|         |                                                                         |
|---------|-------------------------------------------------------------------------|
| • | 4Q19 revenue up 12% to $1.9 billion; book-to-bill 1.02  |

|         |                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------|
| • | 4Q19 GAAP EPS from continuing operations up 28% to $2.21; non-GAAP1 up 39% to $2.44  |

|         |                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|
| • | FY19 revenue up 10% to $6.8 billion; GAAP EPS from continuing operations up 37% to $7.89; non-GAAP1 up 30% to $8.29  |

|         |                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------|
| • | FY19 operating cash flow of $1,185 million; adjusted free cash flow2 up 15% to $1,055 million  |

|         |                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------|
| • | Completed merger to form L3Harris Technologies after FY19 ended; initiated second half and calendar year 2019 guidance |

----

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | ($ millions, except per share data) | Fourth Quarter |   | Full Year |   |
|   |   | FY 2019 |   | FY 2018 |   | Change |   | FY 2019 |   | FY 2018 |   | Change |   |
|   | Orders | $ | 1,904 |  |   | $ | 1,861 |  |   | 2% |   | $ | 7,451 |  |   | $ | 7,429 |  |   | —% |   |
|   | Revenue | $ | 1,865 |  |   | $ | 1,661 |  |   | 12% |   | $ | 6,801 |  |   | $ | 6,168 |  |   | 10% |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | (GAAP comparison) |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Net income | $ | 268 |  |   | $ | 213 |  |   | 26% |   | $ | 949 |  |   | $ | 699 |  |   | 36% |   |
|   | Net income margin | 14.4 | % |   | 12.8 | % |   | 160bps |   | 14.0 | % |   | 11.3 | % |   | 270bps |   |
|   | Earnings per share | $ | 2.21 |  |   | $ | 1.72 |  |   | 28% |   | $ | 7.89 |  |   | $ | 5.78 |  |   | 37% |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | (Non-GAAP comparison)3 |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Adjusted EBIT | $ | 377 |  |   | $ | 323 |  |   | 17% |   | $ | 1,345 |  |   | $ | 1,166 |  |   | 15% |   |
|   | Adjusted EBIT margin | 20.2 | % |   | 19.4 | % |   | 80bps |   | 19.8 | % |   | 18.9 | % |   | 90bps |   |
|   | Earnings per share | $ | 2.44 |  |   | $ | 1.76 |  |   | 39% |   | $ | 8.29 |  |   | $ | 6.39 |  |   | 30% |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | ($ millions) | Fourth Quarter |   | Full Year |   |
|   |   | FY 2019 |   | FY 2018 |   | Change |   | FY 2019 |   | FY 2018 |   | Change |   |
|   | Revenue | $ | 600 |  |   | $ | 527 |  |   | 14% |   | $ | 2,177 |  |   | $ | 1,904 |  |   | 14% |   |
|   | Operating income | $ | 180 |  |   | $ | 162 |  |   | 11% |   | $ | 654 |  |   | $ | 566 |  |   | 16% |   |
|   | Operating margin | 30.0 | % |   | 30.7 | % |   | (70)bps |   | 30.0 | % |   | 29.7 | % |   | 30bps |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|         |                                                                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Tactical orders grew 23% driven by broad-based U.S. and international modernization initiatives and continued expansion into airborne adjacencies. Key awards included: |

|         |                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------|
| ▪ | 850 HMS Manpack radios, the second low rate production order under the U.S. Army's $12.7 billion HMS Manpack IDIQ |

|         |                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------|
| ▪ | $54 million order to provide handheld and manpack radios in support of a force modernization program in western Europe |

|         |                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | $51 million order to provide multi-channel manpacks, next-generation HF and Falcon III handheld radios to a central European nation supporting increased interoperability between U.S. and NATO forces |

|         |                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------|
| ▪ | $19 million initial order from Australia to provide next-generation HF radios as part of a multi-year modernization program |

|         |                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | $24 million prototype phase award for airborne HF radios supporting U.S. Air Force fleet modernization and expanding the company's position on airborne platforms |

