Announcement PDF 1H 2024 Results Presentation Andreas Schwer, Managing Director & Chief Executive Officer Clive Cuthell, Chief Financial Officer & Chief Operating Officer 27 August 2024 Approved for release by the Board of Directors Important Notice and Disclaimer CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY This presentation has been prepared as at 27 August 2024. Electro Optic Systems Holdings Limited (EOS) published the 30 June 2024 half year financial statements on 27 August 2024 and this presentation is based on the information therein. Forward-looking Statements This presentation may contain statements that are, or may be deemed to be, forward-looking statements. Such statements can generally be identified by the use of words such as ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘objectives’, ‘outlook’, ‘guidance’, ‘forecast’ and similar expressions. Indications of plans, strategies, management objectives, sales and financial performance are also forward-looking statements. Such statements are not guarantees of future performance, and involve known and unknown risks, uncertainties, assumptions, contingencies and other factors, many of which are outside the control of EOS. No representation is made or will be made that any forward-looking statements will be achieved or will prove to be correct. Typically, EOS and its subsidiaries (together, the Group) operate in an industry where it can take an extended period of time (including up to, and beyond, twelve months) for opportunities to be converted into signed sales contracts. Readers are cautioned not to place undue reliance on forward-looking statements in this presentation and EOS assumes no obligation to update such statements. No representation or warranty, expressed or implied, is made as to the accuracy, reliability, adequacy or completeness of the information contained in this presentation. Past Performance Past performance information in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Information is Not Advice This presentation is not, and is not intended to constitute, financial advice, or an offer or an invitation, solicitation or recommendation to acquire or sell EOS shares or any other financial products in any jurisdiction and is not a prospectus, product disclosure statement, disclosure document or other offering document under Australian law or registration statement under the United States Securities Act of 1933 as amended (Securities Act) or any other law. This presentation also does not form the basis of any contract or commitment to sell or apply for securities in EOS or any of its subsidiaries. It is for information purposes only. EOS does not warrant or represent that the information in this presentation is free from errors, omissions or misrepresentations or is suitable for your intended use. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States or to any 'U.S. persons' (as defined in Regulation S under the Securities Act of 1933). No securities have been, nor will be, registered under the Securities Act or any securities laws of any state or other jurisdiction of the United States and may not be offered, sold, or otherwise transferred except in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and any other applicable securities laws. The information contained in this presentation has been prepared without taking account of any person’s investment objectives, financial situation or particular needs and nothing contained in this presentation constitutes investment, legal, tax or other advice. The information provided in this presentation may not be suitable for your specific needs and should not be relied upon by you in substitution of you obtaining independent advice. Subject to any terms implied by law and which cannot be excluded, EOS accepts no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error in, omission from or misrepresentation in this presentation. 2 2 Important Notice and Disclaimer Presentation of Information All financial information has been prepared in accordance with Australian Accounting Standards. Certain financial data included in this presentation is ‘non IFRS financial information’. The Company believes that this non IFRS financial information provides useful insight in measuring the financial performance and condition of EOS. Readers are cautioned not to place undue reliance on any non IFRS financial information including ratios included in this presentation. These measures have not been subject to audit or review. The financial data in this presentation is provided on a statutory basis but in a non-statutory presentation format (unless otherwise stated). • Currency: all amounts in this presentation are in Australian dollars unless otherwise stated. • Financial years: FY refers to the full year to 31 December, 1H