Aerospace, Defense and Government Services Mergers and Acquisitions Report

First Quarter 2016

Defense Prime Index

Defense Systems Index Diversified Government Services Index

Middle Market Government Services Index

S&P 500 Index

Capital Markets: Stock Performance

(Defense and Gov. Services)

Source: Public Filings; Capital IQ as of 03/31/16

(40.5%)

(15.7%)

(11.2%)

(9.7%)

(7.0%)

(3.5%)

(2.6%)

0.0%

0.1%

0.6%

0.9%

1.0%

2.3%

3.9%

4.3%

5.5%

9.7%

9.9%

14.3%

14.6%

19.1%

21.6%

21.8%

(60%)

(35%)

(10%)

15% 40%

Engility

Cubic

Harris

Boeing

Leidos

General Dynamics

Orbital ATK

Raytheon

ICF

Teledyne

Booz

L-3

S&P 500

Lockheed Martin

NCI

Northrop Grumman

ManTech

VSE

KEYW

Vectrus

FLIR

CACI

Kratos

SAIC

First Quarter 2016

Last 52 Week Performance

(38.7%)

(22.1%)

(20.9%)

(18.4%)

(18.1%)

(17.4%)

(14.6%)

(11.3%)

(9.3%)

(5.4%)

(5.2%)

(1.9%)

(0.9%)

0.0%

2.1%

4.1%

5.8%

11.4%

13.1%

14.0%

19.9%

23.3%

42.1%

(70%) (50%) (30%) (10%)

10% 30% 50%