EARNINGS RELEASE Document Exhibit 99 News Release Contact: Kate Mauss (Media) 410-832-6792 katherine.mauss@ngc.com Todd Ernst (Investors) 703-280-4535 todd.ernst@ngc.com Northrop Grumman Reports Third Quarter 2025 Financial Results • Net awards increase to $12.2 billion; book to bill ratio of 1.17 • Sales increase 4 percent to $10.4 billion, organic sales 1 increase 5 percent • Operating margin rate of 11.9 percent; segment operating margin rate 1 of 12.3 percent • Diluted earnings per share (EPS) increase 10 percent to $7.67 • Company raises 2025 MTM-adjusted EPS guidance range by $0.65 to $25.65 to $26.05 FALLS CHURCH, Va. – October 21, 2025 – Northrop Grumman Corporation (NYSE: NOC) reported third quarter 2025 sales increased 4 percent to $10.4 billion, as compared with $10.0 billion in the third quarter of 2024. Third quarter 2025 sales reflect continued strong demand for our global capabilities. Third quarter 2025 net earnings totaled $1.1 billion, or $7.67 per diluted share, as compared with $1.0 billion, or $7.00 per diluted share, in the third quarter of 2024. Third quarter 2025 net earnings reflect strong segment operating performance. “ The momentum we are building in our business drove strong third quarter performance to achieve our financial objectives for mid-single-digit growth, expanding segment margins, and growing cash flows year over year. As a result of this performance and our positive outlook for the remainder of the year, we are once again increasing our 2025 EPS guidance,” said Kathy Warden, chair, chief executive officer and president. “I am excited about our continued progress in responding with urgency to our customers’ needs. We’re demonstrating our team can rapidly innovate the way we work and the products we deliver, while also providing the quality and performance customers expect from Northrop Grumman. As we look to the future, we expect global demand to remain strong for our portfolio, with growth in each of our four business segments next year. ” 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 2 Consolidated Operating Results and Cash Flows Three Months Ended September 30 Nine Months Ended September 30 $ in millions, except per share amounts 2025 2024 Change 2025 2024 Change Sales Aeronautics Systems $ 3,142 $ 2,961 6% $ 9,070 $ 9,065 —% Defense Systems 2,059 1,800 14% 5,855 5,396 9% Mission Systems 3,093 2,823 10% 9,057 8,255 10% Space Systems 2,698 2,870 (6%) 7,912 9,021 (12%) Intersegment eliminations (569) (458) (1,652) (1,390) Total sales 10,423 9,996 4% 30,242 30,347 —% Operating income Aeronautics Systems 305 309 (1%) 443 927 (52%) Defense Systems 234 160 46% 666 507 31% Mission Systems 515 390 32% 1,317 1,129 17% Space Systems 298 345 (14%) 861 979 (12%) Intersegment eliminations (75) (58) (223) (191) Segment operating income 1 1,277 1,146 11% 3,064 3,351 (9%) Segment operating margin rate 1 12.3 % 11.5 % 80 bps 10.1 % 11.0 % (90) bps FAS/CAS operating adjustment 67 20 235% 193 32 503% Unallocated corporate expense: Gain on sale of business — — NM 231 — NM Training services divestiture - unallowable state taxes and transaction costs — (2) NM (20) (2) NM Intangible asset amortization and PP&E step-up depreciation (21) (23) (9%) (63) (72) (13%) Other unallocated corporate expense (81) (21) 286% (165) (28) 489% Unallocated corporate expense (102) (46) 122% (17) (102) (83%) Total operating income $ 1,242 $ 1,120 11% $ 3,240 $ 3,281 (1%) Operating margin rate 11.9 % 11.2 % 70 bps 10.7 % 10.8 % (10) bps Interest expense (161) (161) —% (490) (461) 6% Non-operating FAS pension benefit 136 168 (19%) 403 503 (20%) Other, net 106 61 74% 175 142 23% Earnings before income taxes 1,323 1,188 11% 3,328 3,465 (4%) Federal and foreign income tax expense 223 162 38% 573 555 3% Effective income tax rate 16.9 % 13.6 % 330 bps 17.2 % 16.0 % 120 bps Net earnings $ 1,100 $ 1,026 7% $ 2,755 $ 2,910 (5%) Diluted earnings per share 7.67 7.00 10% 19.12 19.69 (3%) Weighted-average diluted shares outstanding, in millions 143.5 146.5 (2%) 144.1 147.8 (3%) Net cash provided by operating activities $ 1,557 $ 1,091 43% $ 860 $ 1,810 (52%) Capital expenditures (301) (361) (17%) (788) (951) (17%) Free cash flow 1 $ 1,256 $ 730 72% $ 72 $ 859 (92%) 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 3 Sales Three Months Ended September 30 % Nine Months Ended September 30 % $ in millions 