csra investor day

INVESTOR DAYNovember 5, 2015

2

Forward-Looking Statements

All statements in this presentation that do not directly and exclusively relate to

historical facts constitute “forward-looking statements.” These statements

represent CSC’s and/or CSRA’s intentions, plans, expectations and beliefs, and

are subject to risks, uncertainties and other factors, many of which are outside the

control of either CSC or CSRA. These factors could cause actual results to differ

materially from such forward-looking statements. For a written description of these

factors, see the section titled “Risk Factors” in CSC’s Form 10-K for the fiscal year

ended April 3, 2015 and any updating information in subsequent SEC filings as

well as in CSRA’s Registration Statement on Form 10 including the information

statement included as an exhibit thereto. CSC and CSRA disclaim any intention or

obligation to update these forward-looking statements whether as a result of

subsequent event or otherwise, except as required by law.

3

Non-GAAP Reconciliations

This presentation includes certain non-GAAP financial measures, such as

operating income, operating margin, Earnings Before Interest and Taxes (EBIT),

free cash flow, capital expenditures and capital intensity. These non-GAAP

financial measures are not meant to be considered in isolation or as a substitute

for results prepared in accordance with accounting principles generally accepted in

the United States (GAAP).

A reconciliation of non-GAAP financial measures included in this presentation to

the most directly comparable financial measure calculated and presented in

accordance with GAAP accompanies this presentation and is available at

www.csc.com/investorrelations. Our respective management teams believe these

non-GAAP financial measures provide useful information to investors regarding our

financial condition, cash flow and results of operations as they provide another

measure of our profitability and ability to service our debt, and are considered

important measures by financial analysts covering us and our peers.

4

Agenda

PresentersTopic Time

Mike LawrieLarry Prior

Introducing CSRA 1:00 - 2:00 pm

Q&A 2:30 - 3:00 pm

David KefferFinancial Outlook and Capital Allocation

2:00 - 2:30 pm

5

A. Introducing CSRA: A Three-Year Transformation

B. CSRA Key Investment Highlights

C. Financial Outlook and Capital Allocation

6

To Accelerate Our Transformation, We Are Separating into Two Companies

Benefits for stakeholders

Leader in U.S. government IT & professional services

19KEmployees

$5.5BFY15 Revenue

14%Operating margin

Trusted IT partner for Fortune 500 companies

56K Employees

$8.1BFY15 Revenue

10%Operating margin

CSC:

Commercial

CSRA:

U.S. Public

Sector

Clients

• More focused IT innovation

• Best-in-class partners

• Global offerings

Investors

• Significant value creation opportunity

• Access to two pure-play companies in two different market segments

Employees

• Long-term stable environment

• Platform for next-gen skills

• Clarity of purpose

Partners

• Access to two significant segments of the IT services business

• Access to our broad customer base

7

We Have Significantly Improved Our Public Sector BusinessOver the Last Three Years

Turnaround priorities

64.32015 Net Promoter

Score, up from 44.1

17%Increase in win rate,

by number of bids won

90%Recompete win

rate, up from 54%

>2xOperating margin

improvement

What we achievedFY12 FY15 FY17

Operating Margin 6.4% 8-9%

Prior targetsStarting point

14.7%

Institute transparent and accountable management system

Fix the foundation

Expand market coverage and drive demand

Move up the value chain

Scale next-gen offerings

Rationalize and standardize offerings

8

Our Strategic Priorities Will Ensure CSRA’s Ongoing Success

Sustain best-in-class margins through our delivery excellence, favorable

contract mix, cost discipline, and synergy realization1

Efficiently allocate capital to quickly de-lever while investing in the

business and returning FCF in dividends and share repurchases

2

Invest in strengthening our industry-leading workforce

4

3

Capitalize on revenue growth opportunities through our broad array of

offerings, deep client understanding, and extensive partnerships

b. Leverage our uniquely diversified customer base to stay aligned with

the government’s funding priorities

a. Lead our clients on their digital journeys

9

Introducing CSRA’s Executive Leadership

Mike LawrieChairman

Larry PriorPresident & CEO

David KefferEVP & CFO

30+ years in the intelligence community and defense sector

Leadership roles at BAE, SAIC, and ManTech

12 years in SRA’s finance, accounting, and growth functions

Prior experience with Navigant and Maden Tech

10




11

CSRA Key Investment Highlights

Clear Market Leader with Differentiated Next-Gen Capabilities in the Federal IT

Services Market1

Compelling Financial Profile with Attractive Contract Mix and Best-in-Class Margins

