1. Company Presentation June 2013 www.thermalengineering.co.uk

2. Thermal Engineering  Established in 1988  Specialising in components for aircraft engines  Hot and cold forming of hard aerospace alloys  Fabrication and assemblies  Thermal insulation and protection  £16m revenue, 240 people  Direct supply relationship with Rolls- Royce and other OEMs © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential2

3. Growth story 2012 performance  30% growth in sales to £16.2m (US$25m)  10%+ increase in employees to 234  Supplying growth programmes such as Trent XWB, Trent 1000, GP7200, BR725 Ambitious targets  Maintaining leadership position in forming of high temperature aerospace alloys  15% annual growth leading to £32m (US$50m) sales by 2017  Strengthening customer relationships with OEMs and their Tier 1 partners  Investing in additional hot forming capacity  Substantial recruitment and training programme © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential3

4. Global customer base © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential4 N. Ireland Germany Canada Mexico Spain Austria Italy Singapore Sweden UK France

5. Core competencies © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential5 High temperature or light weight applications Engine components Airframe components Insulation systems Nacelle equipment

6. Large Civil Engine Programmes © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential6 Trent XWB Airbus A350 Trent 1000 Boeing B787 GP7200 Airbus A380 Trent 900 Airbus A380 Inter Compressor Case Ti inner ducts Ti Outer ducts Ti Firewall supports Tail Bearing Housing TBH skins Low Pressure Turbine Transition skins Cones Outer skins Polygonal skins Baffle Assemblies Turbine exhaust case TEC Case skins Low Pressure Turbine Baffle Assemblies Stiffeners Cones

7. Small Civil Engine Programmes © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential7 BR725 Gulfstream G650 V2500 Airbus A320 CFM56 Nacelle Airbus A320/Boeing 737 BR710 Bombardier Baffles Heat shields Baffles Heat shields LPT insulation segments LPT insulation strips Fire shields Acoustic panels Thrust Reverser panels Acoustic skins Door hinge fire shields Silencers Brackets Insulation strips

8. Defence Engine Programmes © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential8 Titanium plates Heat shields RB199 Tornado TP400 Airbus A400M EJ200 Typhoon Titanium Case Cooling Duct Vanes pressings Pre-cooler insulation Heat shields ECS duct insulation

9. Product range © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential9 Tail bearing housing Skin structures Stiffners Cones Low pressure turbine Case cooling ducts Vane assemblies Cones Insulation segments Combustor Baffle assemblies Duct skins Firewall supports Composite Fan blade Metallic trailing edges Fan case Acoustic panel liners Acoustic trays Insulation panels – outer fairings Externals Silencers Fireshields Heatshields Brackets Nacelle Pre cooler ducts Thrust reverser panels Exhaust details Stiffeners Acoustic panels

10. Engine Products © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential10 Baffle Rings Vanes & skins Silencer & Duct assemblies

11. Nacelle Products  Cold forming and Aluminium Stretch forming © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential11 Acoustic panels Thrust reverser panels Acoustic panels

12. Key Capabilities - Forming  Hot forming – 4 presses  2 with draw form capability (1 of which has SPF capability)  All 4 presses have standard single action form capabilities  Hot Die Quench – 1 Press  With draw form capability  Hot Brake Press – 1 Press  Cold Draw forming – 7 presses  Upto 800T  Stretch forming – 2 presses © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential12 Hot Forming Cold Forming Stretch Forming

13. Key Capabilities – Machining and Welding  Laser – 2 Trumpf 5 and 6 axis laser cells  Laser Cutting and drilling  Laser Welding  Fusion Welding  TIG welding  Bench Shielded welding facilities  1 Argon chamber with rotary table facility © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential13 Laser Machining Welding

14. Key Capabilities - Insulation  Wide range of bespoke airframe and system thermal protection products  Encapsulated insulation systems for use on aero engine programs.  These systems provide insulation with an operating temperature of upto 1200˚C  Metallic Insulation  Blankets and heat shields encapsulating insulation material between metallic foils  Soft Insulation  Blankets and heat shields encapsulating insulation material between fabric foils © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential14 Metallic Insulation Soft Insulation

15. Key Capabilities – other facilities  Heat Treatment  Nadcap approved heat treatment facilities  Chemical treatments and blasting  For surface finishing  Non Destructive Testing – Penetrant Inspection (PFD)  Conventional Machining – Milling and Turning  Assembly cells © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential15 Heat Treatment Assembly Penetrant Inspection Machining

16. Quality Approvals  CMM and Faro  CNC CMM capabilities  Faro arm  AS9100 Rev C approved  Nadcap approved special processes © 2013 Thermal Engineering Ltd | Jun 2013 | Confidential16