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Earnings Presentation Q2 2025 Results | August 7, 2025
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Safe Harbor A number of forward-looking statements will be made during this presentation. Forward-looking statements are any statements that are not historical facts. These forward-looking statements are based on the current expectations of Motorola Solutions, and we can give no assurance that any future results or events discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. Forward-looking statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this presentation. Risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements include, without limitation: (i) impact of current global economic and political conditions in the markets in which we operate (including, but not limited to, with respect to tariffs); (ii) increased areas of risk, increased competition and additional compliance obligations associated with the introduction of new or enhanced products and services in our segments; (iii) impact of catastrophic events on our business or our customers' or suppliers' business; (iv) social, ethical, environmental and competitive risks relating to the use of artificial intelligence ("AI") in our products and services; (v) the effectiveness of our strategic acquisitions, including the integrations of such acquired businesses and the resulting impact on our financial results and operations; (vi) the inability of our products to meet our customers’ expectations or regulatory or industry standards; (vii) our inability to purchase a sufficient amount of materials, parts, and components, as well as software and services, at acceptable prices to meet the demands of our customers, and any disruption to our suppliers or significant increase in the price of supplies; (viii) risks related to our large, multi-year system and services contracts; (ix) the global nature of our employees, customers, suppliers and outsource partners; (x) our use of third-parties to develop, design and/or manufacture many of our components and some of our products, and to perform portions of our business operations; (xi) the inability of our subcontractors to perform in a timely and compliant manner or adhere to our Human Rights Policy; (xii) increasing scrutiny and evolving expectations from investors, customers, lawmakers, regulators and other stakeholders regarding environmental, social and governance (“ESG”) related practices and disclosures, as well as recent U.S. based anti-ESG efforts; (xiii) challenges relating to existing or future legislation and regulations pertaining to AI, AI-enabled products and the use of biometrics and other video analytics; (xiv) the impact, including increased costs and potential liabilities, associated with changes in laws and regulations regarding cybersecurity, privacy, data protection, and information security; (xv) the impact of government regulation of radio frequencies; (xvi) regulations, laws and other compliance requirements applicable to our U.S. government customer contracts and grants; (xvii) the impact, including increased costs and additional compliance obligations, associated with existing or future telecommunications-related laws and regulations; (xviii) impact of product regulatory and safety, consumer, worker safety and environmental product compliance and remediation laws; (xix) the evolving state of environmental regulation relating to climate change, and the physical risks of climate change; (xx) impact of tax matters; (xxi) increased cybersecurity threats, a security breach or other significant disruption of our IT systems or those of our outsource partners, suppliers or customers; (xxii) our inability to protect our intellectual property or potential infringement of intellectual property rights of third parties; (xxiii) risks relating to intellectual property licenses and intellectual property indemnities in our customer and supplier contracts; (xxiv) our license of the MOTOROLA, MOTO, MOTOROLA SOLUTIONS and the Stylized M logo and all derivatives and formatives thereof from Motorola Trademark Holdings, LLC; (xxv) inability to attract and retain senior management and key employees; (xxvi) inability to access the capital markets for financing on acceptable terms and conditions; (xxvii) exposure to exchange rate fluctuations on cross-border transactions and the translation of local currency results into U.S. dollars; (xxviii) impact of returns on pension and retirement plan assets and interest rate changes; and (xix) the return of capital to shareholders through dividends and/or repurchasing shares. Motorola Solutions undertakes no obligation to publicly update any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see our reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time available for free on the SEC’s website at www.sec.gov, and on Motorola Solutions’ website at www.motorolasolutions.com/investors This presentation is being made on the 7th day of August, 2025. The content of this presentation contains time-sensitive information that is accurate only as of the time hereof. If any portion of this presentation is rebroadcast, retransmitted or redistributed at a later date, Motorola Solutions will not be reviewing or updating the material that is contained herein. 2
