Exhibit 99.3

St r ictly P r iva t e & C on fi den ti a l [JM] Inv e stor Prese n tati o n St r ictly P r iva t e & C on fi den ti a l F e b r ua r y 2024

N OT FOR R E L E ASE , P U B LIC A T ION OR D I S T R I B U T ION IN W HO LE OR IN PA R T I N , I N T O OR F R OM A N Y J UR I S D I C T ION W H E R E T O D O S O W OU LD B E UN L A W F U L D i sc l a i mer 2 St r ictly P r iva t e & C on fi den ti a l Th i s p r ese n t at i on ( the “ P r esent at i o n ” ) has been p r epa r ed by S DC L E D GE Acqu i s i t i on C o r po r at i on ( the “ SE D A,” “ us” or “w e ” ) and i s p r ov i ded on a con f i dent i al bas i s so l e l y to r ec i p i ents that a r e “ acc r ed i ted i nvesto r s” ( as def i n e d i n R u l e 506 of R egu l a t i o n D ) ( any such r ec i p i ent, tog e t he r wi th i ts subs i d i a ri es and a f f ili at e s, the “R ec i p i ent ” ) so l e l y f or the i r o w n ben e f i t and i nte r n a l use and on l y f or pu r p o s e s of cons i d e ri ng the opp o r t un i ty to pa r t i c i pa t e i n the p r op o s e d p ri vate p l ace m en t ( the “ P r opos e d T r ansact i on ” ) i n conn e c t i on wi th the pote nt i al i n i t i al bus i n e ss co m b i na t i on ( the “ I n i t i al Bus i ness C o m b i nat i on ” ) of SE D A wi th the p r ospe c t i ve ta r get bus i n e ss e s ( the “ Ta r get” or the “C o m pany ”) . Any r ep r od u c t i o n , pub li c a t i o n or d i st ri but i on of th i s P r ese n t a t i o n , i n w ho l e or i n pa r t, or the d i sc l osu r e of i ts conte nt s, wi thout SE D A ’ s p ri or wri tten conse nt , i s p r oh i b i t ed . Th i s d i sc l a i m er and the r equ ir e m ent f or st ri ct conf i d ent i a li ty sha l l app l y wi thout p r e j ud i ce to any other conf i d ent i a li ty ob li gat i on s to w h i ch you a r e sub j ect. By accep t i n g th i s P r esent at i on , you he r e b y ag r ee to be bou n d by and co m p l y wi th the r est ri ct i ons conta i ne d he r e i n. By accept i n g and /o r by r ead i ng th i s P r esent at i o n , the R ec i p i en t ag r e e s and und e r t a k e s to w a r ds SE D A and the Ta r get that i t wil l not, and wil l cause i ts d ir ecto r s, o f f i c e r s, e m p l oye e s, r ep r ese nta t i v e s, adv i so r s and consu l tan ts ( the "R ep r esen ta t i v e s " ) n ot to, d i sc l ose any type of i n f o rm at i on r e l at i ng to SE D A or the Ta r get. By accep t i ng th i s P r ese n t at i o n , the R ec i p i ent ag r e e s to m a i nta i n th i s i n f o rm at i on i n the st ri ctest conf i d en c e and to p r otect and sa f e gua r d th i s P r esent at i on aga i n st any una utho ri zed pub li ca t i o n or d i sc l osu r e. A l tho ug h SE D A r eason ab l y be li ev e s the i n f o rm a t i on conta i ne d i n th i s P r esen ta t i o n r e l ated to SE D A and the Ta r get i s accu r ate i n a l l m ate ri al r espects as of the date of t h i s P r esen ta t i o n or the date to w h i ch the i n f o rm at i o n cont a i ne d i n th i s P r esen ta t i o n m akes r e f e r e n c e to, ne i th e r SE D A, the Ta r get nor any of the i r a f f ili at e s , d ir ecto r s, o f f i ce r s, sha r eh o l d e r s, e m p l oye e s or adv i se r s or any other pe r so n , m akes any r ep r ese nta t i o n or w a rr anty, e i ther exp r ess e d or im p li ed, as to the ac c u r a cy, co m p l ete ne ss or r e li ab ili ty of the i n f o rm a t i on conta i ne d he r e i n or any other wri tten, o r al or oth e r co mm un i cat i o n s t r ans mi tted or oth e rwi se m ade ava il ab l e to the R ec i p i ent i n the cou r se of i ts eva l u a t i o n of the I n i t i al Bus i ness C o m b i nat i o n . SE D A and the Ta r get f u r th e r exp r ess l y d i sc l a i m any and a l l li ab ili ty r e l at i ng to or r esu l t i ng f r om the use of th i s P r esent at i on based on the accu r acy or su f f i c i e n c y the r e o f or on any e rr o r s, o mi ss i ons or mi sstate m e nt s, neg li g en t or othe rwi se, r e l at i ng the r e to . A cc o r d i n g l y, none of SE D A, the Ta r get nor any of the i r a f f ili at e s, d ir ecto r s, o f f i c e r s, sha r eh o l de r s, e m p l oye e s or adv i se r s or a n y o th e r pe r son sha l l be li ab l e f or any d ir ect, i nd ir ect or conse quent i al l oss or da m a ge s su f f e r ed or i ncu rr ed by any R ec i p i ent as a r esu l t of r e l y i ng on any state m e n t i n or o mi ss i on f r om th i s P r esen ta t i on , and the R ec i p i ent he r e b y exp r ess l y d i sc l a im s such li ab ili ty. I n add i t i on , the i n f o rm at i o n cont a i n e d i n th i s P r esent at i on i s p r ov i ded as of the date he r e o f and m ay chan ge , and ne i th e r SE D A nor the Ta r get und e r t a k e s any ob li ga t i on to upd a te such i n f o rm at i on , i nc l ud i ng i n the event that such i n f o rm a t i on beco m es i naccu r a t e or i nco m p l et e . Except to the exte n t r equ ir ed by l a w , ne i th e r SE D A, the Ta r get nor any oth e r pe r son assu m es r espons i b ili ty f or the accu r acy or co m p l et ene ss of the i n f o rm at i o n conta i ne d i n th i s P r esen ta t i on . Fu r the r , the i n f o rm at i o n cont a i ne d he r e i n i s p r e limi na r y, based on a r ange of as s u m p t i on s, i s p r ov i ded f or d i scuss i on pu r pos e s on l y, i s on l y a su mm a r y of se l ected key i n f o rm at i on , i s not co m p l et e , does not ta k e into accou n t a l l r e l evant econ o mi c and m a r ket f act o r s, does not cont a i n ce r ta i n m ate ri al i n f o rm at i o n abo u t the P r opos e d T r ansact i on or the I n i t i al Bus i n e ss C o m b i nat i on , i nc l ud i ng ri sk f act o r s assoc i at e d wi th the Ta r get, SE D A, the P r opos e d T r ansact i on or the I n i t i al Bus i ness C o m b i nat i on , and i s sub j ect to chan g e wi thout not i c e . Th i s P r esent at i on i s not i nten de d to conta i n a l l the i n f o rm at i o n that a pe r son m ay des ir e i n cons i d e ri ng an i nvest m e n t i n the P r opos e d T r ansact i on . Any pe r son seek i ng to m ake an y such i nvest m ent sho u l d consu l t wi th i ts o w n adv i so r s (i nc l ud i ng but not limi ted to l ega l , r egu l a to r y, tax, bus i nes s , f i na n c i al and accou nt i ng adv i so r s) to the extent neces s a r y, and m ake i ts o w n i nvest m e n t dec i s i on and pe r f o r m i ts o w n i nde penden t i nvest i ga t i on and ana l ys i s of an i nvest m e n t i n the P r opos e d T r a nsact i o n and an ana l ys i s of the I n i t i al Bus i ness C o m b i nat i on and the oth e r t r ansact i on s conte m p l a te d i n th i s P r esen ta t i on . Th e R ec i p i ent shou l d not cons i d e r any i n f o rm at i on i n th i s P r esen ta t i o n to be l ega l , i nvest m e n t, bus i n e ss, tax or accou nt i ng adv i ce or a r eco mm en da t i on . The R ec i p i ent ag r ees that none of Susta i nab l e D eve l op m en t C ap i tal LLP (“ S DC L ”) , S DC L E D GE Spons o r LLC (“ Sponso r” ) , the Ta r get or any of the i r r espect i ve a f f i l i at e s, d ir ecto r s, o f f i c e r s, e m p l oye e s, sha r e ho l d e r s, adv i so r s or age n ts sha l l have any li ab ili ty f or any mi sstate m ent or o mi ss i on of f act or any op i n i o n exp r ess e d he r e i n. Any pe r son cons u l t i ng th i s P r ese n t at i on shou l d a l so ca r e f u ll y cons i d e r the ri sks and unce r t a i n t i es desc ri bed i n the “Ri sk Facto r s” sect i o n of SE D A ’ s f i nal p r ospec tu s dat e d Octo be r 28, 202 1 r e l at i ng to i ts i n i t i al pub li c o f f e ri n g , an d subse quen t pe ri od i c f ili ngs wi th the U .S. Secu ri t i es and Exchan g e C o mmi ss i on ( the " SE C" ) on Fo r m 1 0 - Q and Fo r m 1 0 - K. Any actu a l te rm s of the opp o r tu n i t y m ay va r y f r om w hat i s d i scussed he r e i n and m ay do so i n a m ate ri al m anne r . The r e can be no assu r a n c e , a nd ne i th e r SE D A nor Ta r get g i ves any assu r a n c e , that SE D A or Ta r get wil l ach i eve the des ir ed r esu l ts or that any i nvestor wil l r ece i ve any r e tu r n of or on cap i ta l . Th i s P r esen ta t i o n sha l l ne i th e r const i t u te an o f f e r to se l l or the so li c i tat i on of an o f f e r to buy any secu ri t i es, nor sha l l th e r e be any sa l e of secu ri t i es i n any j u ri sd i ct i on i n w h i ch the o f f e r , so li c i tat i on or sa l e w ou l d be un l a w f u l p ri or to the r eg i st r at i on qua li f i ca t i on und e r the secu ri t i es l a w s of any such j u ri sd i ct i on. N e i ther the SEC nor any state or te rri to ri al secu ri t i es co mmi ss i on has app r ov e d or d i sapp r o v e d of the secu ri t i es or dete rmi n e d i f th i s P r esent at i on i s t r uthf u l , accu r ate or co m p l et e . C e r ta i n state m e nt s, est im ates, ta r gets and p r o j ect i on s cont a i n e d i n th i s P r esent at i on m ay const i t u te “ f o rw a r d - l ook i n g state m en t s ” f or pu r p o s e s of the f e de r al secu ri t i es l a w s. Actual r esu l ts m ay d i f f e r f r om the i r exp e ct at i o n s, est im ates and p r o j ect i on s a n d conse quen t l y, you shou l d not r e l y on those f o rw a r d - l o o k i ng state m en ts as p r ed i ct i o n s of f ut u r e events or f ut u r e pe r f o rm ance of SE D A or the Ta r get. These f o rw a r d - l oo k i ng state m e nt s i nc l ude, but a r e not limi ted to, state m en ts r ega r d i ng SE D A, the Ta r get or the i r r espect i ve m anag e m en t tea m s’ conc l us i o n s, exp e ct at i o n s, hop e s, be li efs, i nten t i o n s or st r ateg i e s r ega r d i n g the f ut u r e and/ o r f ut u r e even t s or c ir cu m stance s . I n add i t i o n , any state m e nt s that r e f er to p r o j ect i o n s, f o r ec a sts or other cha r a ct e ri za t i o n s of f ut u r e events or c ir cu m stances, i nc l ud i ng any und e rl y i ng assu m pt i on s, a r e f o rw a r d - l o o k i ng state m e nt s. The w o r ds “ a d d r ess i ng ,” “ ant i c i pa ted ,” “ beco m e,” “ ben e f i t , ” “ be li eve,” “ c r eat i ng,” “ cont i n ue s,” “ cove r ed , ” “ d ri ven,” “ ena b li n g ,” “ expect ed, ” “ g r o wi ng,” “im p l e m ent i n g ,” “im p r ove,” “i nc l udes,” “i nc r ea s i ng , ” “i ntend ed, ” “m ay,” “ p r o j ecte d ,” “ p r ov i de,” “r e m a i n,” “r esu l t i ng,” “ sho w n,” “ suppo r