RTX Corp: 2025 2nd Quarter Earnings Call Highlights

RTX Corp: 2025 2nd Quarter Earnings Call Highlights

• 1. Earnings conference call 2 nd quarter 2025 © 2025 RTX Corporation. All rights reserved. July 22, 2025

• 2. 2 Forward looking statements Note: This press release contains statements which, to the extent they are not statements of historical or present fact, constitute “forward-looking statements” under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide RTX Corporation (“RTX”) management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid and are not statements of historical fact. Forward-looking statements can be identified by the use of words such as “believe,” “expect,” “expectations,” “plans,” “strategy,” “prospects,” “estimate,” “project,” “target,” “anticipate,” “will,” “should,” “see,” “guidance,” “outlook,” “goals,” “objectives,” “confident,” “on track,” “designed to, ” “commit,” “commitment” and other words of similar meaning. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax payments and rates, research and development spending, cost savings, other measures of financial performance, potential future plans, strategies or transactions, credit ratings and net indebtedness, the Pratt powder metal matter and related matters and activities, including without limitation other engine models that may be impacted, the merger (the “merger”) between United Technologies Corporation (“UTC”) and Raytheon Company (“Raytheon”) or the spin-offs by UTC of Otis Worldwide Corporation and Carrier Global Corporation into separate independent companies (the “separation transactions”) in 2020, the pending disposition of Collins’ actuation and flight control business, targets and commitments (including for share repurchases or otherwise), and other statements that are not solely historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of changes in economic, capital market and political conditions in the U.S. and globally, such as from the global sanctions and export controls with respect to Russia, and any changes therein, and including changes related to financial market conditions, banking industry disruptions, fluctuations in commodity prices or supply (including energy supply), inflation, interest rates and foreign currency exchange rates, disruptions in global supply chain and labor markets, levels of consumer and business confidence, the imposition and duration of tariffs (including counter tariffs) and other trade measures and the inability of RTX to mitigate U.S. tariffs and countermeasures including by exemptions, exclusions, operational changes or otherwise, and geopolitical risks, including, without limitation, in the Middle East and Ukraine; (2) risks associated with U.S. government sales, including changes or shifts in defense spending due to budgetary constraints, spending cuts resulting from sequestration, a continuing resolution, a government shutdown, the debt ceiling or measures taken to avoid default, or otherwise, and uncertain funding of programs; (3) risks relating to our performance on our contracts and programs, including our ability to control costs, the mix of our contracts and programs, and our inability to pass some or all of our costs on fixed price contracts to the customer, and risks related to our dependence on U.S. government approvals for international contracts; (4) challenges in the development, certification, production, delivery, support and performance of RTX advanced technologies and new products and services and the realization of the anticipated benefits (including our expected returns under customer contracts), as well as the challenges of operating in RTX’s highly-competitive industries both domestically and abroad; (5) risks relating to RTX’s reliance on U.S. and non-U.S. suppliers and commodity markets, including the effect of sanctions, tariffs (and counter tariffs) and other trade measures and the duration thereof, delays and disruptions in the delivery of materials and services to RTX or its suppliers and cost increases, and the inability of RTX to mitigate U.S. tariffs and countermeasures including by exemptions, exclusions, operational changes or otherwise; (6) risks relating to RTX international operations from, among other things, changes in trade policies and implementation of sanctions, foreign currency fluctuations, economic conditions, political factors, sales methods, U.S. or local government regulations, and our dependence on U.S. government approvals for international contracts; (7) the condition of the aerospace industry; (8) potential changes in U.S. government policy positions, including changes in DoD policies or priorities; (9) the ability of RTX to attract, train, qualify, and retain qualified personnel and maintain its culture and high ethical standards, and the ability of our personnel to continue to operate our facilities and businesses around the world; (10) the scope, nature, timing and challenges of managing acquisitions, investments, divestitures and other transactions, including the realization of synergies and opportunities for growth and innovation, the assumption of liabilities and other risks and incurrence of related costs and expenses, and risks related to completion of announced divestitures; (11) compliance with legal, environmental, regulatory and other requirements, including, among other things, obtaining regulatory approvals for new technologies and products and export and import requirements such as the International Traffic in Arms Regulations and the Export Administration Regulations, anti-bribery and anticorruption requirements, such as the Foreign Corrupt Practices Act, industrial cooperation agreement obligations, and procurement and other regulations in the U.S. and other countries in which RTX and its businesses operate; (12) the outcome of pending, threatened and future legal proceedings, investigations, and other contingencies, including those related to U.S. government audits and disputes and the potential for suspension or debarment of U.S. government contracting or export privileges as a result thereof; (13) risks relating to the previously-disclosed deferred prosecution agreements entered into between the Company and the Department of Justice (DOJ), the Securities and Exchange Commission (SEC) administrative order imposed on the Company, and the related investigations by the SEC and DOJ, and the consent agreement between the Company and the Department of State; (14) factors that could impact RTX’s ability to engage in desirable capital-raising or strategic transactions, including its credit rating, capital structure, levels of indebtedness, and related obligations, capital expenditures and research and development spending, and capital deployment strategy including with respect to share repurchases, and the availability of credit, borrowing costs, credit market conditions, and other factors; (15) uncertainties associated with the timing and scope of future repurchases by RTX of its common stock or declarations of cash dividends, which may be discontinued, accelerated, suspended or delayed at any time due to various factors, including market conditions and the level of other investing activities and uses of cash; (16) risks relating to realizing expected benefits from, incurring costs for, and successfully managing, strategic initiatives such as cost reduction, restructuring, digital transformation and other operational initiatives; (17) risks of additional tax exposures due to new tax legislation or other developments in the U.S. and other countries in which RTX and its businesses operate; (18) risks relating to addressing the identified rare condition in powder metal used to manufacture certain Pratt & Whitney engine parts requiring accelerated removals and inspections of a significant portion of the PW1100G-JM Geared Turbofan (GTF) fleet, including, without limitation, the number and expected timing of shop visits, inspection results and scope of work to be performed, turnaround time, availability of new parts, available capacity at overhaul facilities, outcomes of negotiations with impacted customers, and risks related to other engine models that may be impacted by the powder metal matter, and in each case the timing and costs relating thereto, as well as other issues that could impact RTX product performance, including quality, reliability or durability; (19) changes in production volumes of one or more of our significant customers as a result of business, labor, or other challenges, and the resulting effect on its or their demand for our products and services; (20) risks relating to an RTX product safety failure, quality issue or other failure affecting RTX’s or its customers’ or suppliers’ products or systems; (21) risks relating to cybersecurity, including cyber-attacks on RTX’s information technology infrastructure, products, suppliers, customers and partners, and cybersecurity-related regulations; (22) risks relating to insufficient indemnity or insurance coverage; (23) risks relating to artificial intelligence; (24) risks relating to our intellectual property and certain third-party intellectual property; (25) threats to RTX facilities and personnel, or those of its suppliers or customers, as well as other events outside of RTX’s control that may affect RTX or its suppliers or customers, including without limitation public health crises, damaging weather or other acts of nature; (26) the effect of changes in accounting estimates for our programs on our financial results; (27) the effect of changes in pension and other postretirement plan estimates and assumptions and contributions; (28) risks relating to an impairment of goodwill and other intangible assets; (29) the effects of climate change and changing climate-related regulations, customer and market demands, products and technologies; and (30) the intended qualification of (i) the merger as a tax-free reorganization and (ii) the separation transactions and other internal restructurings as tax-free to UTC and former UTC shareowners, in each case, for U.S. federal income tax purposes. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see the reports of RTX, UTC and Raytheon on Forms S-4, 10-K, 10-Q and 8-K filed with or furnished to the Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and RTX assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

