<SEC-DOCUMENT>0001214659-24-006444.txt : 20240410
<SEC-HEADER>0001214659-24-006444.hdr.sgml : 20240410
<ACCEPTANCE-DATETIME>20240409180542
ACCESSION NUMBER:		0001214659-24-006444
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240410
DATE AS OF CHANGE:		20240409
EFFECTIVENESS DATE:		20240410

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LOCKHEED MARTIN CORP
		CENTRAL INDEX KEY:			0000936468
		STANDARD INDUSTRIAL CLASSIFICATION:	GUIDED MISSILES & SPACE VEHICLES & PARTS [3760]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				521893632
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11437
		FILM NUMBER:		24833750

	BUSINESS ADDRESS:	
		STREET 1:		6801 ROCKLEDGE DR
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817
		BUSINESS PHONE:		3018976000

	MAIL ADDRESS:	
		STREET 1:		6801 ROCKLEDGE DRIVE
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AS YOU SOW
		CENTRAL INDEX KEY:			0001086462
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
		BUSINESS PHONE:		510-735-8155

	MAIL ADDRESS:	
		STREET 1:		2150 KITTREDGE ST.
		STREET 2:		SUITE 450
		CITY:			BERKELEY
		STATE:			CA
		ZIP:			94704
</SEC-HEADER>
<DOCUMENT>
<TYPE>PX14A6G
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<FILENAME>j49245px14a6g.htm
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    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 10%"><FONT STYLE="font-size: 8pt; color: #00813D">Main Post Office, P.O. Box 751&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="text-align: left; vertical-align: top; width: 80%; white-space: nowrap"><FONT STYLE="font-size: 8pt; color: #73C167"><B>www.asyousow.org</B></FONT></TD></TR>
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    <TD STYLE="white-space: nowrap"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D">Berkeley, CA 94704</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt; color: #00813D"> &nbsp;&nbsp;&nbsp;</FONT></P></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 7.5pt; color: #73C167">BUILDING A SAFE, JUST, AND SUSTAINABLE WORLD SINCE 1992</FONT></TD></TR>
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<P STYLE="margin: 0"><FONT STYLE="font-size: 11pt">Notice of Exempt Solicitation Pursuant to Rule 14a-103</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Name of the Registrant: Lockheed Martin Corp (LMT)<BR>
Name of persons relying on exemption:&nbsp;As You Sow&reg;<BR>
Address of persons relying on exemption: Main Post Office, P.O. Box 751, Berkeley, CA 94704</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Written materials are submitted pursuant to Rule 14a-6(g)(1) promulgated
under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under the terms of the Rule, but is made voluntarily
in the interest of public disclosure and consideration of these important issues.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt; background-color: #B8CCE4">&nbsp;</P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Lockheed Martin Corp (LMT)<BR>
Vote Yes: Item #5 &ndash; Requesting a Report on Reducing Full Value Chain GHG Emissions</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal">Annual Meeting:
May 2, 2024 </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONTACT: Diana Myers | dmyers@asyousow.org</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">THE RESOLUTION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>BE IT RESOLVED: </B> Shareholders request that the Board issue a
report, at reasonable expense and excluding confidential information, disclosing how Lockheed Martin intends to reduce its full value
chain emissions in alignment with the Paris Agreement&rsquo;s 1.5&deg;C goal.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SUPPORTING STATEMENT: </B>Proponents recommend, at Board discretion,
that reporting include:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>A timeline for setting 1.5&deg;C-aligned, near-term emission reduction targets;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>A timeline for setting long-term net zero goals;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>A climate transition plan to achieve emissions reduction goals across all relevant emission scopes; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Annual reporting demonstrating progress towards meeting emission reduction goals</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">SUMMARY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The Intergovernmental Panel on Climate Change has concluded that immediate
and significant emissions reductions are required of all market sectors to stave off the worst consequences of climate change.<SUP>1
</SUP>Investor demand for science-aligned emission reductions and transition planning reflects the reality that climate-related risk
exposure is growing.<SUP>2</SUP> Decarbonizing the aviation industry is a critical component of meeting global decarbonization goals
according to the International Energy Agency.<SUP>3</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> https://www.ipcc.ch/report/ar6/syr/downloads/report/IPCC_AR6_SYR_FullVolume.pdf,
p.20</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2</SUP> https://www.weforum.org/agenda/2023/10/climate-loss-and-damage-cost-16-million-per-hour/;
https://corpgov.law.harvard.edu/2023/01/30/eu-finalizes-esg-reporting-rules-with-international-impacts/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> https://iea.blob.core.windows.net/assets/13dab083-08c3-4dfd-a887-42a3ebe533bc/NetZeroRoadmap_AGlobalPathwaytoKeepthe1.5CGoalinReach-2023Update.pdf,
p.88</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
