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Earnings conference call 3rd quarter 2026 © 2026 RTX Corporation. All rights reserved. October 20, 2026
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2 Forward looking statements Note: This investor webcast presentation contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide RTX Corporation ("RTX") management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid, and are not statements of historical fact. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "goals," "objectives," "confident," "on track," "designed to, " "commit," "commitment" and other words of similar meaning. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax payments and rates, research and development spending, cost savings, other measures of financial performance, potential future plans, strategies or transactions, credit ratings and net indebtedness, the Pratt powder metal matter and related matters and activities, including without limitation other engine models that may be impacted, targets and commitments (including for share repurchases or otherwise), and other statements which are not solely historical facts. All forward-looking statements involve risks, uncertainties, changes in circumstances and other factors that are hard to predict and each of which may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, as amended. Such risks, uncertainties and other factors include, without limitation: (1) changes in economic, capital market, and political conditions in the U.S. and globally; (2) changes in U.S. or foreign government defense spending, national priorities, and policy positions; (3) our performance on our contracts and programs, including our ability to control costs, and our dependence on U.S. government approvals for certain international contracts; (4) challenges in the development, certification, production, delivery, support, and performance of RTX's advanced technologies and new products and services and the realization of the anticipated benefits; (5) the challenges of operating in RTX's highly-competitive industries both domestically and abroad; (6) our reliance on U.S. and non-U.S. suppliers and commodity markets, including cost increases and disruptions in the delivery of materials and services to RTX or our suppliers; (7) changes in trade policies, implementation of sanctions, imposition of tariffs (and counter-tariffs) and other trade measures and restrictions, foreign currency fluctuations, and sales methods; (8) the economic condition of the aerospace industry; (9) the ability of RTX to attract, train, qualify, and retain qualified personnel and maintain its culture and high ethical standards, and the ability of our personnel to continue to operate our facilities and businesses around the world; (10) the scope, nature, timing, and challenges of managing and completing acquisitions, investments, divestitures, and other transactions; (11) compliance with legal, environmental, regulatory, and other requirements in the U.S. and other countries in which RTX and its businesses operate; (12) pending, threatened, and future legal proceedings, investigations, audits and other contingencies; (13) the previously-disclosed deferred prosecution agreements entered into between RTX and the Department of Justice (DOJ), the Securities and Exchange Commission (SEC) administrative order imposed on RTX, and the related investigations by the SEC and DOJ, the consent agreement between RTX and the Department of State, and the administrative agreement between RTX and the Department of the Navy; (14) RTX's ability to engage in desirable capital-raising or strategic transactions; (15) repurchases by RTX of its common stock, or declarations of cash dividends, which may be discontinued, accelerated, suspended, or delayed at any time due to various factors; (16) realizing expected benefits from, incurring costs for, and successfully managing strategic initiatives such as cost reduction, restructuring, digital transformation, and other operational initiatives; (17) additional tax exposures due to new tax legislation or other developments in the U.S. and other countries in which RTX and its businesses operate; (18) the identified rare condition in powder metal used to manufacture certain Pratt & Whitney engine parts requiring accelerated removals and inspections of a significant portion of the PW1100G-JM Geared Turbofan (GTF) fleet; (19) changes in production volumes of one or more of our significant customers as a result of business, labor, or other challenges, and the resulting effect on its or their demand for our products and services; (20) an RTX product safety failure, quality issue, or other failure affecting RTX's or its customers' or suppliers' products or systems; (21) cybersecurity, including cyber-attacks on RTX's information technology infrastructure, products, suppliers, customers and partners, and cybersecurity-related regulations; (22) insufficient indemnity or insurance coverage; (23) our intellectual property and certain third-party intellectual property; (24) threats to RTX facilities and personnel, or those of its suppliers or customers, as well as public health crises, damaging weather, acts of nature, or other similar events outside of RTX's control that may affect RTX or its suppliers or customers; (25) changes in accounting estimates for our programs on our financial results; (26) changes in pension and other postretirement plan estimates and assumptions and contributions; (27) an impairment of goodwill and other intangible assets; and (28) climate change and climate-related regulations, and related customer and market demands, products and technologies. For additional information on identifying factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, see the reports of RTX filed with or furnished to the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it is made, and RTX assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
