Our commitment to future generations.

corporateresponsibilityreport

Raytheon Company870 Winter Street Waltham, Massachusetts02451-1449 USA 781.522.3000

www.raytheon.com

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2 Vision,Strategy,GoalsandValues4 Governance6 Ethics8 Engineering,TechnologyandMissionAssurance10 Diversity12 SafetyandWellness16 Sustainability2o SupportingourCommunities24 AwardHighlights

CONTENTS

We invite you to visit our website to learn more about

Raytheon’s ongoing sustainability initiatives and discover

how our best practices are making an impact.

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AWARDS AND RECOGNITION CONFIRMING OUR ACHIEVEMENTS IN CITIZENSHIP

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Raytheon’s2009CorporateResponsibilityReportgarneredtophonorsfromtheCommunitasAwards.Theawardsareaninterna-tionalefforttorecognizeexceptional

organizationsthatarechanginghowtheydobusinesstobenefittheiremployees,communitiesandtheenvironment.TheLeadershipinCorporateSocialResponsibilityAwardrecognizesRaytheon’sethicalandsustainablebusinesspracticesandcommitmenttothecommunity.

RaytheonreceivedtheU.S.Envi-ronmentalProtectionAgency’s2011ENERGYSTARSustainedExcellence

Award,thehighesthonorgiventoENERGYSTARpartners.ThisisthefourthconsecutiveyearRaytheonhasreceivedtheSustainedExcellenceAwardandtheseventhtimein11yearsthecompanyhasbeenrecognizedundertheprogram.

TheAerospaceIndustriesAssociationrecognizedRaytheonwitha2010WorkerSafetyExcellenceAwardintheAerospaceComponentscategory.

Winnerswereselectedbasedontheirinjuryratesin2009andthestrengthoftheirsafetyprograms.ThisistheseventhtimeRaytheonhaswonaSafetyExcellenceAwardfromtheassociation.

ThereadersofCareers&thedisABLED,MinorityEngineerandEqualOppor-tunityMagazinesonceagainhonoredRaytheonforitscommitmenttorecruit-ing,hiringandpromotingapositivework

environmentfortheirrespectiveaudiences.

RaytheonU.K.wasawardedtheRoyalSocietyforthePreventionofAccidents(RoSPA)GoldMedal.Theawardrecognizesthematurityandeffectivenessofthecompany’shealthandsafety

managementsystemsandalsotakesintoaccountinjuryrateandenforcementexperiences.

ChairmanandCEOWilliamH.SwansonwashonoredbytheAmericanAustralianAssociation

forhiscontributionstotheU.S.-Australiarelationship.SwansonacceptedtheawardonbehalfofRaytheonemployeesworldwide.TheAmericanAustralianAssocia-tionisanonprofitorganizationdevotedtostrengtheningrelationsbetweentheUnitedStatesandAustralia.

RaytheonwasselectedbyInfoWorldforitsGreen15Awards.ThisisthesecondconsecutiveyearRaytheonreceivedthisgreenITindustryaward.Theawardsrecognizethe15mostinnovativeITinitiativesthatfallunder

theumbrellaofsustainability.TheawardmarksaseriesofrecognitionsforRaytheon’sinnovativegreenITinitiatives.

RaytheonwashonoredonceagainbytheNationalBusinessGrouponHealthwithaBestEmployersforHealthyLifestylesSilverAward,recognizingcompanywideeffortstohelpemployeesandtheirfamiliesmakebetterchoices

abouttheirhealthandwell-being.

Forthesixthconsecutiveyear,Raytheonhasachievedascoreof100%ontheHumanRightsCampaign®CorporateEqualityIndex,recognizingachievementsofthe

companyincreatinganinclusiveandopenenvironmentforallemployees.

Bersin&AssociatesrecognizedRaytheonasa2011LearningLeader®foritsindustry-leadingtalentdevelopmentprograms.Thisawardrecognizescompaniesthatdemonstrateeffectiveapproachesto

employeedevelopmentandlearningresultinginorganizationalimprovement.

2010

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In 2010, Raytheon continued to strengthen and broaden its commitment to corporate responsibility.

We have long had a focus in this area, and our gains have been measurable and meaningful. That is why I am proud to present this 2010 Raytheon Corporate Responsibility Report as a record of our activities and progress.

The following pages highlight our recent efforts, which benefit a wide range of stakeholders, including our shareholders, customers, employees, communities and future generations.

For our shareholders, Raytheon is committed to being a leader in corporate governance with a consistent focus on independent board oversight, accountability, transpar-ency and communication. To maintain our leadership, the Raytheon Board adopted a number of new policies and processes.

Good governance requires a culture of integrity. Raytheon’s comprehensive ethics program continues to emphasize the highest standards and reinforces ethical behaviors with all of our stakeholders. Our progress is borne out by the increased favorability in our Employee Opinion Survey results concerning ethics.

For our customers, Raytheon pushes the boundaries of technology to create solutions that meet their needs and fulfill our mission of customer success. To do that, we leverage the depth and breadth of Raytheon’s portfo-lio of innovative technologies, products, systems and capabilities. These include solutions that provided vital space imaging for the Icelandic volcano and Gulf of Mexico oil spill in 2010.

In the area of diversity, Raytheon is con-tinuing to move from awareness to action, with an emphasis on diversity of talent and thought, and supporting an inclusive culture. We also stress supplier diversity, and in 2010, 38 percent of our procurements were awarded to small businesses.

For our employees, we strive to provide a safe and secure workplace through our safety and wellness programs. We are making significant progress, and since 1999, we have reduced our Occupational Safety and Health Administration

recordable injury rate by 65 percent and our lost workday injury rate by 52 percent.

In our communities, Raytheon is committed to sustain-ability by conserving energy, recycling, eliminating waste, reducing greenhouse gas emissions and developing environmental solutions. For example, since 1998, Raytheon has reduced its hazardous waste generation by 90 percent, normalized for revenue.

We are also strong supporters of math and science education in our communities to inspire students toward rewarding science, technology, engineering and math careers. Our signature MathMovesU® initiative continued to grow in 2010 with new programs and sponsorships launched during the year.

Raytheon’s loyalty to our servicemen and women is deep and lasting. In 2010, we partnered with the Wounded Warrior Project to help those who have given so much to successfully re-enter the workforce with new IT and cybersecurity skills.

None of Raytheon’s corporate responsibility efforts would be possible without the strong support of our Board, our leadership and our 72,000 employees. We all rally around Raytheon’s Vision, Strategy, Goals and Values as our road map and guide to accomplish great things. With this alignment, the end results serve to benefit our stakeholders and are also the right business decisions.

