Introduction to Chemring Group

Chemring is a leader in Countermeasures, Sensors and Energetic SystemsCompany overview Financial summary (£m)

Company management

Segment breakdown

FY 2016 Sales: £477m

Chemring develops and manufactures protection solutions for defense and security markets worldwide

Operates in three market sectors:

– Countermeasures: Offers protection for aircraft, ships and land platforms against guided missile threats – growth from F-35

– Sensors: Provides equipment to detect, disable and defeat the threats posed by concealed IEDs (improvised explosive devices) unexploded ordnance, electronic warfare, and chemical and biological agents– growth from US detection programs; HMDS, NGCD and JBTDS

– Energetic: Offers military pyrotechnics, 40mm ammunition, and a range of high reliability energetic components for aircraft, missiles and space applications

Serves customers in more than 50 countries worldwide

Headquartered in Romsey, UK, it has an employee strength of 2,577 worldwide, at locations in the UK, the US, Norway, United Arab Emirates and Australia

– US businesses (except CED): Operate under an SSA and SSA Board

Michael Flowers Chief Executive Officer

Andrew Lewis Group Finance Director

Rik Armitage Group Director of Strategy & Technology

Rupert Pittman Group Director of Corporate Affairs

Sarah EllardGroup Legal Director

FY 2016 EBIT: £48.5m

Terry Bridgewater Group Safety Director

2

FYE Oct FY16A FY17E FY18E

Group Revenue £477.1 547.0 514.1

Group Operating Profit

Countermeasures- Margin

12.89.3%

11.99.0%

15.912.0%

Sensors- margin

11.411.8%

12.012.0%

18.214.0%

Energetics- Margin

31.713.1%

37.712.0%

31.412.5%

Corporate & unallocated -7.4 -10.0 -10.5

Group EBIT 48.5 51.7 55.0

Group Margin 10.2% 9.4% 10.7%

Source: Investec Securities estimates / company accounts

Energetics51%

Countermeasures29%

Sensors20%

Energetics57%Countermeasures

23%

Sensors20%

Chemring is structured into three operating divisions

The Energetics segments manufactures military pyrotechnics and a range of high reliability energetic components for aircraft, missiles and space markets. Applications include emergency egress, missile and space systems

Also manufactures military pyrotechnic products (land forces ammunition, smokes and illumination and training effects), as well as high explosive products, including mine-field clearance systems, demolition stores and 40mm grenades

The Countermeasures segment manufactures expendable countermeasures for protecting air, sea and land platforms

This segment’s products include conventional and advanced flares, special material decoys, chaff, as well as naval RF and IR decoys and naval decoy launchers

The Sensors segment provides technologies and services for chemical, biological and IED threat detection, electronic warfare and cyber protection

Manufacture a range of detonators, initiators and disruptors for demolition and explosive ordnance disposal

Provides force protection (detection, route clearing & breaching and site access & security) as well as homeland security (electronic warfare, electronic surveillance and signals intelligence)

F-15 FlaresSH-60 Seahawk Flares Mine DetectionIED Disruptor Thrusters40mm Munitions

Countermeasures

Sales: £138.3m (29.0% of FY 2016 Group

sales)

EBIT: £12.8m (FY 2016)(1)

Sensors

Sales: £96.9m (20.3% of FY 2016 Group sales)

EBIT: £11.4m (FY 2016)(1)

Energetics

Sales: £241.9m (50.7% of FY 2016 Group

sales)

EBIT: £31.7m (FY 2016)(1)

Chemring Countermeasures UK

Chemring Countermeasures US (Kilgore Flares)

Chemring Countermeasures US (Alloy Surfaces)

Chemring Australia

Chemring Technology Solutions (UK)

Roke (UK)

Chemring Sensors & Electronic Systems (US)

Chemring Australia

Chemring

Ordnance (US)

Chemring Prime Contracts (UK)

Chemring Defence (UK)

Chemring

Energetics (UK)

Chemring Nobel (Norway)

Chemring Energetic Devices (US)

Energetic sub-systemsMilitary pyrotechnics

3

Sep-09

Acquires Hi-Shear Technology for $132.3m

Jun-10Acquires Allied Defense Group for $68.5m

Aug-10Acquires Roke Manor Research for $89.3m

Apr-11Acquires General Dynamics Detection Systemsfor $90.0m

Apr-14Sells Mecar & Simmel for $164.8m May-14Acquires 3d-Radar for $3.0mJun-14Sells Chemring Defence Germany for $3.8m

£67m £95m £85m £110m £126m £121m£188m

£255m

£354m

£504m £597m

£724m £740m

£472m£403m £377m

£477m7.3x8.8x

9.9x9.0x

7.8x 7.9x

11.3x

12.8x11.6x

8.7x9.9x

8.8x

7.1x8.8x

9.7x

13.0x

9.4x

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Feb-01Acquires Alliant Kilgore Flares for $23.0m

Jul-05Acquires Comet for $11.6mSep-05Acquires Chemring Energetics UK for $39.3m Nov-05Acquires Drew Marine Signal & Safety for$11.6m

Mar-07Acquires Simmel Difesa for $109.8m

Apr-07Sells McMurdo Marine LightsMay-07Sells I.C.S. Electronics

Jun-07Acquires Chemring Nobel AS for $5.5mNov-07Acquires Richarmond EEI for $23.1m

Jan-08Acquires Pirotecnia Oroquieta for $0.6m

Jan-08Acquires Titan Dynamics Systems for $4.8mMay-08Acquires Scot for $40.0m

Jun-08Acquires Martin Electronics for $70.0m

Oct-08Acquires Non-Intrusive Inspection Technology for $40.0m

Chemring’s evolution in recent years

(1)

Rev CAGR

’00-’08 23.1%

’08-’16 3.8%

EV/EBITDA

Min 7.1x

Max 13.0x

Avg. 9.5x

Jun-12Sells Chemring Marine for $49.5m

The company is making several divestitures over last few years to re-shape the company’s growth strategy and bolster balance sheet

AcquisitionsDisposals

Oct-06Acquires BDL Systems for $17.0mDec-06Sells Leafield Marine for $0.9m

Jan-06Acquires LeafieldMarine & Leafield EngineeringFeb-06Acquires Technical Ordnance for $47.5m

(2)

Nov-15Acquires Wallop Defence Systems

4

0

25

50

75

100

125

150

1/4/16 3/12/16 5/19/16 7/26/16 10/2/16 12/9/16 2/15/17 4/24/17

Chemring Peers Index FTSE 250 (19.4%)

