Company Remains Well Positioned for Growth Despite FTUAS Loss

ARLINGTON, Va., May 25, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) today announced that the company’s JUMP 20 Medium UAS was not selected by the U.S. Army to proceed further within the Future Tactical Unmanned Aircraft System (FTUAS) Program Increment 2, the next development phase of the FTUAS program. Despite this news, the company had a strong close to its fiscal year 2023, ended April 30, 2023, achieving all key financial metrics. This outcome does not have a material impact on the company’s near-term outlook and AeroVironment remains poised for at least 15% top-line and robust bottom-line growth in fiscal 2024.

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In late April, a more powerful version of a U.S. drone made its appearance on the battlefields of Ukraine. It’s called the Switchblade 600, which is an upgraded version of the Switchblade 300. Khrystyna

Shevchenko visited the drone production facility in Los Angeles and has this story.

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SOF WEEK 2023 — California firm AeroVironment has been producing loitering munitions and other drones for the US military for more than a decade, but the war in Ukraine has become an “inflection point” for the firm, according to CEO Wahid Nawabi.

Through security aid packages, the Pentagon has sent hundreds of the company’s Switchblade suicide drones — both the smaller 300 version and the larger 600 version — to Ukraine, along with AeroVironment’s bigger Puma surveillance UAV. The systems’ reported success on the battlefield has prompted other militaries to take notice.

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New vertical take-off and landing kit expands operational capabilities and streamlines constrained area operations

ARLINGTON, Va., May 9, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) today introduced the Puma™ VTOL (vertical take-off and landing) kit, designed for plug-and-play integration into Puma 2 AE and Puma 3 AE small unmanned aircraft systems (SUAS). The optional Puma VTOL kit expands the operational capabilities of the combat-proven Puma system in complex terrain, as neither runway nor large open space are required for launch and recovery of the VTOL-equipped Puma, allowing operators to launch anywhere, anytime.

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The success of Ingenuity Mars helicopter, co-designed and co-developed by AeroVironment and NASA/JPL, lays the foundation for the development of the Sample Recovery Helicopters

ARLINGTON, Va., May 2, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) has been awarded a $10 million contract by NASA’s Jet Propulsion Laboratory (JPL) to co-design and co-develop conceptual designs and engineering development units of Mars Sample Recovery Helicopter flight systems. Future efforts could include detailed design, build, and test of qualification and flight hardware. The helicopters build upon the Ingenuity Mars Helicopter design heritage and feature upgraded robotics to supplement aerial mobility.

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Contract includes first-time Switchblade system foreign military sales to two allied nations

ARLINGTON, Va., April 26, 2023 – AeroVironment, Inc. (NASDAQ: AVAV) received additional funding of $64,565,126 on March 24 from the U.S. Army Tactical Aviation and Ground Munitions (TAGM) project office for the procurement of Switchblade® 300 loitering missile systems. This most recent firm-fixed-price contract increases the total funded amount of Switchblade systems under the original U.S. Army contract to $231,331,651. The contract will be managed by the U.S. Army Contracting Command, Redstone Arsenal, and the systems are scheduled to be delivered by July 2024.

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If it wasn’t for Western weapons, the war in Ukraine most likely would have ended weeks after it began. For the Ukrainians, one of the most dependable weapons systems in use is also one of the smallest, the Switchblade 300. The small loitering munition is made by AeroVironment, a global leader in intelligent robotics. Every branch of the U.S. Armed Services uses drones made by AeroVironment. Ingenuity, the helicopter NASA is flying around on Mars, that was also built by AeroVironment.

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Building on AeroVironment’s tactical missile legacy, the Switchblade 300 Block 20 offers enhanced operational features and performance

ARLINGTON, Va., March 28, 2023 – AeroVironment (NASDAQ: AVAV) today unveiled the newest version of its Switchblade® 300 rapidly deployable loitering missile system. The Switchblade 300 Block 20 builds on Block 10C’s battle-proven performance with new operational features and significant performance and capability improvements.

Switchblade 300 Block 20 is portable, lightweight, and easy to operate, requiring only a single operator. The new tablet-based Fire Control System allows operators to easily train, plan, and execute missions. Operation of the system is further simplified by offering an integrated control directly onto the launcher tube.

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• AeroVironment is the only company to secure an award for all FTUAS program increments, including FTUAS Increments 0,1 and now 2
• Increment 2 is the final phase of the U.S. Army’s FTUAS program competition to select a replacement for the RQ-7B Shadow UAS 

ARLINGTON, Va., March 1, 2023 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced it was selected by the United States Army on Feb. 28, 2023, to move forward in the Future Tactical Unmanned Aircraft System (FTUAS) program.

AeroVironment’s JUMP® 20 will compete with several other vendors in the FTUAS Increment 2 multi-phased effort which will allow the Army to select the best system for its needs. Ultimately, FTUAS Increment 2 aircraft will be fielded to Brigade Combat Teams (BCTs) throughout the Army, replacing the long-serving RQ-7B Shadow UAS.

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The latest U.S. security assistance package to Ukraine shows a commitment to enhanced drones, with four new types specifically mentioned:

— The Jump 20 UAS is an unusual vertical take-off tactical reconnaissance machine from AeroVironment, Inc. With an endurance of 14 hours and a range of over a hundred miles , the Jump-20 is perhaps nearest to Russia’s Orlan-10, a machine which is much derided for its crude construction but gives Russia an envied long-endurance observation platform. The more sophisticated Jump-20 will provide intelligence for HIMARS and the new Ground Launched Small Diameter Bomb and other long-range weapons as Ukraine hits targets further behind the front line.

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