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Highlights Q2 2025 * Non-GAAP measures exclude highlighted items, including share-based compensation expenses and intangible assets amortization expense • Sales of $2.8B, up 5% Y/Y ● Software and Services up 15% ● Products and Systems Integration flat ● Growth in all technologies ■ Land Mobile Radio Communications (“LMR”) up 3% ■ Video Security and Access Control (“Video”) up 10% ■ Command Center up 12% • GAAP EPS of $3.04; Non-GAAP EPS* of $3.57, up 10% Y/Y • GAAP operating margin of 25.0%, up 50 bps Y/Y • Non-GAAP operating margin*of 29.6%, up 80 bps Y/Y • Operating cash flow of $272M, up $92M Y/Y • Ending backlog of $14.1B, up $150M Y/Y driven by record Q2 orders • Repurchased $218M of shares at an average price of $414.42 and paid $182M in dividends • Subsequent to the quarter, acquired Silvus Technologies ("Silvus") for $4.4B in upfront consideration, funded primarily with $2.0B of new long- term notes and $1.5B of new term loans 3
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Financial Results ($M) excluding per share amounts Q2 24 Q2 25 Change Revenue $2,628 $2,765 5% Non-GAAP Operating Earnings* $758 $818 8% Non-GAAP Operating Margin* 28.8% 29.6% 80 bps Non-GAAP Earnings Per Share* $3.24 $3.57 10% * Non-GAAP measures exclude highlighted items, including share-based compensation expenses and intangible assets amortization expense 4
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Cash Flow ($M) Q2 24 Q2 25 Change FY 24 FY 25E Change Operating Cash Flow $180 $272 $92 $2,391 $2,750 $359 Capital Expenditures ($68) ($48) $20 ($257) ($290) ($33) Free Cash Flow** $112 $224 $112 $2,134 $2,460 $326 ** Free Cash Flow is a non-GAAP financial measure and is calculated as Net cash provided by operating activities - Capital Expenditures *FY 25E Operating Cash Flow up from the prior expectation of $2.65 billion, inclusive of ~$75 million of one-time transaction fees related to the close of Silvus. * 5
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Products & SI Non-GAAP Operating Margin %* Revenue ($M) Q2 2025 * Non-GAAP measures exclude highlighted items, including share-based compensation expenses and intangible assets amortization expense $1,658 $1,653 2024 2025 26.8% 26.7% 2024 2025 • Revenue flat versus prior year • Non-GAAP operating margin* comparable to prior year with lower direct material costs, offset by higher tariff costs and investments in Video in the current year • Notable wins and achievements: • $82M P25 system upgrade for a tri-county system in the St. Louis region • $30M P25 device order for the City of Miami, FL • $22M P25 system upgrade for the State of Michigan • $15M fixed video order for a U.S. federal customer • $11M P25 device order for the Las Vegas Metro Police Department 6
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Software & Services • Revenue up 15% driven by strong demand in all three technologies • Non-GAAP operating margin* up 150 bps driven by higher sales and improved operating leverage, partially offset by acquisitions • Notable wins and achievements: • $44M Command Center order for a U.S. state and local customer • $29M P25 system upgrade and LMR services order for the City of Chicago • $12M LMR cybersecurity order for the State of Victoria, Australia • $11M LMR services order for the State of New Mexico • $9M LMR services order for a U.S. federal customer Non-GAAP Operating Margin %* Revenue ($M) Q2 2025 $970 $1,112 2024 2025 32.3% 33.8% 2024 2025 * Non-GAAP measures exclude highlighted items, including share-based compensation expenses and intangible assets amortization expense 7
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($M) Q2 24 Q2 25 Change North America $1,917 $2,027 6% International $711 $738 4% Total $2,628 $2,765 5% Regional Revenue Q2 2025 • North America growth driven by Video, LMR and Command Center • International growth driven by LMR 8
