ELSIGHT LIMITED — Capital/Financing Update 2022

Aug 16, 2022

17 August 2022

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ASX Announcement

Repeat ‘Halo’ order received from Air Methods’ subsidiary – Spright

Key Highlights:

• Repeat ‘Halo’ order received from Spright following the multi-year agreement announced on June 30[th] , 2022.

• Order consists of both upfront hardware revenue as well as recurring software revenues with further orders expected over 2H calendar 2022.

• Another validation to the Design-Win strategy that promotes organic growth within the industry with minimal further sales effort or cost to the Company.

Elsight Limited (ASX: ELS) (‘Elsight Ltd, ‘Elsight’ or ‘the Company’) , the recognised industry leader in drone connectivity solutions, is pleased to announce a repeat ‘Halo’ order from Air Methods’ subsidiary – Spright (‘Spright’) , a leading US-based complete drones services provider.

Air Methods is a privately owned, leading provider of air medical services in North America. The primary focus of Air Methods is the air medical division, which provides emergency medical services to between 70,000 and 100,000 patients every year across 48 states in North America and Haiti. Spright is the wholly owned drone division of Air Methods and was created to help solve many of the toughest time sensitive challenges facing health services for communities across North America.

This is the second commercial order for ‘Halo’ units received in the past 45 days from Spright under the five-year agreement announced on 30 June 2022. Similar to the first order from Spright, this order consists of both upfront hardware revenue as well as recurring Elsight cloud and SLA revenues.

As previously announced, Elsight has been chosen as the reliable link provider on all of Spright’s different manned and unmanned vehicle platforms. This order is to provide reliable connectivity for Spright’s manned vehicles.

The commercial value of this order is approximately US$85,000 and the Company expects further orders will be received from Spright over the remainder of 2022 as they continue to expand their drone network in the US and in Europe.

The embryonic drone market is rapidly developing and providing a number of commercial opportunities. Elsight’s Design Win strategy ensures the Company is well positioned to grow organically with the market with minimal further sales effort or cost. Elsight currently has more than 60 Design Win partners globally at various stages of development, ranging from the testing phase through to implementation and service launch.

Elsight CEO Yoav Amitai commented on Spright’s decision to choose Elsight:

“This repeat order from Spright confirms the compelling value of ‘Halo’ as the ultimate connectivity solution for our customers. We are delighted to continue this close partnership with Spright as they use the ‘Halo’ to provide an improved range of services for their customers.

“This repeated order that required minimum to no intervention from our sales team, is another strong validation of our ‘Design Win’ strategy and its enormous power as a growth engine for the Company.

“The flexibility inherent in the industry-agnostic ‘Halo’ means the various use cases being fielded by Spright will all be supported. We look forward to seeing Spright continuing to expand across the United States and into Europe, building a long-term positive relationship between Elsight and Spright”.

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

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For more information, please contact:

Corporate & Business Enquiries Media Enquiries Howard Digby Justin Kelly Elsight Limited Media + Capital Partners T: +61 434 987 750 M: +61 408 215 858 E: howarddigby@elsight.com E: justin.kelly@mcpartners.com.au

About Elsight

Elsight (ASX:ELS) (www.elsight.com) Elsight delivers Absolute Connection with 24/7 Confidence. Our proprietary bonding technology incorporates both software and hardware elements to deliver extremely reliable, secure, high bandwidth, real-time connectivity - even in the most challenging areas for stationary, portable, or actively mobile situational requirements.