RTX Reports 2025 Results and Announces 2026 Outlook

RTX delivers strong 2025 sales, EPS, and free cash flow;*

Expects continued sales, earnings, and cash flow growth in 2026

RTX (NYSE: RTX) reports fourth quarter and full year 2025 results, and announces 2026 outlook.

Fourth quarter 2025

— Sales of $24.2 billion, up 12 percent versus prior year, and up 14 percent organically*

— GAAP EPS of $1.19, including $0.31 of acquisition accounting adjustments, $0.02 of restructuring, and $0.03 of other net significant and/or non-recurring items

— Adjusted EPS* of $1.55, up 1 percent versus prior year

— Operating cash flow of $4.2 billion; free cash flow* of $3.2 billion

— Company backlog of $268 billion, including $161 billion of commercial and $107 billion of defense

— Completed the divestiture of Collins' Simmonds Precision Products business

Full year 2025

— Sales of $88.6 billion, up 10 percent versus prior year, and up 11 percent organically*

— GAAP EPS of $4.96, including $1.15 of acquisition accounting adjustments, $0.14 of restructuring, and $0.04 of other net significant and/or non-recurring items

— Adjusted EPS* of $6.29, up 10 percent versus prior year

— Operating cash flow of $10.6 billion; free cash flow* of $7.9 billion, up $3.4 billion versus prior year

Outlook for full year 2026

— Adjusted sales* of $92.0 to $93.0 billion

— Organic sales growth* of 5 to 6 percent

— Adjusted EPS* of $6.60 – $6.80

— Free cash flow* of $8.25 – $8.75 billion

“RTX delivered strong sales, adjusted EPS* and free cash flow* in 2025, enabled by our continued focus on operational performance and execution,” said RTX Chairman and CEO Chris Calio.

“We enter 2026 with great momentum and are well positioned to deliver our 2026 financial outlook. We remain focused on investing in new capabilities, expanding production capacity, and executing on our backlog to meet the growing needs of our customers.”

Fourth quarter 2025RTX fourth quarter reported and adjusted sales were $24.2 billion, up 12 percent over the prior year. GAAP EPS of $1.19 included $0.31 of acquisition accounting adjustments, $0.02 of restructuring, and $0.03 of other net significant and/or non-recurring items. Adjusted EPS* of $1.55 was up 1 percent versus the prior year.

The company reported net income attributable to common shareowners in the fourth quarter of $1.6 billion which included $0.4 billion of acquisition accounting adjustments and $0.1 billion of restructuring and other net significant and/or non-recurring items. Adjusted net income* of $2.1 billion was up 2 percent versus the prior year driven by adjusted segment operating profit growth* across all three segments, partially offset by higher corporate expenses and taxes. Operating cash flow in the fourth quarter was $4.2 billion and capital expenditures were $1.0 billion, resulting in free cash flow* of $3.2 billion.

*Adjusted net sales (also referred to as adjusted sales), organic sales, adjusted operating profit (loss) and margin percentage (ROS), segment operating profit (loss) and margin percentage (ROS), adjusted segment sales, adjusted segment operating profit (loss) and margin percentage (ROS), adjusted net income, adjusted earnings per share (“EPS”), adjusted effective tax rate, and free cash flow are non-GAAP financial measures. When we provide our expectation for adjusted net sales (also referred to as adjusted sales), adjusted EPS and free cash flow on a forward-looking basis, a reconciliation of these non-GAAP financial measures to the corresponding GAAP measures (expected diluted EPS and expected cash flow from operations) is 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. See “Use and Definitions of Non-GAAP Financial Measures” below for information regarding non-GAAP financial measures.

Summary Financial Results 4th Quarter Twelve Months ($ in millions, except EPS) 2025 2024 % Change 2025 2024 % Change Reported Sales $24,238 $21,623 12 % $88,603 $80,738 10 % Net Income $1,622 $1,482 9 % $6,732 $4,774 41 % EPS $1.19 $1.10 8 % $4.96 $3.55 40 % Adjusted* Sales $24,238 $21,623 12 % $88,603 $80,808 10 % Net Income $2,111 $2,071 2 % $8,531 $7,705 11 % EPS $1.55 $1.54 1 % $6.29 $5.73 10 % Operating Cash Flow $4,165 $1,561 167 % $10,567 $7,159 48 % Free Cash Flow* $3,195 $492 549 % $7,940 $4,534 75 %

Segment Results Collins Aerospace 4th Quarter Twelve Months ($ in millions) 2025 2024 % Change 2025 2024 % Change Reported Sales $7,736 $7,537 3 % $30,196 $28,284 7 % Operating Profit $1,402 $1,106 27 % $4,923 $4,135 19 % ROS 18.1 % 14.7 % 340 bps 16.3 % 14.6 % 170 bps Adjusted* Sales $7,736 $7,537 3 % $30,196 $28,284 7 % Operating Profit $1,223 $1,207 1 % $4,893 $4,496 9 % ROS 15.8 % 16.0 % (20) bps 16.2 % 15.9 % 30 bps