t,” “will ,” and s imil ar exp r ess i o n s m ay i dent i fy f o rw a r d - l o o k i ng state m e nt s, but the abse n ce of these w o r ds or exp r ess i o n s does not m ean that a state m en t i s not f o rw a r d - l o o k i n g . Fo rw a r d - l ook i ng state m e nt s i n th i s P r esen ta t i o n m ay i nc l u d e, f or ill ust r at i ve and no n - e x hau st i ve pu r p o s e s on l y, state m en ts abo u t: • • • • • • • SE D A ’ s ab ili ty to eng ag e i n and co m p l ete the I n i t i al Bus i n e ss C o m b i nat i o n ; SE D A ’ s expec ta t i on s and est im ates r ega r d i ng the pe r f o rm a n ce of the Ta r get; SE D A ’ s expec ta t i on s and est im ates r ega r d i ng the m a r kets and m a r ket pa r t i c i pa nt s r e l evant to the Ta r get; SE D A ’ s pub li c secu ri t i es’ pot en t i a l li qu i d i ty and t r ad i ng; SE D A ’ s f i na n c i a l pe r f o rm a n ce f o ll o wi ng i ts i n i t i al pub li c o f f e ri n g ; Ta r get ’ s ab ili ty to co m p l ete the acqu i s i t i on of the Ae r osp a ce Bus i ness of K M E G r oup by cunova G m bH (“ cunova ”) ; and Ta r get ’ s p r o j ected f ut u r e ope r a t i o na l and f i na n c i a l pe r f o rm anc e , i nc l ud i ng ant i c i p a t e d ben e f i ts of cunov a ’ s acqu i s i t i on of the Ae r osp a ce Bus i ness of K M E G r oup and the p r op o s e d bus i n e ss co m b i nat i o n bet w ee n the Ta r get and SE D A. Such f o rw a r d - l o o k i n g stat e m e n ts a r e sub j ect to ri sks, unce r t a i n t i e s , and oth e r f ac to r s w h i ch cou l d cause actu a l r esu l ts to d i f f e r m ate ri a ll y f r om those exp r ess e d or im p li ed by such f o rw a r d - l o o k i ng state m en ts. Such f ac to r s i nc l ude, but a r e not limi ted to, v a ri ous f act o r s beyo n d m anag e m en t ’ s cont r o l , i nc l ud i ng oth e r ri sks and unce r t a i n t i e s set f o r th i n the sect i on ent i t l ed “Ri sk Facto r s” i n SE D A ’ s f i nal p r osp e ct u s dat e d Octob e r 28, 2021 r e l at i ng to i ts i n i t i al pub li c o f f e ri ng and other ri sks and unce r t a i n t i e s i nd i cated f r om t im e to t im e i n the de f i n i t i ve p r oxy sta t e m en t to be de li ve r ed to SE D A sha r eh o l de r s and r e l ated r eg i st r at i on state m en t of the Ta r get on Fo r m F - 4, i nc l ud i ng those set f o r th und e r “Ri sk Facto r s” the r e i n , or as othe rwi se i nd i cated f r om t im e to t im e i n other docu m en ts f il ed or to be f il ed wi th the SEC by SE D A or the Ta r get. Acco r d i n g l y, any p r o j ect i o n s, m ode lli ng o r ana l ys i s m ay d i f f e r m ate ri a ll y and shou l d not be v i e w ed as f act ua l and shou l d not be r e li ed upon as an accu r ate or co m p l ete p r ed i ct i o n of f ut u r e r esu l ts, events or c ir cu m stances. Fu r th e r , the i n f o rm a t i on conta i ne d i n th i s P r esen ta t i o n m ay de ri ve, e i th e r i n w ho l e or i n pa r t, f r om va ri ous i nte r nal and exte r n a l sou r ces. N o r ep r ese nta t i o n or w a rr anty i s m ade as to the r eason ab l ene ss of the assu m pt i o n s m ade wi th i n or the accu r acy or co m p l ete ne ss of any p r o j ect i o n s, m ode li ng or ana l ys i s or any oth e r i n f o rm at i o n cont a i n e d i n th i s P r ese n t at i o n . Any f i na n c i al i n f o rm at i o n i n th i s P r esen ta t i o n (i nc l ud i n g spec i f i c a ll y the p r o j ect i on s) that a r e f o rw a r d - l o o k i ng state m en ts a r e bas e d on assu m pt i on s that a r e i nhe r e n t l y sub j ect to s i gn i f i ca n t unc e r ta i n t i e s and cont i n gen c i e s, m any of w h i ch a r e beyo n d the Ta r get ' s c o nt r o l . The assu m pt i on s and est im ates und e rl y i ng the p r o j ected r esu l ts a r e i nhe r e n t l y unce r t a i n and a r e sub j ect to a wi de va r i ety of s i gn i f i c an t bus i ness, econ o mi c and co m pet i t i ve ri sks and unce r t a i n t i e s that cou l d cause actual r esu l ts to d i f f e r m ate ri a ll y f r om those cont a i ne d i n the p r o j ect i o n s. The f i na n c i al i n f o rm a t i on and data f or cunova f or the f i scal year end e d D ece m b e r 31, 202 3 and f or the Ae r osp a ce Bus i ness f or the f i scal yea r s end e d D ece m ber 31, 202 3 and 2022 conta i ne d i n th i s P r esen ta t i o n i s una ud i t ed , based on d r a f t statut o r y accou nt s, does not conf o r m to R egu l a t i o n S - X, a n d i s sub j ect to P C AOB aud i t. Acco r d i n g l y, such i n f o rm at i on and data m ay not be i nc l uded i n, m ay be ad j ust e d i n or m ay be p r esen te d d i f f e r e nt l y i n the f i nal r eg i st r at i on state m e n t to be f il ed wi th the SEC and the de f i n i t i ve p r oxy state m e nt / p r o s pe c tu s cont a i n e d the r e i n. I n th i s p r esen ta t i on , w e use a nu m ber of key ope r a t i ng m et ri cs, i nc l ud i ng Fu l l Add e d Va l ue ( FAV ) , and no n - I F R S f i n an c i al m easu r es, i nc l ud i ng EB I T D A, Ad j ust e d EB I T D A and R O C E, w h i ch w e be li eve accu r at e l y, i n a l l m ate ri al r espects, r e f l ect the p ri nc i pal pa r a m e te r s of our h i sto ri c pe r f o rm a n c e . The f i na n c i al m easu r es EB I T D A, Ad j ust e d EB I T D A, and R O C E, and m easu r es ca l cu l at e d based on these m easu r es, that a r e not p r ep a r e d i n acco r d an ce wi th accou n t i n g p ri nc i p l es gen e r a ll y acce p t e d i n the U n i ted Stat e s (" GAAP " ) or i nte r n a t i ona l f i na n c i al r epo r t i n g stand a r d s (“ I F R S ”) . These no n - GA AP/non - I F R S m easu r es, and other m easu r es that a r e ca l cu l at e d us i ng these no n - G AAP / non - I F R S m easu r es, a r e an add i t i on , and not a subst i t u te f or or supe ri or to m easu r es of f i na n c i a l pe r f o rm a n ce p r ep a r ed i n acco r da n ce wi th GAAP or I F R S and shou l d not be cons i d e r ed as a n a l te r na t i ve to ope r a t i ng i nco m e, net i nco m e or any other pe r f o rm a n ce m easu r es de ri ved i n acco r d an ce wi th GAAP or I F R S. The Ta r get be li eves these no n - G AAP / non - I F R S m easu r es of f i n an c i al r esu l ts p r ov i de usef u l i n f o rm at i o n to m ana ge m e n t and pote nt i al i nvesto r s r ega r d i n g ce r ta i n f i na n c i a l and bus i ness t r e n ds r e l at i ng to the Ta r get's f i na n c i a l cond i t i o n and r esu l ts of ope r a t i on s. The Ta r get be li ev e s that the use of these no n - G AAP / non - I F R S f i na n c i a l m easu r es p r ov i des an add i t i ona l to o l f or pote nt i a l i nvesto r s to use i n co m pa ri ng the Ta r get's f i na n c i al cond i t i on and r esu l ts of ope r a t i on s wi th other s imil ar c o m p a n i es, m any of w h i ch p r ese n t s imil ar no n - G A A P/non - I F R S f i na n c i a l m easu r es to i nvest o r s. The r e a r e a nu m b e r of limi tat i ons r e l ated to the use of these no n - G AA P / no n - I F R S f i na n c i a l m easu r es and the i r nea r est GAAP / I F R S equ i v a l e nt s. For e xa m p l e, the Ta r get ’ s de f i n i t i o n s of no n - G AA P / no n - I F R S f i na n c i al m easu r es m ay d i f f e r f r om no n - G AA P / no n - I F R S f i na n c i a l m easu r es used by other co m pa n i es and the r e f o r e the no n - G AAP / non - I F R S m easu r es i n th i s P r ese n t at i on m ay not be d ir ect l y co m pa r a b l e to s imil a rl y t i t l ed m easu r es of other co m pa n i es. For r econc ili at i on s to the m ost d ir ect l y co m pa r a b l e GAAP / I F R S m easu r e, s e e Appe nd i x A he r et o . SE D A exp r esses cu rr ent i ntent i on s on l y. The P r ese n t at i on and the i n f o rm a t i on conta i ne d i n i t do not const i tu t e an o f f e r capa b l e of accept an c e or i nten de d to othe rwi se g i ve ri se to a b i nd i n g cont r ac t . The P r esen ta t i o n and the i n f o rm at i o n cont a i ne d i n i t d o not const i t u te a co mmi t m ent of SE D A or the Ta r get to eng ag e i n the I n i t i al Bus i n e ss C o m b i na t i on or to und e rwri te or p l ace any f i na n c i n g or secu ri t i es i n r e l at i on to any bus i n e ss co m b i na t i on . U n l ess and unt i l a de f i n i t i ve ag r e e m e n t i s ent e r ed i nto r ega r d i n g the I n i t i al Bus i n e ss C o m b i na t i o n , SE D A and the Ta r get w i l l not be und e r any ob li g a t i o n w hatso e v e r wi th r espect to the I n i t i al Bus i n e ss C o m b i na t i o n , i nc l ud i n g , wi thout limi tat i on, to neg o t i a te te rm s of the I n i t i al Bus i ness C o m b i nat i on , except a s spec i f i ca ll y set f o r th he r e i n. S i gn i ng of a bus i n e ss co m b i na t i o n ag r ee m en t wi th r espect to the I n i t i al Bus i ness C o m b i nat i o n wil l be sub j ect to the r ece i pt o f a l l necess a r y app r o v a l s, and the f i na li sa t i on of r e l evant ag r ee m en ts f or any acqu i s i t i on to the sat i s f a c t i o n of SE D A and the T a r g et. The i n f o rm a t i on conta i ne d i n th i s P r ese n t at i on i s based on p r esent c ir cu m stanc e s, econ o mi c and m a r ket cond i t i on s, assu m pt i o n s , a nd be li efs. N e i ther SE D A or the Ta r get has any ob li ga t i on to upd a te th i s P r esent at i on or co rr ect any i naccu r ac i e s or o mi ss i on s i t d i scove r s f o ll o wi ng the date of th i s P r ese n t at i o n . SE D A i s an “ e m e r g i ng g r o w th co m pany” as de f i ne d und e r the U n i ted Stat e s Secu ri t i es Act of 193 3 , as a m end e d ( the “ Secu ri t i es A ct ”) . S DC L i s auth o ri zed and r egu l a te d i n the U n i ted K i ngd o m by the F i nanc i al C onduct Aut ho ri ty. The i n f o rm at i o n cont a i n e d he r e i n d oes not const i t u te or f o r m pa r t o f , and shou l d not be const r u e d as, an o f f e r or i nv i tat i on to pu r ch a s e , subsc ri be f o r , und e rwri te or oth e rwi se acqu ir e, any secu ri t i es of SE D A or a ny oth e r pe r son nor shou l d i t or any pa r t of i t f o r m the bas i s o f , or be r e li ed on i n conn e c t i o n wi th, any cont r act to pu r ch a se or subsc ri be f or any secu ri t i es of SE D A or any other pe r son or i n conn e c t i on wi th any other cont r act or co mmi t m ent w hats oe v e r . F ebruar y 202 4