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</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin and its customers face a host of climate-related regulations
as the global economy decarbonizes, including carbon pricing on emissions-intensive products. As a result, customer demand for lower-emissions
technologies is growing. The U.S. Department of Defense, the EU, and NATO acknowledge that climate change is a threat multiplier and that
reducing dependence on fossil fuels is a critical military advantage.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In response, aerospace and industrial companies are taking action
and spurring investment toward decarbonization. Lockheed Martin risks falling behind peers such as Honeywell, Airbus, Safran, and Saab
which are establishing emission reduction targets through the Science Based Targets initiative (SBTi). SBTi includes relevant value chain
emissions.<SUP>4</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While Lockheed Martin has set an emissions reduction target for its
operations, this goal covers only 2% of the Company&rsquo;s total emissions.<SUP>5</SUP> Lockheed Martin has yet to disclose how it plans
to reduce emissions for its value chain, representing 98% of the Company&rsquo;s overall emissions. By reporting how it plans to reduce
its full value-chain emissions, Lockheed Martin can better prepare itself for rising demand and mitigate climate risk across its business.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By issuing a report on how it intends to reduce emission across its
full value chain, Lockheed Martin can better meet its customer needs, minimize transition costs, improve its competitiveness against peers,
and position itself to maximize climate-related opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">RATIONALE FOR A
YES VOTE</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Lockheed Martin faces climate-related competitive, operational, and transition risks that will materially impact its business.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Lockheed Martin does not disclose a plan to reduce its full value chain emissions in alignment with the Paris Agreement's 1.5&deg;C
degree goal requiring Net Zero emissions by 2050.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Lockheed Martin lags peers in addressing the impacts of its emissions. </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">DISCUSSION</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD><B>Lockheed Martin faces climate-related competitive, operational, and transition risks that will materially impact its business.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I><U>Customer Expectations</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin&rsquo;s major customers are making significant decarbonization
commitments and increasing requirements for lower-emission technologies, products, and services to help them meet their targets. Lockheed
Martin&rsquo;s ability to anticipate and develop products and services that meet these demands is a key value driver.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>4</SUP> https://sciencebasedtargets.org/companies-taking-action</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>5</SUP> https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/sustainability/2023-cdp-climate-change-response.pdf,
p.29</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In 2023, 73% of Lockheed Martin&rsquo;s net sales were to the U.S.
government, specifically the Department of Defense; an additional 26% of net sales were to international customers and foreign military
sales through the U.S. government.<SUP>6</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The future of aerospace and defense requires reducing dependence on
fossil fuels. Senior Pentagon officials underscored the U.S. Defense Department&rsquo;s view that &ldquo;climate readiness is mission
readiness,&rdquo; and that climate change can impact military training, mission execution, and national security.<SUP>7</SUP> NATO notes
that more sustainable energy choices can result in &ldquo;more autonomy, a lesser logistical burden and a smaller environmental footprint.&rdquo;<SUP>8
</SUP>Lockheed Martin acknowledges in its CDP Report that its ability to provide competitive, low-carbon solutions will determine its
ability to secure future contracts.<SUP>9</SUP> Lockheed Martin&rsquo;s customers are taking action to transition to a low-carbon future:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The U.S. Department
                                            of Defense has elevated climate change as a national security priority, with all major branches
                                            developing climate action plans to reduce and mitigate emissions impacts.<SUP>10</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The EU has adopted
                                            the Climate Change and Defence Roadmap, acknowledging the need to consider climate change
                                            in the overall EU security context and align with the goals of the European Green Deal.&rdquo;<SUP>11</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>NATO has issued a
                                            Climate Change and Security Action Plan identifying climate change as a threat multiplier
                                            that can impact militaries&rsquo; critical infrastructure and capabilities. <SUP>12
                                            </SUP>NATO is implementing initiatives to mitigate climate change by reducing the consumption
