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Earnings Presentation Q3 2026 Results | November 4, 2026
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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 the company operates; (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) challenges relating to the use of artificial intelligence ("AI") in our products and services; (iv) impact of catastrophic events on our business or our customers' or suppliers' business; (v) the effectiveness of our strategic acquisitions, including the integrations of such acquired businesses; (vi) the inability of our products to meet our customers’ expectations or regulatory or industry standards, or actual or perceived systems or service failures of our products and services; (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) inability to attract and retain senior management and key employees; (xiii) evolving and sometimes conflicting expectations from investors, customers, lawmakers, regulators and other stakeholders regarding social and sustainability considerations and disclosures; (xiv) challenges relating to existing or future legislation and regulations pertaining to AI, AI-enabled products and the use of biometrics and other video analytics; (xv) the impact, including increased costs and potential liabilities, associated with changes in laws and regulations regarding cybersecurity, privacy, data protection, data sovereignty and information security; (xvi) the impact of government regulation of radio frequencies; (xvii) regulations, laws and other compliance requirements and risks applicable to our U.S. government customer contracts and grants; (xviii) the impact, including increased costs and additional compliance obligations, associated with existing or future telecommunications-related laws and regulations; (xix) impact of product regulatory and safety, consumer, worker safety and environmental product compliance and remediation laws; (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 access the capital markets for financing on acceptable terms and conditions; (xxvi) exposure to exchange rate fluctuations on cross-border transactions and the translation of local currency results into U.S. dollars; (xxvii) impact of returns on pension and retirement plan assets and interest rate changes; and (xxviii) 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 4th day of November, 2026. 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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• Sales of $3.4B, up 12% Y/Y ● Products and Systems Integration up 12% ● Software and Services up 13% ● Growth in all technologies ■ Mission Critical Networks (“MCN”) up 12% ■ Video Security and Access Control (“Video”) up 11% ■ Command Center up 16% • GAAP EPS of $3.06; Non-GAAP EPS1 of $4.69, up 16% Y/Y • GAAP operating margin of 23.0%; Non-GAAP operating margin1 of 32.5%, up 200 bps Y/Y • Record backlog of $16.6 billion, up 14% Y/Y • Operating cash flow of $662M and free cash flow of $589M • Paid $200M in dividends and repurchased $94M of shares at $457.07 per share • Acquired D-Fend Solutions ("D-Fend"), an industry leader in counter-drone technology, for $1.3B2, funded primarily with $950M of new long-term notes • Announced $2B increase to the share repurchase authorization Highlights Q3 2026 1 Non-GAAP measures exclude highlighted items, share-based compensation expenses and intangible assets amortization expense 2 Net of cash acquired 3
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Financial Results ($M) excluding per share amounts Q3 25 Q3 26 Change Revenue $3,009 $3,376 12% Non-GAAP Operating Earnings* $918 $1,096 19% Non-GAAP Operating Margin* 30.5% 32.5% 200 bps Non-GAAP Earnings Per Share* $4.06 $4.69 16% * Non-GAAP measures exclude highlighted items, share-based compensation expenses and intangible assets amortization expense 4
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Cash Flow ($M) Q3 25 Q3 26 Change FY 25 FY 26E Change Operating Cash Flow $799 $662 ($137) $2,837 $3,050 $213 Capital Expenditures ($66) ($73) ($7) ($265) ($275) ($10) Free Cash Flow** $733 $589 ($144) $2,572 $2,775 $203 ** Free Cash Flow is a non-GAAP financial measure and is calculated as Net cash provided by operating activities - Capital Expenditures 5 YTD Operating Cash Flow of $1,582M, up Y/Y * Raising FY 26E Operating Cash Flow by $50M, up from prior expectations of $3.0B *
