New US RWS Orders and Korean HEL Conditional Contract Update

March 31, 2026

Electro Optic Systems Holdings Limited (“EOS” or the “Company”) (ASX:EOS), is pleased to provide the following updates.

New US Orders
EOS Defense Systems USA has been awarded two new contracts totalling US$12m (approximately A$17m):

• A US$5m contract to develop and deliver Remote Weapon Systems (RWS) to the U.S. Army. This award is part of an ongoing development program with manufacturing taking place in Huntsville, Alabama. Under this contract, EOS will deliver enhanced RWS capability, designed specifically to meet the US Army’s operational requirements. This work is expected to inform future production efforts for critical US Army programs. Deliveries are expected during 2026.
• A US$7m contract to produce Slinger RWS for Northrop Grumman’s Agnostic Gun Truck (NG AGT), for counter-drone applications. EOS has previously produced RWS for the NG AGT and this follow-on order is the result of an ongoing collaboration, as well as positively evolving market demand. This contract is expected to be delivered in 2026.

Conditional Korean High Energy Laser (HEL) Contract
During February and March 2026, EOS continued to have constructive discussions with the counterparty (Goldrone) regarding a conditional US$80m contract to manufacture and supply a 100kW High Energy Laser Weapon. The contract is conditional upon the payment by Goldrone of an initial deposit (US$18 million); the customer procuring the issuance of a Letter of Credit for the remaining amount of the contract; and the customer inspecting and being satisfied with EOS' Singapore Facility. More information on this contract is included in previous announcements, including those published on 15 December 2025 and 10 February 2026.

The discussions with Goldrone during February and March 2026 included the potential to manufacture a first unit in Korea (rather than EOS Singapore as previously planned). The discussions have culminated in the development of a shared action plan to convert the contract to unconditional. Based on this shared action plan, EOS now believes that the conditional contract could be converted to an unconditional contract in Q2 2026 however there is no certainty that this will occur.

Source : Electro Optic Systems Holdings Limited (EOS)