6.1%

8.2%

13.6%

14.6%

(52.7%)

7.7%

8.3%

10.6%

14.7%

Chemring has outperformed its peers over the past year

Chemring’s indexed total return versus peers (Since 01/01/2016)

£1.95+7.7%

(32.2%)

Jan 21 2016Announced a fully

underwritten right issues of

~£80.8mPrice: £1.61

Apr 19 2016Appointed Carl Foster as

Independent Non-Executive Director &

ChairmanPrice: £1.36

Jan 21 2016Reported FYE 2015 ResultsPrice: £1.61

+14.7%

Jun 21 2016Reported HYE 2016 ResultsPrice: £1.15

Dec 13 2016Appointed Andrew Lewis as

Group Finance DirectorPrice: £1.67

Jan 19 2017Reported FYE 2016 ResultsPrice: £1.72

Jul 21 2016Awarded R&D contract on Next Generation Chemical Detection (NGCD) Program

of RecordPrice: £1.36

Feb 19 2017Announced the

opening of a new office in the

UAEPrice: £1.91

Feb 13 2017Awarded a $4.9m contract from the US Army for ten ground penetrating radar

trial systemsPrice: £1.92

Source: Company website and Capital IQ as of Apr 27, 2017Note: Total returns inclusive of dividend reinvestment

2017 YTD Total shareholder returns

Total shareholder returns (Since 01/01/16)

FTSE 250

FTSE 250

Mar 17 2017AGM trading

update –expectations unchangedPrice: £1.98

5

The Board of Directors has seen significant changes in the past year

Board of directors Executive management

Andrew Lewis – Group Finance Director Appointed Group Finance Director on 09 January

2017 Previously, Group Finance Director and Interim CEO

of Avon Rubber Prior, Director at PwC and Group Financial

Controller at Rotork Plc

Michael Flowers – Group Chief Executive Appointed to the Board as Group Chief Executive on

24 June 2014, having previously been Group Director — Munitions, with responsibility for running and subsequently disposing of the Group’s European munitions businesses

Joined Chemring in 2006, and ran the Group’s Australian operations for seven years

Previously, worked for BAE Systems in program management roles, principally in the weapons systems and electronic warfare domains

Sarah Ellard – Group Legal Director & Company Secretary Appointed as Group Legal Director on 7 October

2011, having been Group Company Secretary since 1998

Prior to joining the Group, Sarah trained and worked at Ernst & Young LLP

Carl-Peter Forster – Non-Executive Director, Chairman Appointed as a Non-Executive Director of Chemring on 1 May 2016 Succeeded Peter Hickson as Chairman on 1 July 2016 Currently a non-executive director of Rexam plc, IMI plc and

Cosworth Ltd. Also Chairman of the London Taxi Company, Board member of Volvo Cars Corporation, and Board member of Geely Automobile

From 2003 to 2006, he was a non-executive director of Rolls-Royce plc

Daniel Dayan – Non-Executive Director Appointed as a Non-Executive Director of Chemring on 7 March

2016, and is Chairman of the Remuneration Committee. He is also Chairman and CEO of LINPAC Group and is non-executive Chairman of the Nonwovens Innovation and Research Institute Ltd

From 2005-2013, Daniel was CEO of Fiberweb plc, a global, specialty industrial textiles manufacturer

Nigel Young – Non-Executive Director Appointed as a Non-Executive Director of Directoron 1 May 2013,

following his appointment as Interim CFO in July 2012 Nigel was previously Group Finance Director of Morgan Crucible

Company plc, as well as finance director of United Scientific Holdings plc, First Technology plc and Babcock International plc

Andrew Davies – Non-Executive Director Appointed as a Non-Executive Director of Chemring on 17 May

2016 Currently, Chief Executive of Wates Group Andrew was a Managing Director of BAE Systems Maritime

business, Group Strategy Director, member of Executive Committee of BAE Systems and a Managing Director of BAE System Land Systems division

6

Key growth drivers

7

Future growth will be driven by a combination of key long-term US Programs of Record and operational improvement initiatives across the Group

US Programs of Records:

Husky Mounted Detection System (“HMDS”) Ground Penetrating Radar (“GPR”)

- Locates buried roadside bombs and improvised explosive devices

- Over 230 systems fielded in Iraq and Afghanistan in response to Urgent Operational Requirement

- International customers include Canada, Australia, Spain & Turkey

- Now transitioning to a long term core capability for the US DoD

- Program valued at >$500m

- 2014 Chemring awarded sole source EMD contract to design the next generation HMDS to provide enhanced GPR capabilities

- 2016 Program realigned to incorporate spiral development, funding remains unchanged

- Feb 2017 contract received for ten trial systems. Successful evaluation expected to lead to upgrades to the entire US HMDS fleet

Joint Biological Tactical Detection System (“JBTDS”)

– A man-portable biological warfare detection and identification system to support future detection capability requirements for all US services. Replaces Joint Biological Point Detection System, also a Chemring product

– 2015 Chemring selected as sole source provider of JBTDS

– Program valued at >$300m

– EMD phase on-going with low rate initial production to follow completion of Government testing

Husky Mounted Detection System

Joint Biological Point Detection System

Key growth drivers (2)

8

Future growth will be driven by a combination of key long-term US Programs of Record and operational improvement initiatives across the Group

US Programs of Records:

Next Generation Chemical Detector (“NGCD”)

- A program for all branches of the US military with three different variants to support future chemical detection capability requirements. Builds on existing technology, including the Joint Service Lightweight Standoff Chemical Agent Detector (“JSLSCAD”), also a Chemring product

- Program valued at >$800m

- All three variants are competitive and Chemring has progressed to the prototype phase on all three

- EMD phase to follow competitive tendering process

F-35 Joint Strike Fighter (“F-35”)

- Next generation combat aircraft capable of ground attack and air defence missions

- Global fleet expected to be c.3000 platforms, first US squadron entered service August 2016

- Deliveries to the US are scheduled until 2037m with a projected service life up to 2070

- Chemring is the sole qualified supplier of specialist countermeasures for the global F-35 fleet

- Qualification of Chemring Australia as second source is on-going

- Low Rate Initial Production continues to gradually gain momentum

Operational improvement initiatives

- Improved productivity. Operational Excellence Programme launched early FY17 driving further improvements in safety, knowledge sharing, sales coordination, gross margins and cash generation

- Site optimization. Further site consolidation and plant closures expected to deliver c.$6.5m per annum saving once completed