|         |                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Public Safety orders grew 30% on increased demand from state and federal agencies, including a $51 million order to upgrade public safety infrastructure for the Utah Communications Authority and a $26 million order from the U.S. Army National Guard as it continues to adopt the company's converged radios. |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | ($ millions) | Fourth Quarter |   | Full Year |   |
|   |   | FY 2019 |   | FY 2018 |   | Change |   | FY 2019 |   | FY 2018 |   | Change |   |
|   | Revenue | $ | 728 |  |   | $ | 636 |  |   | 14% |   | $ | 2,583 |  |   | $ | 2,365 |  |   | 9% |   |
|   | Operating income | $ | 144 |  |   | $ | 118 |  |   | 22% |   | $ | 499 |  |   | $ | 432 |  |   | 16% |   |
|   | Operating margin | 19.8 | % |   | 18.6 | % |   | 120bps |   | 19.3 | % |   | 18.3 | % |   | 100bps |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | ($ millions) | Fourth Quarter |   | Full Year |   |
|   |   | FY 2019 |   | FY 2018 |   | Change |   | FY 2019 |   | FY 2018 |   | Change |   |
|   | Revenue | $ | 542 |  |   | $ | 503 |  |   | 8% |   | $ | 2,057 |  |   | $ | 1,913 |  |   | 8% |   |
|   | Operating income | $ | 94 |  |   | $ | 81 |  |   | 16% |   | $ | 359 |  |   | $ | 331 |  |   | 8% |   |
|   | Operating margin | 17.3 | % |   | 16.1 | % |   | 120bps |   | 17.5 | % |   | 17.3 | % |   | 20bps |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | ($ millions) | Fourth Quarter |   | Full Year |   |
|   |   | FY 2019 |   | FY 2018 |   | Change |   | FY 2019 |   | FY 2018 |   | Change |   |
|   | Operating cash flow | $ | 311 |  |   | $ | 521 |  |   | $ | (210 | ) |   | $ | 1,185 |  |   | $ | 751 |  |   | $ | 434 |  |   |
|   | Free cash flow4 | $ | 254 |  |   | $ | 464 |  |   | $ | (210 | ) |   | $ | 1,024 |  |   | $ | 615 |  |   | $ | 409 |  |   |
|   | Adjusted free cash flow5 | $ | 267 |  |   | $ | 464 |  |   | $ | (197 | ) |   | $ | 1,055 |  |   | $ | 915 |  |   | $ | 140 |  |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|        |
|--------|
|        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | ($ millions, except per share data) | Second Quarter |   | First Half |   |
|   |   | CY 2019 |   | CY 2018 |   | Change |   | CY 2019 |   | CY 2018 |   | Change |   |
|   | Orders | $ | 4,335 |  |   | $ | 4,612 |  |   | (6%) |   | $ | 9,478 |  |   | $ | 9,001 |  |   | 5% |   |
|   | Revenue | $ | 4,448 |  |   | $ | 4,164 |  |   | 7% |   | $ | 8,834 |  |   | $ | 8,012 |  |   | 10% |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | (Unadjusted amounts comparison) |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Net income | $ | 482 |  |   | $ | 592 |  |   | (19%) |   | $ | 948 |  |   | $ | 996 |  |   | (5%) |   |
|   | Net income margin | 10.8 | % |   | 14.2 | % |   | (340)bps |   | 10.7 | % |   | 12.4 | % |   | (170)bps |   |
|   | Earnings per share | $ | 2.12 |  |   | $ | 1.75 |  |   | 21% |   | $ | 4.17 |  |   | $ | 3.46 |  |   | 21% |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | (Adjusted amounts comparison)6 |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Adjusted EBIT | $ | 723 |  |   | $ | 621 |  |   | 16% |   | $ | 1,394 |  |   | $ | 1,190 |  |   | 17% |   |
|   | Adjusted EBIT margin | 16.3 | % |   | 14.9 | % |   | 140bps |   | 15.8 | % |   | 14.9 | % |   | 90bps |   |
|   | Earnings per share | $ | 2.42 |  |   | $ | 1.89 |  |   | 28% |   | $ | 4.65 |  |   | $ | 3.65 |  |   | 27% |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|         |                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------|
| • | Revenue in a range of $9.2 - $9.3 billion, up 9.5% - 10.5% from second half calendar 20187  |

|         |                                                                                        |
|---------|----------------------------------------------------------------------------------------|
| • | GAAP EPS in a range of $2.31 - $2.41 and non-GAAP8 EPS in a range of $4.95 - $5.05 |

