Appendix 4E and Annual Report

• Achieved annual revenue of US$22.8 million, an 11-fold increase year-on-year
• Reached cash flow breakeven and transitioned to profitability, delivering a net profit of US$7.5 million
• Secured a US$21.2 million contract for delivery in H1 2026, providing strong revenue visibility

Elsight Limited recorded a landmark year of growth in 2025, achieving an 11-fold increase in annual revenue to approximately US$22.8 million, driven by a record-breaking fourth quarter of ~US$9.3 million. The company transitioned through cash flow breakeven during the year and delivered a net profit of approximately US$7.5 million, a rare outcome in the high-growth technology sector. Elsight's blended gross margins remained at software-like levels of approximately 77%, reflecting the mission-critical value of the Halo platform. The company ended the year with a robust cash balance of US$59 million and zero debt, providing a solid foundation for 2026 expansion and shareholder value creation. Key highlights include a US$21.2 million contract secured in December 2025 for delivery in the first four months of 2026, expanding the order backlog to approximately US$22 million and providing strong revenue visibility. Elsight also successfully demonstrated the Halo platform to multiple U.S. Department of Defense units and was selected by the Defense Innovation Unit to advance to Phase 3 of Project G.I., entering final fielding and testing ahead of expected production procurement in 2026. The company also transitioned its Aura program from development into production, marking a significant operational milestone and expanding Elsight's addressable market beyond unmanned platforms into soldier-level and portable communications.

Elsight entered 2026 with approximately US$22 million in confirmed order backlog, representing approximately 96% of total CY2025 revenue already contracted for the first half of the new year.

Elsight views 2025 as the foundation of a longer growth trajectory, with a growing backlog, strong cash position, expanding recurring revenue base, and major defence programs progressing toward scaled procurement. The convergence of rising defence budgets, increasing adoption of autonomous systems, and regulatory progress in commercial aviation creates a durable tailwind for secure, resilient connectivity platforms, positioning Elsight at the centre of this convergence.