Exhibit 99.5

June 21, 2022 Leonardo DRS Combination with RADA Announcement presentation +

DISCLAIMER FORWARD-LOOKING STATEMENTS AND INFORMATION This presentation includes certain forward looking statements and forward looking information within the meaning of the Private Securities Litigation Reform Act of or the Israeli Securities Law, 1968 (as applicable), (collectively, “FLI”), to provide Leonardo DRS, Inc.(“DRS”) and RADA Electronic Industries Ltd. (“RADA”) stockholders with information about DRS, RADA and their respective subsidiaries and affiliates. FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “target”, “believe”, “likely”, “seek”, “aim”, “project” and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI. In particular, this presentation contains FLI pertaining to, but not limited to, information with respect to the following: the transaction and its potential benefits; future business prospects and performance; future returns; cash flows and enhanced margins; synergies; and leadership and governance structure. Although we believe that the FLI is reasonable based on the information available today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. By its nature, FLI involves a variety of assumptions, which are based upon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results and outcomes to differ materially from those expressed or implied by these FLI, including, but not limited to, the following: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement; the timing and completion of the transaction, including receipt of regulatory approvals and RADA stockholder approval and the satisfaction of other conditions precedent; the realization of anticipated benefits and synergies of the transaction and the timing thereof; the success of integration plans; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of RADA; the focus of management time and attention on the transaction and other disruptions arising from the transaction; the volatility of the international marketplace; DRS’s anticipated public listing on the NASDAQ and Tel-Aviv Stock Exchange upon the anticipated closing of the transaction; potential adverse reactions or changes to business, government or employee relationships, including those resulting from the announcement or completion of the transaction; general U.S., Israeli, and global social, economic, political, credit and business conditions; changes in laws; regulations and government policies; changes in taxes and tax rates; customer, stockholder, regulatory and other stakeholder approvals and support; material adverse changes in economic and industry conditions; the pandemic created by the outbreak of COVID-19 and resulting effects on economic conditions; the ramifications of the Russia-Ukraine conflict, and other risks and uncertainties listed in DRS’s filings or RADA’s filings with the SEC, including under the heading “Risk Factors” in DRS’s most recently filed Annual Report on Form 10-K as such risk factors may be amended, supplemented or superseded from time to time by other filings with the SEC and under the heading “Risk Factors” in RADA’s most recently filed Annual Report on Form 20-F as such risk factors may be amended, supplemented or superseded from time to time. We caution that the foregoing list of factors is not exhaustive and is made as of the date hereof. Additional information about these and other assumptions, risks and uncertainties can be found in reports and filings by DRS and RADA with the U.S. Securities and Exchange Commission, including any prospectus, registration statement or other documents to be filed or furnished in connection with the transaction. Due to the interdependencies and correlation of these factors, as well as other factors, the impact of any one assumption, risk or uncertainty on FLI cannot be determined with certainty. Except to the extent required by law, DRS and RADA assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this presentation is expressly qualified in its entirety by these cautionary statements. NON-GAAP MEASURES In this presentation, we present certain financial measures that are not calculated in accordance with U.S. GAAP, such measures referred to herein as “non-GAAP.” These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing DRS’s and RADA’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that the presentation of these measures may not be comparable to similarly-titled measures used by other companies. DRS and RADA believe these non-GAAP measures provide useful information to management and investors regarding certain financial and business. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. See the appendix to this presentation for reconciliations to the most directly comparable U.S. GAAP measures. MARKET AND INDUSTRY DATA This presentation includes certain information and statistics obtained from third-party sources. None of DRS or RADA has independently verified the accuracy or completeness of any such third-party information. ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT DRS will file with the U.S. Securities and Exchange Commission (SEC) a registration statement on Form S-4, which will include a prospectus of DRS, and certain other documents in connection with the transaction. SHAREHOLDERS OF RADA ARE URGED TO READ THE PROSPECTUS AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT DRS, RADA, THE TRANSACTION AND RELATED MATTERS. The registration statement and prospectus and other documents filed or furnished by DRS and RADA with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. Alternatively, shareholders will be able to obtain free copies of the registration statement, prospectus and other documents which will be filed or furnished with the SEC by DRS by contacting DRS at +1 877 538 0912 or 2345 Crystal Drive Suite 1000 Arlington, Virginia 22202. NO OFFER OR SOLICITATION This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. These presentation does not constitute an offer of securities pursuant to the Israeli Securities Law, 1968, or a recommendation regarding the purchase of securities of RADA or DRS.