                                            of fossil fuels.<SUP>13</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By issuing a report on how it plans to reduce its value chain emissions,
Lockheed Martin can align with customer demands for low-carbon military capabilities. Setting targets across all three emissions Scopes
will help Lockheed Martin better prepare for a wider range of potentially disruptive challenges, position it to exploit transition-related
opportunities, and grow its market share.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>6</SUP> https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/936468/000093646824000010/lmt-20231231.htm#i4dd86b83b2af4001a0e0d2126a63bade_19,
p.29</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>7</SUP> https://www.defense.gov/News/News-Stories/Article/Article/3614103/dod-officials-highlight-climate-and-energy-security-issues-at-international-con/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>8</SUP> https://www.nato.int/cps/en/natohq/topics_49208.htm</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>9</SUP> https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/sustainability/2023-cdp-climate-change-response.pdf,
p.9</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>10</SUP> https://www.washingtonpost.com/climate-solutions/2022/02/10/army-military-green-climate-strategy/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>11</SUP> https://joint-research-centre.ec.europa.eu/jrc-news-and-updates/climate-change-and-eu-defence-released-new-report-analysing-links-between-climate-energy-and-defence-2023-06-08_en</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>12</SUP> https://www.nato.int/cps/en/natohq/official_texts_185174.htm</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>13</SUP> https://www.nato.int/cps/en/natohq/topics_49208.htm</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Furthermore, the U.S. government is undertaking efforts to reduce
emissions associated with its procurement process.<SUP>14</SUP> In 2021, the U.S. government launched a Buy Clean Task Force charged
with considering embodied emissions in federal procurement and federally funded projects. <SUP>15,16 </SUP><FONT STYLE="color: #0D0D0D; background-color: white">While
initially concentrating on construction materials, the scope may broaden to include other emissions-intensive materials and products
to meet emission reduction objectives. </FONT>The federal government is considering two additional procurement rules that could impact
Lockheed Martin and its customers:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Federal Supplier
                                            Climate Risks and Resilience Rule would require large federal contractors to disclose Scope
                                            1, 2, and 3 emissions and set science-based emissions reduction targets.<SUP>17</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The Sustainable Products
                                            and Services procurement rule would set requirements for federal buyers to prioritize sustainable
                                            products and services.<SUP>18</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Similarly, the UK government, which Lockheed Martin considers a strategic
customer in its international operations, issued a procurement policy which requires that all UK-based suppliers must commit to achieving
net-zero emissions or be barred from consideration for contracts. In response, Lockheed Martin had to commit to decarbonizing its UK
assets.<SUP>19</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By aligning its own value chain with a 1.5&deg;C target, Lockheed Martin
can position itself to meet the evolving low-carbon demands of its customers and to compete in a decarbonizing policy and economic environment.
This will allow it to minimize risks and costs associated with the energy transition and take advantage of climate-related opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I><U>Transition Risks</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin and its customers will also be affected by an evolving
regulatory atmosphere as the global drive to decarbonize high-emitting sectors like aviation gains momentum. Lockheed Martin&rsquo;s lack
of transparency as to how it intends to address its value-chain emissions, if at all, makes it difficult for investors to understand whether
Lockheed Martin is well-positioned to meet the requirements of upcoming regulation, or if it is likely to be caught flat-footed and incur
unnecessary costs or miss important opportunities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin acknowledges that scarcity and carbon pricing is expected
to drive up the costs of materials globally.<SUP>20</SUP> Lockheed Martin is subject to multiple carbon pricing jurisdictions, impacting
both its direct operating costs and those associated with its upstream materials. Recently, the UK announced a new net zero-consistent
cap for its Emission Trading Scheme, reducing the number of available allowances.<SUP>21</SUP> The EU also adopted new rule tightening
its Emissions Trading System by phasing out free allowances <FONT STYLE="background-color: white">and adopting a carbon tariff on certain
imports with high embedded carbon.<SUP>22</SUP> </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">While Lockheed Martin does estimate
the aggregate cost of carbon pricing on its operations,</FONT> i<FONT STYLE="background-color: white">nvestors are unclear if Lockheed
Martins&rsquo;s approach is overlooking opportunities to invest in strategies which could lead to lower regulatory costs, improved customer
