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PUBLIC INFORMATION 9M 2026 Results 10/29/2026||Earnings Call with Investors and Analysts
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU aero engines group companies. | MTU proprietary information Market Environment & Business Review Dr. Johannes Bussmann Chief Executive Officer 01 2October 29, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION Group revenue growth driven by Commercial MRO and Military business Strong MRO and spare parts business supports margin resilience Strong FCF growth driven by lower GTF AOG payments despite ongoing investments REVENUE adj., mEUR 7,116 1,042/14.6% EBIT adj. mEUR/margin 466/62% FCF mEUR/CCR 9M 2026 Strong 9M performance underpins 2026 Guidance update Growth +13% Growth +5% Growth +67% 3 Profitable growth and cash flow momentum support updated 2026 guidance October 29, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION Demand continues to outpace industry capacity October 29, 2026 Q3 2026 Results - Investor Relations 4Data source: IATA Air traffic August 2026 (ytd) 85.1% Passenger load factor ~900 bn RPK Global passenger traffic Aug. ytd Global cargo traffic Aug. ytd +4.6 % CTK Current jet fuel price ~150–200 USD/bbl Strong demand & constrained supply For MTU, robust OEM and MRO demand continues to outweigh ongoing supply chain challenges Global passenger and cargo traffic demand remains broadly resilient, amid ongoing geopolitical tensions and elevated jet fuel prices Airline demand for aircraft and MRO services remains robust, with no material changes in fleet or maintenance behavior Sustained fleet utilization and low engine retirements continue to support strong aftermarket demand Demand continues to exceed industry supply, with capacity and supply-chain constraints remaining the key limiting factors
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION GTFTM with substantial positive momentum October 29, 2026 Q3 2026 Results - Investor Relations 5 GTFTM fleet management plan on track Powder metal parts inspections and replacements on track Higher engine output in the GTFTM MRO network AOG levels to improve further Powder metal-related AOG compensation to be settled by end of 2026 GTFTM Advantage with first important milestones First GTFTM Advantage engines assembled and delivered by MTU this summer First GTFTM Advantage powered A321XLR delivered to United Airlines in Sept. 2026 PW1100G-JM production lines will transition to the Advantage specification by 2028 across the entire network Hot Section+ upgrade expected in 2027 United Airlines received the first GTFTM Advantage powered A321XLR in September 2026
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION October 29, 2026 Q3 2026 Results - Investor Relations 6 Official opening on March 13, 2025 MTU Maintenance Jinwan reached 100 shop visits within 18 months of opening MTU Maintenance Fort Worth inducts first LEAP-1B engine Official opening on July 8, 2026 Successful further expansion of our global MRO network • Annual capacity of 260 shop visits • Technolgy-driven processes and skilled workforce support growing GTF MRO demand • Target capacity of up to 240 annual shop visits • GEnx capability planned by decade-end • Expands MTU’s North American MRO footprint
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU aero engines group companies. | MTU proprietary information Financials Katja Garcia Vila Chief Financial Officer 02 7October 29, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION Financial Highlights 9M 2026 – Strong business performance with FCF CCR at 62% 8 EBIT adj. in mEUR/margin in % Revenue adj. in mEUR Net income adj. in mEUR Free cash flow adj. in mEUR • Revenue growth driven by military business and MRO segment • Up 17% in USD • GTF MRO revenue share at 45% • EBIT margin at 14.6% impacted by overproportional MRO revenue growth • Strong spare parts and solid military business compensate engine OE mix headwinds • Net income growth roughly in line with EBIT • Strong FCF improvement, reaching a CCR of 62% • 9M FCF exceeds already FY 2025 levels • Includes GTF AOG compensation payments of ~170 mUSD 279 466 9M 2025 9M 2026 6,278 7,116 9M 2025 9M 2026 995 1,042 9M 2025 9M 2026 720 751 9M 2025 9M 2026 15.9% 14.6% +13% +5% +67% +4% October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 225 212 640 633 Q3 2025 Q3 2026 9M 2025 9M 2026 158 174 418 472 488 568 1,639 1,619 Q3 2025 Q3 2026 9M 2025 9M 2026 OEM profitability remains strong and in line with FY expectations October 29, 2026 Q3 2026 Results - Investor