TransDigm (TDG) official guidance

•EBITDA As Defined is anticipated to be in the range of $5,490 million to $5,550 million compared with $4,760 million in fiscal 2025, an increase of 16% at the midpoint (an increase of $100 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.5% for fiscal 2026);

The midpoint of fiscal 2026 EBITDA as defined guidance is now $5.42 billion or up approximately 14%, with an expected margin of around 52.3%.

EBITDA As Defined is anticipated to be in the range of $5,370 million to $5,470 million compared with $4,760 million in fiscal 2025, an increase of 13.9% at the midpoint (an increase of $210 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.3% for fiscal 2026);

The midpoint of fiscal 2026 EBITDA-defined guidance is now $5.21 billion, or up approximately 9%, with an expected margin of around 52.4%.

EBITDA As Defined is anticipated to be in the range of $5,140 million to $5,280 million compared with $4,760 million in fiscal 2025, an increase of 9.5% at the midpoint (an increase of $60 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.4% for fiscal 2026);

The midpoint of our fiscal 2026 EBITDA as defined guidance is $5.15 billion, or up approximately 8%, with an expected margin of around 52.3%.

EBITDA As Defined is anticipated to be in the range of $5,075 million to $5,225 million compared with $4,760 million in fiscal 2025, an increase of 8.2% at the midpoint (corresponding to an EBITDA As Defined margin guide of approximately 52.3% for fiscal 2026);

•EBITDA As Defined is anticipated to be in the range of $5,490 million to $5,550 million compared with $4,760 million in fiscal 2025, an increase of 16% at the midpoint (an increase of $100 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.5% for fiscal 2026);

The midpoint of fiscal 2026 EBITDA as defined guidance is now $5.42 billion or up approximately 14%, with an expected margin of around 52.3%.

EBITDA As Defined is anticipated to be in the range of $5,370 million to $5,470 million compared with $4,760 million in fiscal 2025, an increase of 13.9% at the midpoint (an increase of $210 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.3% for fiscal 2026);

The midpoint of fiscal 2026 EBITDA-defined guidance is now $5.21 billion, or up approximately 9%, with an expected margin of around 52.4%.

EBITDA As Defined is anticipated to be in the range of $5,140 million to $5,280 million compared with $4,760 million in fiscal 2025, an increase of 9.5% at the midpoint (an increase of $60 million at the midpoint from prior guidance and corresponding to an EBITDA As Defined margin guide of approximately 52.4% for fiscal 2026);

The midpoint of our fiscal 2026 EBITDA as defined guidance is $5.15 billion, or up approximately 8%, with an expected margin of around 52.3%.

EBITDA As Defined is anticipated to be in the range of $5,075 million to $5,225 million compared with $4,760 million in fiscal 2025, an increase of 8.2% at the midpoint (corresponding to an EBITDA As Defined margin guide of approximately 52.3% for fiscal 2026);

•Adjusted earnings per share is expected to be in the range of $40.62 to $41.46 per share compared with $37.33 per share in fiscal 2025, an increase of 10% at the midpoint compared to prior year (and an increase of $1.52 per share at the midpoint from prior guidance);

The midpoint of adjusted EPS is now expected to be $39.52. We believe we are well positioned for the second half of our fiscal 2026.

Adjusted earnings per share is expected to be in the range of $38.83 to $40.21 per share compared with $37.33 per share in fiscal 2025, an increase of 5.9% at the midpoint compared to prior year (an increase of $1.14 per share at the midpoint from prior guidance);

The midpoint of adjusted EPS is now expected to be $38.38.

Adjusted earnings per share is expected to be in the range of $37.42 to $39.34 per share compared with $37.33 per share in fiscal 2025, an increase of 2.8% at the midpoint compared to prior year (an increase of $0.87 per share at the midpoint from prior guidance);

The midpoint of adjusted EPS is expected to be $37.51.

Adjusted earnings per share is expected to be in the range of $36.49 to $38.53 per share compared with $37.33 per share in fiscal 2025, an increase of 0.5% at the midpoint compared to prior year;

For the full fiscal year, we now expect our free cash flow guidance to be closer to $2.5 billion, an increase from the prior guide of $2.4 billion.

Our free cash flow guidance is unchanged, and we continue to expect free cash flow of approximately $2.4 billion for fiscal 2026.

With regards to liquidity and leverage for fiscal 2026, as we would traditionally define our free cash flow from operations at TransDigm, which again is EBITDA as defined, less cash interest payments, CapEx, and cash taxes, we estimate this metric to be close to $2.4 billion.

•Net sales are anticipated to be in the range of $10,470 million to $10,550 million compared with $8,831 million in fiscal 2025, an increase of 19% at the midpoint (an increase of $150 million at the midpoint from prior guidance);

The midpoint of our fiscal 2026 revenue guidance is now $10.36 billion, or up approximately 17% over the prior year.