2025 2024 Change 2025 2024 Change Sales $ 10,423 $ 9,996 4 % $ 30,242 $ 30,347 — % Less: Training services sales — (70) (112) (226) Organic sales 1 $ 10,423 $ 9,926 5 % $ 30,130 $ 30,121 — % Third quarter 2025 sales increased $427 million, or 4 percent, primarily driven by higher sales at Mission Systems, Defense Systems and Aeronautics Systems, partially offset by lower sales at Space Systems due, in part, to the wind-down of work on certain Space programs, as discussed in our segment operating results below. Operating Income and Margin Rate Third quarter 2025 operating income increased $122 million, or 11 percent, primarily due to a $131 million increase in segment operating income. Operating margin rate increased to 11.9 percent from 11.2 percent principally due to a higher segment operating margin rate. Segment Operating Income and Margin Rate 1 Third quarter 2025 segment operating income increased $131 million, or 11 percent, primarily due to higher operating income at Mission Systems and Defense Systems, partially offset by lower operating income at Space Systems. Segment operating margin rate increased to 12.3 percent from 11.5 percent due to higher operating margin rates at Mission Systems and Defense Systems, partially offset by lower operating margin rates at Space Systems and Aeronautics Systems. Federal and Foreign Income Taxes On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted. Key income tax-related provisions of the OBBBA include the repeal of mandatory capitalization of research and development expenditures under Internal Revenue Code Section 174 (reinstating full expensing beginning in 2025), extension of bonus depreciation, and revisions to international tax regimes. The company recognized the income tax effects of the OBBBA in its third quarter 2025 financial statements. Third quarter 2025 income tax expense increased $61 million, or 38 percent, due to a higher effective tax rate (ETR) and higher earnings before income taxes. The third quarter 2025 ETR increased to 16.9 percent from 13.6 percent primarily due to the prior year ETR reflecting a net reduction in tax reserves largely due to a federal court decision in 2024 as well as a reduction in research credits in the current year due to enactment of the OBBBA, partially offset by lower interest expense on unrecognized tax benefits. Net Earnings Third quarter 2025 net earnings increased $74 million, or 7 percent, primarily due to the $122 million increase in operating income described above as well as a $62 million increase in returns on marketable securities, partially offset by a $61 million increase in income tax expense and a $32 million reduction in the non-operating FAS pension benefit. 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 4 Cash Flows Third quarter 2025 net cash provided by operating activities increased $466 million as compared with the same period in 2024 primarily due to higher earnings and improved trade working capital due principally to the timing of billings and collections. Third quarter 2025 free cash flow 1 increased $526 million, or 72 percent, due to an increase in net cash provided by operating activities and lower capital expenditures. Awards and Backlog Third quarter 2025 net awards totaled $12.2 billion and backlog totaled $91.4 billion. Significant third quarter new awards include $4.5 billion for restricted programs (primarily at Space Systems, Mission Systems and Aeronautics Systems), $1.8 billion for Ground-Based Midcourse Defense Weapon System (GWS), $0.5 billion for F-35 (primarily at Aeronautics Systems and Mission Systems), and $0.4 billion for Virginia Class submarines. Segment Operating Results Effective July 1, 2024, the company realigned the Strategic Deterrent Systems (SDS) division, which includes the Sentinel program, from Space Systems to Defense Systems. Effective January 1, 2025, the company realigned the Strike and Surveillance Aircraft Solutions (SSAS) business unit from Defense Systems to Aeronautics Systems. These realignments are reflected in the financial information contained in this report. AERONAUTICS SYSTEMS Three Months Ended September 30 % Nine Months Ended September 30 % $ in millions 2025 2024 Change 2025 2024 Change Sales $ 3,142 $ 2,961 6 % $ 9,070 $ 9,065 — % Operating income 305 309 (1) % 443 927 (52) % Operating margin rate 9.7 % 10.4 % 4.9 % 10.2 % Sales Third quarter 2025 sales increased $181 million, or 6 percent, primarily due to a $110 million increase on the E-130J TACAMO (“TACAMO”) program as it ramps up and a $105 million increase on the F-35 program largely driven by materials volume, partially offset by a decrease on F/A-18 as production nears completion. Operating Income Third quarter 2025 operating income decreased $4 million, or 1 percent, due to a lower operating margin rate, partially offset by higher sales. Operating margin rate decreased to 9.7 percent from 10.4 percent, primarily due to lower net contract margin adjustments. 