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RTX backlog ▲36% growth ▲Over $81B of new awards, including approximately $37B of multi-year contracts for Tomahawk and AMRAAM production Raising adjusted sales,* adjusted EPS,* and free cash flow* outlook for 2026 Reflects strong operational performance and IEEPA recovery $2.1B 3 3Q 2026 highlights Outlook Adjusted sales* ▲12% organic* growth ▲16% commercial aftermarket growth** $25.0B Adjusted EPS* ▲33% growth* ▲56 cents,* including 25 cents of IEEPA cost recovery $2.26 $340B *See Appendix for additional information regarding these non-GAAP financial measures **Excluding Acquisitions, Divestitures, and FX/Other IEEPA = International Emergency Economic Powers Act Photo: AMRAAM Free cash flow*
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DRIVING BEST-IN-CLASS PERFORMANCE THROUGH: 4 ► Executing on our commitments ► Innovating for future growth ► Leveraging our breadth and scale Performance highlights Photo: Standard Missile-6 ► Improved PW1100 MRO output by over 35% year-over-year ► Advancing structural cost actions across Collins to support further margin expansion ► Ramping critical munitions output at Raytheon ► Invested $2.8B in company and customer- funded R&D and capex to develop new technologies and expand capacity ► Progressing Raytheon's composable weapons strategy to address evolving customer needs faster
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$1.41 $1.89 2025 2026 $2.9B $2.1B • 12% organic sales growth* ▲10% commercial OE** ▲16% commercial aftermarket** ▲10% defense** • 39% adjusted segment operating profit growth* with 310 bps of segment margin expansion,* including the benefit of approximately 160 bps from IEEPA recovery • $2.1B free cash flow,* including approximately $0.3B of IEEPA recovery 3Q 2026 results GAAP EPS1 EXCLUDES: Acq. Accounting Adj. ($0.29) ($0.26) Restructuring and Other $— ($0.11) CASH FLOW ADJUSTED EPS*1 ADJUSTED SALES* 11% Adjusted growth* 12% Organic growth* ▲34% GAAP ▲33% Adjusted* Operating Cash Flow CapEx Free Cash Flow* KEY TAKEAWAYS $22.5B $25.0B REPORTED SALES $22.5B $25.0B 2025 2026 $1.70 $2.26 2025 2026 5*See Appendix for additional information regarding these non-GAAP financial measures **Excluding Acquisitions, Divestitures, and FX/Other 13Q 2026 EPS and adjusted EPS* included approximately 25 cents of IEEPA recovery
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*See Appendix for additional information regarding these non-GAAP financial measures RTX 2026 outlook ADJUSTED SALES* ▲$97.0B - $97.5B Prior: $95.0B - $96.0B ORGANIC SALES GROWTH %* ▲10% - 11% Prior: 8% - 9% ADJUSTED EPS* ▲$7.65 - $7.75 Prior: $7.10 - $7.25 FREE CASH FLOW* ▲$9.0B - $9.2B Prior: $8.50B - $8.75B 6 Photo: Tomahawk
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▲10% Adjusted sales* • Commercial OE up 23%** • Commercial aftermarket up 9%** • Defense up 7%** ▲50% Adjusted operating profit* • Higher commercial volume • Favorable commercial mix • IEEPA recovery of approximately $250M ADJUSTED SALES* ADJUSTED OPERATING PROFIT* ADJUSTED ROS* *See Appendix for additional information regarding these non-GAAP financial measures **Excluding Acquisitions, Divestitures, and FX/Other Collins Aerospace 3Q 2026 results HIGHLIGHTS $7,621 $8,382 $1,260 $1,789 16.5% 21.3% REPORTED REPORTED REPORTED ($ millions) ▲12% Organic sales* $7,621 $8,382 2025 2026 $1,194 $1,788 2025 2026 Collins Aerospace and Etihad Airways Engineering announced a joint venture to deliver nacelle and thrust reverser MRO services for A350 and 787 fleets, more than doubling Collins’ nacelle MRO footprint in the Middle East. The new facility, expected to be operational in early 2027, will expand capacity and improve turnaround times. 7 15.7% 21.3% 2025 2026
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▲10% Adjusted sales* • Commercial OE down 5% • Commercial aftermarket up 21% • Military up 2% ▲29% Adjusted operating profit* • Higher commercial aftermarket volume • IEEPA recovery of approximately $160M • Unfavorable large commercial OE mix • Unfavorable commercial aftermarket mix • Higher SG&A expense ADJUSTED SALES* ADJUSTED OPERATING PROFIT* ADJUSTED ROS* *See Appendix for additional information regarding these non-GAAP financial measures Pratt & Whitney 3Q 2026 results HIGHLIGHTS ▲10% Organic sales* $8,423 $9,231 $751 $608 8.9% 6.6% REPORTED REPORTED REPORTED $8,423 $9,231 2025 2026 $751 $968 2025 2026 ($ millions) 8 8.9% 10.5% 2025 2026 The first aircraft powered by Pratt & Whitney GTF Advantage engines was delivered to United Airlines in Q2 and entered service in October. The GTF Advantage features the most state-of-the-art hot section in the single-aisle market and will deliver up to twice the time on wing compared to today's GTF engine, along with 4% to 8% more takeoff thrust, enabling longer range capability.
