2019 Proxy Statement

28 TEXTRON 2019 PROXY STATEMENT PERFORMANCE ANALYSIS Which Companies Does the Committee Use to Compare Our Performance? The table below shows the list of performance peer group companies checkmarks in the columns under Textron’s manufacturing segments mean that the peer company competes in some way, or operates in similar industries, with that segment. The foregoing performance peer group reÀects changes made to the 2017 performance peer group, which was reported in last year’s proxy statement. The changes made were the removal of Rockwell Collins, Inc., because it was acquired in late 201 , the removal of Spirit AeroSystems Holdings, Inc., and the addition of Parker Hanni¿n Corporation and Lear Corporation, which operate in industries in which one or more of our segments operate, as indicated above. The 201 performance peer group will be used to measure relative TSR performance for the 201 2020 PSU awards granted to NEOs in 201 . 2018 Performance Peer Group The Boeing Company $9 . United Technologies Corporation 59. Lockheed Martin Corporation 51.0 Honeywell International Inc. 0.5 General Dynamics Corporation 1.0 Deere & Company 29.7 Northrop Grumman Corporation 25. Raytheon Company 25. Lear Corporation 20.5 Eaton Corporation Plc 20. Ingersoll Rand Plc 1 .2 Parker Hanni¿n Corporation 12.0 Borg:arner Inc. 9. L Technologies, Inc. 9.6 Harris Corporation 5.9 Textron Inc. 14.2 Company Name 2017 Revenue ($ in billions) Aviation Bell Industrial Systems