|         |                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------|
| • | Operating cash flow in a range of $1.07 - $1.12 billion; adjusted free cash flow9 in a range of $1.30 - $1.35 billion |

|         |                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------|
| • | Revenue in a range of $18.0 - $18.1 billion, up 9.5% - 10.5% from full year calendar 20187  |

|         |                                                                                        |
|---------|----------------------------------------------------------------------------------------|
| • | GAAP EPS in a range of $6.35 - $6.45 and non-GAAP8 EPS in a range of $9.60 - $9.70 |

|         |                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------|
| • | Operating cash flow in a range of $2.26 - $2.31 billion; adjusted free cash flow9 in a range of $2.30 - $2.35 billion |

----

----

----

|                                                       |
|-------------------------------------------------------|
|                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                  | Quarter Ended |   | Fiscal Year Ended |
|                                                  | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
|                                                  |   |   |   |   |   |   |   |
|                                                  | (In millions, except per share amounts) |
| Revenue from product sales and services               | $ | 1,865 |  |   | $ | 1,661 |  |   | $ | 6,801 |  |   | $ | 6,168 |  |
| Cost of product sales and services                    | (1,223 | ) |   | (1,097 | ) |   | (4,467 | ) |   | (4,066 | ) |
| Engineering, selling and administrative expenses      | (349 | ) |   | (292 | ) |   | (1,242 | ) |   | (1,182 | ) |
| Non-operating income                                  | 48 |  |   | 20 |  |   | 188 |  |   | 156 |  |
| Interest income                                       | — |  |   | 1 |  |   | 2 |  |   | 2 |  |
| Interest expense                                      | (39 | ) |   | (46 | ) |   | (169 | ) |   | (170 | ) |
| Income from continuing operations before income taxes | 302 |  |   | 247 |  |   | 1,113 |  |   | 908 |  |
| Income taxes                                          | (33 | ) |   | (39 | ) |   | (160 | ) |   | (206 | ) |
| Income from continuing operations                     | 269 |  |   | 208 |  |   | 953 |  |   | 702 |  |
| Discontinued operations, net of income taxes          | (1 | ) |   | 5 |  |   | (4 | ) |   | (3 | ) |
| Net income                                            | $ | 268 |  |   | $ | 213 |  |   | $ | 949 |  |   | $ | 699 |  |
|                                                  |  |  |   |  |  |   |  |  |   |  |  |
| Net income per common share                           |   |   |   |   |   |   |   |
| Basic                                                 |   |   |   |   |   |   |   |
| Continuing operations                                 | $ | 2.26 |  |   | $ | 1.76 |  |   | $ | 8.06 |  |   | $ | 5.90 |  |
| Discontinued operations                               | — |  |   | 0.04 |  |   | (0.03 | ) |   | (0.02 | ) |
|                                                  | $ | 2.26 |  |   | $ | 1.80 |  |   | $ | 8.03 |  |   | $ | 5.88 |  |
| Diluted                                               |  |  |   |  |  |   |  |  |   |  |  |
| Continuing operations                                 | $ | 2.21 |  |   | $ | 1.72 |  |   | $ | 7.89 |  |   | $ | 5.78 |  |
| Discontinued operations                               | (0.01 | ) |   | 0.04 |  |   | (0.03 | ) |   | (0.02 | ) |
|                                                  | $ | 2.20 |  |   | $ | 1.76 |  |   | $ | 7.86 |  |   | $ | 5.76 |  |
|                                                  |  |  |   |  |  |   |  |  |   |  |  |
| Basic weighted average common shares outstanding      | 118.3 |  |   | 118.5 |  |   | 118.0 |  |   | 118.6 |  |
| Diluted weighted average common shares outstanding    | 121.1 |  |   | 121.3 |  |   | 120.5 |  |   | 121.1 |  |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | Quarter Ended |   | Fiscal Year Ended |
|                                                     | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
|                                                     |   |   |   |   |   |   |   |
|                                                     | (In millions) |
| Revenue                                                  |   |   |   |   |   |   |   |
| Communication Systems                                    | $ | 600 |  |   | $ | 527 |  |   | $ | 2,177 |  |   | $ | 1,904 |  |
| Electronic Systems                                       | 728 |  |   | 636 |  |   | 2,583 |  |   | 2,365 |  |
| Space and Intelligence Systems                           | 542 |  |   | 503 |  |   | 2,057 |  |   | 1,913 |  |
| Corporate eliminations                                   | (5 | ) |   | (5 | ) |   | (16 | ) |   | (14 | ) |
|                                                     | $ | 1,865 |  |   | $ | 1,661 |  |   | $ | 6,801 |  |   | $ | 6,168 |  |
| Income From Continuing Operations Before Income Taxes    |
| Segment Operating Income:                                |   |   |   |   |   |   |   |
| Communication Systems                                    | $ | 180 |  |   | $ | 162 |  |   | $ | 654 |  |   | $ | 566 |  |
| Electronic Systems                                       | 144 |  |   | 118 |  |   | 499 |  |   | 432 |  |
| Space and Intelligence Systems                           | 94 |  |   | 81 |  |   | 359 |  |   | 331 |  |
| Unallocated corporate expense and corporate eliminations | (79 | ) |   | (43 | ) |   | (234 | ) |   | (225 | ) |
| Pension adjustment                                       | (46 | ) |   | (46 | ) |   | (186 | ) |   | (184 | ) |
| Non-operating income                                     | 48 |  |   | 20 |  |   | 188 |  |   | 156 |  |
| Net interest expense                                     | (39 | ) |   | (45 | ) |   | (167 | ) |   | (168 | ) |
|                                                     | $ | 302 |  |   | $ | 247 |  |   | $ | 1,113 |  |   | $ | 908 |  |