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Backlog Trend ($B) Products & SI Software & Services Q2 2025 $14.0 $14.1 $14.1 $4.3 $3.6 $3.4 $9.7 $10.5 $10.7 Q2 '24 Q1'25 Q2 '25 Software & Services • Y/Y up $1.0B driven by strong demand in all three technologies, partially offset by revenue recognition for the U.K. Home Office • Q/Q up $191M driven by strong demand in all three technologies, partially offset by revenue recognition for the U.K. Home Office • Favorable FX impact of $214M Y/Y and $232M Q/Q Products & Systems Integration • Y/Y down $902M primarily due to strong LMR shipments • Q/Q down $172M primarily due to strong LMR shipments 9
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Outlook (Non-GAAP) Full-Year 2025 Revenue Growth Approx. 7.7% or $11.65B Non-GAAP EPS $14.88 - $14.98 Q3 2025 Revenue Growth Approx. 7% Non-GAAP EPS $3.82 - $3.87 Q3 Details • Effective tax rate of approximately 24% • Fully diluted share count approx. 169M shares Full-Year Details • Effective tax rate of approximately 23% • Fully diluted share count approx. 169M shares Prior Full-Year 2025 Revenue Growth Approx. 5.5% or $11.4B Non-GAAP EPS $14.64 - $14.74 FY outlook now assumes ~$185 million of revenue related to Silvus 10
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*Estimated financial information regarding Silvus for 2025. Adjusted EBITDA is a non-GAAP measure which excludes highlighted items, including share-based compensation expenses and intangible assets amortization expense. Silvus Overview • Adds high-speed mobile ad-hoc network (“MANET”) technology to Motorola Solutions' safety and security ecosystem that enables highly secure data, video and voice communications without the need for fixed infrastructure • Rapid customer adoption for drone and unmanned systems communications; additional use cases in border security and public safety ◦ Customers include defense agencies, autonomous systems manufacturers, the intelligence community, law enforcement and enterprises globally • Strong financial profile* ◦ ~$475M in 2025 revenue ◦ ~45% Adjusted EBITDA margin • Impact on MSI financials ◦ Our "LMR" technology category will be expanded to include Silvus's complementary technology and renamed to “Mission Critical Networks" ◦ ~$185M expected revenue contribution in 2025 ◦ Non-GAAP EPS* neutral for 2025, inclusive of higher interest expense 11 * Estimated financial information regarding Silvus for 2025. Adjusted EBITDA is a non-GAAP measure which excludes highlighted items, including share-based compensation expenses and intangible assets amortization expense
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Q&A Participants Greg Brown Chairman and CEO Jason Winkler Executive Vice President and CFO Tim Yocum Vice President, Investor Relations Jack Molloy Executive Vice President and COO Mahesh Saptharishi Executive Vice President and CTO 12
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Use of Non-GAAP Measures In addition to the results presented in accordance with accounting principles generally accepted in the U.S. ("GAAP") included in this presentation, Motorola Solutions, Inc. (the “Company”) also has included non-GAAP measurements of results, including free cash flow, non-GAAP operating earnings, non-GAAP EPS, non-GAAP operating margin, EBITDA, adjusted EBITDA, Net Debt, and Net Debt to adjusted EBITDA ratio. The Company has provided these non-GAAP measurements to help investors better understand its core operating performance, enhance comparisons of core operating performance from period-to-period and allow better comparisons of its operating performance to that of its competitors. Among other things, management uses these operating results, excluding the identified items, to evaluate the performance of its businesses and to evaluate results relative to certain incentive compensation targets. Management uses operating results excluding these items because it believes these measurements enable it to make better period-to-period evaluations of the financial performance of its core business operations. The non-GAAP measurements are intended only as a supplement to the comparable GAAP measurements and the Company compensates for the limitations inherent in the use of non-GAAP measurements by using GAAP measures in conjunction with the non-GAAP measurements. As a result, investors should consider these non-GAAP measurements in addition to, and not in substitution for or as superior to, GAAP measurements. Details of these items and reconciliations of the non-GAAP measurements provided during this presentation to GAAP measurements can be found later in this presentation and on Motorola Solutions’ website at investors.motorolasolutions.com. The Company has not quantitatively reconciled its guidance for forward-looking non-GAAP metrics to their most comparable GAAP measures because the