Northrop Grumman Corporation (NOC) Presents at Morgan Stanley's 14th Annual Laguna Conference Transcript

Northrop Grumman Corporation ( NOC ) Morgan Stanley's 14th Annual Laguna Conference September 17, 2026 12:15 PM EDT Company Participants Kathy Warden - Chair, CEO & President Conference Call Participants Kristine Liwag - Morgan Stanley, Research Division Presentation Kristine Liwag Morgan Stanley, Research Division Hello. Good morning, everyone. I'm Kristine Liwag, Morgan Stanley's Head of Aerospace and Defense Equity Research. I'm very, very excited to host our next panel with Kathy Warden, Chairman and CEO of Northrop Grumman. Kathy, welcome. Kathy Warden Chair, CEO & President Thank you, Kristine. It's great to be back with you. Kristine Liwag Morgan Stanley, Research Division So as you guys know, for important disclosures, please see the Morgan Stanley research disclosure website at www.morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley representative. So with that, Kathy, I'm very excited for you to come back here at Laguna. So maybe I'll pass it on to you for some opening remarks. Kathy Warden Chair, CEO & President Yes. Well, let me start, too, with a couple of disclosures. First, I am likely to make forward-looking statements throughout the conversation, and those have inherent uncertainties and risks, so please refer to our SEC filings, which you can find on the Northrop Grumman website for a full list and discussion of those risks. Just want to start by saying that we are in a very robust demand environment. When Kristine and I were together here a year ago, I believe I characterized it as the most robust I've seen in the 20-plus years that I've been in the industry. And as I sit here today, that environment is translating into backlog and awards for our company not just in the United States, but with our allies around the globe. We have a record backlog once again. We continue to build on