----

|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |
|                                                                              | Fiscal Year Ended |
|                                                                              | June 28, 2019 |   | June 29, 2018 |
|                                                                              |   |   |   |
|                                                                              | (In millions) |
| Operating Activities                                                              |   |   |   |
| Net income                                                                        | $ | 949 |  |   | $ | 699 |  |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |   |   |
| Amortization of acquisition-related intangibles                                   | 115 |  |   | 117 |  |
| Other depreciation and amortization                                               | 143 |  |   | 142 |  |
| Qualified pension plan contributions                                              | (1 | ) |   | (301 | ) |
| Pension income and share-based compensation                                       | 5 |  |   | (53 | ) |
| Loss on extinguishment of debt                                                    | — |  |   | 24 |  |
| (Increase) decrease in:                                                           |   |   |   |
| Accounts receivable                                                               | (9 | ) |   | (101 | ) |
| Contract assets                                                                   | (25 | ) |   | (76 | ) |
| Inventories                                                                       | (1 | ) |   | (19 | ) |
| Increase (decrease) in:                                                           |   |   |   |
| Accounts payable                                                                  | (84 | ) |   | 82 |  |
| Contract liabilities                                                              | 124 |  |   | 81 |  |
| Other                                                                             | (31 | ) |   | 156 |  |
| Net cash provided by operating activities                                         | 1,185 |  |   | 751 |  |
| Investing Activities                                                              |  |  |   |  |  |
| Net additions of property, plant and equipment                                    | (161 | ) |   | (136 | ) |
| Adjustment to proceeds from sale of business                                      | — |  |   | (2 | ) |
| Other investing activities                                                        | 2 |  |   | (3 | ) |
| Net cash used in investing activities                                             | (159 | ) |   | (141 | ) |
| Financing Activities                                                              |  |  |   |  |  |
| Net proceeds from borrowings                                                      | 27 |  |   | 1,387 |  |
| Repayments of borrowings                                                          | (308 | ) |   | (1,658 | ) |
| Proceeds from exercises of employee stock options                                 | 50 |  |   | 34 |  |
| Repurchases of common stock                                                       | (200 | ) |   | (272 | ) |
| Cash dividends                                                                    | (325 | ) |   | (272 | ) |
| Other financing activities                                                        | (25 | ) |   | (24 | ) |
| Net cash used in financing activities                                             | (781 | ) |   | (805 | ) |
| Effect of exchange rate changes on cash and cash equivalents                      | (3 | ) |   | (1 | ) |
| Net increase (decrease) in cash and cash equivalents                              | 242 |  |   | (196 | ) |
| Cash and cash equivalents, beginning of year                                      | 288 |  |   | 484 |  |
| Cash and cash equivalents, end of year                                            | $ | 530 |  |   | $ | 288 |  |