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 5 DEFENSE SYSTEMS Three Months Ended September 30 % Nine Months Ended September 30 % $ in millions 2025 2024 Change 2025 2024 Change Sales $ 2,059 $ 1,800 14 % $ 5,855 $ 5,396 9 % Less: Training services sales — (70) (112) (226) Organic sales 1 $ 2,059 $ 1,730 19 % $ 5,743 $ 5,170 11 % Operating income $ 234 $ 160 46 % $ 666 $ 507 31 % Operating margin rate 11.4 % 8.9 % 11.4 % 9.4 % Sales Third quarter 2025 sales increased $259 million, or 14 percent, primarily due to higher volume on armament programs, including military ammunition programs, increased volume from new awards across the Integrated Battle Command System (IBCS) program portfolio and higher sales on Sentinel. These increases were partially offset by a $70 million reduction in sales related to the training services divestiture. Operating Income Third quarter 2025 operating income increased $74 million, or 46 percent, primarily due to a higher operating margin rate and higher sales. Operating margin rate increased to 11.4 percent from 8.9 percent principally due to higher net EAC adjustments and changes in mix toward more fixed-price contracts. MISSION SYSTEMS Three Months Ended September 30 % Nine Months Ended September 30 % $ in millions 2025 2024 Change 2025 2024 Change Sales $ 3,093 $ 2,823 10 % $ 9,057 $ 8,255 10 % Operating income 515 390 32 % 1,317 1,129 17 % Operating margin rate 16.7 % 13.8 % 14.5 % 13.7 % Sales Third quarter 2025 sales increased $270 million, or 10 percent, primarily due to higher sales on restricted advanced microelectronics programs, higher volume on marine systems programs and ramp-up on international ground-based radar programs. Operating Income Third quarter 2025 operating income increased $125 million, or 32 percent, due to a higher operating margin rate and higher sales. Operating margin rate increased to 16.7 percent from 13.8 percent, principally due to higher net EAC adjustments, including a $68 million favorable EAC adjustment in the restricted advanced microelectronics portfolio largely driven by program efficiencies and risk mitigations. 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 6 SPACE SYSTEMS Three Months Ended September 30 % Nine Months Ended September 30 % $ in millions 2025 2024 Change 2025 2024 Change Sales $ 2,698 $ 2,870 (6) % $ 7,912 $ 9,021 (12) % Operating income 298 345 (14) % 861 979 (12) % Operating margin rate 11.0 % 12.0 % 10.9 % 10.9 % Sales Third quarter 2025 sales decreased $172 million, or 6 percent, primarily due to wind-down of work on the restricted space and Next Generation Interceptor (NGI) programs, which reduced sales by $124 million, as well as lower volume on Space Development Agency (SDA) satellite programs. These decreases were partially offset by a $100 million increase for Commercial Resupply Services (CRS) missions. Operating Income Third quarter 2025 operating income decreased $47 million, or 14 percent, primarily due to a lower operating margin rate and lower sales. Operating margin rate decreased to 11.0 percent from 12.0 percent principally due to lower net EAC adjustments, including a prior year $39 million favorable EAC adjustment on the Habitation and Logistics Outpost program, partially offset by sales growth on programs with accretive margin rates. 