MTU Aero Engines AG Company Presentation. January 2018 Investor Relations

MTU Aero Engines AG Company Presentation January 2018 Investor Relations

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 2

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 3

MTU is Built on Three Pillars Commercial Business Military Business Commercial MRO Risk and revenue sharing partner Capability to develop and World's largest independent engine with major OEMs manufacture entire engines MRO provider (Maintenance, Repair Focus on Low-Pressure Turbines, R&D is typically customer financed and Overhaul) High-Pressure Compressors and MTU has high shares in key Exposure to highest growth engines Turbine Center Frames European military programs (V2500, CFM56, CF34, GE90) Approx. 30% of active aircraft with Strong presence in Asia MTU participation Sales* 2,401 m (50 %) 504 m (10 %) 1,914m (40 %) Business OEM MRO EBIT margin* 11.1 % 9.5 % MTU Group* Sales: 4,733 m / EBIT margin: 10.6 % * FY 2016 - figures 4

Key Investment Highlights Attractive Growth outlook Revenues expected to double from 2010 to 2020 Well underpinned by a strong order book and a passenger traffic growth trend Strong market position PW800 strengthens position in the future business jet market PW1000G engines dominate future regional jet market by 90% Narrowbodies: V2500 strong market base, PW1100G EIS 2016 Widebodies: GE9x participation secured, GEnx 60% market share on B787, GP7000 50% market share on A380 Commercial MRO: Diversified market approach and broad engine portfolio secures over proportional growth High barriers to entry Leading technology (in design & manufacturing) Certification requirements and regulatory approvals Substantial up-front investment required Long term contracts 5

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 6

Overview of Aero Engine Industry Players Key market participants in large engine business OEMs Engine sub-system (module) providers Engine component suppliers * *former Volvo Aero Material suppliers Aero Engine Industry Characteristics Industry players are specialized in different modules/technologies Oligopolistic structure of market High barriers to entry High technology expertise required Substantial up front investment (R&D, Concessions) required Long term contracts Structurally capative spare parts business Certification requirements and regulatory approvals 7

cumulative Cash Flow Balanced Product Portfolio MTU s engine portfolio is well balanced between young and mature programs Life cycle cash flow profile of commercial MTU engines Entry into service (A300, A310, PW 2000 747, 767) CF6-80C (MD-80) JT8D- 200 CF6-50 /80A (747, 767, A300, A310, DC-10) V2500 (757, C-17) PW500 CF6-80E (A330) (A320, MD-90) (Cessna XLS, Cessna Bravo) PW 4000G (777) GE9X (777X) PW 1700G 1900G (Emb E2 Jet) PW800 (G500, G600) PW 1400G (Irkut MS-21) PW 1200G PW 1500G PW 1100G (MRJ) (A320neo) (CSeries) GEnx (787 & 747-8) GP 7000 (A380) PW 6000 (A318) PW300 (G200, 328JET, Sovereign, Falcon 7X, Latitude) Phase-out Series production R&D Aftermarket ( Spare parts + MRO) 8

MTU s Continuous Growth is Supported by all Market Segments OEM market volume ($bn) 140 120 100 CAGR 2016-2026 Total market Mid to high single digit CAGR Mid single digit Aircraft Segment* Widebody (50-120 klb) 80 60 40 20 0 2016 2018 2020 2022 2024 2026 Mid single digit High single digit High single digit Narrowbody (20-50 klb) Regional jet (13-24 klb) Business jet (3-16 klb) MTU projects outperformance of market growth in 3 out of 4 segments. 9

Business Jet Market PW300 / PW500 PW800 Installed base of more than 7,600 engines 10 business jet applications in operation Successful market introduction of Cessna Latitude Dassault Falcon 8X in development Program share of 15% Exclusive engine for future Gulfstreams and future Dassault Business Jet MTU will be responsible for the LPT, the first four stages of the HPC and will participate in the MRO EIS expected in 2018 (G500), 2019 (G600) and 2022 (Dassault) MTU s turnover in the segment will triple within 10 years 10

Regional Jet Market PW1200G (MRJ) PW1500G (CSeries) PW1700G/1900G (E2-Jets) Program share of 15% Exclusive engine for MRJ with seats up to 92 passengers First flight in Nov 2015 EIS expected in 2021 Program share of 17% Exclusive engine for the Bombardier CSeries EIS in July 2016 with launch customer Swiss International Airlines Program share of 15-17% Exlusive engine for Embraer s 2 nd Gen E-jets Embraer is current market leader with large customer base First flight of E190-E2 with PW1900G in May 2016 EIS in 2018-2020 MTU and its partners will dominate the future regional jet market with more than 3,000 engines already ordered or optioned 11