• 3. 3 2Q 2025 highlights *See Appendix for additional information regarding these non-GAAP financial measures Increasing adjusted sales*, updating adjusted EPS*, and confirming free cash flow* outlook for 2025 Reflects strong first half performance and incorporates the expected impact of tariffs and changes associated with recently enacted tax legislation Capital Return Outlook Expect to return $37B of capital to shareowners from the date of the merger through 2025 ▲8% dividend increase in 2Q 2025 Adjusted sales* ▲9% organic* growth ▲16% commercial aftermarket growth $21.6B RTX backlog Pratt secured orders for over 1,000 GTF engines, Raytheon received over $5B of integrated air and missile defense awards $236B Adjusted segment profit* ▲12% growth* ▲30 bps of margin expansion* $2.7B

• 4. Strategic priorities Executing on our commitments • PW1100 MRO output on track for over a 30 percent improvement year-over-year • Leveraging CORE to significantly increase output on GEM-T, Coyote, and AMRAAM this year Innovating for future growth • Partnering with Shield AI to integrate AI-based capabilities into select products, including the Multi-Spectral Targeting System • Collaborating with Kongsberg to co-develop GhostEye subcomponents, building on the NASAMS solution Leveraging our breadth and scale • Proprietary data and AI platform supporting a 30 percent reduction in avionics software development times • Announced the divestiture of Collins' Simmonds Precision Products business • Completed the divestiture of Collins' Actuation business 4 Driving best-in-class performance through:

• 5. $0.5B ($0.1B) • 9% organic sales growth* ▲16% commercial aftermarket** ▲7% commercial OE** ▲6% defense** • 12% adjusted segment operating profit growth* with 30 bps of segment margin expansion* • $0.1B free cash outflow* impacted by the four week work stoppage that occurred at Pratt & Whitney 2Q 2025 results GAAP EPS EXCLUDES: Acq. Accounting Adj. ($0.29) ($0.28) Restructuring and Other1($1.04) ($0.06) CASH FLOW ADJUSTED EPS* ADJUSTED SALES* 9% Adjusted growth* 9% Organic growth* ▲$1.14 GAAP ▲11% Adjusted* Operating Cash Flow CapEx Free Cash Outflow* KEY TAKEAWAYS $19.7B $21.6B REPORTED SALES $19.8B $21.6B 2024 2025 $0.08 $1.22 2024 2025 $1.41 $1.56 2024 2025 *See Appendix for additional information regarding these non-GAAP financial measures **Excluding Acquisitions, Divestitures, and FX/Other 5 1 2Q 2024 includes legal and contract matters

