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Press Release: Motorola Solutions Reports -8-

· 02/04/2021 16:10
Years Ended ---------------------------------------- December 31, 2020 December 31, 2019 % Change ------------------- ------------------- ------------ Products and Systems Integration $ 4,634 $ 5,329 (13)% Software and Services 2,780 2,558 9% --- -------- ---- --- -------- ---- Total Motorola Solutions $ 7,414 $ 7,887 (6)% --- -------- ---- --- -------- ---- ------- Non-GAAP Operating Earnings ------------------------------------------------------------------------ Three Months Ended ---------------------------------------- December 31, 2020 December 31, 2019 % Change ------------------- ------------------- ------------ Products and Systems Integration $ 408 $ 484 (16)% Software and Services 259 223 16% --- -------- ---- --- -------- ---- Total Motorola Solutions $ 667 $ 707 (6)% --- -------- ---- --- -------- ---- ------- Years Ended ---------------------------------------- December 31, 2020 December 31, 2019 % Change ------------------- ------------------- ------------ Products and Systems Integration $ 880 $ 1,173 (25)% Software and Services 955 802 19% --- -------- ---- --- -------- ---- Total Motorola Solutions $ 1,835 $ 1,975 (7)% --- -------- ---- --- -------- ---- ------- Non-GAAP Operating Earnings % ------------------------------------------------------------------------ Three Months Ended ---------------------------------------- December 31, 2020 December 31, 2019 ------------------- ------------------- Products and Systems Integration 27.0% 28.9% Software and Services 33.9% 31.7% Total Motorola Solutions 29.3% 29.7% --- -------- --- --- -------- --- Years Ended ---------------------------------------- December 31, 2020 December 31, 2019 ------------------- ------------------- Products and Systems Integration 19.0% 22.0% Software and Services 34.3% 31.4% Total Motorola Solutions 24.8% 25.0% --- -------- --- --- -------- --- Non-GAAP-3 Motorola Solutions, Inc. and Subsidiaries Operating Earnings after Non-GAAP Adjustments Q1 2020 ---------------------------------------------------------------------- Products and Systems Software and TOTAL Integration Services -------------------- ---------- ------------------ --------------- Net sales $1,655 $ 993 $ 662 Operating earnings ("OE") $ 259 $ 92 $ 167 --------------------- ----- --- ------ ----- ------ --- Above-OE non-GAAP adjustments: Intangibles amortization expense 53 12 41 Share-based compensation expenses 38 27 11 Hytera-related legal expenses 25 25 - Reorganization of business charges 18 14 4 Acquisition-related transaction fees 2 1 1 Legal settlements 2 2 - Gain on sale of property, plant, and equipment (50) (50) - ----- --- ------ ---- ------ --- Total above-OE non-GAAP adjustments 88 31 57 --------------------- ----- --- ------ ----- ------ --- Operating earnings after non-GAAP adjustments $ 347 $ 123 $ 224 --------------------- ----- --- ------ ----- ------ --- Operating earnings as a percentage of net sales - GAAP 15.6% 9.3% 25.2% Operating earnings as a percentage of net sales - after non-GAAP adjustments 21.0% 12.4% 33.8% ----- --- ------ ---- ------ Q2 2020 ---------------------------------------------------------------------- Products and Systems Software and TOTAL Integration Services -------------------- ---------- ------------------ --------------- Net sales $1,618 $ 968 $ 650 Operating earnings ("OE") $ 218 $ 49 $ 169 --------------------- ----- --- ------ ----- ------ --- Above-OE non-GAAP adjustments: Intangibles amortization expense 51 12 39 Reorganization of business charges 41 33 8 Share-based compensation expenses 31 22 9 Legal settlements 7 7 - Hytera-related legal expenses 5 5 - Fixed asset impairment 5 3 2 Acquisition-related transaction fees 1 - 1 ----- --- ------ ----- ------ --- Total above-OE non-GAAP adjustments 141 82 59 --------------------- ----- --- ------ ----- ------ --- Operating earnings after non-GAAP adjustments $ 359 $ 131 $ 228 --------------------- ----- --- ------ ----- ------ --- Operating earnings as a percentage of net sales - GAAP 13.5% 5.1% 26.0% Operating earnings as a percentage of net sales - after non-GAAP adjustments 22.2% 13.5% 35.1% ----- --- ------ ---- ------ Q3 2020 ---------------------------------------------------------------------- Products and Systems Software and TOTAL Integration Services -------------------- ---------- ------------------ --------------- Net sales $1,868 $ 1,163 $ 705 Operating earnings ("OE") $ 352 $ 164 $ 188 --------------------- ----- --- ------ ----- ------ --- Above-OE non-GAAP adjustments: Intangibles amortization expense 54 12 42 Share-based compensation expenses 31 22 9 Reorganization of business charges 13 10 3 Acquisition-related transaction fees 5 3 2 Hytera-related legal expenses 5 5 - Pelco purchase accounting adjustment 3 3 - ----- --- ------ ----- ------ --- Total above-OE non-GAAP adjustments 111 55 56 --------------------- ----- --- ------ ----- ------ --- Operating earnings after non-GAAP adjustments $ 463 $ 219 $ 244 --------------------- ----- --- ------ ----- ------ --- Operating earnings as a percentage of net sales - GAAP 18.9% 14.1% 26.7% Operating earnings as a percentage of net sales - after non-GAAP adjustments 24.8% 18.8% 34.6% ----- --- ------ ---- ------ Q4 2020 ---------------------------------------------------------------------- Products and Systems Software and TOTAL Integration Services -------------------- ---------- ------------------ --------------- Net sales $2,273 $ 1,510 $ 763 Operating earnings ("OE") $ 555 $ 351 $ 204 --------------------- ----- --- ------ ----- ------ --- Above-OE non-GAAP adjustments: Intangibles amortization expense 57 13 44 Share-based compensation

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February 04, 2021 16:10 ET (21:10 GMT)