ELSIGHT LIMITED — Capital/Financing Update 2023

Dec 11, 2023

12 December 2023

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ASX Announcement

Elsight's operations and business spiraled upwards over the past month with another US$350,000 in orders, including a repeat order from DroneUp

Key Highlights:

• Elsight operations and business have shown improvement since October 2023.

• After October’s increase, the Company is enjoying a second consecutive revenue increase of more than US$350,000 (~A$533,000) in orders over the past month.

• Orders are coming from new and existing partners, including DroneUp, most of them beyond the Company’s original business plan.

Elsight Limited (ASX: ELS) (‘Elsight Ltd, ‘Elsight’ or ‘the Company’) , the recognised industry leader in drone connectivity solutions, advises that its Q4/2023 operations continue showing an increase in revenues, month after month despite the regional war.

Since the Company’s last Market Notification on November 6, 2023, the Company has received an additional US$350,000 in orders from new and existing Design-Win partners, including DroneUp, a leading autonomous drone delivery company based in the U.S. Almost all these newly ordered Halo units were on top of Elsight’s current business pipeline.

This current increase comes on top of last month’s US$250,000. Since October 7[th] , the Company has shipped Halo units to a value of over US$600,000. The Company is anticipating that this positive trend will continue in the coming months.

“The value of the Elsight Connection Confidence solutions has not only been proven on an unprecedented level but in a wider range of applications for both civilian and military scenarios”, says Yoav Amitai, Elsight CEO, “Our Design-Win strategy was put into practice at the optimal market inflection point demonstrated repeatedly over the past few weeks and continues to ring true. The world is increasingly more aware of the effective and reliable use of autonomous machines and vehicles, particularly when connectivity is missioncritical”.

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 Sid Maher Elsight Limited éthica Capital T: +61 434 987 750 M: +61 401 704 384 E: howarddigby@elsight.com E: Sid.maher@colelawson.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.