• 6. *See Appendix for additional information regarding these non-GAAP financial measures RTX 2025 outlook ADJUSTED SALES* ▲ $84.75B - $85.5B Prior: $83.0B - $84.0B ORGANIC SALES GROWTH %* ▲ 6% - 7% Prior: 4% - 6% ADJUSTED EPS* ▼ $5.80 - $5.95 Prior: $6.00 - $6.15 FREE CASH FLOW* $7.0B - $7.5B Prior: $7.0B - $7.5B 6 KEY TAKEAWAYS • Strong first half operational performance and demand • Expected impact of tariffs • Changes associated with recently enacted tax legislation

• 7. ▲9% Adjusted sales* • Commercial aftermarket up 13%** • Defense up 11%** • Commercial OE up 1%** ▲9% Adjusted operating profit* • Higher commercial aftermarket and defense volume • Favorable defense mix • Lower R&D expense • Unfavorable commercial OE mix • Impact of higher tariffs ADJUSTED SALES* ADJUSTED OPERATING PROFIT* ADJUSTED ROS* *See Appendix for additional information regarding these non-GAAP financial measures **Excluding Acquisitions, Divestitures, and FX/Other Collins Aerospace 2Q 2025 results HIGHLIGHTS $6,999 $7,622 $1,118 $1,173 16.0% 15.4% REPORTED REPORTED REPORTED ($ millions) ▲9% Organic sales* $6,999 $7,622 2024 2025 $1,145 $1,249 2024 2025 16.4% 16.4% The U.S. Army selected Collins to upgrade the 2024 2025 avionics architecture for the UH-60M Black Hawk helicopter. This upgrade will leverage common software and hardware building blocks across the fleet and integrate an open systems architecture that improves mission capability and increases reliability. 7

• 8. ▲12% Adjusted sales* • Commercial aftermarket up 19% • Commercial OE up 15% • Military flat ▲13% Adjusted operating profit* • Favorable commercial OE mix • Higher commercial aftermarket volume • Lower R&D expense • Unfavorable commercial aftermarket mix • Impact of higher tariffs • Four week work stoppage ADJUSTED SALES* ADJUSTED OPERATING PROFIT* ADJUSTED ROS* *See Appendix for additional information regarding these non-GAAP financial measures Pratt & Whitney 2Q 2025 results HIGHLIGHTS ▲12% Organic sales* $6,802 $7,631 $542 $492 8.0% 6.4% REPORTED REPORTED REPORTED $6,802 $7,631 2024 2025 $537 $608 2024 2025 7.9% 8.0% 2024 2025 ($ millions) The GTF engine order backlog continues to grow with nearly 1,100 orders and commitments announced in the first half of the year, including Wizz Air's selection of the GTF engine for 177 A320neo family aircraft. 8

• 9. ▲6% Adjusted sales* • Higher volume on land and air defense systems • Higher volume on naval programs • Lower volume on air and space defense systems ▲14% Adjusted operating profit* • Favorable program mix, including international Patriot • Higher volume $63.5B Backlog • $1.2B Standard Missile III • $1.1B AIM-9X • $0.6B SPY-6 • 1.35 2Q book-to-bill • 1.49 rolling 12-month book-to-bill Raytheon 2Q 2025 results HIGHLIGHTS Raytheon was awarded a $1.1 billion contract from the U.S. Navy to produce AIM-9X Sidewinder Block II missiles. AIM-9X is the most advanced infrared-tracking, short-range, air-toair and surface-to-air missile that is combat proven in multiple theaters around the world. ADJUSTED SALES* ADJUSTED OPERATING PROFIT* ADJUSTED ROS* $6,511 $7,001 $127 $805 2.0% 11.5% ▲6% Organic sales* REPORTED REPORTED REPORTED *See Appendix for additional information regarding these non-GAAP financial measures $6,581 $7,001 2024 2025 $709 $809 2024 2025 10.8% 11.6% 2024 2025 ($ millions) 9

• 10. Solid second quarter results with strong momentum across RTX Driving strategic priorities across the company Key takeaways $236B backlog and well positioned to capitalize on growing end market demand Continuing targeted portfolio actions and on track to return $37B of capital since the merger 10