Collins Aerospace fourth quarter 2025 reported and adjusted sales of $7,736 million were up 3 percent versus the prior year. Excluding the impact of divestitures, the increase in adjusted sales* was driven by a 9 percent increase in commercial OE, a 13 percent increase in commercial aftermarket, and a 2 percent increase in defense. The increase in commercial OE sales was driven primarily by higher volume on widebody and narrowbody platforms, and the increase in commercial aftermarket sales was driven by growth in provisioning and parts and repairs. The increase in defense sales was driven by higher volume across multiple programs.

Collins Aerospace reported operating profit of $1,402 million was up 27 percent versus the prior year. Reported operating profit included a gain on the sale of the Simmonds Precision Products business. Adjusted operating profit* of $1,223 million was up 1 percent versus the prior year. Drop through on higher commercial aftermarket and commercial OE volume was partially offset by the impact of divestitures completed during the year and higher tariffs across the business.

Pratt & Whitney 4th Quarter Twelve Months ($ in millions) 2025 2024 % Change 2025 2024 % Change Reported Sales $9,496 $7,569 25 % $32,916 $28,066 17 % Operating Profit $773 $504 53 % $2,596 $2,015 29 % ROS 8.1 % 6.7 % 140 bps 7.9 % 7.2 % 70 bps Adjusted* Sales $9,496 $7,569 25 % $32,916 $28,066 17 % Operating Profit $776 $717 8 % $2,725 $2,281 19 % ROS 8.2 % 9.5 % (130) bps 8.3 % 8.1 % 20 bps

Pratt & Whitney fourth quarter reported and adjusted sales of $9,496 million were up 25 percent versus the prior year. The sales growth was driven by a 28 percent increase in commercial OE, a 21 percent increase in commercial aftermarket, and a 30 percent increase in military. The increase in commercial OE sales was driven by higher volume and favorable mix in large commercial engines, while the increase in commercial aftermarket was driven by higher volume, including heavier content, in large commercial engines and Pratt Canada. The increase in military sales was driven by higher F135 production volume and higher sustainment volume across multiple platforms, including the F135 and F100.

Pratt & Whitney reported operating profit of $773 million was up 53 percent versus the prior year. Adjusted operating profit* of $776 million was up 8 percent versus the prior year. The increase was driven by drop through on higher military and commercial aftermarket volume as well as favorable military and commercial OE mix. This growth was partially offset by the impact of commercial aftermarket mix, higher tariffs across the business, higher SG&A expense, and the absence of a prior year insurance recovery of approximately $70 million. Q4 2024 reported operating profit included a $157 million charge related to a customer bankruptcy.

Raytheon 4th Quarter Twelve Months ($ in millions) 2025 2024 % Change 2025 2024 % Change Reported Sales $7,657 $7,157 7 % $28,043 $26,713 5 % Operating Profit $885 $824 7 % $3,227 $2,594 24 % ROS 11.6 % 11.5 % 10 bps 11.5 % 9.7 % 180 bps Adjusted* Sales $7,657 $7,157 7 % $28,043 $26,783 5 % Operating Profit $885 $728 22 % $3,231 $2,728 18 % ROS 11.6 % 10.2 % 140 bps 11.5 % 10.2 % 130 bps

Raytheon fourth quarter reported and adjusted sales of $7,657 million were up 7 percent versus the prior year. This increase was driven by higher volume on land and air defense systems, including Patriot and GEM-T, as well as higher volume on naval programs, including Evolved SeaSparrow Missile and Tomahawk. Q4 2024 sales included a benefit related to the restart of contracts with a Middle East customer.

Raytheon reported operating profit of $885 million was up 7 percent versus the prior year. Adjusted operating profit* of $885 million was up 22 percent versus the prior year. The increase was driven by improved net productivity, higher volume, and favorable program mix. Q4 2024 reported operating profit included a $102 million benefit related to the restart of contracts with a Middle East customer.

About RTXRTX is the world's largest aerospace and defense company. With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

Conference Call on the Fourth Quarter 2025 Financial ResultsRTX's financial results conference call will be held on Tuesday, January 27, 2026 at 8:30 a.m. ET. The conference call will be webcast live on the company's website at www.rtx.com and will be available for replay following the call. The corresponding presentation slides will be available for downloading prior to the call.