We have accomplished much, but we cannot rest on our laurels. As we have made and reaffirmed our many

commitments, we have learned that corporate responsibility is a continuous journey, not a fixed destination. It is an area we need to keep working on and keep getting better at, since we need to make sure that future generations benefit from our actions.

As always, a proud member of the Raytheon team,

William H. Swanson Chairman and Chief Executive Officer

DEAR RAYTHEON STAKEHOLDERS,

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Raytheon’s Vision, Strategy, Goals and Values (VSGVs) are the foundation of the company. They serve as our road map for direction and the benchmarks by which we measure our performance. Our VSGVs focus and unify Raytheon’s 72,000 employees across six businesses and several geographies and markets that span the globe. They show us how we’re better together and are the essence of our One Company strength. Knowing and applying the VSGVs to our individual and group performance and our every day work is everyone’s responsibility.

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ProductivityImprove ROIC for Raytheon Company. Take Raytheon Six Sigma™ to the next level, further engaging custom-ers and partners. Deliver greater value and predictability through the Integrated Product Development System (IPDS), Earned Value Management System (EVMS) and Capability Maturity Model Integration (CMMI®).

Values

People– Treat people with respect and dignity.– Welcome diversity and diverse opinions.– Help our fellow employees improve their skills.– Recognize and reward accomplishment.– Foster teamwork and collaboration.

Integrity– Be honest, forthright and trustworthy.– Use straight talk; no hidden agendas.– Respect ethics, law and regulation.

Commitment– Honor commitments to customers, shareholders, the

community and each other.– Accept personal responsibility to meet commitments;

be accountable.

Excellence– Improve performance continually.– Achieve innovation in all that we do.– Stress quality, productivity, growth, best practices

and measurement.– Always strive to be the best.

Strategy

Focus on key strategic pursuits, Technology, and Mission Assurance, to sustain and grow our position in our four core defense markets:

– Sensing: Expand beyond traditional RF/EO to new growth focus areas, including multi-mission areas.

– Effects: Leverage kinetic energy-based expertise into EW, directed energy and cyber markets.

– C3I: Broaden market presence in communications, C2, networking and knowledge management.

– Mission Support: Expand beyond product support, engineering services and training.

Leverage our domain knowledge in all markets, including Homeland Security and Cybersecurity.

Expand international business by building on our rela-tionships and deep market expertise.

Continue to be a Customer Focused company based on performance, relationships and solutions.

Goals

CustomerBe regarded as a Customer Focused company.

GrowthGrow revenue faster than the market. Build on good performance in improving cash flow. Execute well and with predictability.

PeopleRetain and attract world-class talent while providing supe-rior opportunities for employee development. Treat all employees with respect. Leverage our diversity efforts as a competitive advantage, continuing Raytheon’s leadership in diversity.

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VISION, STRATEGY, GOALS AND VALUES ONE COMPANY. ONE VISION.

Vision: To be the most admired defense and aerospace systems company through our world-class people and technology.

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We are committed to being a leader in corporate governance. We believe that a commitment to good governance enhances stockholder value and goes beyond simply complying with applicable requirements. It means adhering to the highest standards of ethics and integrity. To that end, we have adopted a number of policies and processes to ensure effective governance of our company.

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GOVERNANCESTAYING FOCUSED ON OUR COMMITMENTS TO SHAREHOLDERS, EMPLOYEES AND COMMUNITIES

We believe that strong corporate governance requires a consistent focus on independent board oversight, accountability, transparency, and open and proactive communication with our constituents, including share-holders, employees and our communities. We continue to hone our governance practices to ensure that we remain true to this philosophy.

Independent Oversight

We view board independence as the cornerstone of good corporate governance. Our Governance Principles outline rigorous independence guidelines for the Board, and require that a substantial majority of the Board is independent. See www.raytheon.com under the heading Investor Relations/Corporate Governance/Governance Principles. Our directors are required to demonstrate their independence and that they have no conflict of interest that might interfere with their roles as Board members and fiduciaries. Our Board also has appointed a lead independent director, who has substantial responsi-bilities with respect to Board performance. Only indepen-dent members serve on Board committees —Audit, Gov-ernance and Nominating, Public Affairs, Management Development and Compensation, and Special Activities. This latter committee was established in 2010 to provide additional independent oversight of the company’s clas-sified business activities. The Management Development and Compensation Committee also has adopted a policy to ensure that its compensation consultant is fully independent from the company.

Accountability and Transparency

Our governance practices reflect our commitment to accountability and transparency. These values go hand in hand with providing meaningful shareholder access to the company. Our governance practices provide access through annual election of directors and majority vot-ing in uncontested elections. Last year, we also adopted provisions allowing shareholders holding 25% or more of the company’s stock to call a special shareholder meeting. Similarly, we have eliminated “poison-pill” anti-takeover protections. We have demonstrated additional account-ability through our “claw-back” requirement under which executives’ incentive compensation can be recovered in

cases of misconduct. Our stock retention policies require directors and executive officers to attain and retain certain levels of stock ownership, thereby ensuring alignment with shareholder interests.

We demonstrate our commitment to transparency through comprehensive reporting of financial and gov-ernance information. We provide substantial details of our governance and compensation philosophies in our annual Proxy Statement and have regular dialogue with our shareholders on compensation and other matters of interest. We have recently expanded our disclosure of our political activities on our website by providing links to state and federal lobbying activity reports and additional information on company policies related to this activity. See www.raytheon.com under the heading Investor Rela-tions/Corporate Governance/Political Contributions.

We maintain robust processes to ensure that these com-mitments are fulfilled effectively and efficiently. The com-pany has instituted rigorous internal controls to ensure accurate, complete and compliant reporting of financial and governance-related information. We maintain a Disclosure Committee which actively engages with our businesses and senior leadership on disclosure issues. We have implemented Web-based reporting procedures and periodic training to ensure appropriate disclosures and we require management at multiple levels regularly to certify the accuracy of information and compliance with laws in certain focus areas, including international transactions and lobbying activities.

Communicating with Constituents

We welcome opportunities for active engagement with our shareholders and other constituents. Senior man-agement regularly meets with shareholders to discuss matters of interest, including company performance and governance. Our lead director serves as a liaison for communication among shareholders, the Board, and management. Contacts can be made to the lead director or the Audit Committee through the company’s corpo-rate governance website at www.raytheon.com under the heading Investor Relations/Corporate Governance/Contact the Board. We are committed to responding to the diverse points of view that are raised through these communications.

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EthicSpace is a popular and engaging video vignette series that dramatizes workplace dilemmas and encourages employees to bring forward ethical concerns. In 2009, we were honored with a Silver Telly Award for our “Best Solution” vignette, and a Bronze Telly Award as well as a New York Film Festival Award for our “Speaking Up” vignette.