• 11. 11

• 12. Appendix 12

• 13. 1 Net significant and/or non-recurring items represent significant nonoperational items and/or significant operational items that may occur at irregular intervals. 2 Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant and equipment fair value adjustment acquired through acquisitions, the amortization of customer contractual obligations related to loss making or below market contracts acquired, and goodwill impairment, if applicable. 3 The FAS/CAS operating adjustment represents the difference between the service cost component of our pension and postretirement benefit (PRB) expense under the Financial Accounting Standards (FAS) requirements of GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our Raytheon segment. When we provide our expectation for adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), adjusted segment operating profit (loss) and margin percentage (ROS), adjusted EPS, adjusted effective tax rate, and free cash flow, on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures, as described above, generally are not available without unreasonable effort due to potentially high variability, complexity, and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results. RTX Corporation (“RTX” or “the Company”) reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that these non-GAAP measures provide investors with additional insight into the Company’s ongoing business performance. Other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. Certain non-GAAP financial adjustments are also described in this Appendix. To the right are our nonGAAP financial measures: NON-GAAP MEASURE DEFINITION Adjusted net sales / Adjusted sales Represents consolidated net sales (a GAAP measure), excluding net significant and/or non-recurring items1 (hereinafter referred to as “net significant and/or non-recurring items”). Organic sales Organic sales represents the change in consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and net significant and/or non-recurring items. Adjusted operating profit (loss) and margin percentage (ROS) Adjusted operating profit (loss) represents operating profit (loss) (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted operating profit margin percentage represents adjusted operating profit (loss) as a percentage of adjusted net sales. Segment operating profit (loss) and margin percentage (ROS) Segment operating profit (loss) represents operating profit (loss) (a GAAP measure) excluding acquisition accounting adjustments2, the FAS/ CAS operating adjustment3, Corporate expenses and other unallocated items, and Eliminations and other. Segment operating profit margin percentage represents segment operating profit (loss) as a percentage of segment sales (net sales, excluding Eliminations and other). Adjusted segment sales Represents consolidated net sales (a GAAP measure) excluding eliminations and other and net significant and/or non-recurring items. Adjusted segment operating profit (loss) and margin percentage (ROS) Adjusted segment operating profit (loss) represents segment operating profit (loss) excluding restructuring costs, and net significant and/or nonrecurring items. Adjusted segment operating profit margin percentage represents adjusted segment operating profit (loss) as a percentage of adjusted segment sales (adjusted net sales excluding Eliminations and other). Adjusted net income Adjusted net income represents net income (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2 , and net significant and/or non-recurring items. Adjusted earnings per share (EPS) Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Adjusted effective tax rate Adjusted effective tax rate represents the effective tax rate (a GAAP measure), excluding the tax impact of restructuring costs, acquisition accounting adjustments2, and net significant and/or non-recurring items. Free cash flow Free cash flow represents cash flow from operations (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing RTX’s ability to fund its activities, including the financing of acquisitions, debt service, repurchases of RTX’s common stock, and distribution of earnings to shareowners. Use and definitions of non-GAAP financial measures 13

• 14. *See Appendix for additional information regarding these non-GAAP financial measures 14 ADJUSTED SALES VPY%* ORGANIC SALES VPY%* ADJUSTED OPERATING PROFIT VPY* ($M) COLLINS AEROSPACE Current Prior Up mid-single digits1 Up low-single digits1 Up high-single digits Up mid-single digits $275 - $3501 $500 - $6001 PRATT & WHITNEY Current Prior Up low double digits Up high-single digits Up low double digits Up high-single digits $200 - $275 $325 - $400 RAYTHEON Current Prior Up low-single digits Up low-single digits Up mid-single digits Up mid-single digits $225 - $300 $150 - $225 1Actuation business sale completed in July 2025 2025 segment outlook

• 15. *All items on an adjusted basis **See Appendix for additional information regarding these non-GAAP financial measures 15 Additional 2025 items* ADJUSTED TAX RATE** ~19.5% INTEREST EXPENSE ~$1,850M CORPORATE EXPENSE AND OTHER UNALLOCATED ITEMS ~$200M - $225M FAS/CAS OPERATING ADJUSTMENT ~$700M NON-SERVICE PENSION INCOME ~$1,400M CAPEX SPENDING ~$2.5B - $2.7B Prior: ~19.5% Prior: ~$1,850M Prior: ~$200M - $225M Prior: ~$700M Prior: ~$1,400M Prior: ~$2.5B - $2.7B FY 2025 Outlook

• 16. 16 2024 2025 Q1 Q2 Q3 Q4 FY Q1 Q2 MILITARY 43 37 34 66 180 51 40 LARGE COMMERCIAL 232 236 252 276 996 250 227 PRATT & WHITNEY CANADA1496 474 521 587 2,078 518 521 1Excludes APUs RTX: P&W engine shipments to customers

• 17. 17 2Q 2025: RTX free cash flow reconciliation 2Q 2025 NET INCOME $1,725 DEPRECIATION & AMORTIZATION 1,076 CHANGE IN WORKING CAPITAL (2,176) OTHER (167) CASH FLOW FROM OPERATING ACTIVITIES $458 CAPITAL EXPENDITURES (530) FREE CASH FLOW ($72) ($ millions)

• 18. 2Q 2025: RTX sales reconciliation 18 TOTAL REPORTED CHANGE ACQUISITIONS & DIVESTITURES FX/OTHER ORGANIC CHANGE 2Q 2024 ADJUSTED SALES1 ORGANIC CHANGE AS A % OF ADJUSTED SALES COLLINS AEROSPACE $623 ($31) $23 $631 $6,999 9% PRATT & WHITNEY 829 — 18 811 6,802 12% RAYTHEON 490 — 75 415 6,581 6% ELIMS & OTHER (82) 1 (9) (74) (591) 13% TOTAL $1,860 ($30) $107 $1,783 $19,791 9% 1 For the full non-GAAP reconciliation of our sales refer to slide 20 ($ millions)