2 Balanced Portfolio with Uniquely Diversified Contract and Customer Base

3

Strong Position in Higher Growth Segments of the Federal IT Services Market4

Disciplined Growth Strategy Driven by Significant Backlog, Robust New Business

Pipeline, and Strict Operational Rigor5

Leadership Team with Proven Operational Track Record Supported by

Industry-Leading Talent6

12

The CSRA Difference

We combine next-generation technologies with innovative solutions to help our public sector customers meet challenges in an evolving digital world

Strategic Intent Statement

To lead the industry in enabling public sector agencies to leverage IT technology and next-generation solutions to

exponentially improve the effectiveness and efficiency of mission-critical functions for our warfighters and our citizens

CSRA: Enabling the U.S. Federal Government

THE POWER OF CSRA

We have over 50 years of public sector experience with our commercially developed

best practices.

OUR PEOPLE

Passionate employees blend business process,

design, and technical capabilities.

THE BRANDS

Our Brands are a proven holistic approach to solving customer

business challenges, drawing on best practices across commercial and government industries.

NEXT GENERATION

We are leading innovation through next-

gen technology and solutions in cloud, big

data, mobility, and apps.

ALLIANCE PARTNERS

We have enhanced our technical and domain

expertise with strategic partnerships that deliver innovative end-to-end

solutions.

TECHNOLOGYINDEPENDENCE

Flexible and informed point of view

optimizes customers’ technology choices.

13

Scale with Best-in-Class Margins Diverse Customers & End Markets

19,000

EMPLOYEES

4,700

U.S. VETERANS

100+

CONTRACT VEHICLES

2,000+

PROJECTS

$5.5

$5.3

16.6%

9.9%

CSRA

CSRA

Significant Scale

Best-in-Class EBITDA Margins

(Revenues in billions)

Hea

lth

Civ

ilIn

tel

Classified

Defe

ns

e

Nearest

Peer

Nearest

Peer

The Leading Pure-Play Federal IT Services Provider

Organizational Snapshot

We See Opportunity to Gain Market Share in a Large and Fragmented Market That Is Gradually Shifting to

Next-Gen Technologies, While Sustaining Best-in-Class Margins

14

Differentiated Portfolio of Capabilities and Service Offerings

DEFENSE ITModernized and sustain one of the

world’s largest supply chains, streamlining military logistics, and

support for a major branch of the U.S. Armed Forces

CIVILProvide administrative, financial, human resources, and procurement services to employees, applicants, contractors, and

university partners for a major Civil agency

HOMELAND SECURITYProvide IT infrastructure

services to support a major agency’s

counterterrorism mission

We have commercially developed best practices and technologies with

next-gen partners

DEFENSE MISSIONManage and operate the largest

helicopter training facility in the world, using leading-edge flight simulators to

provide more than 70,000 hours of training to 1,100+ student pilots

annually

HEALTHCAREDeveloped the first public

multi-payer system for processing claims and

payments for Medicaid and other programs in the United States

INTELSupport the IntelligenceCommunity’s Information

Technology Enterprise strategywith seamless, secure solutions for its

applications and data analytics

TECHNOLOGY ENABLED MISSION SERVICES

SCIENCE AND THREATREDUCTION SOLUTIONS

ENTERPRISE SERVICES IT NEXT-GEN TECHNOLOGYMISSION SERVICES

APPLICATIONMODERNIZATION

AND OPTIMIZATION

APPLICATION INNOVATION SERVICES

CITIZEN SERVICEENABLEMENT

CLASSICAL SERVICES

CONVERGEDINFRASTRUCTURES

CSRA Is a Trusted Leader in Delivering Commercially Developed Practices to the Civil, Health, Defense & Intelligence Sectors