Raytheon’s Values of People, Integrity, Commitment and Excellence set the foundation for our Code of Conduct. The code provides guidance about business behavior expected of the Raytheon community as we work and interact with fellow employees, customers, suppliers and other stakeholders. The code applies to directors, officers, employees, consultants, representa-tives, and agents of the company, and reinforces the responsibilities we all share in protecting the company’s reputation.

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ETHICS DEMONSTRATING OUR VALUES THROUGH OUR ACTIONS

Raytheon’s comprehensive ethics program communicates to, and educates, our employees and other constituents about ethics issues to nurture and support our values and commitment to a culture of integrity.

Ethics Education

Our ethics education initiatives deliver innovative programs to guide employees’ ethical decision-making and commu-nicate important ethics messages. The program’s success is evident in employee feedback. In our 2010 Employee Opin-ion Survey, the relevance and usefulness of ethics education was favorably rated by 82% of respondents.

We deliver ethics education to our employees through numerous vehicles. Each year, all employees participate in “Ethics Checkpoint” sessions with small groups of peers to study ethical dilemmas based on real workplace situations, presented in video vignettes. Employees learn to pause, take an ethics check, and then proceed with the best course of action. In 2010, our Ethics Checkpoint programs highlighted labor charging, product integrity and supplier relationships.

We also provide ethics education through our “EthicSpace” series of videoclips delivered by email to all employees. EthicSpace videos present meaningful and relevant ethics education in an entertaining and readily accessed format. EthicSpace topics for 2010 included appropriate use of company-issued credit cards, export control rules, and safety on the job.

Finally, employees complete online learning modules relating to a wide range of legal requirements and other topics. To sensitize employees to key risks pertaining to our international growth strategy, in 2010 we launched a series of modules highlighting Foreign Corrupt Practices Act compliance subjects, which we call “FCPAware”. Over the past year, employees completed 56,000 FCPAware modules in addition to more than 157,000 modules on other compliance topics.

Ethics Involvement in Our Communities

Our ethics program also reaches beyond the company in promoting ethical business conduct. We are active participants in the Defense Industry Initiative on Busi-ness Ethics and Conduct and also provide financial and professional support to the Ethics Resource Center. In 2010, we sponsored the Intercollegiate Business Ethics Case Competition, held in connection with the Ethics & Compliance Officer Association’s annual conference. We continue to sponsor the Raytheon Lecture on Busi-ness Ethics series at Bentley University, which provides a forum for respected CEOs and other leaders to share insights on ethical business practices. In the international arena, we continue our active involvement with the Aerospace Industries of America and the Aerospace and Defence Industries Association of Europe (AIA-ASD) on the Global Principles of Ethical Business Conduct for the Aerospace & Defense Industry Initiative, and have made presentations on a variety of topics at AIA-ASD “best practice” forums in Berlin, Germany and Washington, D.C.

Performance Measures

Metrics demonstrate that our ethics program is active and effective. Out of a total of nearly 3,400 contacts with our ethics office in 2010, more than 80% were employees seeking advice. The ethics office investigated approxi-mately 450 misconduct allegations, and, where miscon-duct was substantiated, discipline up to and including termination was imposed. In the 2010 Employee Opinion Survey, questions concerning ethical behavior in our workplace received a 77% favorability rating, up 2 points from the prior year.

Ethics Checkpoint is a decision-making tool to encourage employees to pause and take an “ethics check” before proceeding with an action.

EthicSpace is Raytheon’s values-based mini-series that dramatizes what happens when employees face workplace dilemmas, and core company values are put to the test.

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As the need for GPS capabilities has become increasingly vital to various military and civilian operations, Raytheon has stepped up to the challenge to ensure our GPS systems work 24/7. We have engaged a world-class industry team with the right skills and experience to deliver the Global Positioning System (GPS) Advanced Control Segment (OCX), which will enhance net-centric and navigation warfare capabilities, and control over GPS II and GPS III satellites. Raytheon brings more than four decades of high-availability precision satellite command and control systems experience to GPS OCX.

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INNOVATION IN ALL DOMAINS

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ENGINEERING, TECHNOLOGY AND MISSION ASSURANCE PROVIDING INNOVATIVE TECHNOLOGY SOLUTIONS

Raytheon’s Engineering, Technology and Mission Assurance (ET&MA) organization provides innovative technology solutions that offer mission assurance to customers facing some of the world’s most challenging problems in the most difficult environments. Our goal is to push the boundaries of technology to create solutions that meet the needs of our customers and their communities.

Environmental Sensing Solutions

Raytheon’s Moderate Resolution Imaging Spectroradi-ometer (MODIS), the keystone instrument on the Earth Observing System Terra and Aqua satellites, has proven to be a major asset to the scientific community for the observation of global climate events and environmental crises. MODIS primarily is used to observe and monitor fires, volcanic eruptions, dust storms, hurricanes and floods. In 2010 MODIS helped the National Oceanic and Atmospheric Administration keep tabs on the oil spill in the Gulf of Mexico and provided daily images of ash plumes from the Eyjafjallajökull volcano in Iceland.

Alternative Energy Solutions

Raytheon is working with the U.S. Marine Corps’ Experi-mental Forward Operating Base (ExFOB) program to develop and test environmentally friendly renewable energy systems that reduce the amount of logistical support necessary for deployed forces conducting combat operations. By reducing the requirement for fuel delivery by truck convoy to deployed units, Raytheon’s solution lessens our warfighters’ exposure to potentially danger-ous situations. Our solution incorporates a militarized version of the ReGenerator™ — a self-contained power system that runs on solar array and wind power, made by another company for commercial applications.

Commercial Mobile Nuclear Radiation Detection

Raytheon is providing the Florida Department of Transportation with systems that detect nuclear threats in urban and other critical environments. The Raytheon Mobile Nuclear Radiation Detection System (MNRDS)

provides the ability to detect and identify nuclear radiation in mobile and stationary operations, using advanced spectroscopic technology. It expands Florida’s capability to safeguard against nuclear threats on highways, bridges, overpasses, tunnels, ports of entry, and at public venues and events that might be considered targets for terrorist activity.

Chemical Sensing Solutions

Raytheon is strengthening surveillance for the Port of Providence, R.I., by integrating chemical-detection sensors into the existing security system. Working with emergency management and environmental agencies, we installed equipment and integrated immediate warning capabilities to alert and protect Rhode Island communities from accidental and intentional chemical hazards. Using Raytheon’s Athena technology as the common operating picture platform, a network of sensors from the southern entrance of Narragansett Bay to the Port of Providence feeds information into the Providence Emergency Management Agency’s Operations Center. Athena integrates information from radars and cameras, providing authorities with a picture of events as they are happening.

