AeroVironment Receives $9.8 Million Raven and Puma 3 AE Awards from NATO Support and Procurement Agency under Multi-Year Contract with $80 Million Potential Value

June 10, 2020 - AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced its receipt of two firm-fixed-price orders totaling $9,804,448 from the NATO Support and Procurement Agency (NSPA).

The orders, received on March 5, 2020 and April 16, 2020, encompass the procurement of Raven® and Puma™3 AE tactical UAS and spares. Delivery for the first order is anticipated by August 2020 and the second order by October 2020.

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The orders are part of a three-year base contract received from NSPA in January 2020. The contract includes an option for two additional years of logistics support for Raven, Wasp® and Puma tactical UAS. The total potential value of the multi-year contract is $80 million, encompassing the procurement and sustainment of AeroVironment tactical unmanned aircraft systems employed by the defense forces of several NATO countries.

“AeroVironment's tactical unmanned aircraft systems, such as Raven and Puma, have helped transform the way U.S. and allied forces plan, train, equip and operate,” said Rick Pedigo, vice president of sales and business development at AeroVironment. “Both systems benefit from continuous technology improvements and pack significant capabilities into portable, man-packable platforms that provide operators with rapid and effective force protection.”

AeroVironment's Raven system is designed for rapid deployment and high mobility for operations requiring low-altitude intelligence, surveillance and reconnaissance. With a wingspan of 4.5 feet (1.4 meters) and weighing just 4.2 pounds (1.9 kilograms), the hand-launched Raven provides situational awareness, day or night, with an operational range of 6.2 miles (10 kilometers). The Raven's Mantis i23 EO/IR gimbaled payload delivers real-time video or infrared imagery to ground control and remote viewing stations.

The AeroVironment Puma 3 AE is a fully man-portable unmanned aircraft system designed for land and maritime operations. The hand-launched Puma 3 AE has a wingspan of 9.2 feet (2.8 meters), weighs 15 pounds (6.8 kilograms) and can operate for up to 2.5 hours at a range of up to 12.4 miles (20 kilometers) with a standard antenna, and up to 37.2 miles (60 kilometers) with AeroVironment's Long-Range Tracking Antenna (LRTA). Capable of landing in water or on land, the all-environment Puma, with its Mantis i45 EO/IR sensor suite, empowers the operator with extended flight time and a level of imaging capability never before available in the tactical UAS class.

AeroVironment's family of tactical UAS use a common ground control station and software, allowing for improved interoperability and decreased training and logistics costs for NATO forces. To learn more, visit www.avinc.com.

About AeroVironment Tactical UAS

The RQ-20A/B Puma™, Puma™ LE, RQ-11B Raven®, RQ-12A Wasp®, together with the VAPOR® Helicopter comprise AeroVironment's family of tactical unmanned aircraft systems. This family of systems provides increased capability to the warfighter that gives ground commanders the option of selecting the appropriate aircraft based on the type of mission to be performed. This increased capability has the potential to provide significant force protection and force multiplication benefits to small tactical units and security personnel. AeroVironment provides logistics services worldwide to ensure a consistently high level of operational readiness. AeroVironment has delivered thousands of new and replacement tactical unmanned air vehicles to customers within the United States and to more than 45 allied governments.

About AeroVironment, Inc.

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government, and commercial customers. For more information visit www.avinc.com.

About NATO Support and Procurement Agency (NSPA)

The NATO Support and Procurement Agency (NSPA) brings together in a single organization, acquisition, logistic, medical and infrastructural capabilities, operational and systems support and services to the NATO nations, NATO Military Authorities and partner nations. As NATO's primary enabler, the Agency's mission is to provide effective and cost-efficient multinational solutions to its stakeholders. NSPA is a customer-funded agency, operating on a "no profit - no loss" basis. It is headquartered in the Grand Duchy of Luxembourg, with main operational centers in France, Hungary and Italy. For more information visit www.nspa.nato.int

Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

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