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R a y t h e o n s e c u r e d s i g n i f i c a n t m u l t i ‑ y e a r a w a r d s in the quarter, including approximately $23B for Tomahawk to ramp annual production above 1,000 units and over $14B for AMRAAM, supporting a production ramp up to 1,900 units per year. These awards provide firm long-term production demand. ▲14% Adjusted sales* • Higher volume on naval programs • Higher volume on land and air defense systems ▲32% Adjusted operating profit* • Improved net productivity • Higher volume • Favorable mix, including Patriot programs $130B Backlog • $23.0B Tomahawk • $14.3B AMRAAM • $3.1B British Army training system • $3.0B Classified awards Book-to-bill • 6.54 3Q | 2.90 rolling 12-month Raytheon 3Q 2026 results HIGHLIGHTS ADJUSTED SALES* ADJUSTED OPERATING PROFIT* ADJUSTED ROS* $7,045 $8,031 ▲14% Organic sales* REPORTED REPORTED REPORTED $7,045 $8,031 2025 2026 $859 $1,134 2025 2026 12.2% 14.1% 2025 2026 ($ millions) 9 $859 $1,133 12.2% 14.1% *See Appendix for additional information regarding these non-GAAP financial measures
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Focused on strategic priorities to drive top and bottom-line growth this year and beyond Key takeaways Strong financial performance driven by execution Exceptionally well positioned across commercial and defense end markets Raising 2026 outlook for adjusted sales,* adjusted EPS,* and free cash flow* 10*See Appendix for additional information regarding these non-GAAP financial measures
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Appendix 12
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1 Net significant and/or non-recurring items represent significant nonoperational items and/or significant operational items that may occur at irregular intervals. 2 Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant and equipment fair value adjustment acquired through acquisitions, the amortization of customer contractual obligations related to loss making or below market contracts acquired, and goodwill impairment, if applicable. 3 The FAS/CAS operating adjustment represents the difference between the service cost component of our pension and postretirement benefit (PRB) expense under the Financial Accounting Standards (FAS) requirements of GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our Raytheon segment. When we provide our expectation for adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), adjusted segment operating profit (loss) and margin percentage (ROS), adjusted EPS, adjusted effective tax rate, and free cash flow, on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures, as described above, generally are not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results. RTX Corporation (“RTX” or “the Company”) reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that these non-GAAP measures provide investors with additional insight into the Company’s ongoing business performance. Other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. Certain non-GAAP financial adjustments are also described in this Appendix. To the right are our non- GAAP financial measures: NON-GAAP MEASURE DEFINITION Adjusted net sales / Adjusted sales Represents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinafter referred to as “net significant and/or non-recurring items”). Organic sales Organic sales represents the change in consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and net significant and/or non-recurring items. Adjusted operating profit (loss) and margin percentage (ROS) Adjusted operating profit (loss) represents operating profit (loss) (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted operating