Announcement PDF TRAINING AGAINST THE FUTURE OF WARFARE The targetry platform enabling realistic, scalable counter-drone training INVESTOR PRESENTATION JUNE 2026 DISCLAIMER 02 TRAIN AGAINST THE FUTURE This presentation has been prepared by Boresight Pty Ltd (Company) and contains background information about the Company’s current situation at the date of this presentation. This presentation should be read in conjunction with the Company’s replacement prospectus dated 23 April 2026 (Prospectus) and other periodic and continuous disclosure announcements. The presentation is in summary form and does not purport to be all inclusive or complete. This presentation is for general information purposes only. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. 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Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law, the Company does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions, or circumstances on which any such forward looking statement is based. An Australian defence technology Company addressing a critical and growing gap in military readiness: the ability to train effectively against low-cost drones used in modern conflict BORESIGHT LIMITED TRAIN AGAINST THE FUTURE High-growth, recurring-revenue profile Clear route to global scaling Deeply defensible market position 03 COMPANY SNAPSHOT A DEFENCE COMPANY BUILDING ATTRITABLE TRAINING INFRASTRUCTURE 04 Boresight occupies a distinct position within the defence ecosystem. The Company designs and manufactures low-cost, attritable drone systems for training and operational use and does not compete with high-end ISR or counter-UAS technology providers. 1) Aerial Targetry Boresight’s primary business is the supply of attritable aerial targets used to train, test, and certify counter-UAS and air defence systems. These products are designed for live training environments, repeated consumption, and represent the Company’s core revenue stream. 2) Attritable ISR Drones Boresight has developed the BS-350, which competes with traditional ISR drones only at the attritable end of the market. The platform was selected by the Australian Defence Force as one of only three companies from more than 250 respondents. TRAIN AGAINST THE FUTURE 5000+ UNITS SOLD BQ-400 Quadcopter Small Quadrotor Target UAS PRODUCTS IN SERVICE 70 UNITS SOLD BQ-750 Quadcopter Larger Target Quadrotor with Payload capacity 350 UNITS SOLD BS-350 Quadcopter Sovereign Alternative to Small ISR Camera Drones REVENUE FY24/25 ~A$ 4.36M FOUNDED 2020 I HEADQUARTERS CANBERRA I EMPLOYEES 27 (Australia - 24, USA -2, UK - 1) OPERATIONAL TODAY 05 TRAIN AGAINST THE FUTURE BORESIGHT HAS ACHIEVED SALES INTO EVERY FIVE EYE (“FVEY”) MILITARY AND IS RAPIDLY EXPANDING THE BREADTH OF EUROPEAN ACCESS, WHILE CONSOLIDATING AND EXPANDING US INVESTMENT. AN INCREASING NUMBER OF INDUSTRY PARTNERS ARE CHOOSING BORESIGHT AS THE TARGETRY DRONE OF CHOICE FOR ALL THEIR C-UAS TESTING. ISR DRONES GATHER INTELLIGENCE, BORESIGHT DRONES ENABLE TRAINING DRONE WARFARE HAS OUTPACED TRAINING TRAIN AGAINST THE FUTURE Threats have evolved faster than systems for readiness and methods for simulating real-world counter-drone scenarios ● Rapid proliferation of cheap, autonomous drones ● Increasing use by state and non-state actors ● Training reliant on improvised or unsuitable systems ● Limited realism in current counter-drone training ● Need for repeatable missions for system and training certification THE PROBLEM While drone threats have become more numerous, autonomous, and disposable, training systems have remained largely unchanged. Many forces continue to rely on hobby drones or expensive operational platforms that were never designed to be destroyed during training, limiting both realism and frequency of exercises. 