Lockheed Martin Investor Presentation — May 2020

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Chairman, President and Chief Executive OfficerBernstein’s 36thAnnual

Strategic Decisions Conference

Virtual -Wednesday, May 27, 2020

10:00 a.m. to 10:50 a.m.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,” “i ntend,” “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

materially due to factors such as: the impact of the COVID -19 outbreak or future epidemics on our business, including the potent ial for facility closures or work stoppages, supply chain

disruptions, program delays, our ability to recover our costs under contracts, changing government funding and acquisition pr iorities and payment policies and regulations; and potential impacts to

the fair value of our assets; our reliance on contracts with the U.S. Government, which are conditioned upon the availability offunding and can be terminated by the U.S. Government for

convenience, and our ability to negotiate favorable contract terms; budget uncertainty, affordability initiatives or the risk offuture budget cuts; risks related to the development, production,

sustainment, performance, schedule, cost and requirements of complex and technologically advanced programs including our largest , the F -35program; planned production rates for significant

programs; compliance with stringent performance and reliability standards; materials availability; the performance and financ ialviability of key suppliers, teammates, joint ventures, joint venture

partners, subcontractors and customers; economic, industry, business and political conditions including their effects on governm ental policy and government actions that disrupt our supply chain

or prevent the sale or delivery of our products (such as delays in obtaining Congressional approvals for exports requiring Congr essional notification and export license delays due to COVID -19);

trade policies or sanctions (including Turkey’s removal from the F -35 program, the impact of U.S. Government sanctions on Turkey and potential sanctions on the Kingdom of Saudi Arabia); our

success expanding into and doing business in adjacent markets and internationally and the differing risks posed by international sales; changes in foreign national priorities and foreign