Use and Definitions of Non-GAAP Financial MeasuresRTX 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. Below are our non-GAAP 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 items(1) (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 Adjusted operating profit (loss) represents operating profit (loss) (a GAAP measure), excluding restructuring costs, acquisition (ROS) accounting adjustments(2), 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 Segment operating profit (loss) represents operating profit (loss) (a GAAP measure) excluding acquisition accounting (ROS) adjustments(2), the FAS/CAS operating adjustment(3), 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 Adjusted segment operating profit (loss) represents segment operating profit (loss) excluding restructuring costs, and net percentage (ROS) significant and/or non-recurring 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 adjustments(2), 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 adjustments(2), 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 adjustments(2), and net significant and/or non-recurring items. Free cash flow Free cash flow represents cash flow from operating activities (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.

(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.

Cautionary Statement Regarding Forward-Looking Statements 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. 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, targets and commitments (including for share repurchases or otherwise), and other statements which are not solely historical facts. All forward-looking statements involve risks, uncertainties, changes in circumstances and other factors that are hard to predict, and each of which 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, as amended. Such risks, uncertainties and other factors include, without limitation: (1) changes in economic, capital market, and political conditions in the U.S. and globally; (2) changes in U.S. government defense spending, national priorities, and policy positions; (3) our performance on our contracts and programs, including our ability to control costs, and our dependence on U.S. government approvals for certain international contracts; (4) challenges in the development, certification, production, delivery, support, and performance of RTX's advanced technologies and new products and services and the realization of anticipated benefits; (5) challenges of operating in RTX's highly-competitive industries both domestically and abroad; (6) our reliance on U.S. and non-U.S. suppliers and commodity markets, including cost increases and disruptions in the delivery of materials and services to RTX or our suppliers; (7) changes in trade policies, implementation of sanctions, imposition of tariffs (and counter-tariffs), and other trade measures and restrictions, foreign currency fluctuations, and sales methods; (8) the economic condition of the aerospace industry; (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 and completing acquisitions, investments, divestitures, and other transactions; (11) compliance with legal, environmental, regulatory, and other requirements in the U.S. and other countries in which RTX and its businesses operate; (12) pending, threatened, and future legal proceedings, investigations, audits, and other contingencies; (13) 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) RTX's ability to engage in desirable capital-raising or strategic transactions; (15) 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; (16) realizing expected benefits from, incurring costs for, and successfully managing strategic initiatives such as cost reduction, restructuring, digital transformation, and other operational initiatives; (17) 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) 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; (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) an RTX product safety failure, quality issue, or other failure affecting RTX's or its customers' or suppliers' products or systems; (21) cybersecurity, including cyber-attacks on RTX's information technology infrastructure, products, suppliers, customers and partners, and cybersecurity-related regulations; (22) insufficient indemnity or insurance coverage; (23) our intellectual property and certain third-party intellectual property; (24) threats to RTX facilities and personnel, or those of its suppliers or customers, as well as public health crises, damaging weather, acts of nature, or other similar events outside of RTX's control that may affect RTX or its suppliers or customers; (25) changes in accounting estimates for our programs on our financial results; (26) changes in pension and other postretirement plan estimates and assumptions and contributions; (27) an impairment of goodwill and other intangible assets; and (28) climate change and climate-related regulations, and any related customer and market demands, products and technologies. For additional information on identifying factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, see the reports of RTX filed with or furnished to the Securities and Exchange Commission from time to time, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. 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.

RTX Corporation Consolidated Statement of Operations Quarter Ended Twelve Months Ended December 31, December 31, (Unaudited) (Unaudited) (dollars in millions, except per share amounts; shares in millions) 2025 2024 2025 2024 Net Sales $24,238 $21,623 $88,603 $80,738 Costs and expenses: Cost of sales 19,521 17,388 70,814 65,328 Research and development 789 808 2,807 2,934 Selling, general, and administrative 1,638 1,574 6,095 5,806 Total costs and expenses 21,948 19,770 79,716 74,068 Other income (expense), net 306 258 413 (132) Operating profit 2,596 2,111 9,300 6,538 Non-service pension income (101) (384) (1,182) (1,518) Interest expense, net 400 486 1,749 1,862 Income before income taxes 2,297 2,009 8,733 6,194 Income tax expense 584 449 1,664 1,181 Net income 1,713 1,560 7,069 5,013 Less: Noncontrolling interest in subsidiaries' earnings 91 78 337 239 Net income attributable to common shareowners $1,622 $1,482 $6,732 $4,774 Earnings Per Share attributable to common shareowners: Basic $1.21 $1.11 $5.02 $3.58 Diluted $1.19 $1.10 $4.96 $3.55 Weighted Average Shares Outstanding: Basic shares 1,344.9 1,334.4 1,341.4 1,332.1 Diluted shares 1,361.7 1,348.9 1,356.4 1,343.6

