Parrot — Capital/Financing Update 2012

Jul 26, 2012

Parrot
PRESS RELEASE
Paris, July 26, 2012 at 17h45 CET

Project to acquire interest in Pix4D, aerial mapping specialist

Project to acquire a minority interest for 2.4 million Swiss francs
Low-altitude aerial image processing specialist
Additional asset for the civil drone market

Parrot has entered into exclusive negotiations with Pix4D, the 3D digital mapping specialist with a recognized expertise in low-altitude aerial image processing. Following on from the acquisition of senseFly (see press release here), the software suite developed by Pix4D has attracted the attention of Parrot, which would invest around 2.4 million Swiss francs (approximately 2.0 million euros) for 31% of its capital, further strengthening its portfolio of dedicated solutions for the promising civil drone market.

Created following more than 10 years of research by Dr. Christoph Strecha primarily at the computer vision lab of the Ecole Polytechnique Fédérale de Lausanne (EPFL), Pix4D was founded in 2011 and its customers already include the leading players for civil drones in commercial environments, notably senseFly.

Supported by recent changes to the regulatory framework for the use of civil drones, notably adopted in the US in April 2012 and France in May 2012, the ultralight civil drone market is growing rapidly and industry professional estimate it could reach over 1 billion dollars in 2020.

Pix4D develops advanced image processing algorithms making it possible to analyze images to build three-dimensional models of the environment they depict. Compared with the 3D mapping technologies currently available, Pix4D's proprietary solutions are much quicker, full automatic and more cost-effective, while also offering far better accuracy. More specifically, these key strengths mean that it is positioned to deliver optimum responses to the needs for monitoring and comparing the mapping data collected. In this way, Pix4D dovetails effectively with the solutions developed for the emerging commercial civil drone market, particularly in the construction, exploration, agriculture and environment sectors.

This project, subject to certain suspensive conditions being met, could move forward during the course of summer 2012.

As Henri Seydoux, Parrot's founder, chairman and CEO, concludes: "We believe it is the right time to move closer to Pix4D, whose advanced 3D mapping technologies will be key for the development of the emerging civil drone market. The complementary areas of technological expertise developed by Parrot, senseFly and Pix4D will contribute towards the rapid emergence of a new age of aerial surveillance and photography, which we are positioning ourselves on, following on from the Parrot AR.Drone's success, as we firmly believe in its potential".

More information: www.pix4d.com

ABOUT PARROT

Parrot, a global leader in wireless devices for mobile phones, stands on the cutting edge of innovation. The company was founded in 1994 by Henri Seydoux as part of his determination to drive the inevitable breakthrough of mobile phones into everyday life by creating high-quality, user-friendly wireless devices for easy living.

PARROT | Press release | Pix4D

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Parrot has developed the most extensive range of hands-free systems on the market for cars. Its globally recognized expertise in the fields of mobile connectivity and multimedia around Smartphones has positioned Parrot as a key player of in-car infotainment. Additionally, Parrot designs and markets a prestigious line of high-end wireless multimedia products in collaboration with some of the world's most well-renowned designers. Finally, Parrot is expanding on the UAV market with the Parrot AR.Drone, the first quadricopter piloted via wi-fi and using augmented reality and also with new solutions to address the UAV market for professional use.

Parrot, headquartered in Paris, currently employs more than 700 people worldwide and generates the majority of its sales overseas. Parrot is listed on NYSE Euronext Paris since 2006. (FR0004038263 - PARRO)

For more information: www.parrot.com / www.ardrone.com / www.parrotoem.com

CONTACTS

Analyst and investor relations: Marie Ein

T: +33(0) 1 53 65 68 68 - parrot@calyptus.net

PARROT | Press release | Pix4D
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