Stryker NBC vehicle with JSLSCAD

F-35 Joint Strike Fighter

© Crown Copyright

Progress on our roadmap

9

• Plant consolidation at Alloy Surfaces completed post delivery of urgent requirements

• Closure of Torrance facility in 2018 progressing according to plan

• Minor sites closed at Charlottesville and Tallahassee

• Low rate initial production continues to gradually gain momentum, LRIP 6 ongoing, LRIP 7 in award phase. F-35 SMD requirement in pre solicitation phase

• Conclusion of second source qualification programme in Australia

• Operational Excellence Programme underway - driving further improvements in safety, knowledge sharing, sales coordination, gross margins and cash generation

We continue to make good progress against operational improvements and against future growth programmes

Productivity

Site optimisation

HMDS

JBTDS

NGCD

F-35

• Upgrade programme realigned to incorporate spiral development, funding unchanged

• Contract received for development, trials and manufacturing efforts in half. Significant further development and production contracts expected in 2018

• EMD phase ongoing

• Milestone review Q3 followed by Government testing program, LRIP to follow

• Prototype phase on all three variants. EMD phase to follow competitive tendering process

• Initial tenders expected H2

Operational Excellence Programme

10

Leveraging the synergies of the individual businesses through:• a programme of disciplined collaboration, and • the establishment of a culture of continuous

improvement

Key H1 2017 achievements:

• Group level operational improvement initiatives at four sites

• Local improvement projects launched at each site• Lean assessment tool developed and assessments

complete• Safety maturity assessment tool developed and

assessments ongoing• Group wide CRM system roll out commenced >50%

complete, target 100% by year end• UAE office opened as part of country management

strategy

Health & Safety

Operational Performance

Internal Systems & Processes

Sales Effectiveness

New Products & Services

Procurement

Continuous operational

improvement

Six operational excellence teams established to create a cohesive operational environment that delivers:• greater customer satisfaction• an empowered workforce• superior shareholder value

Disciplined capital allocation

11

Investment for growth remains the priority...

• £117.2 million PP loan notes outstanding at Apr 2017

• £52.6 million repayment due in Nov 2017, remaining £64.6m Nov 2019

• R&D c.£10.0 million per annum

• Capex (maintenance and safety related) c.£15 million per annum

• Capacity and capability enhancements at Norway and Kilgore

• Operational excellence programme will drive increased capex for systems and improvement initiatives

• Targeted bolt-on acquisitions to fill capability gaps

• Complementing existing technologies, factory footprints and routes to market

Capital allocation framework

PP loan note repayment

Investing to drive organic growth

Dividend

…as we seek to maximise shareholder returns.

• Board is committed to a sustainable dividend, seeking to grow the dividend over the long term, commensurate with other capital needs

M&A

Emerging stronger from the downturn

12

The actions taken in recent years…

...have built a stronger platform for future growth.

Bank facilities renegotiated

Balance sheet strengthened

Divestment of non-core assets

Removal of divisional operating structure

Bolt-on acquisitions

Refreshed Board of Directors

Business unit integration and site

closuresOperational Excellence Programme launched

Targeted operational and R&D investment

Progress to a culture of continuous

improvement and value creation

Summary and H2 Outlook

13

• Solid H1 performance across the Group

• Board’s expectations for FY 2017 are unchanged

• Order book solid, approximately 85% of expected H2 revenue covered

• Safety remains an imperative

• Operational Excellence Programme progressing well with positive results already being seen

• Major growth programmes continue to progress, underpinning medium term opportunities

• Improving outlook for global defence spending

Organisation Chart

14

Energetic Sub-systems

Chemring Group PLC

Operating Business Units

Chemring Countermeasures UK

Chemring Countermeasures USA

(Kilgore Flares)

ChemringCountermeasures USA

(Alloy Surfaces)

Chemring Technology Solutions (UK)

Roke (UK)

Chemring Defence (UK)

Chemring Energetic Devices (USA)

Chemring Energetics (UK)

EnergeticsSensors Countermeasures

Military Pyrotechnics

Chemring Nobel (Norway)Chemring Sensors & Electronic Systems (USA) –

NIITEK & ChemringDetection Systems

Chemring Prime Contracts (UK)

Chemring Ordnance (USA)

3d-Radar (Norway)

Chemring Australia

Countermeasures

15

Markets - 50% world market share

• Largest supplier of airborne decoy countermeasures to the US Department of Defense and the UK

Ministry of Defence

• Technology leader in spectral, special material and thrusted flares for fixed-wing and rotary-wing

aircraft

• Customers in 33 countries

Products - world leading capabilities

Air countermeasures

• Conventional and advanced flares – protection against heat-seeking and guided missiles

• Special material decoys – covert and pre-emptive infra-red decoys

• Chaff – protection against radar guided threats

Naval countermeasures

• Radio Frequency decoys – protect ships against radar-guided threats

• Infra-Red decoys – protect ships from infra-red guided threats

• Centurion naval decoy launcher – optimises the placement of naval decoys

F-22 flare suite

RF / IR Naval Countermeasures

Centurion Naval Launcher

CH-47 special material decoys

Maintain world lead in expendable decoys

• Exploit clear lead in conventional and advanced flares

• Build market leading position in naval launchers and decoys

Chemring Group is the global leader in the manufacture of countermeasures which are used to protect aircraft and ships from the threat of heat-seeking and radar-guided missiles and tracking systems.

Sensors

16

Markets – Leading positions in mission critical niches

• Over 230 US Husky-Mounted Detection System (HMDS) fielded in theatre

• Leading US supplier of stand-off chemical detection (Joint Service Lightweight Standoff Chemical

Agent Detector - JSLSCAD) and biological agent detection (Joint Biological Point Detection System -

JBPDS)

• UK technical lead in electronic warfare and signals intelligence

• Connectivity, cyber, data analytics and autonomy services for defence, national security, high value

manufacturing and infrastructure clients.

