Recent Annual Operating Results

Recent Annual Operating Results $ in 000s Revenue Commercial Solutions Government Solutions Total Revenue Net Income (Loss) Adjusted EBITDA % of Revenue GAAP Gross Profit 2016 2017 2018 2019 2020 $ 248,955 162,049 $ 330,867 219,501 $ 345,076 225,513 $ 357,293 314,504 $ 353,730 262,985 $ 411,004 $ 550,368 $ 570,589 $ 671,797 $ 616,715 $ (7,738) $ 15,827 $ 29,769 $ 25,041 $ 7,020 $ 48,062 $ 70,705 $ 78,374 $ 93,472 $ 77,803 41.7% 39.6% 39.2% 36.8% 36.8% GAAP R&D Expenses 10.3% 9.9% 9.4% 8.4% 8.5% GAAP SG&A Expenses (1) 23.1% 21.1% 20.0% 19.1% 19.0% GAAP Operating Income (Loss) (0.1)% 6.7% 6.2% 6.2% 2.5% Net Income (Loss) (1.9)% 2.9% 5.2% 3.7% 1.1% Adjusted EBITDA (2) 11.7% 12.8% 13.7% 13.9% 12.6% GAAP EPS $ (0.46) $ 0.67 $ 1.24 $ 1.03 $ 0.28 2016: Fiscal 2016 impacted by TCS acquisition 2017: Excluding $18.8 million of favorable adjustments (described in our Form 10-K), operating income would have been 3.3% of net sales 2018: Includes $11.8 million, or $0.49 per diluted share, discrete tax benefit ("Tax Gain") primarily due to Tax Reform 2020: Impacted by COVID-19 COMTECH LOCATION TECHNOLOGIES (1) Acquisition plan expenses are presented as a separate line item, and therefore they are not included in the SG&A percentage. (2) See Appendix II of this presentation for the reconciliation of reported Net Income (Loss) to Adjusted EBITDA. (3) Comtech's fiscal year end is July 31. Notes 20 20

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