Nordic Unmanned ASA

Regulatory Filings • Feb 9, 2023

Nordic Unmanned subsequent offering - Invitation to webcast

Nordic Unmanned subsequent offering - Invitation to webcast

9.2.2023 07:00:00 CET | Nordic Unmanned | Non-regulatory press releases

In December 2022, the company raised NOK 70 million through a private placement

for investments in assets related to the delivery of its backlog, working

capital needs until full contract production in mid-2023, and to reduce

short-term debt. On 1 February 2023, the company launched the prospectus for a

subsequent offering of up to NOK 50 million directed toward eligible

shareholders. In order to update the eligible shareholders in the subsequent

offering, the Company hereby invites to a live webcast with CEO Knut Roar Wiig

on 10 February 2023 at 1200 CET.

Register for the webcast here:

https://register.gotowebinar.com/register/6390517040662316885

Additional information:

Nordic Unmanned serves the drone market through two main business models, namely

operator of European advanced drone services and sales of proprietary drone

technology as original equipment manufacturer (OEM). In addition, the company

has a leading position in emission measurement and verifications services in the

Norwegian market through its NUMar business unit and Ecoxy AS.

Nordic Unmanned is a provider of unmanned airborne maritime surveillance

services to government customers in Europe, operating fixed wing and rotary

drone systems Beyond Visual Line of Sight (BVLOS). Total flight hours in 2022

were approximately 3000 hours, twice the activity level of 2021, using large

drone systems with state-of-the-art sensors for pollution monitoring, fishery

control, maritime and border surveillance. This year, the company will also

commence operations and record regular flight hours from remote operations of

drone-in-a-box. With current framework contracts and known opportunities, total

BVLOS flight hours are set to double again in 2023.

Nordic Unmanned's OEM business experienced significant traction across its

product families in 2022. Germany-based subsidiary AirRobot is expected to start

delivery of the first batch of the AR-100H small reconnaissance drone system to

the German Bundeswehr under the MIKADO II program in Q2 2023, following German

military airworthiness certification. Once completed, the airworthiness

certification will be the first of its kind for this drone type in NATO. The

sensor and sensor software developed for the AR-100H is also currently being

prepared for production for delivery to Lockheed Martin UK Ltd. The sensor will

be integrated with the Lockheed Martin Indago 4 drone for delivery under the

10-year TIQUILA drone program for the UK Ministry of Defense. The first order

was announced on 21 December 2022, and follow-on orders are expected in the

coming months.

Majority-owned, Belgium-based, DroneMatrix N.V. is expected to complete the

rollout of 6 YACOB drone-in-a-box systems for Port of Antwerp in Q1 2023. In

addition, the Belgian rail infrastructure company Infrabel recently signed a

9-year framework contract for 4 YACOB systems to be used for automated

surveillance of rail assets. The recent orders positions DroneMatrix as a leader

in the emerging European drone-in-a-box market.

Landmark contracts awarded in H2 2022 adds to an already solid backlog and lay

the foundation for the next phase of development for the group. While drone

flight services have been the dominant source of revenue historically, the sale

of proprietary drone platforms and technology will make a significant

contribution this year.

CONTACTS

* Knut Roar Wiig, CEO, +47 92 66 66 59, krw@nordicunmanned.com

* Trond Østerhus, CFO, +47 95 99 08 79, to@nordicunmanned.com

ABOUT NORDIC UNMANNED

Nordic Unmanned is a global provider of high-end drone and data capture products

and services, has operational experience from many countries across several

continents, and holds industry-leading expertise, Nordic Unmanned supports

governmental and industrial clients in the adaption and deployment of unmanned

systems and services.

Founded in Norway in 2014, the Group has offices in Sandnes (NO), Molde (NO),

Odense (DK), Cranfield (UK), Hasselt (BE), Arnsberg (GER), and Baltimore (US).

Nordic Unmanned has one of the world's most comprehensive permits to fly beyond

visual line of sight (BVLOS), through its EASA-approved Light UAS operator

Certificate (LUC).

The Group is an Original Equipment Manufacturer (OEM) for the drone product

lines Staaker, AirRobot, and DroneMatrix, and is also world-leading in the

collection of vessel emission data. It is ISO 9001-2015 and AS9100 certified for

the operation, maintenance, sale, design, development, and production of

unmanned systems and sensor technology.

For more information visit - https://nordicunmanned.com/

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847587/2088/2781/Download%20announcement

%20as%20PDF.pdf