2020 Annual Meeting of Shareholders

3 Q3 FY23 revenue trends positive, bottom-line pressures continue Revenue, GAAP net inc., EPS beat Q3 guidance; adj. EBITDA at midpoint, CF positive ex-R&D tax ▪ Q3 YOY backlog up 10%, bookings tracking expectations; GAAP net income, EPS higher ▪ Q3 adjusted EPS, and adjusted EBITDA decline with anticipated program delay Expect strong demand with record FY23 bookings and positive book-to-bill Revenue expected flat to slightly up YOY due to award and supply chain delays ▪ FY23 Revenue, GAAP net income, adj. EBITDA guidance lower; cash flow ex-R&D tax credit improves Ⓒ Mercury Systems, Inc. Does not contain Technical Data. //Mercury Proprietary/No Tech Data// mercury

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