----

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |
|                                   | June 28, 2019 |   | June 29, 2018 |
|                                   |   |   |   |
|                                   | (In millions) |
| Assets                                 |   |   |   |
| Cash and cash equivalents              | $ | 530 |  |   | $ | 288 |  |
| Receivables                            | 457 |  |   | 466 |  |
| Contract assets                        | 807 |  |   | 782 |  |
| Inventories                            | 360 |  |   | 411 |  |
| Property, plant and equipment          | 894 |  |   | 900 |  |
| Goodwill                               | 5,340 |  |   | 5,372 |  |
| Other intangible assets                | 870 |  |   | 989 |  |
| Other assets                           | 859 |  |   | 643 |  |
|                                   | $ | 10,117 |  |   | $ | 9,851 |  |
|                                   |   |   |   |
| Liabilities                            |  |   |  |
| Short-term debt                        | $ | 103 |  |   | $ | 78 |  |
| Accounts payable                       | 525 |  |   | 622 |  |
| Contract liabilities                   | 496 |  |   | 372 |  |
| Compensation and benefits              | 161 |  |   | 142 |  |
| Current portion of long-term debt, net | 656 |  |   | 304 |  |
| Defined benefit plans                  | 1,174 |  |   | 714 |  |
| Long-term debt, net                    | 2,763 |  |   | 3,408 |  |
| Other liabilities                      | 876 |  |   | 933 |  |
| Equity                                 | 3,363 |  |   | 3,278 |  |
|                                   | $ | 10,117 |  |   | $ | 9,851 |  |

----

----

|                                                                                                  |
|--------------------------------------------------------------------------------------------------|
|                                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                             | Quarter Ended |   | Fiscal Year Ended |
|                                                                                             | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
|                                                                                             |   |   |   |   |   |   |   |
|                                                                                             | (In millions) |
| Revenue from product sales and services (B)                                                      | $ | 1,865 |  |   | $ | 1,661 |  |   | $ | 6,801 |  |   | $ | 6,168 |  |
|                                                                                             |   |   |   |   |   |   |   |
| Net income                                                                                       | $ | 268 |  |   | $ | 213 |  |   | $ | 949 |  |   | $ | 699 |  |
| Adjustments:                                                                                     |   |   |   |   |   |   |   |
| Net interest expense                                                                             | 39 |  |   | 45 |  |   | 167 |  |   | 168 |  |
| Income taxes                                                                                     | 33 |  |   | 39 |  |   | 160 |  |   | 206 |  |
| Discontinued operations, net of income taxes                                                     | 1 |  |   | (5 | ) |   | 4 |  |   | 3 |  |
| L3 deal and integration costs                                                                    | 36 |  |   | — |  |   | 65 |  |   | — |  |
| Charge related to consolidation of certain Exelis facilities                                     | — |  |   | 5 |  |   | — |  |   | 5 |  |
| Losses related to debt refinancing                                                               | — |  |   | 26 |  |   | — |  |   | 26 |  |
| Charges related to decision to transition and exit a commercial line of business and other items | — |  |   | — |  |   | — |  |   | 47 |  |
| One-time non-cash charge from an adjustment for deferred compensation                            | — |  |   | — |  |   | — |  |   | 12 |  |
| Total adjustments                                                                                | 109 |  |   | 110 |  |   | 396 |  |   | 467 |  |
| Adjusted EBIT (A)                                                                                | $ | 377 |  |   | $ | 323 |  |   | $ | 1,345 |  |   | $ | 1,166 |  |
|                                                                                             |  |   |  |   |  |   |  |
| Adjusted EBIT margin percentage (A) / (B)                                                        | 20.2 | % |   | 19.4 | % |   | 19.8 | % |   | 18.9 | % |