RTX Corporation Segment Net Sales and Operating Profit (Loss) Quarter Ended Twelve Months Ended (Unaudited) (Unaudited) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 (dollars in millions) Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Net Sales Collins Aerospace $7,736 $7,736 $7,537 $7,537 $30,196 $30,196 $28,284 $28,284 Pratt & Whitney 9,496 9,496 7,569 7,569 32,916 32,916 28,066 28,066 Raytheon 7,657 7,657 7,157 7,157 28,043 28,043 26,713 26,783 Total segments 24,889 24,889 22,263 22,263 91,155 91,155 83,063 83,133 Eliminations and other (651) (651) (640) (640) (2,552) (2,552) (2,325) (2,325) Consolidated $24,238 $24,238 $21,623 $21,623 $88,603 $88,603 $80,738 $80,808 Operating Profit (Loss) Collins Aerospace $1,402 $1,223 $1,106 $1,207 $4,923 $4,893 $4,135 $4,496 Pratt & Whitney 773 776 504 717 2,596 2,725 2,015 2,281 Raytheon 885 885 824 728 3,227 3,231 2,594 2,728 Total segments 3,060 2,884 2,434 2,652 10,746 10,849 8,744 9,505 Eliminations and other 32 32 7 7 54 13 (48) (48) Corporate expenses and other unallocated items (138) (132) (7) (4) (248) (226) (933) (107) FAS/CAS operating adjustment 183 183 197 197 753 753 833 833 Acquisition accounting adjustments (541) (520) (2,005) (2,058) Consolidated $2,596 $2,967 $2,111 $2,852 $9,300 $11,389 $6,538 $10,183 Segment Operating Profit Margin Collins Aerospace 18.1 % 15.8 % 14.7 % 16.0 % 16.3 % 16.2 % 14.6 % 15.9 % Pratt & Whitney 8.1 % 8.2 % 6.7 % 9.5 % 7.9 % 8.3 % 7.2 % 8.1 % Raytheon 11.6 % 11.6 % 11.5 % 10.2 % 11.5 % 11.5 % 9.7 % 10.2 % Total segment 12.3 % 11.6 % 10.9 % 11.9 % 11.8 % 11.9 % 10.5 % 11.4 %

RTX Corporation Consolidated Balance Sheet December 31, 2025 December 31, 2024 (dollars in millions) (Unaudited) (Unaudited) Assets Cash and cash equivalents $7,435 $5,578 Accounts receivable, net 14,701 10,976 Contract assets, net 17,092 14,570 Inventory, net 13,364 12,768 Other assets, current 7,740 7,241 Total current assets 60,332 51,133 Customer financing assets 2,132 2,246 Fixed assets, net 16,868 16,089 Operating lease right-of-use assets 1,887 1,864 Goodwill 53,343 52,789 Intangible assets, net 31,845 33,443 Other assets 4,672 5,297 Total assets $171,079 $162,861 Liabilities, Redeemable Noncontrolling Interest, and Equity Short-term borrowings $204 $183 Accounts payable 15,895 12,897 Accrued employee compensation 3,308 2,620 Other accrued liabilities 14,350 14,831 Contract liabilities 21,615 18,616 Long-term debt currently due 3,412 2,352 Total current liabilities 58,784 51,499 Long-term debt 34,288 38,726 Operating lease liabilities, non-current 1,602 1,632 Future pension and postretirement benefit obligations 2,067 2,104 Other long-term liabilities 7,200 6,942 Total liabilities 103,941 100,903 Redeemable noncontrolling interest 36 35 Shareowners' Equity: Common stock 38,126 37,434 Treasury stock (26,881) (27,112) Retained earnings 56,718 53,589 Accumulated other comprehensive loss (2,718) (3,755) Total shareowners' equity 65,245 60,156 Noncontrolling interest 1,857 1,767 Total equity 67,102 61,923 Total liabilities, redeemable noncontrolling interest, and equity $171,079 $162,861