profit margin percentage represents adjusted operating profit (loss) as a percentage of adjusted net sales. Segment operating profit (loss) and margin percentage (ROS) Segment operating profit (loss) represents operating profit (loss) (a GAAP measure) excluding acquisition accounting adjustments2, the FAS/ CAS operating adjustment3, Corporate expenses and other unallocated items, and Eliminations and other. Segment operating profit margin percentage represents segment operating profit (loss) as a percentage of segment sales (net sales, excluding Eliminations and other). Adjusted segment sales Represents consolidated net sales (a GAAP measure) excluding eliminations and other and net significant and/or non-recurring items. Adjusted segment operating profit (loss) and margin percentage (ROS) Adjusted segment operating profit (loss) represents segment operating profit (loss) excluding restructuring costs, and net significant and/or non- recurring items. Adjusted segment operating profit margin percentage represents adjusted segment operating profit (loss) as a percentage of adjusted segment sales (adjusted net sales excluding Eliminations and other). Adjusted net income Adjusted net income represents net income (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted earnings per share (EPS) Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted effective tax rate Adjusted effective tax rate represents the effective tax rate (a GAAP measure), excluding the tax impact of restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Free cash flow Free cash flow represents cash flow from operating activities (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing RTX’s ability to fund its activities, including the financing of acquisitions, debt service, repurchases of RTX’s common stock, and distribution of earnings to shareowners. Use and definitions of non-GAAP financial measures 13
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*See Appendix for additional information regarding these non-GAAP financial measures 2026 segment outlook 14 ADJUSTED SALES VPY%* ORGANIC SALES VPY%* ADJUSTED OPERATING PROFIT VPY* ($M) COLLINS AEROSPACE Current Prior Up high-single digits Up mid to high-single digits Up low double digits Up high-single to low double digits $925 - $975 $550 - $625 PRATT & WHITNEY Current Prior Up high-single digits Up high-single digits Up high-single digits Up high-single digits $475 - $525 $275 - $350 RAYTHEON Current Prior Up low teens Up high-single to low double digits Up low teens Up high-single to low double digits $800 - $850 $575 - $650
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*All items on an adjusted basis **See Appendix for additional information regarding these non-GAAP financial measures 15 Additional 2026 items* ADJUSTED EFFECTIVE TAX RATE** ~18.0% - 18.5% INTEREST EXPENSE ~$1,600M CORPORATE EXPENSE AND OTHER UNALLOCATED ITEMS ~$175M FAS/CAS OPERATING ADJUSTMENT ~$675M NON-SERVICE PENSION INCOME ~$1,400M CAPEX SPENDING ~$3.1B FY 2026 Outlook Prior: ~18.0% - 18.5% Prior: ~$1,625M Prior: ~$225M Prior: ~$650M Prior: ~$1,400M Prior: ~$3.1B
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2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 MILITARY 51 40 63 73 227 61 70 75 LARGE COMMERCIAL 250 227 266 312 1,055 235 260 269 PRATT & WHITNEY CANADA1 518 521 516 571 2,126 497 522 558 1Excludes APUs RTX: P&W engine shipments to customers 16
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3Q 2026: RTX free cash flow reconciliation 3Q 2026 NET INCOME $2,708 DEPRECIATION & AMORTIZATION 1,068 CHANGE IN WORKING CAPITAL (1,228) OTHER 320 CASH FLOW FROM OPERATING ACTIVITIES $2,868 CAPITAL EXPENDITURES (749) FREE CASH FLOW $2,119 ($ millions) 17