Pre s e n ting team 3 F ebruar y 202 4 W er n er Ste g m ü ller CEO ▪ F ormer CE O of Gr i e s s o n - d e B e u k e l a e r GmbH C o. K G an d T h e o M ü ll er Gro u p of C ompan i es ▪ P re v i o u s e x p e r i e n ce i nc l u d es K S B A G, H or v áth & P ar t n e rs M a n a g ement C o n su l ta n ts, I D S S ch e er A G a n d Pl a u t D r . W o lf v an L e ng erich C F O ▪ F ormer C F O of Ei c k h o f f M asc h i n e n f a b r i k u n d E i se n g i e ß erei GmbH a n d M asc h i n e n f a b r i k B ernard K ro n e ▪ P re v i o u s e x p e r i e n ce i nc l u d es W i nc o r Ni x d o rf an d B a y erisc h e H y p oV ere i n s b a nk A G ▪ R e s p o n s i b l e f or A ero s p a ce b u s i n e ss w i th i n K M E s i nce i nc e pti o n of the R & D p h ase i n 2019 ▪ Gro u p Di rector, T ec h n o l o g y & D e v e l o p me n t at K M E s i nce N o v ember 2 0 19 ▪ J o i n e d K M E Gr o u p i n 2 0 03 as the T ec h n i cal C o o rd i n a tor, R o ll ed P ro d ucts D r . Peter Böh lke H e a d of A ero s p a ce ▪ O v er 25 y e a rs of e x p e r i e n ce in i ntern a t i o n al f i n a nc e , i n f rast r uc t u r e a n d pri v ate e q u i ty ▪ F o u n d e r a n d C E O of S usta i n a b l e D e v e l o p me n t C a p i tal L LP , i n v est m e n t a d v i ser to E D GE ▪ M a n aged the I P Os of S DC L E n e r g y E ff i c i e n cy Inc o me T rust a n d H SB C In f r as tr uc t u r e C ompany Ltd J on at h an M a x w e ll C h a i rman & C o - CEO Note: P resent i ng team represents the structure of the group after the proposed B us i ness Comb i nat i on i s completed St r ictly P r iva t e & C on fi den ti a l

S E DA tra n sact i on rati o n a le 4 F ebruar y 202 4 SED A ’s a c qu isiti o n cri t er i a 1 W e ll positio n e d to capitalize on sustain a bility gro w th markets ض 2 A l e ading m a rket pla y er w ith dif f eren t i a ted prod u ct o f fering a n d busin e ss m odel ض 3 Stable cash flow pro f ile w ith a n abi l ity to re m ain pro f ita b le t h rou g h market c y c l es ض 4 Si g ni f ica n t and real i z able earnings gro w th poten t i a l ض 5 Pr i m ary g eo g raphic a l f o cus on N o rth A meri c a a nd Europe ض 6 Abi l ity to benefit from a ccess to public mark e ts ض O v er v iew o f P ro p o s e d T ra n s a cti o n ▪ cuno v a G m bH (“ cuno v a” ) , a g l obal leader in t he m anu f ac t uring of h i gh end spec i a l t y copper produc t s, w ill m erge ind i r ec t l y , t hrough i t s so l e shareho l der Magnet Jo i nt Ven t ure G m b H , w i t h SEDA, a N Y SE lis t ed spec i al purpose acqu i si t ion co m pany ▪ cuno v a w ill concur r en t ly acqu i r e t he Aerospace bus i ness of KME G r oup (“ Aerospace” ) , a lead i ng eng i neering par t ner of t he aerospace indust r y ▪ The co m b i ned en t i t y , co m prised of cuno v a and Aerospace ( t he “ Co m pan y ”) 1 , w ill be lis t ed on N Y SE P ro forma e n terprise v alue 2 $736m P ro forma n e t d e b t 3 $289m Impl i ed E V / 2 0 2 3 P A d j u sted EB I T D A 5 v s. p e ers at 1 4 .1 x 6 9.4x 2023P 4 A d j u s ted EB I T D A 5 $78m St r ictly P r iva t e & C on fi den ti a l 1. Unless otherw i se spec i f i ed, th i s P resentat i on assumes the ac q u i s i t i on of A erospace by cunova has taken place and presents the Company on such bas i s. 2023 average E U R /U S D e x change rate of 1.081 used throughout the P resentat i on P ro forma E V calculated based on est i mated T rust V alue at clos i ng (U S $10.00/share) mult i pl i ed by pro forma shares outstand i ng (44.7m) plus pro forma net debt (U S $289m) Represents pro forma total debt of the Company less cash and cash e q u i valents ( i nclud i ng f i nanc i al cred i ts of $2.4m, wh i ch represents i nsured amounts due to cunova i n relat i on to the AB N factor i ng fac i l i t y ) as at December 31, 2023 2023P represents prel i m i nary unaud i ted f i nanc i als i n th i s presentat i on 2. 3. 4. 5. A djusted EB I T DA def i ned as net i ncome before i ncome ta x , e x cept i onal i tems (carv e - out cost), i nterest e x pense, and deprec i at i on & amort i z at i on (cunova A djusted EB I T DA of U S $61m and A erospace A djusted EB I T DA of U S $18m ) , as adjusted for the ac q u i s i t i o n of the A erospace B us i ness of K ME Group S elected peer set based on V alu e - A dd P rocessor peers ( A TI, Carpenter Technology, Rel i ance S teel & A lum i num, W orth i ngton Industr i es and T i mken) and A erospace peers ( Transd i g m , He x cel, and Howmet A erospace) based on F act S et data as at 6. February 14, 2024