CYBER SECURITY

CLOUD POWEREDCOMMERCIAL SOLUTIONS

BIG DATA SCIENCE

CLOUD BROKERSERVICES

CUSTOMPLATFORMSERVICES

15

Brands

Our Extensive Capabilities Align with Client Priorities

PartnersHigh growth brands

We take our clients on a

transformation journey to

hybrid cloud

Science& Threat

Reduction Solutions

DoD Mission

Converged Infra-

structures

Cloud Broker

Services

Custom Platform Services

Classical Services

Application Innovation Services

Big Data Science

ApplicationModernization & Optimization

Cyber

Citizen Service

Enablement

Cloud Powered

Commercial Solutions

Market Trends + Deep Client Intimacy + Aligned Capabilities = Opportunity for Growth

We have deep client

intimacy grounded in the

mission

We tailor our suite of

capabilities to client

needs

Next-Gen

Technology

Enterprise

Services IT

Mission

Services

16

We Have Deep Client Understanding in Civil…

TSA Cyber SecurityDHS Stennis Data Center Operation

Long-Standing

Client Relationships

EPA Water Security Support NASA Shared Services Center

HHS CMS DECC Quality Systems VA Enterprise Veteran Self Service

Civil: $2.9B

DHS: 13 years,

since inception

CDC: 24 years

NIH: 20 years

Other HHS Op.

Divs: 21 years

Veterans Affairs:

20 years

EPA: 37 years

DOE: 25 years

DOS: 22 years

Homeland

Security

Health

Other Civil

Apps Mod; Cloud and Mobility Services Reduced Cost Infrastructure Support

24x7x365 Cyber security to TSA networks ISO 27001:2005 Certified

Consolidated support of IT services ServiceNow SaaS to NASA improves

productivity

Chemists, Microbiologists & Climate Change experts

Mobile apps for decision support tools

Agile software development Moving data packages to Amazon Cloud

Streamlined customer benefits interface Software dev, operations, and maintenance

17

... And Defense & Intel to Lead Clients into the Digital Future

USEUCOM / USAFRICOM ITArmy Logistics Modernization

Eagle Alliance Classified IT Mission-Critical Classified IT

Army Flight School XXI Naval Sea Systems Command

Defense & Intel: $2.6B

Mission-Critical

Joint Unified

Combatant

Command

Support which

includes 5th

Signal Command

30+ year

relationships with

all DoD branches

Intel agencies:

30 years

Defense

IT

Defense

Mission

Intel

Major successful SAP implementation Extensive use of HANA for analytics

Enterprise IT services with next-gen offerings

IT collaboration and data sharing

Virtualized desktop environment and backend infrastructure

Developed private cloud for Intel Community

High fidelity low-cost training solution Turn-key helicopter virtual training services

System engineering & design service for major ship classes

Top services provider to NAVSEA

24x7x365 support for global operations Provide secure, mission-critical global

IT enterprise support

Long-Standing

Client Relationships

18

Balanced Portfolio with Uniquely Diversified Contract and Customer Base

Balanced

Portfolio

Diversified

Contract Base

IT Infrastructure,

IaaS, PaaS

Apps,

SaaS,

Business Outcomes

Mission

Services

Medium contracts

$10M to $100M

Small contracts

<$10M Large contracts

>$100M

Deep Experience

Across Clients

Intel

Defense IT

Health

Homeland

Security

Other

Civil

Defense & IntelCivil

3xBacklog to Revenue

10 yearsAverage contract length

for Top 25 contracts

200%+Contract value versus original contract award

for Top 10 contracts

38%

38%

24%32%

44%

23%15%

21%

11%17%

20%

15%

Defense

Mission

Classified

19

Brands, Partners, Achievements

Transition to leading edge

hybrid cloud environment

Develop business insights for

strategic planning and

decision-making

Operate in a

budget-constrained

environment

National aviation authority that regulates and oversees all aspects of American civil aviation

Case Study:Next-Gen Infrastructure and Workplace for FAA Leading our clients into the digital future

