RCAT Red Cat Holdings Inc

Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat" or the "Company"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced that its Black Widow drone and FlightWave Edge 130 were included on the list of 23 platforms and 14 unique components and capabilities selected as winners of the Blue UAS Refresh. The platforms will undergo National Defense Authorization Act (NDAA) verification and cyber security review with the ultimate goal of joining the Blue UAS List.

Over the coming months, the Blue UAS List and Blue UAS Framework will expand with new additions. The inclusion of the Black Widow and Edge 130 as winners of the Refresh further validates Red Cat’s commitment to delivering NDAA-compliant unmanned systems for defense and government applications.

“We applaud the DIU’s ongoing diligence and focus on U.S. drone manufacturing,” said Jeff Thompson, Red Cat CEO. “The inclusion of both Teal’s Black Widow and FlightWave’s Edge 130 in the NDAA verification and cyber security review underscores our dedication to providing safe and secure solutions for the U.S. military and the warfighters that use them. As national security concerns around drone technology continue to grow, our systems ensure that the military and government agencies have access to reliable, mission-ready platforms.”

Teal’s Black Widow is Red Cat’s small unmanned aerial system (sUAS) designed for short-range reconnaissance (SRR) missions. The system, which was down selected for the U.S. Army’s SRR Program of Record contract, provides military operators with improved situational awareness, autonomous capabilities, and rugged performance in contested environments. The company recently announced a partnership with Palantir to integrate Visual Navigation software (VNav) into Red Cat’s Black Widow drones.

FlightWave’s Edge 130 is a high-endurance vertical takeoff and landing (VTOL) drone engineered for medium-range intelligence, surveillance, and reconnaissance (ISR) operations. Its modular payload system and extended flight capabilities make it a versatile asset for defense and government missions.

Inclusion in the review continues Red Cat’s legacy of having Blue listed solutions, including Teal 2 and Golden Eagle. Pending inclusion in the updated Blue UAS approved list, Red Cat’s drones can continue to be easily procured by the U.S. Department of Defense, federal agencies, and allied partners, eliminating lengthy waiver processes and ensuring rapid deployment to the field.

For more information on Red Cat’s approved Blue UAS products, visit www.redcat.red or the official DIU Blue UAS page at www.diu.mil/blue-uas.

About Red Cat Holdings, Inc.

Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a Family of Systems. This includes the Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed-wing VTOL for extended endurance and range, and FANG™, the industry's first line of NDAA-compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

Forward Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

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