• Advanced solutions and equipment for counter-IED and Explosive Ordnance Disposal (EOD)

scenarios

Products - world leading capabilities

• Hand-portable, vehicle-mounted and networked detection systems

• Man-portable and vehicle-mounted Electronic Warfare systems and electronic surveillance

• Advisory services, technology research and development, engineering and design

• Remote initiators, recoilless de-armers and lightweight disruptors for counter-IED/EOD

HMDS

Resolve EW system

Cyber security

IED defeat solutionsExploit world leading technologies

• Maintain lead in GPR and jamming technology

• Become market leader in IED detection and neutralisation, and chemical/biological threat detection

Energetics – Energetic Sub-Systems

17

Market - sole source supply to NASA and Martin Baker

• Leading supplier of low shock satellite separation products and NASA Standard Initiators

• Largest supplier of pyromechanisms for aircraft egress systems

• Trusted supplier to key prime contractors including Lockheed-Martin, Boeing, Raytheon, MBDA and

ATK

Products - high quality, high reliability

• Missile ‘launch and fly’ - actuators, retention mechanisms, safe and arm units, motors and weapon

release cartridges

• Space and satellite launch - initiators, separation sub-systems, thrusters, actuators, CADs/PADs

• Ejection seat components and canopy cutting charges to Martin Baker

• High explosives and rocket motor compositions including HMX, RDX, NTO, NENA products and

insensitive munitions

• Rocket motor design and manufacture

Maintain leading niche positions

• Exploit trans-Atlantic footprint to promote US space qualified products

• Ensure position on next generation platforms for missile and space programmes

• Explore non-defence opportunities

Atlas rocket & boosters

Aircrew egress

Satellite separation nuts

Energetics – Military Pyrotechnics

18

Markets - NATO/Non-NATO balance

• Major supplier to US and UK

• Strong routes to market in the Middle East

Products - specialist rounds and products for niche applications

Ammunition

• 40mm grenades and mortar ammunition for infantry forces

Demolition and breaching systems

• Anti Personnel Obstacle Breaching Systems

• Sabrex shaped cutting charges

• Bangalore Torpedo breaching system

Pyrotechnic

• Smokes, signals and illumination rounds

• Advanced spectral pyrotechnic illumination and screening products

• Training rounds, launchers and simulators

• Security products - CS grenades, cartridges and stun grenades

Roll-out operational excellence

• Promote newly developed products

• Improve asset utilisation by winning major US build-to-print programmes

Global Footprint

19

11 facilities located across 4 countries

United States of America

• Chemring Countermeasures USA,

Pennsylvannia & Tennessee

• Chemring Energetic Devices, Illinois &

California

• Chemring Ordnance, Florida

• Chemring Sensors and Electronic Systems,

Virginia & N.Carolina

Europe

• Chemring Countermeasures, UK

• Chemring Technology Solutions, UK

• Roke, UK

• Chemring Defence, UK

• Chemring Energetics, UK & Norway

• 3d-Radar, Norway

Australia

• Chemring Australia

UAE office

Global Customer Base

20

16%

25%

59%

48% North America

35%

11%

54%

1% ROW

48%

2%

50%

6% Europe (ex UK)

82%

5%13%

8% Asia Pacific

64%

24%

12%

21% Middle East

FY16 revenue split 69:31 between NATO and Non-NATO customers

• US DoD is Chemring’s single largest customer

• Chemring has extensive relationships with prime contractors

• Lockheed Martin• BAE Systems• Boeing• General Dynamics• Raytheon• ATK

32%

14%

54%

17% UK

Energetics51%

Sensors20%

Countermeasures29%

FY16 £477.1 million Global revenues by segment

Our market strategy

Position for growth through innovation, manufacturing excellence and international expansion

Countermeasures

Sensors

Energetics

• Strengthen position on key programs: Typhoon and F-35• Improve position in Naval countermeasures market• Continue focused R&D effort• Investment in operational processes

• Focus on areas of technological strength in counter-IED, Electronic Warfare, and chemical and biological detection

• Increase technology leadership through customer funded and internally funded R&D • Win key NATO programmes to exploit globally• Growth in connectivity, cyber, automation and data analytics

• Maintain current business base and product range whilst seeking new markets• Broaden into adjacent commercial markets• Growth focus on higher technology niche aerospace, space and missile system

applications

21

22

– Roke

Deliver profit and cash

Embed operational excellence

Invest for growth

Complete restructuring and site rationalisations

Secure F-35 flareBroaden naval countermeasure

business

Rationalise sites and manufacturing operationsTargeted R&D investment to secure Growth

Programmes

Recruit to meet current demandEnhance internal development capability for cyber and

security professionalsEstablish satellite offices

Targeted facilities investment

Operational excellence programme

Exploit synergies in internal supply and routes to market

Operational excellence programme

Complete restructuring and site rationalisation

Deliver current order book

Countermeasures

Sensors – Products

EnergeticsDeliver cash to fund growth

Focus segment on higher margin niche products

Our segmental strategies

23

Our Capabilities

Countermeasures - Capabilities

24

Air Countermeasures

Advanced Countermeasures

Special Material Decoys

Naval Decoys

Naval Launcher

Countermeasures - Capabilities

25

Air Countermeasures

Chemring’s comprehensive

product range is based on

proven threat driven solutions

to protect all types of air

platforms – fast-jets, transport

aircraft and helicopters.

Our products support the

challenges of modern air

missions and offer mission

specific capabilities including

day and night visual

covertness and tailored

spectral characteristics.F-15

C-17

SH-60

Seahawk

Chemring supplies

conventional and

advanced flares for

most NATO

platforms

F-22

F-35

F-18

Typhoon

CH-47

Chinook

AC-130

Tornado

Countermeasures - Capabilities

26

Advanced Countermeasures

Chemring’s advanced

countermeasures are designed to

defeat the latest-generation guided

missiles, which can discriminate

between traditional flares and target

aircraft, by emulating flight

characteristics and infra-red spectral

emissions.

Our advanced countermeasures

protect both legacy and next

generation platforms, including F35

and Typhoon.

Spectral flare

Royal Navy Lynx

helicopter deploys

“cocktail” of spectral

and MTV flares

Typhoon

Chemring is

the sole

supplier for

Typhoon

flares

Thrusted flare

K7 thrusted 2” x 1” flare

protects F-16 and defeats

seeker by maintaining

similar flight profile to

target aircraft

Chemring is the sole

supplier for F-22 and

F-35 flares

0

200

400

600

800

1,000

1,200

1,400

1,600

200

8

200

9

201

0

201

1

201

2

201

3

201

4

201

5

201

6

201

7

201

8

201

9

202

0

202

1

202

2

202

3

202

4

Growth drivers Case study: Next generation aircraft drive market growth

27

- Build-up of operational stockpiles of 3,000 flares per aircraft, but only for 50% of the actual fleet

- Training and test consumption of 150 flares per in-service aircraft per year (10% of war stock)

- New flares more expensive than the flares they replace

- Decoy user base expands as retiring platforms are sold on to new NATO and growing economies

Chemring sole supplier of decoys:

- 55mm flare and spectral variant unique to

Typhoon

- Additional opportunity for BOL chaff & IR

- Potential export opportunities remain in

Bahrain, UAE, Kuwait, Denmark, Malaysia,

and Qatar

- Global fleet of c.800 platforms

Global aircraft fleet

Air

cra

ftd

eli

ve

red

Chemring sole supplier of F-35 unique flares:

- Ultimate global fleet of c.3,000 platforms

F-35

Typhoon

Source: SIPRI, Global Military Balance, IHS Jane’s

F-35 Fleet

Typhoon

Fleet

Countermeasures - Capabilities

28

Special Material Decoys

Chemring’s Special Material Decoys

rapidly oxidise in air to generate an

Infra-Red signature to protect against

advanced heat-seeking air-to-air and

surface-to-air missile threats.

