• EOS rejects allegations in Grizzly Report as misleading and manipulative
• EOS outlines recent contract wins and business developments
• EOS divested non-core EM Solutions business to focus on core growth areas

EOS notes that on 6 February 2026, Grizzly Research LLC released a report making various allegations pertaining to EOS. EOS rejects the misleading, manipulatory and pejorative conclusions contained in the Grizzly Report. EOS understands that Grizzly has disclosed that it holds a short position in EOS securities and therefore stands to profit from a decline in EOS' share price. EOS believes that changes in the EOS share price are due to a wide range of factors, including changes in global defence spending, technology growth, and announcements of new contract wins. EOS outlines several recent contract wins, including a $125 million High Energy Laser Weapon system order, a $108 million Remote Weapon Systems contract for the Australian Defence Force, and other counter-drone and North American orders. EOS also notes that it divested its non-core EM Solutions business in 2024 to focus on core growth areas of counter-drone solutions and space control solutions. The divestment was not driven by a need to repay debt, as EOS had sufficient cash and funding availability to repay all debt on schedule. EOS currently has $107 million in cash holdings and no drawn debt, and has secured a $100 million two-year secured term loan facility to support growth and provide liquidity buffers.