refers to the six months to 30 June, and 2H refers to the six months to 31 December. • Rounding: amounts in this presentation have been rounded to the nearest $0.1m. Any differences between the amounts in this presentation and the financial statements are due to rounding. Totals may not add due to rounding. Product Development This presentation includes information about potential future product developments. Users are cautioned that new product development work can take up to five years and more for new products to be developed and launched. Following the initial commercial launch, it can take a further two to three years and more for newly launched products to reach commercial maturity and achieve meaningful sales revenue. There is no guarantee that it will be possible to achieve product development launch dates or meaningful commercial sales from new products. Third Party Information and Market Data The views expressed in this presentation contain information that has been derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, reliability, adequacy or completeness of the information. This presentation should not be relied upon as a recommendation or forecast by EOS. Market share information is based on management estimates except where explicitly stated otherwise. No Liability or Responsibility The information in this presentation is provided in summary form and is therefore not necessarily complete. To the maximum extent permitted by law, EOS and each of its subsidiaries, affiliates, directors, employees, officers, partners, agents and advisers, and any other person involved in the preparation of this presentation disclaim all liability and responsibility (including without limitation, any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use or reliance on anything contained in, or omitted from, this presentation. EOS accepts no responsibility or obligation to inform you of any matter arising or coming to its notice, after the date of this presentation, which may affect any matter referred to in this presentation. This presentation should be read in conjunction with EOS’ other periodic and continuous disclosure announcements lodged with the ASX. General Information Statements made in this presentation are made only as at the date of this presentation. The information in this presentation should be read in conjunction with EOS’ other periodic and continuous disclosure announcements lodged with ASX. The information in this presentation remains subject to change without notice. Circumstances may change and the contents of this presentation may become outdated as a result. EOS may in its absolute discretion, but without being under any obligation to do so, update or supplement this presentation. 3 3 1H Highlights and Business Update Andreas Schwer, Managing Director & Chief Executive Officer Summary EOS grew revenue by 92% in 1H 2024 and delivered $11.5m Underlying EBITDA1. Securing new orders is the key focus for 2H 2024 Turnaround Continues Record 1H Revenue Positive Underlying EBITDA1 Strong Markets Wider Product & Customer Range Strategic Discipline Key financial outcomes in 1H 2024 include: • Revenue $142.6m up 92% or $68.3m on prior corresponding period • Gross Margin2 44% up 9% on prior corresponding period • Underlying EBITDA1 positive $11.5m up $26.3m on prior corresponding period • Cash received from customers $120.3m down $3.0m on prior corresponding period • Cash Balance $52.2m at 30 June 2024 Growth outlook underpinned by: • Geopolitical uncertainty is creating very supportive market conditions, particularly counter-drone • Wider product & customer base, and continuing European growth • Innovation continues – commercialising existing IP • Continue to seek third party funding support for strategic growth opportunities: • Higher Energy Laser Weapon – negotiations continuing • Space Control – ongoing progress 1. Underlying EBITDA is a non-IFRS measure and comprises net profit after tax, adjusted to exclude tax, net finance costs, depreciation and amortisation and foreign exchange impacts. A reconciliation between the net profit after tax and Underlying EBITDA is set out in the appendix to this presentation. The directors consider it useful as it enables readers to obtain an understanding of results from operations. Underlying EBITDA is unaudited. 2. Gross Margin % represents margin on materials costs and is defined as Revenue less Raw Materials and Changes in inventory work in progress only. Gross Margin % is not audited by the Company's auditors. 