TODAY’S PRESENTERS WILLIAM J. LYNN, Chairman & CEO CEO of DRS since 2012 Served as Deputy Secretary of Defense (2009 – 2011), Under Secretary of Defense (CFO) (1997 – 2001) SVP of Raytheon (2002 – 2009) MICHAEL DIPPOLD, EVP & CFO CFO of DRS since 2017 17+ years of experience in A&D industry Previously served as Controller at Leonardo DRS and worked on defense industry client accounts at KPMG DOV (DUBI) SELLA, CEO CEO of RADA since 2016 Closing 20 years with RADA Previously served as executive at medical technology start-ups and 15 years of A&D industry experience with Elbit Systems

TRANSACTION OVERVIEW BENEFITS OF THE STRATEGIC COMBINATION RADA’s advanced tactical radar technologies improve DRS’s position as an air defense, counter UAS and vehicle protection integrator and accelerate its transformation into a leading provider of integrated systems Significantly increases RADA’s scale, competitiveness, program diversity and addressable market Together, the combined company will be well positioned to pursue global opportunities through the worldwide presence of Leonardo Expected to be accretive to RADA’s earnings per share in year 1 The 19.5% ownership in the combined company provided to RADA shareholders was designed to provide a premium in excess of 20%3 COMBINATION OVERVIEW RADA Electronic Industries (“RADA”) and Leonardo DRS (“DRS”), a wholly-owned subsidiary of Leonardo (MIL: LDO), are joining forces in an all-stock merger RADA shareholders to receive 1 share in Leonardo DRS for every 1 share in RADA Combined company to be owned 80.5% by Leonardo DRS shareholder and 19.5% by RADA shareholders on a fully diluted basis Combined company will be named Leonardo DRS and dual-listed post-close (“DRS” NASDAQ and TASE) Q4 2022 expected close, subject to approval of RADA stockholders and other customary closing conditions including the receipt of certain regulatory approvals Combined financials for 2021A of: $305mm2 Adj. EBITDA $179mm2 Adj. Net Income $2,733mm1 Revenue Note: Financial information represents a combined view of the two entities excluding previously announced divestitures. Please refer to the appendix for reconciliations to GAAP metrics; 1 Combined revenue has been adjusted for intercompany eliminations; 2 Combined Adjusted EBITDA and Adjusted Net Income represent the sum of Adjusted EBITDA and Adjusted Net Income, respectively, of RADA and DRS; 3 Based on RADA 30-day VWAP as of June 17, 2022 of $11.76

BUSINESS OVERVIEWS

Defense technology company with the mission to provide life-saving active protection solutions for global military tactical forces Offers best-in-class, software-defined, advanced low-SWaP-C tactical radars Pursuing a $6bn+ identified tactical radar opportunity over the next decade1 Merchant supplier on leading contracts in this market including to Leonardo DRS on M-SHORAD, Anduril on SOCOM SIP, USMC on GBAD, USAF on ABAD and Elbit on Iron Fist RADA – OVERVIEW KEY FINANCIAL HIGHLIGHTS ($mm) BUSINESS OVERVIEW Revenue Adjusted EBITDA GROWTH 58% 72% 54% MARGIN 6% 1% 13% 23% SOLUTIONS 2021A REVENUE BY GEOGRAPHY RADA radars on Anduril Sentry Tower for SOCOM SIP Note: Please refer to the appendix for reconciliations to GAAP metrics 1 Based on RADA management estimates