Used on multiple platforms including

fast-jets, helicopters and transport

aircraft.

Material is dispensed from

conventional cartridges, or a BOL

dispenser to provide a pre-emptive

solution to prevent missile lock-on

before launch.

Chinook CH-47

dispensing flares and

Special Material

DecoysBOL- Infra-red

cassette

Infra-red image of

BOL – IR pre-

emptive decoyM211 1”x1”

decoy cartridge

Countermeasures - Capabilities

29

Naval Decoys

Chemring is the world leader in the

provision of naval anti-ship missile

countermeasures or ‘soft kill’

expendables for protecting

warships.

It is the prime supplier of passive

radio frequency / infra-red decoys

to the Royal Navy, many NATO

and other navies throughout the

world. Infra-red chaff fired from launchers on board Type 23 Frigate HMS Iron Duke

Type 45 Destroyer HMS Dauntless fitted with Chemring’s Naval decoys

130mm round firing

Countermeasures - Capabilities

30

Naval launcher

Chemring’s CENTURION launcher

is a twelve barrelled fully trainable

launcher that optimises decoy

placement, minimising the need for

ship manoeuvre, delivering rapid,

accurate and enhanced protection,

increasing survivability and

sustainment of naval platforms.

Centurion provides a major

improvement in ship borne EW

defensive capabilities and can also

address surface threats, torpedo

threats, and has the potential for

longer range offensive capability.

CENTURION delivers accurate

payload placement to maximise

decoy effectiveness

CENTURION can be configured with a

range of 130mm rounds, as well as

being adaptable to other calibres, to

suit mission profiles.

CENTURION can be

easily retro-fitted to a

broad number of platforms

as well as operating

autonomously on a range

of vessels.

Fixed

Launcher

CENTURION

Trainable

Launcher

Sensors - Capabilities

31

Force Protection

Chem Bio Detection

Innovation

Cyber security, autonomy and

connectivity

Electronic Warfare

Sensors - Capabilities

32

Force Protection

HMDS vehicle-

mounted IED

detection

From technology to

capability

Roke’s R&D and

innovation generating

solutions to complex

sensing problems

R-VISOR

autonomous mine

detection

SHARD –

handheld

reconfigurable

IED detection

Disruptors safely

neutralise IEDs,

protecting assets and

forensic evidence

3D Radar

GPR antenna arrays

33

Growth drivers Case Study: HMDS counter-IED systems

development and market penetration

HMDS

• HMDS originally funded as urgent operational requirement in Iraq and Afghanistan for US

DoD

• Significant additional sales to ‘coalition’ forces – Canada, Australia, Spain, Italy, Turkey

• The system is transitioning to baseline capability through customer funded R&D. Solution

includes Roke developed detection technologies.

• Significant international demand remains

3d-Radar

• 3d-Radar acquired to provide complementary non-ITAR solutions

• Opportunities in Middle East are progressing positively

• 3d-Radar solutions marketed in adjacent markets. Applications include infrastructure, tunnel

detection and industrial survey

Hand-held and Robot

• HMDS technologies utilised in Groundshark hand-held detector

• Initial orders received, substantial opportunities in pipeline

• Small remotely operated vehicle-based system also developed

The HMDS is a combat

proven, high-performance

ground penetrating radar

(GPR) system providing rapid

detection of landmines and

other explosive devices

(IEDs)

Groundshark employs HMDS

technologies to provide latest

generation hand-held solution

for land mine and IED

detection

Originally a single solution for a single customer, GPR capability has now transitioned to a

family of solutions

Sensors - Capabilities

34

Chem Bio Detection

Chemring is a leading provider and

systems integrator or advanced

point and stand-off chemical threat

detection systems and biological

agent detectors.

As of January 2017 Chemring is

the only manufacturer to be

participating in all three initial R&D

contracts for the Next Generation

Chemical Detector Program of

Record.

Funded development of

Chemring’s sole source position on

the Joint Biological Tactical

Detection System is ongoing. In

2017, the programme is expected

to move from the engineering and

development phase into low rate

initial production.

JBPDS Automatic detection and

identification of airborne

biological agents

JUNO

Hand-held

chemical

detector

I-Collector

Low cost

biological

detection and

collection

PGR-1064

Explosives, narcotics,

chemical warfare agents,

and toxic chemical

detection

The ISCAD – passive

infra-red Chemical

detection system is

fitted in the Stryker

NBCRV

Sensors - Capabilities

35

Electronic Warfare

Chemring’s EW technology

detects, intercepts, locates and

disrupts enemy

communications on a tactical

and strategic level.

Chemring also provides

solutions to protect friendly

forces communication

networks.

Strategic signals

intelligence geolocation

and intercept

SAMPSON

Advanced processing

algorithms for the radar

fitted to Type 45

Destroyer HMS Daring

Locate-T

A mobile version of

LOCATE to extend

range and improve

accuracy

Tactical Electronic Warfare

system for radio Direction

Finding and interception

Sensors - Capabilities

36

Cyber Security

Chemring provides full lifecycle

cyber security, starting with

awareness and education at

both board and at a deep-

technical level.

We can fully assess a system,

be it a product or an entire

organisation, looking at cyber

risk and applying appropriate

mitigation to protect them

according to their unique threat

profile.

Chemring can provide ongoing

monitoring, managing and

keeping pace with the ever-

changing threat landscape.

Passive content

inspection network

probe

Crypto network

design and device

management tool

Bio-inspired cyber security

solution for enterprise networks

SmartToken

Making commercial devices

suitable for government use

A turnkey suite of

modular products

for lawful intercept

Sensors - Capabilities

37

Innovation

Chemring is one of the UK’s

leading suppliers of innovative

solutions, product

development and contract

R&D.

