|                           |
|---------------------------|
|                           |  |
| Contact Information:      |   |
| Pam Padgett               | Jim Burke |
| Investor Relations        | Media Relations |
| Harris Corporation        | Harris Corporation |
| pamela.padgett@harris.com | jim.burke@harris.com |
| 321-727-9383              | 321-727-9131 |

|         |                                                                                   |
|---------|-----------------------------------------------------------------------------------|
| • | 2Q17 EPS from continuing operations $1.33 GAAP, down 16%; $1.42 non-GAAP, down 3% |

|         |                                                                                   |
|---------|-----------------------------------------------------------------------------------|
| • | 2Q17 CapRock current and prior period results reported as discontinued operations |

|         |                                                                    |
|---------|--------------------------------------------------------------------|
| • | 2Q17 operating cash flow $252 million; free cash flow $224 million |

|         |                                                                                                                                                                    |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | 3Q17 announcement of definitive agreement to sell government IT services business for $690 million and approval of new $1.0 billion share repurchase authorization |

|         |                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------|
| • | Fiscal 2017 guidance updated to reflect both CapRock and government IT services in discontinued operations |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Quarter Ended |   | Two Quarters Ended |
|                                                  | December 30, 2016 |   | January 1, 2016 (A) |   | December 30, 2016 |   | January 1, 2016 (A) |
|                                                  |   |   |   |   |   |   |   |
|                                                  | (In millions, except per share amounts) |
| Revenue from product sales and services               | $ | 1,700 |  |   | $ | 1,748 |  |   | $ | 3,378 |  |   | $ | 3,458 |  |
| Cost of product sales and services                    | (1,138 | ) |   | (1,203 | ) |   | (2,258 | ) |   | (2,347 | ) |
| Engineering, selling and administrative expenses      | (276 | ) |   | (217 | ) |   | (572 | ) |   | (525 | ) |
| Non-operating income                                  | 1 |  |   | — |  |   | 2 |  |   | 1 |  |
| Interest income                                       | 1 |  |   | — |  |   | 1 |  |   | 1 |  |
| Interest expense                                      | (44 | ) |   | (46 | ) |   | (88 | ) |   | (93 | ) |
| Income from continuing operations before income taxes | 244 |  |   | 282 |  |   | 463 |  |   | 495 |  |
| Income taxes                                          | (76 | ) |   | (85 | ) |   | (139 | ) |   | (152 | ) |
| Income from continuing operations                     | 168 |  |   | 197 |  |   | 324 |  |   | 343 |  |
| Discontinued operations, net of income taxes          | 9 |  |   | (349 | ) |   | 13 |  |   | (347 | ) |
| Net income (loss)                                     | $ | 177 |  |   | $ | (152 | ) |   | $ | 337 |  |   | $ | (4 | ) |
|                                                  |   |   |   |   |   |   |   |
| Net income (loss) per common share                    |   |   |   |   |   |   |   |
| Basic                                                 |   |   |   |   |   |   |   |
| Continuing operations                                 | $ | 1.35 |  |   | $ | 1.59 |  |   | $ | 2.60 |  |   | $ | 2.77 |  |
| Discontinued operations                               | 0.07 |  |   | (2.82 | ) |   | 0.11 |  |   | (2.81 | ) |
|                                                  | $ | 1.42 |  |   | $ | (1.23 | ) |   | $ | 2.71 |  |   | $ | (0.04 | ) |
| Diluted                                               |   |   |   |   |   |   |   |
| Continuing operations                                 | $ | 1.33 |  |   | $ | 1.58 |  |   | $ | 2.57 |  |   | $ | 2.75 |  |
| Discontinued operations                               | 0.07 |  |   | (2.80 | ) |   | 0.11 |  |   | (2.78 | ) |
|                                                  | $ | 1.40 |  |   | $ | (1.22 | ) |   | $ | 2.68 |  |   | $ | (0.03 | ) |
|                                                  |   |   |   |   |   |   |   |
| Cash dividends paid per common share                  | $ | 0.53 |  |   | $ | 0.50 |  |   | $ | 1.06 |  |   | $ | 1.00 |  |
| Basic weighted average common shares outstanding      | 123.7 |  |   | 123.8 |  |   | 123.8 |  |   | 123.6 |  |
| Diluted weighted average common shares outstanding    | 125.4 |  |   | 124.9 |  |   | 125.5 |  |   | 124.7 |  |

