Elbit Systems of America Awarded an ID/IQ Contract With a Ceiling of $500 Million for the Supply of Squad Binocular Night Vision Goggles to the U.S. Marine Corps

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Nov 29, 2023, 02:05 ET

HAIFA, Israel, Nov. 29, 2023 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that according to the announcement of the U.S. Department of Defense (DOD), Elbit Systems' U.S. subsidiary, Elbit Systems of America – Night Vision LLC, ("Elbit Systems of America"), was awarded an indefinite delivery/ indefinite quantity (ID/IQ) contract with a maximum ceiling of $500 million, for the supply of Squad Binocular Night Vision Goggle (SBNVG) systems; spare and repair parts; contractor logistics supports and test article refurbishment.

Work under the ID/IQ will be performed in Roanoke, Virginia, and is expected to be completed in 2028. Elbit Systems of America received an initial delivery order award under the ID/IQ worth a approximately $127 million immediately following contract award.

The SBNVG is a lightweight helmet-mounted system that provides superior nighttime viewing in various environments and conditions, improving warfighter situational awareness and performance. The system includes an enhanced battery life and high-performing white phosphor image intensification tubes for improved clarity and depth perception.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: "This ID/IQ contract for Squad Binocular Night Vision Goggles follows previous orders and cements Elbit Systems of America as a leading partner of choice by the U.S. Marine Corps. We are honored to provide proven and cutting-edge equipment to the men and women of the U.S Marine Corps that will facilitate superior battlefield awareness."

About Elbit Systems

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

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Company Contact:

Dr. Yaacov (Kobi) Kagan, Executive VP - CFO
Tel: +972-77-2946663
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Rami Myerson, VP, Investor Relations
Tel: +972-77-2948984
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Dalia Bodinger, VP, Communication & Brand
Tel: 972-77-2947602
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This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States, including the duration and scope of the current war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

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SOURCE Elbit Systems Ltd.