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 7 Guidance Financial guidance, as well as outlook, trends, expectations and other forward-looking statements provided by the company for 2025 and beyond, reflect the company's judgment based on the information available to the company at the time of this release. The company’s financial guidance and outlook for 2025 and beyond reflect what the company currently anticipates will be the impacts on the company from, among other factors, the global macroeconomic, security, and political/budget environments, including the impacts from inflationary pressures and labor and supply chain challenges; changes in the threat environment; changes in government budget, appropriations and procurement priorities and processes; changes in the regulatory environment, including trade policy and tax policy; and changes in support for our programs. We are not assuming, and the company’s financial guidance and outlook for 2025 and beyond do not reflect impacts on the company from, a prolonged government shutdown, or application of spending limits or other spending cuts. However, the company cannot predict how these factors will evolve or what impacts they will have, and there can be no assurance that the company’s current expectations or underlying assumptions are correct. These factors can affect the company’s ability to achieve guidance or meet expectations. For additional factors that may impact the company’s ability to achieve guidance or meet expectations, please see the “Forward-Looking Statements” section in this release and our Form 10-Q. 2025 Guidance ($ in millions, except per share amounts) As of 10/21/2025 Sales $41,700 — $41,900 Prior: $42,050 — $42,250 Segment operating income 1 $4,275 — $4,375 MTM-adjusted EPS 1 $25.65 — $26.05 Prior: $25.00 — $25.40 Free cash flow 1 $3,050 — $3,350 2025 Segment Guidance As of 10/21/2025 Sales ($B) OM Rate % Aeronautics Systems High $12 Low to Mid 6% Prior: Low $13 Defense Systems Low $8 High 10% Prior: Mid 10% Mission Systems Mid $12 Mid 14% Prior: Low to Mid $12 Space Systems Mid to High $10 High 10% Intersegment Eliminations ~($2.25) High 13% Prior: ~($2.1) 1 Non-GAAP measure - see definitions at the end of this earnings release. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 8 About Northrop Grumman Northrop Grumman will webcast its earnings conference call at 9:30 a.m. Eastern Time on October 21, 2025. A live audio broadcast of the conference call will be available on the investor relations page of the company’s website at www.northropgrumman.com . Northrop Grumman is a leading global aerospace and defense technology company. Our pioneering solutions equip our customers with the capabilities they need to connect and protect the world, and push the boundaries of human exploration across the universe. Driven by a shared purpose to solve our customers’ toughest problems, our employees define possible every day. ### Forward-Looking Statements and Projections This earnings release and the information we are incorporating by reference, and statements to be made on the earnings conference call, contain or may contain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “anticipate,” “intend,” “may,” “could,” “should,” “plan,” “strategy,” “project,” “forecast,” “achieve,” “believe,” “estimate,” “guidance,” “outlook,” “trends,” “goals,” “confident,” “on track” and similar expressions generally identify these forward-looking statements. Forward-looking statements include, among other things, statements relating to our future financial condition, results of operations and/or cash flows, including financial guidance, outlook, trends, expectations and other forward-looking statements for 2025 and beyond. Forward-looking statements are based upon assumptions, expectations, plans and projections that we believe to be reasonable when made, but which may change over time. These statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. Specific risks that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include, but are not limited to, those identified and discussed more fully in the section entitled “Risk Factors” in the Form 10-K for the year ended December 31, 2024, and from time to time in our other filings with the SEC. They include: Industry and Economic Risks • our dependence on the U.S. government for a substantial portion of our business • significant delays or reductions in appropriations and/or for our programs, and U.S. government funding and program support more broadly, including as a result of a prolonged continuing resolution and/or government shutdown, and/or related to the global security environment or other global events • significant delays or reductions in payments as a result of or related to a breach of the debt ceiling or a prolonged government