Audit Committee Overview

Issues on Our Agenda in 2020 • BAE SYSTEMS Obtaining shareholder input on an ongoing basis, rather than merely seeking your votes • Discussing quantum and fairness of pay • Recasting the reward system to align with strategy in a meaningful way • Balancing of financial and non-financial incentives • How performance in safety and D&I should be recognized • Analysis of peer groups for TSR purposes • Equalising pension allowances • Calibrating reward given exigencies of Covid 23 Copyright 2020 BAE Systems. All Rights Reserved. BAE SYSTEMS is a registered trademark.

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