• 19. 19 RTX: restructuring costs ($ MILLIONS) 2025 2024 RESTRUCTURING IMPACT TO: Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 OPERATING PROFIT (LOSS) COLLINS AEROSPACE ($113) ($39) ($6) ($12) ($12) ($17) ($47) PRATT & WHITNEY (10) (8) (18) (15) (13) (56) (102) RAYTHEON — (4) (9) (7) (14) (6) (36) TOTAL SEGMENT OPERATING PROFIT (LOSS) (123) (51) (33) (34) (39) (79) (185) CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS (9) — (1) (2) (6) — (9) TOTAL CONSOLIDATED OPERATING PROFIT (LOSS) (132) (51) (34) (36) (45) (79) (194) NON-SERVICE PENSION INCOME — — (2) (3) (4) — (9) INCOME BEFORE INCOME TAXES ($132) ($51) ($36) ($39) ($49) ($79) ($203)

• 20. 1 For the full non-GAAP reconciliation of our segment net sales and operating profit, refer to slides 22-24. For the full reconciliation of our non-operating results, net income and EPS refer to slide 26 RTX: 2024 reported to adjusted ($ MILLIONS) REPORTED (UNAUDITED) RESTRUCTURING & NET SIGNIFICANT AND/OR NON-RECURRING ITEMS1 ADJUSTED1 (UNAUDITED) NET SALES Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 COLLINS AEROSPACE $6,673 $6,999 $7,075 $7,537 $28,284 $— $— $— $— $— $6,673 $6,999 $7,075 $7,537 $28,284 PRATT & WHITNEY 6,456 6,802 7,239 7,569 28,066 — — — — — 6,456 6,802 7,239 7,569 28,066 RAYTHEON 6,659 6,511 6,386 7,157 26,713 — (70) — — (70) 6,659 6,581 6,386 7,157 26,783 TOTAL SEGMENT NET SALES 19,788 20,312 20,700 22,263 83,063 — (70) — — (70) 19,788 20,382 20,700 22,263 83,133 ELIMINATIONS AND OTHER (483) (591) (611) (640) (2,325) — — — — — (483) (591) (611) (640) (2,325) CONSOLIDATED NET SALES $19,305 $19,721 $20,089 $21,623 $80,738 $— ($70) $— $— ($70) $19,305 $19,791 $20,089 $21,623 $80,808 OPERATING PROFIT (LOSS) COLLINS AEROSPACE $849 $1,118 $1,062 $1,106 $4,135 ($199) ($27) ($34) ($101) ($361) $1,048 $1,145 $1,096 $1,207 $4,496 PRATT & WHITNEY 412 542 557 504 2,015 (18) 5 (40) (213) (266) 430 537 597 717 2,281 RAYTHEON 996 127 647 824 2,594 366 (582) (14) 96 (134) 630 709 661 728 2,728 TOTAL SEGMENT OPERATING PROFIT 2,257 1,787 2,266 2,434 8,744 149 (604) (88) (218) (761) 2,108 2,391 2,354 2,652 9,505 ELIMINATIONS AND OTHER (5) (36) (14) 7 (48) — — — — — (5) (36) (14) 7 (48) CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS (96) (930) 100 (7) (933) (71) (923) 171 (3) (826) (25) (7) (71) (4) (107) FAS/CAS OPERATING ADJUSTMENT 214 212 210 197 833 — — — — — 214 212 210 197 833 ACQUISITION ACCOUNTING ADJUSTMENTS (500) (504) (534) (520) (2,058) (500) (504) (534) (520) (2,058) — — — — — CONSOLIDATED OPERATING PROFIT $1,870 $529 $2,028 $2,111 $6,538 ($422) ($2,031) ($451) ($741) ($3,645) $2,292 $2,560 $2,479 $2,852 $10,183 NON-SERVICE PENSION INCOME ($386) ($374) ($374) ($384) ($1,518) ($7) $3 $4 $— $— ($379) ($377) ($378) ($384) ($1,518) INTEREST EXPENSE, NET 405 475 496 486 1,862 (78) — 11 — (67) 483 475 485 486 1,929 INCOME BEFORE INCOME TAXES 1,851 428 1,906 2,009 6,194 (337) (2,034) (466) (741) (3,578) 2,188 2,462 2,372 2,750 9,772 INCOME TAX EXPENSE 108 253 371 449 1,181 (255) (257) 8 (152) (656) 363 510 363 601 1,837 NET INCOME 1,743 175 1,535 1,560 5,013 (82) (1,777) (474) (589) (2,922) 1,825 1,952 2,009 2,149 7,935 LESS: NONCONTROLLING INTEREST IN SUBSIDARIES’ EARNINGS 34 64 63 78 239 — 7 2 — 9 34 57 61 78 230 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $1,709 $111 $1,472 $1,482 $4,774 ($82) ($1,784) ($476) ($589) ($2,931) $1,791 $1,895 $1,948 $2,071 $7,705 EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREOWNERS BASIC EARNINGS PER SHARE $1.29 $0.08 $1.10 $1.11 $3.58 $1.35 $1.42 $1.46 $1.55 $5.78 DILUTED EARNINGS PER SHARE $1.28 $0.08 $1.09 $1.10 $3.55 $1.34 $1.41 $1.45 $1.54 $5.73 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (MILLIONS) BASIC SHARES 1,329.4 1,331.8 1,333.2 1,334.4 1,332.1 1,329.4 1,331.8 1,333.2 1,334.4 1,332.1 DILUTED SHARES 1,337.3 1,342.1 1,346.2 1,348.9 1,343.6 1,337.3 1,342.1 1,346.2 1,348.9 1,343.6 20