shutdown • the use of estimates when accounting for our contracts and the effect of contract cost growth and our efforts to recover or offset such costs and/or changes in estimated contract costs and revenues, including as a result of inflationary pressures, labor shortages, supply chain challenges, changes in trade policies and/or other macroeconomic factors, and risks related Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 9 to management’s judgments and assumptions in estimating and/or projecting contract revenue and performance which may be inaccurate • increased competition within our markets and bid protests • continued pressures from macroeconomic trends, including on costs, schedules, performance and ability to meet expectations Legal and Regulatory Risks • investigations, claims, disputes, enforcement actions, litigation (including criminal, civil and administrative) and/or other legal proceedings • changes in procurement and other laws, SEC, DoW and other rules and regulations, including changes through executive orders, contract terms and practices applicable to our industry, findings by the U.S. government as to our compliance with such requirements, more aggressive enforcement of such requirements and changes in our customers’ business practices globally • the improper conduct of employees, agents, subcontractors, suppliers, business partners or joint ventures in which we participate, including the impact on our reputation and our ability to do business • environmental matters, including climate change, unforeseen environmental costs and government and third-party claims • unanticipated changes in our tax provisions or exposure to additional tax liabilities Business and Operational Risks • cyber and other security threats or disruptions faced by us, our customers or our suppliers and other partners, and changes in related regulations • the performance and viability of our subcontractors and suppliers and the availability and pricing of raw materials, chemicals, parts and components, particularly with inflationary pressures, increased costs, shortages in labor and financial resources, supply chain disruptions, and extended material lead times • our ability to attract and retain a qualified and talented workforce with the necessary security clearances to meet our performance obligations • our exposure to additional risks as a result of our international business, including risks related to global security, geopolitical and economic factors, misconduct, suppliers, laws and regulations • natural disasters, epidemics, pandemics and similar outbreaks and other significant disruptions • our ability to innovate, develop new products and technologies, progress and benefit from digital transformation and maintain technologies to meet the needs of our customers • products and services we provide related to hazardous and high risk operations, including the production and use of such products, which subject us to various environmental, regulatory, financial, reputational and other risks • our ability appropriately to protect and exploit intellectual property rights Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 10 General and Other Risk Factors • the adequacy and availability of, and ability to obtain, insurance coverage, customer indemnifications or other liability protections • the future investment performance of plan assets, gains or losses associated with changes in valuation of marketable securities related to our non-qualified benefit plans, changes in actuarial assumptions associated with our pension and other postretirement benefit plans and legislative or other regulatory actions impacting our pension and postretirement benefit obligations • changes in business conditions that could impact business investments and/or recorded goodwill or the value of other long-lived assets, and other potential future liabilities You are urged to consider the limitations on, and risks associated with, forward-looking statements and not unduly rely on the accuracy of forward-looking statements. These forward-looking statements speak only as of the date this earnings release is first issued or, in the case of any document incorporated by reference, the date of that document. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. This release and the attachments also contain non-GAAP financial measures. A reconciliation to the nearest GAAP measure and a discussion of the company’s use of these measures are included in this release or the attachments. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 11 SCHEDULE 1 NORTHROP GRUMMAN CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS AND COMPREHENSIVE INCOME (Unaudited) Three Months Ended September 30 Nine Months Ended September 30 $ in millions, except per share amounts 2025 2024 2025 2024 Sales Product $ 8,369 $ 7,939 $ 24,148 $ 24,117 Service 2,054 2,057 6,094 6,230 Total sales 10,423 9,996 30,242 30,347 Operating costs and expenses Product 6,631 6,280 19,523 19,079 Service 1,565 1,610 4,702 4,838 General and administrative expenses 985 986 3,008 3,149 Total operating costs and expenses 9,181 8,876 27,233 27,066 Gain on sale of business — — 231 — Operating income 1,242 1,120 3,240 3,281 Other (expense) income Interest expense (161) (161) (490) (461) Non-operating FAS pension benefit 136 168 403 503 Other, net 106 61 175 142 Earnings before income taxes 1,323 1,188 3,328 3,465 Federal and foreign income tax expense 223 162 573 555 Net earnings $ 1,100 $ 1,026 $ 2,755 $ 2,910 Basic earnings per share $ 7.69 $ 7.02 $ 19.16 $ 19.73 Weighted-average common shares outstanding, in millions 143.1 146.2 143.8 147.5 Diluted earnings per share $ 7.67 $ 7.00 $ 19.12 $ 19.69 Weighted-average diluted shares outstanding, in millions 143.5 146.5 144.1 147.8 Net earnings (from above) $ 1,100 $ 1,026 $ 2,755 $ 2,910 Other comprehensive income (loss), net of tax Change in cumulative translation adjustment 2 2 11 2 Change in other, net (1) 8 18 (10) Other comprehensive income (loss), net of tax 1 10 29 (8) Comprehensive income $ 1,101 $ 1,036 $ 2,784 $ 2,902 Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 12 SCHEDULE 2 NORTHROP GRUMMAN CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) $ in millions, except par value September 30, 2025 December 31, 2024 Assets Cash and cash equivalents $ 1,957 $ 4,353 Accounts receivable, net 1,983 1,272 Unbilled receivables, net 7,030 5,908 Inventoried costs, net 1,615 1,455 Prepaid expenses and other current assets 1,520 1,286 Total current assets 14,105 14,274 Property, plant and equipment, net of accumulated depreciation of $9,430 for 2025 and $8,733 for 2024 10,542 10,536 Operating lease right-of-use assets 1,783 1,770 Goodwill 17,436 17,512 Intangible assets, net 220 254 Deferred tax assets 1,255 1,599 Pension and other postretirement benefit plan assets 2,501 2,184 Other non-current assets 1,458 1,230 Total assets $ 49,300 $ 49,359 Liabilities Trade accounts payable $ 2,797 $ 2,599 Accrued employee compensation 1,946 2,271 Advance payments and billings in excess of costs incurred 3,562 4,070 Other current liabilities 4,413 5,188 Total current liabilities 12,718 14,128 Long-term debt, net of current portion of $533 for 2025 and $1,582 for 2024 15,162 14,692 Pension and other postretirement benefit plan liabilities 1,100 1,120 Operating lease liabilities 1,796 1,798 Other non-current liabilities 2,536 2,331 Total liabilities 33,312 34,069 Shareholders’ equity Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding — — Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2025—142,790,278 and 2024—144,952,026 143 145 Paid-in capital — — Retained earnings 15,968 15,297 Accumulated other comprehensive loss (123) (152) Total shareholders’ equity 15,988 15,290 Total liabilities and shareholders’ equity $ 49,300 $ 49,359 Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 13 SCHEDULE 3 NORTHROP GRUMMAN CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Nine Months Ended September 30 $ in millions 2025 2024 Operating activities Net earnings $ 2,755 $ 2,910 Adjustments to reconcile to net cash provided by operating activities: Depreciation and amortization 1,066 956 Stock-based compensation 65 72 Deferred income taxes 344 (387) B-21 loss provision 477 — Gain on sale of business (231) — Net periodic pension and OPB income (256) (339) Pension and OPB contributions (94) (93) Changes in assets and liabilities: Accounts receivable, net (716) (155) Unbilled receivables, net (1,240) (825) Inventoried costs, net (179) (542) Prepaid expenses and other assets (29) (15) Accounts payable and other liabilities (642) (915) Income taxes payable, net (421) 1,106 Other, net (39) 37 Net cash provided by operating activities 