satisfaction, and related benefit to investors.</FONT><SUP>23</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>&nbsp;</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>14</SUP> https://www.sustainability.gov/federalsustainabilityplan/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>15</SUP> https://www.epa.gov/greenerproducts/what-embodied-carbon</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>16</SUP> https://www.sustainability.gov/buyclean/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>17</SUP> https://www.sustainability.gov/federalsustainabilityplan/fed-supplier-rule.html</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>18</SUP> https://www.esgtoday.com/biden-administration-announces-new-sustainable-procurement-rules-for-federal-government/#:~:text=The%20new%20proposed%20rule%20would%20update%20the</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0">%20government%E2%80%99s,or%20can%20be%20acquired%20at%20a%20reasonable%20price.</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>19</SUP> https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/sustainability/2023-cdp-climate-change-response.pdf,
p.9</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>20</SUP> https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/sustainability/2023/TCFD-aligned-climate-related-risks-opportunities-report-2022.pdf,
p.7</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>21</SUP> https://www.gov.uk/government/publications/uk-emissions-trading-scheme-markets/uk-emissions-trading-scheme-markets</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>22</SUP> https://ec.europa.eu/commission/presscorner/detail/en/ip_22_7609;
https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)698889</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>23</SUP> https://www.lockheedmartin.com/content/dam/lockheed-martin/eo/documents/sustainability/2023/TCFD-aligned-climate-related-risks-opportunities-report-2022.pdf</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">By disclosing a report on how Lockheed Martin intends to reduce its
full value chain emissions, the Company will provide investors with critical information about how the Company intends to mitigate transition
costs associated with emerging regulation and demonstrate how it will compete in a low-carbon regulatory environment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I><U>Investor Expectations</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin is ranked as one of the largest corporate emitters
by CA100+, a global investor initiative with $54 trillion AUM, which issued a Net Zero Company Benchmark (the Benchmark) with the goal
of securing robust net zero reduction strategies and greater disclosure of climate change risks. <SUP>24</SUP>
Lockheed Martin has yet to fully meet any of the Benchmark&rsquo;s criteria that signal Paris-alignment. <SUP>25</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">This Proposal requests that Lockheed disclose a plan to reduce its
full value chain emissions in alignment with the Paris Agreement&rsquo;s 1.5&deg;C goal, one of the key criteria of the Benchmark. Other
elements of the Benchmark that Lockheed fails to meet include a net zero ambition across all Scopes of emissions and capital allocation
aligned with the Paris Agreement&rsquo;s objectives.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin&rsquo;s failure to make such disclosures means that
investors lack critical information and indicators of the state of Lockheed Martin&rsquo;s emission reduction strategy and its mitigation
of climate risk across its value chain. As a consequence, investors concerned about the lack of responsiveness of Lockheed Martin to the
risks associated with climate change, including competitive risks, may direct capital investments to companies that investors perceive
as better positioning themselves for a low carbon economy.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white"><I><U>Physical Risks</U></I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Climate change is disrupting
supply chains and making materials more expensive, posing </FONT>continued <FONT STYLE="background-color: white">risk to Lockheed Martin&rsquo;s
operations and critical inputs,</FONT> such as semiconductors.<SUP>26</SUP> For example, extreme weather in Malaysia and Texas forced
major semiconductor plants and ports to close, exacerbating semiconductor shortages and further slowing production of micro-chip dependent
products.<SUP>27</SUP> <FONT STYLE="background-color: white">Economic impacts from the physical effects of climate change are expected
to increase in the future.<SUP>28</SUP> By addressing growing supply chain risks and its own climate contributions, Lockheed Martin can
reduce its long-term risk exposure and increase its risk-adjusted profitability. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>Lockheed Martin does not disclose a plan or goal to reduce its full value chain emissions in alignment with the Paris Agreement's
1.5&deg;C degree goal requiring Net Zero emissions by 2050. </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Despite more than 35% of shareholders supporting last year&rsquo;s
proposal on this topic, the Company has not addressed its concerns.<SUP>29</SUP> Although Lockheed Martin acknowledges the multiple effects
of climate change on its operations, costs, and competitiveness, it has not disclosed how it intends to align its full value chain with
