Page 1

Change in key measure of operational profitability to Underlying EBIT as set out in the 2020 Preliminary Announcement March 2021 baesystems.com Cautionary statement : All statements other than statements of historical fact included in this document , including , without limitation , those regarding the financial condition , results , operations and businesses of BAE Systems and its strategy , plans and objectives and the markets and economies in which it operates , are forward - looking statements . Such forward - looking statements , which reflect management's assumptions made on the basis of information available to it at this time , involve known and unknown risks , uncertainties and other important factors which could cause the actual results , performance or achievements of BAE Systems or the markets and economies in which BAE Systems operates to be materially different from future results , performance or achievements expressed or implied by such forward - looking statements . BAE Systems plc and its directors accept no liability to third parties in respect of this report save as would arise under English law . Accordingly , any liability to a person who has demonstrated reliance on any untrue or misleading statement or omission shall be determined in accordance with Schedule 10A of the Financial Services and Markets Act 2000. It should be noted that Schedule 10A and Section 463 of the Companies Act 2006 contain limits on the liability of the directors of BAE Systems plc so that their liability is solely to BAE Systems plc . © 2021 BAE Systems . All rights reserved BAE SYSTEMS