5 1H 2024 Highlights In 1H 2024 we grew revenue, developed growth capacity and reduced debt Key Developments in 2024 YTD Jan 24 New Slinger counter-drone contract ($15m) with Diehl Defence in Germany Mar 24 Completed placement and announced SPP (together net $35m) to invest in long lead items and accelerate growth Mar 24 Completed RWS deliveries to Western European Government (A$25m) Apr 24 Repaid $20.5m working capital facility, on schedule, continuing deleveraging Apr 24 New sales contracts including EM Solutions ($19m) & Space Technologies ($5m) signed Apr 24 Established a Laser Innovation Centre in Singapore May 24 Upgraded leadership capabilities, incl in Sales with EVP Defence International Jul 24 New sales contracts including EM Solutions ($4m) & Space Technologies ($9m) signed Jul 24 Secured cannon supply with a 3-year total commitment of approx. US$70m (approx. A$104m) 6 Market Conditions – Geopolitical Backdrop Geopolitical uncertainty continues to create very supportive market conditions Global defence spending increased by 9% to a record US$2.4tn in 2023 Entrenched conflict in Ukraine and broadening conflict Middle East Source: SIPRI Military Expenditure Database, Apr. 2024. Evolving geopolitical situation and increasing tensions between nations in several regions NATO Defence Expenditure annual change (%) Source: NATO Press Release June 2024 7 Market Conditions - Technological Wide-ranging technological shifts in the defence industry are expected to continue THEME DESCRIPTION RECENT MEDIA Low-cost, mass-produced drones Readily available and easy to operate Difficult to detect and defeat with conventional defences Asymmetric conflict – cheap to deploy, expensive to defeat Mass manufactured drones • • • • AI and autonomous swarms • Autonomous swarms of drones function in groups • Communication within swarm allows a cohesive unit operation • Technology can quickly respond to changing battlefield conditions Innovative counterdrone solutions e.g. laser weapons • Drone proliferation creates counter drone demand • Drone innovation drives Counter Drone development • Requires evolution from traditional rocket & missile air defence Space as a contested domain • Space critical to surveillance, navigation & communication • Space capabilities provide an asymmetric military advantage • Protection/Disruption of Space capabilities now seen as critical 8 Recent Product Developments and Growth Opportunities EOS has recently launched several products to capitalise on key macro drivers and enable future growth Forecast Indicative revenue timing * Macro Drivers Product Recent activity C-UAS Autonomy UGV R150 Light-weight System • Formal production launch in 2023 • Suitable for light vehicles • Bids currently submitted in SE Asia and EU NATO Counter-Drone Kinetic System • • • • Economic Large R800 Remote Weapon System • Launched in 2023 • Low-cost and heavy firepower • Negotiations currently underway with potential launch customer 2024-26 C-UAS Integrated CounterDrone Laser Dazzler • Launched in October 2023 • Capable of disrupting incoming drones • Demonstrated at recent 2024 NATO Sandbox event 2025-27 C-UAS Launched “Slinger” in 1H 2023 Proven, world-leading accuracy Evaluation orders including to Diehl Germany Demonstrations underway in N. America and Middle East 2024-25 2024-25 * The global defence industry supports innovation – product development can take five years and more, with commercial launches taking two to three years or more to reach maturity. 9 Drones & Counter-Drone Warfare Global demand for drones and counter-drone solutions is growing rapidly • The rise of drones in modern warfare in recent years is well documented – media attention is expected to continue • Low Cost - Drones provide both state and non-state actors the opportunity to disrupt traditionally more powerful opponents • Autonomous “swarms” of drones in future will provide militaries with a highly adaptable and potentially decisive tool on the battlefield • Existing solutions are expensive & less effective - counterdrone (C-UAS) solutions are either highly costly i.e. missile-based defences or easily thwarted i.e. electronic warfare • “Hard-kill” or “kinetic” counter-drone solutions, like EOS’ Slinger product, are both economical and highly-effective • In the future militaries will likely move to “directed energy” solutions which are likely to prove even more economical on a per-shot basis Source: Armed Conflict Location and Event Data 10 Effective counter-drone strategies require a layered response EOS is developing products that form part of comprehensive, layered, counter-drone systems 0.5km 1km 2km 3km 4km 5km 6km 7km 8km 9km 10km Electronic Warfare (EW) EOS CURRENT FOCUS Remote Weapon System Directed Energy 50-100Kw APKWS (Rocket) SHORAD Missile Rapidly evolving threat technology Group I Group II Group III Key criteria Range Acquisition Cost Accuracy Operating Cost Effectiveness Cost per Drone Kill 11 EOS is focused on organic growth opportunities Growing the order book continues to be our key focus; several opportunities are developing positively; European