the Paris Agreement&rsquo;s 1.5&deg;C goal, thereby mitigating direct and systemic risk to its operations and competitive capabilities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>24</SUP> https://www.climateaction100.org/whos-involved/investors/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>25</SUP> https://www.climateaction100.org/company/lockheed-martin-corporation/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>26</SUP> https://www.scientificamerican.com/article/climate-change-is-exacerbating-inflation-worldwide/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>27</SUP> https://e360.yale.edu/features/how-climate-change-is-disrupting-the-global-supply-chain</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>28</SUP> https://www.scientificamerican.com/article/climate-change-is-exacerbating-inflation-worldwide/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>29</SUP> https://www.asyousow.org/press-releases/2023/5/3/shareholders-support-climate-transition-plans-defense-contractors</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While Lockheed Martin has taken important actions to accelerate its
Scope 1 and 2 emission reduction targets, this goal covers only <B>2%</B> of Lockheed Martin&rsquo;s total emissions. Lockheed Martin
fails to communicate how it intends to reduce its value chain emissions which contribute 98% of Lockheed Martin&rsquo;s total emissions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin states that it is addressing its value chain emissions
through continuing to research and develop propulsion enhancements and alternative technologies, as well as educating suppliers and collaborating
with industry groups and the U.S. DOD to discuss shared challenges..<SUP>30</SUP> While these actions are commendable, Lockheed Martin
fails to communicate what the anticipated emission reductions associated with these actions are, along what timeline, and whether they
are sufficient to meet the Paris Agreement&rsquo;s 1.5&deg;C goal, emerging regulations, and customer expectations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">While Lockheed Martin does have a goal to annually increase carbon
removal technology adoption, with investment and support guaranteed through 2025, it is unclear if Lockheed Martin&rsquo;s investment
criteria are aligned with the Paris Agreement&rsquo;s 1.5&deg;C goal. .<SUP>31</SUP> I<FONT STYLE="background-color: white">nvestors
are concerned that Lockheed Martin&rsquo;s approach is favoring offsetting and overlooking opportunities to invest in strategies which
could lead to</FONT> internal emission reductions. Experts including SBTi and the UN High-Level Expert Group stress that offsets from
nature-based and technology-based projects are not a substitute for internal emission reductions and should only be used to address residual
(around 10%) emissions.<SUP>32</SUP></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Overall, Lockheed Martin&rsquo;s Sustainability Management Plan and
related disclosures lack clarity on how it plans to align all relevant portions of its value chain with the Paris Agreement&rsquo;s 1.5&deg;C
goal to meet evolving regulations and customer demands.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD><B>Lockheed Martin lags peers in addressing the impacts of its emissions. </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Multiple peers and competitors are establishing strategies and targets
to reduce the emissions associated with their value chains, including emissions from the use of their products. As described above, companies
in the aerospace and defense market that set emissions reduction goals across their full value chains may be better prepared to meet customer
needs and operate in a transitioning regulatory and economic environment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Each of the peers listed below have set Paris-aligned targets through
adoption of SBTi targets and disclose plans to reduce the emissions associated with their value-chain:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Honeywell, an aerospace
                                            and defense peer and DOD contractor specializing in aerospace products and services, committed
                                            through SBTi to reduce its absolute Scope 3 emissions 23% by 2037. It also committed to leverage
                                            60% of its research and development towards ESG-oriented solutions and invest $50 million
                                            per year in projects and initiatives that will help it achieve its emissions reduction goals.<SUP>33</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>30</SUP> https://sustainability.lockheedmartin.com/sustainability/beyond-the-smp/carbon-strategy-and-climate-related-risk/</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>31</SUP>https://sustainability.lockheedmartin.com/sustainability/content/Lockheed_Martin_2022_Sustainability_Performance_Report.pdf,
p.13</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>32</SUP> https://sciencebasedtargets.org/resources/files/Net-Zero-Standard.pdf,
p.23; https://www.un.org/sites/un2.un.org/files/high-level_expert_group_n7b.pdf, p.19</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>33</SUP> https://www.honeywell.com/content/dam/honeywellbt/en/documents/downloads/hon-esg-report.pdf</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Airbus, an aerospace
                                            and defense peer and DOD contractor specializing in aircraft manufacturing, commits through
                                            SBTi to reduce its Scope 3 emissions intensity from the use of sold products 46% by 2035.
