Lockheed Martin Investor Presentation — June 2021

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UBS Global Industrials and

Transportation Conference

Virtual Tuesday, June 8, 2021

8:00 a.m. to 8:45 a.m. EDT

Chief Financial Officer

UBS Global Industrials and Transportation Virtual Conference

2Forward -Looking Statements

This presentation contains statements that, totheextent they arenotrecitations ofhistorical fact, constitute forward -looking statements within themeaning ofthefederal securities laws, andarebased on

Lockheed Martin’s current expectations andassumptions .Thewords “believe,” “estimate,” “anticipate,” “project,” “intend,” “expect,” “plan,” “outlook,” “scheduled,” “forecast” andsimilar expressions are

intended toidentify forward -looking statements .These statements arenotguarantees offuture performance andaresubject torisks anduncertainties .Actual results may differ materially duetofactors

such as:theimpact ofCOVID -19orfuture pandemics orepidemics onourbusiness, including thepotential forfacility closures orwork stoppages, supply chain disruptions, program delays, ourability to

recover ourcosts under contracts, andchanging government funding andacquisition priorities andpayment policies andregulations ;ourreliance oncontracts with theU.S.Government, which are

conditioned upon theavailability offunding andcanbeterminated bytheU.S.Government forconvenience, andourability tonegotiate favorable contract terms ;budget uncertainty, affordability initiatives

ortheriskoffuture budget cuts;risks related tothedevelopment, production, sustainment, performance, schedule, cost andrequirements ofcomplex andtechnologically advanced programs including our

largest, theF-35program ;planned production rates forsignificant programs ;compliance withstringent performance andreliability standards ;materials availability ;theperformance andfinancial viability of

keysuppliers, teammates, joint ventures, joint venture partners, subcontractors andcustomers ;economic, industry, business andpolitical conditions including their effects ongovernmental policy and

government actions thatdisrupt oursupply chain orprevent thesale ordelivery ofourproducts (such asdelays inobtaining Congressional approvals forexports requiring Congressional notification and

export license delays duetoCOVID -19);trade policies orsanctions (including potential Chinese sanctions onusoroursuppliers, teammates orpartners ;U.S.Government sanctions onTurkey andits

removal from theF-35program andpotential U.S.Government actions torestrict sales totheKingdom ofSaudi Arabia andtheUnited Arab Emirates) ;oursuccess expanding intoanddoing business in

adjacent markets andinternationally andthediffering risks posed byinternational sales ;changes inforeign national priorities andforeign government budgets ;thecompetitive environment forourproducts