With more than 400 patents,

Chemring continually invests

in technology, people and

research to rapidly solve

complex problems and

provide state-of-the-art

products that meet the needs

of customers worldwide.

Video Moving Target Indication

and analytics

Portable 3G

network

Altimeters for

UAVs and

target drones

Churchward

Radio transmitter

detection and direction

finding.

Autoland

Enables a rotatory wing

UAV to land on a

moving platform.

Energetics - Capabilities

38

Aircrew

egress /

safety

Missile

ComponentsSpace

Energetics - Capabilities

39

Aircrew Egress / Safety

Scot Communication

and Oxygen System

Tester (SCOT)

Joint Combined

Aircrew

Systems Tester

(JCAST)

Canopy cutting cords to

assist in canopy break-up

and removal

Chemring designs and manufactures

a range of safety systems used in

emergency situations including crew

egress.

These products are supported by

our safety testing equipment,

including communications and

oxygen supply testing.

Exclusive supplier to Martin

Baker, the world’s leading

manufacturer of ejection seats

Emergency

Egress Handles

Energetics - Capabilities

40

Space

Chemring is a leading space

component supplier, with a 55 year

heritage proven through space

programmes.

Chemring actuators, thrusters and

retractors are used on a number of

significant NASA and ESA

programmes including the Atlas,

Delta and Titan family of launch

vehicles, space exploration

vehicles and satellites.

Large thrusters are used

for booster rocket

separation, including the

Atlas launcher.

Over 200 high-reliability

Chemring products

contributed to the

successful landing of

NASA’s Curiosity rover

on Mars.

In collaboration with the

Gioconda consortium, Chemring

is supporting the UK MOD’s

miniaturised satellite research

project currently being

developed for space research.

Energetics - Capabilities

41

Missile Components

Chemring supplies a wide range of

high quality, high reliability, zero

maintenance components

supporting a number of missile,

bomb and torpedo programmes

across an international military

customer base.

Chemring also supplies rocket

motors, with a strong track record

in fuze and warhead design,

manufacture and integration.

US Tomahawk

long range

cruise missile

uses a number

of Chemring

products within

its launch

sequence

NLAW

disposable

anti-tank

weapon

Weapon Release Cartridges

2.75” Rocket

PAC-3 Surface

to Air missile

Energetics - Capabilities

42

Demolition

stores

Signalling,

screening &

illumination

40mm

grenades

Law

enforcement

and crowd

control

Mine &

obstacle

breaching

systems

Energetics - Capabilities

43

Signalling, screening

& illumination

Chemring has an extensive

portfolio of products that covers

illumination, signalling, search and

rescue, screening, training, law

enforcement and high energy

products.

Our screening and obscuring

products can be used for rapid and

highly effective concealment of

troops and equipment in the visual,

infra-red and laser wavelengths

during operations and training.

Illumination mortars

Screening smokes

Vehicle launched

grenades for

screening

Military Pyrotechnics - Capabilities

44

Law enforcement

Chemring manufactures a range

of non-lethal security products for

military and law enforcement

applications.

Products include:

- CS smoke pellets

- Baton rounds

- Rubber bursting CS grenades

- Vehicle launched grenades

- Stun grenades

Illumination mortars

CS and Stun

grenades40mm baton round

Military Pyrotechnics - Capabilities

45

40mm grenades

Chemring manufactures low and

high velocity High Explosive and

High Explosive Dual Purpose

ammunition.

Chemring also produces a new

range of 40mm extended range

low velocity ammunition for

under-slung infantry rifle grenade

launchers.

Illumination mortars

Special Forces troops

using under-slung rifle

40mm grenade launcher Soldier carrying a bandolier

of 40mm High Explosive

grenades

Military Pyrotechnics - Capabilities

46

Mine & obstacle breaching systems

Chemring is the leading

manufacturer of man-portable

obstacle breaching systems for

quickly clearing safe

passageways through anti-

personnel minefields, IED threat

areas, multi-strand wire and

other obstacles.

Reusable, inert training versions

are also available.

APOBS is a self-contained, one-

shot, expendable linear

demolition charge which can be

transported and deployed by a

two person team

Advanced Performance

Bangalore Torpedo (AP

Bangalore) gives significant

improvement in performance

and is easier to carry and

use.

…and detonating.APOBS firing

Military Pyrotechnics - Capabilities

47

Demolition stores

Chemring has developed a

complete capability in demolition

stores to meet the needs of

military users for Explosive

Ordnance Disposal, field

engineering and demolition.

We provide a full range of

explosive products from initiation

systems to main charges, both

bulk explosive and cutting

charges.

C4 Mouldable Plastic Explosive

Sheet Explosive

Sabrex flexible

Linear cutting

charge

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Our Businesses

Organisation Chart

49

Energetic Sub-systems

Chemring Group PLC

Operating Business Units

Chemring

Countermeasures UK

Chemring

Countermeasures USA

(Kilgore Flares)

Chemring

Countermeasures USA

(Alloy Surfaces)

Chemring Technology

Solutions (UK)

Roke (UK)

Chemring

Defence (UK)

Chemring

Energetic Devices (USA)

Chemring

Energetics (UK)

EnergeticsSensors Countermeasures

Military Pyrotechnics

Chemring Nobel (Norway)Chemring Sensors &

Electronic Systems (USA)

– NIITEK & Chemring

Detection Systems

Chemring

Prime Contracts (UK)

Chemring

Ordnance (USA)

3d-Radar (Norway)

Chemring Australia

Countermeasures

50

Chemring Countermeasures has world-leading decoy technology for air and naval

platforms

– Main UK supplier of decoy flares and chaff to protect military aircraft from electro optic,

infra-red and radio frequency guided missiles and has developed a range of tailored

spectral, thrusted and multi-shot flare and chaff products

– £30 million investment in fully automated production facility, able to provide a significant

increase in capacity to meet the high surge requirements during times of conflict

– Strong position in naval countermeasures

– Centurion naval launcher developed for perceived UK and world market need for trainable

launcher

– Licensed explosive site complying with all HSE requirements in accordance with UK

Legislation - The Explosive Regulations 2014

– Constant research and development requirement to maintain technology lead supported by

a dedicated R&D team and comprehensive environmental test facilities. The majority of

programs are funded by UK MoD combined with some PV programs to support export

customer requirements

– Customers are National Ministries of Defence including the UK, Germany, Italy, Norway,

Netherlands, Singapore and Saudi Arabia

Naval decoy deployment

Chemring CountermeasuresLocation: Salisbury, Wiltshire, UK

Number of employees: 425

Typhoon flare

Centurion launcher

Countermeasures

51

Chemring AustraliaLocation: Lara, Victoria, Australia

Number of employees: 81

Chemring Australia manufactures flares and pyrotechnics, and distributes other

Group products for the Australian market

– $36 million investment in a state of the art automated countermeasures facility to

manufacture KC-38 and CM-118 flares.