H istory of a n ticipat i ng a n d meet i ng market n e e d s across a d dressab l e mar k e t s a n d w e l l p o s i t i o n ed to c a pi t al i z e on e x ist i ng gro w t h markets K e y in v estment hi g h l i g hts 5 F ebruar y 202 4 3 C o n s i ste n t, thro u g h - th e - c y cle prof i ta b i lit y w it h s u b s ta n tial lo n g - term u p side, s u p p orted by high returns a n d mar g i n s, l o w c a p ital re q u irem en ts a n d v irt u ally n o c o mmo d ity p rice e x po s u re S carce p u b li c mar k et o p p o rtu n i ty f or su b sta n t i al l o n g - term u p s i de p o te n t i al w i th dire c t e x p o s u re to the hig h - gro w t h s p a c e e x ploration market – b e n e f i tt i ng f rom propri e tary IP th a t co n tr i b u tes a d y n a m i c compet i t i v e p o s i t i o n i ng 1 Hi g h l y at t ract i v e e n try v aluat i on re l ati v e to p e ers as the C ompany cur r e n t l y e x p e cts to b e n e f i t f rom K M E Gro u p ’ s f as t - g ro w i ng A erospace b u s i n e ss, w h i ch i s e x p e cted to b e come a g re a ter propor t i on of the C ompan y ’ s o v era l l b u s i n e ss f o ll o w i ng the propos e d b u s i n e ss comb i n a t i on 7 Outl o ok su p p o rted by stro n g market fu n d a mentals a c ross k e y e n d markets 2 Long - term relat i o n s h ips w it h blue c h ip c u stomers – res u l t i ng i n l o w ch u rn a n d a p pro x i mate l y 2 5 % rec u rr i ng re v e n ue 1 4 Importa n t c o ntrib u tor to susta i n a b ili ty a n d the e n er g y tra n s i t i on i n t he e l ect r i c v e h i c l e a n d a e ros p ace e n g i ne sectors 5 6 St r ictly P r iva t e & C on fi den ti a l 1. Inclus i ve of both cunova and the A erospace bus i ness

St r ictly P r iva t e & C on fi den ti a l Comp a ny overview 1

Glob a l l e ad e r in specia l ty copp e r products 7 F ebruar y 202 4 1. 2. H i gh - voltage d i rect current 3. W orldw i de market share (percentage k€) est i mated by total market demand of moulds by reg i on based on management est i mates and the number of p i eces suppl i ed by each player as of 2020 (l i m i ted number of players i n the market). Represents 4. cast i ng technolog i es only Global market for CuNi seawater appl i cat i ons based on management est i mate; est i mated based on the share of won tenders by end market and the average to get a blended market share as of 2020 Market for copper al l oys Cu T e, Cu SP , CuCr1Zr based on management est i mates of the e x truded & drawn bus i ness as of 2020 ( i .e. e x clud i ng the spec i al parts and cool i ng elements); In E uropean E lbrodur and O S NA markets (other / emerg i ng A ddressab l e M arket Share 2 S u p plying a u n iq u e ran g e of s e awater - res i s t a n t pipe s , fla n g e s a n d f itt i n g s H igh c o n d u c tivi t y pro d u c ts for th e rmal a n d ele c tr i c a l a p pl i c a tion (e.g. H V D C 1 ) in v a r i o u s in d u s tr i al s e ctors A ddressab l e M arket Share 3 A ddressab l e M arket Share 4 50% A mark e t l e a d i n g p o siti o n in all of the se g me n ts in w h i ch it o p er a tes C a s ting A ero s p a ce Marit im e T h e market le a d e r 2 for c o mple x , c u stome r - s p e c ific c a st i ng moulds #1 M arket Positio n 2 #1 M arket Positio n 3 In d u s tr i al & E n e rgy #2 M arket Positio n 4 A le a ding e n gine e r i ng p a r t n e r of the s p a c e e x ploration in d u s try, pro v iding c o mpreh e n s ive d e sign s e rvic e s a n d high p e r f orm i ng pro d u c ts ▪ Fir s t mo v er a d v an t age on criti c al rocket engine c omponents ▪ W e belie v e w e are t h e only established supplier to nearly a ll tier - one names in the space exploration sect o r of components w e o f fer P rovides life - e x t e n ding a n d k n ow l e d g e - b e aring s e rvic e s af t er in s tal l a ti on C ompany O th e r Company Company O ther 40% O th e r 25% markets are not well def i ned) St r ictly P r iva t e & C on fi den ti a l

Wh a t w e do 8 Pro d uc e r of missi o n critic a l co p p e r pr o d u cts a n d so l uti o ns to a d i verse set of e n d mark e ts Ca s ting A erospace M aritime Industrial and Energy 5 6 % of 2 3 P A djusted EB I T D A 1 2 3 % of 2 3 P A djusted EB I T D A 1 1 1 % of 2 3 P A djusted EB I T D A 1 1 1 % of 2 3 P A djusted EB I T D A 1 F ebruar y 202 4 S u p ply a n d ser v ic e s for c u st o mer - s p e c i fi c c a sti n g moulds ma d e of sp e c i al co p p e r a ll o y s Casting T e c hnolo g ies ▪ M o u l ds f or c o n t i n u o u s s te e l c ast i ng ▪ A d v a n c ed m o ul d c o a t i n g s & m at e r i a l s Casting S e r v ic e s ▪ Rep ai r & m a i nt e n a nce S u p pl i er of pipes a n d fitt i n g s f or sh i p b u il d i ng a n d o f fsh o r e i nsta l l ati o ns Na v y ▪ S p e c i a l i z ed c o m p o n e nts to n a v al s u b m ari n es Comme r ci a l and O&G ▪ Corros i on res i s ta n t tu b e, f i tt i n g s a n d f l a n g e s f or s e a w at e r a p p l i c at i o n s S u p pl i er of rea d y - t o - in s tall c o mpo n e n t s , pressed a n d dra w n ro d s, pro f il es, a n d tu b es E xtru d ed & d r a w n E n g in e ering a n d de s ign p a r t n e r f or a e ro s p a c e , w i th a f o c us on the sp a ce e x p l orat i on e n d mar k et ▪ H i g hl y s p e c i a l i z ed c o m p o n e nts f or a e rosp a c e roc k et e n g i n e s , de s i gne d f o r cr i t i c a l app li c a t i on s i n e x tre m e e n v i ro n m e n ts S pe c ial pa r ts Cooling e l emen t s 3 D po w der A cro s s all s e gme n ts, the C omp a ny will pro v ide pro d u c ts a n d s e rvic e s th a t are of t en b o th p e r f orman c e - cr iti c a l a n d sp e ci f ied into cl i e n t pro c e s s e s Os n a b r ü ck, Germa n y Headqua r te r s > 1 ,000 Full - T ime E m p lo y e e s Global l y 9 Fa c ilities Glo b al l y c.25 Y ears A v e r age Pr ofe s sional E xpe r ience of Le a de r ship T e a m < 5 % Cust o mer Chu r n Rat e 2 30% 2 0 2 3 P A djusted E BI T DA M a r gi n 3 20% C A GR (2 0 2 1 - 2 3 P A djusted E BI T D A 1 ) #1 a n d #2 A dd r e s s a ble mar k et positio n 4 Com p any k e y stats 1. A djusted EB I T DA def i ned as net i ncom e /loss as presented i n the Company's f i nanc i al statements i n accordance w i th I F R S , as adjusted to e x clude ( i ) i ncome ta x , ( ii ) e x cept i onal i tems (on e - off carve out cost), ( iii ) i nterest e x pense, and ( i v) deprec i at i on and amort i z at i on Data based on management calculat i ons for 201 7 - 2020 per i od, does not account for Cast i ng S erv i ces and e x cludes K M E TF 2023P A djusted EB I T DA Marg i n calculated as 2023P A djusted EB I T DA (U S $78m) d i v i ded by 2023P Full A dded V alue ( see sl i de 23 for def i n i t i on of F A V ) 2. 3. 4. #1 addressable market pos i t i on i n Cast i ng Technolog i es and Mar i t i me segments and #2 i n the Industr i al & E nergy segment as of 2020 (see sl i de 7 for clar i f i cat i on on geograph i c scope of market pos i t i ons) St r ictly P r iva t e & C on fi den ti a l

Why we are n e e d ed – C a sting 9 F ebruar y 202 4 ▪ E sse n t i al to ste e l ma k i ng process – b o th BF 1 a n d EAF 2 – y et a margin a l p o r t ion (<0 . 5 % ) of a m i ll ’ s c o st b a se ▪ P rod u ct q u al i ty is p a ramou n t a n d d e mand is in e la s tic as mo u l ds are o f ten sp e c i a li z ed to the c li e n t, res u lting in high s w it c h i ng c o sts f or the c li e n t ▪ C asti n g products are co n sumab l e a n d h a v e a reg u lar s e r v ice a n d re p la c eme n t c y cl e , res u l t i ng i n r ec u rr i ng re v e n ue g e n erat i on 1. 2. 3. B last F urnace (“ B F ” ) E lectr i c A rc F urnace (“ EA F ” ) Cast i ng of no n - ferrous metals i ncludes alum i num (for th i n str i p cast i ng) Exam p le ap p licati on s C asting of flat steel C asting of long steel Casting of non - fer r ous metal s 3 We b e lie v e we are the le a ding s u p p lier of an e s s e nt i al a n d be s p o ke c o n s uma b le c o mpo n e n t to the steel in d u s try Ser v ice Descrip t ion Mo u ld C a s ting St r ictly P r iva t e & C on fi den ti a l

Why we are n e e d ed – A e rosp a ce F ebruar y 202 4 ▪ We b e lie v e w e are the o n ly e s ta b lis h ed s u p p lier of the c o mpo n e n ts w e of f er in the s p a c e e x ploration s e ctor – f i rst mo v er a d v a n tage ▪ M ar g i n a l p o rt i on of a roc k et’s cost b a se re p res e nti n g cr i t i cal e n g i ne compon e nts th a t a ll ow f or the re u se of roc k et e n g i n e s o T h i s re u sa b ili ty co n tr i b u tes to res o urce e f f i c i e n cy i n t he a e ros p ace i n d ust r y – a primary o b j ecti v e across the sector ▪ R e p uta t i on f or q u a li ty a n d re li a b ili ty ▪ B as e d on the p e r f o rm a n ce of e x i st i ng products, w e are cur r e n t l y e x plor i ng e x p a n d ing to other p a r t s of the e n gine R ocket engine components We b e lie v e we are the o n ly e s ta b lis h ed s u p p lier c a p a ble of pro v iding roc k et e n gine c o mpo n e n ts critic a l to reu s a b ilit y 1 Descrip t ion Exam p le ap p licati on s A ero s p a ce 1. 10 St r ictly P r iva t e & C on fi den ti a l K ME market i ntel l i gence