Accredited Qualifications in a Virtual Classroom Environment

Raytheon is the first provider in the U.K. to offer accred-ited training qualifications delivered via virtual classroom using a collaborative learning approach. Our innovative learning methods enable organizations to do more with fewer resources. Raytheon applies Internet-based technologies that enable full interaction among students, trainers and peers and are designed to maximize the practical application of newly acquired skills and knowledge back into the workplace. All qualifications are accredited by the Institute of Leadership & Management, the U.K.’s premier awarding body for leadership and management qualifications.

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Raytheon has facilities, businesses and customers in nearly every corner of the globe. Day in and day out, members of our team interact with people from a diverse range of backgrounds. Thus, diversity of talent and thought is the cornerstone of our ability to provide solutions to the global market. If we are to achieve and sustain success, our organization must reflect the world we live in. Diversity and inclusion are more than just a competitive advantage. They are a competitive imperative.

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DIVERSITY MOVING FROM AWARENESS TO ACTION

Diversity at Raytheon is about inclusiveness — providing an atmosphere where everyone feels valued and empow-ered to perform at a peak level, regardless of differences such as age, race, gender, sexual orientation, family history or physical ability. We strive to build a diverse culture based on a foundation of respect and acceptance of individual differences.

Strategic Priorities for Diversity

Raytheon’s commitment to diversity starts at the top and is disseminated throughout the company by engage-ment of stakeholders at all levels. The Executive Diversity Leadership Team (EDLT) reports to our CEO to provide accountability for diversity at the most senior level of the company. The EDLT collaborates with the Raytheon Diversity Council (RDC), which is chaired by our chief diversity officer, and is composed of diversity directors/managers and representatives from each of our businesses, to provide strategic direction and sponsorship to diversity programs and projects across the enterprise. The EDLT and RDC have created two priority areas of strategic focus to help implement our diversity vision. They are:

– Universal Accountability — an expectation that all employees understand that each of us is responsible for providing an atmosphere of inclusion.

– Diversity Integration — a commitment to ensure that we view all facets of our activities through the “diversity lens” and that the concept of diversity is deeply embed-ded in our culture.

Activities undertaken in 2010 to promote these strategic priorities included mandatory diversity competency training for all employees and continuation of our Regional Diversity Summits. In both activities, employees learn new skills, attitudes and behaviors to capture the strength of our differences and increase diversity aware-ness. These tools are reinforced through a variety of other diversity programs and initiatives that take place across the company throughout the year.

Global Initiatives – Focusing on the Importance of an Inclusive Culture

As we continue to grow our international business, diversity of talent and thought becomes even more important to our ability to provide innovative solutions to the global market. To retain and attract diverse talent, we strive to provide an inclusive work environment and culture in all of our

locations. Regardless of geographical location or workplace environment, we believe that the elements of an inclusive culture include a diverse and productive workforce; an equitable and accessible work environment; an inclusive environment where all employees are valued; and the ability to work in an environment free from discrimination. We have recently expanded our Code of Business Ethics and Conduct to underscore our commitment to protection of human rights in our global business activities.

Supplier Diversity

Raytheon’s supplier diversity policies and practices are an integral part of building a world-class supply chain. In 2010, 38% of procurements exceeding $2.7 billion were awarded to small businesses. In addition, as a percentage of total contracts awarded in the year, small, disadvan-taged businesses received 7.1%; women-owned small businesses received 5.3%; veteran-owned small businesses received 6%; service disabled small businesses received 2.2%; and certified hub zone small businesses received 1.1%. All categories of small businesses provided goods and services that enhanced Raytheon’s ability to realize our mission of customer success.

To advance an inclusive culture at the company, various Employee Resource Groups (ERGs) have been formed to take on projects both within Raytheon and in our communities. These groups allow employees to communicate diversity issues and concerns in a neutral environment, as well as to network with other employees.

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Raytheon’s safety program contains key elements for success including management commitment, hazard assessment and employee involvement. The Missile Systems plant in Tucson, Ariz., is moving toward a “zero lift” factory environment by employing improved technologies such as Automated Guided Vehicles (AGVs), conveyance systems, and common fixturing, to provide “no lift” product movement between assembly operations. The results include the reduction of more than 100,000 lifts per year — from 130,068 to 23,408 unassisted lifts annually.

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SAFETY AND WELLNESS PUTTING PEOPLE FIRST

Through Raytheon’s world-class safety and wellness programs, we seek to protect our people and improve the quality of life enjoyed by all members of the Raytheon community. While we have made significant strides in employee wellness and in providing an injury-free workplace for our employees, we are committed to continuous improvement.

OSHA Voluntary Protection Program (VPP)

OSHA’s VPP uses rigorous criteria to recognize worksites with exemplary safety programs. Only approximately 2,500 out of nine million worksites in the U.S. have achieved VPP certification. In 2010, we continued our pursuit of our long-term goal of attaining OSHA VPP Star certification at all of our major domestic sites by 2013. We now have 17 VPP Star-certified locations, where approximately 36% of our employees work.

Injury Prevention

Achieving an injury-free workplace is a priority at all levels of the company. During 2010, we continued our pursuit of an injury-free workplace by direct CEO engagement with nine company locations that have injury rates greater than the company average. These nine locations submitted detailed improvement plans with specific actions to help them lower their injury rates. Status reports on the plans are periodically reviewed by company leadership.

Raytheon tracks three OSHA performance measures: recordable injury rate; lost workday injury rate; and Days Away/Restricted or Transferred Rate (DART). Since 1999, Raytheon has reduced its OSHA recordable injury rate by 65% and its lost workday injury rate by 52%. We are the

leading aerospace and defense company in achieving a safe work environment for our employees and among the very best of all Fortune 500 companies. While Raytheon has made significant progress by implementing best-in-class safety programs and processes, we experienced a small uptick in our recordable and lost workday injury rates this past year. These results were driven by fewer than 20 additional injuries at a very limited number of sites across the company. We have instituted corrective measures to address these increases and we continue to work toward our goal of an injury-free workplace. In 2010, Raytheon received the Aerospace Industries Association (AIA) Worker Safety Excellence Award in the Aerospace Components Category, which demon-strates that the company continues to be a benchmark leader in aerospace safety.

