Company: NOC
Filing Date: 2025-05-28
Form Type: 424B5
Source: 0001193125-25-129530
Chunk: 32

Company: NORTHROP GRUMMAN CORP /DE/
Filing Date: 2025-05-28
Form: 424B5
Chunk 32
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 does not develop, the market price and liquidity of the notes
may be adversely affected.

In connection with the offering, the underwriters may purchase and sell the notes in the open market. These transactions may
include short sales, purchases to cover positions created by short sales and stabilizing transactions. If the underwriters engage in these transactions, they may discontinue doing so at any time.

Short sales involve the sale by the underwriters of a greater principal amount of notes than they are required to purchase in the offering. The underwriters
may close out any short position by purchasing notes in the open market. A short position is more likely to be created if underwriters are concerned that there may be downward pressure on the price of the notes in the open market prior to the
completion of the offering.

Stabilizing transactions consist of various bids for or purchases of the notes made by the underwriters in the open market
prior to the completion of the offering.

The underwriters may impose a penalty bid. This occurs when a particular underwriter repays to the other
underwriters a portion of the underwriting discount received by it because the representatives of the underwriters have repurchased notes sold by or for the account of that underwriter in stabilizing or short covering transactions.

Purchases to cover a short position and stabilizing transactions may have the effect of preventing or slowing a decline in the market price of the notes.
Additionally, these purchases, along with the imposition of the penalty bid, may stabilize, maintain or otherwise affect the market price of the notes. As a result, the price of the notes may be higher than the price that might otherwise exist in
the open market. These transactions may be effected in the over-the-counter market or otherwise.

The underwriters and their respective affiliates are full service financial institutions engaged in various activities, which may include sales and trading,
commercial and investment banking, advisory, investment management, investment research, principal investment, hedging, market making, brokerage and other financial and non-financial activities and services.
Certain of the underwriters or their respective affiliates have from time to time performed various financial advisory, commercial banking, investment banking, or hedging services for us, including repurchases of Northrop Grumman common stock, in
the ordinary course of their respective businesses, for which they have received customary fees and reimbursement of expenses. Certain of the underwriters or their affiliates are lenders, and are also agents, under our revolving credit facility. In
addition, certain of the underwriters or their respective affiliates