Company does not provide specific guidance for the various reconciling items as certain items that impact these measures have not occurred, are out of the Company’s control, or cannot be reasonably predicted. Accordingly, a reconciliation to the most comparable GAAP financial metric is not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact the Company’s results. Free Cash Flow - Represents net cash provided by operating activities (“operating cash flow”) less capital expenditures. The Company believes that free cash flow is useful to investors as the basis for comparing its performance and coverage ratios with other companies in the Company's industries, although the Company's measure of free cash flow may not be directly comparable to similar measures used by other companies. This measure is also used as a component of incentive compensation. EBITDA - Represents net income before interest expense, interest income, income taxes, depreciation, and amortization. Adjusted EBITDA - Represents EBITDA adjusted for net other income, income from discontinued operations, share based compensation expense, U.S. Pension settlement loss, and special items including charges or income related to reorganization and other charges, acquisition related charges, impairment charges, and other income or charges, if any. The Company believes Adjusted EBITDA provides improved period-to-period comparability for decision making because it better measures the ongoing earnings results of the Company’s strategic and operating decisions by excluding the earnings effects of reorganization activities. Adjusted EBITDA Margin - Adj. EBITDA Margin is calculated as Adjusted EBITDA divided by Revenue. Net Debt and Net Debt to Adj. EBITDA Ratio - Net Debt is calculated as Long-term Debt, including the Current Portion of Long-term Debt, less Cash and Cash Equivalents. Net Debt to Adj. EBITDA Ratio is calculated by dividing Net Debt by Trailing 12 month Adjusted EBITDA. Constant Currency or Revenue Normalized for Foreign Exchange - We evaluate our results of operations on both an as reported and a constant currency basis. The revenue normalized for foreign exchange or constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We calculate constant currency percentages by converting our current period local currency results using prior-period exchange rates, and then comparing these adjusted values to prior period reported results. MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. All other trademarks are the property of their respective owners. ©2025 Motorola Solutions, Inc. All rights reserved. 13
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Motorola Solutions, Inc. Disaggregation of Revenues Below is an updated presentation of the disaggregation of revenues for the Company’s major products and services for the three months ended June 29, 2024 and June 28, 2025 to provide a more comprehensive view of the Company’s technologies within our reporting segments, Products & Systems Integration and Software & Services: LMR Communications - Includes revenues from infrastructure, devices (two-way radio and broadband, including both for public safety and professional & commercial radio (PCR)) and software that enable communications, inclusive of installation and integration, backed by services, to assure availability, security and resiliency. Video - Includes revenues from cameras (fixed, body-worn, in-vehicle), access control, infrastructure, video management, software and artificial intelligence (AI)-powered analytics that help enable visibility and bring attention to what’s important. Command Center - Includes revenues from command center solutions and software applications that unify voice, video and data analytics from public safety agencies, enterprises and the community to create a broad informational view to help simplify workflows and improve the accuracy and speed of decisions. Supplemental Disaggregation of Revenue Three Months Ended Growth % by Total Technology June 29, 2024 June 28, 2025 (In millions) Products and Systems Integration Software and Services Total Products and Systems Integration Software and Services Total LMR Communications $ 1,363 $ 578 $ 1,941 $ 1,356 $ 649 $ 2,005 3 % Video 295 181 476 297 226 523 10 % Command Center — 211 211 — 237 237 12 % Total $ 1,658 $ 970 $ 2,628 $ 1,653 $ 1,112 $ 2,765 5 % 14
