ELSIGHT LIMITED — Capital/Financing Update 2020

Oct 7, 2020

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ASX Announcement

8 October 2020

Elsight enters into important repeat order agreement with leading cash-in-transit and security company

Highlights

• During early and later parts of 2019, Elsight conducted two POCs with a leading cash-in-transit and security company.

• On March 12, 2020, as the first COVID-19 wave began, a frame agreement with one of the largest global cash-in-transit and security companies was signed to fit their armoured trucks with our solution.

• On June 14, 2020, as the first total lockdown of COVID19 started to lift, Elsight received an initial test order value at around USD$54,000 . The low amount of this initial order did not warrant an announcement.

• Yesterday we received the first repeat order of US$133,000 for a total of approx. USD $190,000 This is in addition to an annual recurring revenue expected to result from the accompanying SLA.

• The agreement followed completion of a successful POC.

8 October 2020 – Elsight Limited (ASX: ELS) (‘Elsight Ltd, ‘Elsight’), an ASX-listed company that develops advanced communication technologies for real-time data, video, and audio transmission over cellular networks in mission-critical environments, announced today that it signed a new contract with one of the largest companies for the transportation of secured cash and valuables worldwide ( ‘the Company’ ) in which it was agreed that every one of their armoured vehicles in one strategic country would be fitted with Elsight’s leading transportation solution. In addition, Elsight had received the first material purchase order to the value of USD $54,000 from them. Today, Elsight received a repeat order bringing the total order size to approx. USD $190,000 . These orders came from a single country out of the many where the Company currently operates.

Following the extensive (4-6 months) pilots, in two continents, during 2019 trial that successfully ended just as the pandemic started, Elsight received an initial order from the Company to equip their secured, moneytransporting armoured vehicles with Elsight’s logistical transportation solution. The June 14 purchase order was among the first orders that the Company’s international HQ approved post first wave of COVID-19. The installation of Elsight’s solution is enabling the Company to further secure the transfer of cash and other valuable goods. In addition to revenue from the sale, recurring revenues are expected to result from the accompanying SLA, indicating a movement to the next level of sales activity for Elsight.

The COVID19 pandemic resulted in an initial negative economic impact worldwide, on society as a whole and on criminal activity. As a result, an increase in cash-in-transit theft and hijacking attempts is expected. Leading companies are continuing to strengthen their capabilities to successfully address this expected wave of criminal activity and Elsight’s technology is proving to be a much-desired asset in this effort and as an adjunct to existing security measures. This first order is part of a new trend to increase the security in the transfer of cash, diamonds and other valuable goods in bullet-resistant armoured trucks. The Company operates and

Elsight Limited ACN 616 435 753 T: +61 8 8689 9997 | A: C/- Mertons, Level 7, 330 Collins Street, Melbourne VIC 3000

serves customers on a worldwide basis. Partnering with the Company is a positive indication to a bright and prosperous future for Elsight.

Importantly, this deal represents additional market validation for Elsight’s leading logistical transportation solutions for the transfer of cash and other valuable goods. Elsight’s product offering is ideally suited to companies who seek to optimise and enhance the layers of security protecting their vehicles and safeguarding their contents. The need to secure our technology in every single armoured vehicle will grow as there has been a surge in crime worldwide.

Upon receipt of the purchase order Yoav Amitai, CEO of Elsight, said: “We are very excited about this opportunity to continue to develop this important partnership. There are numerous communications and connectivity challenges inherent in the management of armored car fleets and security vehicles, and Elsight’s technology is engineered to provide efficient and optimal solutions to those challenges. We look forward to continuing to develop this relationship in the weeks and months ahead and demonstrating the advantages of our cutting-edge technology in this space”

Despite trading restrictions imposed by COVID-restrictions, shipping and manufacturing challenges, the sales process at Elsight is showing positive signs and increasing. With the gradual opening of worldwide borders POCs are becoming more manageable as we continue to focus on ramping up our manufacturing capabilities to meet increased demand.

Authorised for release by the Board of Directors of Elsight Limited.

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For more information, please contact:

Corporate, Business, and Media Enquiries

Howard Digby Elsight Limited T: +61 434 987 750 E: howarddigby@gmail.com

About Elsight

Elsight (www.elsight.com) is a solution provider of ground-breaking hybrid video and data transport services (on-the-move or fixed) for large Safe-City projects, sensitive facilities management, and surveillance and protective activities. The platform supports data and video capturing, recording, and highly secured transmission against data and video interception and hacking. Elsight ’s platform was designed to address the most demanding requirements of Special Forces across enemy lines and sophisticated intelligence organisations. These systems underwent the most rigorous testing in combat situations as well as extensive testing by the most demanding laboratories. As a result, they present an unmatched level of reliability, lowest latency, and highest adaptive bandwidth over cellular networks that enables HD and 4K TV transmission quality, with “never-fail” redundancy and much more. For the first time they offer strict military requirements

Elsight Limited ACN 616 435 753 T: +61 8 8689 9997 | A: C/- Mertons, Level 7, 330 Collins Street, Melbourne VIC 3000

for civil usage. Elsight ’s customers range from defence and homeland security to industrial security, broadcasting, first responders and healthcare.

Elsight Limited ACN 616 435 753

T: +61 8 8689 9997 | A: C/- Mertons, Level 7, 330 Collins Street, Melbourne VIC 3000