Why we are n e e d ed – Maritime & Ind u strial & E n ergy F ebruar y 202 4 ▪ W e b e li e v e w e are a top produc e r of cor r os i on res i sta n t tu b e, f i tt i n g s a n d f l a n g es f or se a w ater a p p li cati o ns ▪ P ro d ucts d e s i g n e d f or d u ra b ili ty a n d l o n g e v i ty ▪ L o y al customer b a se – trusted su p p li er to k ey w estern n a v i es ▪ T rusted su p p li er of k ey compon e nts to a v ari e ty of h i g h tech i n d ust r i es: o S p u tter tar g e t s f or L E D scre e ns o P ar t s f or H V D C p o w er tra n sm i ss i on o C o o li ng of EA F and B F o C o p p e r a ll oy p o w d e r f or 3D pri n t i ng o H o ll ow pro f il e ro d s f or li q u i d co o l ed E V motors ▪ P otent i al f or co n t i n u o u s e x p a ns i on of product o f feri n g s dri v en by g ro w th i n end mar k e t s a n d R & D i nto other a p p li cati o ns O ffshore O &G platforms Na v al submarines Hollow profiles rods for liquid cooled EV motors HV D C transmission 3D printing Commercial shipbuilding Desalination plants In d u s tr i al & E n e rgy Marit im e E A F cooling Sputter targets for LED screens Descrip t ion Exam p le ap p licati on s 11 St r ictly P r iva t e & C on fi den ti a l

Barri e rs to en t ry w ith s p ec’d in desi g ns, hi g h m arket share, kno w - ho w , cust om er co m f o rt, o n - site t e chnical consulta n ts, and a co m pre h e n si v e pat e nt port f ol i o co v er i ng niche in d ustr i es M arket standard in reliability w ith a lo n g and pro v en track record of q ual i ty in our end m arkets V alu e - add repair and maintenance ser v i c es e n h a n c i n g c l ient relations h i p s and increasing our m arket understa nd i n g Why we w i n Our u n re l e n ting foc u s on q u a l ity a n d i n n o vati o n – in e n d mark e ts w h e re co n siste n cy a n d re l i a b i l i ty are critical – se p ar a te us from the com p etiti o n a n d dr i ve r e curr i ng rev e n u e a n d gr o w th o p p o rtu n iti e s 1 2 3 4 Abi l ity to m eani ng f u l l y impact sustain a bility and cost metrics of cust o mers Pri c e insensiti v e cust o mers despite m iss i on c r it i cal a p plicati on s as products m ake up a small component of t h eir o v erall cost struct u re Stro n g and di v erse cust o mer base w ith c.1, 0 00 cust om ers per y ear across 4 contine n t s 1 C o nstant inno v ation based on deep understa nd i n g of cust om ers’ appl i c a ti o ns resulting in new s o lutio n s f or t h e chal l e ng es of cust om ers W ith our first mo v er ad v an t ag e , w e b el i e v e w e are t h e only established supplier of key components to near l y all tie r - one na m es in t h e space exploration sect o r F ebruar y 202 4 5 6 7 8 1. B ased on average annual number of un i q ue customers from January 1, 2020 to S eptember 18, 2023 12 St r ictly P r iva t e & C on fi den ti a l

F ebruar y 202 4 Glo b al l y diversif i ed with >1 , 0 0 0 F u l l - Time E mplo y e e s a n d c.1 , 0 0 0 c u stomers p e r y e a r 2 Wh e re we do bus i n e ss Glo b a l ly d i vers i fied b u si n ess mo d el – w ith e x p o sure to b o th mature a n d gr o w th mark e ts Ge o gra p hic fo o tprint B u s in e ss by region 1 Eu r ope North A merica The US i s cur r en t l y expected t o represent t he Company ’ s l argest grow t h ma r ket A P A C ~ 1 5% ~ 4 0% L A T A M & M EA P rodu ction Pla n t Se rv ice C en t r e Headquar t e r ( P rodu ction an d S er v i c e Cen t re ) 1. B ased on 2023P F ull A dded V alue (see sl i de 23 for def i n i t i on of F A V ) i nclud i ng A erospace sales located 100% i n North A mer i ca ~ 4 2% 13 2. B ased on average annual number of un i q ue customers from January 1, 2020 to S eptember 18, 2023 St r ictly P r iva t e & C on fi den ti a l ~ 3 %

St r ictly P r iva t e & C on fi den ti a l Key inves t me n t hig h lights 2

1 .7 1 .1 2 .6 5 .0 4 .3 3 .5 3 .0 6 .6 9 .2 2 0 22 2 0 23 2 0 24 2 0 25 2 0 26 2 0 27 2 0 28 2 0 29 2 0 30 S p a ce e x ploration a c tivi t y is c u rre n tly o u tp a cing reu s a b ility rate of e n gines – res u lting in p o te n tial l y more th a n tr i pl i ng of the a d dre s s a ble market size for A ero s p a ce S u bstantial d i rect e x pos u re to h i g h - growth space e x p l oration… F ebruar y 202 4 W e b e l i e ve w e are t he o n ly est a b l is h ed pr o vi d er of certa i n miss i on critic a l e q u i pm e nt to some of the most active sp a ce e x p l or a tion com p a n i e s 1 S ource: Global management consult i ng f i rm T otal p a y lo a d c o v era g e ( kt ) 1 Higher pa y loads r equi r e r oc k ets to ha v e m o r e e ngines 3 0 % C A GR E stimated A er o s p a c e a d d re s s a b le c o p p er c o mpo n e n t market (t ) 1 445 1,400 2 0 22 2 0 30 3. 1 x incr e a s e 15 1. U S A and E urope only St r ictly P r iva t e & C on fi den ti a l

0.9 0.9 1.3 1.8 2 0 20 2 0 22 2 0 25 2 0 30 35 30 25 20 15 10 5 - V ir g i n ia / V ir g inia E x t e n de d 2 3 Co lumbia C la s s Hu lls Unde r C on s t ru c t i o n 2 0 15 2 0 20 2 0 25 2 0 30 2 0 35 S S N( X) C l a s s 1 …w i th a strong outlook in other key e n d markets F ebruar y 202 4 2 Gl ob al (ex C h i n a) cru d e steel pro d u c tion o u tlo o k (m t ) Casting S ource: W orld S teel A ssoc i at i on, W ood Macken z i e 1. 2. 3. S uccessor to the V i rg i n i a C l ass V i rg i n i a C l ass S ubmar i ne Columb i a C l ass S ubmar i ne N umb e r of s u bmarin e s p e r y e a r M ar itime C o p p e r d e mand from ren e w a b l e e n ergy (m t) 4 In d ustri a l & E ne r gy ▪ G l o b al cru d e ste e l product i on (ex c l u di ng Ch i n a ) gro w th c ur r e n t l y exp e c ted to be sta bl e throu g h 2 0 30 a n d o v er t h e l ong - t e rm ▪ Vi rg i n i a C l ass Bl ock V I (10 sh i psets) a n d Co l u m b i a C l ass c u rr en t l y e x pe ct e d to b e tende r e d i n 2023 ▪ Cop p er en d - use d e m a n d f rom re n e w a bl e e n ergy s o u r c es i s cur r e n t l y exp e c ted to n e arly d o u bl e b y 2 0 30 c o m p a red to 2 0 20 818 856 2 0 15 2 0 22 947 1,058 2 0 25 2 0 30 16 4. W ood Macken z i e base case en d - use copper demand for solar and w i nd renewable energy, data only ava i lable from 2020 onwards St r ictly P r iva t e & C on fi den ti a l

W e l l - p o sit i o n ed for gro w th t hrou g h e x p o sure to key gro w th markets… F ebruar y 202 4 T rends Expected gro w th v ect o r C o mpany segment S p a ce E x p lorat i on ▪ R ec y c l a b ili ty of e n g i n e s a n d i n cre a sed f oc u s on res o urce e f f i c i e n cy ▪ Op p or t u n i ty to su p p l y a d d i t i o n al e n g i ne compon e nts E le c tr i fi c a t i on A d d iti v e Ma n ufactur i ng D efen s e S p e n d ing D e c arb o nization a n d Green S te e l ▪ C ompon e nts f or H V D C tra n sm i ss i on ▪ H o ll ow pro f il e ro d s f or w ate r - co o l ed e l ect r i c motors ▪ 3D p o w d e r a n d pri n ted so l uti o ns ▪ C ustom i z e d , cor r os i on res i sta n t p i p e s, f l a n g es a n d f i tt i n g s f or s u bm a r i n e s a n d a i rcra f t c a rr i ers ▪ EA F coo li ng f or g re e n ste e l ▪ S u p p li er to n e w est a n d l o w est emiss i on ste e l m ill s ▪ E nd to e n d a u tomat i on of ste e l p l a n ts (e. g . mo u l d as se n sor) 3 A erospace C asti n g In d ust r i al & E n e r g y In d ust r i al & E n e r g y M aritime In d ust r i al & E n e r g y 17 St r ictly P r iva t e & C on fi den ti a l

▪ G i v en the h i g h l y custom i z ed product o f fe ri n g s a n d i mp o rta n ce p l ac e d by the customer on q u a li ty a n d re li a b ili t y , co n sta n t i n n o v at i on i s i mp o rta n t to d e v e l o p i ng ta il o r - ma d e so l uti o ns t h a t me e t customer n e e d s ▪ A n e f f e c ti v e R & D f u n ct i on i s cr i t i cal to b u il d i ng mar k et sh a re i n new a n d g ro w i ng a p p li cati o ns ▪ In n o v ati o n i s su p p o rted by a f u l l i nte g rati o n of ca p a b ili t i es throu g h o n g o i ng d i a l o g ue w i th customers a n d l e a rn i n g s f rom cas t i ng ser vi ces ▪ A p o rt f o li o of a p pro x i mate l y 30 p a te n ts a n d a s i g n i f i ca n t R & D p i p e li ne …supp o r t ed by organic growth in i tiatives F ebruar y 202 4 A h i story of i n n o vati o n a n d a n tici p ati n g cust o mer n e e d s a n d mark e t tre n ds 3 C opper Po w der M R I C omponen t s H V D C T r a nsmi ss ion E A F C ooling Ram p - up Sm a rt M ould EV M o t or C ooling EV Super C ha r ging Prin te d W e lding Ca p Fie l d te s t Conc e pt Opt i m i z at i on of s a les a n d a g e n ts n e t w ork E x p a n d C a st i ng S er v ic e s c o v era g e “g o ing d o w n the c a ster” In c rease C a s ting p e n e tration in I nd ia b y l o c a l ma n u fa c t u ri n g A utomation at fla g s h ip Os n a b rück plant E ntra n ce into alum i nium c a st i ng w h e el s e x p e c ted to p ro v i d e a c c e ss to a c u rre n tly u n d e rre p rese n ted market A p p roa c h to in n o v at i on P rod u ct gro w t h ini t ia ti v es / R& D pipel i ne N e a r - term plan n ed o p erat i o n al gro w t h ini t i at i v es A ddi t ional a ddre s sa ble c omponen t s 18 St r ictly P r iva t e & C on fi den ti a l