                                            It also has a mandatory carbon impact evaluation for each new CapEx investment and has a
                                            dedicated budget allowing longer return on investment criteria for energy efficiency projects.<SUP>34</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Safran, an aerospace
                                            and defense peer and DOD contractor specializing in aircraft engine and propulsion systems
                                            manufacturing, committed through SBTi to reduce its Scope 3 emissions intensity from the
                                            use of sold products 42.5% by 2035. Safran plans to achieve this goal by using an internal
                                            carbon price and dedicating 75% of R&amp;T spending on technologies aimed at reducing the
                                            environmental impact of air transport.<SUP>35</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Saab AB, an aerospace
                                            and defense peer and DOD contractor specializing in fighter and military aircraft, commits
                                            through SBTi to reduce its Scope 3 emissions covering upstream transportation and distribution,
                                            business travel and use of sold products 25% by 2030.<SUP>36</SUP></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Excluding value chain emissions from Lockheed Martin&rsquo;s reduction
plans puts it behind global peers, and as a result Lockheed Martin risks losing market share if competitors are better able to meet customers
and investor needs.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; background-color: #B8CCE4">RESPONSE TO LOCKHEED
MARTIN CORPORATION BOARD OF DIRECTORS&rsquo; STATEMENT IN OPPOSITION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">In Lockheed Martin&rsquo;s opposition statement, the Board states that
it cannot support the Proposal for several reasons. As detailed below, the Company&rsquo;s existing actions are inadequate, and its responses
do not persuasively support rejecting the Proposal.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>&ldquo;The proposal does not take into account the unique challenges the Company faces&hellip;The U.S. government and its allies,
not our Company, decide how and when to use products they purchase from us, which may be classified.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As discussed above, government clients are expressing a growing need
for low-carbon products to address evolving climate-related security challenges and fulfill their emission reduction commitments. Recognizing
climate change as a significant threat amplifier, the U.S. Department of Defense, the EU, and NATO emphasize that climate change is a
threat multiplier and that reducing dependence on fossil fuels is a critical military advantage.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin possesses a substantial understanding of its products'
emission profiles, and while the U.S. government and its allies decide how and when to use the products they purchase from Lockheed Martin,
it is within the Company&rsquo;s control to design or enhance products to be more resource and carbon efficient, thus meeting customer
needs and decarbonizing in the process.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Developing a comprehensive plan to reduce emissions throughout its
value chain would enhance Lockheed Martin's competitiveness and align with customer demands.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>34</SUP> https://www.airbus.com/sites/g/files/jlcbta136/files/2023-01/Airbus%20SE%202022%20CDP%20Climate%20Change%20Questionnaire.pdf</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>35</SUP> https://www.safran-group.com/group/commitments/decarbonizing-aeronautics</P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>36</SUP> https://www.saab.com/globalassets/corporate/investor-relations/pdf/saab-annual-and-sustainability-report-2023.pdf</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
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</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>&ldquo;We are unaware of any U.S.-based prime defense contractors that have set Net Zero Scope 3 reduction targets&hellip;False
comparison between defense contractors and sectors outside of defense.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">It is important to evaluate Lockheed Martin&rsquo;s strategies against
those of its domestic and global counterparts. Honeywell, a fellow prime defense contractor in the aerospace and defense industry, has
committed to reducing its sold product emissions, a trend mirrored by international competitors Airbus, Safran, and Saab. The peers discussed
in this proxy all have defense segments and contracts with the U.S. DOD. To stay competitive, Lockheed Martin must be mindful of this
global landscape. By enhancing its capacity to deliver low-carbon solutions, Lockheed Martin can position itself ahead of competitors
and strengthen its market advantage.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>&ldquo;As the proposal specifically requests Scope 3 emissions disclosures and annual reports demonstrating progress towards meeting
emissions reduction goals, these elements of the proposal are duplicative and unnecessary.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">As discussed above, current disclosures have large gaps that leave
investors uninformed. Lockheed Martin lacks a plan to reduce its value chain emissions, which contribute 98% of Lockheed Martin&rsquo;s
total emissions. Although Lockheed Martin acknowledges the multiple effects of climate change on its operations, costs, and competitiveness,
it has not aligned all material elements of its value chain to mitigate systemic and direct risks to its operations and competitive capabilities.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, while Lockheed Martin describes some actions and initiatives
it is taking to address Scope 3 emissions, it fails to communicate to investors the anticipated emission reductions associated with these
actions and whether they are adequate to meet emerging regulatory and customer expectations. Its failure to make such disclosures means
that investors lack critical information and indicators of the state of Lockheed Martin&rsquo;s emission reduction strategy and its mitigation
of climate risk across its value chain.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>Setting long-term quantitative targets would increase risk and cost to our Company because the targets would be wholly detached
from our robust and sound business planning processes.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin's climate targets were established during planning
cycles overseen by its sustainability governance. However, these current targets do not include <B>98%</B> of the Company&rsquo;s emissions.