• 21. RTX: 2025 reported to adjusted ($ MILLIONS) REPORTED (UNAUDITED) RESTRUCTURING & NET SIGNIFICANT AND/OR NON-RECURRING ITEMS1 ADJUSTED1 (UNAUDITED) NET SALES Q1 2025 Q2 2025 Q1 2025 Q2 2025 Q1 2025 Q2 2025 COLLINS AEROSPACE $7,217 $7,622 $— $— $7,217 $7,622 PRATT & WHITNEY 7,366 7,631 — — 7,366 7,631 RAYTHEON 6,340 7,001 — — 6,340 7,001 TOTAL SEGMENT NET SALES 20,923 22,254 — — 20,923 22,254 ELIMINATIONS AND OTHER (617) (673) — — (617) (673) CONSOLIDATED NET SALES $20,306 $21,581 $— $— $20,306 $21,581 OPERATING PROFIT (LOSS) COLLINS AEROSPACE $1,088 $1,173 ($139) ($76) $1,227 $1,249 PRATT & WHITNEY 580 492 (10) (116) 590 608 RAYTHEON 678 805 — (4) 678 809 TOTAL SEGMENT OPERATING PROFIT 2,346 2,470 (149) (196) 2,495 2,666 ELIMINATIONS AND OTHER 12 24 — 41 12 (17) CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS (38) (47) (9) (5) (29) (42) FAS/CAS OPERATING ADJUSTMENT 185 186 — — 185 186 ACQUISITION ACCOUNTING ADJUSTMENTS (470) (487) (470) (487) — — CONSOLIDATED OPERATING PROFIT $2,035 $2,146 ($628) ($647) $2,663 $2,793 NON-SERVICE PENSION INCOME ($366) ($351) $— $— ($366) ($351) INTEREST EXPENSE, NET 443 457 (8) (11) 451 468 INCOME BEFORE INCOME TAXES 1,958 2,040 (620) (636) 2,578 2,676 INCOME TAX EXPENSE 333 315 (164) (175) 497 490 NET INCOME 1,625 1,725 (456) (461) 2,081 2,186 LESS: NONCONTROLLING INTEREST IN SUBSIDIARIES’ EARNINGS 90 68 — — 90 68 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $1,535 $1,657 ($456) ($461) $1,991 $2,118 EARNINGS PER SHARE ATTRIBUTABLE TO COMMON SHAREOWNERS BASIC EARNINGS PER SHARE $1.15 $1.24 $1.49 $1.58 DILUTED EARNINGS PER SHARE $1.14 $1.22 $1.47 $1.56 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING (MILLIONS) BASIC SHARES 1,337.1 1,340.6 1,337.1 1,340.6 DILUTED SHARES 1,351.8 1,354.0 1,351.8 1,354.0 1 For the full non-GAAP reconciliation of our segment net sales and operating profit, refer to slides 22-24. For the full reconciliation of our non-operating results, net income and EPS refer to slide 26 21

• 22. 22 RTX: reconciliation of GAAP to adjusted COLLINS AEROSPACE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2025 2024 COLLINS AEROSPACE Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 NET SALES $7,217 $7,622 $6,673 $6,999 $7,075 $7,537 $28,284 OPERATING PROFIT $1,088 $1,173 $849 $1,118 $1,062 $1,106 $4,135 RESTRUCTURING (113) (39) (6) (12) (12) (17) (47) GAIN ON SALE OF BUSINESS, NET OF TRANSACTION AND OTHER RELATED COSTS — — — — — 99 99 CHARGE ASSOCIATED WITH INITIATING ALTERNATIVE TITANIUM SOURCES — — (175) — — — (175) SEGMENT AND PORTFOLIO TRANSFORMATION AND DIVESTITURE COSTS (26) (37) (18) (15) (22) (28) (83) IMPAIRMENT OF CONTRACT FULFILLMENT COSTS — — — — — (155) (155) ADJUSTED OPERATING PROFIT $1,227 $1,249 $1,048 $1,145 $1,096 $1,207 $4,496 ADJUSTED OPERATING PROFIT MARGIN 17.0% 16.4% 15.7% 16.4% 15.5% 16.0% 15.9% TOTAL OPERATING PROFIT ADJUSTMENTS ($139) ($76) ($199) ($27) ($34) ($101) ($361)

• 23. 23 RTX: reconciliation of GAAP to adjusted (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2025 2024 PRATT & WHITNEY Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 NET SALES $7,366 $7,631 $6,456 $6,802 $7,239 $7,569 $28,066 OPERATING PROFIT $580 $492 $412 $542 $557 $504 $2,015 RESTRUCTURING (10) (8) (18) (15) (13) (56) (102) INSURANCE SETTLEMENT — — — 20 7 — 27 EXPECTED SETTLEMENT OF A LITIGATION MATTER — — — — (34) — (34) CUSTOMER BANKRUPTCY — (108) — — — (157) (157) ADJUSTED OPERATING PROFIT $590 $608 $430 $537 $597 $717 $2,281 ADJUSTED OPERATING PROFIT MARGIN 8.0% 8.0% 6.7% 7.9% 8.2% 9.5% 8.1% TOTAL OPERATING PROFIT ADJUSTMENTS ($10) ($116) ($18) $5 ($40) ($213) ($266) PRATT & WHITNEY

