EOS TO SUPPLY REMOTE WEAPON SYSTEMS TO UKRAINE

3 April 2023, Canberra -- Electro Optic Systems (EOS) today announced that it has secured a conditional contract to supply Remote Weapon Systems (RWS) to Ukraine valued at up to US$80m (approximately ~A$120m).

EOS’ Defence Systems business has secured the contract with SpetsTechnoExport (“STE”), a Ukrainian state-owned foreign trade enterprise to supply up to one hundred of its heavy RWS to Ukraine, including spares and related services.

The contract envisions supply during 2023 and 2024, subject to demonstration testing over the coming weeks and other customary terms for military contracts. Consistent with typical wartime contract arrangements, the contract is also subject to conditional early termination rights in favour of STE.

The product is manufactured in Australia. In performing this contract EOS will draw upon a support network and supply chain consisting of over one hundred suppliers located across Australia, and others internationally.

The RWS is a long-established product of EOS, and is currently in use with several military services in Australia, North America, Europe and South-East Asia. Designed to deliver greater accuracy and reliability than any other competitor system, the RWS can be integrated on to various vehicles and platforms and used for a broad range of mission profiles, whilst ensuring full weapon readiness as the crew operates the system while protected within the vehicle.

Andreas Schwer, Chief Executive Office of EOS, said, "EOS is proud to support the Ukrainian Armed Forces and the people of Ukraine by providing the country with the lifesaving utility of its Remote Weapon System. This will contribute to its critical security and defence needs.”

EOS continues to work on other opportunities relating to Ukraine, including opportunities for direct supply to Ukraine, and to other countries providing support.