4th Quarter and Full Fiscal Year 2019 Financial Results & American Panel Corporation Acquisition Overview

Successful M&A and integration strategy ● ● ● Including APC, completed 5 acquisitions in the last 12 months for $228M (1) Deployed ~$800M for 11 acquisitions over last 5 years (¹ 5-year 26% revenue and 46% adj. EBITDA CAGR FY14-FY19 Strategy for continued long-term shareholder value creation: Adj. EBITDA margins greater than 20% High single-digit, low double-digit organic revenue growth Targeting 20% total company annual revenue growth including acquisitions - Multiple simultaneous M&A themes in C41 Increase secure rugged server business for C21 Expand mission computing and avionics processing business - Notes: (1) Includes the acquisition of American Panel Corporation that is expected to close at the end of Q1 FY20. © 2019 Mercury Systems, Inc. 5

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