• 24. (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2025 2024 RAYTHEON Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 NET SALES $6,340 $7,001 $6,659 $6,511 $6,386 $7,157 $26,713 CONTRACT TERMINATION — — — (70) — — (70) ADJUSTED NET SALES $6,340 $7,001 $6,659 $6,581 $6,386 $7,157 $26,783 OPERATING PROFIT $678 $805 $996 $127 $647 $824 $2,594 RESTRUCTURING — (4) (9) (7) (14) (6) (36) GAIN ON SALE OF BUSINESS, NET OF TRANSACTION AND OTHER RELATED COSTS — — 375 — — — 375 CONTRACT TERMINATION — — — (575) — — (575) MIDDLE EAST CONTRACTS RESTART ADJUSTMENTS — — — — — 102 102 ADJUSTED OPERATING PROFIT $678 $809 $630 $709 $661 $728 $2,728 ADJUSTED OPERATING PROFIT MARGIN 10.7% 11.6% 9.5% 10.8% 10.4% 10.2% 10.2% TOTAL NET SALES ADJUSTMENTS $— $— $— ($70) $— $— ($70) TOTAL OPERATING PROFIT ADJUSTMENTS — (4) $366 ($582) ($14) $96 ($134) 24 RAYTHEON RTX: reconciliation of GAAP to adjusted

• 25. NON-SEGMENT OPERATING PROFIT (LOSS) (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2025 2024 ELIMINATIONS AND OTHER Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 NET SALES ($617) ($673) ($483) ($591) ($611) ($640) ($2,325) OPERATING PROFIT (LOSS) $12 $24 ($5) ($36) ($14) $7 ($48) GAIN ON INVESTMENT — 41 — — — — — ADJUSTED OPERATING PROFIT (LOSS) $12 ($17) ($5) ($36) ($14) $7 ($48) CORPORATE AND OTHER UNALLOCATED ITEMS OPERATING PROFIT (LOSS) ($38) ($47) ($96) ($930) $100 ($7) ($933) RESTRUCTURING (9) — (1) (2) (6) — (9) TAX AUDIT SETTLEMENTS AND CLOSURES — (5) (68) — — — (68) SEGMENT AND PORTFOLIO TRANSFORMATION AND DIVESTITURE COSTS — — (2) (3) (3) (3) (11) LEGAL MATTERS — — — (918) — — (918) TAX MATTERS AND RELATED INDEMNIFICATION — — — — 180 — 180 ADJUSTED OPERATING LOSS ($29) ($42) ($25) ($7) ($71) ($4) ($107) FAS/CAS OPERATING ADJUSTMENT OPERATING PROFIT $185 $186 $214 $212 $210 $197 $833 ACQUISITION ACCOUNTING ADJUSTMENTS OPERATING LOSS ($470) ($487) ($500) ($504) ($534) ($520) ($2,058) ACQUISITION ACCOUNTING ADJUSTMENTS (470) (487) (500) (504) (534) (520) (2,058) ADJUSTED OPERATING PROFIT (LOSS) $— $— $— $— $— $— $— TOTAL OPERATING PROFIT (LOSS) ADJUSTMENTS – ELIMINATIONS AND OTHER $— $41 $— $— $— $— $— TOTAL OPERATING PROFIT (LOSS) ADJUSTMENTS – CORPORATE AND OTHER UNALLOCATED ITEMS ($9) ($5) ($71) ($923) $171 ($3) ($826) TOTAL OPERATING PROFIT (LOSS) ADJUSTMENTS – ACQUISITIONS ACCOUNTING ADJUSTMENTS ($470) ($487) ($500) ($504) ($534) ($520) ($2,058) RTX: reconciliation of GAAP to adjusted 25

