| --- | --- | |-------|------------------| | | | | | | | | October 29, 2021 | | | | | | | | | | Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2021 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: 1-3863 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchan ...

| --- | |----------------| | | | | | August 3, 2021 | | | | | Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements in this presen ...

L3Harris Technologies, Inc. (NYSE:LHX) Q2 2021 Earnings Conference Call August 3, 2021 8:30 AM ET Company Representatives Chris Kubasik - Chief Executive Officer Jay Malave - Chief Financial Officer Rajeev Lalwani - Vice President, Investor Relations Conference Call Participants Doug Harned - Bernstein Kristine Liwag - Morgan Stanley David Strauss - Barclays Robert Stallard - Vertical Research Myles Walton - UBS Richard Safran - Seaport Global Gautam Khanna - Cowen Sheila Kahyaoglu - Jefferies Rob Spingarn ...

Merger and Divestiture Activities - L3Harris Technologies reported total merger-related expenses of $20 million for the quarter ended July 2, 2021, and $60 million for the same quarter in 2020, with total expenses of $41 million and $106 million for the two quarters ended July 2, 2021, and July 3, 2020, respectively [23]. - The company completed the divestiture of the military training business for $1,050 million, netting $1,057 million after selling costs and adjustments [38]. - L3Harris entered into a definitive agreement to sell its Electron Devices business for $185 million, expected to close in the second half of fiscal 2021 [30]. - The divestiture of the Combat Propulsion Systems business was completed for $398 million, resulting in net proceeds of $347 million after selling costs [36]. - L3Harris divested the EOTech business for $42 million, netting $40 million after selling costs and adjustments [39]. - The total business divestiture-related gains for the quarter ended July 2, 2021 amounted to $180 million, compared to a loss of $49 million for the same quarter in the previous year [44]. - The total goodwill impairment charge recognized in connection with the CPS business divestiture was $62 million, included in the "Impairment of goodwill and other assets" line item [37]. - The company derecognized $486 million of intangible assets associated with completed divestitures during the two quarters ended July 2, 2021 [73]. - Goodwill decreased by $538 million due to divestitures during the two quarters ended July 2, 2021 [62]. Financial Performance - For the quarter ended July 2, 2021, income from continuing operations was $413 million, compared to $283 million for the same quarter in 2020, representing a 46% increase [82]. - The diluted income from continuing operations per share for the quarter ended July 2, 2021, was $2.01, up from $1.30 for the same quarter in 2020, reflecting a 55% increase [82]. - The company reported total income from continuing operations before income taxes of $582 million for the quarter ended July 2, 2021, up from $336 million for the same quarter in 2020 [107]. - Non-operating income for the quarter ended July 2, 2021, totaled $86 million, compared to $105 million for the same quarter in 2020, a decrease of 18% [83]. - The net periodic benefit income for the pension plans was $(93) million for the quarter ended July 2, 2021, compared to $(77) million for the same quarter in 2020 [82]. - The company recognized a pre-tax settlement gain of $3 million from a pension obligation de-risking initiative during the quarter ended July 2, 2021 [78]. Revenue and Backlog - Total revenue for the quarter ended July 2, 2021, was $4.668 billion, an increase from $4.445 billion in the same quarter of 2020 [107]. - The company's ending backlog was $20.2 billion as of July 2, 2021, with an expectation to recognize approximately 66% of this revenue by the end of 2022 [103]. - Revenue from prime contractor relationships across all segments totaled $3,056 million for the two quarters ended July 2, 2021, up from $2,883 million for the same period in 2020, an increase of 6.0% [113][115][117][120]. - The U.S. Government remains the primary customer, with total revenue from U.S. contracts amounting to $3,034 million for the two quarters ended July 2, 2021, compared to $3,025 million for the same period in 2020 [113][115][117][120]. Asset and Liability Management - As of July 2, 2021, net receivables were $1,197 million, a decrease from $1,344 million on January 1, 2021 [52]. - Contract assets increased to $2,648 million as of July 2, 2021, compared to $2,437 million on January 1, 2021 [56]. - Total inventories decreased to $872 million as of July 2, 2021, down from $973 million on January 1, 2021 [58]. - Property, plant, and equipment, net totaled $2,026 million as of July 2, 2021, compared to $2,102 million on January 1, 2021 [59]. - Long-term debt (including current portion) was $7,072 million as of July 2, 2021, compared to $6,953 million as of January 1, 2021, reflecting an increase of 1.7% [90]. - The liability for standard product warranties decreased from $133 million at January 1, 2021, to $123 million at July 2, 2021 [75]. Impairments and Amortization - The company recorded additional pre-tax losses of $18 million and $26 million for non-cash remeasurement losses related to the VSE disposal group during the quarter and two quarters ended July 2, 2021 [34]. - An $82 million non-cash impairment charge for long-lived assets was recorded for the quarter and two quarters ended July 2, 2021 [61]. - The amortization of identifiable intangible assets from the L3Harris Merger was $131 million for the quarter ended July 2, 2021, compared to $183 million for the same quarter in 2020 [108]. - Amortization expense for identifiable intangible assets was $156 million for the quarter ended July 2, 2021 [74]. - Future estimated amortization expense for identifiable intangible assets is projected to total $5,134 million over the next five years [74]. Risks and Challenges - The company faces risks associated with foreign currency exchange rates and changes in interest rates, employing established policies to manage these risks [223]. - The company must attract and retain key employees, as failure to do so could seriously harm its operations [223]. - The company has significant operations in locations that could be adversely impacted by natural disasters or significant disruptions [223]. - Changes in estimates used in accounting could adversely affect future financial results [223]. - The company may not realize all anticipated benefits from the L3Harris Merger, and integration difficulties may arise [223].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 2, 2021 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: 1-3863 L3HARRIS TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) Delaware 34-0276860 (State or other juri ...

