Highlights:

* Net Awards Total $20.3 Billion; 2.2 Book to Bill

* Total Backlog Increases to Record $81.3 Billion

* Sales Increase 7 Percent to $9.1 Billion

* EPS Increase 7 Percent to $5.89

* Cash from Operations Increases 19 Percent to $1.4 Billion

* Free Cash Flow1

* Increases 22 Percent to $1.1 Billion

* 2020 Guidance Raised; Company Now Expects Sales of $35.7 to $36 Billion, MTM-adjusted

* EPS1

* of $22.25 to $22.65, and Free Cash Flow1 of $3.3 to $3.6 Billion

FALLS CHURCH, Va. - - Northrop Grumman Corporation (NYSE: NOC) reported third quarter 2020 sales increased 7 percent to $9.1 billion from $8.5 billion in the third quarter of 2019. Third quarter 2020 net earnings increased 6 percent to $1.0 billion, or $5.89 per diluted share, from $933 million, or $5.49 per diluted share, in the third quarter of 2019.

'Northrop Grumman had a strong third quarter as we continue to execute our growth strategy, deliver solid program performance and focus on the well-being of our people,' said Kathy Warden, chairman, chief executive officer and president. 'In both our third quarter and year to date results, we achieved higher sales, earnings and cash, while strengthening our foundation for the future with robust new business awards and a record backlog. We are pleased to offer the solutions and innovations that are being selected by our customers to enable their highest priority missions.'

1 Non-GAAP measure - see definitions at the end of this earnings release.

Northrop Grumman Reports Third Quarter 2020 Financial Results 2

Northrop Grumman Corporation

2980 Fairview Park Drive * Falls Church, VA 22042-4511

news.northropgrumman.com

Consolidated Operating Results and Cash Flows: See results at: https://investor.northropgrumman.com/static-files/0bc57799-8c28-4b30-aac9-a6a1f6f559a2

Contact: Tim Paynter (Media)

703-280-2720 (office)

timothy.paynter@ngc.com

Todd Ernst (Investors)

703-280-4535 (office)

todd.ernst@ngc.com

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