Original post by ThatguyAlI went through a lot of recruiting cycles when I was looking for engineering placements/internships and then for the graduate roles.
I did pretty bad in my 1st year, probably getting around 2:2 as well, however I always put "predicted 1st" in my applications. I did achieve it in the end so it wasn't a lie. Some Unis do that formally where a head of department or a lead tutor would give you a letter with "predicted" grade, but even then you are not required to submit it to the employer. You can always say "references available upon request" in the application. 99% of the time no one checks for the references unless the job is in defence, aerospace or medical sectors (sometimes in building/construction, but not that often).
In my experience doing literally dozens of job applications and a little shy of 10 interviews, and in the end receiving about 4-5 job offers, I can say that not a single time an employer (no matter how big, think GE, Arup, Thales kind of companies) requested my grades transcript.
The only time when that happened was for my graduate role - I've gotten a conditional job offer (pretty standard thing) where the requirement was for me to achieve a minimum of 2:1. I achieved 1st, submitted my diploma to the employer and gotten the job offer firmed there and then no problem.
Now in my job I employ STEM interns and graduates for the place where I work and I can say that I only care if you get 2:1 or better at the end of your studies. I couldn't care less if you've gotten a 2:2 on your 1st year, it doesn't mean much. Same as if your A levels or whatever were poor, who cares?
What will matter more is the quality of your application and how you perform on the interview if you get to that stage.
The very big corporations have the luxury of being able to cherry pick from the pool of candidates since they receive hundreds of application per an open position, so expect tougher competition.
Don't worry though, if you put enough effort in the studies you can get 1st too, or at least a 2:1 without much problems. About 30% of my class gotten 1st, 50% 2:1 and the rest 2:2 and below.
You can always add value to your resume by doing extracurricular activities that are relevant to your degree. For instance Formula student competition is one of the best things you can do in that regard. If you can't get involved in that, then do some engineering related projects in your spare time - CAD drawings and analysis if you're Mech Eng, circuit design and C programming if you're Elec Eng, write code if you're in CS or any other STEM domain. Build your portfolio basically.
An advise if you don't mind - never compromise yourself on your CV or in the interview. Admitting mistakes or shortcomings is a good trait to show especially if you've recovered from that, but if you must then only do that in the later stages of recruitment, ideally in the interview where you can explain in the detail your weaknesses and how you managed to overcome them and become better. Don't lie on your resume, but also don't compromise yourself.
All the best,
Al