RADA – BEST-IN-CLASS, SOFTWARE-DEFINED TACTICAL RADARS MARKET OPPORTUNITY Counter-UAS Point Defense Active Protection Systems SHORAD On-the-Move 3D Perimeter Surveillance MISSION CRITICAL APPLICATIONS Increasing unmanned aerial systems and anti-tank guided missiles driving a need for solutions Recent examples: Ukraine conflict and notable U.S. uses on USS Boxer in the Strait of Hormuz and Ain al-Asad air base in Iraq Critical enabler of counter drone (c-UAS) solutions and technology leader for tactical radars Embedded on key force protection programs including M-SHORAD, SOCOM SIP, ABAD & Iron Fist APS

RADA – TARGETING AN ATTRACTIVE GLOBAL MARKET FORCE PROTECTION $3bn annual force protection market1 RADA targeting $6bn in radar opportunities over next 10 years2 Additional M-SHORAD Battalions Additional GBAD Vehicles Hundreds of fixed and mobile sites across USAF, USN and SOCOM Air Defense / Short-Range Surveillance Radar Programs: Customer / Integrator: Active Protection System Radar Programs: Customer / Integrator: Iron Fist IMoD Eitan AFV M-SHORAD USMC GBAD U.S. Army Stryker Brigades U.S. Army Next Generation Ground Vehicle Additional Bradley Brigades Australian L-400 FUTURE OPPORTUNITIES MARKET SIZE KEY RADA AWARDS MARKET SOCOM SIP 1 Based on third party research and DRS management estimates; 2 Based on RADA management estimates

LEONARDO DRS – OVERVIEW By Customer By Channel BUSINESS OVERVIEW KEY FINANCIALS ($mm)1 Revenue Adjusted EBITDA growth 19% 2% 5% margin 8% 8% 9% 10% 2021A REVENUE BREAKDOWN1 By Market Note: Please refer to the appendix for reconciliations to GAAP metrics; “Other” revenue by market related to pilot training systems, flight recorders, logistics equipment (cargo handlers / loaders, fuel systems, etc.) and commercial markets; 1 Historical financial information adjusted for previously announced divestitures. See the appendix. Leading provider of advanced defense electronics products and technologies shaping the future battlefield for the U.S. military Strong technology portfolio and large installed base across the Army & Navy Top mid-tier position provides agility to respond to customer needs, and a lean cost structure Market leader in Force Protection, Advanced Sensing, Network Computing and Electric Power & Propulsion markets Core markets are platform neutral and growing faster than the overall U.S. defense budget

DOMAIN / SOLUTIONS LEONARDO DRS – LARGE INSTALLED BASE ACROSS DIVERSITY OF PLATFORM, DOMAINS AND PRIMES DRS HIGHLIGHTS Advanced sensing Network computing Force protection Electric power & propulsion SUBMARINES Sole-source position on integrated propulsion system for entire Columbia Class fleet SURFACE SHIPS DRS content on nearly 100% of U.S. Navy Combatant Vessel Fleet GROUND VEHICLES Mission command computing system on nearly every Army ground vehicle DISMOUNTED WARFIGHTER 20+ year incumbency on dismounted soldier sensing AIRCRAFT Infrared countermeasure capabilities driving strong positions on U.S. Army programs of record and next generation navy systems KEY PLATFORM POSITIONS SSBN - Columbia SSBN - Ohio Destroyers Amphibious Transport Dock Aircraft Carriers M-2 Bradley M-1 Abrams JETS FWS-I Weapon Sights Apache Seahawk F-35 Stryker M SHORAD SSN - Virginia Dismounted EW