Long - term relati o nsh i ps w i th b l ue chip customers… 19 F ebruar y 202 4 With c . 1, 0 00 custom e rs p e r y e a r 1 , the Com p a n y h a s a d iv e rsifi e d cust o mer b a se – i n cl u d i ng pr e mi e r n a mes in e a ch of its e n d mark e ts 4 Ca s ting T echnologies Ca s ting Ser v i c es A erospace Established supplier to nearly all tier - one pla y er s 2 M aritime Industrial and Energy 1. 2. B ased on average annual number of un i q ue customers from January 1, 2020 to S eptember 18, 2023 A erospace customer l i st i s redacted due to customer conf i dent i al i ty re q u i rement St r ictly P r iva t e & C on fi den ti a l

…driven by our t r ack record of p roduct rel i ab i l i ty 20 F ebruar y 202 4 Pro d uct q u a l ity a n d su b stituti o n risks dr i ve h i gh l e ve l s of rec u rri n g rev e n u e 4 ▪ M ost of t h e co m po nen ts produc e d ha v e a “ z er o - f ai l ure” t o lerance – t h eir per f orm an ce is m iss i on cr i tical to our cust om ers ▪ W e bel i e v e substit u tion r i sk is low g i v en t h e importance of rel i abi l ity to our cust om ers and our products t y pically represent a s m all port i on of t h e t o t a l cost of t h e cust om e r ’ s product ▪ T he trust of our cust om ers is, there f o re, one of our m ost important assets and a g i v es u s a d istinct co m petiti v e ad v ant a g e t h at dr i v es si g ni f ica n t recur r ing re v enue 2 3 4 T ailor m a de prod u cts o f t e n speci f i e d into m anuf a ct u rers’ product desi g ns 1 T rusted sup p li e r to U S, UK, F r ench and Ital i an na v ie s 1 > 30 y e a r a v era g e len g th of key c a sting cust om er s 2 < 5% customer chu r n across t h e port f ol i o 3 M a j ority of t h e 2 5 l a rgest steel companies source f rom cuno v a 4 5 T he Co m pa n y ’ s casting m oulds account f or < 0. 5 % of steel prod u ction cost s 5 6 Aerospace products t y pically represent a marginal alloca t ion o f t he clien t ’ s capex bud g et 7 Key Aerospace cust om ers seeking to increase c on t ent t h rough engine c o v erage 8 St r ictly P r iva t e & C on fi den ti a l 1. 2. 3. 4. 5. T i er 2 suppl i er to U S , U K , French and Ital i an nav i es K ey cast i ng customers based on lon g - stand i ng customer relat i onsh i ps w i th R i z hao S teel, A rcelorM i ttal and Nucor Data based on management calculat i ons for 201 7 - 2020 per i od, does not account for Cast i ng S erv i ces and e x cludes K M E TF Rank i ng of top steel - produc i ng compan i es i n 2022 by the W orld S teel A ssoc i at i on B ased on management’s 2020 est i mate

D e d i cated to resource e f ficie n cy and t he circu l ar econ o my and to su p p o rt the tra n sit i on to e n ergy co n servati o n 21 F ebruar y 202 4 S ources: cunova and K ME est i mates Ene r gy t r a nsition Improving m a ri t ime r es ource eff i c i e ncy M ak ing e l ect ric ve hi c l e s more eff i c i e nt C ont r ibuting t o t he Circul a r E c ono m y Prov i d e r of critical com p o n e n ts th a t s u p p ort the e n er g y tra n siti o n a n d res o urce e f fici e ncy in the a e ros p ac e , mar i time a n d ste e l ma n uf a cturi n g i n d u stries A ero s p a c e products c o n tr i b u te to the r e - use of roc k et e n g i n e s , c o n tr i b u t i ng to reso u r c e e f f i c i e n c y a n d cost 5 P os i t i o n ed to su p p l y h i gh q u a l i t y , s p e c i a l ty c o p p e r products th a t s u p p o rt the e n ergy tra n s i t i on i n t he e l ectr i c v e hi c l e s ector re d uct i on i n t he a e rosp a c e i n d ustry P ro v i d i ng c r i t i c al c o m p o n e nts to the n e w est a nd m ost e f f i c i e n t m ill s b ei ng c o n s tructed P ro d ucts d e s i g n ed to l ast t h e l i f et i m e of a s h i p/su b m ari n e S p e c i a l i z ed products th a t i m pro v e p e r f or m a n c e of E V m ot o rs a n d v e hi c l e c h a rg i ng B y re d uc i ng reso u r c e c o n s u m pt i o n , exte n d i ng the l i f e c y c l e of products, us i ng re n e w a bl e m at e r i a l s a n d re u s i ng e n d - o f - li f e products, w e are an i m p o rta n t p o s i t iv e c o n tr i b u tor to the C i r c u l ar E c o n o m y In 2023, management esti m ates ~ 5 0 - 60% of copper used by cuno v a w as rec y cled C ont r ibuting t o lo w e r ca rb o n stee l m a nuf a ct uring St r ictly P r iva t e & C on fi den ti a l Enabling re - use of A e ro s pa c e e ngines

- 2 4 , 0 0 00 4 8 , 0 0 00 6, 0 00 8, 0 00 1 0 ,000 1 2 ,000 2 0 2 3 P Cop p er Pr i c e ( U S $ / m t) 55 65 78 26% 28% 30% 2 0 21 Ad j us t ed EBI T D A ( U S $ m ) 2 0 22 Ad j us t ed EBI T D A M ar gin (% of FAV) Th e C o m p a n y p a s s e s its c o mmo d ity c o sts t h ro u g h to c u st o mer s , as d e mon s trated by its c o n s istent margins thro u gh the rece n t c o mmo d ity price c y cle A b usi n ess model that pass e s throu g h com m od i ty price risk 22 F ebruar y 202 4 6 S u p ply a g reements A d j u s ted E B I T D A 1 ( U S $m), A d j u s ted E B I T D A margin ( % ) v s co p p e r price ( U S $ / mt) 2 Copper c a sh offic i al L M E p r ice (U S $/mt) ▪ S u p p l y a g re e me n ts are i n p l ace w i th K M E a n d other su p p li ers f or pro v i s i on of mater i al i n accord a nce w i th pre - a g re e d sp e c i f i cati o ns ▪ A t the t i me the C om p a n y e n ters i nto a sa l es a g re e me n t w i th a customer, the C ompany o n l y p u rch a ses the amount of mater i al i t re q u i res f rom i ts su p p li ers ▪ T he com m o d i ty price ch a r g ed by the C ompan y ’ s su p p li ers are p a ssed throu g h to the customer ▪ T he C ompany a l so has the r i g ht to se l l scrap to K M E f or rec y c li ng S ource: Fact S et 1. 2. A djusted EB I T DA def i ned as net i ncome before i ncome ta x , e x cept i onal i tems (carv e - out cost), i nterest e x pense, and deprec i at i on & amort i z at i on Copper pr i ce data from January 1, 2021 to December 31, 2023 1 8 % g r o w th St r ictly P r iva t e & C on fi den ti a l 21% g r o w th

St r ictly P r iva t e & C on fi den ti a l C o nsistent and robust profitab i l i ty – w i th h i gh ROC E , l o w cap i tal i n tens i ty a n d i n creas i ng margi n s 23 F ebruar y 202 4 6 F A V 1 by s e gme n t ( U S $m) A d j u s ted E B I T D A margin 3 by s e gme n t ( % ) CA G R (’2 1 - ’23) 8% n.a. 29% (16 %) 1. Full A dded V alue (F AV ) i s def i ned as contractual sales i n a g i ven per i od, m i nus metal costs - i nclud i ng 3 . prem i um and handl i ng fees - wh i ch are contractual l y passed on the customers . For 2021 and 2022 , F A V i s 4 . based on i nternal consol i dat i on w i th budgeted fore i gn e x change ; i n 2023 , F A V i s based on actual fore i gn 5 . e x change C A GR i s calculated as adjusted for A erospace 2. S hown as a percentage of F A V Includes capex attr i butable to cunova 2022 cunova OCF U S $35m and A erospace OCF U S $4m; 2023P cunova OCF U S $53m and A erospace OCF U S $12m Return on Cap i tal E mployed 6. E xisting b a c k log as of F e bru a ry 2 0 2 4 : U S $ 1 2 8 m F A V 1 37 46 44 2 0 21 C a s t i ng 2 0 22 2 0 2 3 P I n d u s tr i a l & E n e rgy A ero s p a c e M a r i t i me 20 % 2 A d j u s ted E B I T D A by s e gme n t ( U S $m) A d d itio n al fin a n c ial metr i cs CA G R (’2 1 - ’23) 10% n.a. 2% (4 %) 12 % 2 126 144 154 44 11 27 42 43 43 36 39 211 235 264 2 0 2 1 2 0 2 2 C a s ti n g A e r o s pa ce M a r i ti m e 2 0 23 P I n du str i a l & E ne r g y 6 18 5 4 8 12 8 9 55 65 78 30% 32% 28% n.a. 56% 65% 12% 10% 20% 22% 28% 23% 26% 28% 30% 2 0 21 2 0 22 C a s ti n g A e r o s pa ce M a r i ti m e I n du str i a l & E ne r g y 2 0 2 3 P Tot a l m a r g i n 2023P 2022 $15m $13m Cape x 4 $65m $39m O CF 5 32% 26% R O CE 6 Sho w n on a consolidated basis

