Combination Creates a Government Services Prime
Highly Visible Expected Synergies With Track Record of Realization
Target Net Cost Synergies % of Revenue
~1-2%
~0.5%
CMS/C&I + Amentum
$50-70M
Precedents
Total Expected Net
Cost Synergies
✓ $50 - 70M of expected net cost synergies to be
achieved after close
✓ Both organizations have track record of effective
synergy realization
✓ Amentum brings fully integrated support and
infrastructure to be backbone of public company
systems and accelerate synergy realization
✓ Additional upside from revenue synergies due to
enhanced skill and capabilities
High Confidence Based on Combined Track Record and Joint Synergy Planning
10
OJacobs 2023
Note: Precedent transactions include (i) CSC's North American Public Sector Business merging with SRA, (ii) Lockheed's IS&GS business merging with Leidos, and (iii) DXC Technology's U.S. Public Sector Business merging with Vencore and KeyPointView entire presentation