Amentum Awarded $490M Contract to Modernize U.S. Navy's Multi-Engine Training Aircraft Fleet

The U.S. Navy awarded Amentum (NYSE:AMTM) a $490 million contract to deliver comprehensive contractor logistics support (CLS) of the state-of-the-art T-54A Multi Engine Training System (METS). This innovative system will supersede the aging T-44C aircraft, as Amentum collaborates with the Navy and Textron, the original equipment manufacturer, to modernize the Navy's training aircraft fleet.

Amentum's expert fleet management support to the METS program strategically positions the U.S. Navy's pilot training for unparalleled success. By offering its services to the Chief of Naval Air Training (CNATRA) for the cutting-edge multi-engine platform, Amentum will be instrumental in shaping the future of naval aviation. The METS program will seamlessly enable future Navy, Marine Corps, Coast Guard, and select U.S. allied pilots to transition into advanced multi-engine and tilt-rotor fleet aircraft such as the V-22 Osprey, E-2D Hawkeye, C-130 Hercules, and P-8 Poseidon ensuring operational readiness through 2055.

"Amentum's extensive experience delivering comprehensive fleet management—encompassing modifications and engineering to sustainment and logistics—makes us the premier partner for modernizing the Navy's training aircraft fleet," said Dr. Karl Spinnenweber, President of the Mission Solutions Group. "Our team, understanding the critical nature of our mission, excels in the accelerated pilot training environment and is fully committed to providing ready-to-train aircraft every single day."

Amentum's dynamic, highly skilled workforce consistently delivers ready-for-production (RFP) aircraft for daily training missions, ensuring excellence through both scheduled or un-scheduled maintenance and modifications in a highly demanding student training environment. These aircraft systems provide the foundation for advanced fleet aircraft training syllabi. Amentum delivers critical training on full system maintenance, service, and repair of avionics, airframes, and power plants, as well as overhaul of aircraft engines, propellers, and avionics components, enabling continuous flight operations.

"Our partnership with the U.S. Navy and CNATRA strengthens as Amentum delivers innovative engineering, modification, and sustainment solutions to maximize aircraft availability for naval aviator training," said Joe Kelly, Senior Vice President for Sustainment and Analytics.

The task order transition phase in began June 1, 2024, and full performance started Sept. 1 under the CMMARS Indefinite Delivery/Indefinite Quantity Multiple Award Contract. It has a one-year base period and four additional one-year option periods and is contracted through Naval Air Systems Command (NAVAIR). Operations will be conducted at Naval Air Station Corpus Christi, Texas supporting the phase-out and divestiture of all T-44C aircraft and the introduction of all T-54A fleet over the next three years.

About Amentum

Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security, and sustainability. Our people apply undaunted curiosity, relentless ambition, and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, inclusion, and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents.

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Forward-Looking Statements

This press release contains or incorporates by reference statements that relate to future events and expectations and, as such, constitute forward-looking statements under the securities laws, including statements regarding the Reverse Morris Trust transaction (the "transaction"), as described in the information statement filed as Exhibit 99.1 to the Current Report on Form 8-K of Amentum Holdings, Inc. (the "Company") filed with the Securities and Exchange Commission (the "SEC") on September 18, 2024 (the "information statement"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the anticipated work and revenue under the awarded contract, the expected benefits of the transaction, including future financial and operating results and strategic benefits, the tax consequences of the transaction, and the Company's objectives, expectations and intentions, applicable legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements.

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