growth is targeted Markets • Global military spending grew by 9% in 2023 Products • Commercialising existing IP • Key drivers: • Geopolitical tensions • Technology • New products launched: • R150 RWS • R800 RWS • Slinger Counter Drone • Key long term growth areas: • Drone warfare • Unmanned platforms • Target 3rd party dev’t funding: • Directed Energy • Space Control • Aligned to customer needs Sales Capability • New commercial leadership • EVP Defence Australia • EVP Defence International • EOS US CEO • New capability in Europe • EOS • EM Solutions Order Book • Contract backlog: • $567m at Jun 24, (incl. $181m conditional) • Recent wins in 2024 • Working on Ukraine conditional contracts • Focus on growing order book • Ongoing sales work • Ukraine – direct & donors • Europe • Middle East • North America • Australia Traditional sales lead times are 1-3 years - several opportunities continue to develop positively 12 Market Development Update Growing the order book continues to be our key focus; several opportunities are developing positively; European growth is targeted Geography Australia Potential Size (A$m) >100 Maturity Remote Weapon Systems Advanced Contract negotiations continue with Hanwha in relation to the supply of RWS for the Land 400 Phase 3 project. Ukraine ~181 Advanced Work continues with Ukrainian end-users and customers to allow committed orders to be placed under the conditional contracts. Europe 50 - 100 Evaluation Continuing to work on opportunities to leverage demand from European countries for donation to Ukraine. N. America 10 – 50 Evaluation Working with a North American company looking to integrate EOS’ R800 onto Stryker vehicles for potential donation to Ukraine. N. America / Middle East <10 Evaluation Evaluation orders for Slinger product received from customers in North America and Middle East. Preliminary Ongoing interest from European customers for light-weight R150 solution for protection of logistics vehicles. Preliminary Work continues on upcoming bid for follow-on order of next-generation R400 in Middle East. Europe Middle East >100 >500 Note: there is no certainty that any particular outcome or transaction will result from these discussions and negotiations Geography Europe / Middle East Potential Size (A$m) 50 - 100 Maturity High Energy Laser Weapon Advanced • Commercial discussions continued with a number of potential customers for its High Energy Laser Weapon system. • In particular, discussions with two potential international customers are at a more advanced stage. • These discussions are ongoing and could result in new customer agreements being signed during 2024 or later. Space Technologies Australia <10 Evaluation Continue to build on recently announced contracts with ADF Joint Capability Division. EM Solutions Europe / East Asia 10 - 50 Evaluation Opportunities to sell new King Cobra terminal to multiple navies. Maturity Definition • • • Advanced: Contract under negotiation or negotiated and conditional Evaluation: Customer is performing assessments of product and/or discussions are underway Preliminary: Bid being prepared or submitted as part of initial customer discussions 13 Contract Backlog We aim to continue work to diversify the customer base. The key focus is on converting opportunities into contracted orders Secured Contact Backlog – 30 June 2024 Contract Backlog, $m 700 622 600 181 500 567 181 400 300 200 342 100 - Dec-21 312 Dec-22 Secured 441 Dec-23 Conditional on orders Description $m Business RWS 158 Defence Systems Royal Australian Navy 175 EM Solutions Other 53 Total 386 386 Jun-24 • Contract Backlog includes large Middle East contract with ~$46m revenue remaining to earn in 2H 2024 and 2025 • EM Solutions contract with Royal Australian Navy will be realised over next ~5 years • Previously announced conditional Ukraine contracts (~$181m) were conditional on testing & approval and have customary wartime terms (cancellable due to prioritisation/budget): • First demonstration completed successfully during 2023 • Products listed in Approved Goods catalogue • Further demonstrations in Ukraine in 2024 • EOS working with a range of Ukrainian end‐users / customers to allow committed orders to be placed under the conditional contracts 14 1H 2024 Financial Results Clive Cuthell, Chief Financial Officer & Chief Operating Officer 1H 2024 Financial Performance EOS increased Revenue by 92% or $68.3m on 1H 2023 and achieved Underlying EBITDA1 of $11.5m $m 1H 2024 1H 2023 Revenue, $m Var Revenue 142.6 74.3 68.3 Gross Margin % 2 44% 35% 9% Underlying EBITDA1 11.5 (14.8) 26.3 EBIT 9.0 (19.4) 28.4 Finance Costs (12.5) (16.0) 3.5 NPAT (3.5) (32.4) 28.9 • Revenue increased $68.3m (92%) on prior comparable period, with growth across all businesses. This included the acceleration of activity for a key Middle