RTX Corporation Consolidated Statement of Cash Flows Quarter Ended Twelve Months Ended December 31, December 31, (Unaudited) (Unaudited) (dollars in millions) 2025 2024 2025 2024 Operating Activities: Net income $1,713 $1,560 $7,069 $5,013 Adjustments to reconcile net income to net cash flows provided by operating activities from: Depreciation and amortization 1,159 1,139 4,378 4,364 Deferred income tax provision (benefit) 191 72 789 (47) Stock compensation cost 182 109 519 437 Net periodic pension and other postretirement income (55) (334) (1,011) (1,326) Share-based 401(k) matching contributions 138 138 573 353 Gain on sale of Cybersecurity, Intelligence and Services business, net of transaction costs – (415) Change in: Accounts receivable (1,747) (1,111) (3,235) (175) Contract assets (519) 39 (2,643) (2,414) Inventory 483 231 (532) (1,474) Other current assets (76) (160) (1,055) (402) Accounts payable and accrued liabilities 1,322 (819) 3,418 1,508 Contract liabilities 1,444 676 2,773 1,872 Other operating activities, net (70) 21 (476) (135) Net cash flows provided by operating activities 4,165 1,561 10,567 7,159 Investing Activities: Capital expenditures (970) (1,069) (2,627) (2,625) Dispositions of businesses, net of cash transferred 743 512 1,931 1,795 Payments on customer financing assets (114) (48) (233) (218) Receipts from customer financing assets 31 67 161 202 Increase in other intangible assets (145) (164) (492) (611) (Payments) receipts from settlements of derivative contracts, net (69) (145) 118 (142) Other investing activities, net (25) 68 (123) 65 Net cash flows used in investing activities (549) (779) (1,265) (1,534) Financing Activities: Repayment of long-term debt (1,140) (800) (3,429) (2,500) Dividends paid (914) (802) (3,574) (3,217) Repurchase of common stock – (50) (50) (444) Other financing activities, net (100) (216) (433) (456) Net cash flows used in financing activities (2,154) (1,868) (7,486) (6,617) Effect of foreign exchange rate changes on cash and cash equivalents 4 (39) 48 (28) Net increase (decrease) in cash, cash equivalents and restricted cash 1,466 (1,125) 1,864 (1,020) Cash, cash equivalents and restricted cash, beginning of period 6,004 6,731 5,606 6,626 Cash, cash equivalents and restricted cash, end of period 7,470 5,606 7,470 5,606 Less: Restricted cash, included in Other assets, current and Other assets 35 28 35 28 Cash and cash equivalents, end of period $7,435 $5,578 $7,435 $5,578

RTX Corporation Reconciliation of Adjusted (Non-GAAP) Results Adjusted Sales, Adjusted Operating Profit & Operating Profit Margin Quarter Ended Twelve Months Ended December 31, December 31, (Unaudited) (Unaudited) (dollars in millions – Income (Expense)) 2025 2024 2025 2024 Collins Aerospace Net sales $7,736 $7,537 $30,196 $28,284 Operating profit $1,402 $1,106 $4,923 $4,135 Restructuring (35) (17) (204) (47) Gain on sale of businesses, net of transaction and other related costs (1) 214 99 309 99 Charge associated with initiating alternative titanium sources (1) – (175) Segment and portfolio transformation and divestiture costs (1) – (28) (75) (83) Impairment of contract fulfillment costs (1) – (155) (155) Adjusted operating profit $1,223 $1,207 $4,893 $4,496 Adjusted operating profit margin 15.8 % 16.0 % 16.2 % 15.9 % Pratt & Whitney Net sales $9,496 $7,569 $32,916 $28,066 Operating profit $773 $504 $2,596 $2,015 Restructuring (3) (56) (21) (102) Insurance settlement – 27 Expected settlement of a litigation matter (1) – (34) Customer bankruptcy (1) – (157) (108) (157) Adjusted operating profit $776 $717 $2,725 $2,281 Adjusted operating profit margin 8.2 % 9.5 % 8.3 % 8.1 % Raytheon Net sales $7,657 $7,157 $28,043 $26,713 Contract termination (1) – (70) Adjusted net sales $7,657 $7,157 $28,043 $26,783 Operating profit $885 $824 $3,227 $2,594 Restructuring – (6) (4) (36) Gain on sale of business, net of transaction and other related costs (1) – 375 Contract termination (1) – (575) Middle East contracts restart adjustments (1) – 102 102 Adjusted operating profit $885 $728 $3,231 $2,728 Adjusted operating profit margin 11.6 % 10.2 % 11.5 % 10.2 % Eliminations and Other Net sales $(651) $(640) $(2,552) $(2,325) Operating profit (loss) $32 $7 $54 $(48) Gain on investment (1) – 41 Adjusted operating profit (loss) $32 $7 $13 $(48) Corporate expenses and other unallocated items Operating profit (loss) $(138) $(7) $(248) $(933) Restructuring (6) (17) (9) Tax audit settlements and closures (1) – (5) (68) Segment and portfolio transformation and divestiture costs (1) – (3) (11) Legal matters (1) – (918) Tax matters and related indemnification (1) – 180 Adjusted operating loss $(132) $(4) $(226) $(107) FAS/CAS Operating Adjustment Operating profit $183 $197 $753 $833 Acquisition Accounting Adjustments Operating loss $(541) $(520) $(2,005) $(2,058) Acquisition accounting adjustments (541) (520) (2,005) (2,058) Adjusted operating profit $ – $ – $ – $ – RTX Consolidated Net sales $24,238 $21,623 $88,603 $80,738 Total net significant and/or non-recurring items included in Net sales above (1) – (70) Adjusted net sales $24,238 $21,623 $88,603 $80,808 Operating profit $2,596 $2,111 $9,300 $6,538 Restructuring (44) (79) (246) (194) Acquisition accounting adjustments (541) (520) (2,005) (2,058) Total net significant and/or non-recurring items included in Operating profit above (1) 214 (142) 162 (1,393) Adjusted operating profit $2,967 $2,852 $11,389 $10,183

(1) Refer to “Non-GAAP Financial Adjustments” below for a description of these adjustments.