GTF Engines will Dominate the Regional Jet Market Deliveries: Market change towards PW1000G engines CF34: 91 % PW1000G: 90 % Other Jets Other Jets Today: CF34 dominated Future: PW1000G dominated CRJ700/ 900 EMB170 / 190 / 195 CSeries MRJ70 / 90 EMB175 / 190 / 195-E2 EIS: 2001/2004 2004/2006 today 2016 2020 2018 / 2019 / 2020 12

Narrowbody Market V2500 PW1100G-JM ~ 6,500 engines flying Most important program w.r.t. revenue contribution Strong growth of spare parts sales until mid of next decade #1 MRO provider - capability in 3 locations Market share in NB segment ~24% Program share increase in 2012 from 11% to 16% Strong order book 16% improved fuel efficiency Designed for lower maintenance cost ~50% market share on A320neo family expected Increase in Market share in NB segment (~30%) Program share of 18% EIS 2016 Excellent narrowbody market position leads to continuous OEM & MRO growth 13

Widebody Market GP7000 GEnx GE9X Market share of ~ 50% on the A380 In production since 2007 ~ 500 engines in service Production peak in 2015 Market share of 60% on 787, exclusive on 747-8 In production since 2011 ~ 1000 engines in service Market expectation of 4,400 engines MTU is partner of the GE-MRO network Exp. MRO revenue 3 bn Revenue potential 4 bn 950 orders and options Entry into service expected in 2020 Exclusive engine for Boeing 777X MTU will be partner of GE-MRO network Strong partnership with GE Aviation in the widebody market 14

OEM Production Status and Ramp-up Ramp-up figures 2009 2017 2020 Turbines 800 1,300 1,750 Compressors 200 750 1,650 Turbine Center Frames 50 250 300 Engine Assembly 50 150 300 Total 1,100 2,450 4,000 Volume increases by a factor of 4 in one decade 12th December 2017 Investor & Analyst Day 2017, Munich 15

Strategic Setup Production and Supply Chain High Tech Mid-Low Tech Raw Material, Mid-Low Tech MTU AE Munich Sophisticated parts and production processes Automation Development of new production technologies Know How to support all MTU sites and suppliers MTU AE Polska Adopting established parts and production lines from Munich Improvement of mid tech parts and production processes Module assembly improved with know how transferred from automotive industry Risk Mitigation Keeping and improving MTU s high tech knowledge in Munich MTU Polska as prime source for mid tech parts supplier as second source Dual Source Development of advanced manufacturing technology at MTU Munich Supplier Raw parts Finished parts as second source Low tech parts from low cost countries The supply chain is based on 2 MTU manufacturing sites and a worldwide network of suppliers 16

MTU Commercial OE: Outlook 2017 to 2027 (in m ) Growth secured by strong order books and better diversification Today (2017 E) Future (2027 E) Others Business Jets Business Jets Others Regional Jets Widebody Narrowbody CAGR Regional Jet Widebody Narrowbody ~ 3/4 of Com OE revenues is generated by PW1100G, V2500 and GEnx Transition of V2500 to PW1100G in 2017-2018 V2500 peak installed base in 2018 GEnx stable production PW1000G engine family key revenue driver in future; GTF engine production >1000 by 2020 EIS of next gen RJ starts from 2016 to 2020 GEnx and GE9x main revenue driver of widebody segment PW800 driver in business jet segment 17

MTU Commercial Spare Parts: Outlook 2017 to 2027 (in m ) More diversified spare parts portfolio and growth in all segments Business Jets Today (2017 E) Future (2027 E) Others Business Jets Regional Jet Others CAGR Widebody Narrowbody Widebody Narrowbody ~ 3/4 of com. spare parts revenues are generated by V2500, CF6-80 and PW2000 V2500 FhA Coverage ~ 60% CF6-80 stable towards end of decade PW2000 decrease towards end of decade as expected V2500 spares peaks 2023-2025 GEnx, GP7000 increase spare parts volume PW1000G will produce spare parts sales early 20s New engine programs with ~ 40% of sales in 2027 GE9x aftermarket starts in 2 nd half 2020s 18

