Slide 1: First Quarter 2026 Results
First Quarter 2026 Results GO TOWARDS TOMORROW go V2X NOTE: The appearance of U.S. Department of Defense (DoW) visual information does not imply or constitute DoW endorsement. GO TOWARDS TOMORROW go V2X
Slide 2: Disclaimers
Disclaimers FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), Section 27A of the Securities Act of 1933, as amended (the Securities Act), and the Private Securities
Slide 3: Key Takeaways
Key Takeaways Strong start to Robust bookings1 Progressing Significant balance Increasing full year FY’26 with double of $4.1 billion in Q1 Go Towards sheet capacity to 2026 guidance digit year-over-year reflect continued Tomorrow strategy enable organic and reflecting momentum revenue growth, award
Slide 4: Delivering a Strong Start to 2026
Delivering a Strong Start to 2026 Q1 2026 Q1 Highlights APPROX. 50 AWARDS ~$4.1 BILLION AWARD VALUE REVENUE $1.25B +23% Y/Y Modernization: Awards to modernize critical components of the F/A-18 aircraft and NET INCOME $18.9M to integrate advanced infrared countermeasures on the KC-130J Global Trainin
Slide 5: Significant Backlog Expansion with Robust Pipeline of Opportunities
Significant Backlog1 Expansion with Robust Pipeline of Opportunities Total book-to-bill1 Total backlog1 of On track to achieve BACKLOG1 ($B) in the quarter of $13.8B a 30% year-over- 3.2x year increase in Funded backlog1 bid velocity Trailing twelve- of $2.3B month book-to- bill1 of 1.5x $13.8 $11.1
Slide 6: Accelerating Innovation to Deliver Differentiated Customer Outcomes
Accelerating Innovation to Deliver Differentiated Customer Outcomes Case Study: Working on an Strengthening Operational Efficiency by Targeted Investments Creating Customer Value: AI-enabled prototype Innovating Across the Base, At Scale Partnering to Deliver Predictive Readiness at Scale for Aviati
Slide 7: Solid Financial Performance Across Key Metrics
Solid Financial Performance Across Key Metrics REVENUE ($M) ADJ. EBITDA1 ($M) NET INCOME ($M) $1,254 $86 $19 $1,016 $67 $8 Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 EPS ADJ. DILUTED EPS1 ADJ. OCF1 ($M) $(22) $(118) $0.60 $1.53 $0.25 $0.98 Q1'25 Q1'26 Q1'25 Q1'26 Q1'25 Q1'26 1.SEE APPENDIX FOR RECONCILIATI
Slide 8: Balance Sheet Capacity Enables Investments in Growth
Balance Sheet Capacity Enables Investments in Growth In 2026, we expect… Focused on delivering value for customers and shareholders through organic and inorganic growth investments that: • Accelerate innovation strategy In 2026, Strongwecash expect… Providing • Expand capabilities, domains, and cust
Slide 9: Increasing 2026 Outlook
Increasing 2026 Outlook PRIOR 2026 UPDATED 2026 GUIDANCE RANGE GUIDANCE RANGE 2026 Guidance Assumptions Include: ($M, except per share data) REVENUE $4,675 – $4,825 $4,825 – $4,975 • Cash interest expense of ~$69 million and other expense of ~$15 million • Depreciation and amortization of ~$112 ADJU
Slide 10: Key Takeaways
Key Takeaways Strong start to Robust bookings1 Progressing Significant balance Increasing full year FY’26 with double of $4.1 billion in Q1 Go Towards sheet capacity to 2026 guidance digit year-over-year reflect continued Tomorrow strategy enable organic and reflecting momentum revenue growth, award
Slide 11: Appendix
GO TOWARDS TOMORROW APPENDIX go V2X GO TOWARDS TOMORROW go V2X 11
Slide 12: Key Performance Indicators and Non-GAAP Measures
Key Performance Indicators and Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including adjusted net income, • Adjusted net income is defined as net income, adjusted to exclude items that may include, but adjusted diluted earnings per share, adjusted operating inco
Slide 13: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K, except per share data) Three Months Ended April 3, 2026 March 28, 2025 Revenue $ 1,254,128 $ 1,015,923 Net income $ 18,925 $ 8,107 Plus: Income tax expense 4,594 1,963 Other expense, net 2,446 2,295 Interest expense, net 18,125 19,719 Loss on extinguishment o
Slide 14: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures Period Ending ($K) TTM April 3, 2026 ($K, except ratio) April 3, 2026 Net income $ 88,700 Total debt $ $1,100,085 Plus: Cash, cash equivalents and restricted cash $ 208,666 78,316 Interest expense, net Less: Income tax expense 25,652 Restricted cash (4,014) Cash a
Slide 15: Reconciliation Of Non-GAAP Measures
Reconciliation Of Non-GAAP Measures ($K) Three Months Ended April 3, 2026 March 28, 2025 Net cash used by operating activities $ (129,910) $ (95,464) Plus: M&A, integration, and related payments 2,206 3,008 MARPA facility activity 105,628 (25,617) Adjusted operating cash flow $ (22,076) $ (118,073)
Slide 16: Go Towards Tomorrow
G O T O W A R D S T O M O R R O W g o V 2 X GO TOWARDS TOMORROW go V2X