Leading Injury Causes and Solutions

The leading causes of injury continue to be ergonomics and slips, trips and falls. We define ergonomic injuries broadly to include not only repetitive motion injuries, but any injuries caused by pushing, pulling, lifting or lowering. A two-pronged approach to reducing ergo-nomic injuries was reinforced in 2010. Ten new tools were introduced into the Integrated Product Design Process to step-up ‘human focus’ during the design stage of our products. The human-focused design includes attention to acceptable lifting conditions, and repetitive or forceful exertions of the shoulder, arm and hand. For example, our Missile Systems facility in Tucson, Ariz., is moving toward a “zero lift” factory environment by employing improved technologies such as Automated Guided Vehicles, conveyance systems and common

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OSHA Recordable Injury Rate (Per 100 Employees)L O S T W O R K D AY I N J U RY R AT E ( P E R 1 0 0 E M P L O Y E E S )

O S H A R E C O R D A B L E I N J U RY R AT E ( P E R 1 0 0 E M P L O Y E E S )

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fixturing, to provide “no lift” product movement between assembly operations.

In an attempt to minimize slip, trip and fall injuries, we partnered with our insurance carrier to perform tribology studies over the past two years, at our major facilities across the country. These studies involve detailed assessments to identify potential slip, trip and fall risks in our facilities. We made numerous physical changes to our facilities to address safety hazards identified.

Integrated Disability Program

Raytheon continues to be an industry leader in workers’ compensation programs, utilizing innovative tools to manage and minimize the cost of employee absence. Supervisor training continues to be a key component in the education process for both occupational and non-occupational absence. Raytheon’s absence management initiatives prioritize an early and safe return to a productive work setting.

Our integrated disability programs, global health re-sources, and Environmental, Health and Safety (EHS) organizations are collaborating to address non- occupational safety issues that affect our workforce, with a special focus on reducing the impact from musculoskeletal injuries occurring off-the-job. Ladder safety, defensive driving and recreational safety programs were presented throughout the year.

Environmental, Health and Safety Audits

Our global responsibility is to ensure full compliance with all environmental, health and safety laws and regulations, as well as internal policies and standards. We have developed a robust EHS internal audit program, which performs approximately 25 audits per year to assess compliance. Sites are assessed on five established protocols: safety; industrial hygiene; environmental; asset protection; and EHS management systems. Locations are prioritized for audits based on risk and the complexity of their operations. The three types of audits performed are compliance, OSHA VPP gap assessments and OSHA recordability. Compliance audit results are reported up through the business presidents and to our CEO.

We look to our compliance record with regulators to help measure the effectiveness of our audit program. In 2010, federal, state and local regulatory agencies conducted 113 environmental and safety inspections of Raytheon

operating locations. One notice of violation (NOV) was received relating to a fire safety issue with no resulting fine. We perform a thorough root-cause analysis for each NOV and share “lessons learned” across the company to prevent recurrence.

Mission:Health

Under the umbrella of Mission:Health, the company offers comprehensive health and wellness programs, along with services and resources to employees and their families, encouraging them to adopt and maintain healthy lifestyles. We strive to foster a culture that supports employee health through fitness programs, healthy eating choices, health screenings, and preventive health programs and resources.

In 2010, employee health screenings were well attended at on-site locations nationwide. The screenings included blood pressure, cholesterol, blood sugar, height, weight, body mass index and health coaching. Employees received their results immediately, and those identified as being at high risk were coached on how to improve their health. Many were also referred to the condition management programs provided by their health plan for additional support in improving their health. The top three individual employee health risks were nutrition, weight and blood pressure. The company continues to offer the programs, tools and resources employees and their families need to help lower these risks.

The annual Healthy Worksite award recognizes Raytheon locations for supporting and fostering a culture of wellness and encouraging employee engagement. In total, there are approximately 55,000 employees in the U.S. and Canada who work at a site that has been designated as a healthy worksite.

Raytheon’s wellness programs also are offered internationally. In 2010, our international employees and their families gained access to virtually all of the same wellness programs available to domestic employees, such as the Shape Up Raytheon fitness challenge, NutriSum nutrition program, webinars and online health management tools available via WebMD®. Employees living in Europe, Asia, Australia and Canada took the Shape Up Raytheon challenge and participated in the Quit for Life smoking-cessation program.

EHS assures customer success by being a world leader in the protection of people, property and the environment.

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Work/Life Program

Raytheon provides a wide variety of customized programs and services to help employees and their families cope with the everyday and out-of-the ordinary stresses that can affect health and productivity.

The Work/Life Program is designed to meet the needs of a diverse workforce. In 2010, Raytheon held a series of webcasts, designed to educate employees about the many work/life services and programs available to them. Programs and services offered include:

– Integrated employee assistance program and resource and referral programs;

– Back-up care advantage program, providing child and adult care to employees when their usual care arrangements are unavailable;

– Enhanced eldercare program that provides in-home assessment, evaluation and recommendations for elder family members;

– Flexible work arrangements to maximize work/life effectiveness for employees;

– Financial counseling services;

– Group legal plan offering access to a nationwide network of attorneys who can help with a variety of legal matters; and

– Estate planning for special needs dependents.

In response to employee requests for assistance with autism-related issues, beginning in 2011, the company provides a dedicated Autism Advocate, through Optum-Health, to provide education and support for families impacted by autism. The company also increased its Adoption Assistance benefit starting in 2011.

The Raytheon running team finished first for the 13th consecutive year at the annual Army Ten-Miler. In a race with more than 700 Army and civilian teams, the Raytheon team outpaced the competition with an official time of 3:38:21.

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The U.S. Environmental Protection Agency awarded Raytheon the 2011 ENERGY STAR® Sustained Excellence Award for our successful strategies and programs to reduce energy consumption, improve energy efficiency and cut greenhouse gas emissions. This is the fourth consecutive year Raytheon has received the Sustained Excellence Award, and the seventh time in 11 years that we have been recognized under the ENERGY STAR program.

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SUSTAINABILITY REDUCING OUR ENVIRONMENTAL IMPACT

Raytheon’s sustainability program seeks to enhance the company’s activities to protect our environment and conserve natural resources by engaging our employees, customers, suppliers and communities. We have established seven focus areas to provide structure and a road map for performance targets and goals:– Energy efficiency – Greenhouse gas reduction– Waste reduction and recycling– Water conservation– Design for sustainability– Eco-friendly procurement– Innovative environmental solutions

Climate Change and Greenhouse Gas Emissions

Raytheon joined the U.S. Environmental Protection Agency’s (EPA’s) Climate Leaders® Program in 2002 and set its first formal goal for reducing greenhouse gas (GHG) emissions. The goal was to reduce GHG emissions by 33% between 2002 and 2009, normalized by revenue. The company achieved this reduction goal one year ahead of schedule, reducing emissions 38%, normalized by revenue, and was recognized by the EPA for this achievement. Raytheon has been reporting annual GHG emissions publicly in the Carbon Disclosure Project since 2003.