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|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  |   | Quarter Ended |   | Two Quarters Ended |
|                                                  |   | December 30, 2016 |   | January 1, 2016 |   | December 30, 2016 |   | January 1, 2016 |
|                                                  |   |   |   |   |   |   |   |   |
|                                                  |   | (In millions) |
| Revenue                                               |   |   |   |   |   |   |   |
| Communication Systems                                 | $ | 413 |  |   | $ | 489 |  |   | $ | 843 |  |   | $ | 943 |  |
| Space and Intelligence Systems                        | 468 |  |   | 446 |  |   | 921 |  |   | 881 |  |
| Electronic Systems                                    | 384 |  |   | 381 |  |   | 745 |  |   | 756 |  |
| Critical Networks (A)                                 | 454 |  |   | 446 |  |   | 905 |  |   | 910 |  |
| Corporate eliminations                                | (19 | ) |   | (14 | ) |   | (36 | ) |   | (32 | ) |
|                                                  | $ | 1,700 |  |   | $ | 1,748 |  |   | $ | 3,378 |  |   | $ | 3,458 |  |
| Income From Continuing Operations Before Income Taxes |   |   |   |   |   |   |   |
| Segment Operating Income:                             |   |   |   |   |   |   |   |
| Communication Systems                                 | $ | 121 |  |   | $ | 121 |  |   | $ | 240 |  |   | $ | 259 |  |
| Space and Intelligence Systems                        | 77 |  |   | 68 |  |   | 157 |  |   | 135 |  |
| Electronic Systems                                    | 79 |  |   | 63 |  |   | 153 |  |   | 132 |  |
| Critical Networks (A)                                 | 75 |  |   | 63 |  |   | 135 |  |   | 123 |  |
| Unallocated corporate income (expense)                | (65 | ) |   | 14 |  |   | (135 | ) |   | (61 | ) |
| Corporate eliminations                                | (1 | ) |   | (1 | ) |   | (2 | ) |   | (2 | ) |
| Non-operating income                                  | 1 |  |   | — |  |   | 2 |  |   | 1 |  |
| Net interest expense                                  | (43 | ) |   | (46 | ) |   | (87 | ) |   | (92 | ) |
|                                                  | $ | 244 |  |   | $ | 282 |  |   | $ | 463 |  |   | $ | 495 |  |

----

|                                                                                          |
|------------------------------------------------------------------------------------------|
|                                                                                          |  |  |  |  |  |  |  |
|                                                                                     | Two Quarters Ended |
|                                                                                     | December 30, 2016 |   | January 1, 2016 (A) |
|                                                                                     |   |   |   |
|                                                                                     | (In millions) |
| Operating Activities                                                                     |   |   |   |
| Net income (loss)                                                                        | $ | 337 |  |   | $ | (4 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |   |   |   |
| Depreciation and amortization                                                            | 101 |  |   | 114 |  |
| Amortization of intangible assets from Exelis Inc. acquisition                           | 66 |  |   | 66 |  |
| Share-based compensation                                                                 | 22 |  |   | 19 |  |
| Qualified pension plan contributions                                                     | (103 | ) |   | (97 | ) |
| Pension income                                                                           | (49 | ) |   | (12 | ) |
| Net liability reduction for certain post-employment benefit plans                        | — |  |   | (101 | ) |
| Impairment of goodwill and other assets                                                  | — |  |   | 367 |  |
| Adjustment to loss on sales of businesses, net                                           | — |  |   | 21 |  |
| (Increase) decrease in:                                                                  |   |   |   |
| Accounts receivable                                                                      | 125 |  |   | 220 |  |
| Inventories                                                                              | (50 | ) |   | (91 | ) |
| Increase (decrease) in:                                                                  |   |   |   |
| Accounts payable and accrued expenses                                                    | (132 | ) |   | (128 | ) |
| Advance payments and unearned income                                                     | (58 | ) |   | (59 | ) |
| Other                                                                                    | 36 |  |   | 72 |  |
| Net cash provided by operating activities                                                | 295 |  |   | 387 |  |
| Investing Activities                                                                     |   |   |   |
| Net additions of property, plant and equipment                                           | (49 | ) |   | (49 | ) |
| Adjustment to proceeds from sale of business                                             | (25 | ) |   | — |  |
| Net cash used in investing activities                                                    | (74 | ) |   | (49 | ) |
| Financing Activities                                                                     |   |   |   |
| Proceeds from borrowings                                                                 | 185 |  |   | 209 |  |
| Repayments of borrowings                                                                 | (300 | ) |   | (395 | ) |
| Proceeds from exercises of employee stock options                                        | 27 |  |   | 33 |  |
| Repurchases of common stock                                                              | (100 | ) |   | — |  |
| Cash dividends                                                                           | (134 | ) |   | (127 | ) |
| Other financing activities                                                               | (19 | ) |   | (15 | ) |
| Net cash used in financing activities                                                    | (341 | ) |   | (295 | ) |
| Effect of exchange rate changes on cash and cash equivalents                             | (6 | ) |   | (13 | ) |
| Net increase (decrease) in cash and cash equivalents                                     | (126 | ) |   | 30 |  |
| Cash and cash equivalents, beginning of year                                             | 487 |  |   | 481 |  |
| Cash and cash equivalents, end of quarter                                                | $ | 361 |  |   | $ | 511 |  |