----

|                                                                                                  |
|--------------------------------------------------------------------------------------------------|
|                                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                             | Quarter Ended |   | Fiscal Year Ended |
|                                                                                             | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
| GAAP income from continuing operations per diluted common share                                  | $ | 2.21 |  |   | $ | 1.72 |  |   | $ | 7.89 |  |   | $ | 5.78 |  |
| Adjustments:                                                                                     |   |   |   |   |   |   |   |
| L3 deal and integration costs                                                                    | 0.30 |  |   | — |  |   | 0.54 |  |   | — |  |
| Charge related to consolidation of certain Exelis facilities                                     | — |  |   | 0.05 |  |   | — |  |   | 0.05 |  |
| Losses related to debt refinancing                                                               | — |  |   | 0.22 |  |   | — |  |   | 0.22 |  |
| Charges related to decision to transition and exit a commercial line of business and other items | — |  |   | — |  |   | — |  |   | 0.39 |  |
| One-time non-cash charge from an adjustment for deferred compensation                            | — |  |   | — |  |   | — |  |   | 0.10 |  |
| Total pre-tax adjustments                                                                        | 0.30 |  |   | 0.27 |  |   | 0.54 |  |   | 0.76 |  |
| Income taxes on above adjustments                                                                | (0.07 | ) |   | (0.08 | ) |   | (0.14 | ) |   | (0.21 | ) |
| Impact of non-cash adjustments related to tax reform                                             | — |  |   | (0.15 | ) |   | — |  |   | 0.06 |  |
| Total adjustments after-tax                                                                      | 0.23 |  |   | 0.04 |  |   | 0.40 |  |   | 0.61 |  |
| Non-GAAP income from continuing operations per diluted common share                              | $ | 2.44 |  |   | $ | 1.76 |  |   | $ | 8.29 |  |   | $ | 6.39 |  |
|                                                                                             |  |   |  |   |  |   |  |

|                                                                     |
|---------------------------------------------------------------------|
|                                                                     |  |  |  |
|                                                                | Guidance |
|                                                                | Two Quarters Ended  January 3, 2020 |   | Four Quarters Ended January 3, 2020 |
| GAAP income from continuing operations per diluted common share     | $2.31 to $2.41 |   | $6.35 to $6.45 |
| Adjustments:                                                        |   |   |   |
| Amortization of acquisition-related intangibles                     | ~ 1.05 |   | ~ 1.22 |
| Amortization of a step-up in the opening balance of L3 inventory    | ~ 0.56 |   | ~ 0.55 |
| L3 deal and integration costs                                       | ~ 1.03 |   | ~ 1.48 |
| Non-GAAP income from continuing operations per diluted common share | $4.95 to $5.05 |   | $9.60 to $9.70 |

----

|                                                                  |
|------------------------------------------------------------------|
|                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                             | Quarter Ended |   | Fiscal Year Ended |
|                                                             | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
|                                                             |   |   |   |   |   |   |   |
|                                                             | (In millions) |
| Net cash provided by operating activities                        | $ | 311 |  |   | $ | 521 |  |   | $ | 1,185 |  |   | $ | 751 |  |
| Less capital expenditures                                        | (57 | ) |   | (57 | ) |   | (161 | ) |   | (136 | ) |
| Free cash flow                                                   | 254 |  |   | 464 |  |   | 1,024 |  |   | 615 |  |
| Adjustment for voluntary contribution to qualified pension plans | — |  |   | — |  |   | — |  |   | 300 |  |
| Cash used for L3 deal and integration costs                      | 13 |  |   | — |  |   | 31 |  |   | — |  |
| Adjusted free cash flow                                          | $ | 267 |  |   | $ | 464 |  |   | $ | 1,055 |  |   | $ | 915 |  |

|                                                                                |
|--------------------------------------------------------------------------------|
|                                                                                |  |  |  |
|                                                                           | Guidance |
|                                                                           | Two Quarters Ended  January 3, 2020 |   | Four Quarters Ended January 3, 2020 |
| Net cash provided by operating activities                                      | $1,070 to $1,120 |   | $2,255 to $2,305 |
| Less capital expenditures                                                      | ~ (190) |   | ~ (380) |
| Free cash flow                                                                 | 880 to 930 |   | 1,875 to 1,925 |
| Less net cash provided by operating activities from L3 discontinued operations | — |   |  ~ (19) |
| Cash used for L3 integration costs                                             | ~ 140 |   | ~ 162 |
| Cash used for transaction and other costs related to our merger with L3        | ~ 95 |   | ~ 97 |
| Cash used for change-in-control payments under certain benefit arrangements    | ~ 185 |   | ~ 185 |
| Adjusted free cash flow                                                        | $1,300 to $1,350 |   | $2,300 to $2,350 |