LEONARDO DRS OF TODAY – FRANCHISE POSITIONS ACROSS RAPIDLY GROWING SEGMENTS OF THE U.S. DEFENSE MARKETS Network Computing 22% revenue1 Note: Remaining 16% of revenue related to pilot training systems, flight recorders, logistics equipment (cargo handlers / loaders, fuel systems, etc.) and commercial markets; 1 Historical financial information adjusted for previously announced divestitures. See the appendix. 2 Per third-party research and DRS management estimates for FY 2022 funding; 3 Projected FY 22 – 26 CAGR KEY MARKETS ANNUAL MARKET SIZE2 GROWTH OUTLOOK2,3 FRANCHISE DRS POSITIONS $3.3bn Mounted family of computer systems Naval comprehensive display systems +4% Advanced Sensing 25% revenue1 3rd Generation Infrared Sensing Joint effects targeting system $7.6bn +5% Force Protection 18% revenue1 $3.1bn M-SHORAD short range air defense SH-60 aircraft protection system (DAIRCM) +4% Electric Power & Propulsion 19% revenue1 $5.2bn Columbia class electric power and propulsion Patriot battery on board vehicle power +10%

Proliferation of Weaponized Drone Technology Increased demand signals in current geopolitical environment Proliferation of rocket, artillery and mortars Multi-billion short-range air defense opportunity identified in the U.S. and globally1 Counter-unmanned aerial systems opportunity Integrated sensing, communications, and computing to make sense of the battlefield Multiple new satellite Constellations planned: IR Sensing at LEO and MEO Orbits RF and Optical Communications at LEO Orbits JADC2, requires integration of sensing and connectivity As a result, Future Army, USMC, USAF and Naval platforms require increased sensing capabilities Hypersonic threats driving new space sensing requirements Space Force Architecture includes LEO constellations with frequent sensor upgrades to address evolution of threats Short Range Air Defense Integrated Sensing Space Sensing CAPABILITY DRIVERS OF CAPABILITY NEED DRS OPPORTUNITY LEONARDO DRS OF TOMORROW – KEY GROWTH DRIVERS THAT ARE SHAPING THE BATTLEFIELD OF THE FUTURE $300mm annual Columbia Class incumbency through 20321 $6bn electrification opportunity across new ship classes including DDGx and SSNx1 Increased Power flexibility needs for Sensing, Computing, Directed Energy Weapons Increased acoustic performance requirements Focus on China and Russia threats Electrification 1 DRS management estimate

COMBINATION RATIONALE AND HIGHLIGHTS

Unlock Value for Shareholders SUMMARY COMBINATION HIGHLIGHTS International Expansion Opportunities Complementary Technologies in Force Protection Market Increases RADA Scale, Program Diversity and Addressable Market Balance Sheet Flexibility

DRS AND RADA – A LEADING DEFENSE TECHNOLOGY COMPANY COMBINED FOCUS MARKETS1,4 Sense Protect Make Sense Propel Note: Remaining 16% of revenue related to pilot training systems, flight recorders, logistics equipment (cargo handlers / loaders, fuel systems, etc.) and commercial markets; 1 Financial information represents a combined view of RADA and DRS excluding previously announced divestitures. Please refer to the appendix for reconciliations to GAAP metrics; 2 Combined revenue has been adjusted for intercompany eliminations; 3 Combined Adjusted EBITDA represents the sum of Adjusted EBITDA of RADA and DRS 4 Per third-party research and DRS management estimates ADVANCED SENSING NETWORK COMPUTING FORCE PROTECTION ELECTRIC POWER & PROPULSION ($bn PF 2021A revenue) COMBINED FINANCIAL PROFILE1 $305mm3 of 2021A Adj. EBITDA $19bn addressable market annually4 $2,733mm2 of 2021A Revenue No single program >10% of 2021A Revenue +

