IMCO Industries and Innocon Sign MOU to Promote Joint UAV Venture

IMCO Group, a leading provider of complex solutions for air, land, and naval defence applications, and Innocon Ltd., an innovative Israeli developer and manufacturer of Tactical UAVs ranging from micro-UAVs to full-size light aeroplanes, announced the signing of a Memorandum of Understanding (MOU) showing intention to combine their capabilities for establishing a joint venture in the field of Unmanned Aerial Systems for defence, HLS, and security applications.

IMCO Industries CEO, Mr. Eitan Zait: “We are happy to partner with Innocon, an innovative developer of tactical UAVs. IMCO Group, together with its subsidiaries, affiliates, and partners, offers One-Stop-Shopping for end-to-end integrated defence
solutions. The MOU with Innocon will allow us to offer customers all around the
world uniquely tailored tactical superiority defence solutions using UAVs equipped with sensors, communications, and independent computing power on the battlefield.”

Zvika Nave, Innocon CEO: “We are excited to cooperate with IMCO Industries, a
Prime System Integrator of complete defence solutions, and believe that together
with the high-end capabilities, Innocon brings in the field of UAV development and
manufacture, we will be able to provide advanced tactical solutions for different
defence applications”.

IMCO Industries Ltd. (Tel Aviv Stock Exchange TASE: IMCO) is a leading defence
provider of complex solutions for air, ground, and naval applications. With proven
manufacturing capabilities in Israel, the USA, and India, IMCO combines state of the
art design, global production and project management capabilities to provide what
the customer needs where it needs it. Together with its subsidiaries, affiliates and
partners, IMCO Group offers design, development and production of unique Terrain
Dominance range of solutions, that offer scalable tactical superiority capability using
drones and UAVs equipped with sensors, communications, multi-axial positioners
and independent computing power for the defence, HLS, and security markets.

Innocon Ltd. is an Israeli developer and manufacturer of Tactical UAVs ranging from
micro-UAVs to full-size light airplanes. The company delivers either complete systems
or major sub-systems, and offers avionics integration services. Innocon’s technological advantages are clearly demonstrated in the superior performance of its core command and control technology on all company UAVs.

Innocon will be part of the IMCO Group stand at the IDEX 2021 Defense Exhibition in
Abu Dhabi.