Lockheed Martin Investor Presentation — June 2022

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Bernstein 38thAnnual

Strategic Decisions Conference

Thursday, June 2, 2022

9:00 a.m. to 9:50 a.m. EDT

Chairman, President and CEO Jim Taiclet

Chief Financial Officer Jay MalaveBernstein 38thAnnual Strategic Decisions Conference

2Forward -Looking Statements

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

onLockheed Martin’s current expectations and assumptions .The words “believe,” “estimate,” “anticipate,” “project,” “intend,” “expect,” “plan,” “outlook,” “scheduled,” “forecast” and similar expressions

areintended toidentify forward -looking statements .These statements arenotguarantees offuture performance and aresubject torisks and uncertainties .Actual results may differ materially due to

factors such as:theimpact ofCOVID -19orfuture epidemics onthecompany’s business, including supply chain disruptions and delays, labor challenges associated with employee absences, travel

restrictions, siteaccess, program delays, changes incustomer payment policies and theimpacts ofpotential vaccine mandates orother requirements ;budget uncertainty, theriskoffuture budget cuts,

thedebt ceiling and thepotential forgovernment shutdowns and changing funding and acquisition priorities ;thecompany’s reliance oncontracts with theU.S.Government, which aredependent on

U.S.Government funding and can beterminated forconvenience, and thecompany’s ability tonegotiate favorable contract terms ;risks related tothedevelopment, production, sustainment,

performance, schedule, cost and requirements ofcomplex and technologically advanced programs including theF-35program ;planned production rates and orders forsignificant programs ,

compliance with stringent performance and reliability standards ,and materials availability ;performance and financial viability ofkeysuppliers, teammates, joint ventures and partners, subcontractors

and customers ;economic, industry, business and political conditions including their effects ongovernmental policy and government actions that disrupt thecompany’s supply chain orprevent thesale

ordelivery ofitsproducts (such asdelays inapprovals forexports requiring Congressional notification) ;trade policies orsanctions (including potential Chinese sanctions onthecompany orits

suppliers, teammates orpartners, U.S.Government sanctions onTurkey and itsremoval from theF-35program, and potential indirect effects ofsanctions onRussia) ;thecompany’s success

expanding intoand doing business inadjacent markets and internationally and thediffering risks posed byinternational sales ;changes inforeign national priorities and foreign government budgets and