Continuing our commitment to reduce our carbon footprint, Raytheon worked with the EPA in 2009 to set another aggressive goal to reduce GHG emissions on an absolute basis (not normalized by revenue) by 10%

between 2008 and 2015. As of the end of 2010, the company reduced absolute emissions 4.5% from 2008. Since 2002, Raytheon has reduced its absolute GHG emissions by 21%, preventing more than 570,000 metric tons of GHG emissions cumulatively. In 2010, the company’s GHG emissions were 583,000 metric tons of carbon dioxide equivalents. Of these emissions, 83% were indirect emissions and only 17% were direct emissions.

Raytheon has been ranked as the 75th greenest company in America in the second annual Newsweek® Magazine Green Rankings. The magazine evaluated the 500 largest publicly traded companies in America. Raytheon also finished in the No. 3 spot within the Transportation and Aerospace sector.

Energy Management at Raytheon

Approximately 90% of Raytheon’s greenhouse gas emissions are due to energy consumption. Therefore, energy conservation and improved energy efficiency are critical elements in Raytheon’s strategy to reduce our carbon footprint. The company implemented a wide array of energy conservation projects in 2010, including high- efficiency lighting, variable speed drives for motors, pumps and fans, premium efficiency motors, and state-of-the-art automated energy management and control systems. Since 2002, energy consumption declined on an absolute basis by 14%, saving approximately $60 million in energy costs cumulatively. Some of the electricity that Raytheon purchases is generated by renewable energy sources, such as wind farms and landfill gas projects.

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Raytheon strives to integrate sustain-ability into everything we do. It’s our commitment to future generations to protect our environment and conserve natural resources. In developing best practices, we benefit our workplace, our communities and our world.

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Raytheon U.K. attained the Carbon Trust Standard, a trusted, third-party validation of emission data and carbon management practices.

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Since 2008, Raytheon has bought 31,000 megawatt hours of “green” electricity in the form of renewable energy certificates.

Save Energy Now® LEADER

In 2010, Raytheon became a Save Energy Now LEADER with the U.S. Department of Energy (DOE) and commit-ted to a 25% reduction in energy per dollar of revenue over 10 years. As a Save Energy Now LEADER, Raytheon can receive tailored assistance to develop an energy management plan. Raytheon will also receive priority access to technical assistance and resources to reduce energy use, carbon emissions, and costs while increasing economic viability.

Energy and GHG Reductions in the United Kingdom

Raytheon operations in the U.K. have had an aggressive focus on energy efficiency for many years, and have reduced their absolute GHG emissions by 7% over the past three years. They are well positioned to comply with the U.K.’s Carbon Reduction Commitment (CRC) Energy Efficiency Scheme cap-and-trade carbon legislation.

In 2010, Raytheon U.K. attained the Carbon Trust Standard (CTS), a trusted, third-party validation of emission data and carbon management practices. CTS is awarded only to organizations who accurately measure and reduce their carbon footprint from all required emission sources. Raytheon U.K. was one of the first companies, under the sector of “Industrial and Manufacturing” to attain the CTS.

Active Employee Involvement

Raytheon’s Energy Citizens campaign continued to engage employees in energy conservation efforts in 2010. An Energy Citizen makes a personal commitment to minimizing his or her personal impact on the envi-ronment. In 2010, almost 40,000 Raytheon employees participated, demonstrating true dedication to sustain-ability by integrating energy saving and environmentally sensitive behaviors into activities at work and at home.

Green Information Technology

Three years ago, Raytheon embarked on an aggressive program with three strategic intents: make IT operations as sustainable as possible; use IT to help other functions become more efficient; and create a culture of sustainabil-ity in IT. We focused on improving the efficiency of data centers, reducing waste and consumables, and working with suppliers to reduce the environmental impact of the IT hardware lifecycle. Virtualization of more than 2,000 data servers and data center design improvements produced $23 million in annual savings and almost a megawatt reduction of direct power, leading to four Green IT awards in two years including those from InfoWorld® and Homeland Security Today.

Pollution Prevention and Recycling

We continue our companywide effort to prevent pollution, preserve natural resources, and work toward zero waste generation and the recycling or reuse of waste. Since 1998, Raytheon has reduced its hazardous waste generation by 90%, normalized by revenue. In 2010 we generated approximately 879 tons of hazardous waste, of which 84% was recycled or otherwise diverted from landfills.

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Across the company, employees celebrated the 40th anniversary of Earth Day. Activities included e-scrap collection drives, com-munity cleanups, and recycling and energy initiatives.

Raytheon employees took inven-tory of their office areas and “cleared the clutter” by recycling and removing unwanted materials to provide the space and inspira-tion for new ideas.

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Since 1998, Raytheon has reduced the volume of solid waste generated by 58%, normalized by revenue. In 2010, we generated 19,446 tons of solid waste, of which 64% was recycled. In 2008, the company set a goal to reduce solid waste sent to landfills or incinerators by 25% between 2008 and 2013, normalized by revenue. As of the end of 2010, Raytheon has achieved a reduction of 17% normalized by revenue. We continue to expand our programs to make our dining facilities greener by using environmentally preferable dinnerware and also collect and divert waste food and consumables to off-site com-posting operations.

Water Conservation

Since our baseline year of 2008, the company has reduced water consumption by 15% saving more than 190 mil-lion gallons of potable water. The company is pursuing numerous water conservation measures such as low flow plumbing fixtures, cooling tower enhancements, process modifications, and landscaping irrigation changes. We currently use 54 million gallons of recycled water annu-ally in our operations.

Environmentally Responsible Restoration

Raytheon invests significant resources in the responsible cleanup of past environmental contamination. Raytheon is involved in 41 active remediation sites, with a future combined cost estimate of $225 million (present value of $152 million before recovery). The 41 sites include 23 former and eight current operating locations, as well as 10 third-party landfill and recycling locations. Nine of the 41 sites are classified as Federal Superfund sites.

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At the conclusion of the 2010 Farnborough Air Show, there was a a rocket “fly-off ” between the top student teams from the U.S., U.K., and for the first time this year, France. The Raytheon-sponsored U.S. team beat out 99 other teams in the states for a chance to compete at the international air show, and then won the international competition. The rockets fly approximately 825 feet in the air, or the rough equivalent of nearly three football fields, must safely carry an egg, and then land without a parachute. The rocket competition was created to encourage students to study math and science and pursue careers in aerospace.

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SUPPORTING OUR COMMUNITIES ENGAGE, INSPIRE AND HONOR

Raytheon takes a strategic approach to community involvement by focusing on key areas that are important in the company’s business strategy, including math and science education and armed services support. Raytheon is committed to making math fun, encouraging students to pursue careers related to science, technology, engineer-ing and math (STEM), and helping to inspire the next generation of U.S. innovators.

