Nordic Unmanned ASA

Capital/Financing Update • Sep 7, 2022

Nordic Unmanned secures EUR 3.5 million in project financing for AirRobot's MIKADO contract

Nordic Unmanned secures EUR 3.5 million in project financing for AirRobot's MIKADO contract

7.9.2022 11:57:04 CEST | Nordic Unmanned | Additional regulated information

required to be disclosed under the laws of a member state

Nordic Unmanned today announced that its subsidiary AirRobot GmbH & Co. KG has

secured a credit facility of EUR 3.5 million as project financing for the Mikado

contract to supply the Bundeswehr (German Armed Forces) with 145 of its novel

and modular AR100-H drone systems.

The credit facility has a positive liquidity effect for the Nordic Unmanned

group following significant cash outlays related to procurement of parts and

development in the project. All critical components for the production of the

145 drone systems have been purchased already, and the credit facility has been

a project milestone since the award of the MIKADO contract in May 2022.The

project is moving forward according to plan and first major revenue effect of

the contract will start in the third quarter 2022.

"We are happy to secure financing for the Mikado project. This is a breakthrough

contract for AirRobot and the AR100-H drone system, and we are very satisfied

that the timeline and milestones are being met. We believe other opportunities

will arise in Germany and other NATO countries as a result of the quality stamp

this contract gives us as the maturity of the contract is increasing," said CEO

of Nordic Unmanned Knut Roar Wiig.

The AR100-H system is a small foldable drone with modular construction. All

relevant components can be replaced in a few simple steps without using tools.

It is a flexible, low-weight, low-noise drone system developed with the armed

forces and special police forces in mind. The drone systems contain all required

equipment for a modern deployed soldier to gain situational awareness day and

night in all kinds of weather. "Mikado" (Mikroaufklärungsdrohne) is a local area

micro-reconnaissance drone. The system is based on the 24 000+ flights and

operational experience of the legacy AR100-B, which is still in service with the

German Armed Forces.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

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

ABOUT NORDIC UNMANNED

Nordic Unmanned is a global leader of high-end products and services related to

drones and data capture. Through worldwide operational experience and

industry-leading expertise, Nordic Unmanned supports large governmental and

industrial clients in the adaption of unmanned systems and services.

Founded in 2014, the Group has offices in Sandnes, Molde, Odense (DK), Cranfield

(UK), Hasselt (BE), Arnsberg (GER) and Baltimore (US) and has quickly become one

of the leading providers of unmanned systems and services, with operations

across Europe. Nordic Unmanned has one of the world's most comprehensive permits

to fly beyond visual line of sight (BVLOS), through the EASA approved Light UAS

operator Certificate (LUC). The Group is OEM for the drone products 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/