A n ticip a ted bus i ness growth drivers F ebruar y 202 4 6 Cast ing M a ri t ime Indus t ri a l & Ene r gy A e ro s pa c e ▪ O v er the l o n g - ter m , to p - li ne exp e c ted to grow at a hi g h er r ate t h an g l o b al c ru d e s te e l prod u c t i on (ex c l u di ng Ch i n a ) o S te e l m ar k et o u tp e r f or m a nce dri v en b y : • Incre a s i ng s er vi c e p o rt f o l i o of Cast i ng S er vi c es – “g oi ng d o w n the c aster” a n d p ro d ucts m a n u f actured by ot h er s u p p l i ers • Incre a s i ng m ar k et s h a re of Cast i ng T ech n o l o gi es throu g h o p t i m i z at i on of g o - to - m ar k et s trat e g y , i nc l u di ng m a k i ng k ey h i res i n k ey re gi o n s • Incre a s i ng pre s e n c e a n d m ar k et s h a re i n In di a ▪ P ot e nt i al f or f urther gro w th throu g h i m p l e m e n t i ng m o ul d as a cr i t i c al s e n s or i n s te e l p l a n t a ut o m at i on ▪ M a rg i ns exp e c ted to s li g h t l y i m pro v e w i th to p - li ne gro w th d u e t o f i x ed c ost a b s orpt i on a n d o pt i m i z at i on of product i on pro c ess ▪ O v er the l o n g - ter m , top l i ne exp e c ted to grow proport i o n at el y w i th exp a ns i on of a d dre ss a bl e c o p p e r c o m p o n e nt m ar k et ▪ P ot e nt i al f or f urther gro w th o v er the m e di um to l o n g t erm throu g h exp a n di ng product o f f eri n g to a d d i t i o n al c o m p o n e nts of the ro c k et e n g i ne a n d i ncre a s es to n o n - s at elli te s p a c e exp l orat i on act iv i ty ▪ M a rg i ns exp e c ted to i m pro v e w i th to p - li ne gro w th d u e to f i x ed c ost a b s orpt i on ▪ O v e r th e m ed i u m to l on g - t e r m , t o p li n e e x pe ct e d to g r o w p r opo rt i ona t e l y w i th i n cr ea s e s i n s ub m a r i n e pa rt de m an d an d up stre a m O & G s pen d o Vi rg i n i a C l ass Bl ock V I (10 sh i psets) a n d C ol u m b i a C l ass exp e c ted to be te n d e red i n 2 0 23 ▪ Sli g h t m arg i n exp a ns i on exp e c ted i n t he n e a r - term d u e to i ncre a s i ng d e m a n d of CuNi 7 0 /30 f i tt i n g s m a i n l y used i n s u b m ari n es ▪ Rece n t n e g a t iv e A djusted EB I T DA gro w th dri v en by w e a k n e s s i n c ore m ar k ets, m ost n o ta bl y s p u tt e r sc re e ns f or L E Ds ▪ Core m ar k et reco v ery exp e c ted to s u p p o rt ret u rn to h i s tor i c al e a rn i n g s l e v e l s i n the n e a r - term ▪ Further i ncre m e n tal top - li ne a n d m arg i n gro w th exp e c ted throu g h exp a ns i on i nto n e w m ar k et s , i nc l u di ng a d d i t iv e m a n u f a c tur i ng a n d EV tech n o l o g y Ma n a g eme n t’s c u rre n t v iew 24 St r ictly P r iva t e & C on fi den ti a l

Att r active entry va l uati o n – w i th sign i ficant poten t ial upside F ebruar y 202 4 7 E V / 2 0 2 3 P A d j u s ted E B I T D A (x) S ource: Fact S et as at February 14, 2024 1. 2. 9.4x E V / EB I T DA rat i o calculated based on a t - merger enterpr i se value of U S $736m and 2023P A djusted EB I T DA of U S $78m, as adjust e d for the ac q u i s i t i on of the A erospace B us i ness of K ME Group 2023P A djusted EB I T DA Marg i n calculated as 2023P A djusted EB I T DA (U S $78m) d i v i ded by 2023P revenue (U S $485m) A ero s p a c e ’s c o ntrib u tion to the C omp a n y ’s A djusted E B IT D A is c u rre n tly e x p e cted to mea n in g ful l y grow o v er the n e xt d e c a de 3. 2023P A djusted EB I T DA Marg i n (% of F AV ) calculated as 2023P A djusted EB I T DA (U S $78m) d i v i ded by 2023P F ull A dded V alue (see s l i de 23 for def i n i t i on of F AV ) 25 St r ictly P r iva t e & C on fi den ti a l ro s pa ce f o c u s e d ro c e ss or s A e V a lu e - ad d p 23.1x A e r ospace ta r gets a s pe c ific in d ustry s e gment w hich cur r en t ly 19.7x 20.5x p re mium to c e s s o r s s a t a s ignifi ca nt v alue - add p r o 11.3x t ra d e 12.0x 8.5x 8.9x 9.0x 9.4x 1 (P r opo sed T r a n sacti on ) 13% 19% 13% 13% 15% 23% 18% 50% 16% 2 30% (% of FAV ) 3 2023P A djusted EBITDA M argin (% of gross sales)

K e y takea w ays F ebruar y 202 4 A ttract i v e entry p o int w it h signi f ic a nt p o te n tial to in c rease v alue First mo v er a d v a n ta g e pro v i d i ng d i rect e x p o sure to a l l t i e r - o n e sp a ce e x p l orat i on compan i es – a sector w e be li e v e i s c u rre n tly p o si t io n ed for s u b s ta n tial gro w t h E stabl i s h ed le a d e r in all k e y s e gme n ts – w i th h i g h mar k et sh a re, rec u rr i ng re v e n ue a n d b a rr i ers to e n try R o b u s t fu n d a mentals a n d strong o u tlo o k c u rre n tly a c ross all k e y e n d - markets – w i th i d e nti f i ed i n i t i ati v es u n d e r w ay to ma x i m i z e e x p o sure Hi story of stro n g margin s , thro u gh - th e - c y cle prof i ta b i lit y , a n d cash fl o w g e n e ration S trong b a c k ing from K ME , a g l o b al l e a d e r i n copp e r products – a d e mo n strati o n of co n f i d e nce i n t he C ompan y ’ s f utu r e D emo n strated le a d e r in q u al i ty a n d in n o v at i on – dri v i ng l ow ch u rn a n d rec u rr i ng re v e n ue H e i g htened strategic fo c us a n d a c c o mplis h ed man a g e ment te a m D e d i cated to res o urce ef f iciency a n d t he circ u lar e c o n omy a n d to s u p p ort the tran s it i on to e n ergy c o n s er v at i on ض ض ض ض ض ض ض ض ض 26 St r ictly P r iva t e & C on fi den ti a l

St r ictly P r iva t e & C on fi den ti a l Cor p or a te hist o ry & tra n saction ove r view 3

C o rporate h i story: carve out p rocess c o mmenced 2 0 20 E n h a nc e d strate g ic foc u s – b e n e fiting from a l e an or g a n iz a tio n al structure a n d h i gh q u a l ity ma n a g em e nt te a m w ith a p rov e n track rec o rd 1920s 1 2020 - 2022 2 2022 - 2023 2024 F ebruar y 202 4 P ro l i f erat i on of s p a c e exp l orat i on dri v es s u b s ta n t i al gro w th at A e r ospace New l e a d e r s h i p t e a m at c u n o v a K M E c a r v e s ou t K M E S pe c i a l P a r agon acq ui res 5 5 % i nt e rest i n K M E S pe c ia l , w i th K M E ret ai n i ng 4 5 % o w n e r s h i p P a r agon pro vi d e s i nst i tu ti o n al pri v ate e q u i ty s u p p o rt to e n h a nce the K ME S p e c i al car v e - o u t p rocess K M E S pe c ial r ebr a nds to cuno v a K M E ’s speci a lty copper business h a s b e en i n o p e rat i o n s since the 1 9 2 0s 1 Pr o v en t r a c k r e c o r d as a s uc c es s f ul a n d sta n d al o n e b u s i n e s s u ni t H istory of s u c c e s s of le g a c y c u n o v a b u siness K ME S p e cial c a r v e - o u t, in v e s tment from P ara g on & rebra n ding to c u n o v a C o n tin u ed impro v eme n t at c u n o v a & tran s forma ti o n al gro w t h at A ero s p a ce 1. Internal K ME est i mate K M E ’s d e sire to rollo v er its e q ui t y in the C omp a ny (a n d in c rease its ef f e c tive owners h ip of c u n o v a ) d e mon s trates its c o nf i d e n c e in the C omp a ny a n d i ts lo n g - term s u c c e s s A ero s pa ce bu sin e ss A ero s pa ce bu sin e ss 28 2. K ME carved out K ME S pec i al i n 2020; the merger between K ME S pec i al and P aragon closed i n 2022; rebrand i ng to cunova was comp l eted i n 2023 St r ictly P r iva t e & C on fi den ti a l