– Ten-year supply agreement underpinning on-shore manufacturing capability

– Recently awarded a contract to become a qualified supplier of MJU-66/B flares for the

F35 Joint Strike Fighter for US and global market

– Manufactures a small range of military pyrotechnics and marine pyrotechnics

– Provides route to Australian market for other Group products

– Establishing electronic systems development and support capability

– Principal customer is Australia’s Department of Defence

F-18

P-3 Orion

ASCEND military smoke grenade

Marine hand-smoke

Countermeasures

52

Alloy SurfacesLocation: Chester Township, Pennsylvania, USA

Number of employees: 150

HMDS

Infra-red view of BOL-IR

M211 Helicopter decoy

IR illumination device

SMD cloud in mixed

decoy “cocktail”

- Alloy Surfaces manufactures Special Material Decoys (SMDs)

- SMDs eject a cloud of patented pyrophoric metal “leaves” which heat up on

contact with air to create an infra-red (IR) area decoy

- SMD’s and new variants have spectral, kinematic and area decoy characteristics

likely to future-proof the technology against most foreseen IR threats

- BOL-IR deploys cassettes of Special Materials as a pre-emptive IR decoy

preventing guided missiles from locking-on to the aircraft before they are

launched

- Alloy Surfaces also offers SMD material as a covert hand thrown infra-red

signalling device for soldiers on the ground

- Customers are US Navy, Marine Corps Army and Air Force, with significant

exports to UK and Australia

Countermeasures

53

Kilgore FlaresLocation: Toone, Tennessee, USA

Number of employees: 311

F-35

Marine location

marker deployment

F-22

Kilgore Flares is a high volume manufacturer of traditional magnesium flares,

with a sole source position on US next generation fighters

– Products dominated by traditional high volume MTV flares, with growth from

advanced flares for new platforms (F-22 and F-35)

– Manufactures the standard US flares:

- M206 - a 1”x1” square flare for helicopters and the C-130

- MJU-7 – a 2” x 1 “ rectangular flare for the F-16

- MJU-10 – a 2.52 x 1” rectangular flare for the F-15

– New products include M212 spectral flare for helicopters

– Kilgore also manufactures air dropped marine location markers and flares

– Customers are US Navy, Marine Corps Army and Air Force, with significant

exports to UK and Australia

54

Chemring Sensors & Electronic Systems

(CSES) – IED DetectionLocation: Sterling, Virginia, USA and Trondheim, Norway

Number of employees: 60

Sensors

Handheld GPR/MD

CSES (Dulles & Norway) designs and develops the Husky Mounted Detection

System (HMDS) GPR payload, and now includes 3d-Radar’s civil and military

products

- World lead in vehicle-based mine and IED detection based on Ground

Penetrating Radar sensor and advanced algorithm technology

- Current GPR and Handheld customers dominated by the US Army, but exports

now include Canada, Australia, Spain, Poland, Turkey, Saudi Arabia, Jordan,

Egypt and Italy

- HMDS Achieved US Army Program of Record classification in 2017. Solidly

positioned for future sustainment, plus phased technology insertion plans for

next generation Ground Penetrating Radar (GPR), Wire Detection (WD) and

other Counter IED sensors

- 3d-Radar acquired in 2014 to add commercial and foreign military GPR

- 3d-Radar customer base includes UK MoD, US Government FMS as well as

commercial construction, geology, archaeology and rail inspection operations

HMDS

HMDS with 3D-Radar

3d-Radar Commercial

GPR Large Vehicle-Mounted

55

Chemring Sensors & Electronic Systems

(CSES) – Chem/Bio Detection

Location: Charlotte, North Carolina, USA

Number of employees: 72

Sensors

CSES (Charlotte) designs and manufactures hand-held and platform

integrated Chemical and Biological detection systems

– Acquired in 2011 to add chemical/biological detection to complete the Force

Protection detection portfolio

– Provides the two main sensors for the US Stryker NBC Reconnaissance

Vehicle: JBPDS (point biological) and JSLSCAD (standoff chemical)

– Hand-held products developed for military, security and non-military

applications: JUNO® (chemical vapors) and PGR-1064 (chemical liquids/solids)

– Prime contractor on the JBTDS (tactical biological) program – currently in

development and qualification testing

– Active on three variants of NGCD (Next Generation Chemical Detector)

program, having completed TMRR (Technology Maturation and Risk Reduction)

phases in 2017; Competing for EMD/Production contracts in 2018

– Main customer is US JPEO-CBD

JUNO®

JBPDS

PGR-1064

NGCD1

JBTDS

JSLSCAD

Roke

Location: Hampshire and Gloucestershire, UK

Number of employees: 390

Sensors

A leading UK advanced technology, engineering and advisory services

business.

• We aim to ENABLE our clients to deliver competitive advantage, DEFEAT their

adversaries and to DEFEND their people, assets and secrets.

• We provide advisory services, research, engineering and design in cyber, data

analytics, connectivity and automation.

• We work at the heart of our clients’ missions, enabling them to harness the latest

technology through the sharing of knowledge, ideas and generation of thought

leadership.

• We have a mixture of scientists, engineers and consultants to develop

engineering solutions to some of the world’s most difficult technology problems.

• High margin business with scope to expand into commercial applications,

including cyber operations and space.

Customers; UK Government, defence industry, manufacturing and infrastructure

Autoland

Sensors for soldiers

Cyber security

Maritime autonomy

57

Chemring Technology Solutions

Location: Romsey and Poole, UK

Number of employees: 78

Sensors

Chemring Technology Solutions is the Group’s centre of excellence in land electronic

warfare, with a complementary portfolio in IED detection and neutralisation systems,

including vehicle-mounted and hand-held sensors, disruptors and initiation systems.

– Core portfolios are Resolve (man-portable EW), Locate (strategic Signals Intelligence),

Initiation Devices and IED Detectors and Disruptors

– New opportunities include: Smartlink deployable 3-G mobile base station; Smartswitch

mobile phone policy-on-the-device; Perception cyber-security protection; subsystems for

UAVs and non-defence Protection opportunities

– Trusted by armed forces, governments and commercial customers worldwide their

understanding of operational requirements allows them to deliver products able to meet

today’s asymmetric threat environments. Their products are relied upon by the best

equipped armed forces in the world, including the UK MOD and NATO allies.

