L3Harris Reports First Quarter 2020 Results and Updates Outlook

1In this release, "pro forma" refers to the applicable prior-year result in the pro forma condensed combined income statement information (prepared in a manner consistent with Article 11 of Regulation S-X) included in our Current Report on Form 8-K filed on May 5, 2020; and “adjusted pro forma" refers to such result as adjusted for certain item(s) indicated in the non-GAAP financial measure reconciliations in the tables.

2Excludes discontinued operations, as applicable, merger deal and integration costs, goodwill and other impairments and amortization of acquisition-related intangibles and other prior-period items; refer to non-GAAP financial measure reconciliations in the tables.

3Adjusted free cash flow is operating cash flows less capital expenditures and adjusted to add back cash flow for merger deal and integration costs; refer to non-GAAP financial measure reconciliations in the tables.

4Non-GAAP adjustments exclude discontinued operations, merger deal and integration costs, amortization of acquisition-related intangibles, impairment of goodwill and other assets and other COVID-19 related charges and other items; refer to non-GAAP financial measure reconciliations in the tables.

5Non-GAAP adjustments exclude impairment of goodwill and other assets and other COVID-19-related charges; refer to non-GAAP financial measure reconciliations in the tables.

6Adjusted free cash flow is operating cash flow less capital expenditures and adjusted to add back cash flow for merger deal and integration costs; refer to non-GAAP financial measure reconciliations in the tables.

7In this release, "pro forma" means results developed from condensed combined income statement information prepared in a manner consistent with Article 11 of Regulation S-X, which is contained in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 5, 2020 and is incorporated herein by reference. "Adjusted pro forma" means pro forma results adjusted for certain items noted below: refer to non-GAAP financial measure reconciliations in the tables.

8Excludes discontinued operations, as applicable, and merger integration costs and amortization of acquisition-related intangibles; refer to non-GAAP financial measure reconciliations in the tables.



Contact:

Investor Relations Contact:
Rajeev Lalwani, 321-727-9383
rajeev.lalwani@l3harris.com

Media Relations Contact:
Jim Burke, 321-727-9131
jim.burke@l3harris.com



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