Fourth Quarter and Fiscal Year 2023 Financial Results

17 Free cash flow reconciliation (In thousands) Cash (used in) provided by operating activities Purchases of property and equipment Free cash flow Organic revenue reconciliation Q4 FY22 $ (19,435) (8,180) (8,846) (27,656) $(27,615) $ 3,764 $ (46,525) © Mercury Systems, Inc. Q4 FY23 FY22 FY23 $12,610 $ (18,869)| $ (21,254) (38,796) $ (60,050) (In thousands) Q4 FY22 Q4 FY23 FY22 FY23 Organic revenue (¹ $ 289,729 $ 253,236 $ 982,153 $948,814 Acquired revenue 6,044 25,068 $973,882 Net revenues $ 289,729 $253,236 $ 988,197 Does not contain Technical Data. //Mercury Proprietary/No Tech Data// Notes (1) Organic revenue represents total company revenue excluding net revenue from acquisitions for the first four full quarters since the entities' acquisition date (which excludes any intercompany transactions). After the completion of four fiscal quarters, acquired businesses are treated as organic for current and comparable historical periods. mercury

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