Started with DUATS

and TFMS apps

Transitioned FAA to cloud-based email on Microsoft Office 365

Data center consolidation and cloud migration

Real-time monitoring & cloud management with Agility Platform

Cloud brokerage model and tailored hybrid cloud with DR/COOP

Improved security posture with Horizon

Business growth potentialwith PaaS and SaaS

FAACloud

Services

55K accounts transitioned to cloud-based Office 365 email

Quarterly reviews to optimize for price, performance, and capabilities

Opportunity Our Engagement

Cloud Broker

Services

Custom Platform Services Cyber

Cloud Powered


20


Opportunity Our Engagements

Case Study: Enabling Precision Medicinewith The Cancer Genome Atlas

Enable large-scale, automated solutions to

help combat cancer

Challenges:

Disparate

large data

sets with

few

standards

Existing

data sets

stored at

multiple

locations

NCI Needed:

Secure data

submission

processes

Increased

compute

capacity

Tools to

analyze

large

data

sets

Currently piloting a

Research Based

Computing, Storage,

and Analytic Platform

to bring robust compute

to support precision

medicine

Establish and operate a publicly

available, enterprise-level big data

submission and retrieval system

for cancer researchers across the

world

Provide life-cycle infrastructure

support across 9K+ NCI users

Extended data use with Cloud Pilot

storage and analytics

Leading our clients into the digital future Nation’s leader in cancer research

Classical Services

Cloud Powered


Application Innovation Services Cyber

NIH’s The Cancer Genome Atlas (TCGA) Project –Winner of the “2015 Sammies People’s Choice Award for Service to America”

1,500 scientific publications using TCGA data

150TB of data stored

20TB distributed monthly

2.5PB of data in Google Cloud

Research Support

21


Enlisted by NY State to

develop state-based

exchange

High stakes for the state

given federal exchange

experience

2.1M New Yorkers enrolled as of Feb 2015

Opportunity Our Solution

Built flexible infrastructure that could ramp up and down with volume

demands

Deployed best-in-class Packaged and Open Source software solutions

Employed adaptive iterative processes to meet evolving requirements

Case Study:State-of-the-Art Health Benefits Exchange

Leading our clients into the digital future

Custom Applications Development

ApplicationModernization & Optimization Cyber

Citizen Service

Enablement

Widely recognized as model for health benefits exchange

To support millions of New Yorkers expected to purchase health insurance through the exchange

Delivered a high-profile, innovative solution that adhered to stringent security

(including HIPAA) and architecture needs

90% Enrollees satisfied with coverage

22

Our Commercial Best Practices and Attractive Contract Mix Drive Superior and Sustainable Margins

Fixed Price

Cost Plus

Time &

Materials

FY15 (Percent of total)

Contract mix across sector

Focus on Fixed Price contracts

Sole-sourced incumbent on many large contracts

High concentration of IT services

Industry-leading expertise

Superior execution

Mission-focused employee base

18 19 20 21 27 34

36 20

25 10

25

29

46 60 55

69

48 37

CSRA

Today

42

21

37

23

FY15 Revenue$ millions

The Value of Our Services and Attractive Contract Mix Is Reflected in Our Best-in-Class Financial Results

Adjusted EBITDA$ millions

Government

CSRA

Synergies $50-55M

$5,459

$5,275

$4,997

$4,070

$3,917

$3,354

$2,500

$1,692

$1,389

$909

$524

$441

$673

$297

$312

$245

$129

$183

16.6%

9.9%

8.8%

16.5%

7.6%

9.3%

9.8%

7.6%

13.2%

Adjusted EBITDA

Margin

24

Key Investment Highlights: Taking CSRA Forward


Services Market1



3






25

$345

$437

$467$476

$526

$598

$666 $659

$690 $687

$645

$577 $581

$559

$607 $610

$8

$9

$12

$13

$14

$16

$18

$20

$22

$23 $23

$21

$19 $20$20

$21

$0

$5

$10

$15

$20

$25

$30

$0

$100

$200

$300

$400

$500

$600

$700

$800

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Go

ve

rnm

ent S

erv

ices C

om

bin

ed

Re

ven

ue (U

SD

in b

illion

s)

De

part

men

t of D

efe

nse B

ud

get (

US

D in

billio

ns

)