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Supplemental Non-GAAP Measures Motorola Solutions, Inc. and Subsidiaries Non-GAAP Trends (in millions, except for per share amounts) Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Net sales $ 2,171 $ 2,403 $ 2,556 $ 2,848 $ 2,389 $ 2,628 $ 2,790 $ 3,010 $ 2,528 $ 2,765 GAAP gross margin 1,046 1,189 1,280 1,455 1,192 1,339 1,433 1,548 1,300 1,413 Non-GAAP gross margin adjustments: Share-based compensation expenses 10 10 10 10 11 12 12 13 14 14 Reorganization of business charges 6 (3) 2 2 3 — 2 7 5 6 Non-GAAP gross margin 1,062 1,196 1,292 1,467 1,206 1,351 1,447 1,568 1,319 1,433 GAAP Operating earnings ("OE") 399 518 639 738 519 644 711 814 582 692 Non-GAAP OE Adjustments: Share-based compensation expenses 45 43 42 42 45 51 49 50 52 60 Reorganization of business charges 7 6 4 5 7 4 5 10 12 8 Intangible assets amortization expense 55 43 39 40 39 36 38 39 37 39 Other highlighted items* 10 24 5 33 14 11 13 (17) 14 (1) Non-GAAP OE $ 532 $ 641 $ 741 $ 870 $ 638 $ 758 $ 830 $ 916 $ 716 $ 818 GAAP OE % 18.4 % 21.6 % 25.0 % 25.9 % 21.7 % 24.5 % 25.5 % 27.0 % 23.0 % 25.0 % Non-GAAP Adj % 6.1 % 5.1 % 4.0 % 4.6 % 5.0 % 4.3 % 4.2 % 3.4 % 5.3 % 4.6 % Non-GAAP OE % 24.5 % 26.7 % 29.0 % 30.5 % 26.7 % 28.8 % 29.7 % 30.4 % 28.3 % 29.6 % GAAP Other income (expense) (41) (31) (47) (31) (609) (64) (16) (27) (35) (12) Non-GAAP below OE highlighted items* (2) 13 (15) — (591) (31) 8 (1) (6) 16 Non-GAAP Other income (expense) (39) (44) (32) (31) (18) (33) (24) (26) (29) (28) GAAP Net earnings (loss) attributable to Motorola Solutions, Inc. 278 371 464 595 (39) 443 562 611 430 513 Non-GAAP above OE highlighted items* 133 123 102 132 119 114 119 102 134 126 Non-GAAP below OE highlighted items* 2 (13) 15 — 591 31 (8) 1 6 (16) Non-GAAP tax adjustments and effect (29) (23) (34) (59) (189) (36) (34) (21) (30) (21) TOTAL Non-GAAP Earnings attributable to Motorola Solutions, Inc. $ 384 $ 458 $ 547 $ 668 $ 482 $ 552 $ 639 $ 693 $ 540 $ 602 GAAP attributable to Motorola Solutions, Inc. earnings (loss) per share ("EPS") $ 1.61 $ 2.15 $ 2.70 $ 3.47 $ (0.23) $ 2.60 $ 3.29 $ 3.56 $ 2.53 $ 3.04 Non-GAAP attributable to Motorola Solutions, Inc. EPS adjustments* 0.61 0.50 0.49 0.43 3.04 0.64 0.45 0.48 0.65 0.53 Non-GAAP attributable to Motorola Solutions, Inc. EPS $ 2.22 $ 2.65 $ 3.19 $ 3.90 $ 2.81 $ 3.24 $ 3.74 $ 4.04 $ 3.18 $ 3.57 Diluted weighted average shares outstanding** 172.6 172.6 171.7 171.5 171.3 170.3 170.9 171.4 169.8 168.8 *Highlighted items: The company has excluded the effects of highlighted items including, but not limited to, acquisition-related transaction fees, tangible and intangible asset impairments, reorganization of business charges, certain non-cash pension adjustments, legal settlements and other contingencies, gains and losses on investments and businesses, Hytera-related legal expenses, gains and losses on the extinguishment of debt and the income tax effects of significant tax matters, from its non-GAAP operating expenses and net income measurements because the company believes that these historical items do not reflect expected future operating earnings or expenses and do not contribute to a meaningful evaluation of the company's current operating performance or comparisons to the company's past operating performance. For the purposes of management's internal analysis over operating performance, the company uses financial statements that exclude highlighted items, as these charges do not contribute to a meaningful evaluation of the company's current operating performance or comparisons to the company's past operating performance. **Under U.S. GAAP, the accounting for a net loss from continuing operations results in the presentation of diluted earnings per share equal to basic earnings per share, as any increase in basic shares would be anti-dilutive to earnings per share. As a result of the highlighted items identified during Q1 2024, the Company reported a net loss from continuing operations for the three months ended March 30, 2024 within our GAAP Condensed Consolidated Statement of Operations, while reporting earnings on a non-GAAP basis over the same periods. Dilutive shares of 171.3 million represent the dilutive share count that the Company would have reported in the quarter, if not for the loss per share driven by the highlighted items in the quarter. 15
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Supplemental Non-GAAP Measures Motorola Solutions, Inc. and Subsidiaries Reconciliation of EPS to Non-GAAP EPS (per diluted common share) Q2 2024 Q2 2025 GAAP EPS $ 2.60 $ 3.04 Highlighted Items: Share-based compensation expenses $ 0.37 $ 0.44 Intangible assets amortization expense 0.21 0.23 Reorganization of business charges 0.02 0.08 Hytera-related legal expenses 0.04 0.04 Loss on financing issuance costs — 0.01 Acquisition-related transaction fees 0.02 0.01 Legal settlements — 0.01 Assessments of uncertain tax positions 0.12 — Operating lease asset impairments 0.01 — Gain on Hytera legal settlement — (0.06) Fair value adjustments to equity investments 0.06 (0.11) Income tax expense on Non-GAAP adjustments (0.21) (0.12) Non-GAAP EPS $ 3.24 $ 3.57 16