Dr. P eter Böhlke Group D ir ect or, Te c hno l ogy & Deve l op m e nt 23 y ears experience • G r ou p D ir e ct or , Tec hno lo g y & De v e lo p m en t a t K M E since No v e m be r 201 9 • J o in e d K M E in 200 3 a s t h e Tec hn i c a l Coord in a t or , Ro ll e d P rodu cts J a ck A . Ros e r Hea d of Cast ing S e r v i ce s 23 y ears experience • Hea d o f Ca sting s er v i c e s • P re v io u sly C EO an d P re sid en t o f Ro s e r Tec hno lo g ies, I n c w h i c h w a s a c qu ir e d b y c uno v a o n J anuar y 1 , 202 2 Kla a s Unteu t s c h Hea d of M e l t ing & Cast ing Te c hno l ogi e s 17 y ears experience • Hea d o f M e lting & Ca sting Tec hno lo g ies since M ar ch 202 3 • J o in e d K M E in A pr il 201 6 a s t h e Co mm er c i a l D ir e ct o r M ichael V oll a nd Hea d of M a ri t ime A pp l i cat ions 30 y ears experience • Hea d o f M ar iti m e A pp lic a tio n s since J anuar y 200 9 • J o in e d K M E in Fe b ruar y 199 3 a s S a les M anage r an d s er v e d in t h is po sition f o r m or e t ha n 1 5 y ear s P hilip S chröder Hea d of I ndus t ri a l a nd Ene r gy App l i cat ions 13 y ears experience • Hea d o f I ndu st r ial A pp lic a tio n s since Fe b ruar y 202 4 • P re v io u sly Hea d o f BU W e W ire an d Hea d o f S a les a t Corop last f o r appro x . 4 y ear s W e r ner S tegmüll e r C hi e f E xec u t i v e O f f i ce r Dr. S a s cha S tempel C hi e f Op e r at ing O f f i ce r • C OO since M ar ch 202 3 • P re v io u sly C OO o f B r illux f o r >4 y ear s 24 y ears experience D r . W olf v a n Lenge r ich C hi e f Finan c i a l O f f i ce r R e f r eshed and h i g h - qu a l i ty l e ad e rship team, w i th the man a gement team av e rag i ng c.25 ye a rs of profess i o n al e x p e rie n ce F ebruar y 202 4 • C FO si n ce Au g u st 202 3 • P re v io u sly C FO o f Ei c k ho ff M a sc h in en f abr ik un d Ei s eng ieß ere i f o r >3 y ear s, M a sc h in en f abr ik B ernar d K ron e f o r >4 y ear s 20 y ears experience 31 y ears experience • C EO si n ce J anuar y 202 3 • P re v io u sly C EO o f G r iess o n - de B eu k e la e r f o r 7 m on t h s & Th e o M ü ll e r grou p o f c o m pan ies f o r >4 y ear s 29 St r ictly P r iva t e & C on fi den ti a l

T rans a ction ov e rview 30 2. 3. 4. 5. g i ven to N i colo Dub i n i ) P ro forma shares outstand i ng calculated us i ng total e q u i ty value (U S $447m) d i v i ded by est i mated T rust V alue at clos i ng (U S $10.00/share) Cash ( i n trust & any P I PE ) i s U S $175m and i f not reached K ME comm i ts to fund max U S $35m i n order to reach to U S $175m Tax coverage to be pa i d to K M E , f i nal amount to be determ i ned based on d i l i gence P aragon V ender Loan A greement or s i m i lar i nstrument, the terms of wh i ch are to be f i nal i z ed i n connect i on w i th the proposed bus i ness comb i nat i on 10. Illustrat i ve transact i on e x penses 6. 7. 8. 9. Ill u strative va l u a tio n , o w n e rsh i p a n d so u rces & us e s F ebruar y 2024 1. SE DA sharehold i ng i ncludes sponsor promote attr i butable to S D C L and SE DA I P O anchor i nvestors and any SE DA P I P E shareholders ( SE DA may enter i nto subscr i pt i on agreements w i th certa i n P I P E i nvestors to consummate a concurrent P I P E f i nanc i ng). Th i s amount does not i nclude shareholder redempt i ons wh i ch may take place i n connect i on w i th the shareholder meet i ng to vote on the e x tens i on or the shareholder meet i ng to vote on the bus i ness comb i nat i on A ssumes share pr i ce of U S $10.00 / share and no redempt i ons, warrant d i lut i on, or amendment to the terms of the publ i c warrants Calculated based on est i mated T rust V alue at clos i ng (U S $10.00/share) mult i pl i ed by K ME pro forma ownersh i p (26.9m shares) Includes SE DA publ i c shareholders and/or any P I P E shareholders (14.0m shares) Includes promote shareholders ( A ppro x . 1.8m shares of SE DA promote, 2.0m shares of anchor promote and 0.025m shares K M E SE DA public sha r eholders (including any P I P E sha r eholder s ) SE D A 1 Illu s t ra ti v e pro forma o w n e rsh i p Illu s t ra ti v e pro forma v aluat i on at close 6 0 .1% St r ictly P r iva t e & C on fi den ti a l 3 1 .3% 8. 5 % $10.00/ s ha re U S $/sh a re E s t i m at e d trust v a l ue at c l os i ng 44.7m m P ro f or m a s h a res o u tsta n d i n g 6 $447m U S $m T otal equity v alue $289m U S $m P ro f or m a n e t d e b t $736m U S $m Pr o fo r ma en t e r p r ise v alue $78m U S $m 2 0 2 3 P A djusted EB I T DA 9.4x rat i o I m p l i ed E V / 2 0 2 3P A djusted EB I T DA V alue (U S $m) S ha r es (m) Illust r ati v e p r o fo r ma o w ne r shi p 2 $269 m 3 26 . 9 m K ME $140m 14.0m SE DA p u b l i c s h a re h o l d e r s 4 $38m 3 . 8 m SE D A 5 $447m 44.7m T otal Illu s t ra ti v e s o urc e s & u s es (U S $m) Uses (U S $m) S ou r c e s $135m C a s h to P a r ago n $175m C a s h (in tr u s t & an y P I PE ) 7 $20m K ME t a x c ove r ag e 8 $228m E x i s ti n g ne t deb t $228m E x i s ti n g ne t deb t r o ll ove r $269m K ME r o ll ove r equ ity 3 $269m K ME r o ll ove r equ it y 3 $61m P a r ago n V L A 9 $20m T r an s a c ti o n e x pen s e s 10 $61m P a r ago n V L A 9 $732m T otal us e s $732m T otal sou r c e s

C a p i tal i zati o n summary Pro forma ca p ital structure 31 F ebruar y 202 4 P ro forma c a pi t al stru c ture ( U S $m) 1. 2. 3. U S $30m lease l i ab i l i t i es are attr i butable to rent of operat i onal locat i ons and other lease l i ab i l i t i es P aragon V ender Loan Note or s i m i lar i nstrument, the terms of wh i ch are to be f i nal i z ed i n connect i on w i th the proposed bus i n e ss comb i nat i on P ro forma cash and cash e q u i valents pos i t i on i ncludes f i nanc i al cred i ts of U S $2.4m, represent i ng i nsured amounts due to cunova i n relat i on to the AB N factor i ng fac i l i ty St r ictly P r iva t e & C on fi den ti a l Pro forma Net Debt x 2023P A djusted EBITDA Interest Rate M aturity (ratio) (as of 31 Dec 2023) T LA: J anuary 31, 2028 T LB: J anuary 31, 2029 T LA: EU R IB O R + 6.25% T LB: EU R IB O R + 6.50% 2.4x $191 Cuno v a - T erm Debt T LC: J anuary 31, 2029 T LC: S O FR + 7.00% ABN Fa c toring: EU R IB O R + 1 .1% ABN Fini s hed goods finan c ing: EU R IB O R + 1.4% 0.4x $29 Cuno v a - O ther Debt PNC RCF: S O FR + 2.75% 0.4x $30 Cuno v a - Lea s e Liabilit i e s 1 4 y ears from c lo s ing 10.0% 0.8x $61 Paragon VLN 2 4.0x $311 Total Debt ($22) Le ss : Ca s h and Ca s h Equi v alent s 3 3.7x $289 Net Debt

St r ictly P r iva t e & C on fi den ti a l A Appe n dix

Sc r a p Ro l ling & sa w ing Foundry Raw m a t erials Tes t ing Annealing Coa t ing R&D, Des i gn, and Eng i neering Sa l es R&D, Des i gn, and Eng i neering Sa l es + I n t ermed i a t e H o w we do it W e p artic i p a te in the hi g h e st va l u e - a d d e d se g me n t of the co p p e r su p p l y ch a in F ebruar y 202 4 Suppliers ( n o cuno v a exposur e ) Operations Fin i shed product Cu tt ing Hot r olling r o l ling Cas t ing Ser v ice & m a i n t enance M a nu f ac t u ri n g ou t s ou r ce d to K ME O perat i ons Fin i shed product A ero s pa ce bu sin e ss Mach i n i ng ( cu t t ing, dra w ing, ex tr us i on) 33 St r ictly P r iva t e & C on fi den ti a l Pr e - m a t erial ( slab or b i lle t )

F ebruar y 202 4 45% 100% 60. 1 % (basic basis) 180 - d a y lock u p E quity r ollo v er C urrent K ME o w n e rsh i p P ro forma K ME o w n e rship Strong share h o l d e r su p p o rt for the tra n sact i on A ero s pa ce bu sin e ss A ero s pa ce bu sin e ss 34 St r ictly P r iva t e & C on fi den ti a l

35 St r ictly P r iva t e & C on fi den ti a l A d justed E B ITDA rec o nc i l i ati o n F ebruar y 202 4 1. V alues may not add up due to round i ng c u n o v a A ero s p a ce 2023P 2022 2021 U S $m 1 6 15 22 Net i nco m e 9 8 4 Inco m e t axes 33 20 10 In t ere s t e x p e nse 8 9 10 Depre c i at i on & A m ort i z at i on 56 52 47 E BI T DA 5 7 8 E xc e p t i o n al It e m s ( c ar v e - out cost) 61 59 55 A djusted E BI T DA 2023P 2022 2021 U S $m 1 12 4 - Net i nco m e 5 - - 2 - - - - - Inco m e t axes In t ere s t e x p e nse Depre c i at i on & A m ort i z at i on 18 6 - E BI T DA - - - E xc e p t i o n al It e m s ( c ar v e - out cost) 18 6 - A djusted E BI T DA

RO C E reco n ci l i a tion 1. 2. V alues may not add up due to round i ng P lease see prev i ous sl i de for the A djusted EB I T DA reconc i l i at i on 36 St r ictly P r iva t e & C on fi den ti a l F ebruar y 202 4 c u n o v a P ro F o rma 2023P 2022 2021 U S $m 1 61 59 55 A djusted E B I T DA 2 (8) (9) (1 0 ) Depre c i at i on & A m ort i z at i on 52 51 45 A djusted E BIT 379 369 n.a. T ot a l A ss ets (1 5 7) (1 5 2) n.a. T ot a l Cur r e n t L i a b ili t i es 24% 23% n.a. R O CE 2023P 2022 2021 U S $m 1 78 65 55 A djusted E B I T DA 2 (8) (9) (1 0 ) Depre c i at i on & A m ort i z at i on 70 57 45 A djusted E BIT 379 369 n.a. T ot a l A ss ets (1 5 7) (1 5 2) n.a. T ot a l Cur r e n t L i a b ili t i es 32% 26% n.a. R O CE

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