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 19

Military Business EJ200 TP400-D6 T408 Strong revenue contribution, both OEM&MRO ~ 500 Eurofighter in service ~ 1,200 engines delivered Production of new engines until 2021 Strong export potential Ramp up successfully achieved ~ 200 engines produced 174 A400M aircraft on order Aircraft well positioned for export Power for CH-53K for US marine corps Latest Technology Turboshaft engine First flight October 2015 Engine could be used for additional applications Strong transatlantic partnership Successful new product introduction for the international military market 20

Overview about Military Engine Programs and Business Outlook 2017 2020 2025 2030 2035 Fighter, trainer Eurofighter EJ200 Eurofighter Upgrade, Tranche 1 replacement NGWS Transport A400M TP400 KC390 V2500 Helicopter CH-53K T408 Export Eurofighter Kuwait, Qatar Saudi Arabia A400M Export potential CH-53K Export potential 12th December 2017 Investor & Analyst Day 2017 - Munich 21

MTU Military Revenue Outlook 2017 to 2027 (in m ) Military revenue range 400-500 m Today (2017 E) Future (2027 E) Revenues ~ 400 m Revenues ~ 500 m Series CAGR Upside Potential Series Aftermarket / Services Aftermarket / Services Military revenues expected to remain stable at lower level of ~400 m in 2018-2019 EJ200 remains main revenue driver despite run out of Tranche 3a series production Stable RB199 MRO revenue contribution Stretching of TP400 series production Military revenues expected to increase to ~ 500m by 2027 Upside potential for export EJ200 / TP400 T408 EIS in 2019 Strong revenue contribution mid of next decade Phase out of RB199 22

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization@MTU 7. Corporate Responsibility 8. Appendix 23

MTU s Diversified Approach Ensures a Broad MRO Market Coverage Independent MRO OEM cooperation Characteristics: Direct customer contact Over 900 customers Highly competitive market Customized services Highly competitive MRO shops due to low labor cost environment Targets: Remain #1 provider with focus on customers Provide integrated life cycle services Develop current and investigate future airline cooperations Partners: JV with China Southern JV with LH Technik (ASSB) OEM is contract holder Long term deals with focus on reducing life-cycle cost MTU is OEM network partner MRO share is secured at program entry for entire life Provide cost-efficient, industrialized MRO Leverage OEM network OEM JV with LH Technik (EME Aero) Programs: CF34, CF6, CFM56, GE90G, PW2000, V2500, Parts repair, LM IGTs, Vericor GEnx, GP7000, PWC, V2500, PW1000G, GE9X 24

MTU s MRO Portfolio is the Basis for Future Growth MRO Market Volume ($bn) 60 CAGR 2015-25 Total Market High single digit 50 MTU-served Low teens 40 CAGR Market Approach Portfolio Mid single digit No access as of today 30 20 High single digit Independent or Airline Cooperation CF34, CFM56, CF6, GE90G, PW2000, V2500 10 0 2015 2017 2019 2021 2023 2025 High teens OEM Cooperation PW1000G, GEnx, GP7000, V2500 Source: MTU, escalated MTU has the largest engine MRO portfolio of all providers: The market MTU serves will grow over-proportionally at low teens level p.a 25

As the Majority of New Engine Platforms are Sold with OEM Flight Hour Agreements more Shop Visits will be Subcontracted by the OEM Today s Revenues* (2017 E) Future Revenues* (2027 E) EBIT adj. Margin low to mid single digit OEM cooperation CAGR OEM cooperation Independent Independent Independent EBIT adj. Margin ~10% MTU expects to grow in both market segments with stronger growth in OEM cooperation business, leading to increasing pressure on profitability *) incl. MTU-Zhuhai (100%) 26

Expansion of MRO Capacity with Clear Focus on Best Cost Initiated Capacity needs vs. availability Capacity needs Total capacity increase ~50% Best cost locations High cost countries: short-term increase of workstaff Low-cost countries: doubling of capacity High cost locations Low-cost portion to total capacity increases from 30% to 50% 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Efficiency program started to secure profitable growth Long-term growth will be at best-cost sites within the MRO network 27

MRO Expansion Strategy MTU Zhuhai: Growing portfolio and customer base requires increase of capacity MTU Maintenance Zhuhai Ltd. Max. capacity New engine platforms Mature engine platforms 50:50 JV with China Southern since 2001 Current capacity ~300 shop visits after extension in 2012 (+50%) Workforce ~800 ~50% of visits are from 3rd party airlines Growing customer base Current portfolio: V2500 and CFM56 Target to expand to new engine platforms 2018 2020 2022 2024 2026 Increase capacity by another 50% Today: no.1 MRO Shop in China and most efficient NB MRO shop world-wide 28