• 26. 1 Refer to slides 22-24 for individual segment operating profit adjustments CONSOLIDATED INCOME, EARNINGS PER SHARE (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2025 2024 INCOME (EXPENSES) Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $1,535 $1,657 $1,709 $111 $1,472 $1,482 $4,774 TOTAL RESTRUCTURING INCLUDED IN OPERATING PROFIT ($132) ($51) ($34) ($36) ($45) ($79) ($194) TOTAL ACQUISITION ACCOUNTING ADJUSTMENTS (470) (487) (500) (504) (534) (520) (2,058) TOTAL NET SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN OPERATING PROFIT (1) (26) (109) 112 (1,491) 128 (142) (1,393) SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN NON-SERVICE PENSION INCOME NON-SERVICE PENSION INCOME $366 $351 $386 $374 $374 $384 $1,518 NON-SERVICE PENSION RESTRUCTURING — — (2) (3) (4) — (9) PENSION CURTAILMENT RELATED TO SALE OF BUSINESS — — 9 — — — 9 ADJUSTED NON-SERVICE PENSION INCOME $366 $351 $379 $377 $378 $384 $1,518 SIGNIFICANT NON-RECURRING AND NON-OPERATIONAL ITEMS INCLUDED IN INTEREST EXPENSE, NET INTEREST EXPENSE, NET ($443) ($457) ($405) ($475) ($496) ($486) ($1,862) TAX AUDIT SETTLEMENTS AND CLOSURES 43 11 78 — — — 78 TAX MATTERS AND RELATED INDEMNIFICATION — — — — (11) — (11) INTERNATIONAL TAX MATTER (35) — — — — — — ADJUSTED INTEREST EXPENSE, NET ($451) ($468) ($483) ($475) ($485) ($486) ($1,929) SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN INCOME TAX EXPENSE INCOME TAX EXPENSE ($333) ($315) ($108) ($253) ($371) ($449) ($1,181) TAX EFFECT OF RESTRUCTURING AND NET SIGNIFICANT AND/OR NON-RECURRING ITEMS ABOVE 138 142 (41) 257 148 152 516 TAX AUDIT SETTLEMENTS AND CLOSURES 26 33 296 — — — 296 TAX MATTERS AND RELATED INDEMNIFICATION — — — — (156) — (156) ADJUSTED INCOME TAX EXPENSE ($497) ($490) ($363) ($510) ($363) ($601) ($1,837) SIGNIFICANT AND/OR NON-RECURRING ITEMS INCLUDED IN NONCONTROLLING INTEREST NONCONTROLLING INTEREST IN SUBSIDARIES’ EARNINGS $90 $68 $34 $64 $63 $78 $239 ADJUSTMENTS TO NONCONTROLLING INTEREST — — — 7 2 — 9 ADJUSTED NONCONTROLLING INTEREST IN SUBSIDIARIES’ EARNINGS $90 $68 $34 $57 $61 $78 $230 LESS: IMPACT ON NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS (456) (461) (82) (1,784) (476) (589) (2,931) ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $1,991 $2,118 $1,791 $1,895 $1,948 $2,071 $7,705 DILUTED EARNINGS PER SHARE $1.14 $1.22 $1.28 $0.08 $1.09 $1.10 $3.55 IMPACT ON DILUTED EARNINGS PER SHARE (0.33) (0.34) (0.06) (1.33) (0.36) (0.44) (2.18) ADJUSTED DILUTED EARNINGS PER SHARE $1.47 $1.56 $1.34 $1.41 $1.45 $1.54 $5.73 WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING REPORTED DILUTED 1,351.8 1,354.0 1,337.3 1,342.1 1,346.2 1,348.9 1,343.6 TOTAL NON-SERVICE PENSION INCOME ADJUSTMENTS $— $— $7 ($3) ($4) $— $— TOTAL INTEREST EXPENSE ADJUSTMENTS $8 $11 $78 $— ($11) $— $67 TOTAL INCOME TAX ADJUSTMENTS $164 $175 $255 $257 ($8) $152 $656 TOTAL NONCONTROLLING INTEREST ADJUSTMENTS $— $— $— $7 $2 $— $9 RTX: reconciliation of GAAP to adjusted 26

• 27. 27 SEGMENT NET SALES AND OPERATING PROFIT AND MARGIN (UNAUDITED) (UNAUDITED) ($ MILLIONS) 2025 2024 INCOME (EXPENSES) Q1 2025 Q2 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 NET SALES $20,306 $21,581 $19,305 $19,721 $20,089 $21,623 $80,738 RECONCILIATION TO SEGMENT NET SALES: ELIMINATIONS AND OTHER 617 673 483 591 611 640 2,325 SEGMENT NET SALES 20,923 22,254 19,788 20,312 20,700 22,263 83,063 RECONCILIATION TO ADJUSTED SEGMENT NET SALES: NET SIGNIFICANT AND/OR NON-RESTRUCTURING ITEMS (1) — — — (70) — — (70) ADJUSTED SEGMENT NET SALES $20,923 $22,254 $19,788 $20,382 $20,700 $22,263 $83,133 OPERATING PROFIT $2,035 $2,146 $1,870 $529 $2,028 $2,111 $6,538 OPERATING PROFT MARGIN 10.0% 9.9% 9.7% 2.7% 10.1% 9.8% 8.1% RECONCILIATION TO SEGMENT OPERATING PROFIT: ELIMINATIONS AND OTHER (12) (24) 5 36 14 (7) 48 CORPORATE EXPENSES AND OTHER UNALLOCATED ITEMS 38 47 96 930 (100) 7 933 FAS/CAS OPERATING ADJUSTMENT (185) (186) (214) (212) (210) (197) (833) ACQUISITION ACCOUNTING ADJUSTMENTS 470 487 500 504 534 520 2,058 SEGMENT OPERATING PROFIT 2,346 2,470 2,257 1,787 2,266 2,434 8,744 SEGMENT OPERATING PROFIT MARGIN 11.2% 11.1% 11.4% 8.8% 10.9% 10.9% 10.5% RECONCILIATION TO ADJUSTED SEGMENT OPERATING PROFIT: RESTRUCTURING AND NET SIGNIFICANT AND/OR NON-RECURRING ITEMS (1) (149) (196) 149 (604) (88) (218) (761) ADJUSTED SEGMENT OPERATING PROFIT $2,495 $2,666 $2,108 $2,391 $2,354 $2,652 $9,505 ADJUSTED SEGMENT OPERATING PROFIT MARGIN 11.9% 12.0% 10.7% 11.7% 11.4% 11.9% 11.4% RTX: reconciliation of GAAP to adjusted 1 Refer to slides 22-24 for individual segment net sales and operating profit adjustments