Relations 9 Q3 2026 9M 2026 28.6% 31.1% 30.3% 34.8% • Organic com. OE USD sales up high single digit % • Higher installed engine deliveries • Normalized spare engine ratio as expected • Organic com. spare parts USD sales up mid teens% • Strong revenue contribution from NGFE and TP400 646 15% OEM 742 2,057 2,091 16% Com.OEM 10% Mil. OEM 2% OEM -1% Com.OEM 13% Mil. OEM -6% -1% • Organic com. OE USD sales up mid single digit% • Increased share of installed engines deliveries • Spare engines deliveries almost stable • Organic com. spare parts USD sales up mid teens% • Military revenues driven by EJ200, NGFE and TP400 Q3 2026 • Strong spare part revenues and solid military business compensated by higher installed engine deliveries and lower spare engine ratio 9M 2026 • Strong earnings from solid spare parts and military business 9M Growth ’25 vs. ‘26 Q3 Growth ’25 vs. ‘26 9M Growth ’25 vs. ‘26 Q3 Growth ’25 vs. ‘26 Revenues adj. in mEUR EBIT adj. in mEUR
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 114 137 355 408 Q3 2025 Q3 2026 9M 2025 9M 2026 MRO continued its strong performance with resilient EBIT margin at 8% October 29, 2026 10 1,502 1,717 4,301 5,108 Q3 2025 Q3 2026 9M 2025 9M 2026 • Core* USD MRO revenues up 18% • GTFTM MRO revenue share at 45% 14% EUR 19% EUR 20% 15% • Margin supported by strong growth of profitable core MRO business • Solid Core MRO business offsets impacts from capacity ramp up and higher GTF MRO revenue share 7.6% 8.3% 8.0% 13% USD 23% USD • Core* USD MRO revenues up 11% • Core MRO growth supported by MLS, parts repair business and high independent volumes • GTFTM MRO revenue share at 45% Q3 2026 Results - Investor Relations Q3 2026 9M 2026 Q3 2026 9M 2026 Revenues adj. in mEUR EBIT adj. in mEUR 9M Growth ’25 vs. ‘26 Q3 Growth ’25 vs. ‘26 9M Growth ’25 vs. ‘26 Q3 Growth ’25 vs. ‘26 8.0% *) incl. MLS
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION CCR improved to 62%, a significant step up October 29, 2026 11 • Lower GTF AOG compensation 60 mUSD (Q3 25: 100 mUSD) • Received military prepayments • Increase in payables due to business ramp up • Lower GTF AOG compensation 170 mUSD (9M 25: 250 mUSD) • Received military prepayments • Increase in payables and provisions due to business ramp up • Supportive incoming dividends 67 172 279 466 Q3 25 Q3 26 9M 2025 9M 2026 28% 69% 39% 62%156% 67% Q3 2026 Results - Investor Relations Q3 2026 9M 20269M Growth ’25 vs. ‘26 Q3 Growth ’25 vs. ‘26FCF adj. in mEUR CCR in %
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION USD sensitivity for 2026 USD exchange rate – Active hedging enhances earnings predictability Hedging model/USD exposure • Approx. 75% of USD revenues are covered with USD costs via procurement (“natural hedging”) • USD sensitivity will rise over the next years due to increasing net USD exposure Hedge book as of September 30, 2026 in mUSD Rolling hedging model • Continuous exchange rate analysis and new hedging contracts • Hedging period: maximum 20 following quarters • Target for hedge coverage: • Year 0: 100% • Year +1: 75 – 90% • Year +2: 30 – 70% • Year +3: 0 – 50% Average hedge rate (USD/EUR) 12 2,120 2,360 1,160 460 2026 2027 2028 2029 FX sensitivity: 5 cent deviation in mEUR ~ 100 mEUR revenue impact 1.14 1.19 1.16 1.18 October 29, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION Strong group order book at 29.8 bnEUR supports future growth October 29, 2026 Q3 2026 Results - Investor Relations 13 Order book Dec 31, 2025 Order book Sept 30, 2026 29.5 29.8 +1% USD spot rate 1.1750 USD spot rate 1.1355 29.8 bnEUR order backlog providing production coverage for approximately three years Sustained demand momentum across both OEM and MRO Strong multi-year visibility supported by a highly recurring business model
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU aero engines group companies. | PUBLIC INFORMATION 03 Guidance Dr. Johannes Bussmann Chief Executive Officer
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION Guidance 2026 – increased revenue und cash conversion rate outlook October 29, 2026 Q3 2026 Results - Investor Relations 15 Net income adj. ~ Growth in line with EBIT adj. (unchanged) EBIT adj. ~1.35–1.45 bnEUR (unchanged) Total group sales ~9.5–9.7 bnEUR (prev. 9.2 – 9.7 bnEUR) Cash conversion rate ~ 55–60% (prev. 50 – 60%) Guidance 2026 supports 2030 mid-term ambition Guidance 2026 based on 9M actuals, average EUR/USD 1.15 for Q4
