Aerospace, Defense and Government Services Mergers and Acquisitions Report

Second 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 06/30/16

Second Quarter 2016

Last 52 Week Performance

(18.7%)

(15.2%)

(6.8%)

(6.2%)

(3.0%)

(2.0%)

(1.4%)

0.7%

1.0%

1.3%

2.3%

5.2%

7.2%

7.7%

10.3%

11.0%

11.2%

11.4%

14.9%

16.9%

18.1%

23.7%

25.2%

(60%)

(35%)

(10%)

15% 40%

Kratos

CACI

Leidos

FLIR

Booz

Orbital ATK

VSE

NCI

Cubic

S&P 500

Boeing

General Dynamics

Harris

SAIC

Raytheon

Northrop Grumman

Lockheed Martin

Teledyne

Engility

ICF

ManTech

L-3

Vectrus

KEYW

(35.7%)

(16.9%)

(15.8%)

(7.7%)

(7.0%)

(2.7%)

(0.4%)

1.0%

7.8%

10.8%

11.3%

11.4%

15.3%

15.7%

16.4%

17.3%

23.9%

26.6%

29.1%

31.9%

34.7%

38.8%

41.1%

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

10% 30% 50%