Viasat Awarded $99 Million Lot Buy Order for Military Tactical Radios

CARLSBAD, Calif., Aug. 22, 2022 /PRNewswire/ -- Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it was awarded a $99 million order for Multifunctional Information Distribution System (MIDS) Joint Tactical Radio System (JTRS) terminals from U.S. Naval Information Warfare Systems Command (NAVWAR) on behalf of the MIDS Program Office. This order falls under a U.S. Navy Indefinite Delivery, Indefinite Quantity (IDIQ) contract awarded to Viasat in 2020 with a maximum value of $998 million for the production, retrofits, development and sustainment of MIDS JTRS terminals. This order was received during Viasat's Q2 FY23.

MIDS are among the most widely used Link 16 terminals by the US military and global allies, acting as the foundational communications datalink on the modern battlefield and providing a secure communications capability for operations in any environment. Viasat's MIDS JTRS terminals provide access to the secure Link 16 line-of-sight network enabling tactical communications and data transport to ground, maritime and airborne platforms to provide greater situational awareness on the battlefield.

"This award further indicates Viasat's commitment and expertise providing Link 16 tactical communications solutions supporting US and Allied armed services," said Craig Miller, president of Viasat Government Systems. "MIDS JTRS radios are a critically important tool that enables warfighters to maintain communications superiority and secure data transport on the battlefield, as well as securely communicate with allied forces. Viasat is proud to be a trusted supplier of this capability for today's allied warfighting force."

The order demonstrates the strength of Viasat's Tactical Data Link (TDL) business and recognition of its production capability to deliver large quantities of MIDS terminals in a variety of configurations to meet mission and customer requirements.

Visit Viasat's website for more information about its TDL and Line-of-Sight networking and communications capabilities.

About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. For over 35 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat's Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.

Forward-Looking Statement
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include statements about the expansion and evolution of Viasat's receipt of orders under the IDIQ contract; expected benefits and performance of Viasat tactical data links business and Multifunctional Information Distribution System (MIDS) Joint Tactical Radio System (JTRS) terminals; and production capability to deliver large quantities of MIDS terminals. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: contractual problems, product defects, manufacturing issues or delays, regulatory issues, technologies that do not perform according to expectations; and increased competition and other factors affecting the government and defense sectors generally. In addition, please refer to the risk factors contained in Viasat's SEC filings available at www.sec.gov, including Viasat's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. Viasat undertakes no obligation to update or revise any forward-looking statements for any reason.

Copyright © 2022 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

SOURCE Viasat, Inc.