860 1,810 Investing activities Capital expenditures (788) (951) Divestiture of training services business 333 — Other, net (36) — Net cash used in investing activities (491) (951) Financing activities Net proceeds from issuance of long-term debt 998 2,495 Payments of long-term debt (1,500) — Common stock repurchases (1,168) (2,073) Cash dividends paid (964) (887) Payments of employee taxes withheld from share-based awards (38) (57) Other, net (93) (120) Net cash used in financing activities (2,765) (642) (Decrease) increase in cash and cash equivalents (2,396) 217 Cash and cash equivalents, beginning of year 4,353 3,109 Cash and cash equivalents, end of period $ 1,957 $ 3,326 Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 14 SCHEDULE 4 NORTHROP GRUMMAN CORPORATION TOTAL BACKLOG (Unaudited) September 30, 2025 December 31, 2024 % Change in 2025 $ in millions Funded 1 Unfunded Total Backlog 2 Total Backlog 2 Aeronautics Systems $ 10,912 $ 11,538 $ 22,450 $ 25,202 (11) % Defense Systems 8,643 18,455 27,098 26,614 2 % Mission Systems 12,311 5,886 18,197 16,443 11 % Space Systems 7,100 16,603 23,703 23,209 2 % Total backlog $ 38,966 $ 52,482 $ 91,448 $ 91,468 — % 1 Funded backlog represents firm orders for which funding is authorized and appropriated. 2 Total backlog excludes unexercised contract options and indefinite delivery, indefinite quantity (IDIQ) contracts until the time the option or IDIQ task order is exercised or awarded. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 15 SCHEDULE 5 NORTHROP GRUMMAN CORPORATION SUPPLEMENTAL PER SHARE INFORMATION (Unaudited) Three Months Ended September 30 Nine Months Ended September 30 $ in millions, except per share amounts 2025 2024 2025 2024 Per share impact of total net FAS/CAS pension adjustment FAS/CAS operating adjustment $ 67 $ 20 $ 193 $ 32 Non-operating FAS pension benefit 136 168 403 503 Total net FAS/CAS pension adjustment 203 188 596 535 Tax effect 1 (51) (47) (150) (135) After-tax impact $ 152 $ 141 $ 446 $ 400 Weighted-average diluted shares outstanding, in millions 143.5 146.5 144.1 147.8 Per share impact $ 1.06 $ 0.96 $ 3.10 $ 2.71 Per share impact of intangible asset amortization and PP&E step-up depreciation Intangible asset amortization and PP&E step-up depreciation $ (21) $ (23) $ (63) $ (72) Tax effect 1 5 6 16 18 After-tax impact $ (16) $ (17) $ (47) $ (54) Weighted-average diluted shares outstanding, in millions 143.5 146.5 144.1 147.8 Per share impact $ (0.11) $ (0.12) $ (0.33) $ (0.37) 1 Based on a 21% federal statutory tax rate and a 5.25% blended state tax rate. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 16 SCHEDULE 6 NORTHROP GRUMMAN CORPORATION RECAST SEGMENT SALES AND OPERATING INCOME (Unaudited) SALES SEGMENT OPERATING INCOME 1 2023 2024 2023 2024 Total Three Months Ended Total Total Three Months Ended Total ($ in millions) Year Mar 31 Jun 30 Sep 30 Dec 31 Year Year Mar 31 Jun 30 Sep 30 Dec 31 Year AS REPORTED 2 Aeronautics Systems $ 10,786 $ 2,969 $ 2,963 $ (473) $ 297 $ 295 Defense Systems 5,862 1,412 1,513 710 177 204 Mission Systems 10,895 2,659 2,773 1,609 378 361 Space Systems 13,946 3,655 3,573 1,212 332 324 Intersegment eliminations (2,199) (562) (604) (298) (80) (83) Total $ 39,290 $ 10,133 $ 10,218 $ 2,760 $ 1,104 $ 1,101 REALIGNED, effective July 1, 2024 3 Aeronautics Systems $ 10,786 $ 2,969 $ 2,963 $ 2,878 $ 3,220 $ 12,030 $ (473) $ 297 $ 295 $ 298 $ 292 $ 1,182 Defense Systems 8,289 1,990 2,153 2,084 2,333 8,560 829 187 231 196 252 866 Mission Systems 10,895 2,659 2,773 2,823 3,144 11,399 1,609 378 361 390 469 1,598 Space Systems 11,873 3,149 3,002 2,870 2,710 11,731 1,130 330 304 345 275 1,254 Intersegment eliminations (2,553) (634) (673) (659) (721) (2,687) (335) (88) (90) (83) (95) (356) Total $ 39,290 $ 10,133 $ 10,218 $ 9,996 $ 10,686 $ 41,033 $ 2,760 $ 1,104 $ 1,101 $ 1,146 $ 1,193 $ 4,544 FURTHER REALIGNED, effective January 1, 2025 4 Aeronautics Systems $ 11,164 $ 3,044 $ 3,060 $ 2,961 $ 3,331 $ 12,396 $ (416) $ 306 $ 312 $ 309 $ 309 $ 1,236 Defense Systems 7,185 1,737 1,859 1,800 2,003 7,399 684 156 191 160 209 716 Mission Systems 10,895 2,659 2,773 2,823 3,144 11,399 1,609 378 361 390 469 1,598 Space Systems 11,873 3,149 3,002 2,870 2,710 11,731 1,130 330 304 345 275 1,254 Intersegment eliminations (1,827) (456) (476) (458) (502) (1,892) (247) (66) (67) (58) (69) (260) Total $ 39,290 $ 10,133 $ 10,218 $ 9,996 $ 10,686 $ 41,033 $ 2,760 $ 1,104 $ 1,101 $ 1,146 $ 1,193 $ 4,544 1 Non-GAAP measure - see definitions at the end of this earnings release. 