One-time special bonus - - - - - - - - - - - - 6 - - - -
Public offering costs - - - - - - - - - - - - 3 2 - - -
Refinancing costs - - - - - - - - - - - - 49 - - - -

EBITDA As Defined $10 $13 $17 $25 $44 $51 $54 $72 $98 $124 $139 $164 $194 $275 $333 $375 $412
EBITDA As Defined Margin 19.2% 22.8% 27.0% 32.1% 39.6% 38.9% 35.8% 35.8% 39.4% 42.3% 46.2% 43.9% 44.6% 46.4% 46.6% 49.2% 49.8%

Please see the Special Notice Regarding Pro Forma and Non – GAAP Information. 112
APPENDIX: Reconciliation of Income from Continuing Operations
to EBITDA and EBITDA As Defined

LTM (1)
($ in millions) 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 3/30/24 2024E

Revenue $ 1,206 $ 1,700 $ 1,924 $ 2,373 $ 2,707 $ 3,171 $ 3,504 $ 3,811 $ 5,223 $ 5,103 $ 4,798 $ 5,429 $ 6,585 $ 7,304 $ 7,740

Income (Loss) from continuing operations 152 325 303 307 447 586 629 962 841 653 681 866 1,299 1,552 1,647
Depreciation and amortization expense 61 68 73 96 94 122 141 129 226 283 253 253 268 282 294
Interest expense, net 185 212 271 348 419 484 602 663 859 1,029 1,059 1,076 1,164 1,209 1,320
Income tax provision (benefit) 77 163 146 142 189 182 209 24 222 87 34 261 417 475 491

EBITDA, excluding discontinued operations $475 $768 $793 $893 $1,149 $1,374 $1,581 $1,778 $2,148 $2,052 $2,027 $2,456 $3,148 $3,518 $3,752

Acquisition and divestiture-related costs 30 19 26 21 37 57 31 29 169 31 35 18 18 28 41

Non-cash comp and deferred comp expense 13 22 49 26 32 48 46 59 93 93 130 184 157 191 215
Refinancing costs 72 - 30 132 18 16 40 6 3 28 37 1 56 75 29
COVID-19 pandemic restructuring costs - - - - - - - - - 54 40 - - - -
Gain on sale of businesses - - - - - - - - - - (69) (7) - - -
Other - - 2 1 (2) - 13 5 6 20 (11) (6) 16 - 8

EBITDA As Defined $590 $809 $900 $1,073 $1,234 $1,495 $1,711 $1,877 $2,419 $2,278 $2,189 $2,646 $3,395 $3,812 $4,045
EBITDA As Defined Margin 48.9% 47.6% 46.8% 45.2% 45.6% 47.1% 48.8% 49.3% 46.3% 44.6% 45.6% 48.7% 51.6% 52.2% 52.3%

(1) EBITDA As Defined information under 2024E reflects the mid-point of the guidance range for the fiscal year ending 9/30/24 that was issued on 5/7/24. TransDigm only updates guidance quarterly and this presentation does not confirm or update
guidance for Analyst Day.

Please see the Special Notice Regarding Pro Forma and Non – GAAP Information.
113
APPENDIX: Reconciliation of Adjusted Net Income to Net Income
and Free Cash Flow Summary

($ a nd s ha res i n mi l l i ons ) 2019 2020 2021 2022 2023 2024E

Net i ncome from conti nui ng opera ti ons $ 841 $ 653 $ 681 $ 866 $ 1,299 $ 1,647
Gros s a djus tments from EBITDA to EBITDA a s Defi ned 271 226 162 190 247 293
Purcha s e a ccounti ng ba ckl og a morti za ti on 38 53 11 7 4 4
Ta x a djus tment (122) (103) (146) (65) (73) (69)
Adjusted net income $ 1,028 $ 829 $ 708 $ 998 $ 1,477 $ 1,875

Wei ghted-a vg s hs o/s under the two-cl a s s method 56.3 57.3 58.4 58.2 57.2 57.85

Adjusted earnings per share $ 18.27 $ 14.47 $ 12.13 $ 17.14 $ 25.84 $ 32.42

Fiscal year ended September 30, LTM

($ i n mi l l i ons ) 2017 2018 2019 2020 2021 2022 2023 3/30/24

EBITDA as Defined $1,711 $1,877 $2,419 $2,278 $2,189 $2,646 $3,395 $3,812

Ca pex (71) (73) (102) (105) (105) (119) (139) (157)

Ca s h i nteres t expens e (588) (635) (878) (923) (1,008) (1,057) (1,160) (1,160)

Ca s h ta xes (185) (129) (215) (223) (83) (220) (260) (456)

Free cash flow $867 $1,040 $1,224 $1,027 $993 $1,250 $1,836 $2,039

% of EBITDA as Defined 50.7% 55.4% 50.6% 45.1% 45.4% 47.2% 54.1% 53.5%

114