Amentum (AMTM) 47th Annual Raymond James Institutional Investor Conference summary

Company overview and market positioning

• Operates as a $14 billion diversified services provider with 50,000 employees globally, serving both government and commercial clients, with 80% of business tied to the U.S. government and significant presence in the U.K. and Australia.

• Core growth markets include defense and intelligence, with long-term contracts averaging seven to eight years, blending engineering and technology services.

• Accelerating growth markets, representing $4 billion of business, focus on digital infrastructure, space systems, and global nuclear energy, with high single-digit growth and double-digit margins.

• Strategic priorities include leveraging AI, expanding space capabilities, and supporting nuclear power development to meet rising electricity demand.

Nuclear energy and infrastructure

• Nuclear energy accounts for about 20% of the portfolio, with leadership in both new builds and life extension projects, especially in the U.K. and expanding in the U.S.

• U.S. government and industry are prioritizing nuclear for clean, reliable electricity, with significant demand for small modular reactors and gigawatt-scale plants.

• Executive orders and policy support aim for 10 new gigawatt plants by 2030, with partnerships involving major industry players.

• Life extension of existing U.S. nuclear plants presents up to 100 potential projects, each extending plant life by 10–20 years.

Space and defense growth vectors

• Leading engineering support for NASA and U.S. government space initiatives, including a $4 billion, 10-year Space Force Range contract.

• Anticipates launch cadence to grow from 100 to 300–500 launches annually, driven by military and intelligence needs.

• Key role in missile defense, supporting the Golden Dome program and developing technology to detect and intercept hypersonic missiles.

• Expects RFPs for Golden Dome work to be released in the second half of FY 2026 as program architecture is finalized.

• Deep space initiatives include supporting AI data centers, medical research, and human capacity for space habitation, with ongoing leadership in NASA’s Artemis program.