We're aligned with AirbusÂ' schedule, and we're delivering to that. So we are on track to hit our deliveries for the year. We do have some behind schedule as normal based on supply shortages and things like that. But we are on track to hit their delivery schedule for the year. And the factory is in recovery mode, but is executing to the recovery plan and is on track for the full number of deliveries for this year. It's about 60. Our next question is from George Shapiro with Shapiro Research. Your line is no ...

▪ Begun implementation of repairs to available units located at Spirit ▪ Based on preliminary financial assessment, disruptions and rework within Spirit's factory is expected to have a negative impact of $31 million to full-year gross profit, of which $17 million is reflected in Q1 financial results ▪ Additional costs are expected but cannot be reasonably estimated at this time ▪ Implementing additional protocols to reinforce our quality systems to prevent similar occurrences in the future SPIRIT AEROSYSTEM ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33160 Spirit AeroSystems Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 20-2436320 ( ...

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) Q4 2022 Earnings Conference Call February 7, 2023 11:00 AM ET Company Participants Aaron Hunt - Director, IR Tom Gentile - President and CEO Duane Hawkins - EVP and President, Defense & Space Division Mark Suchinski - SVP and CFO Conference Call Participants David Strauss - Barclays Cai von Rumohr - Cowen Sheila Kahyaoglu - Jefferies Ken Herbert - RBC Seth Seifman - JPMorgan George Shapiro - Shapiro Research Kristine Liwag - Morgan Stanley Michael Ciarmoli - Trui ...

Tom Gentile President and Chief Executive Officer 2021 ▪ Received $300 of tax refund in 2021 ▪ Repaid the 2019 Boeing 737 Advance of $123 in 2022 2022 significant cash items: ▪ Paid $123 for 737 advance repayment ▪ Received $27 of pension-related cash benefits, net of excise tax 6 | --- | --- | --- | --- | --- | --- | --- | |-------------------|-------|---------------|-------|-------|-------|----------------------------------------------------------------------------------| | | | Revenue \n11% | | | | | | | ...

Third Quarter 2022 Earnings Review Tom Gentile President and Chief Executive Officer Mark Suchinski Senior Vice President and Chief Financial Officer November 3, 2022 spiritaero.com Revenue $ millions | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------------------------------------------------------------------------| | | | | | | | | 30% | | ▪ | Increased aftermarket activity | | | | | ▪ | Overall deliveries increased to 316 | | | | | | shipsets compared to 248 in Q3 2021 ▪ 69 737 ships ...

Financial Data and Key Metrics Changes - Revenue for Q3 2022 was $1.3 billion, up 30% year-over-year, primarily due to higher production on the 737 program and increased Aftermarket revenue [25][24] - Gross margins were the highest reported since the pandemic began, with operating margins slightly positive compared to negative 16% in Q3 2021 [28][24] - Adjusted EPS was negative $0.15, an improvement from negative $1.13 in the same period last year [27] Business Line Data and Key Metrics Changes - Commercial segment revenues increased 32% compared to 2021, with operating margin rising to positive 4% from negative 9% [40][41] - Defense & Space segment revenue grew by 17% with operating margins at just under 12%, driven by increased production and classified program activity [42][43] - Aftermarket segment revenues were up 38% compared to Q3 2021, with operating margins increasing to 24% [45][46] Market Data and Key Metrics Changes - Deliveries of narrowbody programs in Q3 2022 were 40% higher compared to 2021, totaling 226 units, while overall deliveries increased to 316 units from 248 in the same period last year [26] - The company continues to face challenges in the supply chain, labor shortages, and inflation, impacting production schedules and cash flow [22][24] Company Strategy and Development Direction - The company is focusing on cost optimization efforts to ensure profitability and cash flow positivity at a production rate of 31 aircraft per month [16][54] - Plans to diversify into Defense & Space and Aftermarket segments are gaining traction, with targets of $1 billion in Defense & Space revenue and $500 million in Aftermarket revenue by 2025 [19][20] - The company is exploring refinancing options to provide additional financial cushion amid an uncertain economic environment [55] Management's Comments on Operating Environment and Future Outlook - Management noted that global air traffic demand is recovering but remains complicated by pandemic impacts and supply chain fragility [8][9] - The expectation is that challenges such as schedule changes, part shortages, and inflation will continue into 2023 [53][22] - The company aims to achieve a target of 300 deliveries for the 737 in 2022, with a focus on starting 2023 in a stronger position [15][16] Other Important Information - The company ended Q3 2022 with $671 million in cash and $3.8 billion in debt, indicating a need for careful financial management moving forward [37] - The termination of the U.S. Pension Plan Value A is expected to result in a cash reversion of $120 million to $150 million in 2023 [32][38] Q&A Session Summary Question: What are the expectations for Q4 free cash flow? - Management indicated that Q4 cash flow will depend heavily on deliveries, particularly of the 737 MAX, with a target of 100 deliveries [61][62] Question: Will free cash flow be positive next year without the pension cash reversion? - Management confirmed that they expect to be free cash flow positive even without the pension cash reversion [65][66] Question: What caused the recent changes in production rate assumptions? - Management explained that changes were due to greater clarity from Boeing regarding their outlook and adjustments made by Airbus [75][78] Question: What challenges exist in achieving the target of 100 737 deliveries in Q4? - Management acknowledged that while the target is aggressive, improvements in staffing and stabilization of part shortages provide confidence in meeting the goal [88][90] Question: How will cost reduction efforts be balanced with potential future production increases? - Management emphasized the need to align costs with production levels and ensure that cost-cutting measures do not hinder the ability to meet customer demands [98][100]

