Baird 2018 Annual Global Industrial Conference

Mercury's financial profile demonstrates our unique strategy ALL NYSE AND NASDAQ COMPANIES WITH MARKET CAPITALIZATION BETWEEN $750mm - $3bn LTM based on most recently reported quarters TIER 2 DEFENSE INDEX LTM based on most recently reported quarters # of Companies 1028 289 95 8 © 2017 Mercury Systems, Inc. EBITDA Margin >20% ● Revenue CAGR >10% 5-Year LTM Revenue Growth >20% 19% EBITDA Margin LTM Financials represent reported results and are not adjusted for acquisitions or divestitures. NASDAQ companies represent those that are U.S. listed. 5-Year CAGR calculated with 9/30/2013 LTM revenue and 9/30/2018 LTM revenue 2% 5-Year CAGR 7% LTM mercury systems.M 23% EBITDA Margin LTM 22% 5-Year CAGR Notes: Mercury LTM figures are based on the trailing four fiscal quarters using information reported in the Company's Form 10-Ks, Form 10-Qs and/or most recent earnings release. Source: FactSet; market data for most recently reported quarters as of October 29, 2018. 24% LTM TIER 2 DEFENSE INDEX: AAR Corporation, Aerojet Rocketdyne, AeroVironment, AXON Enterprises, Ball Aerospace, BWX Technologies, Comtech Telecom, Cubic Corp, Curtiss Wright Corp, Ducommun, Esterline Technologies, Elbit Systems, FireEye, FLIR Systems, Harris Corp, Heico, Hexcel, Honeywell Intl, Kaman, KBR, Kratos Defense, L-3 Communications, MDA, Mercury Systems, MOOG, Oshkosh Truck, OSI Systems, Rockwell Collins, Sparton, Teledyne Technologies, Textron, Transdigm Group, Triumph Group, United Technologies, Vectrus, Viasat Inc, VSE Corporation, Woodward Aerospace. 8

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