Net sales are anticipated to be in the range of $10,300 million to $10,420 million compared with $8,831 million in fiscal 2025, an increase of 17.3% at the midpoint (an increase of $420 million at the midpoint from prior guidance);

The midpoint of our fiscal 2026 revenue guidance is now $9.94 billion, or up approximately 13% over the prior year.

Net sales are anticipated to be in the range of $9,845 million to $10,035 million compared with $8,831 million in fiscal 2025, an increase of 12.6% at the midpoint (an increase of $90 million at the midpoint from prior guidance);

The midpoint of our fiscal 2026 revenue guidance is $9.85 billion, or up approximately 12% over the prior year.

Net sales are anticipated to be in the range of $9,750 million to $9,950 million compared with $8,831 million in fiscal 2025, an increase of 11.5% at the midpoint;

◦Commercial aftermarket revenue growth in the low double-digit percentage range;

We expect commercial aftermarket revenue growth to be in the high single-digit to low double-digit percentage range, with this growth dependent upon the dynamic and evolving situation in the Middle East.

Commercial aftermarket revenue growth in the high single-digit to low double-digit percentage range;

commercial aftermarket revenue growth to be in the high single-digit % range

Commercial aftermarket revenue growth in the high single-digit percentage range;

Commercial aftermarket revenue growth is expected to be in the high single-digit percentage range, and defense revenue growth in the mid-single-digit to high single-digit percentage range.

Commercial aftermarket revenue growth in the high single-digit percentage range;

◦Commercial OEM revenue growth in the mid-teens percentage range;

We expect commercial OEM revenue growth in the low double-digit to mid-teens percentage range.

Commercial OEM revenue growth in the low double-digit to mid-teens percentage range;

We expect commercial OEM revenue growth in the high single digits to mid-teens % range, which is highly dependent on the evolution of the production rates in the commercial OEM environment.

Commercial OEM revenue growth in the high single-digit to mid-teens percentage range;

We expect commercial OEM revenue growth in the high single-digit to mid-teens percentage range, which is highly dependent on the evolution of the production rates in the commercial OEM environment.

Commercial OEM revenue growth in the high single-digit to mid-teens percentage range;

◦Defense revenue growth in the high single-digit to low double-digit percentage range.

Lastly, we expect defense revenue growth in the high single-digit percentage range.

Defense revenue growth in the high single-digit percentage range.

and defense revenue growth in the mid-single digit to high single-digit % range.

Defense revenue growth in the mid single-digit to high single-digit percentage range.

Commercial aftermarket revenue growth is expected to be in the high single-digit percentage range, and defense revenue growth in the mid-single-digit to high single-digit percentage range.

Defense revenue growth in the mid single-digit to high single-digit percentage range.

For the full year, we expect working capital to end roughly in line with historical levels as a percentage of sales.

For the full year, we expect working capital to end roughly in line with historical levels as a percentage of sales.

For 2026, I'd expect similar to prior years, which is, as a percentage of sales, around 2.5% to 3%, somewhere around there for next year.

Earnings per share is expected to be in the range of $33.91 to $35.29 per share based upon weighted average shares outstanding of 58.0 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 7.9% at the midpoint (an increase of $1.17 per share at the midpoint from prior guidance);

Earnings per share is expected to be in the range of $32.47 to $34.39 per share based upon weighted average shares outstanding of 58.3 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 4.2% at the midpoint (an increase of $0.86 per share at the midpoint from prior guidance);

On the share count, we expect our weighted average shares outstanding to be 58.5 million shares in fiscal 2026.

Earnings per share is expected to be in the range of $31.55 to $33.59 per share based upon weighted average shares outstanding of 58.5 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 1.5% at the midpoint;

Earnings per share is expected to be in the range of $33.91 to $35.29 per share based upon weighted average shares outstanding of 58.0 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 7.9% at the midpoint (an increase of $1.17 per share at the midpoint from prior guidance);

Earnings per share is expected to be in the range of $32.47 to $34.39 per share based upon weighted average shares outstanding of 58.3 million shares, compared with $32.08 per share in fiscal 2025, which is an increase of 4.2% at the midpoint (an increase of $0.86 per share at the midpoint from prior guidance);

Net income is anticipated to be in the range of $2,026 million to $2,106 million compared with $2,074 million in fiscal 2025, a decrease of 0.4% at the midpoint primarily due to additional interest expense relating to the financing activities completed during the fourth quarter of fiscal 2025 and the second quarter of fiscal 2026 (an increase of $58 million at the midpoint from prior guidance);

| GAAP Net Income | $1,952 to $2,064 | $1,906 to $2,026 | $42 |