DRS AND RADA WILL DEFINE THE FUTURE OF SENSING System designer and integrator of an integrated solution for warfighters + FUTURE COLLABORATION OPPORTUNITIES CURRENT FORCE PROTECTION COLLABORATION STRYKER M-SHORAD FUTURE AUTONOMOUS VEHICLE Integrated Solution Sensors Cognitive Computing Adaptive Propulsion Force Protection Communication RADA tactical radars are the “eyes” of DRS’ force protection solution for the Stryker M-SHORAD platform The conflict in Ukraine highlights the need for Short-Range Air Defense solutions, which are now one of global defense industry’s highest priorities Current sensing, communications, propulsion and computing systems are federated and aligned to individual soldiers Combination provides combined company with enhanced ability to provide a differentiated, integrated solutions to warfighters System designer and integrator of M-SHORAD force protection system Provides advanced tactical radars (MHR) critical to System provided by DRS

COMBINED GLOBAL FOOTPRINT CREATES OPPORTUNITIES IN RESHAPED ROBUST DEFENSE MARKET RESHAPED GLOBAL DEFENSE MARKET Growth on existing U.S. platforms and programs Battle management systems for Eastern Europe M-SHORAD and other counter-UAS solutions for Eastern Europe Individual weapon sights needed for Eastern Europe Leonardo to provide European access for c-UAS opportunities Increased access for RADA technologies into the international market through U.S. FMS SELECT OPPORTUNITIES “From violent extremists to great powers, everyone is using unmanned aerial systems.” “I believe that’s today’s IED.” General McConville, U.S. Army Chief of Staff, 3/8/22

BALANCE SHEET FLEXIBILITY FOR M&A AND DIVIDEND DISTRIBUTION 3/31/22A Q1 Net Debt / (Cash)1 $263 ($66) $197 3/31/22A Last Twelve Months (LTM) Adj. EBITDA $2812 $24 $305 Q1 2022 Net Debt (Cash) / Adj. EBITDA 0.9x (2.8x) 0.6x Mid-Cap Defense Large-Cap Defense COMBINED BALANCE SHEET DETAIL Q1 LTM NET DEBT / ADJ. EBITDA Note: Financial information represents a combined view of the two entities excluding previously announced divestitures. Please refer to the appendix for reconciliations to GAAP metrics; 1 Net financial debt, excludes Leonardo DRS finance leases; 2 Adjusted for impact of previously announced divestitures Estimated to be <0.5x at close + +

Note: Peer data sourced from public filings, FactSet. Peers include General Dynamics, L3Harris, Lockheed Martin, Northrop Grumman, Raytheon Technologies, Elbit Systems, Curtiss-Wright, Mercury Systems, Chemring; 1 Based on RADA share price as of 6/17/2022, fully diluted RADA share count of ~51.5 (pre-transaction) and 80.5% PF ownership for DRS; 2 Financial information represents a combined view of RADA and DRS excluding previously announced divestitures. Please refer to the appendix for reconciliations to GAAP metrics UNLOCKING VALUE FOR SHAREHOLDERS COMBINED LEONARDO DRS VERSUS PEERS Combined business is well positioned versus peers –historical growth has outperformed ~18% outperformance MULTIPLE UPLIFT WOULD UNLOCK VALUE FOR SHAREHOLDERS Attractive implied transaction multiple for DRS relative to peers; multiple expansion over time would create value for all shareholders $11.64 At current RADA share price Value creation over time 1 ~3% outperformance 2 2