Base Budget Iraq / Afghanistan Budget Government Services Combined Revenue

Government Services Revenues Returning to Growth After War-Driven Surge Period

Afghanistan Troop Surge

Iraq Troop Surge

26

We Understand the Operating Environments and Pressures That Our Clients Face

Public Sector IT Priorities

Execute in all budget and mission environments

Modernize

legacy IT

systems to

next-genEnsure

integration of

cyber security

across the

board

Enable digital

government

Invest in

healthcare IT

Global instability and security

threats

Broad-based public sector need for efficiency and

effectiveness

Changing demographics

Increasing expectations for web-enabled government

interactions

27

IT Spending Across End Markets Returning to Growth

DoD IT Budget ($B) Non-Defense IT Budget ($B)National Intelligence Budget ($B)

$38.2 $37.3 $37.4 $36.3 $37.3

2012 2013 2014 2015 2016

$53.9

$49.0 $50.5 $49.4

$53.9

2012 2013 2014 2015 2016

$41.2 $41.3

$44.4

$47.9 $49.1

2012 2013 2014 2015 2016

IT Budgets Across All Key Departments Projected to Increase to Support Evolving IT Priorities

28

Increased Focus on Next-Gen Capabilities and SolutionsSpend Shifting to Next-Gen$ billions

$3.1

$3.9

$4.8

$5.8

$2.0$2.3

$2.5$2.8

$9.2$9.7

$10.2$10.7

FY18FY17FY16 FY19

Cloud CyberBig Data

FY18FY17FY16 FY19FY18FY17FY16 FY19

Next-Gen Technology Offerings Such as Big Data, Cloud, and Cyber are

Key Drivers of Demand as Government Agencies Continue to Modernize Their IT Infrastructure

29

CSRA’s Key Priorities for Achieving Disciplined Growth and Continued Industry Leadership

Extending Existing Business Backlog of $14B+ in awarded contracts

As contracts near end, become available for extension or recompete

Increase recompete win rates and earn the right to extend contracts

Driving New Business Pipeline of $23B in qualified new business opportunities

Scale business development for increased submittals

Increase new business win rate

Maintaining Competitive Cost Structure Business development efficiency

Reduced overhead

Flexible service model

Low-cost delivery

30

Uniquely Positioned to Grow Existing Business Through Extensions and Recompetes

Supporting our core business is a total backlog

of $14B+ or roughly 2.6x our FY15 revenue

Multi-year extensions to increase scope and

tenure of current contracts

– Driven by complexity of work and

client satisfaction

Highly successful recompete strategy

– LTM recompete win rate of 88%

Existing Business Provides Strong Foundation for Growth

$14B+Current Backlog

88%LTM Recompete Win Rate

$2.4BBridges and Extensions

Awards since April 2014

31

Robust New Business Pipeline of Actionable andNext-Gen Opportunities

Existing backlog is complemented

by a large qualified opportunity

pipeline

Significant amount of new business

awards pending adjudication

Established competitive intelligence

and price-to-win organization with

strong capture and proposal

support

New business win rate of 25%

New Business Initiatives to Drive Growth

Annual Qualified

New Business

Pipeline

$23B

LTM New

Business

Win Rate

25%

LTM Submittals

$10B

Today

32

Scaling Our New Business Growth Engine: Outlook

Business Development Priorities

New Business Initiatives to Drive Growth

Annual Qualified

New Business

Pipeline

$23B

LTM New

Business

Win Rate

25%

LTM Submittals

$10B

Today

Continue to Scale BD

Engine Through

Innovation and

Increased Efficiency

Apply Greater Rigor and

Discipline to Capture

Activities

Enhance Technical

Qualifications and

Resource Capacity

Annual Qualified

Pipeline

$25B

New Business

Target Win Rate

25%

Submittals

Target

$16B

Anticipated New

Business Awards

$4B

or $800M / year in New Business Revenue

Target

33

Reduced Overhead

Low-Cost Delivery

Low-cost Integrated

Technology Center (ITC) in

Bossier City, LA

World-class program

management

Next-gen skills

Our Competitive Cost Structure Is Driven by Four Main Advantages, Which We Will Maintain Going Forward