MRO Expansion Strategy EME Aero: New GTF MRO facility Max. capacity Company founded December 2017 50:50 joint venture with LHT Total investment of 150m One product shop: GTF only Start of operations in 2020 Work force max. ~ 800 employees Full utilization of capacity in 2028 2018 2020 2022 2024 2026 2028 The new shop will have a key role in the GTF MRO network 29

MTU Maintenance Centers of Excellence MTU Maintenance Canada NB + WB engines and accessories 3 rd MRO shop for V2500 Growth strategy for accessories business MTU Maintenance Hannover NB + WB engines Short-term increase in personnel GTF maintenance Expansion repair technologies MTU Maintenance Lease Services Expansion of (RJ + NB + WB) engine lease pool and asset management MTU Maintenance Berlin-Brandenburg BJ + RJ + IGT New logistics center Expansion of BJ portfolio Airfoil Services (ASSB) JV with LH Technik NB + WB parts repair Dedicated to parts repair now and in the future Program expansion EME AERO New GTF MRO shop 50:50 JV with LHT Facility in best cost region Start in 2020 MTU Maintenance Zhuhai No. 1 MRO shop in China Expand customer base and grow NB engine portfolio Increase capacity MRO sites All locations are getting ready to efficiently master future growth 30

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 31

Guidance 2017 Military: New engine Sales (Com. OE): Spare parts Sales (Com. Spares): Commercial MRO: Revenues Down mid teens Up mid to high single digit (ex: high single digit) Up 10% (ex: high single digit) Up mid to high teens ~ 5.1 bn (ex:~ 5.3 bn ) Tailwind from US$ fx-rate Slight tailwind from business mix EBIT adj. ~ 600 m (ex: ~ 560 m ) Lower interest expenses & Tax rate of 29% Net Income adj. FCF ~ 420 m (ex: ~ 390 m ) ~140 m (ex: ~ 120 m ) 32

The year 2018: Start into Consolidation Phase 2018 Main drivers Military: Stable Commercial OE: Up ~30% Commercial Spares: Commercial MRO: Up mid single digit Up in the high teens EBIT adj. Moderate progression Free Cashflow Growth stronger than Net Income adj. (CCR* up) * Cash Conversion Rate = Free Cash Flow/Net Income adj. 33

Long term outlook 2019-2025 update: Improved Free Cashflow conversion reconfirmed Consolidation phase 2019-2025 Net income adj. Steady growth Working capital CF from investing Growing less than revenues + No consumption of prepayments + Inventory turns will improve + More FHAs with preferential Cashflow profile Will go into decline + Less payments for intangibles + Less spendings for capacity build-up (PPE) + R&D capitalization declines as programs enter into service CCR* High double digit % * Cash Conversion Rate = Free Cash Flow/Net Income adj. 34

MTU s Cash Deployment Strategy Prio Instrument Investment phase 2014-17 Consolidation phase 2018-25 I Investment in organic growth Strong investment in new programs Limited opportunities II Dividend deployment Growth in line with net income Growth stronger than net income III Share buyback programs No buyback programs as cash conversion low Instrument to limit deleveraging IV M&A No suitable targets in aircraft engine market No new targets expected MTU s target is a balanced leverage ratio in the range of 1 x net Debt / EBITDA 35

US$ Exchange Rate / Hedge Portfolio Hedge book as of October 26, 2017 (% of net US$ exposure) in mus$ 1,073 (= 90%) 910 (= 67%) 530 (= 36%) Hedging Model US$ Exposure Approx. 75% of US$ revenues are covered with US$ costs via procurement ( natural hedging ). US$ sensitivity will rise over the next years due to increasing net US$ exposure Average hedge rate (US$/EUR) 2017 2018 2019 1.18 1.14 1.15 Rolling Hedging Model Exchange rate analysis and new hedging contracts on a quarterly basis Hedging period: 12 following quarters For MTU hedging remains an instrument for risk mitigation Sensitivity pre hedging: 10 ct move in US$/ exchange rate has an impact of ~ 90m on EBIT (2017) 36