FINANCIAL OVERVIEW

COMBINED FINANCIAL HIGHLIGHTS Alignment with diverse set of high-growth DoD programs Installed base across variety of defense platforms Resilient to budget changes: No contract >10% of revenue, platform independent go-to-market approach LARGE INSTALLED BASE AND DIVERSE PORTFOLIO Foundational defense programs / track record of retaining incumbent positions resulting in high confidence revenue outlook 9% PF historical revenue growth (2018-2021) Technical capabilities, market alignment and contract incumbencies driving long term growth that will exceed defense peers HIGHLY VISIBLE REVENUE PROJECTIONS Program lifecycle transition from development to production, operational improvements, transaction synergies and organic revenue growth will drive continued margin expansion >300bps of margin expansion between 2018 and 2021 150-200bps of margin expansion through 2023, with mid-teens margins targeted longer term MARGIN EXPANSION FROM LIFECYCLE TRANSITION 22% Adj. EBITDA CAGR between 2018-2021 as a result of strong earnings growth and margin expansion Low double-digit Adj. EBITDA CAGR expected through 2023 and over longer-term STRONG EARNINGS GROWTH OUTLOOK Note: Peer data based on public filings, FactSet; Peers include General Dynamics, L3Harris, Lockheed Martin, Northrop Grumman, Raytheon Technologies, Elbit Systems, Curtiss-Wright, Mercury Systems, Chemring; 1 Based on RADA current share price, fully diluted RADA share count of ~51.5 (pre-deal) and 80.5% PF ownership for DRS; 2 Financial information represents a combined view of RADA and DRS excluding previously announced divestitures. Please refer to the appendix for reconciliations to GAAP metrics

COMBINED HISTORICAL FINANCIALS (EXCLUDING PREVIOUSLY ANNOUNCED DIVESTITURES, $MM) Growth: Margin: REVENUE1 ADJUSTED EBITDA2 2018–2021 CAGR: 9% 2018–2021 CAGR: 22% ADJUSTED NET INCOME2 ADJUSTED FREE CASH FLOW2 NM 28% 58% Adj. NI Conversion3: 121% 92% 52% Growth: 20% 3% 5% 8.0% 8.2% 9.2% 11.2% Note: Please refer to the appendix for reconciliations to GAAP metrics; 1 Combined revenue has been adjusted for intercompany eliminations; 2 Combined Adjusted EBITDA, Adjusted Net Income and Adjusted Free Cash Flow represent the sum of Adjusted EBITDA, Net Income or Adjusted Net Income and Free Cash Flow or Adjusted Free Cash Flow, respectively, of RADA and DRS; 3 Defined as Adjusted Free Cash Flow Divided by Adjusted Net Income

COMBINED 2023 TARGETS AND LONGER TERM OUTLOOK Mid single-digit CAGR from 2021A combined base of $2,733mm Mid to high single-digit CAGR Balance sheet flexibility supports investments in inorganic growth (M&A) Adj. EBITDA margin expansion of 150-200 bps from 2021A combined base of 11.2% Low double-digit Adj. EBITDA CAGR from 2021A base of $305mm Adj. EBITDA margins in the mid-teens Low double-digit adjusted Adj. EBITDA CAGR Mid-teens adj. net income CAGR from 2021A combined base of $179 Low double-digit adj. net income CAGR Adj. net income conversion to adjusted free cash flow greater than or equal to 90% Adj. net income conversion to adjusted free cash flow greater than or equal to 90% REVENUE ADJUSTED EBITDA ADJUSTED NET INCOME 2023 TARGETS (ORGANIC) LONGER TERM OUTLOOK ADJUSTED FREE CASH FLOW Note: Financial information represents a combined view of RADA and DRS excluding previously announced divestitures. Please refer to the appendix for reconciliations to GAAP metrics

Q&A

GAAP RECONCILIATIONS

RADA RECONCILIATIONS (US dollars in millions) 2018 2019 2020 2021 2021 Q1 2022 Q1 LTM Net income (loss) ($0.2) ($2.3) $5.6 $25.1 $3.8 ($0.7) $20.6 Tax expense 0.0 0.0 0.0 (4.9) 0.0 (0.2) (5.0) Financial expense (income), net 0.3 0.2 (0.2) 0.2 (0.2) (0.0) 0.4 Depreciation 0.8 1.2 2.3 3.7 0.8 1.2 4.1 Employee option compensation 0.9 1.1 1.4 3.0 0.5 0.9 3.4 Other non-cash amortization 0.0 0.1 0.5 0.2 0.0 0.1 0.3 Adjusted EBITDA $1.8 $0.4 $9.7 $27.3 $4.8 $1.3 $23.8 Adjusted EBITDA (US dollars in millions) 2018 2019 2020 2021 Net cash provided by (used in) operating activities ($3.9) ($3.5) $3.6 ($4.4) Purchase of property, plant and equipment (0.9) (4.1) (4.9) (6.2) Construction in process (0.3) (0.5) (0.1) 0.0 Consideration from fixed asset sale 0.3 0.0 0.0 0.0 Free cash flow ($4.8) ($8.0) ($1.3) ($10.5) Free Cash Flow