Financial Data and Key Metrics Changes - Organic revenue increased by approximately 2%, with mid-single-digit growth in core government businesses, partially offset by a 3-point decline in commercial businesses due to COVID-19 impacts [6][29] - Margins expanded by 140 basis points to 18.9%, resulting in earnings per share of $3.18, up 14% [7][30] - Free cash flow reached $630 million, supporting shareholder returns exceeding $900 million, including $700 million in share repurchases [8][31] Business Line Data and Key Metrics Changes - Integrated Mission Systems (IMS) revenue rose by 5.9%, driven by growth in maritime and ISR sectors [32] - Space & Airborne Systems (SAS) organic revenue increased by 4.1%, with strong growth in Space and classified programs [33] - Communication Systems organic revenue grew by 2.9%, with high single-digit growth in tactical communications [35] - Aviation Systems organic revenue decreased by 8.3%, primarily due to COVID-related impacts in commercial aviation [36] Market Data and Key Metrics Changes - Core government businesses grew by 4.8%, while international revenue saw double-digit growth [15][29] - Funded book-to-bill ratio was 1.10 for the quarter, with total backlog exceeding $21 billion, up 6% year-over-year [23] Company Strategy and Development Direction - The company aims for sustainable topline growth, steady margin expansion, and robust free cash flow, with a focus on national security and military support [14][27] - Strategic priorities include revenue synergies and international expansion, supported by R&D investments [15][27] - The company is well-positioned to capitalize on opportunities in defense, space, and cyber domains, with a strong emphasis on advanced and affordable solutions [14][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding growth prospects due to the Biden administration's defense budget increase and focus on national security [14] - The company anticipates more stability in affected businesses as pandemic-related impacts diminish [6] - Management is confident in achieving a $3 billion free cash flow commitment in 2022, alongside double-digit cash growth on a per-share basis [27] Other Important Information - The company is on track to deliver up to $350 million in cumulative net benefits from cost synergies, a year ahead of schedule [24] - Recent portfolio shaping efforts include divestitures, with a focus on maximizing cash flow and shareholder returns [26][27] Q&A Session Summary Question: International growth drivers and Space business outlook - Management highlighted double-digit growth in international markets driven by aircraft ISR and tactical radios, with a $35 billion pipeline of opportunities over the next three years [45] - The Space business is expected to grow due to responsive satellite programs and classified bids, with double-digit growth anticipated [48] Question: Communications margin performance - Management noted that strong margins were due to operational excellence and cost management, but some normalization is expected due to new program pressures [52] Question: Impact of divestitures on margins - Management indicated that announced divestitures would dilute margins by about 100 basis points, but organic improvements could offset this impact over time [85] Question: Confidence in continued margin improvement - Management emphasized the importance of ongoing management attention and the successful integration of cost synergies, which are expected to drive sustainable margin improvements [88][90] Question: Tactical Radios sales and backlog - Management provided insights into strong domestic and international sales, with a funded backlog of $958 million and significant growth expected from Army modernization efforts [73] Question: F-35 program updates - Management discussed progress on the F-35 program, highlighting stable cost estimates and a commitment to production readiness, with expectations for growth in ship set content [80][81]