RTX Corporation Reconciliation of Adjusted (Non-GAAP) Results Adjusted Income, Earnings Per Share, and Effective Tax Rate Quarter Ended Twelve Months Ended December 31, December 31, (Unaudited) (Unaudited) (dollars in millions – Income (Expense)) 2025 2024 2025 2024 Net income attributable to common shareowners $1,622 $1,482 $6,732 $4,774 Total Restructuring (44) (79) (246) (194) Total Acquisition accounting adjustments (541) (520) (2,005) (2,058) Total net significant and/or non-recurring items included in Operating profit (1) 214 (142) 162 (1,393) Significant and/or non-recurring items included in Non-service Pension Income Non-service pension restructuring – (9) Pension settlement charge (1) (260) (260) Pension curtailment related to sale of business (1) (1) 9 Significant non-recurring and non-operational items included in Interest Expense, Net Tax audit settlements and closures (1) – 54 78 Tax matters and related indemnification (1) – (11) International tax matter (1) 35 Tax effect of restructuring and net significant and/or non-recurring items above 108 152 438 516 Significant and/or non-recurring items included in Income Tax Expense Tax audit settlements and closures (1) – 59 296 Tax matters and related indemnification (1) – (156) Significant and/or non-recurring items included in Noncontrolling Interest Noncontrolling interest share of charges related to an insurance settlement – (9) Less: Impact on net income attributable to common shareowners (489) (589) (1,799) (2,931) Adjusted net income attributable to common shareowners $2,111 $2,071 $8,531 $7,705 Diluted Earnings Per Share $1.19 $1.10 $4.96 $3.55 Impact on Diluted Earnings Per Share (0.36) (0.44) (1.33) (2.18) Adjusted Diluted Earnings Per Share $1.55 $1.54 $6.29 $5.73 Effective Tax Rate 25.4 % 22.3 % 19.1 % 19.1 % Impact on Effective Tax Rate 1.5 % 0.4 % (0.5) % 0.3 % Adjusted Effective Tax Rate 23.9 % 21.9 % 19.6 % 18.8 %

(1) Refer to “Non-GAAP Financial Adjustments” below for a description of these adjustments.

RTX Corporation Reconciliation of Adjusted (Non-GAAP) Results Segment Operating Profit Margin and Adjusted Segment Operating Profit Margin Quarter Ended Twelve Months Ended December 31, December 31, (Unaudited) (Unaudited) (dollars in millions) 2025 2024 2025 2024 Net Sales $24,238 $21,623 $88,603 $80,738 Reconciliation to segment net sales: Eliminations and other 651 640 2,552 2,325 Segment Net Sales $24,889 $22,263 $91,155 $83,063 Reconciliation to adjusted segment net sales: Net significant and/or non-recurring items (1) – (70) Adjusted Segment Net Sales $24,889 $22,263 $91,155 $83,133 Operating Profit $2,596 $2,111 $9,300 $6,538 Operating Profit Margin 10.7 % 9.8 % 10.5 % 8.1 % Reconciliation to segment operating profit: Eliminations and other (32) (7) (54) 48 Corporate expenses and other unallocated items 138 7 248 933 FAS/CAS operating adjustment (183) (197) (753) (833) Acquisition accounting adjustments 541 520 2,005 2,058 Segment Operating Profit $3,060 $2,434 $10,746 $8,744 Segment Operating Profit Margin 12.3 % 10.9 % 11.8 % 10.5 % Reconciliation to adjusted segment operating profit: Restructuring (38) (79) (229) (185) Net significant and/or non-recurring items (1) 214 (139) 126 (576) Adjusted Segment Operating Profit $2,884 $2,652 $10,849 $9,505 Adjusted Segment Operating Profit Margin 11.6 % 11.9 % 11.9 % 11.4 %

(1) Refer to “Non-GAAP Financial Adjustments” below for a description of these adjustments.