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|                                      |
|--------------------------------------|
|                                      |  |  |  |  |  |  |  |
|                                 | December 30, 2016 |   | July 1, 2016 (A) |
|                                 |   |   |   |
|                                 | (In millions) |
| Assets                               |   |   |   |
| Cash and cash equivalents            | $ | 361 |  |   | $ | 487 |  |
| Receivables                          | 762 |  |   | 871 |  |
| Inventories                          | 1,001 |  |   | 950 |  |
| Property, plant and equipment        | 908 |  |   | 943 |  |
| Goodwill                             | 5,848 |  |   | 5,839 |  |
| Other intangible assets              | 1,437 |  |   | 1,518 |  |
| Other assets                         | 1,301 |  |   | 1,385 |  |
|                                 | $ | 11,618 |  |   | $ | 11,993 |  |
| Liabilities and Equity               |   |   |   |
| Short-term debt                      | $ | 183 |  |   | $ | 15 |  |
| Accounts payable                     | 540 |  |   | 591 |  |
| Compensation and benefits            | 130 |  |   | 166 |  |
| Advance payments and unearned income | 260 |  |   | 314 |  |
| Current portion of long-term debt    | 130 |  |   | 382 |  |
| Defined benefit plans                | 2,144 |  |   | 2,296 |  |
| Long-term debt, net                  | 4,087 |  |   | 4,120 |  |
| Other liabilities                    | 986 |  |   | 1,052 |  |
| Equity                               | 3,158 |  |   | 3,057 |  |
|                                 | $ | 11,618 |  |   | $ | 11,993 |  |

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|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |  |
|                                                                              |   | Quarter Ended |
|                                                                              |   | December 30, 2016 |
|                                                                              |   | Amount |   | Diluted Per Share Amount |
|                                                                              |   |   |   |   |
|                                                                              |   | (In millions, except per share amounts) |
| GAAP income from continuing operations and related diluted earnings per share     | $ | 168 |  |   | $ | 1.33 |  |
| Non-GAAP adjustments:                                                             |   |   |  |
| Integration and other Exelis Inc. acquisition-related costs ($13 million pre-tax) | 10 |  |   | 0.09 |  |
| Non-GAAP income from continuing operations and related diluted earnings per share | $ | 178 |  |   | $ | 1.42 |  |
|                                                                              |   |   |   |
|                                                                              | Quarter Ended |
|                                                                              |   | January 1, 2016 |
|                                                                              |   | Amount |   | Diluted Per Share Amount |
|                                                                              |   |   |   |   |
|                                                                              |   | (In millions, except per share amounts) |
| GAAP income from continuing operations and related diluted earnings per share     | $ | 197 |  |   | $ | 1.58 |  |
| Non-GAAP adjustments:                                                             |   |   |   |
| Net liability reduction for certain post-employment benefit plans                 | (101 | ) |   |   |
| Integration and other Exelis Inc. acquisition-related costs                       | 46 |  |   |   |
| Charges for restructuring and other items                                         | 26 |  |   |   |
| Total pre-tax adjustments                                                         | (29 | ) |   |   |
| Income tax on above adjustments                                                   | 16 |  |   |   |
| Total adjustments                                                                 | (13 | ) |   | (0.11 | ) |
| Non-GAAP income from continuing operations and related diluted earnings per share | $ | 184 |  |   | $ | 1.47 |  |

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|                                           |
|-------------------------------------------|
|                                           |  |  |  |  |
|                                      |   | Quarter Ended |
|                                      |   | December 30, 2016 |
|                                      |   |   |
|                                      |   | (In millions) |
| Net cash provided by operating activities | $ | 252 |  |
| Less net capital expenditures (A)         | (28 | ) |
| Free cash flow                            | $ | 224 |  |

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|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                | Quarter Ended |
|                                                | January 1, 2016 |
|                                                | As Reported |   | Adjustment (A) |   | Non-GAAP |
|                                                |   |   |   |   |   |
|                                                | (In millions) |
| Segment Operating Income                            |   |   |   |   |   |
| Communication Systems                               | $ | 121 |  |   | $ | 17 |  |   | $ | 138 |  |
| Electronic Systems                                  | 63 |  |   | 6 |  |   | 69 |  |
| Critical Networks                                   | 63 |  |   | 3 |  |   | 66 |  |
|                                                |   |   |   |   |   |   |
| (A) Adjustments for restructuring and other charges |

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|                                                                     |
|---------------------------------------------------------------------|
|                                                                     |  |  |
|                                                                |   | 2017 |
|                                                                |   | (Guidance) |
| GAAP income from continuing operations per diluted common share     | $5.21 to $5.41 |
| Estimated net impact of acquisition-related items                   | $.19 |
| Non-GAAP income from continuing operations per diluted common share | $5.40 to $5.60 |
|                                                                |   |   |