Market Overview

Lockheed Martin Awards Luna Innovations "Evolutionary Technology Supplier"

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Prestigious honor awarded to only three out of more than a thousand
suppliers

Luna Innovations Incorporated (NASDAQ:LUNA), a global leader in
advanced optical technology, was recognized as an Evolutionary
Technology Supplier by Lockheed Martin in an August 22, 2018
invitation-only supplier summit. At the summit, Luna was presented with
the award acknowledging the company's exceptional technology offerings
for the support, testing and manufacturing of the F-35 Lightning II
program, one of Lockheed Martin's largest aviation programs. This
included recognition of Luna's proprietary technologies and
industry-leading products. Luna was one of only three award winners in
2018 chosen from the entire supply chain of vendors of support and
sustainment equipment for the F-35 aircraft.

Luna supplies aerospace and defense manufacturers with multiple products
for next-generation aircraft – including the ODiSI, OBR and Terahertz
systems. Given the nature and significant size of the program with which
the Evolutionary Supplier award is associated, further details have not
been disclosed.

"We are honored to receive this prestigious Lockheed Martin Evolutionary
Technology award, which recognizes only three of more than a thousand
suppliers," said Scott Graeff, President and Chief Executive Officer of
Luna. "The award highlights our mission to accelerate the process of
bringing innovative products, like the F-35, to market and recognizes
our leading technical expertise as well as our employees' significant
contributions to the success of such critical programs."

The F-35 Lightning II aircraft is currently in production and over 310
have been delivered to U.S. and international customers and this number
is expected to grow to over 900 by 2022. More than 665 pilots and 6,000
maintainers have been trained, and the F-35 fleet has surpassed more
than 150,000 cumulative flight hours.

About Luna

Luna Innovations Incorporated (www.lunainc.com)
is a leader in optical technology, providing unique capabilities in
high-performance fiber optic test products for the telecommunications
industry and distributed fiber optic sensing for the aerospace and
automotive industries. Luna is organized into two business segments,
which work closely together to turn ideas into products: a Technology
Development segment and a Products and Licensing segment. Luna's
business model is designed to accelerate the process of bringing new and
innovative technologies to market.

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