US Aerospace & Defense: Chart of the Day: Positioning Data Ahead of 2Q26 Is Largely Unchanged Across A&D

Research evidence excerpt

US Aerospace & Defense: Chart of the Day: Positioning Data Ahead of 2Q26 Is Largely Unchanged Across A&D

Inc. or its affiliates currently has, or had within the past 12 months, the following as clients, and the

services provided were non-investment-banking, non-securities-related: Boeing Company,Curtiss-Wright Corp,General

Dynamics Corp,General Electric,HEICO Corp,Howmet Aerospace Inc,LOAR Holdings Inc,Leidos Holdings Inc,Lockheed Martin

Corporation,Northrop Grumman Corp,OSI Systems Inc,Parsons Corporation,RTX Corporation,Science Applications

International Corp,Teledyne Technologies Inc,Textron Inc,V2X, Inc.,VSE Corp.

Citigroup Global Markets Inc. and/or its affiliates has a significant financial interest in relation to Boeing Company,Curtiss-

Wright Corp,General Electric,HEICO Corp,Howmet Aerospace Inc,LOAR Holdings Inc,Leidos Holdings Inc,Lockheed Martin

Corporation,Northrop Grumman Corp,OSI Systems Inc,RTX Corporation,Science Applications International Corp,Textron

Inc,V2X, Inc.. (For an explanation of the determination of significant financial interest, please refer to the policy for managing

conflicts of interest which can be found at www.citiVelocity.com.)

Analysts’ compensation is determined by Citi Research management and Citigroup’s senior management and is based upon

activities and services intended to benefit the investor clients of Citigroup Global Markets Inc. and its affiliates (the “Firm”).

Compensation is not linked to specific transactions or recommendations. Like all Firm employees, analysts receive

compensation that is impacted by overall Firm profitability which includes investment banking, sales and trading, and

principal trading revenues. One factor in equity research analyst compensation is arranging corporate access events between