2Q 2023 Earnings Conference Call

Raytheon Missiles & Defense Segment Highlights 2Q 2023 ● ● ● Sales Operating Profit ROS Reported - 4,000 415 Adjusted operating profit* up 23% Adjusted* 4,000 427 Backlog $35 billion 10.4% Organic sales* up 13% Adjusted sales* up 12% Higher volume in Air Power, Advanced Technology, and Land Warfare & Air Defense 10.7% Favorable net program efficiencies Higher volume YOY Var.* 12% - ($ millions) 23% 90 bps Unfavorable mix resulting from early stage production programs 2Q book-to-bill ratio 0.92, YTD book-to-bill ratio 1.17 $1.2B for AMRAAM $294M of classified bookings $265M for Javelin $251M for AIM-9X $237M for CLEAVAR RTX *See Appendix for additional information regarding these non-GAAP financial measures. RMD was awarded a $1.2 billion contract for C-8 AMRAAMⓇ and AIM-120 D-3 missiles. This is the largest AMRAAM missile contract to date and the fifth production lot of the highly advanced missiles developed under the Form, Fit, Function Refresh, which updates the missile's hardware and allows for agile software upgrades. 4

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