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Products & SI Non-GAAP Operating Margin %* Revenue ($M) Q3 2026 * Non-GAAP measures exclude highlighted items, share-based compensation expenses and intangible assets amortization expense $1,897 $2,118 2025 2026 29.3% 31.7% 2025 2026 • Revenue up 12% driven by double-digit growth in MCN and Video • Non-GAAP operating margin* up 240 bps driven by higher sales and improved operating leverage, partially offset by higher supply chain costs • Notable wins and achievements: • $140 million P25 systems and device order with the Federal Bureau of Prisons • $98 million P25 device and SVX order for a U.S. federal customer • $63 million P25 system and device order for the Metro Government of Nashville and Davidson County • $56 million fixed video order for a large convenience store chain • $39 million Silvus order for a German unmanned systems provider 6
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Software & Services • Revenue up 13% driven by double-digit growth in all three technologies • Non-GAAP operating margin* up 120 bps driven by higher sales and improved operating leverage • Notable wins and achievements: • $139 million ten-year P25 services, mobile video and Command Center order for the State of Louisiana • $78 million eight-year mobile video award for a U.S. federal customer • $59 million six-year P25 services order for a state and local customer • $51 million computer aided dispatch and records management order for the Los Angeles Police Dept • $27 million P25 services renewal for North Carolina State Highway Patrol Non-GAAP Operating Margin %* Revenue ($M) Q3 2026 $1,112 $1,258 2025 2026 32.6% 33.8% 2025 2026 * Non-GAAP measures exclude highlighted items, share-based compensation expenses and intangible assets amortization expense 7
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($M) Q3 25 Q3 26 Change North America $2,121 $2,329 10% International $888 $1,047 18% Total $3,009 $3,376 12% Regional Revenue Q3 2026 • North America growth driven by all three technologies • International growth driven by double-digit growth across all three technologies 8
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Backlog Trend ($B) Products & SI Software & Services Q3 2026 $14.6 $15.6 $16.6 $3.6 $3.8 $4.2 $11.0 $11.8 $12.4 Q3 '25 Q2'26 Q3 '26 9 Record backlog driven by record Q3 orders in all three technologies Software & Services • Y/Y up $1.4B driven by strong demand in all three technologies • Q/Q up $575M driven by strong demand in all three technologies Products & Systems Integration • Y/Y up $635M driven by strong demand in MCN and Video • Q/Q up $454M driven by strong demand in MCN and Video * * During the three months ended October 3, 2026, the company recognized a $9 million unfavorable foreign currency impact to the $16.6 billion total ending backlog.
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Outlook (Non-GAAP) Full-Year Details • Effective tax rate between 21.5% and 22% • Fully diluted share count approx. 168M shares Prior Full-Year 2026 Revenue Approx. $12.975 billion Non-GAAP EPS $17.62 - $17.72 10 Q4 2026 Revenue Growth Approx. 13% Non-GAAP EPS $5.47 - $5.52 Q4 Details • Effective tax rate of approx. 22.5% • Fully diluted share count approx. 168M shares Full-Year 2026 Revenue Approx. $13.050 billion Non-GAAP EPS $17.94 - $17.99 Prior Full-Year Details • Effective tax rate between 22% and 22.5% • Fully diluted share count approx. 168M shares
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Q&A Participants Greg Brown Chairman and CEO Jason Winkler Executive Vice President and CFO Brian Piotrowski Vice President, Investor Relations Jack Molloy Executive Vice President and COO Mahesh Saptharishi Executive Vice President and CTO 11
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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, non-GAAP gross margin, non-GAAP other income (expense), non-GAAP earnings attributable to Motorola Solutions, Inc., 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. ©2026 Motorola Solutions, Inc. All rights reserved. 12
