Leonardo DRS Adopts New Code of Ethics and Business Conduct

What Happened

• Leonardo DRS, Inc. announced that on July 15, 2026 its Board of Directors, following a recommendation from the Nominating and Corporate Governance Committee, approved and adopted a new Code of Ethics and Business Conduct. The new Code becomes effective July 17, 2026 and replaces the company’s prior Code in its entirety. The 8-K was signed by Mark A. Dorfman, Executive VP, General Counsel and Secretary, on July 17, 2026.

Key Details

• The new Code applies to all directors, officers and employees of Leonardo DRS and its subsidiaries, explicitly including the principal executive officer, principal financial officer and principal accounting officer.
• Adoption was intended to update the prior Code to reflect current compliance best practices, streamline and clarify provisions, reduce complexity and improve readability; changes described as non‑substantive, administrative and stylistic.
• The Board’s adoption did not grant any explicit or implicit waivers to directors, officers or employees with respect to the prior Code.
• The full text of the new Code is made available on the company’s Investor Relations — Governance website (not incorporated by reference in the 8‑K).

Why It Matters

• For investors, this filing signals a corporate governance update focused on clarifying and modernizing the company’s compliance policies rather than a change in leadership or any granted exemptions.
• A clearer, updated Code can strengthen internal controls and compliance practices, which may reduce legal and operational risk over time; the 8‑K provides the effective date and full text for review.