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 37

Impact on product, business model ( Disruptive ) Impact of Digitization on MTU s Business Model Services Trade / Commerce Finance/ Banking Media B2C In B2C industries, digitization partly leads to a serious change in the business model Logistics Automobile Insurance Engineering MTU OEM MTU MRO Chemistry B2B For companies in B2B industries, process improvements are often the focus of attention Impact on cost structure, quality, etc. ( Evolutionary ) Digitization will not fundamentally alter the business model of MTU in the medium term but provides with opportunities to improve competitiveness further within the industry 38

Digitization@ MTU Focus on 4 Areas of Activity Robotic process automation Digital twin Technology 4.0 Work 4.0 IT security Virtual engine Unified collaboration & communication E-learning Material & manufacturing simulation MRO 4.0 Intelligent machine control Production 4.0 Additive manufacturing Predictive maintenance (ETM) Predictive analytics Optimized material flow/logistics 4.0 39

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 40

Corporate Responsibility Sustainable business practices Compliance, corporate governance, risk management, ratings & rankings Environmental protection MTU climate strategy, environmental management on the shop floor Product responsibility Eco-efficient engines / Clean Air Engine, sustainable production and maintenance procedures, European SRIA standards* Responsibility toward employees Occupational health & safety, work-life balance, development of young talent Commitment to society Economic cooperation / support of universities and research institutes, local sponsoring 41

Contents 1. Company Overview 2. Commercial OEM Business 3. Military OEM Business 4. Commercial MRO Business 5. Financials & Outlook 6. Digitization @ MTU 7. Corporate Responsibility 8. Appendix 42

Appendix 9M 2017: Group Revenues up 10% MTU Group Revenues Segment Revenues in m in m 3.401 3.745 1.368 1.728 357 272 1.738 1.821 9M 2016 9M 2017 9M 2016 9M 2017 Commercial Business Military Business MRO * MRO (on US$ basis ): up 26% ** Organic Commercial OEM US$ revenues up low single digit 43

Appendix 9M 2017: Group EBIT adj. Margin at 12% MTU Group EBIT adj. Segment EBIT adj. in m in m 11.6% 12.0% 12.6% 9.4% 14.3% 8.5% 451 147 394 129 265 303 9M 2016 9M 2017 9M 2016 9M 2017 Group margin OEM MRO OEM margin MRO margin 44

Appendix MTU s Credit Ratings Represent Investment Grade MTU is rated by two credit rating agencies: Moody s (Long term) Baa3 negative outlook 23. May 2017 Fitch (Long term) BBB- stable outlook 26. October 2016 Loan Details Amount Coupon Issue date Maturity Convertible Bond 500 m 0.125% Conversion Price 124.7701 (Premium 50%) 17 May 2016 17 May 2023 Notes (Private Placement) 100 m 3.55 % 12 June 2013 12 June 2028 Note purchase agreement 30 m Variable interest rate corresponding to the 6- month Euribor rate plus a percentage margin 28 March 2014 27 March 2021 Revolving Credit Facility 600 m Customary market reference rates plus an additional margin; unused credit facilities are subject to a loan commitment fee 28 Oct. 2021 45

Update: Development Milestones of new Engine Programs PW1500G C-Series PW1100G A320neo PW1200G MRJ PW1400G MS-21 PW1900G E-Jets 2nd Gen PW800 G500 / G600 GE9X B 777X T408 CH-53K First engine to test Tested in flying testbed Engine certification N/A 2017 N/A 2019 2018* First flight 2019 Entry into service 2021 2019 2018 2018 2020 2019 With PW1200G and PW1900G two more Geared Turbofan engines were certified in 2017 * T408: Certification of whole aircraft system after flight testing 46

Appendix The GTF Competitive Advantage Direct Drive Turbofan DDTF Config 1-3-10-2-7 78 in Fan Diameter GTF relative to Direct Drive Turbofan: 25 % less stages 45 % less airfoils lower cycle temperature = lower maintenance cost higher propulsive efficiency higher low spool component efficiencies shorter & lighter = 3 % less fuel burn 81 in Fan Diameter Config 1-G-3-8-2-3 3 to 4 db quieter (EPNdB, cum.) Geared Turbofan GTF The GTF concept achieves a 16% reduction in fuel burn versus the V2500 predecessor and a significant competitive advantage over the DDTF 47

