Market Overview

NATO Support and Procurement Agency (NSPA) Awards AeroVironment $5.9 Million Contract to Procure Raven Unmanned Aircraft Systems for the Portuguese Army

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  • Raven system, with Mantis i23 sensor suite and pocket Remote Video
    Terminal (p/RVT), greatly enhances missions by adding
    stand-off/intercept, real-time surveillance and connectivity
  • With proven track record in combat use around the globe, Raven systems
    operate successfully and reliably from a variety of austere
    operational environments
  • Portuguese Army joins a growing number of allies adopting and fielding
    AeroVironment's family of unmanned aircraft systems

AeroVironment, Inc. (NASDAQ:AVAV), a global leader in unmanned aircraft
systems (UAS) for both defense and commercial applications, announced
today the receipt of a fixed-price contract award valued at $5,962,494
from NSPA on August 20, 2018. The contract award encompasses the
procurement of Raven™ unmanned aircraft systems equipped with Mantis i23
sensors and pocket Remote Video Terminals (p/RVT) for the Portuguese
Army, with delivery scheduled over a three-year period.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180913005331/en/

Portuguese Army Procures AeroVironment Raven Unmanned Aircraft Systems (Photo: Business Wire)

Portuguese Army Procures AeroVironment Raven Unmanned Aircraft Systems (Photo: Business Wire)

"AeroVironment's Raven unmanned aircraft system, equipped with our
Mantis i23 gimbaled sensor suite and pocket Remote Video Terminal, packs
significant capabilities into a portable, man-packable platform for
operations in austere environments around the globe," said Kirk Flittie,
vice president and general manager of AeroVironment's Unmanned Aircraft
Systems business. "Our small UAS deliver valuable situational awareness
directly to frontline warfighters at a fraction of the procurement and
lifecycle cost of larger UAS. The Raven system will provide the
Portuguese Army with rapid and effective force protection as well as
interoperability capabilities with NATO forces, supporting coalition
mission integration."

With the Family of Systems (FoS) concept, customers can add other
AeroVironment small UAS to augment their capabilities while utilizing
the same ground control station and software for added simplicity and
efficiency, providing for interoperability across NATO forces. The
Portuguese Army's adoption of the Raven system represents the 18th of 29
NATO member nations to adopt AeroVironment's family of small UAS.

About AeroVironment Small UAS

RQ-11B Raven®, RQ-12 Wasp®, RQ-20B Puma™ comprise AeroVironment's Family
of Small Unmanned Aircraft Systems. Operating with a common ground
control system (GCS), this Family of Systems provides increased
capability to the warfighter that can give 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 and provides mission services for customers requiring only the
information its small UAS produce. AeroVironment has delivered tens of
thousands of new and replacement small unmanned air vehicles to
customers within the United States and to more than 45 allied nations.

About AeroVironment

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.

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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