----

|                                                                                                  |
|--------------------------------------------------------------------------------------------------|
|                                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                             | Quarter Ended |   | Two Quarters Ended |
|                                                                                             | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
|                                                                                             |   |   |   |   |   |   |   |
|                                                                                             | (In millions) |
| Revenue from product sales and services — Harris                                           | $ | 1,865 |  |   | $ | 1,661 |  |   | $ | 3,593 |  |   | $ | 3,223 |  |
| Revenue from product sales and services — L3                                               | 2,631 |  |   | 2,583 |  |   | 5,331 |  |   | 4,954 |  |
| Less revenue generated by Night Vision — Harris (2)                                        | (44 | ) |   | (36 | ) |   | (79 | ) |   | (80 | ) |
| Less revenue generated by divested businesses — L3 (3)                                     | — |  |   | (36 | ) |   | (2 | ) |   | (72 | ) |
| Intracompany eliminations                                                                        | (4 | ) |   | (8 | ) |   | (9 | ) |   | (13 | ) |
| Revenue from product sales and services — Combined (B)                                     | $ | 4,448 |  |   | $ | 4,164 |  |   | $ | 8,834 |  |   | $ | 8,012 |  |
|                                                                                             |   |   |   |   |   |   |   |
| Net income — Harris                                                                        | $ | 268 |  |   | $ | 213 |  |   | $ | 511 |  |   | $ | 409 |  |
| Net income — L3                                                                            | 214 |  |   | 379 |  |   | 437 |  |   | 587 |  |
| Net income — Combined                                                                      | 482 |  |   | 592 |  |   | 948 |  |   | 996 |  |
| Adjustments:                                                                                     |   |   |   |   |   |   |   |
| Discontinued operations, net of income taxes (4)                                                 | 1 |  |   | (195 | ) |   | 1 |  |   | (209 | ) |
| Net interest expense (4)                                                                         | 73 |  |   | 85 |  |   | 147 |  |   | 163 |  |
| Income taxes (4)                                                                                 | 83 |  |   | 87 |  |   | 160 |  |   | 121 |  |
| Night Vision (2)                                                                                 | (7 | ) |   | (5 | ) |   | (14 | ) |   | (11 | ) |
| Operating loss generated by divested businesses — L3 (3)                                   | — |  |   | 1 |  |   | 2 |  |   | 1 |  |
| Merger, integration and divestiture expenses and losses (4)                                      | 63 |  |   | — |  |   | 97 |  |   | — |  |
| Amortization of intangibles from Exelis Inc. acquisition                                         | 25 |  |   | 25 |  |   | 50 |  |   | 51 |  |
| Charge related to consolidation of certain Exelis facilities                                     | — |  |   | 5 |  |   | — |  |   | 5 |  |
| Losses related to debt refinancing (4)                                                           | 3 |  |   | 74 |  |   | 3 |  |   | 74 |  |
| Charges related to decision to transition and exit a commercial line of business and other items | — |  |   | — |  |   | — |  |   | 47 |  |
| Gain on the sale of the Crestview and TCS businesses                                             | — |  |   | (48 | ) |   | — |  |   | (48 | ) |
| Total adjustments                                                                                | 241 |  |   | 29 |  |   | 446 |  |   | 194 |  |
| Adjusted EBIT (A)                                                                                | $ | 723 |  |   | $ | 621 |  |   | $ | 1,394 |  |   | $ | 1,190 |  |
|                                                                                             |  |   |  |   |  |   |  |
| Adjusted EBIT margin percentage (A) / (B)                                                        | 16.3 | % |   | 14.9 | % |   | 15.8 | % |   | 14.9 | % |