2 “As reported” summary operating results for the periods presented reflect the composition of our reportable segments prior to July 1, 2024 as previously disclosed in the company’s filings with the SEC. 3 “Realigned, effective July 1, 2024” summary operating results for periods prior to July 1, 2024 were recast to reflect the realignment of the Strategic Deterrent Systems (SDS) division from Space Systems to Defense Systems effective July 1, 2024 as described in the company’s Form 8-K filed with the SEC on May 16, 2024. Results for periods subsequent to July 1, 2024 represent “As reported” actuals disclosed in the company’s filings with the SEC. 4 “Further realigned, effective January 1, 2025” summary operating results for the periods presented were recast to reflect the realignment of the Strike and Surveillance Aircraft Solutions (SSAS) business unit from Defense Systems to Aeronautics Systems effective January 1, 2025. Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com Northrop Grumman Reports Third Quarter 2025 Financial Results 17 Non-GAAP Financial Measures Disclosure: This earnings release contains non-GAAP (accounting principles generally accepted in the United States of America) financial measures, as defined by SEC Regulation G and indicated by a footnote in the text of the release. Definitions for the non-GAAP measures are provided below and reconciliations are provided in the body of the release, except that reconciliations of forward-looking non-GAAP measures are not provided because the company is unable to provide such reconciliations without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of certain items, including, but not limited to, the impact of any mark-to-market pension adjustment. Other companies may define these measures differently or may utilize different non-GAAP measures. MTM-adjusted EPS: Diluted earnings per share excluding the per share impact of MTM benefit (expense) and related tax impacts. This measure may be useful to investors and other users of our financial statements as a supplemental measure in evaluating the company’s underlying financial performance by presenting the company’s diluted earnings per share results before the non-operational impact of pension and OPB actuarial gains and losses. Segment operating income and segment operating margin rate: Segment operating income and segment operating margin rate (segment operating income divided by sales) reflect the combined operating income of our four segments less the operating income associated with intersegment sales. Segment operating income includes pension expense allocated to our sectors under FAR and CAS and excludes FAS pension service expense and unallocated corporate items. These measures may be useful to investors and other users of our financial statements as supplemental measures in evaluating the financial performance and operational trends of our sectors. These measures should not be considered in isolation or as alternatives to operating results presented in accordance with GAAP. Free cash flow: Net cash provided by or used in operating activities less capital expenditures. We use free cash flow as a key factor in our planning for, and consideration of, acquisitions, the payment of dividends and stock repurchases. This measure may be useful to investors and other users of our financial statements as a supplemental measure of our cash performance, but should not be considered in isolation, as a measure of residual cash flow available for discretionary purposes, or as an alternative to operating cash flows presented in accordance with GAAP. Organic sales: Total sales excluding sales attributable to the company’s former training services business. This measure may be useful to investors and other users of our financial statements as a supplemental measure in evaluating the company’s underlying sales growth as well as in understanding our ongoing business and future sales trends by presenting the company’s sales adjusted for the impact of the divestiture. # Northrop Grumman Corporation 2980 Fairview Park Drive • Falls Church, VA 22042-4511 news.northropgrumman.com

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.