Financial Performance - L3Harris reported a 1.8% increase in organic revenue[3], with U S and international government revenue up by 4.8%[3] - The company achieved a margin expansion of 140 bps, reaching 18.9%, the healthiest result since the merger[4] - First quarter net cost synergies amounted to $33 million, putting the company on track to achieve $320 million - $350 million in cumulative net synergies for the year[4] - Earnings per share (EPS) increased by 14% to $3.18, driven by e3 program, synergies, and share count reduction[4] - Adjusted Free Cash Flow (FCF) was reported at $630 million[5] Capital Deployment - L3Harris returned $909 million to shareholders, including $700 million in share repurchases and $209 million in dividends after a 20% raise[5] - The company anticipates an upside to its $2.3 billion share repurchase guidance upon closing of divestitures[5] Segment Performance - Integrated Mission Systems (IMS) revenue increased by 5.9%[11], with operating income up by 19% and margin expanded by 180 bps to 16.5%[13, 14] - Space & Airborne Systems (SAS) revenue increased by 4.1%[16], with operating income up by 8.6% and margin expanded by 90 bps to 19.4%[16, 17] - Communication Systems (CS) revenue increased by 2.9%[19], with operating income up by 12% and margin expanded by 240 bps to 25.3%[20, 21] - Aviation Systems (AS) revenue decreased by 19%, but only down 8.3% organically[24], Non-GAAP operating income down 13%[24], Non-GAAP margin expanded 120 bps to 15.7%[24] Guidance - L3Harris updated its full-year organic revenue growth guidance to 3.0% - 5.0%[26] - The company projects full-year EPS to be in the range of $12.70 - $13.00[26] - The company expects full-year Free Cash Flow (FCF) to be in the range of $2.8 billion - $2.9 billion[26]

L3Harris Technologies, Inc. (NYSE:LHX) Q4 2020 Earnings Conference Call January 29, 2021 8:30 AM ET Company Participants Rajeev Lalwani – Vice President, Investor Relations Bill Brown – Chief Executive Officer Chris Kubasik – Chief Operating Officer Jay Malave – Chief Financial Officer Conference Call Participants Sheila Kahyaoglu – Jefferies Carter Copeland – Melius Research Robert Stallard – Vertical Research Partners Kristine Liwag – Morgan Stanley Gautam Khanna – Cowen Noah Poponak – Goldman Sachs Richa ...

L SHARRIS" L3HARRIS CY2020 FOURTH QUARTER EARNINGS CALL PRESENTATION January 29, 2021 Forward-Looking Statements Statements in this presentation that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance on the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking s ...