– Reach: Celebrating its five-year anniversary, Raytheon’s MathMovesU® program has touched the lives of more than 1,000,000 students, teachers and parents. Raytheon annually awards more than $2 million in scholarships and grants to recognize students, their teachers and schools for mathematical achievement and advancement.

– Commitment: In the past five years, Raytheon has committed more than $60 million to its own signature program, MathMovesU, as well as existing STEM and education programs. Raytheon plans to invest over $60 million more over the next five years.

– Inclusion: Raytheon’s reach includes engaging with girls and under-represented minorities through mentoring and tutoring programs, math coaching, school visits and leadership camps.

– Depth: Raytheon used its engineering talent and pro-cesses to develop a modeling tool for the U.S. education system which is now in the hands of administrators, researchers and educators through a partnership with the Business-Higher Education Forum (BHEF).

– Awareness: Raytheon’s STEM education program includes a comprehensive integrated communications campaign to highlight the issue and solutions to business leaders, government officials, school administrators and teachers, parents and students.

Math and Science Education

The common denominator of Raytheon’s many world-wide programs is the engagement of students with unique, interactive experiences that capture the excite-ment of math and science while inspiring, enlightening and even entertaining. In 2010, Raytheon expanded the popular MathMovesU initiative with several new programs, sponsorships and partnerships.

Dearborn Middle School Technology LabRaytheon and the Boston Celtics opened a state-of-the-art lab in an underprivileged Boston neighborhood to provide teachers and students with technology resources and educational opportunities for STEM learning.

Team America Rocketry Challenge (TARC)Raytheon is a primary sponsor of the annual TARC Finals – inspiring students to learn principles of aerospace engineering through a rocket-launch competition. Addi-tionally, Raytheon hosts the winning teams from the U.S., U.K. and France rocketry challenges to attend the annual European air show. The three teams conduct a fly-off at the air show in competition for the international title.

FIRST® RoboticsRaytheon supports the FIRST (For Inspiration and Recognition of Science and Technology) Robotics Competition for high-school students. In 2010, we supported 48 FIRST Robotics teams across the nation, with 11 Raytheon-sponsored teams participating in the National Championships in Atlanta.

MATHCOUNTS®Raytheon is the title sponsor of the MATHCOUNTS National Competition through 2014. Raytheon has partnered with MATHCOUNTS to increase middle-school mathematics achievement for the past 15 years.

Change the Equation™Raytheon participated in the Change the Equation (CTEq) Presidential initiative, which is devoted to cultivating widespread literacy in STEM with a focus on a larger and more racially, ethnically and gender-diverse pool of students.

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U.S. STEM Modeling ToolRaytheon and the BHEF unveiled a new state-level STEM modeling program, and a Web-based tool that allows policymakers and others easily to access the model and run their own simulations or view a set of pre-existing scenarios. Both are designed to help policymakers, educators and researchers understand the complex nature of the U.S. education system and identify potential solutions that could increase the number of students who are interested and prepared in STEM fields, and ultimately, increase the number of students who obtain college degrees in these fields.

Eduventures® Research StudyRaytheon commissioned a global research study to analyze parents’ math attitudes and capabilities, and students’ active engagement in math-related learning in the U.S., England and Singapore. The study reveals a number of differences in education techniques and parental involvement in the three countries that may inform U.S. math education policies in the future. For example, while parents in the U.S. are more confident in their abilities to help their children, these children are tasked with performing math skills at a lower level than their Singaporean peers.

Armed Services Support

Raytheon is honored to support those who have sacrificed so much to serve. The highlight of our armed services support in 2010 was our $2.5 million grant and partner-ship to support Wounded Warrior Project’s (WWP) Economic Empowerment programs to enable them to expand their Transition Training Academies, establish a distance learning capability and develop a cybersecurity curriculum. All initiatives are aimed at providing returning injured servicemembers with the tools needed to successfully transition to other careers.

We also supported a variety of other organizations including the Intrepid Fallen Heroes Fund, Marine Corps Scholarship Foundation, Special Operations Warrior Foundation® and the USO®. Raytheon’s Information Tech-nology organization donated nearly 2,000 surplus comput-ers to Operation Homelink, which were distributed to more than 800 families and 60 severely wounded warriors.

The WWP’s Transition Training Academy empowers candidates to learn new career skills with real-world application for a greater chance of securing future employment. Graduates have the opportunity to gain civilian employment after leaving the service, or return to an IT-related military occupational specialty. [Photograph courtesy of Wounded Warrior Project.]

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The Wounded Warrior Project® (WWP) is a not-for-profit organization that aims to foster the most successful, well-adjusted generation of wounded warriors in the nation’s history. Raytheon and Cisco will help WWP extend education programs with expertise, technology and financial resources. These expanded programs will help injured servicemen and women develop new skills for a successful transition to the civilian workforce and pursue opportunities to become cybersecurity professionals for their country.

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Raytheon’s IT employees also continued Operation CARE Package by providing needed commodities to an Air-borne/Ranger platoon stationed in Afghanistan.

Raytheon employees continue to pursue other oppor-tunities to show appreciation for those who are serving our country. In 2010, we held morale events at local VA hospitals and organized farewell luncheons for deploying soldiers. We also collected more than 15,000 pounds of care package items to be provided to deployed troops through Anysoldier.com®.

In 2010, Raytheon committed $1.5 million to the National Museum of the U.S. Army as a sponsor of STEM education content in the Museum’s Experiential Learning Center. Additionally, to mark the one-year anniversary of Sum of all Thrills™ at INNOVENTIONS at Epcot® we expanded support for the Family Technology Center at Shades of Green® at the Walt Disney World® Resort.

Digital Archives

Raytheon is honored to be among the founding technology partners of the John F. Kennedy Presidential Library to support the building and operation of the library’s digital

archive. Through this project, the library will become the first, among the presidential libraries not “born digital,” to house a widely accessible database of original presidential records from the National Archives and Records Adminis-tration (NARA). Raytheon has provided leadership to the public/private partnership, in cooperation with NARA, through the donation of system architecture design, technical project management and security testing. To date, Raytheon’s contribution totals 2,000 hours of senior engineering services. The archives debuted online in January 2011.

Volunteers

MathMovesU celebrated its five-year anniversary with a new website portal (www.MathMovesU.com) and a variety of events across the nation. More than 200 live MathMovesU events were held in 2010. Through these efforts, MathMovesU reached more than 90,000 students, parents and teachers. Collectively, employees across Raytheon gave 76,486 hours of their time to volunteer efforts in 2010, an increase of 110% over 2009.

