ELSIGHT LIMITED — Capital/Financing Update 2024

May 26, 2024

ASX Announcement

27 May 2024

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Elsight’s Halo is selected by ACSL, Japan’s Largest Drone Manufacturer, as its BVLOS Communications Platform in its Drones for Logistic Applications

Key Highlights:

• Largest Japanese drone manufacturer and logistics drone company ACSL confirms that Elsight’s Halo strengthens its LTE communications connectivity.

• ACSL’s decision opens new markets for autonomous drones to gain Beyond Visual Line-ofSight (BVLOS) capabilities with Elsight’s Halo.

Elsight Limited (ASX: ELS) (Elsight or the Company) , the carrier-agnostic, AI-powered connectivity solutions company, is pleased to announce that together with its new regional partner Navicom Aviation, Elsight’s Halo connectivity platform was selected by ACSL, Japan’s largest drone manufacturer to strengthen its drones’ LTE communications and overcome the obstacles in flying over Japan’s mountainous terrain, thereby facilitating drone logistics and opening up new markets for autonomous drones.

This new Design-Win marks an important milestone for Elsight in penetrating Japan and the APAC region. After extensive tests and integrations, ACSL will now start offering its drones with the Halo onboard for BVLOS operations.

Elsight’s Halo solving the uncrewed systems communications issue in Japan

Elsight’s Halo is an AI-based connectivity platform designed specifically for drone flights beyond the visual line-of-sight, capable of integrating LTE, 5G, and satellite communications. Until now, although Japan welcomes the use of drones in many sectors, particularly in logistics and defence, the stability of cellular communication connections, which is necessary for long-distance flights beyond visual line-ofsight, has been a difficult barrier to overcome due the country’s hilly terrain and remote islands.

The Company sees a win-win in the combined facts that Halo was onboard the world's first full FAA Type Certificate for BVLOS Data Collection flights and its inspiration to penetrate the HLS market - together with the fact that ACSL was the first drone manufacturer to be approved as a full member of the Japan Defense Equipment Industries Association (JADI).

This is another strong example of the importance of our Design-Win strategy that will assure the Company’s organic growth within the drone Industry.

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ACSL CEO, Satoshi Washiya, commented, “As the leading company of domestic drones, ACSL has been promoting the expansion of drone use in Japan in various fields. We are very pleased to collaborate with Elsight and its innovative technology to ensure the stability of the communication environment, which is one of the most important issues in the logistics field. Elsight's products have a track record of being adopted in logistics drones in various countries, and we believe that by improving the quality of our logistics drones, we can expand the areas where drones can be used and contribute to promoting the social implementation of drones in the logistics field in Japan.”

Koji Hiratsuka, President of Navicom Aviation commented, “The main challenge for drone large market adoption has been the hilly terrain in Japan. Our partnership with Elsight has been an excellent technology and business fit with our region’s requirements. Seeing the success with ACSL is the sign of market acceptance of logistic applications from deliveries to first responders like in disaster management and recovery. We are very excited by this achievement with Elsight.”

“Elsight is thrilled about working with ACSL through our partner, Navicom Aviation, as this opens another promising market for drones and other autonomous systems to gain beyond the visual line-ofsight (BVLOS) capabilities with our Halo solution. It is also important to note that this is Elsight’s first deal through a strong channel partner in Asia, proving the demand for robust connectivity in the region and the autonomous eco-system’s acceptance of this critical component as an industry driver,” said Yoav Amitai, CEO of Elsight.

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

- ENDS -

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

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About ACSL, Inc.

ACSL https://www.acsl.co.jp/ is developing domestic industrial drones to realize labor-saving and automation of existing industrial operations, and in particular, it provides cutting-edge autonomous control technology equipped with image processing and AI edge computing technology, as well as industrial drones equipped with the same technology. These drones have already been adopted in a variety of fields, including infrastructure inspection, postal and logistics, and disaster prevention.

About Navicom Aviation Co., Ltd.

Navicom Aviation https://www.n-aviation.com/eng/ has developed a mapping system for the Japanese aviation market and is expanding into the Asian region. The mapping system, based on Iridium satellite communications, is used by government agencies that play a central role in the country. The National Police Agency , the National Police Agency, the Fire and Aviation Corps, the Self-Defense Forces, other private businesses, and private airlines are the main customers.

Elsight (ASX:ELS)

Elsight’s (www.elsight.com) flagship product, the Halo, uses AI-based multi-link bonding to provide the most robust connectivity for drones and other unmanned systems. By adding cellular communications aggregated with satellite and RF communications, the Halo is 99.99% reliable and cyber secured. With options for less than a 100-gram card or a boxed ground version, the Halo provides continuous connectivity even in the most challenging areas for stationary, portable, or actively mobile situational requirements. Elsight’s products serve many vertical markets leveraging UAV and UAS technologies including the military, HLS, public safety, delivery, medical, oil and gas, utilities, inspections, surveillance and others. Elsight was founded in 2009.