2020 Annual Meeting of Shareholders

Execution, mix shift impacts resolve as conditions normalize ■ Fourth fiscal year of dealing with derivative effects of pandemic ▪ Prior-year impacts on revenue and bookings have now shifted to margins ▪ Mix shift, product and program execution driving temporary margin degradation End-market demand still strong; remain focused on controlling what we can Business model, financial outlook sound, expect pre-pandemic margins as conditions normalize ▪ Further margin expansion as late-stage development programs transition to production Ⓒ Mercury Systems, Inc. Does not contain Technical Data. //Mercury Proprietary/No Tech Data// mercury

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