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3Q 2026: RTX sales reconciliation TOTAL REPORTED CHANGE ACQUISITIONS & DIVESTITURES FX/OTHER ORGANIC CHANGE 3Q 2025 ADJUSTED SALES1 ORGANIC CHANGE AS A % OF ADJUSTED SALES COLLINS AEROSPACE $761 ($138) ($8) $907 $7,621 12% PRATT & WHITNEY 808 — (8) 816 8,423 10% RAYTHEON 986 — 6 980 7,045 14% ELIMS & OTHER (68) 14 10 (92) (611) 15% TOTAL $2,487 ($124) $— $2,611 $22,478 12% 1 For the full non-GAAP reconciliation of our sales refer to slide 20 ($ millions) 18
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RTX: restructuring costs ($ MILLIONS) 2026 2025 RESTRUCTURING IMPACT TO: Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 OPERATING PROFIT (LOSS) COLLINS AEROSPACE $9 ($64) $6 ($113) ($39) ($17) ($35) ($204) PRATT & WHITNEY (1) (2) 3 (10) (8) — (3) (21) RAYTHEON (4) (1) (1) — (4) — — (4) TOTAL SEGMENT OPERATING PROFIT (LOSS) 4 (67) 8 (123) (51) (17) (38) (229) CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS (1) (8) (1) (9) — (2) (6) (17) TOTAL CONSOLIDATED OPERATING PROFIT (LOSS) 3 (75) 7 (132) (51) (19) (44) (246) NON-SERVICE PENSION INCOME (2) (2) (3) — — — — — INCOME BEFORE INCOME TAXES $1 ($77) $4 ($132) ($51) ($19) ($44) ($246) 19
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1 For the full non-GAAP reconciliation of our segment net sales and operating profit, refer to slides 22-24. For the full reconciliation of our non-operating results, net income and EPS refer to slide 26 RTX: 2025 reported to adjusted ($ MILLIONS) REPORTED (UNAUDITED) RESTRUCTURING & NET SIGNIFICANT AND/OR NON-RECURRING ITEMS1 ADJUSTED1 (UNAUDITED) NET SALES Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 COLLINS AEROSPACE $7,217 $7,622 $7,621 $7,736 $30,196 $— $— $— $— $— $7,217 $7,622 $7,621 $7,736 $30,196 PRATT & WHITNEY 7,366 7,631 8,423 9,496 32,916 — — — — — 7,366 7,631 8,423 9,496 32,916 RAYTHEON 6,340 7,001 7,045 7,657 28,043 — — — — — 6,340 7,001 7,045 7,657 28,043 TOTAL SEGMENT NET SALES 20,923 22,254 23,089 24,889 91,155 — — — — — 20,923 22,254 23,089 24,889 91,155 ELIMINATIONS AND OTHER (617) (673) (611) (651) (2,552) — — — — — (617) (673) (611) (651) (2,552) CONSOLIDATED NET SALES $20,306 $21,581 $22,478 $24,238 $88,603 $— $— $— $— $— $20,306 $21,581 $22,478 $24,238 $88,603 OPERATING PROFIT COLLINS AEROSPACE $1,088 $1,173 $1,260 $1,402 $4,923 ($139) ($76) $66 $179 $30 $1,227 $1,249 $1,194 $1,223 $4,893 PRATT & WHITNEY 580 492 751 773 2,596 (10) (116) — (3) (129) 590 608 751 776 2,725 RAYTHEON 678 805 859 885 3,227 — (4) — — (4) 678 809 859 885 3,231 TOTAL SEGMENT OPERATING PROFIT 2,346 2,470 2,870 3,060 10,746 (149) (196) 66 176 (103) 2,495 2,666 2,804 2,884 10,849 ELIMINATIONS AND OTHER 12 24 (14) 32 54 — 41 — — 41 12 (17) (14) 32 13 CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS (38) (47) (25) (138) (248) (9) (5) (2) (6) (22) (29) (42) (23) (132) (226) FAS/CAS OPERATING ADJUSTMENT 185 186 199 183 753 — — — — — 185 186 199 183 753 ACQUISITION ACCOUNTING ADJUSTMENTS (470) (487) (507) (541) (2,005) (470) (487) (507) (541) (2,005) — — — — — CONSOLIDATED OPERATING PROFIT $2,035 $2,146 $2,523 $2,596 $9,300 ($628) ($647) ($443) ($371) ($2,089) $2,663 $2,793 $2,966 $2,967 $11,389 NON-SERVICE PENSION INCOME ($366) ($351) ($364) ($101) ($1,182) $— $— $— $261 $261 ($366) ($351) ($364) ($362) ($1,443) INTEREST EXPENSE, NET 443 457 449 400 1,749 (8) (11) — (35) (54) 451 468 449 435 1,803 INCOME BEFORE INCOME TAXES 1,958 2,040 2,438 2,297 8,733 (620) (636) (443) (597) (2,296) 2,578 2,676 2,881 2,894 11,029 INCOME TAX EXPENSE 333 315 432 584 1,664 (164) (175) (50) (108) (497) 497 490 482 692 2,161 NET INCOME 1,625 1,725 2,006 1,713 7,069 (456) (461) (393) (489) (1,799) 2,081 2,186 2,399 2,202 