06 ATTRITABLE TARGETRY FOR THE COUNTER-DRONE AGE TRAIN AGAINST THE FUTURE PURPOSE-BUILT SYSTEMS FOR LIVE COUNTER-UAS TRAINING ● Low-cost, attritable drone targets ● Designed for destruction and rapid replacement ● Consistent flight behaviour for repeatable training scenarios THE BORESIGHT SOLUTION Boresight has developed a family of target drones specifically designed to be used and lost during training. This enables militaries to conduct realistic live exercises without risking expensive ISR platforms or relying on unreliable hobby systems. The same capability also services a broader industry customer base, providing a cost-effective means for developing, testing, and demonstrating their systems, or a platform for the use of expendable drones. While smaller than military demand, broader industrial use cases represent an important and complementary customer segment with similar requirements for realism, repeatability, and affordability. 07 OPERATIONAL FY24/25 REV A$4.36M BORESIGHT SOLUTION 08 TRAIN AGAINST THE FUTURE MARKET IMPACT: Low-Cost, Rapidly Manufactured, Sovereign Designed in Australia for mass deployment, enabling cost-effective replication of adversary drones. Unlocks the ability to certify personnel and technologies systematically. Positioned to scale globally in defence and commercial markets, addressing one of the fastest-growing challenges in modern conflict. Delivers training without the prohibitive cost of destroying operational UAS. First Mover Advantage The only drone purpose-built as a targetry solution for counter-UAS training. Creates a new category in defence training, as simulators and modern targets redefined weapons training. Scalable & Sustainable Model Manufactured for simplicity and speed, enabling sovereign production at scale. OUR DRONE PRODUCTS: IN SERVICE TRAIN AGAINST THE FUTURE BQ-400 Quadcopter Range: 2.5km Speed: 17.5m per second Endurance: Up to 25 minutes Weight: 1300g Size: 325mm x 325mm x 105mm Payload: 300g Frequency: 868-915 MHz & 2.4GHz BQ-750 Quadcopter Range: 2.5 km Speed: 17.5m per second Endurance: Up to 45 minutes Weight: 3000g Size: 800mm x 800mm x160mm Payload: 2000g Frequency: 868-915 MHz & 2.4GHz BS-350 Quadcopter Range: 5 km Speed: 15m per second Endurance: 30 minutes Weight: 950g Size: 380mm x 320mm x 90mm Payload: 2 x 12Mp Cameras Video: 1080p Live Frequency: 2.4GHz (multiple others) 5000+ UNITS SOLD 70 UNITS SOLD 350 UNITS SOLD Larger Target Quadrotor with Payload capacity Small Quadrotor Target UAS Sovereign Alternative to Small ISR Camera Drones 9 PRODUCTS IN SERVICE 09 MISSION PLANNING: IN SERVICE TRAIN AGAINST THE FUTURE ● Single Ground Control Station (GCS) operating up to five aerial targets per mission ● Ongoing development to: ○ Increase the number of simultaneous aerial targets ○ Enable mixed-platform missions within a single scenario ● Mission Planning software supporting ad-hoc and pre-planned missions ● Enables increasingly complex, repeatable training and test scenarios SOFTWARE-ENABLED COUNTER-DRONE TRAINING AT SCALE Advanced Mission Packages 010 C-UAS System SWARMING: IN SERVICE TRAIN AGAINST THE FUTURE ● Single Ground Control Station (GCS) controlling multiple Raider aerial targets ● Powered by Boresight’s proprietary Flight Management software ● Enables coordinated, swarming aerial threat emulation ● Customisable flight profiles compliant with local airspace and range regulations ● Designed to ensure safe, simple, repeatable, live C-sUAS training SOFTWARE-ENABLED COUNTER-DRONE TRAINING AT SCALE 011 IN DEVELOPMENT FOR 2026 LAUNCH TRAIN AGAINST THE FUTURE DUE FOR RELEASE Q3 DUE FOR RELEASE Q3 DUE FOR RELEASE Q4 OUR PRODUCTS COMING TO MARKET BF-100 Group 1 Fixed Wing Range: 5km Speed: 30-40m per second Endurance: 30+ minutes Weight: 2000g Size: 1000mm x 450mm Frequency: 868-915 MHz & 2.4GHz Small Fixed Wing Target UAS BQ-300 FPV Quadcopter Range: 2.5 km Speed: 40m per second Endurance: 20 minutes Weight:1000g Size: 340mm x 320mm x 100mm Frequency: 868-915 MHz & 2.4GHz Fast Quadrotor FPV Target UAS BF-150 Group 1 Fixed Wing Range: 5 km Speed: 30-40m per second Endurance: 30+ minutes Weight: 3500g Size:Syntax Warning (1028234): Badly formatted number 1500mm x 900mm Frequency: 868-915 MHz & 2.4GHz Loitering Munition Target UAS 012 13 SCALEABLE, SOVEREIGN MANUFACTURING BASE TRAIN AGAINST THE