ELSIGHT LIMITED — Capital/Financing Update 2026

Jan 1, 2026

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ASX Announcement

2 January 2026

After Extensive Development, Elsight has Delivered its First Aura Platform to a Leading Defence Contractor for the large Project Announced on 25 September 2024

Elsight (ELS) Reports Strong 2025 Year-End Results, Building Significant Momentum Towards a Great 2026

Key Highlights:

• Delivery of the first batch of units has commenced following completion of the development and testing phase for the program announced on 25 September 2024

• Aura is the newest platform, designed to support both uncrewed systems and soldier-level communications, expanding addressable defence markets and diversifying the Company’s offering

• This milestone marks the transition from R&D and testing, and into production and delivery phase

• Program remains strategically important, with further phases expected as end-user requirements evolve

Additionally:

• U.S. expansion underway with the appointment of two senior sales and business development executives

• Elsight is well positioned to operate within the evolving U.S. regulatory framework, including

requirements introduced under the NDAA FY26

Elsight Limited (ASX: ELS) (“Elsight” or “the Company”), the carrier-agnostic, multi-path connectivity solutions company, is pleased to provide an update on the strategic development program announced on 25 September 2024 with a leading defence prime contractor. This agreement expands the Company’s forward order visibility into CY2026 and reflects the broadening adoption of the Company’s solutions across multiple defence and commercial programs globally.

In addition to uncrewed systems applications, the newly developed communications device (“ Aura ”) has been designed with the flexibility to support dismounted and soldier-level communications use cases. This significantly expands the potential addressable market beyond Elsight’s current core unmanned systems markets and opens additional defence and security application pathways.

The program was structured to progress through defined development, validation, and delivery milestones, with this stage marking the transition from development into production. Following the completion of the development and qualification process, Elsight has now commenced delivery of the initial batch of units ordered under the first phase of the program. These deliveries represent the first operational delivery of the newly developed communications device, Aura .

As previously noted, and being an OEM component in a much larger system, the program is expected to evolve over time as the complete system is going through final extensive integration

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and refining, and deployment plans mature. The Company sees this program as a strategically important opportunity. As initially announced, this deployment was planned over the next 1-2 years. Therefore, visibility on timing, scale, and other commercial parameters remains subject to broader program dynamics during this period.

Elsight continues to work closely with the customer as the program progresses and will provide further updates to the market in accordance with its ongoing orders and disclosure obligations.

U.S. Expansion and Commercial Execution

As part of its ongoing strategy to expand its on-the-ground presence in the United States, Elsight has signed two senior sales and business development executives who will begin working in January 2026. Both appointments bring extensive experience and working contacts with U.S. Department of Defence programs, including backgrounds in special forces units and proven track records in supporting U.S. government and defence procurement processes.

The Company expects these executives to accelerate the conversion of existing U.S. opportunities already in the pipeline, while also generating new opportunities across defence and government channels.

This expansion reflects the Company’s increasing focus on the U.S. market, which remains a key strategic growth region for Elsight’s defence and uncrewed systems solutions.

U.S. Regulatory Environment and NDAA FY26

The Company is aware of recent market commentary regarding proposed changes introduced as part of the U.S. National Defense Authorization Act (NDAA) for Fiscal Year 2026, which include a broader framing of requirements compared to prior years.

Based on the Company’s current assessment and ongoing engagement with U.S.-based partners, Elsight does not view these developments as a risk to its operations or growth plans. The Company is progressing in close coordination with its U.S.-based OEM partners as well as directly with U.S. government entities and programs, including Project G.I., to ensure full compliance with applicable regulatory, security, and procurement requirements.

The Company continues to take all necessary steps to align its products, operations, and supply chain with U.S. regulatory and defence procurement frameworks and remains confident in its positioning within the U.S. market.

A great way to finish 2025, A Year of Significant Operational and Financial Turnaround

This milestone of transitioning from development to production marks a significant positive way to close CY 2025. A year marked by a definitive turning point for Elsight.

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The Company successfully transitioned from marginal revenues and operating losses at the beginning of the year to achieving sustained profitability and robust growth by year-end.

• Q2/2025: Breakeven Achieved

• Q3/2025: Turn Profitable

Momentum into 2026: Record Orders and the Launch of Aura

The strong performance in 2025 has created significant momentum, translating into record firm orders for early 2026 delivery.

• Record Backlog - totaling US$21.2 million (A$32.1 million) for delivery between January and April 2026.

• Aura Platform Launch - The orders also coincide with the official commercial launch of the new Aura platform, first hardware product release of a serious plan to diversify and improve the Company portfolio.

Yoav Amitai, CEO of Elsight, commented:

“Completing the development phase of Aura and moving into delivery is an important execution milestone for this program. In parallel, we are investing deliberately in the U.S. market, both through senior hires and through close engagement with government and OEM partners. We are confident in our alignment with U.S. regulatory frameworks and remain focused on executing against the growing opportunity set in this market.”

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 Elsight IR team Elsight Limited Elsight Limited T: +61 434 987 750 E: howarddigby@elsight.com E: ir@elsight.com

About Elsight (ASX:ELS)

Elsight’s (www.elsight.com) flagship product, the Halo, uses 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.