Bossier City

-31%

9%

FY15

13%

3+ years of cost

discipline efforts

Continued supply

chain optimization

FY12

SG&A as a % of revenue

300+

1,500

FY18Today

FTEs at ITC

Business Development Efficiency

“Factory-like” approach utilizes

standardized solutions that can be tailored

based on customer unique requirements

Evaluating and working similar bids

together to leverage solutions and

strategies

2,200+ proposal artifacts developed and

accessed in a central repository

Flexible Service Models

• Outcome-based, as-a-service models

• Favorable pay-as-you-go economics

• Multi-channel contracting

• Rate structure aligned with bids

34

Increased Use of Nearshore Low Cost Centers

Infrastructure

42six /

Data Science

Business

Process

Services

Applications

National

Security

Cyber &

Networks

AppWorks

On Demand Cyber

BDaaS

Custom Apps Development

Hybrid Cloud

Agility Platform

Oracle Apps

Federal WAN

Government Storage SaaS

Remote Mgmt

Government UCaaS

SAP Services

Office 365 Implementation

$39M for Building /

Data Center

Quality Jobs Program

(6% Rebate on Payroll)

~$10M for Relocation /

Recruiting

$14M Investment in

Universities

Digital Media Software

Development Incentive

(35% Rebate on Payroll)

LED FastStart

$116M in State Incentives

Bossier City, Louisiana

Secure Federal IT Service Delivery

300+ Employees Today / 1,500 by mid-FY18

Office (96K sq. ft.) / Data Center

Showcase Next-Gen Workplace

Workforce Development

Aggressive Hiring and Relocation

Unique Partnerships with LA Tech and Northwestern University

Integrated Capability Development

Bossier Parish Community College (9,000 students) for Assoc.

Degrees; IT Certification Training

Integrated Technology Center

Offerings

Delivery

Channels

35

Our Engagement

Built state-of-the-art infrastructure monitoring and response

processes with continuous improvements

Cyber security to keep airport data secure

Managing servers and infrastructure in high-security testing facility

Technology to remotely manage equipment and prevent failures

Used low-cost Integrated Technology Center in Bossier City, LA

Bossier City: Ensuring Rapid Threat Response and Functioning Equipment for TSA

Delivering effective client solutions at low cost

No major outages for

several years

Improved threat

response times

Continuous 24x7x365

monitoring of the

worldwide environment

Low-cost solution

Opportunity

TSA needed continuous

operation and rapid

response abilities across

all airports

Critical systems going

down and not being

restored quickly enough

Budget pressures

necessitated a low-cost

solution

36

Our People Are Committed to Our Clients’ Mission Success

People-First Approach Defines Our Culture of Honesty and Service

We Continue to Invest

in Our People and Skills

FY15 increase in

Solution Architects

10%

Professional certifications

14K+Our customers

are deeply

satisfied Top quartile

Net Promoter Scores

64.3High contract recompete /

extension win rate

90%

Our workforce is

devoted to

serviceU.S. Military Veterans

4,700Years of

government service

50+

With bachelor’s degrees

or higher

Security clearances

80%70%We have

industry-leading

talent

Client-focused Leadership Excellence in People and

Program Execution

Aspiration Results

Our values are

Partnering for

AWS training

37

Our Strategic Priorities Will Ensure Our Ongoing Success

Sustain best-in-class margins through our delivery excellence, favorable

contract mix, cost discipline, and synergy realization1

Efficiently allocate capital to quickly de-lever while investing in the

business and returning FCF in dividends and share repurchases

2

Invest in strengthening our industry-leading workforce

4

3

Capitalize on revenue growth opportunities through our broad array of

offerings, deep client understanding, and extensive partnerships

b. Leverage our uniquely diversified customer base to stay aligned with

the government’s funding priorities

a. Lead our clients on their digital journeys

38




39

Financial Value Drivers

Return to revenue growth

Build on solid base of long-term contracts

Further invest in business development capabilities

Cross-sell broad suite of next-gen IT offerings

Leverage expanded contract vehicle portfolio

1 32Sustain best-in-class EBITDA margins

Continue to improve industry-leading contract mix

Build upon existing low-cost delivery methods

Continue to achieve additional back-office process and structural efficiencies

Realize cost synergies from SRA merger

Allocate capital in a disciplined manner

Reinvest in the business

Reduce debt and maintain solid credit profile

Consider small, strategic acquisitions

Return capital to shareholders through dividends and opportunistic share buybacks