FUTURE • Established manufacturing facilities already producing drones at volume. • Defence hardware-ready 3D printing capabilities ensure durability and rapid iteration. EXISTING DEFENCE-GRADE PRODUCTION SCALABLE TO DEMAND CAN BE REPLICATED GLOBALLY LICENSING MODEL • Modular processes allow rapid scale-up to meet surging orders. • Onshoring capacity to strengthen sovereignty and reduce supply chain risk. • Manufacturing processes designed for quick replication in new markets (US, Europe, AUKUS partners). • Ensures localised production aligned with national security priorities. • Refined licensing approach allows Boresight’s designs to be adopted by major industry players. • Creates revenue streams beyond internal production, enabling global market scale. 13 013 Volume enables improved manufacturing & onshoring → lower COGS, stronger sovereign moat, expansion to allied markets Recurring reorders for training → supplier becomes part of the training doctrine Low-cost targetry sales at unit level, bypasses slow procurement → instant entry point Integration with certification and training, AI swarm control subscriptions, and performance data capture → high switching costs Upsell ISR drones, swarm capability, payload variants, spares, and consumables LAND EMBED EXPAND SCALE LOCK OUR PRODUCTS IN SERVICE RECURRING, EMBEDDED AND EXPANDING DRIVEN BY TRAINING CONSUMPTION 014 TRAIN AGAINST THE FUTURE FY24/25 SNAPSHOT HIGH-GROWTH, RECURRING REVENUE PROFILE, CLEAR ROUTE TO GLOBAL SCALING AND A DEFENSIBLE MARKET POSITION 015 TRAIN AGAINST THE FUTURE STRATEGIC PROCESS DRONE SALES: 6,000 DRONES SOLD WITH SIGNIFICANT EXPORT REVENUE REVENUE GROWTH: FY 23/24 AU$2.76M FY 24/25 AU$4.36M Includes growth of US revenue from US$90K to US$1M SUCCESSFUL ADF CAPABILITY ● Delivered sovereign ISR drones to the ADF ● Follow-on orders received GLOBAL GROWTH ● US, Canada, UK, and European pipelines accelerating UK EXPANSION ● Established to seize EU market growth LAND156 INCLUSION ● Supporting the Australian major counter UAS program COMPETITOR LANDSCAPE 016 PRC-MANUFACTURED DRONES (DJI & OTHERS) PRC-made drones are banned or restricted in most FVEY + allied defence markets. Boresight provides mass-producible, certifiable training targets and an attritable ISR platform that integrates with defence standards. Hobby drones lack standardisation, durability, and cannot be deployed at military training scale. Boresight offers trusted, sovereign alternatives for both training (target drones) and tactical use (attritable ISR/effectors). AUKUS ISR drones are priced for high-end tactical missions, making them too expensive for expendable training or saturation tactics. Boresight’s cost structure enables a new use case: large-volume deployment, certification, and ISR at scale. Traditional mid-tier UAV producers optimise for complexity and margin. Boresight optimises for speed, cost-efficiency, and mass deployment across both training drones and attritable ISR. Primes focus on large multi-domain systems, not expendable drone fleets. Boresight fills the consumable and certification niche and is positioned to supply, license, or partner into broader defence programs. HOBBY DRONES (FPV & DIY) AUKUS MANUFACTURERS (E.G. SKYDIO, RED CAT, SHIELD AI) MID-TIER UAV MANUFACTURERS DEFENCE PRIMES (LOCKHEED, NORTHROP, BAE, ETC.) LEADERSHIP TEAM TRAIN AGAINST THE FUTURE BACKED BY DEFENCE EXPERTS 017 Justin Olde CSM CEO & Managing Director A 25 year Army Officer followed by 10 plus years in defence industry sales and product development with a strong focus on C-UAS technologies. Justin was the VP of Global Business Development for EOS Ltd, an ASX listed defence Company, before joining Boresight as its CEO. Justin has also held roles as a senior capability management specialist for defence consulting firm Nova Systems and was a project and bid manager for multinational defence Company Elbit Systems of Australia. His last role in the military was as the Deputy Director Land Test and Evaluation. He has served three operational deployments and was awarded the