Fourth Quarter FY 20 Earnings Conference Call Daniel J. Crowley, - PowerPoint PPT Presentation

Fourth Quarter FY’ 20 Earnings Conference Call Daniel J. Crowley, President and Chief Executive Officer James F. McCabe Jr., Senior Vice President and Chief Financial Officer

Forward Looking Statements 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 the use of 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, objectives, expectations, intentions, aerospace market conditions, aircraft production rates, financial and operational performance, 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 availa bility of raw materials or skilled personnel, changes in governmental regulation and oversight and international hostilities, pandemics, and terrorism. 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, 2019. TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 2

TGI – The Big Picture • FY20 results demonstrated benefits of multi-year transformation • Entered FY21 with positive YOY momentum • Focused on Protecting our People and Company during historic pandemic • Rapidly right-sizing Triumph to reflect post-crisis reality • OEM rates provide safety net with strong defense opportunities • Actions from Structures Strategic Review on track to finish in FY21 Executed in FY20 – Responding to COVID-19 Challenge – Positioning for Recovery TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 3

TGI Response to COVID-19 Sufficient Liquidity with Charitable Contributions Prioritizing Health and Closely Engaging with over $550M and $120M in including producing masks, Safety of Employees by Customers & Suppliers to additional cost reductions ventilator valves, 3D following strict guidelines reliably meet demand and other protective printing face shields: for essential factories: measures donating through Triumph implementing remote Group Foundation work where possible Protecting the Health and Safety of our People and Company while Partnering with Customers TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 4

FY21 - Managing Through COVID-19 Crisis Triumph Group Response Pre-COVID Outlook Post-COVID Outlook • Collaborate with our customers on • Feb 2020 forecasts reflected 5-8% • Decelerating Narrow-body and Wide- demand changes — secure sustaining Revenue and 8-12% Operating Margin body OEM build rates throughput CAGRs over FY21-24 • Reduced Commercial MRO demand • Accelerate TAS restructuring and • FY21 EBITDAP Margins of 12%+ on • Increased Defense OEM and MRO program exits (G280, G650, B747) track to peer-like 15% over forecast demand period • Right-size workforce with over 4,200 • Lower Cash from Operations while • FY21 last year of TAS Restructuring to furloughs and 700 reductions in force funding TAS program exits driving arrive at TGI Future State • Over $120M of Austerity Measures higher cash use in 1HFY21 • Final Year of modest cash use to • Engage supply chain to slow deliveries, complete TAS exit/shutdowns conserve cash, protect critical sources • Pivot to stronger markets Positioning to Exit Crisis as Leaner, More Profitable Triumph TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 5

FY21 Key De-Risking Actions Action Impact • Austerity measures including base pay reductions, furloughs, Improve EBITDAP • 401k match suspension, cancel merit increases, reduce indirect Increase FCF • overtime, no new relocations Covenant Compliance • Improve EBITDAP Reductions-in-Force (employees & contractors) • Increase FCF • Suspend dividend payment to shareholders Improve FCF • Detailed review of SG&A & OVHD to identify additional cost Improve EBITDAP • reductions Increase FCF • Defer capital expenditures Improve FCF • CF for debt reduction • Continued divestiture of non-core assets Minimal loss of EBITDA • Direct focus on core assets • Improve EBITDAP Favorable negotiations of customer settlements • Increase FCF Over $120M Cost Reduction Initiatives Mitigate Revenue Headwinds in FY21 6 TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 6 Triumph Group, Inc. - Proprietary & Confidential

FY20 Results Overview Triumph delivered strong results in FY20 reflecting success in company’s multi -year transformation to be a more predictable and profitable company. − Met or exceeded full-year revenue, cash flow and adjusted EPS guidance − Delivered on commitment to generate positive free cash flow of $57M − Strong revenue of $2.9B despite 737 MAX rates and early virus headwinds − Improved profitability with adjusted operating margin up to 7% Operational and Strategic Highlights include: − Achieved best-ever levels of Safety and Quality − Recertified all major factories to AS9100 and related standards − Completed consolidations of Heat Transfer and Interior MRO factories − Exited Embraer E2, and Gulfstream G650 Wing assembly programs & divested non-core Nashville Large Structures site headwinds Transformation Enabled Strong FY20 Performance – Entered Crisis with Momentum TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 7

Commercial Market Conditions Category Comments • IATA Demand RPK Forecast (yr/yr), Q2 (-82%), Q3 (-56%), Q4 (-33%) Air Travel • - 45 to -55% for full year 2020 (IATA estimates - 48% RPK’s) (demand) • China recovering, early upticks in US air traffic week over week • -70% in Q2 2020 (commercial transports) • MRO Activity -35% to -55% yr/yr (for full year, recovering Q3-Q4 CY20) • Triumph has lower exposure to heavy maintenance and consumables • -30% to -40% for balance of the year (commercial transport) Sources: Bain - April 3 rd COVID-19 Initial • Stable military depending on “factory” COVID conditions Implications for commercial OEM Production • Aerospace Boeing and Airbus confirmed sustaining rates in April Earnings Calls IATA – April 14 th COVID-19 Updated Impact Assessment Boeing and Airbus executive • Approximately 16,800 commercial transport aircrafts were parked at the trough discussions Cirium April 14 th Stored (mid-April) Parked Fleets Commercial Aircraft Utilization • Inflection point reached with aircraft beginning to return to service (1,300 Update Cirium Daily Fleet Updates aircrafts since May 1). Now 15,000 aircraft remain parked Navigating Macroeconomic Effects of COVID-19 with Agility Given Diversity of Portfolio TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 8

Factors Supporting Aviation Recovery Ticket Volume Parked Aircraft Utilization Load Factors Up 8% since 4/12 -1,800 since 4/24 Up 100% in US last 30d Up 20% last 30d US Airline Liquidity Defense OEM Production Daily Flights Up 20% last 30d Improved payments +$40B Since Feb 26th Confirmed OEM Rates Early Signs of Recovery Support Forecast Confidence TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 9

Triumph Platform Diversity Thermal Systems KC-46 & 767 Stable Cargo Carriers MRO Military MRO • C- 17 Nacelles, TR’s • F18 AMAD’s • T-700 Engine Control • V- 22 PCA’s • CH-47 Fuel System • AH-64 Thermal Sys. Single Largest Program Strong Key Segment Accelerating 100% IP Driven New Mil. Platforms New Com. Platforms Next Gen Designs Military Upgrades • Mil. Fuel Pumps • Mil. AMAD • Mil. Thermal System • Mil. Landing Gear • Thermoplastics Active Engagements CTS-800 777X and A321XLR T-7A, MQ-25 and FVL Stable Base, Positioned for Growth TRIUMPH GROUP / Q4 FY ’20 / MAY 28, 2020 10