8,868 LESS: NONCONTROLLING INTEREST IN SUBSIDIARIES’ EARNINGS 90 68 88 91 337 — — — — — 90 68 88 91 337 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $1,535 $1,657 $1,918 $1,622 $6,732 ($456) ($461) ($393) ($489) ($1,799) $1,991 $2,118 $2,311 $2,111 $8,531 EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREOWNERS BASIC EARNINGS PER SHARE $1.15 $1.24 $1.43 $1.21 $5.02 $1.49 $1.58 $1.72 $1.57 $6.36 DILUTED EARNINGS PER SHARE $1.14 $1.22 $1.41 $1.19 $4.96 $1.47 $1.56 $1.70 $1.55 $6.29 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (MILLIONS) BASIC SHARES 1,337.1 1,340.6 1,343.1 1,344.9 1,341.4 1,337.1 1,340.6 1,343.1 1,344.9 1,341.4 DILUTED SHARES 1,351.8 1,354.0 1,358.4 1,361.7 1,356.4 1,351.8 1,354.0 1,358.4 1,361.7 1,356.4 20
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($ MILLIONS) REPORTED (UNAUDITED) RESTRUCTURING & NET SIGNIFICANT AND/OR NON-RECURRING ITEMS1 ADJUSTED1 (UNAUDITED) NET SALES Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 Q1 2026 Q2 2026 Q3 2026 COLLINS AEROSPACE $7,602 $8,210 $8,382 $— $— $— $7,602 $8,210 $8,382 PRATT & WHITNEY 8,173 8,889 9,231 — — — 8,173 8,889 9,231 RAYTHEON 6,945 8,269 8,031 — — — 6,945 8,269 8,031 TOTAL SEGMENT NET SALES 22,720 25,368 25,644 — — — 22,720 25,368 25,644 ELIMINATIONS AND OTHER (644) (660) (679) — — — (644) (660) (679) CONSOLIDATED NET SALES $22,076 $24,708 $24,965 $— $— $— $22,076 $24,708 $24,965 OPERATING PROFIT COLLINS AEROSPACE $1,307 $1,306 $1,789 $9 ($64) $1 $1,298 $1,370 $1,788 PRATT & WHITNEY 710 738 608 (1) (2) (360) 711 740 968 RAYTHEON 841 1,042 1,133 (4) (1) (1) 845 1,043 1,134 TOTAL SEGMENT OPERATING PROFIT 2,858 3,086 3,530 4 (67) (360) 2,854 3,153 3,890 ELIMINATIONS AND OTHER 38 98 110 — 70 159 38 28 (49) CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS (42) (70) (26) (1) (77) (1) (41) 7 (25) FAS/CAS OPERATING ADJUSTMENT 172 171 171 — — — 172 171 171 ACQUISITION ACCOUNTING ADJUSTMENTS (471) (474) (448) (471) (474) (448) — — — CONSOLIDATED OPERATING PROFIT $2,555 $2,811 $3,337 ($468) ($548) (650) $3,023 $3,359 $3,987 NON-SERVICE PENSION INCOME ($355) ($348) ($345) $2 $2 $3 ($357) ($350) ($348) INTEREST EXPENSE, NET 390 417 381 — — — 390 417 381 INCOME BEFORE INCOME TAXES 2,520 2,742 3,301 (470) (550) (653) 2,990 3,292 3,954 INCOME TAX EXPENSE 363 493 593 (104) (110) (145) 467 603 738 NET INCOME 2,157 2,249 2,708 (366) (440) (508) 2,523 2,689 3,216 LESS: NONCONTROLLING INTEREST IN SUBSIDIARIES’ EARNINGS 98 110 125 — — — 98 110 125 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $2,059 $2,139 $2,583 ($366) ($440) ($508) $2,425 $2,579 $3,091 EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREOWNERS BASIC EARNINGS PER SHARE $1.53 $1.58 $1.91 $1.80 $1.91 $2.29 DILUTED EARNINGS PER SHARE $1.51 $1.57 $1.89 $1.78 $1.89 $2.26 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (MILLIONS) BASIC SHARES 1,348.0 1,350.7 1,352.2 1,348.0 1,350.7 1,352.2 DILUTED SHARES 1,364.6 1,365.0 1,368.1 1,364.6 1,365.0 1,368.1 1 For the full non-GAAP reconciliation of our segment net sales and operating profit, refer to slides 22-24. For the full reconciliation of our non-operating results, net income, and EPS refer to slide 26 21 RTX: 2026 reported to adjusted
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RTX: reconciliation of GAAP to adjusted COLLINS AEROSPACE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 COLLINS AEROSPACE Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $7,602 $8,210 $8,382 $7,217 $7,622 $7,621 $7,736 $30,196 OPERATING PROFIT $1,307 $1,306 $1,789 $1,088 $1,173 $1,260 $1,402 $4,923 RESTRUCTURING 9 (64) 6 (113) (39) (17) (35) (204) GAIN ON SALE OF BUSINESSES, NET OF TRANSACTION AND OTHER RELATED COSTS — — — — — 95 214 309 PORTFOLIO TRANSFORMATION AND DIVESTITURE COSTS — — (5) (26) (37) (12) — (75) ADJUSTED OPERATING PROFIT $1,298 $1,370 $1,788 $1,227 $1,249 $1,194 $1,223 $4,893 ADJUSTED OPERATING PROFIT MARGIN 17.1% 16.7% 21.3% 17.0% 16.4% 15.7% 15.8% 16.2% TOTAL OPERATING PROFIT ADJUSTMENTS $9 ($64) $1 ($139) ($76) $66 $179 $30 22