The historic relationship between President Kennedy’s legacy and Raytheon include the company’s production of the on-board computers that performed the navigational computations enabling the Apollo 11 mission. Nearly seven years prior to the fulfillment of the President’s original vision, he inspected the interior of the “Friendship 7” Mercury capsule with Astronaut Col. John Glenn, Jr. at Cape Canaveral, Florida. [Photograph by Cecil Stoughton in the John F. Kennedy Presidential Library and Museum.]

Research and Consulting for Higher Education

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It is our ongoing achievements, reflected in the awards and recognition we receive, that speak for our commitment to building a culture of integrity. While we take great pride in our accomplishments, each award and accolade is also a reminder of our responsibility to our customers and to the communities where we work and live. With a history of innovation spanning 89 years, we are committed to ensuring that our work today will help prepare us for the missions of tomorrow.

2 Vision,Strategy,GoalsandValues4 Governance6 Ethics8 Engineering,TechnologyandMissionAssurance10 Diversity12 SafetyandWellness16 Sustainability2o SupportingourCommunities24 AwardHighlights

CONTENTS

We invite you to visit our website to learn more about

Raytheon’s ongoing sustainability initiatives and discover

how our best practices are making an impact.

www.raytheon.com

keyword: corporate responsibility

SCAN THIS QR CODE WITH YOUR SMARTPHONE TO VIEW OUR INTERACTIVE CORPORATE RESPONSIBILITY REPORT.

AWARDS AND RECOGNITION CONFIRMING OUR ACHIEVEMENTS IN CITIZENSHIP

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Raytheon’s2009CorporateResponsibilityReportgarneredtophonorsfromtheCommunitasAwards.Theawardsareaninterna-tionalefforttorecognizeexceptional

organizationsthatarechanginghowtheydobusinesstobenefittheiremployees,communitiesandtheenvironment.TheLeadershipinCorporateSocialResponsibilityAwardrecognizesRaytheon’sethicalandsustainablebusinesspracticesandcommitmenttothecommunity.

RaytheonreceivedtheU.S.Envi-ronmentalProtectionAgency’s2011ENERGYSTARSustainedExcellence

Award,thehighesthonorgiventoENERGYSTARpartners.ThisisthefourthconsecutiveyearRaytheonhasreceivedtheSustainedExcellenceAwardandtheseventhtimein11yearsthecompanyhasbeenrecognizedundertheprogram.

TheAerospaceIndustriesAssociationrecognizedRaytheonwitha2010WorkerSafetyExcellenceAwardintheAerospaceComponentscategory.

Winnerswereselectedbasedontheirinjuryratesin2009andthestrengthoftheirsafetyprograms.ThisistheseventhtimeRaytheonhaswonaSafetyExcellenceAwardfromtheassociation.

ThereadersofCareers&thedisABLED,MinorityEngineerandEqualOppor-tunityMagazinesonceagainhonoredRaytheonforitscommitmenttorecruit-ing,hiringandpromotingapositivework

environmentfortheirrespectiveaudiences.

RaytheonU.K.wasawardedtheRoyalSocietyforthePreventionofAccidents(RoSPA)GoldMedal.Theawardrecognizesthematurityandeffectivenessofthecompany’shealthandsafety

managementsystemsandalsotakesintoaccountinjuryrateandenforcementexperiences.

ChairmanandCEOWilliamH.SwansonwashonoredbytheAmericanAustralianAssociation

forhiscontributionstotheU.S.-Australiarelationship.SwansonacceptedtheawardonbehalfofRaytheonemployeesworldwide.TheAmericanAustralianAssocia-tionisanonprofitorganizationdevotedtostrengtheningrelationsbetweentheUnitedStatesandAustralia.

RaytheonwasselectedbyInfoWorldforitsGreen15Awards.ThisisthesecondconsecutiveyearRaytheonreceivedthisgreenITindustryaward.Theawardsrecognizethe15mostinnovativeITinitiativesthatfallunder

theumbrellaofsustainability.TheawardmarksaseriesofrecognitionsforRaytheon’sinnovativegreenITinitiatives.

RaytheonwashonoredonceagainbytheNationalBusinessGrouponHealthwithaBestEmployersforHealthyLifestylesSilverAward,recognizingcompanywideeffortstohelpemployeesandtheirfamiliesmakebetterchoices

abouttheirhealthandwell-being.

Forthesixthconsecutiveyear,Raytheonhasachievedascoreof100%ontheHumanRightsCampaign®CorporateEqualityIndex,recognizingachievementsofthe

companyincreatinganinclusiveandopenenvironmentforallemployees.

Bersin&AssociatesrecognizedRaytheonasa2011LearningLeader®foritsindustry-leadingtalentdevelopmentprograms.Thisawardrecognizescompaniesthatdemonstrateeffectiveapproachesto

employeedevelopmentandlearningresultinginorganizationalimprovement.

2010

Our commitment to future generations.

corporateresponsibilityreport

Raytheon Company870 Winter Street Waltham, Massachusetts02451-1449 USA 781.522.3000

www.raytheon.com

Raytheon, Customer Success Is Our Mission and MathMovesU are registered trademarks of Raytheon Company. Raytheon Six Sigma and Sum of all Thrills are trademarks of Raytheon Company. Capability Maturity Model and CMMI are reg-istered trademarks of Carnegie Mellon University. ReGenerator is a trademark of ZeroBase Energy LLC. WebMD is a registered trademark of WebMD LLC. OptumHealth is a trademark of RIO Holdings Inc. ENERGY STAR and Climate Leaders are registered trademarks of the U.S. Environmental Protection Agency. Save Energy Now is a registered trademark of the U.S. Department of Energy. Business-Higher Education Forum is a registered trademark of the Business-Higher Education Forum. MATHCOUNTS is a registered trademark of the MATHCOUNTS Foundation. Change the Equation is a trademark of Information Technology and Innovation Foundation. Eduventures is a registered trademark of Eduventures Inc. Wounded Warrior Project is a registered trademark of WWP Inc. USO is a registered trademark of the United Service Organizations Inc. The Hall at Patriot Place is a trademark of NPS LLC. Innoventions is a registered trademark of The Walt Disney Company. Epcot is a registered trademark of Disney Enterprises Inc. Walt Disney World is a registered trademark of Disney Enterprises Inc. VolunteerMatch is a registered trademark of Impact Online Inc. Anysoldier.com is a registered trademark of Any Soldier Inc. Newsweek Magazine is a trademark of Harman Newsweek LLC. Human Rights Campaign is a registered trademark of the Human Rights Campaign Foundation. Learning Leaders is a registered trademark of Bersin & Associates LLC. InfoWorld Magazine is a registered trademark of International Data Group Inc. Copyright © 2011 Raytheon Company. All rights reserved. Raytheon is an equal opportunity employer.

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