RTX Corporation Free Cash Flow Reconciliation Quarter Ended December 31, (Unaudited) (dollars in millions) 2025 2024 Net cash flows provided by operating activities $4,165 $1,561 Capital expenditures (970) (1,069) Free cash flow $3,195 $492 Twelve Months Ended December 31, (Unaudited) (dollars in millions) 2025 2024 Net cash flows provided by operating activities $10,567 $7,159 Capital expenditures (2,627) (2,625) Free cash flow $7,940 $4,534

RTX Corporation Reconciliation of Adjusted (Non-GAAP) Results Organic Sales Reconciliation Quarter ended December 31, 2025 compared to the Quarter Ended December 31, 2024 (Unaudited) (dollars in millions) Total Reported Acquisitions & FX /Other Organic Change Prior Year Organic Change Change Divestitures Change (2) Adjusted Sales (1) as a % of Change Adjusted Sales Collins Aerospace $199 $(428) $27 $600 $7,537 8 % Pratt & Whitney 1,927 38 1,889 7,569 25 % Raytheon 500 5 495 7,157 7 % Eliminations and Other (3) (11) 26 (25) (12) (640) 2 % Consolidated $2,615 $(402) $45 $2,972 $21,623 14 %

(1) For the full Non-GAAP reconciliation of adjusted sales refer to “Reconciliation of Adjusted (Non-GAAP) Results – Adjusted Sales, Adjusted Operating Profit & Operating Profit Margin.” (2) Includes other significant non-operational items and/or significant operational items that may occur at irregular intervals. (3) FX/Other Change includes the transactional impact of foreign exchange hedging at Pratt & Whitney Canada, which is included in Pratt & Whitney's FX/Other Change, but excluded for Consolidated RTX.

Twelve Months Ended December 31, 2025 compared to the Twelve Months Ended December 31, 2024 (Unaudited) (dollars in millions) Total Reported Acquisitions & FX /Other Organic Change Prior Year Organic Change Change Divestitures Change (2) Adjusted Sales (1) as a % of Change Adjusted Sales Collins Aerospace $1,912 $(754) $60 $2,606 $28,284 9 % Pratt & Whitney 4,850 40 4,810 28,066 17 % Raytheon 1,330 (460) 75 1,715 26,783 6 % Eliminations and Other (3) (227) 35 (25) (237) (2,325) 10 % Consolidated $7,865 $(1,179) $150 $8,894 $80,808 11 %