LEONARDO DRS RECONCILIATIONS ($ in millions) 2018 2019 2020 2021 Total revenues $2,333 $2,714 $2,778 $2,879 Less divestiture impact $256 $236 $254 $232 Revenue less divestitures $2,077 $2,478 $2,524 $2,647 Revenue (Adjusted for Previously Announced Divestitures) ($ in millions) 2018 2019 2020 2021 2021 Q1 2022 Q1 LTM Net earnings ($10) $75 $85 $154 $28 $36 $162 Income tax provision (7) 20 27 46 13 12 46 Amortization of intangibles 93 9 9 9 2 2 9 Depreciation 35 42 44 49 12 13 50 Restructuring costs 14 20 12 5 0 0 5 Interest expense 58 65 64 35 9 8 34 Deal related transaction costs 0 0 9 5 4 2 3 Foreign exchange 3 0 1 1 0 0 1 COVID-19 response costs 0 0 12 6 3 0 3 Non-service pension expense 1 3 5 0 0 0 0 Adjusted EBITDA $187 $234 $268 $310 $71 $73 $312 Less divestitures: Net earnings 15 20 28 22 4 4 22 Income tax provision 5 6 8 7 1 1 6 Depreciation 1 1 1 3 1 0 2 Adjusted EBITDA less divestitures $166 $207 $231 $278 $64 $68 $281 Adjusted EBITDA

LEONARDO DRS RECONCILIATION (CONT’D) Adjusted Free Cash Flow ($ in millions) 2018 2019 2020 2021 Net cash provided by operating activities $105 $157 $125 $178 Less capital expenditures, net 40 55 56 60 Proceeds from sale of assets 0 8 5 0 Free cash flow $65 $110 $74 $118 Less divestitures 10 30 19 34 Free cash flow less divestitures $54 $80 $56 $84 Third party debt interest adjustment 44 46 44 15 Deal related transaction costs 0 0 9 5 Covid-19 response costs 0 0 12 6 Less Tax Impact 10 11 15 6 Adjusted free cash flow less divestitures $88 $115 $105 $104 ($ in millions) 2018 2019 2020 2021 Net earnings (loss) ($10) $75 $85 $154 Deal related transaction costs 0 0 9 5 Covid-19 response costs 0 0 12 6 Adjusted net income ($10) $75 $106 $165 Less divestiture impact 15 20 28 22 Adjusted net income excluding divestitures ($25) $55 $77 $143 Third party debt interest adjustment 44 46 44 15 Less Tax Impact 10 11 14 5 Adjusted net income less divestitures $9 $91 $107 $153 Adjusted Net Income

COMBINED COMPANY RECONCILIATIONS ($ in millions) 2021 Total Revenues Leonardo DRS $2,647 RADA 117 Elimination Intercompany (31) Combined Revenue $2,733 Combined Revenue (Adjusted for Previously Announced Divestitures) ($ in millions) Leonardo DRS RADA Combined Intercompany with Parent $ 367 $ 0 $ 367 Finance leases and other 164 0 164 Short term borrowings 9 0 9 Total Debt $540 $0 $540 Less Finance leases and other 164 0 164 Less Cash and cash equivalents at the end of period 113 66 179 Net Financial Debt $263 ($66) $197 March 31, 2022 Net Financial Debt