Lockheed Martin Investor Presentation — May 2019

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Executive Vice President and Chief Financial OfficerGoldman Sachs Industrials & Materials

Thursday, May 16, 20192Forward-Looking Statements

This presentation contains statements that, to the extent they are not recitations of historical fact, constitute forward- lookin g statements within the meaning of the federal securities laws, and are based on Lockheed Martin’s current

expectations and assumptions. The words “believe,” “estimate,” “anticipate,” “project,” “intend,” “expect,” “plan,” “outlook, ” “scheduled,” “forecast” and similar expressions are intended to identify forward- looking statements. These

statements are not guarantees of future performance and are subject to risks and uncertainties. Actual results may differ materi ally due to factors such as: the corporation’s reliance on contracts with the U.S. Government, which are

conditioned upon the availability of funding and can be terminated by the U.S. Government for convenience, and the corporatio n’sability to negotiate favorable contract terms; budget uncertainty; affordability initiatives; the risk of future

sequestration under the Budget Control Act of 2011 or other budget cuts; the impact of any future government shutdowns (including the potential that the corporation works on unfunded contracts to preserve their cost and/or

schedule); continuing delay in obtaining export approvals from the Department of State resulting from the prior shutdown and staffing shortages; or the potential that DoD funds are repurposed; risks related to the development, production, sustainment, performance, schedule, cost and requirements of complex and technologically advanced programs includ ingthe corporation’s largest, the F -35program; economic, industry, business and political conditions

including their effects on governmental policy (including government actions to prevent the sale or delivery of the corporation' s products, such as delays in obtaining Congressional approvals for exports requiring Congressional

notification to the Kingdom of Saudi Arabia, the United Arab Emirates and Turkey and the Pentagon's decision to suspend the sale s of F -35 aircraft to Turkey), or other trade policies or sanctions (including potential sanctions on the

Kingdom of Saudi Arabia); the corporation's success expanding into and doing business in adjacent markets and internationally ; the differing risks posed by international sales, including those involving commercial relationships with

unfamiliar customers and different cultures; its ability to recover investments, which is frequently dependent upon the succe ssful operation of ventures that it does not control; and changes in foreign national priorities, and foreign

government budgets; the competitive environment for the corporation’s products and services, including increased pricing pressur es, aggressive pricing in the absence of cost realism evaluation criteria, competition from outside the