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION Key business driver 2026 update October 29, 2026 Q3 2026 Results - Investor Relations 16 Com. Spare parts USD revenues Up mid teens % (prev. up low to mid teens %) Com. OE USD revenues Up mid to high single % (prev. up mid to high teens %) Guidance 2026 supports 2030 mid-term ambition Guidance 2026 based on 9 M actuals, average EUR/USD 1.15 for Q4 Organic revenue Military revenues in EUR Up mid teens % (unchanged) Commercial MRO USD revenues Up mid teens % (prev. up low to mid teens %)
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION October 29, 2026 Improving FCF paves way for shareholder returns Improving FCF paves way for shareholder returns Strong performance drives updated 2026 guidance Strong performance drives updated 2026 guidance CMD on Nov 30, 2026 presenting MTU’s next phase of growth CMD on Nov 30, 2026 presenting MTU’s next phase of growth GTFTM fleet management plan on track GTFTM fleet management plan on track Q3 2026 Results - Investor Relations 9M 2026 Key takeaways 17 Entry into service of first GTFTM Advantage Entry into service of first GTFTM Advantage
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU aero engines group companies. | PUBLIC INFORMATION Appendix
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 19 Profit & Loss Appendix (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change Revenues 2,132 2,423 14% 6,329 7,089 12% Revenues adjusted 2,138 2,429 14% 6,278 7,116 13% Total cost of sales -1,732 -1,981 -5,101 -5,851 Gross profit 400 442 10% 1,229 1,239 1% R&D according to IFRS -30 -36 -77 -89 SG&A -83 -98 -243 -282 Other operating income (expense) 6 -15 -13 -35 P&L of companies accounted at equity and equity investments 35 47 137 171 EBIT reported 329 339 3% 1,033 1,004 -3% EBIT adjusted 339 349 3% 995 1,042 5% EBIT adjusted margin % 15.8% 14.4% 15.9% 14.6% Financial result -20 -29 -1 -87 Profit before tax (EBT) 309 311 1% 1,032 917 -11% Taxes (IFRS) -58 -84 -269 -242 Net Income reported 250 227 -9% 763 675 -12% Net Income adj. 241 249 720 751 EPS reported* 4.63 4.18 14.00 12.16 EPS adj.* 4.46 4.57 13.21 13.57 * without non-controlling interests October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 20 Appendix Reconciliation to adjusted Key Performance Indicators (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change EBIT reported 329 339 3% 1,033 1,004 -3% Adjustment (PPA Depreciation & Amortization) 5 4 14 11 Adjustment (IAE Upshare) 7 6 20 19 Adjustment (PW1100G Powder Metal) -1 0 -71 7 EBIT adjusted 339 349 3% 995 1,042 5% thereof P&L of companies accounted "at equity" 34 47 136 171 Interest result -15 -19 -39 -55 Interest for pension provisions -7 -7 -20 -21 EBT adj. w/o P&L "at equity" 283 277 -2% 801 795 -1% Tax rate normalized -27% -27% -27% -27% Taxes -77 -75 -216 -215 Net Income adj. 241 249 3% 720 751 4% EPS adj.* 4.46 4.57 3% 13.21 13.57 3% * without non-controlling interests October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 21 Appendix Reconciliation to adjusted Key Performance Indicators (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change Revenues 2,132 2,423 14% 6,329 7,089 12% Adjustment (PW1100G Powder Metal) -1 0 -71 7 Adjustment (IAE Upshare) 7 6 20 19 Revenues adjusted 2,138 2,429 14% 6,278 7,116 13% October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 22 Segment Revenues and EBIT adj. Appendix (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change Revenues Group* 2,138 2,429 14% 6,278 7,116 13% OEM Commercial* 488 568 16% 1,639 1,619 -1% OEM Military 158 174 10% 418 472 13% MRO 1,502 1,717 14% 4,301 5,108 19% Consolidation -11 -30 -80 -83 EBIT adjusted Group 339 349 3% 995 1,042 5% OEM (Commercial / Military) 225 212 -6% 640 633 -1% MRO 114 137 20% 355 408 15% Consolidation 0 0 1 0 EBIT adjusted margin Group 15.8% 14.4% 15.9% 14.6% OEM (Commercial / Military) 34.8% 28.6% 31.1% 30.3% MRO 7.6% 8.0% 8.3% 8.0% * adjusted October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 23 Research & Development Appendix (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change Total R&D 84 101 20% 275 296 8% Customer funded R&D -32 -40 -26% -94 -119 -26% Company expensed R&D 52 61 16% 181 178 -2% Capitalization of R&D -14 -12 -77 -57 Amortisation 9 10 26 29 Total R&D impact P&L (on EBIT) 47 58 23% 129 149 16% thereof booked into sales and COGS 18 22 53 60 thereof booked into R&D according to IFRS (P&L) 30 36 77 89 October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 24 Financial Result Appendix (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change Interest income 7 8 9% 24 22 -7% Interest expense -22 -27 -24% -62 -77 -23% Interest result -15 -19 -31% -39 -55 -42% Financial result on other items -5 -10 38 -32 US$ / non cash valuations / others 1 -2 58 -11 Interest for pension provisions -7 -7 -20 -21 Financial result -20 -29 -44% -1 -87 <-300% October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION MTU’s Cash development January – September 2026 October 29th, 2026 Q3 2026 Results - Investor Relations 25