Financial Performance - Revenue increased due to higher production deliveries on 737, increased aftermarket activity, and overall deliveries increased to 318 shipsets compared to 235 in Q2 2021[4] - Commercial segment revenue increased by 28%[14] - Aftermarket segment revenue increased significantly by 42%[21] - Defense & Space segment revenue increased by 3%[17] - The company reported a GAAP diluted loss per share of ($1.17) for the three months ended June 30, 2022[29] - Adjusted diluted loss per share was ($1.21) for the three months ended June 30, 2022[29] - Free cash flow was ($79) million for the three months ended June 30, 2022[31] Operational Highlights - Overall deliveries increased to 318 shipsets in Q2 2022 compared to 235 in Q2 2021[4] - 71 737 shipsets were delivered in Q2 2022 compared to 35 in Q2 2021[4] - 147 A320 shipsets were delivered in Q2 2022 compared to 96 in Q2 2021[4] Strategic Initiatives - Settled repayable investment agreement with the U.K Department of Business, Energy and Industrial Strategy[2] - Selected by Boeing to support the B-52 Commercial Engine Replacement Program[2] - Awarded Shooting Star Cargo Module by Sierra Space[2] - Joined Airbus as a strategic partner to support the British-produced H175M for the U.K's New Medium Helicopter requirement[2]

Financial Data and Key Metrics Changes - Revenue for Q2 2022 was $1.3 billion, up 26% from the same quarter last year, primarily due to higher production on the 737 and increased Aftermarket revenue [21][38] - Earnings per share (EPS) was negative $1.17, an improvement from negative $1.30 in Q2 2021; adjusted EPS was negative $1.21 compared to negative $0.31 in the same period last year [24][25] - Operating margin was negative 8%, down from 10% in Q2 2021, impacted by supply chain challenges and losses related to Russian sanctions [27][28] Business Line Data and Key Metrics Changes - Commercial revenue increased 28% compared to 2021, driven by higher production volumes on the 737, 777, and A220 programs, partially offset by lower production on the 787 and 747 programs [38] - Defense & Space revenue improved 3% compared to Q2 2021, due to increased production and development program activity [42] - Aftermarket revenues were up 42% compared to the same period in 2021, primarily due to higher spare part sales and maintenance activities [44] Market Data and Key Metrics Changes - Domestic air traffic has recovered to close to 2019 levels, with air traffic exceeding 2019 levels during the July 4th holiday weekend [7][8] - Spirit's backlog stands at $34 billion, with 85% attributed to narrowbody aircraft [8] Company Strategy and Development Direction - The company is focused on managing supply chain challenges and inflationary pressures while aiming to stabilize 737 MAX production rates [48] - Diversification efforts in the Defense & Space segment are progressing well, with additional work secured [49] - The Aftermarket segment is expected to continue revenue growth as aircraft utilization recovers [49] Management's Comments on Operating Environment and Future Outlook - Management acknowledges near-term pressures from supply chain issues, staffing shortages, and inflation but remains optimistic about the long-term recovery of the aerospace industry [19][20] - The company expects to deliver about 300 737 MAX units in 2022, down from previous expectations due to supply chain disruptions [11][93] Other Important Information - The company recorded a net charge of $28 million related to adjustments of certain assets and liabilities due to U.S. sanctions on Russia [14] - Free cash flow usage for Q2 2022 was $62 million, with expectations of $250 million to $300 million for the full year [33][35] Q&A Session Summary Question: Update on 787 program and FAA work - Management confirmed that all requested engineering analysis for the 787 has been submitted and they are working closely with Boeing to resolve outstanding issues [56][58] Question: Cash flow outlook for 2023 - Management indicated that cash flow generation in 2023 will depend on production rates, particularly for the 737 MAX, and they expect to be cash flow positive if production rates exceed breakeven levels [72][74] Question: Labor challenges and hiring process - Management noted that they have exhausted their recall list and are now hiring externally, with a solid staffing situation across various locations [81][83] Question: Clarification on MAX buffer and production rates - Management explained that the buffer has been reduced to 66 units and that they plan to maintain a permanent buffer of about 20 units while aligning production rates with Boeing [90][132] Question: Cash flow and working capital management - Management outlined five key levers for improving cash flow in the second half of the year, including stable 737 production rates and increased 787 deliveries [100][102]

Second Quarter 2022 Earnings Review Tom Gentile President and Chief Executive Officer Mark Suchinski Senior Vice President and Chief Financial Officer August 3, 2022 > spiritaero.com Recent Events ▪ Settled repayable investment agreement with the U.K. Department of Business, Energy and Industrial Strategy ▪ Participated in the Farnborough airshow, the first major airshow since 2019 ▪ Selected by Boeing to support the B-52 Commercial Engine Replacement Program ▪ Awarded Shooting Star Cargo Module by Sierra S ...