Climate targets should be fully integrated with Lockheed Martin&rsquo;s robust and sound business planning processes, ensuring customer
and investors evolving needs are met, and that the Company is sufficiently addressing the substantive impact that the low-carbon transition
will have on its business.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>&ldquo;Further, the proposal is nearly identical to a proposal the same proponent representative submitted last year, which nearly
two-thirds of our stockholders voted against.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">This response is one of framing but not of substance. Lockheed Martin
has not addressed the concerns of <B>a third of its investors</B>. The proposal from last year highlighted investor support for Lockheed
Martin's efforts to tackle its major emission sources. However, Lockheed Martin's ongoing research projects and test flights fall short
of constituting a comprehensive strategy for reducing emissions across its value chain that one-third of shareholders seek. While Lockheed
Martin has updated its Task Force on Climate-related Financial Disclosures and enhanced its targets for Scope 1 and 2 emissions, these
actions did not encompass its value chain emissions, thus failing to fulfill the proposal's request.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="white-space: nowrap; width: 10%"><IMG SRC="asyousowlogo.jpg" ALT=""><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD STYLE="white-space: nowrap; width: 90%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 9pt; color: rgb(0,129,61)"><B>2024
Proxy Memo</B></FONT></P>
                                                <P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; color: #00813B"><FONT STYLE="font-size: 10pt; color: #00813D"><B></B></FONT><FONT STYLE="font-size: 10pt; font-weight: normal">Lockheed Martin Corp | Requesting a Report on Reducing
Full Value Chain GHG Emissions</FONT></P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>&ldquo;Furthermore, the proposal would seek to supplant the business judgment of the Board of Directors and management which is
keenly focused on all current and emerging risks facing the Company, including climate related risks.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">The proposal does not dictate or supplant the Company&rsquo;s operational
management, rather it is highlighting gaps that hinder investors from making informed decisions about Lockheed Martin&rsquo;s position
in a transitioning economy. It is critical to investors that companies align with 1.5<SUP>o</SUP>C ambitions throughout their value chains.
This alignment is essential not only to meet customer demands but also to navigate transition risks and extreme weather disruptions. Reporting
on how Lockheed Martin intends to reduce its material value chain emissions is considered a best practice and serves as an effective means
of communicating with investors.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Lockheed Martin&rsquo;s current reporting falls short of adequately
communicating how its ongoing efforts will deliver the emission reductions necessary to ensure long-term success in meeting customer needs
and addressing climate-related challenges. Therefore, Lockheed Martin&rsquo;s opposition is insufficient. Comprehensively addressing the
Company&rsquo;s value-chain emissions is in the best interests of shareholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 13pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; background-color: #B8CCE4">CONCLUSION</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Lockheed Martin&rsquo;s failure to set emission reduction targets
that cover its material value-chain emissions demonstrates a lack of adherence to its stakeholder&rsquo;s clear expectations and exposes
Lockheed Martin to serious market and competitive risks. Vote &ldquo;Yes&rdquo; on this Shareholder Proposal 5.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>--</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>For questions, please contact Diana Myers, As You Sow, </I><I>dmyers@asyousow.org</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">THE FOREGOING INFORMATION MAY BE DISSEMINATED TO SHAREHOLDERS VIA TELEPHONE,
U.S. MAIL, E-MAIL, CERTAIN WEBSITES AND CERTAIN SOCIAL MEDIA VENUES, AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE OR AS A SOLICITATION
OF AUTHORITY TO VOTE YOUR PROXY. THE COST OF DISSEMINATING THE FOREGOING INFORMATION TO SHAREHOLDERS IS BEING BORNE ENTIRELY BY ONE OR
MORE OF THE CO-FILERS. PROXY CARDS WILL NOT BE ACCEPTED BY ANY CO-FILER. PLEASE DO NOT SEND YOUR PROXY TO ANY CO-FILER. TO VOTE YOUR PROXY,
PLEASE FOLLOW THE INSTRUCTIONS ON YOUR PROXY CARD<I>.</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0">9</P>

<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
