V2X, Inc.

There have been no material changes from the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, except for the following change related to our large contracts from our prior disclosure included in our Quarterly Reports on Form 10-Q for the quarters ended April 3, 2026, and July 3, 2026:

We derive a significant portion of our revenue from a concentrated number of large contracts, and the loss or material reduction of any of these contracts could have a material adverse effect on our results of operations and cash flows.

We have several large contracts under which we provide global training, mission readiness, and aerospace services that individually generate annual revenue of more than $150 million. The loss or material reduction of any of these contracts could have a material adverse effect on our revenue, results of operations and cash flows.

Revenue from our largest contract, the Kuwait Task Order under the LOGCAP V contract vehicle amounted to approximately $441.6 million, or 9.9% of our revenue for the year ended December 31, 2025. On May 12, 2026, the U.S. Department of the Army notified us of its decision to reduce the scope of work being performed under this task order and to extend the contract with respect to the revised scope for an additional six months to December 31, 2026, for $22.6 million. As a result of this modification, we reduced our backlog by $414.6 million during the quarter ended July 3, 2026. While management does not currently expect the reduction in scope of the LOGCAP V - Kuwait Task Order to have a material adverse effect on our financial condition or results of operations, there can be no assurance that such reduction will not have a material adverse effect on us in the future. For further discussion, see Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations - Significant Contractsin this Quarterly Report on Form 10-Q.