56 TEXTRON 2022 PROXY STATEMENT SHAREHOLDER PROPOSAL ON SPECIAL MEETINGS Mr. Kenneth Steiner of 14 Stoner Ave., 2M, Great Neck, NY 11021, owner of at least 500 shares of our common stock, has given notice of his designation of John Chevedden as his proxy to introduce the following resolution at the Annual Meeting. The shareholder proposal and supporting statement appear as received by us. Following the shareholder proposal is our response. PROPOSAL 4 – SPECIAL SHAREHOLDER MEETING IMPROVEMENT Shareholders ask our board to take the steps necessary to amend the appropriate company governing documents to give the owners of a combined 10% of our outstanding common stock the power to call a special shareowner meeting. It is important to adopt this proposal because all shares not held for one continuous year are now 100% disqualified from formally participating in the call for a special shareholder meeting. Under this ill-conceived Textron rule management discriminates against shareholders who bought Textron stock during the past 12 months. Under the current rule potential shareholders with new ideas for management are thus discouraged from buying our stock because they will not be full-fledged shareholders until a year later. Plus we do not have an independent board chairman which is another hindrance that can make our management more likely to resist new ideas. It currently takes 25% of shares that are owned for more than one continuous full year to call a special shareholder meeting. The owners of 25% of shares held for more than a continuous year could determine that they own 40% of our stock when length of stock ownership is factored out. Thus for practical purposes we may be left with a 40% stock ownership threshold to call a special shareholder meeting and no right to act by written consent. A 40% stock ownership threshold is nothing for management to brag about. It is also important to adopt this proposal to make up for our complete lack of a shareholder right to act by written consent. Many companies provide for a shareholder right to call a special shareholder meeting and a shareholder right to act by written consent. Textron shareholders gave 44%-support to a shareholder right to act by written consent at the 2019 annual meeting. This 44%-support was likely 51% support from the shares that have access to independent proxy voting advice. Special meetings allow shareholders to vote on important matters, such as electing new directors with special expertise or independence that may be lacking in our current or future directors as was the case with the 3 new Exxon directors supported by the Engine No. 1 hedge fund at the 2021 Exxon annual meeting. A reasonable shareholder right to call for a special shareholder meeting can make shareholder engagement meaningful. If management is insincere in its shareholder engagement, a right for shareholders to call for a special meeting can make management think twice about insincerity. Our bylaws give no assurance that engagement with shareholders will continue. A more reasonable shareholder right to call for a special shareholder meeting will help ensure that management engages with shareholders in good faith because shareholders will have a viable Plan B as an alternative. Please vote yes: SPECIAL SHAREHOLDER MEETING IMPROVEMENT – PROPOSAL 4
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