Leidos — Oct 29, 2024 release

Under the six-year, $249 million contract, Leidos will continue to transform the Army’s enterprise physical access control system to a fully extensible, cloud-based solution with advanced biometrics modalities. 2 Forward Guidance Leidos is updating its fiscal year 2024 guidance as follows: FY24 Guidance Measure Current Prior Revenues (billions) $16.35 - $16.45 $16.10 - $16.40 Adjusted EBITDA Margin High-12% Approximately 12% Non-GAAP Diluted EPS $9.80 - $10.00 $8.60 - $9.00 Cash Flows Provided by Operating Activities (billions) Approximately $1.35 Approximately $1.30 For information regarding adjusted EBITDA margin and non-GAAP diluted EPS, see the related explanations and reconciliations to GAAP measures included elsewhere in this release. Leidos does not provide a reconciliation of forward-looking adjusted EBITDA margins or non-GAAP diluted EPS to net income due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. Because certain deductions for non-GAAP exclusions used to calculate projected net income may vary significantly based on actual events, Leidos is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income at this time. The amounts of these deductions may be material and, therefore, could result in projected net income and diluted EPS being materially less than what may be implied by projected adjusted EBITDA margins and non-GAAP diluted EPS. Conference Call Information Lei