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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 September 27, 2025 and October 3, 2026 to provide a more comprehensive view of the Company’s technologies within our reporting segments, Products & Systems Integration and Software & Services: MCN - Includes revenues from infrastructure, mobile ad-hoc network technology (MANET), devices (two-way radio and broadband, including both for public safety and professional & commercial radio (PCR)), counter-unmanned aircraft systems (C-UAS) and software and AI powered capabilities. MCN includes installation and integration, backed by managed and support services, to help assure mission-critical communications availability, security and resiliency. Video - Includes revenues from cameras (fixed, body-worn, in-vehicle), access control, sensors, infrastructure, video management, video monitoring, software and AI-powered analytics that enable visibility of events and focus attention on what’s important, to inform faster and more accurate decisions and actions. Command Center - Includes revenues from command center solutions, software applications and AI-powered capabilities, that unify voice and data from public safety agencies, enterprises and the community, enabling a broad informational view of operations and incidents while helping accelerate workflows and improve the accuracy, speed and trust of decisions. Supplemental Disaggregation of Revenue Three Months Ended Growth % by Total Technology September 27, 2025 October 3, 2026 (In millions) Products and Systems Integration Software and Services Total Products and Systems Integration Software and Services Total MCN $ 1,598 $ 643 $ 2,241 $ 1,784 $ 727 $ 2,511 12 % Video 299 235 534 334 260 594 11 % Command Center — 234 234 — 271 271 16 % Total $ 1,897 $ 1,112 $ 3,009 $ 2,118 $ 1,258 $ 3,376 12 % 13
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Supplemental Non-GAAP Measures Motorola Solutions, Inc. and Subsidiaries Non-GAAP Trends (in millions, except for per share amounts) Q1 '24 Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Q3 '26 Net sales $ 2,389 $ 2,628 $ 2,790 $ 3,010 $ 2,528 $ 2,765 $ 3,009 $ 3,380 $ 2,714 $ 3,133 $ 3,376 GAAP gross margin 1,192 1,339 1,433 1,548 1,300 1,413 1,554 1,768 1,362 1,678 1,768 Non-GAAP gross margin adjustments: Share-based compensation expenses 11 12 12 13 14 14 14 15 21 22 22 Reorganization of business charges 3 — 2 7 5 6 2 3 5 5 2 Non-GAAP gross margin 1,206 1,351 1,447 1,568 1,319 1,433 1,570 1,786 1,388 1,705 1,792 GAAP Operating earnings ("OE") 519 644 711 814 582 692 770 944 525 809 777 Non-GAAP OE Adjustments: Share-based compensation expenses 45 51 49 50 52 60 59 65 79 82 81 Reorganization of business charges 7 4 5 10 12 8 12 12 10 10 10 Intangible assets amortization expense 39 36 38 39 37 39 66 92 90 95 97 Other highlighted items* 14 11 13 (17) 14 (1) (5) (45) 51 9 107 Non-GAAP OE $ 638 $ 758 $ 830 $ 916 $ 716 $ 818 $ 918 $ 1,086 $ 781 $ 1,032 $ 1,096 GAAP OE % 21.7 % 24.5 % 25.5 % 27.0 % 23.0 % 25.0 % 25.6 % 27.9 % 19.3 % 25.8 % 23.0 % Non-GAAP Adj % 5.0 % 4.3 % 4.2 % 3.4 % 5.3 % 4.6 % 4.9 % 4.2 % 9.5 % 7.1 % 9.5 % Non-GAAP OE % 26.7 % 28.8 % 29.7 % 30.4 % 28.3 % 29.6 % 30.5 % 32.1 % 28.8 % 32.9 % 32.5 % GAAP Other income (expense) (609) (64) (16) (27) (35) (12) (45) (83) (84) (67) (99) Non-GAAP below OE highlighted items* (591) (31) 8 (1) (6) 16 5 (7) (5) 12 (10) Non-GAAP Other income (expense) (18) (33) (24) (26) (29) (28) (50) (76) (79) (79) (89) GAAP Net earnings (loss) attributable to Motorola Solutions, Inc. (39) 443 562 611 430 513 562 649 366 557 512 Non-GAAP above OE highlighted items* 119 114 119 102 134 126 148 142 256 223 319 Non-GAAP below OE highlighted items* 591 31 (8) 1 6 (16) (5) 7 5 (12) 10 Non-GAAP tax adjustments and effect (189) (36) (34) (21) (30) (21) (19) (27) (61) (31) (56) TOTAL Non-GAAP Earnings attributable to Motorola Solutions, Inc. $ 482 $ 552 $ 639 $ 693 $ 540 $ 602 $ 686 $ 771 $ 566 $ 737 $ 785 GAAP attributable to Motorola Solutions, Inc. earnings (loss) per share ("EPS") $ (0.23) $ 2.60 $ 3.29 $ 3.56 $ 2.53 $ 3.04 $ 3.33 $ 3.86 $ 2.18 $ 3.33 $ 3.06 Non-GAAP attributable to Motorola Solutions, Inc. EPS adjustments* 3.04 0.64 0.45 0.48 0.65 0.53 0.73 0.73 1.19 1.08 1.63 Non-GAAP attributable to Motorola Solutions, Inc. EPS $ 2.81 $ 3.24 $ 3.74 $ 4.04 $ 3.18 $ 3.57 $ 4.06 $ 4.59 $ 3.37 $ 4.41 $ 4.69 Diluted weighted average shares outstanding** 171.3 170.3 170.9 171.4 169.8 168.8 169.0 168.1 168.0 167.2 167.4 *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, adjustments to contingent earnout 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. 14