– Customers are in 47 countries and include military and commercial organisations and

primes including Ultra, Lockheed Martin and Cobham

Resolve portable EW

Locate SIGINT

Smartlink deployable

base-station

LoRIS remote initiation

58

Chemring Energetic Devices

(Downers Grove)

Location: Downers Grove, Illinois, USA

Number of employees: 199

Energetics

Atlas rocket & boosters

JCAST

JASSM Lug

Retraction

Device

Aircraft ACES II Egress

components

Chemring Energetic Devices (Downers Grove) manufactures missile &

ammunition components and space thrusters and test equipment

– Scot acquired in 2008 to bring US footprint for ejection seat and missile

components complementing CEUK and adding new space market

– Manufactures pyrotechnic components for missiles, space launcher and aircrew

egress – also test equipment for aircrew life-support systems

– Customers are USAF, USN, Boeing, and FMS countries for aircraft DCA/PAD

egress safety; Raytheon and Lockheed Martin (Lug Retraction) for missile

components; NASA, Northrop Grumman and ULA for space thrusters, explosive

bolts and pyro-valves

59

Chemring Energetic Devices

(Torrance)

Location: Torrance, California, USA

Number of employees: 213 (total including Downers Grove)

Energetics

PAC-3 Missile

Explosive Bolts

Satellite separation nuts

Safe/arm device

Chemring Energetic Devices (Torrance) manufactures space initiators and

separation components and Safe / Arm system for the PAC-3 missile

– Hi-Shear acquired in 2009 to build clear lead in US space market with Scot, as

well as adding advanced missile safe / arm technology

– PAC-3 Electronic Safe/Arm Fuze is the largest single product line

– High margin business with scope to use Chemring European presence to expand

sales into lucrative European satellite market

– Sole-source for NASA Standard Initiator, and lead supplier of low shock satellite

separation devices

– Customers are Lockheed Martin (PAC-3 and space) Boeing, Harris and ULA

60

Chemring Energetics UK

Location: Ardeer, Ayshire, UK

Number of employees: 295

Energetics

CEUK manufactures propellants, rocket motors, explosives and

pyromechanisms for aircraft, missile and demolitions

- Nobel acquired in 2005, Leafield in 2006

- Strong position in aircrew egress through supply of propellants, cartridges and

rocket motors to Martin-Baker

- Supply of missile components and sub-systems including rocket motors for the

UK’s Next Generation Light Anti-tank Weapon (NLAW) and 2.75” rockets

- UK MoD partnering agreement for high explosives and modern demolition stores

– Detonators, Bangalore Torpedo, Sabrex, and in future sheet and block

explosives

- Metron actuators are a growing non-defence business

- Customers are UK MoD, Martin-Baker, Saab, Thales and BAES

Ejection

Seat

NLAW Shoulder-launched

missile

Sabrex cutting

charges

Metron range of

actuators

61

Chemring Nobel

Location: Saétre, Norway

Number of employees: 116

Energetics

Chemring Nobel synthesises powdered base explosives for high performance

military and civil applications

– Acquired in 2007 to provide internal supply of HMX and RDX-based compositions

– Leader in high performance compositions for pressable, cast cure and melt pour

explosive manufacture

– Supplies high-quality materials with controlled powder morphology to optimise

performance with insensitivity

– Customers in the defence market are Nexter, ATK, Aerojet, Nammo, Diehl and

Rheinmetall Italy; in the commercial market Schlumberger and Dyno Nobel

High Explosive

Compositions

62

Chemring Defence UK

Location: Draycott, Derbyshire, UK

Number of employees: 141

Energetics – Military Pyrotechnics

Chemring manufactures pyrotechnic products, payloads and mine-breaching

systems for military and security users

– Mature market with very little product innovation

– Military products are flares, smokes, trip-flares, signalling cartridges and training

products

– Security products include CS grenades and cartridges and stun grenades

– Day/night distress signal for both military and non-military users

– Customers are UK MOD, Europe and Middle Eastern users

Conventional &

Compact Smoke

Vehicle Launched

Grenades

Day/night distress

smoke & flare

CS products

63

Chemring Ordnance

Location: Perry, Florida, USA

Number of employees: 300

Energetics – Military Pyrotechnics

Chemring Ordnance manufactures pyrotechnic training grenade fuzes, 40mm

ammunition and a mine-breaching system (APOBS)

– MEI acquired in 2008 to add US footprint to complement Chemring Defence in

signals, illumination & training, and to bring a range of 40mm grenade

ammunition and pyrotechnics: also includes Titan Dynamics’ training products,

and Mecar Inc.’s trading business

– Main current product is APOBS

– 40mm products and M228 practice grenade fuze will recover in future

– Significant business procuring non-NATO ammunition for US government

– Main customer is the US DoD

APOBS mine-field

breaching system

40mm grenade

40mm product range

Glossary

64

APOBS Anti-Personnel Obstacle Breaching System

CED Chemring Energetic Devices

CHG Chemring Group

EMD Engineering and Manufacturing Development

F-35 F-35 Joint Strike Fighter

FMS Foreign Military Sales

HMDS Husky Mounted Detection System

IDIQ Indefinite Delivery Indefinite Quantity

IED Improvised Explosive Device

JBTDS Joint Biological Tactical Detection System

LRIP Low Rate Initial ProductionMTV Magnesium Teflon Viton

NASA National Aeronautics Space Administration

NGCD Next Generation Chemical Detector

NSA Non Standard Ammunition

RN Royal Navy

SMD Special Material Decoy

SSA Special Security Agreement

US DoD United States Department of Defense

USG United States Government

3d-R 3d Radar

Disclaimer

2017 Chemring Group PLC

The information in this document is the property of Chemring Group PLC and may not be copied or communicated to a third party or used for any purpose other than that for which it is supplied without the express written consent of Chemring Group PLC.

This information is given in good faith based upon the latest information available to ChemringGroup PLC, no warranty or representation is given concerning such information (express or implied), nor is any responsibility or liability of any kind accepted, by Chemring Group PLC with respect to the completeness or accuracy of the content of or omissions from this presentation, and the contents of which must not be taken as establishing any contractual or other commitment binding upon Chemring Group PLC or any of its subsidiary or associated companies.

Chemring Group PLC is under no obligation to revise, update, modify or amend the information in this document or to otherwise notify a third party recipient if any information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate regardless of whether those statements are affected as a result of new information, future events or otherwise.

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