Non-GAAP Financial Adjustments

Non-GAAP Adjustments Description Segment and portfolio transformation and The twelve months ended December 31, 2025 and the quarter and twelve months ended December 31, 2024 include certain segment and divestiture costs portfolio transformation costs incurred in connection with the 2023 completed segment realignment as well as separation costs incurred in advance of the completion of certain divestitures. Charge associated with initiating alternative The twelve months ended December 31, 2024 includes a net pre-tax charge of $0.2 billion related to the recognition of unfavorable titanium sources purchase commitments and an impairment of contract fulfillment costs associated with initiating alternative titanium sources at Collins. These charges were recorded as a result of the Canadian government's imposition of new sanctions in February 2024, which included U.S.- and German-based Russian-owned entities from which we source titanium for use in our Canadian operations. Management has determined that these impacts are directly attributable to the sanctions, incremental to similar costs incurred for reasons other than those related to the sanctions and has determined that the nature of the charge is considered significant and unusual, and, therefore, not indicative of the Company's ongoing operational performance. Impairment of contract fulfillment costs The quarter and twelve months ended December 31, 2024 include a net pre-tax charge of $0.2 billion related to an impairment of contract fulfillment costs as a result of a contract cancellation during the fourth quarter of 2024 at Collins. Management has determined that the nature and significance of the charge is considered unusual and, therefore not indicative of the Company's ongoing operational performance. Expected settlement of a litigation matter The twelve months ended December 31, 2024 includes a pre-tax charge of $34 million reflecting the expected settlement value relating to a litigation matter at Pratt & Whitney. Management has determined that the impact is directly attributable to the expected legal settlement and that the nature of the charge is considered non-operational, and therefore, not indicative of the Company's ongoing operational performance. Customer bankruptcy The twelve months ended December 31, 2025 includes a net pre-tax charge of approximately $0.1 billion related to a customer bankruptcy at Pratt & Whitney. The quarter and twelve months ended December 31, 2024 include a net pre-tax charge of approximately $0.2 billion related to a customer bankruptcy at Pratt & Whitney. The charges primarily relate to contract asset exposures with customers. Management has determined that the nature and significance of the charge is considered unusual and, therefore, not indicative of the Company's ongoing operational performance. Contract termination The twelve months ended December 31, 2024 includes a pre-tax charge of $0.6 billion related to the termination of a fixed price development contract with a foreign customer at Raytheon. The charge includes the write-off of remaining contract assets and settlement with the customer. Management has determined that these impacts are directly attributable to the termination, incremental to similar costs incurred for reasons other than those attributable to the termination and has determined that the nature of the pre-tax charge is considered significant and unusual and, therefore, not indicative of the Company's ongoing operational performance. Gain on sale of businesses, net of transaction The quarter and twelve months ended December 31, 2025 include a pre-tax gain of $0.1 billion associated with the completed sale of and other related costs the Simmonds Precision Products business at Collins. The quarter and twelve months ended December 31, 2025 also include a pre-tax gain of $0.1 billion and $0.2 billion, respectively, associated with the completed sale of the actuation and flight control business at Collins. The quarter and twelve months ended December 31, 2024 include a pre-tax gain, net of transaction and other related costs, of $0.1 billion associated with the completed sale of the Hoist & Winch business at Collins. The twelve months ended December 31, 2024 also includes a pre-tax gain, net of transaction and other related costs, of $0.4 billion associated with the completed sale of the Cybersecurity, Intelligence and Services (CIS) business at Raytheon. Management has determined that the nature of the net gain on each divestiture is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance. Middle East contracts restart adjustments The quarter and twelve months ended December 31, 2024 include a net operating profit benefit of $0.1 billion primarily related to reserve and contract loss provision adjustments as a result of restarting work under certain contracts with a Middle East customer. Management has determined that the nature and significance of the benefit is considered unusual, therefore not indicative of the Company's ongoing operational performance. Gain on investment The twelve months ended December 31, 2025 includes a pre-tax gain of $41 million related to the increase in fair value on an investment. Management has determined that the nature of the gain on investment to be significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance. Tax audit settlements and closures The twelve months ended December 31, 2025 includes a tax benefit of $59 million and a pre-tax benefit on the reversal of $54 million of interest accruals both recognized as a result of the closure of the examination phase of multiple state tax audits. The twelve months ended December 31, 2024 includes a tax benefit of $0.3 billion recognized as a result of the closure of the examination phase of multiple federal tax audits. The twelve months ended December 31, 2024 includes a pre-tax charge of $68 million for the write- off of certain tax related indemnity receivables and a pre-tax gain on the reversal of $78 million of interest accruals, both directly associated with these tax audit settlements. Management has determined that the nature of these impacts related to the tax audit settlements and closures is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance. Legal matters The twelve months ended December 31, 2024 includes charges of $0.9 billion related to the resolution of several outstanding legal matters. The charge includes an additional accrual of $0.3 billion to resolve the previously disclosed criminal and civil government investigations of defective pricing claims for certain legacy Raytheon Company contracts entered into between 2011 and 2013 and in 2017; an additional accrual of $0.4 billion to resolve the previously disclosed criminal and civil government investigations of improper payments made by Raytheon Company and its joint venture, Thales-Raytheon Systems, in connection with certain Middle East contracts since 2012; and an accrual of $0.3 billion related to certain voluntarily disclosed export controls violations, primarily identified in connection with the integration of Rockwell Collins and, to a lesser extent, Raytheon Company, including certain violations that were resolved pursuant to a consent agreement with the Department of State. Management has determined that these impacts are directly attributable to these legacy legal matters and that the nature of the charges are considered significant and unusual, and, therefore, not indicative of the Company's ongoing operational performance. International tax matter During the quarter ended March 31, 2025, the Company recorded the impact of an unfavorable decision related to an international tax matter for the years ended December 31, 2015 to December 31, 2019, resulting in interest expense, net of $35 million and a tax benefit of $8 million. During the quarter ended December 31, 2025, the Company received a favorable decision related to this matter, and reversed the previously recorded impacts. Management has determined that the nature of this impact related to the tax matter is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance. Tax matters and related indemnification The twelve months ended December 31, 2024 includes the impact of a recent favorable international tax court ruling related to certain tax payments made by a previously separated entity. As a result of this ruling, and the expected reimbursement of international taxes to the previously separated entity, the Company will owe additional U.S. income tax of $0.2 billion and related interest. The Company recorded a pre-tax benefit of $0.2 billion to recognize recovery of the additional taxes and interest owed pursuant to a tax matters agreement entered into in connection with the separation. There was no net income impact in 2024 as a result of this adjustment. The twelve months ended December 31, 2024 also includes an income tax benefit of $56 million in response to favorable U.S. Tax Court rulings issued to unrelated taxpayers, but with facts similar to ours. The nature of the tax item in the rulings is subject to the tax matters agreement with previously separated entities, and, therefore, we recorded a pre-tax charge of $32 million for the indemnified amounts. Management has determined that the nature of these impacts to both pre-tax income and income tax expense is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance. Pension settlement charge The quarter and twelve months ended December 31, 2025 include a non-cash pre-tax pension settlement charge of $0.3 billion related to the completion of a buy-out conversion of a group annuity contract which resulted in the transfer of approximately $2.3 billion of gross pension obligations to Prudential Insurance. Management has determined that the nature of this pre-tax charge is considered significant and non-operational, and, therefore, not indicative of the Company's ongoing operational performance.

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SOURCE RTX

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