Motorola : Q1 2024 Snapshot

Q1 2024

Financial Results

"Q1 was an outstanding quarter, with record Q1 revenue in both segments and record Q1 cash flow. Our continued robust backlog and strong balance sheet position us well going forward. As a result, we're raising both our revenue and earnings expectations for the full year."

Greg Brown, Chairman and CEO

Q1 2024

Q1 Overview

Revenue	$2.4B	10%
GAAP EPS	($0.23)*		Non-GAAP EPS3	$2.81	27%
GAAP Operating	$519M	30%	Non-GAAP Operating	$638M	20%
Earnings	Earnings3
*Inclusive of a ($3.42)2 loss due to settlement accounting for the Silver Lake convertible debt
Q1 Segment Revenue		Q1 Regional Revenue
Products & Systems	$1.5B	14%	North America	$1.7B	13%
Integrations
Software & Services	$899M	4%**	International	$696M	3%

**Up 12%1 excluding U.K. Home Office sales

Q1 Highlights

• Sales of $2.4 billion, up 10% versus a year ago
• Products and Systems Integration sales up 14%
• Software and Services sales up 4%; up 12%1 excluding U.K. Home Office sales
• Record Q1 operating cash flow of $382 million, up $390 million versus a year ago
• Record ending backlog of $14.4 billion, up 2% versus a year ago
• Credit ratings upgraded to BBB by S&P and Fitch; issued $1.3 billion in long-term debt and settled
  Silver Lake convertible debt in cash
• Acquired Silent Sentinel, a provider of specialized, long-range cameras

2024 Guidance

• Raised full-year revenue and earnings guidance:
  The company now expects revenue growth of approximately 7%, up from its prior guidance of approximately 6%, and non-GAAP EPS of between $12.98 and $13.08 per share, up from its prior guidance of between $12.62 and $12.72 per share.

Q1 Technology Revenue

Our Public Safety Summit

LMR Communications

Command Center

$1.8B

$169M

				Our 2024 Summit, attended by more than 1,300 public
10%	Video Security &	$398M	11%	safety customers, demonstrated our close customer
Access Control	collaboration and continued innovation focused on
				solving for safer communities. This year's conference
9%				showcased how AI can serve as a force multiplier for
			agencies, helping to simplify emergency response,

bolster awareness and reduce responder stress.

Percent changes from year-ago quarter.

1 Net sales excluding U.K. Home Office sales is a non-GAAP financial measure that reflects net sales calculated under GAAP excluding net sales related to the U.K. Home Office. A reconciliation of this non-GAAP financial measure to the most comparable GAAP measure and a disclosure on the usefulness of this non-GAAP measure are provided in our earnings release available on our website at motorolasolutions.com/investors.

• A $3.42 pre-taxnon-operating loss on the extinguishment of the Silver Lake convertible debt recorded during Q1 2024 is calculated as the loss of $585 million divided by dilutive shares of 171.3 million, which represents the dilutive share count that the Company would have reported in the quarter if not for the loss due to this transaction.

3 Non-GAAP financial information excludes the after-tax impact of approximately $3.04 per diluted share related to highlighted items, including the loss from the extinguishment of Silver Lake convertible debt, share-based compensation expense and intangible assets amortization expense. Reconciliations of the non-GAAP financial measures to the most comparable GAAP measures are provided, along with a disclosure on the usefulness of the non-GAAP measures, in our earnings release available on our website at motorolasolutions.com/investors.

We have not quantitatively reconciled our guidance for forward-lookingnon-GAAP measures to their most comparable GAAP measures because we do not provide specific guidance for the various reconciling items as certain items that impact these measures have not occurred, are out of our control, or cannot be reasonably predicted. Accordingly, a reconciliation to the most comparable GAAP financial measure is not available without unreasonable effort. Please note that the unavailable reconciling items could significantly impact our results.

This document contains "forward-looking statements" within the meaning of applicable federal securities law, including Motorola Solutions' financial outlook for the full-year of 2024. These statements are based on our current expectations as of today, and we can give no assurance that the statements discussed will be achieved. For a description of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this document, please refer to our reports on Forms 10-K,10-Q and 8-K filed with or furnished to the SEC from time to time, which are also available on our website at motorolasolutions.com/investors.

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