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RTX: reconciliation of GAAP to adjusted (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 PRATT & WHITNEY Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $8,173 $8,889 $9,231 $7,366 $7,631 $8,423 $9,496 $32,916 OPERATING PROFIT $710 $738 $608 $580 $492 $751 $773 $2,596 RESTRUCTURING (1) (2) 3 (10) (8) — (3) (21) CUSTOMER BANKRUPTCY — — (363) — (108) — — (108) ADJUSTED OPERATING PROFIT $711 $740 $968 $590 $608 $751 $776 $2,725 ADJUSTED OPERATING PROFIT MARGIN 8.7% 8.3% 10.5% 8.0% 8.0% 8.9% 8.2% 8.3% TOTAL OPERATING PROFIT ADJUSTMENTS ($1) ($2) ($360) ($10) ($116) $— ($3) ($129) PRATT & WHITNEY 23
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(UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 RAYTHEON Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $6,945 $8,269 $8,031 $6,340 $7,001 $7,045 $7,657 $28,043 OPERATING PROFIT $841 $1,042 $1,133 $678 $805 $859 $885 $3,227 RESTRUCTURING (4) (1) (1) — (4) — — (4) ADJUSTED OPERATING PROFIT $845 $1,043 $1,134 $678 $809 $859 $885 $3,231 ADJUSTED OPERATING PROFIT MARGIN 12.2% 12.6% 14.1% 10.7% 11.6% 12.2% 11.6% 11.5% TOTAL OPERATING PROFIT ADJUSTMENTS ($4) ($1) ($1) $— ($4) $— $— ($4) RAYTHEON RTX: reconciliation of GAAP to adjusted 24
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NON-SEGMENT OPERATING PROFIT (LOSS) (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 ELIMINATIONS AND OTHER Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES ($644) ($660) ($679) ($617) ($673) ($611) ($651) ($2,552) OPERATING PROFIT (LOSS) $38 $98 $110 $12 $24 ($14) $32 $54 GAINS ON INVESTMENTS — 70 159 — 41 — — 41 ADJUSTED OPERATING PROFIT (LOSS) $38 $28 ($49) $12 ($17) ($14) $32 $13 CORPORATE AND OTHER UNALLOCATED ITEMS OPERATING LOSS ($42) ($70) ($26) ($38) ($47) ($25) ($138) ($248) RESTRUCTURING (1) (8) (1) (9) — (2) (6) (17) TAX AUDIT SETTLEMENTS AND CLOSURES — — — — (5) — — (5) LITIGATION MATTER — (69) — — — — — — ADJUSTED OPERATING PROFIT (LOSS) ($41) $7 ($25) ($29) ($42) ($23) ($132) ($226) FAS/CAS OPERATING ADJUSTMENT OPERATING PROFIT $172 $171 $171 $185 $186 $199 $183 $753 ACQUISITION ACCOUNTING ADJUSTMENTS OPERATING LOSS ($471) ($474) ($448) ($470) ($487) ($507) ($541) ($2,005) ACQUISITION ACCOUNTING ADJUSTMENTS (471) (474) (448) (470) (487) (507) (541) (2,005) ADJUSTED OPERATING LOSS $— $— $— $— $— $— $— $— TOTAL OPERATING PROFIT (LOSS) ADJUSTMENTS – ELIMINATIONS AND OTHER $— $70 $159 $— $41 $— $— $41 TOTAL OPERATING PROFIT (LOSS) ADJUSTMENTS – CORPORATE AND OTHER UNALLOCATED ITEMS ($1) ($77) ($1) ($9) ($5) ($2) ($6) ($22) TOTAL OPERATING LOSS ADJUSTMENTS – ACQUISITIONS ACCOUNTING ADJUSTMENTS ($471) ($474) ($448) ($470) ($487) ($507) ($541) ($2,005) RTX: reconciliation of GAAP to adjusted 25
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1 Refer to slides 22-24 for individual segment operating profit adjustments CONSOLIDATED INCOME, EARNINGS PER SHARE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 INCOME (EXPENSES) Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $2,059 $2,139 $2,583 $1,535 $1,657 $1,918 $1,622 $6,732 TOTAL RESTRUCTURING INCLUDED IN OPERATING PROFIT $3 ($75) $7 ($132) ($51) ($19) ($44) ($246) TOTAL ACQUISITION ACCOUNTING ADJUSTMENTS (471) (474) (448) (470) (487) (507) (541) (2,005) TOTAL NET SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN OPERATING PROFIT (1) — 1 (209) (26) (109) 83 214 162 SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN NON-SERVICE PENSION INCOME NON-SERVICE PENSION INCOME $355 $348 $345 $366 $351 $364 $101 $1,182 NON-SERVICE PENSION RESTRUCTURING (2) (2) (3) — — — — — PENSION SETTLEMENT CHARGE — — — — — — (260) (260) PENSION CURTAILMENT RELATED TO SALE OF BUSINESS — — — — — — (1) (1) ADJUSTED NON-SERVICE PENSION INCOME $357 $350 $348 $366 $351 $364 $362 $1,443 SIGNIFICANT NON-RECURRING AND NON-OPERATIONAL ITEMS INCLUDED IN INTEREST EXPENSE, NET INTEREST EXPENSE, NET ($390) ($417) ($381) ($443) ($457) ($449) ($400) ($1,749) TAX AUDIT SETTLEMENTS AND CLOSURES — — — 43 11 — — 54 INTERNATIONAL TAX MATTER — — — (35) — — 35 — ADJUSTED INTEREST EXPENSE, NET ($390) ($417) ($381) ($451) ($468) ($449) ($435) ($1,803) SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN INCOME TAX EXPENSE INCOME TAX EXPENSE ($363) ($493) ($593) ($333) ($315) ($432) ($584) ($1,664) TAX EFFECT OF RESTRUCTURING AND NET SIGNIFICANT AND/OR NON-RECURRING ITEMS ABOVE 104 110 145 138 142 50 108 438 TAX AUDIT SETTLEMENTS AND CLOSURES — — — 26 33 — — 59 ADJUSTED INCOME TAX EXPENSE ($467) ($603) ($738) ($497) ($490) ($482) ($692) ($2,161) LESS: IMPACT ON NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS (366) (440) (508) (456) (461) (393) (489) (1,799) ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $2,425 $2,579 $3,091 $1,991 $2,118 $2,311 $2,111 $8,531 DILUTED EARNINGS PER SHARE $1.51 $1.57 $1.89 $1.14 $1.22 $1.41 $1.19 $4.96 IMPACT ON DILUTED EARNINGS PER SHARE (0.27) (0.32) (0.37) (0.33) (0.34) (0.29) (0.36) (1.33) ADJUSTED DILUTED EARNINGS PER SHARE $1.78 $1.89 $2.26 $1.47 $1.56 $1.70 $1.55 $6.29 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING REPORTED DILUTED 1,364.6 1,365.0 1,368.1 1,351.8 1,354.0 1,358.4 1,361.7 1,356.4 IMPACT OF DILUTIVE SHARES — — — — — — — — ADJUSTED DILUTED 1,364.6 1,365.0 1,368.1 1,351.8 1,354.0 1,358.4 1,361.7 1,356.4 TOTAL NON-SERVICE PENSION INCOME ADJUSTMENTS ($2) ($2) ($3) $— $— $— ($261) ($261) TOTAL INTEREST EXPENSE ADJUSTMENTS $— $— $— $8 $11 $— $35 $54 TOTAL INCOME TAX ADJUSTMENTS $104 $110 $145 $164 $175 $50 $108 $497 RTX: reconciliation of GAAP to adjusted 26
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SEGMENT NET SALES AND OPERATING PROFIT AND MARGIN (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2026 2025 INCOME (EXPENSES) Q1 2026 Q2 2026 Q3 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 NET SALES $22,076 $24,708 $24,965 $20,306 $21,581 $22,478 $24,238 $88,603 RECONCILIATION TO SEGMENT NET SALES: ELIMINATIONS AND OTHER 644 660 679 617 673 611 651 2,552 SEGMENT NET SALES $22,720 $25,368 $25,644 $20,923 $22,254 $23,089 $24,889 $91,155 OPERATING PROFIT $2,555 $2,811 $3,337 $2,035 $2,146 $2,523 $2,596 $9,300 OPERATING PROFIT MARGIN 11.6% 11.4% 13.4% 10.0% 9.9% 11.2% 10.7% 10.5% RECONCILIATION TO SEGMENT OPERATING PROFIT: ELIMINATIONS AND OTHER (38) (98) (110) (12) (24) 14 (32) (54) CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS 42 70 26 38 47 25 138 248 FAS/CAS OPERATING ADJUSTMENT (172) (171) (171) (185) (186) (199) (183) (753) ACQUISITION ACCOUNTING ADJUSTMENTS 471 474 448 470 487 507 541 2,005 SEGMENT OPERATING PROFIT $2,858 $3,086 $3,530 $2,346 $2,470 $2,870 $3,060 $10,746 SEGMENT OPERATING PROFIT MARGIN 12.6% 12.2% 13.8% 11.2% 11.1% 12.4% 12.3% 11.8% RECONCILIATION TO ADJUSTED SEGMENT OPERATING PROFIT: RESTRUCTURING AND NET SIGNIFICANT AND/OR NON-RECURRING ITEMS (1) 4 (67) (360) (149) (196) 66 176 (103) ADJUSTED SEGMENT OPERATING PROFIT $2,854 $3,153 $3,890 $2,495 $2,666 $2,804 $2,884 $10,849 ADJUSTED SEGMENT OPERATING PROFIT MARGIN 12.6% 12.4% 15.2% 11.9% 12.0% 12.1% 11.6% 11.9% RTX: reconciliation of GAAP to adjusted 27 1 Refer to slides 22-24 for individual segment operating profit adjustments