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Supplemental Non-GAAP Measures Motorola Solutions, Inc. and Subsidiaries Reconciliation of EPS to Non-GAAP EPS (per diluted common share) Q3 2025 Q3 2026 GAAP EPS $ 3.33 $ 3.06 Highlighted Items: Share-based compensation expenses $ 0.43 $ 0.62 Intangible assets amortization expense 0.39 0.58 Acquisition-related transaction fees 0.33 0.17 Reorganization of business charges 0.08 0.07 Hytera-related legal expenses 0.07 0.02 Operating lease asset impairments 0.01 — Legal settlements 0.01 0.01 Investment impairments 0.01 — Assessments of uncertain tax positions 0.01 0.01 Contingent earnout adjustment — 0.52 Loss on financing issuance costs — — Fair value adjustments to equity investments (0.05) 0.05 Income tax expense on Non-GAAP adjustments (0.12) (0.34) Gain on Hytera litigation (0.44) (0.08) Non-GAAP EPS $ 4.06 $ 4.69 15
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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 October 3, 2026 September 27, 2025 Products and Systems Integration Software and Services Total Products and Systems Integration Software and Services Total Net sales $ 2,118 $ 1,258 $ 3,376 $ 1,897 $ 1,112 $ 3,009 Operating earnings ("OE") 446 331 777 458 312 770 Above OE non-GAAP adjustments: Contingent earnout adjustment 78 9 87 — — — Share-based compensation expenses 69 34 103 53 20 73 Intangible assets amortization expense 59 38 97 44 22 66 Acquisition-related transaction fees 20 9 29 52 3 55 Reorganization of business charges 9 3 12 9 5 14 Hytera-related legal expenses 3 — 3 11 — 11 Operating lease asset impairments — — — 1 — 1 Legal settlements — 1 1 1 1 2 Gain on Hytera litigation (13) — (13) (74) — (74) Total above-OE non-GAAP adjustments 225 94 319 97 51 148 Operating earnings after non-GAAP adjustments $ 671 $ 425 $ 1,096 $ 555 $ 363 $ 918 Operating earnings as a percentage of net sales - GAAP 21.1 % 26.3 % 23.0 % 24.1 % 28.1 % 25.6 % Operating earnings as a percentage of net sales - after non-GAAP adjustments 31.7 % 33.8 % 32.5 % 29.3 % 32.6 % 30.5 % 16
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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 Nine Months Ended October 3, 2026 September 27, 2025 October 3, 2026 September 27, 2025 Net cash provided by operating activities $ 662 $ 799 $ 1,582 $ 1,581 Capital expenditures (73) (66) (190) (151) Free cash flow* $ 589 $ 733 $ 1,392 $ 1,430 17
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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 14 for details of highlighted items ($ in millions) Q4 2025 Q1 2026 Q2 2026 Q3 2026 TTM GAAP Net earnings attributable to Motorola Solutions, Inc. $ 649 $ 366 $ 557 $ 512 $ 2,084 Interest Expense, Net 110 104 103 107 424 Income Tax Expense 211 73 184 164 632 Depreciation Expense 51 53 53 53 210 Intangible Amortization Expense 92 90 95 97 374 EBITDA $ 1,113 $ 686 $ 992 $ 933 $ 3,724 Share-based Compensation Expense 80 100 104 103 387 Reorganization of Business Charges 15 15 15 12 57 Other Above OE Highlighted Items*** (45) 51 9 107 122 Below OE Highlighted Items*** 6 5 (12) 10 9 Adjusted EBITDA $ 1,169 $ 857 $ 1,108 $ 1,165 $ 4,299 Q3 2026 Long-term Debt $ 9,361 Short-term borrowings 750 Less Cash and Cash Equivalents 774 Net Debt $ 9,337 Q3 2026 Net Debt $ 9,337 Trailing Twelve Months (“TTM”) Adjusted EBITDA 4,299 Net Debt to TTM Adjusted EBITDA 2.2 18
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Supplemental Non-GAAP Measures Reconciliation Of GAAP Net Earnings To EBITDA and Adjusted EBITDA *** Refer to slide 14 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 FY 2025 GAAP Net Earnings (Loss) from Continuing Operations $ 640 $ 560 $ (155) $ 966 $ 868 $ 949 $ 1,245 $ 1,363 $ 1,709 $ 1,577 $ 2,154 Interest Expense, Net 173 205 201 222 220 220 208 226 216 227 302 Income Tax Expense 274 282 1,227 133 130 221 302 148 432 390 652 Depreciation Expense 142 182 192 172 186 194 202 183 179 184 191 Intangible Amortization Expense 8 113 151 188 208 215 236 257 177 152 234 EBITDA $ 1,237 $ 1,342 $ 1,616 $ 1,681 $ 1,612 $ 1,799 $ 2,193 $ 2,177 $ 2,713 $ 2,530 $ 3,533 US Pension Settlement Loss $ — $ — $ — $ — $ 359 $ — $ — $ — $ — $ — $ — Share-based Compensation Expenses 78 68 66 73 118 129 129 172 212 243 293 Reorganization of Business Charges 87 138 42 120 57 86 32 36 29 38 60 Loss from the Extinguishment of Debt — — — — 50 57 18 6 — 585 — Other Above OE Highlighted Items*** 31 15 (37) 104 11 15 53 242 72 21 (38) Below OE Highlighted Items*** (117) 62 46 (12) 1 3 8 4 3 20 (9) Adjusted EBITDA $ 1,316 $ 1,625 $ 1,733 $ 1,966 $ 2,210 $ 2,091 $ 2,433 $ 2,637 $ 3,029 $ 3,437 $ 3,839 19
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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. ©2026 Motorola Solutions, Inc. All rights reserved. Solving for safer communities schools hospitals businesses nations everywhere