Eastern customer. Given the lumpy nature of EOS’ revenue, half-yearly figures should not be used to imply full year estimates 104.7 114.5 145.0 84.1 75.4 2020 97.8 2021 53.8 2022 H2 H1 142.6 74.3 2023 2024 Underlying EBITDA, $m • Gross Margin %2 (margin on material costs) increased to 44% due to strong markets and pricing 20.5 11.5 • Underlying EBITDA1 increased by $26.3m due to increased revenue and improved gross margin combined with cost discipline • Finance costs were $12.5m (down $3.5m), following principal repayments in September 23 and April 24 -24.3 • Continued progress towards positive Net Profit After Tax - improved by $28.9m on prior year H1 22 -18.7 H2 22 -14.9 H1 23 H2 23 H1 24 1. Underlying EBITDA is a non-IFRS measure and comprises net profit after tax, adjusted to exclude significant items such as tax, net finance costs, depreciation and amortisation and foreign exchange impacts. A reconciliation between the net profit after tax and Underlying EBITDA is set out in the appendix to this presentation. The directors consider it useful as it enables readers to obtain an understanding of results from operations. Underlying EBITDA is not audited by the Company's auditors. 2. Gross Margin % represents margin on materials costs and is defined as Revenue less Raw Materials and Changes in inventory work in progress only. Gross Margin % is not audited by the Company's auditors. 16 1H 2024 Segment Performance Both business segments contributed strong growth to the positive financial performance in 2024 $m 1H 2024 Revenue Defence Systems Underlying EBITDA 1H 2023 Var 101.4 50.7 50.6 5.2 (12.9) 18.1 1 71% of revenue • Revenue increased by 100% on prior corresponding period • Results include sales to customers in the Middle East and Western Europe • Underlying EBITDA (including allocated corporate costs) improved due to revenue growth and improved gross margins $m 1H 2024 1H 2023 Var Revenue 41.2 23.6 17.7 Space Systems Underlying EBITDA1 10.1 1.5 8.6 (incl EM Solutions) • Revenue increased by 75% on prior corresponding period driven by strong sales in our EM Solutions business 29% of revenue • Result included growth in Europe and Australia • Underlying EBITDA (including allocated corporate costs) improved to revenue growth and cost discipline 1. Underlying EBITDA is a non-IFRS measure and comprises net profit after tax, adjusted to exclude significant items such as tax, net finance costs, depreciation and amortization and foreign exchange impacts. A reconciliation between the net profit after tax and Underlying EBITDA is set out in the appendix to this presentation. The directors consider it useful as it enables readers to obtain an understanding of results from operations. Underlying EBITDA is not audited by the Company's auditors. Note: The above analysis does not include unallocated corporate costs. A full reconciliation can be found in the appendix to this presentation 12 17 1H 2024 Cashflow 1H 2024 Cash Flow included interest payments and debt repayment. Operating Cashflows remain lumpy while we diversify $m 1H 2024 1H 2023 • 1H 2024 Operating cash flow includes : Var Receipts from customers 120.3 123.3 (3.0) Payments to suppliers and employees (137.0) (89.1) (47.9) Interest and other costs (13.9) (3.5) (10.4) Operating cash flows (30.6) 30.7 (61.3) Investing cash flows 0.7 (6.1) 6.8 (29.9) 24.6 (54.5) 12.4 (3.9) 16.3 (17.5) 20.8 (38.3) (1.3) (0.4) (0.9) Change in cash balance (18.8) 20.4 (39.2) Free Cash at balance date 52.2 42.0 10.2 Sub total Financing cash flows Net cash flow FX effect Additional Restricted Cash Security Deposits • Receipts from customers of $120.3m – similar to record high prior period. • Payments to suppliers and employees of $137.0m included production during the current period. This production generated revenue and cash receipts in late 2023 & 1H 2024 and more is expected in 2H 2024. • Contract asset has increased by $21.7m – increased working capital investment expected to reduce during 2024 and 2025. • Cash paid for Interest and other costs of finance includes cash paid for interest (capitalised in 2023). • Investing cash flow includes a $8.3m cash inflow from the release of a cash security deposit on performance bonds from a funding provider offset by $6.2m in increased security deposits. • Capital expenditure totaled $1.4m in the period. • Financing cash flow includes a $20.5m debt repayment in Apr 24 and $35.4m raised from the equity capital raising in the period. • Cash balance of $52.2m at 30 June 2024, $10.2m more than at 30 June 2023. 66.3 67.1 (0.8) • In addition, at 30 June 2024 EOS had $66.3m of restricted cash security deposits. 