AeroVironment Secures $5.9 Million Puma 3 AE Unmanned Aircraft Systems Foreign Military Sales Contract Award for U.S. Ally

• Puma 3 All Environment (AE) unmanned aircraft system delivers immediate tactical intelligence, surveillance and reconnaissance in maritime and land operations
• Customer joins growing number of allied government forces fielding AeroVironment’s advanced, battle-proven family of tactical unmanned aircraft systems
• Foreign Military Sales program promotes interoperability among U.S. and allied forces for joint operations

SIMI VALLEY, Calif.--(BUSINESS WIRE)--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced it secured a $5,922,461 firm-fixed-price U.S. Department of Defense Foreign Military Sales (FMS) contract award on December 22, 2020 to provide Puma™ 3 AE tactical UAS, training and support to a European allied nation. Delivery is anticipated by April 2021.

"Puma 3 AE offers allied forces an unparalleled perspective of tactical environments, increasing situational awareness and minimizing exposure to possible threats on land or at sea," said Rick Pedigo, vice president of business development and sales at AeroVironment. "With the help of AeroVironment’s tactical unmanned aircraft systems, like Puma 3 AE, customers are able to increase the mission effectiveness and safety of their frontline forces, even in the most extreme environments."

The AeroVironment Puma 3 AE unmanned aircraft system is designed for land and maritime operations. The hand-launched Puma 3 AE has a wingspan of 9.2 feet, weighs 15 pounds and can operate for up to 2.5 hours. The aircraft also has a range of 12.4 miles (20 kilometers) with a standard antenna, and up to 37.2 miles (60 kilometers) with AeroVironment’s Long-Range Tracking Antenna (LRTA). It also features reduced system packaging with a flyable configuration and GCS in one case. Capable of landing in water or on land, the all-environment Puma 3 AE and Mantis i45 EO/IR sensor suite empower operators with extended flight time and a level of imaging capability never before available in the tactical UAS class.

AeroVironment’s family of tactical UAS comprises the majority of all unmanned aircraft in the U.S. Department of Defense (DoD) inventory, and its rapidly growing international customer base numbers more than 50 allied governments. To learn more, visit www.avinc.com.

ABOUT AEROVIRONMENT UNMANNED AIRCRAFT SOLUTIONS

AeroVironment’s portfolio of intelligent, multi-domain robotic systems includes small footprint, runway-independent unmanned aircraft systems. The JUMP 20, T-20 and Puma™ LE provide extended range, multi-payload capabilities, and the Puma™ RQ-20, Raven® RQ-11B, Wasp® RQ-12A, VAPOR® Helicopter and automated Quantix™ Recon deliver highly tactical, frontline situational awareness. These solutions deliver increased, multi-mission capabilities and the option of selecting the appropriate aircraft based on the type of mission to be performed. These capabilities have the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel, as well as greater safety, scalability and cost-savings to commercial operators. AeroVironment provides turnkey ISR and support services worldwide to ensure a consistently high level of mission success. AeroVironment has delivered tens of thousands of new and replacement unmanned air vehicles to customers within the United States and to more than 50 allied governments. For more information, visit https://www.avinc.com/uas.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.