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 26 Appendix Cash Flow (in mEUR) 9M 2025 9M 2026 Change Net Income IFRS 763 675 -12% Depreciation and amortization 302 338 Change in provisions and liabilities -157 276 Change in working capital -316 -579 Taxes 124 76 Interest, derivatives, others -186 94 Cash Flow from operating activities 530 879 66% Net Investment in intangible assets -58 -53 Net Investment in R&D payments and entry fees -36 -21 Net Capital expenditure on property, plant and equipment -154 -280 Net Investments in financial assets -13 -52 Cash Flow from investing activities -261 -406 -55% Adjustments 10 -8 Free Cash Flow 279 466 67% Cash Flow from financing activities -762 -173 77% Cash and cash equivalents at 30.09. 1,235 1,563 October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 27 Appendix Net debt (in mEUR) 31.12.2025 30.09.2026 Change Bonds and notes 853 846 Convertible bonds 496 495 Promissory note 308 306 Financial liabilities to bank 11 163 Financial lease liabilities 326 445 Financial liabilities to related companies 1 2 Program liabilities with financing character 433 413 thereof arising from acquisition of program participations 185 187 thereof from compensation payments due to program participations 248 226 Gross financial debt 2,428 2,669 10% Cash and cash equivalents 1,256 1,563 Loans to third parties 36 29 Financial assets 1,291 1,593 23% Net financial debt 1,136 1,076 -5% October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 28 Working capital Appendix (in mEUR) 31.12.2025 30.09.2026 Change Inventories 2,018 2,235 Prepayments -379 -529 Receivables 4,215 5,058 Payables -2,622 -2,924 Working Capital 3,232 3,840 19% October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 29 Balance Sheet Appendix (in mEUR) 31.12.2025 30.09.2026 Change Intangible assets 1,490 1,505 Property, plant, equipment 1,978 2,146 other non-current assets 1,671 1,539 Total non-current assets 5,139 5,190 1% Current assets 7,582 9,005 19% Total assets 12,721 14,195 12% Equity 4,375 4,805 10% Non-current liabilities 3,090 3,061 -1% Current liabilities 5,255 6,328 20% Total equity and liabilities 12,721 14,195 12% thereof pension provisions 671 648 October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION 30 PPA Depreciation / Amortization Appendix (in mEUR) Q3 2025 Q3 2026 Change 9M 2025 9M 2026 Change OEM 55 61 173 181 MRO 39 59 125 157 Total depreciation / amortization* 95 120 27% 298 338 13% PPA OEM 5 4 14 11 PPA MRO 0 0 0 0 IAE Upshare OEM 7 6 20 19 PPA depreciation / amortization & IAE Upshare amortization (EBIT adjustments) 11 10 -9% 34 31 -9% OEM 44 51 139 150 MRO 39 59 125 157 Depreciation / amortization w/o PPA and w/o IAE Upshare 83 110 31% 265 307 16% * incl. amortization of intangible assets, capitalized program assets and purchased development October 29th, 2026 Q3 2026 Results - Investor Relations
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© MTU Aero Engines AG | The information contained herein is proprietary to the MTU Aero Engines group companies. |PUBLIC INFORMATION October 29th, 2026 Q3 2026 Results - Investor Relations 31 Proprietary Notice This document contains proprietary information of the MTU Aero Engines AG group companies. The document and its contents shall not be copied or disclosed to any third party or used for any purpose other than that for which it is provided, without the prior written agreement of MTU Aero Engines AG. Cautionary note regarding forward-looking statements Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, competition from other countries in MTU Aero Engines’ industry and MTU Aero Engines’ ability to retain or increase its market share, the cyclicality of the airline industry, risks relating to MTU Aero Engines’ participation in consortia and risk and revenue sharing agreements for new aero engine programs, risks associated with the capital markets,currency exchange rate fluctuations, regulations affecting MTU Aero Engines’ business and MTU Aero Engines’ ability to respond to changes in the regulatory environment, and other factors. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. MTU Aero Engines assumes no obligation to update any forward-looking statement.