4Continue to deliver strong cash flow

Build on track record of converting strong profitability to cash

Optimize tax structure

Manage working capital

Reduce non-project-related capex

40

Return to Revenue Growth1

$14B+ contract backlog

$2.4B in pending adjudications from extensions

and recompetes as of FY16 Q1

10-year average length of top 25 contracts

$23B of qualified new business pipeline as of

FY16 Q1

$6B of pending adjudication from new business

as of FY16 Q1

Commercial next-gen IT capabilities

Full portfolio of contract vehicles

across government

Spending across end markets returning

to growth

Diversity of customer base reduces impact of

priority changes from presidential election

Pipeline

Capabilities

Backlog

Market

Conditions

Targeting 2% - 3% Annual Revenue Growth Through FY19

Health

& Civil

Defense

& Intel

47%53%

Health

& Civil

Defense

& Intel

FY15: $5.5B FY19: $5.8 – $6.0BTarget

41

Operational Efficiencies

Low-Cost Delivery

Expand FTEs by 4x over

3 years in low-cost delivery

center in Bossier City, LA

World-class program

management with carefully

crafted metrics & incentives

Service delivery

standardization

Bossier City

9%

FY15

13%

Continued focus on

back-office efficiency

3+ years cost discipline

efforts led to 31%

SG&A reduction in

CSRA since 2013

Maintain focus on

process and personnel

efficiencyFY12

SG&A as a % of revenue

Profitable Contract Mix Differentiated mix of customers, offerings,

and contract types

Diversification across government

sustains contract mix

Pipeline focused on Fixed Price and T&M

Focus on IT (~75% of revenue) a key

differentiator

Merger Cost Synergies

Estimated EBITDA benefit of

$50M - $55M

Detailed bottoms-up budgets

validate savings

Plan to capture all synergies in

6 - 18 months

Includes facilities, back office, and

go-to-market savings

Sustain Best-in-Class EBITDA Margins2

Business Groups

24%

Corp Costs44%

Facilities16%

Fringe Benefits

16%

Targeting 16% - 17% Adjusted EBITDA Margin

We intend to continue offsetting industry pricing pressures through a combination of direct cost efficiencies and back-office synergies:

Cost

Plus

37%

Time &

Materials

21%

Fixed

Price

42%

42

Continue to Yield Strong Free Cash Flow

Working Capital

Flexibility to pre-pay without penalty

Benefited by debt reduction

R&D credit

Target 39% or less tax rate

Transition to next-gen offerings with a lower capital expenditure profile

Improved collections

More favorable supplier terms

3

FCF 100% or More of Net Income Through FY19

Revenue growth acceleration

Maintain profitable mix of contracts and operational efficiency / low-cost delivery

Capex

Interest

Taxes

EBIT

43

Solid Capital Structure with Ample Liquidity and Flexibility

$300M+ cash at closing

$500M undrawn revolver capacity

$450M receivables financing facility

Annual Free Cash Flow$350M - $400M

$ millions

Target Net Debt / EBITDA of 2.5x or Lower

4

$700 RC

Debt Maturity Profile

$8

TLB

$1,160TLA2

$600TLA1

$700RC

$80 $80

$680

$80

$1,868

$8

$705

2016 2017 2018 2019 2020 2021 2022

$80

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Allocate Capital in a Disciplined Manner

Reduce leverage and maintain solid credit profile

Return capital to shareholders through dividends and opportunistic share buybacks

Consider small acquisitions to strengthen portfolio

DebtRepayment

Capital Return to Shareholders

Targeted Acquisitions

50%

40%

10%

4

Next Three Years % of FCF Target

45

Targeting Industry-Leading Financial Performance

FY19

EBITDA 16% - 17% Margin Cost efficiencies and synergies

Revenue$5.8 - $6.0B

2% - 3% Annual Growth

Generate returns on BD investments and Next-Gen IT Offerings

Book-to-bill ratios > 1.0x

Diluted EPS$2.30 - $2.50

8% - 10% Annual Growth

EBITDA growth

Debt pay down

Share repurchases

Free Cash Flow 100%+ of Net Income Working capital efficiency

Optimize capex

46

CSRA Key Investment Highlights


Services Market1



3






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