Appendix Commercial Engine Fleet Aircraft Segment Engine Program Share Aircraft Application Widebody GP7000 22.5% A380 (50 120 klb)* PW4000G 12.5% B777 CF6-80C 9.1% B747-400, B767, Boeing MD-11, A310 Genx 6.6% B787 Dreamliner, B747-8 CF6-80E n.n. A330 CF6-50/80A n.n. DC 10-30, B767, A310 GE9X 4% B777X Narrowbody PW2000 21.2% B757, C-17 (20 50 klb)* PW1100G-JM 18% A320neo PW6000 18% A318 V2500 16% A320 family, Boeing MD-90 JT8D-200 12.5% Boeing MD-80 range Regional Jets PW1500G 17% Bombardier CSeries (13 24 klb)* PW1700G/1900G 15-17% Embraer E-Jet Gen 2 PW1200G 15% MRJ Business Jets PW300 25% (PW305/306) Learjet 60, Do328 JET, Gulfstream G200, Hawker (3 16 klb)* 15% (PW307) 1000, Dessault Falcon 7X, Cessna Sovereign PW500 25% Cessna Bravo, Cessna Excel PW800 15% Gulfstream G500, G600 48

Appendix Military Engine Fleet Aircraft Segment Engine Program Share Aircraft Application Fighter EJ200 30 % Eurofighter Typhoon Aircraft RB199 40 % Panavia Tornado F414 4.4 % F414: F/A-18 E/F Super Hornet; EA-18G Growler Transport Aircraft TP400 22.2 % A400M Helicopter MTR390 40 % Eurocopter Tiger T408 18.4 % CH-53K (US-HTH) 49

Appendix Commercial MRO Business: Top 10 engine MRO providers 2015 Estimated number of engines under contract MTU Maintenance is the largest independent and under the Top 5 MRO providers TOP 10 MRO providers* MRO Provider Market Share 1. GE Engine Services ~22 % 2. Rolls-Royce ~11 % 3. MTU Maintenance ~10 % 4. Pratt & Whitney ~7 % 5. Lufthansa Technik ~6-7 % 6. Snecma ~4-5 % 7. Air France / KLM ~4 % 8. Delta TechOps ~3 % 9. American Airlines ~2-3 % 10. Standard Aero ~2 % * Source: ACAS as of 06/2015: *commercial jets, excl. turboprops, business jets and military tanker/transport applications 50

Appendix Financial Calendar 2018 & IR Contact February 21, 2018 Conference Call Full year results 2017 April 27, 2018 Conference Call Q1 2018 results October 25, 2018 Conference Call Q3 2018 results 2018 April 11, 2018 Annual General Meeting for the fiscal year 2017 July 26, 2018 Conference Call Q2 2018 results November 29, 2018 Investor & Analyst Day Michael Röger Vice President Investor Relations phone: +49 89 14 89-8473 E-Mail: Michael.Roeger@mtu.de Claudia Heinle Senior Manager Investor Relations phone: +49 89 14 89-3911 E-Mail: Claudia.Heinle@mtu.de Matthias Spies Senior Manager Investor Relations phone: +49 89 14 89-4108 E-Mail: Matthias.Spies@mtu.de 51

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. In addition to statements that are forward-looking by reason of context, the words may, will, should, expect, plan, intend, anticipate, forecast, believe, estimate, predict, potential, or continue and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) competition from other companies in MTU s industry and MTU s ability to retain or increase its market share, (ii) MTU s reliance on certain customers for its sales, (iii) risks related to MTU s participation in consortia and risk and revenue sharing agreements for new aero engine programs, (iv) the impact of non-compete provisions included in certain of MTU s contracts, (v) the impact of a decline in German or other European defense budgets or changes in funding priorities for military aircraft, (vi) risks associated with government funding, (vii) the impact of significant disruptions in MTU s supply from key vendors, (viii) the continued success of MTU s research and development initiatives, (ix) currency exchange rate fluctuations, (x) changes in tax legislation, (xi) the impact of any product liability claims, (xii) MTU s ability to comply with regulations affecting its business and its ability to respond to changes in the regulatory environment, (xiii) the cyclicality of the airline industry and the current financial difficulties of commercial airlines, (xiv) our substantial leverage and (xv) general local and global economic conditions. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act ), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any public offering of securities of MTU Aero Engines to be made in the United States would have to be made by means of a prospectus that would be obtainable from MTU Aero Engines and would contain detailed information about the issuer of the securities and its management, as well as financial statements. Neither this document nor the information contained herein constitutes an offer to sell or the solicitation of an offer to buy any securities. These materials do not constitute an offer of securities for sale in the United States; the securities may not be offered or sold in the United States absent registration or an exemption from registration. No money, securities or other consideration is being solicited, and, if sent in response to the information contained herein, will not be accepted. 52

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. 53