The Boeing Company and Subsidiaries

Reconciliation of Non-GAAP Measures

Core Operating Earnings, Core Operating Margin and Core Earnings Per Share

(Unaudited)

The tables provided below reconcile the non-GAAP financial measures core operating earnings, core operating margin and core earnings per share with the most directly comparable GAAP financial measures, earnings from operations, operating margin and diluted earnings per share. See page 6 of this release for additional information on the use of these non-GAAP financial measures.

First Quarter

Guidance

2015

2015

Revenues

$22,149

$20,465

GAAP Earnings From Operations

$2,019

$1,542

GAAP Operating Margin

9.1%

7.5%

Unallocated Pension/Postretirement Expense

$113

$553

$110

Core Operating Earnings (non-GAAP)

$2,132

$2,095

Core Operating Margin (non-GAAP)

9.6%

10.2%

Increase/(Decrease) in GAAP Earnings From Operations

31%

Increase/(Decrease) in Core Operating Earnings (non-GAAP)

2%

GAAP Diluted Earnings Per Share

$1.87

$1.28

$8.10 - $8.30

Unallocated Pension/Postretirement Expense¹

$0.10

$0.48

$0.10

Core Earnings Per Share (non-GAAP)

$1.97

$1.76

$8.20 - $8.40

Weighted Average Diluted Shares (millions)

714.2

754.1

695 - 700

Increase/(Decrease) in GAAP Earnings Per Share

46%

Increase/(Decrease) in Core Earnings Per Share (non-GAAP)

12%