Primary Markets and Programs The markets and key programs we serve are: Aerospace. We specialize in the development and production of propulsion and power systems for space applications. Our products include a broad market offering of both electric and chemical propulsion, including liquid propellant engines and solid rocket motors, required for launch vehicle and in-space applications supporting defense, civil and commercial missions. Our space products have a long, successful flight heritage with the U.S. government and we continue to provide strong support of National Security Space requirements enabling communications, navigation, intelligence, surveillance, and reconnaissance ("ISR") missions. We provide first stage and upper stage liquid propulsion for ULA’s Delta IV Heavy launch vehicle as well as the liquid upper stage propulsion for the Atlas V launch vehicle in support of the National Security Space Launch ("NSSL") program. During 2020, the U.S. Space Force selected ULA as one of two launch service providers under the NSSL Phase 2 Launch Services Procurement ("LSP") with its new Vulcan Centaur launch vehicle and we will supply two RL10 upper stage engines to ULA for each Vulcan Centaur mission. We continue to support the exploration of deep space. During 2020, NASA made significant progress in returning the U.S. to the Moon with the Artemis program and we are a critical contributor to multiple elements of this historic endeavor. This year, NASA began a series of final tests on the core stage of the Space Launch System ("SLS") Artemis I rocket, powered by our RS-25 liquid rocket engines. During 2020, we also completed all hardware for the first crewed flight of NASA’s SLS rocket and Orion crew module, Artemis II. Additionally, in 2020, we were awarded a follow-on contract from NASA for $1.8 billion to deliver 18 RS-25 engines to power the SLS heavy-lift exploration rocket, bringing the total number of new RS-25s on order to 24. In support of Low Earth Orbit human spaceflight initiatives, astronauts installed the final sets of our Lithium-Ion ("Li-Ion") batteries into the International Space Station’s ("ISS") power system in 2020. Over the course of this three and half year endeavor a total of 24 of our Li-Ion batteries replaced the 48 obsolete nickel hydrogen batteries. In addition, we supply critical propulsion hardware for Boeing’s CST-100 Starliner spacecraft for NASA, which will usher in a new era of commercial human spaceflight by ferrying astronauts to and from the ISS for NASA. In the commercial market, we provide in-space propulsion products to major U.S. commercial satellite manufacturers. Our in-space propulsion products and systems also support critical U.S. government and civil spacecraft programs. We are playing a critical role in NASA’s Mars 2020 mission, launched in July 2020. The Perseverance Rover ("Perseverance") relies on our propulsion systems during launch, entry, descent, and landing phases of the mission. Additionally, while operating on the Mars surface, Perseverance will be powered by an Aerojet Rocketdyne-supplied Multi-Mission Radioisotope Thermoelectric Generator. Also in 2020, we delivered our dual chemical and electric propulsion system for NASA’s Double Asteroid Redirection Test ("DART") spacecraft which will be the first demonstration of a kinetic impactor striking an asteroid at high speed in order to change the asteroids motion in space. We continued to mature critical technologies for our nation’s next generation of advanced hydrocarbon engines for future high-performance launch systems. In February 2016, the USAF awarded Aerojet Rocketdyne a Rocket Propulsion System Other Transaction Agreement ("OTA"), a public-private partnership, to develop the AR1 engine. Following the decision by the Launch Services Program competitors not to incorporate the AR1 in their new launch vehicle designs, we signed a modification to the existing OTA to design, build, and assemble only one AR1 engine. The assembly of the AR1 engine was completed in 2020. A subset of our key space programs include: (i) RL10 and RS-68 engines/boosters that power the NSSL program, (ii) RS-25 main and RL10 upper stage engines that power NASA’s SLS heavy-lift rocket for deep space exploration, (iii) propulsion for the Orion human spacecraft and the Starliner Commercial Crew Transportation Capability capsule, (iv) power systems for ISS and science missions, and (v) multiple in-space electric and chemical propulsion systems to provide orbit raising and satellite positioning. Defense.  We specialize in the development and production of propulsion systems for defense applications including both solid and liquid propellant based systems, along with air-breathing (ramjet and hypersonic scramjet) systems for missile applications. The majority of these systems are the primary axial propulsion for missile systems. We also develop and manufacture liquid and solid divert and attitude control ("DACs") propulsion systems for missile defense applications. These are complex systems that provide multi-directional thrust and variable thrust levels to steer or control an intercept missile. Additionally, we develop and manufacture post-boost propulsion systems for strategic missiles. These systems provide directional control for ground and sea-based strategic missiles. Using our energetics expertise we also design, develop, and produce warhead/lethality systems for tactical missiles. Our tactical armament products have been successfully fielded on multiple active U.S. and international weapon system platforms. The breadth of our products includes tactical missiles, missile defense interceptors, hypersonic systems and strategic boosters and post-boost systems for a variety of applications. During 2020, we continued to expand our strong legacy propulsion franchises on the Standard Missile, Patriot Advanced Capability-3 ("PAC-3"), Terminal High Altitude Area Defense ("THAAD") and Guided Multiple Launch Rocket System ("GMLRS") missile programs, to include Raytheon awarding a five-year, $1 billion strategic agreement to address Standard Missile propulsion products. These franchise programs continue to be globally deployed in support of U.S. and allied armed forces. 2