18 Debt Position During 1H 2024 Cash Flows were used to reduce debt levels $m Principal Term Maturity Total Rate Repayment1 Status Working Capital Facility 20.0 12m Sep 23 19% 26.9 REPAID Working Capital Facility 15.0 18m Apr 24 19% 20.5 REPAID Term Loan Facility 35.0 36m Oct 25 26% 52.1 PLANNED TO BE REPAID ON SCHEDULED DATE • Facilities set up in Sep/Oct 2022 with longstanding equity investor WHSP • Borrowing facilities include a 100% make whole clause for prepayment or early repayment 1. The repayment at maturity includes repayment of principal, capitalised interest and fees. 19 Conclusion Growth Strategy EOS is positioned to grow sustainably in the short, medium and longer terms 1-3 Years DEFEND & GROW • Significant organic growth opportunities: • Remote Weapons Systems (RWS) • Counter-Drone Products (specialised RWS) • Naval Satcom (EM Solutions) • Supporting two large strategic opportunities: • Directed Energy • Space Control 2-5 Years NURTURE 3-10 Years SEED Space Control VALUE Directed Energy Counter Drone • Key focus areas: • Commercialising our significant IP assets • Maintaining capital discipline SatCom RWS TIME 21 Future Strategic Growth Opportunities EOS is developing world-leading innovations with large addressable markets and is currently seeking strategic partners High Energy Laser Weapon (HELW) Recent Activity • Access to HELW systems is fast becoming a strategic requirement for all modern militaries • Laser Innovation Centre in Singapore has been established and will be the primary location of future IP development • There is an urgent market need for laser-based drone and missile defense systems • EOS has developed a 36-54kW prototype laser weapon and demonstrated it during August 2023 Space Control Opportunity Recent Activity • EOS has unique advantages in developing counter– satellite capabilities - decades of experience in telescope construction, satellite tracking, laser weapons and adaptive optics • Secured third party funding • Satellites have become a key defence asset for surveillance, navigation and communications • Negotiations with potential customer partner/s to fund further development are in progress • Product development is continuing - pilot demonstration successfully completed • EOS is seeking to develop “soft kill” solutions 22 Summary and Outlook Summary • • • • • Market conditions are very supportive Product range widened and now in-market Significant counter-drone opportunity Discipline will continue – Strategy, Capex, Costs Focus on commercialising strategic IP • • High Energy Laser Weapons and Space Control Disciplined approach – seeking third party funding Outlook • Market conditions are expected to remain supportive for the foreseeable future • Further diversification of the business, with a focus on European markets and US manufacturing • We will monitor outlook and provide regular updates in line with disclosure obligations 23 Appendices Reconciliation of Statutory Profit / (Loss) and Non-GAAP measures 1H 2024 1H 2023 (Loss) for the period (3.5) (32.4) Income tax (benefit) (0.0) (3.0) (Loss) before tax (3.5) (35.4) Finance costs 12.5 16.0 Foreign exchange (gain) (5.1) (2.4) Underlying EBIT (loss) (before impairment and foreign exchange gains) 3.9 (21.8) Depreciation & amortization & other 7.6 7.0 11.5 (14.8) $m Underlying EBITDA gain/(loss) (before impairment and foreign exchange gains) 25 1H 2024 Segment Performance $m Var 1H 2024 1H 2023 Defence 101.4 50.7 50.6 Space (incl. EM Solutions) 41.3 23.6 17.7 142.6 74.3 68.3 Defence 5.2 (12.9) 18.1 Space (incl. EM Solutions) 10.1 1.5 8.6 Unallocated (3.8) (3.5) (0.3) Total 11.5 (14.9) 26.4 Revenue Total Underlying EBITDA Profit/(Loss) 26 Remote Weapon Systems Product Range EOS is developing a wider range of RWS products to meet evolving needs Sensor Unit Truck Ultralight RWS R150 Light RWS R400 Common Range of Platforms and Applications Protected UGV Vehicle Medium RWS R600 Heavy RWS R800 Light Turret T1600 Common Control Interfaces Multi-Mission Sensors MLRS CUAS 27 R800 Heavy Calibre System EOS recently launched a heavy calibre R800 system, with an integrated counter-drone laser dazzler Product • Turret-level, heavy-calibre hitting lethality • Lightweight system • Operated remotely Wide range of weapons, including: • 1 x Javelin or 2 x Spike (pod) • Mk44S 30 x 173mm cannon • 7.62 mm machine gun or chain gun • Counter-Drone Laser Dazzler Market • Growing demand • Low cost/weight vs armoured turret 28 R150 Remote Weapon System Lightest system on the market capable of deploying 12.7mm/14.5mm heavy machine guns Product • Ultra lightweight system • Under 150kg with 12.7mm machine gun and full ammunition load • Can be operated remotely • Non-ITAR Wide Range of Weapons, including: • 14.5 mm and 12.7 mm heavy machine guns • 7.62 mm and 5.56 mm light machine guns • APKWS laser guided rocket launcher • Drone defeat at 4500m Market • Growing demand for lightweight protection systems • Deployed to Ukraine in CUAS configuration 29 Slinger