----

|                                                                                                  |
|--------------------------------------------------------------------------------------------------|
|                                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                             | Quarter Ended |   | Two Quarters Ended |
|                                                                                             | June 28, 2019 |   | June 29, 2018 |   | June 28, 2019 |   | June 29, 2018 |
|                                                                                             |   |   |   |   |   |   |   |
|                                                                                             | (In millions, except per share amounts) |
| Income from continuing operations — Harris                                                 | $ | 269 |  |   | $ | 208 |  |   | $ | 512 |  |   | $ | 406 |  |
| Income from continuing operations — L3                                                     | 214 |  |   | 189 |  |   | 437 |  |   | 381 |  |
| Noncontrolling interest — L3                                                               | (6 | ) |   | (4 | ) |   | (12 | ) |   | (9 | ) |
| Income from continuing operations — Combined (A)                                           | $ | 477 |  |   | $ | 393 |  |   | $ | 937 |  |   | $ | 778 |  |
|                                                                                             |   |   |   |   |   |   |   |
| Diluted weighted average common shares outstanding — L3                                    | 80.1 |  |   | 79.4 |  |   | 80.0 |  |   | 79.6 |  |
| x   Exchange Ratio                                                                               | 1.3 |  |   | 1.3 |  |   | 1.3 |  |   | 1.3 |  |
|                                                                                             | 104.1 |  |   | 103.2 |  |   | 104.0 |  |   | 103.5 |  |
| Diluted weighted average common shares outstanding — Harris                                | 121.1 |  |   | 121.3 |  |   | 120.7 |  |   | 121.2 |  |
| Diluted weighted average common shares outstanding — Combined (B)                          | 225.2 |  |   | 224.5 |  |   | 224.7 |  |   | 224.7 |  |
|                                                                                             |   |   |   |   |   |   |   |
| Income from continuing operations per diluted common share (A) / (B)                             | $ | 2.12 |  |   | $ | 1.75 |  |   | $ | 4.17 |  |   | $ | 3.46 |  |
| Adjustments:                                                                                     |   |   |   |   |   |   |   |
| Net operating income generated by Night Vision — Harris (2)                                | (0.02 | ) |   | (0.01 | ) |   | (0.04 | ) |   | (0.03 | ) |
| Net operating loss generated by divested businesses — L3 (3)                               | — |  |   | — |  |   | 0.01 |  |   | 0.01 |  |
| Merger, integration and divestiture expenses and losses (4)                                      | 0.28 |  |   | — |  |   | 0.43 |  |   | — |  |
| Amortization of intangibles from Exelis Inc. acquisition                                         | 0.11 |  |   | 0.11 |  |   | 0.22 |  |   | 0.22 |  |
| Charge related to consolidation of certain Exelis facilities                                     | — |  |   | 0.03 |  |   | — |  |   | 0.02 |  |
| Losses and other costs related to debt refinancing (4)                                           | 0.01 |  |   | 0.33 |  |   | 0.01 |  |   | 0.33 |  |
| Charges related to decision to transition and exit a commercial line of business and other items | — |  |   | — |  |   | — |  |   | 0.21 |  |
| Gain on the sale of the Crestview and TCS businesses                                             | — |  |   | (0.21 | ) |   | — |  |   | (0.21 | ) |
| Total pre-tax adjustments                                                                        | 0.38 |  |   | 0.25 |  |   | 0.63 |  |   | 0.55 |  |
| Income taxes on above adjustments                                                                | (0.08 | ) |   | (0.03 | ) |   | (0.15 | ) |   | (0.13 | ) |
| Impact of non-cash adjustments related to tax reform                                             | — |  |   | (0.08 | ) |   | — |  |   | (0.23 | ) |
| Total adjustments after-tax                                                                      | 0.30 |  |   | 0.14 |  |   | 0.48 |  |   | 0.19 |  |
| Adjusted income from continuing operations per diluted common share                              | $ | 2.42 |  |   | $ | 1.89 |  |   | $ | 4.65 |  |   | $ | 3.65 |  |

----

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |
|                                                         | Two Quarters Ended |   | Calendar Year Ended |
|                                                         | December 28, 2018 |   | December 28, 2018 |
|                                                         |   |   |   |
|                                                         | (In millions) |
| Revenue from product sales and services — Harris       | $ | 3,208 |  |   | $ | 6,431 |  |
| Revenue from product sales and services — L3           | 5,290 |  |   | 10,244 |  |
| Less revenue generated by Night Vision — Harris (2)    | (86 | ) |   | (166 | ) |
| Less revenue generated by divested businesses — L3 (3) | (12 | ) |   | (84 | ) |
| Intracompany eliminations                                    | (8 | ) |   | (21 | ) |
| Revenue from product sales and services — Combined     | $ | 8,392 |  |   | $ | 16,404 |  |