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Supplemental Non-GAAP Measures Motorola Solutions, Inc. and Subsidiaries Reconciliations of Operating Earnings to Non-GAAP Operating Earnings and Operating Margin to Non-GAAP Operating Margin (in millions) Three Months Ended June 28, 2025 June 29, 2024 Products and Systems Integration Software and Services Total Products and Systems Integration Software and Services Total Net sales $ 1,653 $ 1,112 $ 2,765 $ 1,658 $ 970 $ 2,628 Operating earnings ("OE") $ 363 $ 329 $ 692 $ 379 $ 265 $ 644 Above OE non-GAAP adjustments: Share-based compensation expenses 54 20 74 44 19 63 Intangible assets amortization expense 16 23 39 8 28 36 Reorganization of business charges 10 4 14 6 (2) 4 Hytera-related legal expenses 6 — 6 6 — 6 Acquisition-related transaction fees 2 — 2 1 3 4 Legal settlements 1 — 1 — — — Operating lease asset impairments — — — 1 — 1 Gain on Hytera legal settlement (10) — (10) — — — Total above-OE non-GAAP adjustments 79 47 126 66 48 114 Operating earnings after non-GAAP adjustments $ 442 $ 376 $ 818 $ 445 $ 313 $ 758 Operating earnings as a percentage of net sales - GAAP 22.0 % 29.6 % 25.0 % 22.9 % 27.3 % 24.5 % Operating earnings as a percentage of net sales - after non-GAAP adjustments 26.7 % 33.8 % 29.6 % 26.8 % 32.3 % 28.8 % 17
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Supplemental Non-GAAP Measures * Free Cash Flow is a non-GAAP financial measure and is calculated as Net cash provided by operating activities - Capital Expenditures. Motorola Solutions, Inc. and Subsidiaries Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow (in millions) Three Months Ended Six Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Net cash provided by operating activities $ 272 $ 180 $ 783 $ 562 Capital expenditures (48) (68) (85) (114) Free cash flow* $ 224 $ 112 $ 698 $ 448 18
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Supplemental Non-GAAP Measures Reconciliation Of GAAP Net Earnings To EBITDA and Adjusted EBITDA Net Debt Calculation Net Debt to Adjusted EBITDA Calculation *** Refer to slide 15 for details of highlighted items ($ in millions) Q3 2024 Q4 2024 Q1 2025 Q2 2025 TTM GAAP Net earnings attributable to Motorola Solutions, Inc. $ 562 $ 611 $ 430 $ 513 $ 2,116 Interest Expense, Net 58 56 51 55 220 Income Tax Expense 132 175 115 165 587 Depreciation Expense 46 48 44 47 185 Intangible Amortization Expense 38 39 37 39 153 EBITDA $ 836 $ 929 $ 677 $ 819 $ 3,261 Share-based Compensation Expense 61 63 66 74 264 Reorganization of Business Charges 7 17 17 14 55 Other Above OE Highlighted Items*** 13 (17) 14 (1) 9 Below OE Highlighted Items*** (9) 1 6 (16) (18) Adjusted EBITDA $ 908 $ 993 $ 780 $ 890 $ 3,571 Q2 2025 Long-term Debt $ 7,661 Current Portion of Long-term Debt 70 Less Cash and Cash Equivalents 3,206 Net Debt $ 4,525 Q2 2025 Net Debt $ 4,525 Trailing Twelve Months (“TTM”) Adjusted EBITDA 3,571 Net Debt to TTM Adjusted EBITDA 1.3 19
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Supplemental Non-GAAP Measures Reconciliation Of GAAP Net Earnings To EBITDA and Adjusted EBITDA *** Refer to slide 15 for details of highlighted items ($ in millions) FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 GAAP Net Earnings (Loss) from Continuing Operations $ 640 $ 560 $ (155) $ 966 $ 868 $ 949 $ 1,245 $ 1,363 $ 1,709 $ 1,577 Interest Expense, Net 173 205 201 222 220 220 208 226 216 227 Income Tax Expense 274 282 1,227 133 130 221 302 148 432 390 Depreciation Expense 142 182 192 172 186 194 202 183 179 184 Intangible Amortization Expense 8 113 151 188 208 215 236 257 177 152 EBITDA $ 1,237 $ 1,342 $ 1,616 $ 1,681 $ 1,612 $ 1,799 $ 2,193 $ 2,177 $ 2,713 $ 2,530 US Pension Settlement Loss $ — $ — $ — $ — $ 359 $ — $ — $ — $ — $ — Share-based Compensation Expenses 78 68 66 73 118 129 129 172 212 243 Reorganization of Business Charges 87 138 42 120 57 86 32 36 29 38 Loss from the Extinguishment of Debt — — — — 50 57 18 6 — — Other Above OE Highlighted Items*** 31 15 (37) 104 11 15 53 242 72 21 Below OE Highlighted Items*** (117) 62 46 (12) 1 3 8 4 3 605 Adjusted EBITDA $ 1,316 $ 1,625 $ 1,733 $ 1,966 $ 2,210 $ 2,091 $ 2,433 $ 2,637 $ 3,029 $ 3,437 20
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Solving for safer communities schools hospitals businesses everywhere. MOTOROLA, MOTO, MOTOROLA SOLUTIONS and the Stylized M Logo are trademarks or registered trademarks of Motorola Trademark Holdings, LLC and are used under license. All other trademarks are the property of their respective owners. ©2025 Motorola Solutions, Inc. All rights reserved.