Conspicuous Service Medal. He holds a Masters Degree in Defence Capability Management and Acquisition and is a graduate of the Royal Military College of Australia Duntroon. Dr Andrew Windsor gained his PhD in Theoretical Physics from the Australian National University prior to working for 10 years for the Australian Government in a number of roles. Andrew is an accomplished ICT leader with 15 years of experience in the industry spanning disciplines such as project and program management, cyber security, data analytics and intelligence systems, training, strategic planning and account management. Co-founder and Director of Criterion Solutions Pty Ltd, a supplier of niche UAS and RF dominance technology to Government agencies. Michael is a co-founder and Director of Boresight. He’s a former Australian Army Signals Corps officer and a graduate of the Royal Military College of Australia Duntroon. He has extensive sales and project management experience within the Defence, intelligence and law enforcement communities, having been responsible for providing complex intelligence solutions to a number of Federal agencies for over 20 years. Co-founder and Director of Criterion Solutions Pty Ltd, a supplier of niche UAS and RF dominance technology to Government agencies. Dr Andrew Windsor Non-Executive Chairman Michael Sinkowitsch Executive Director Mr Blake Burton is an executive director of Adisyn Ltd (ASX: AI1), where he served as Managing Director from July 2022 to February 2026. Mr Burton has extensive experience in the IT industry, having founded his own web hosting company which he sold successfully to Australia’s largest privately owned web host at the time of sale. Previously, Mr Burton was an auditor at PwC, which included working with a number of ASX listed and international companies. Mr Burton holds a Bachelor of Commerce from the University of Western Australia, majoring in Accounting and Corporate Finance. Blake Burton Director SUPPORTED BY TRAIN AGAINST THE FUTURE BACKED BY DEFENCE EXPERTS 018 Alexander holds a PhD in Aeronautical Engineering from Sydney University and has over 19 years in the UAS and C-UAS industry. After completing his PhD, Alexander moved to Norway to work for Prox Dynamics as part of the R&D team developing the PD-100 UAV (now the “Black Hornet”), the world’s first nano UAV. He led the development of cutting-edge drone technology at FLIR Systems when it purchased Prox Dynamics. After seven years at Prox Dynamics and FLIR, Alexander returned to Australia to work for Criterion Solutions as the Manager of UAS Operations, developing the Company’s drone related business. Alexander is a co-founder of Boresight and leads its engineering and development activities. Dr Alexander Hall - Founder & Chief Technology Officer James Prior - Vice President Business Development James Prior is an experienced business development leader with over 20 years in aerospace, space, and geospatial sectors. He has a proven track record of driving growth for innovative technology companies, from start-ups to global enterprises. James has led strategic partnerships, commercialization efforts, and market expansion for organizations such as Nova Systems, EOS, and Skykraft—a Canberra-based SME developing advanced space solutions. His expertise spans emerging technologies, complex stakeholder engagement, and building new revenue streams in highly technical markets. Jason Henry - Chief Operating Officer Jason has a long history of operations and service delivery roles across different industry sectors. A former member of the Royal Australian Air Force, Jason has held senior positions with defence industry companies Arkeus and EOS. He has a strong corporate governance background through his position as the Governance and Commercial Manager for RAC Insurance, with other project management and logistics roles rounding out his experience and skills base. 19 CAPITAL STRUCTURE LISTING PRICE $0.20 MARKET CAP PRE-RAISE (fully diluted) $33.8M IPO CAPITAL RAISE $8M POST IPO SHARES ON ISSUE 209M MARKET CAP POST RAISE $41.8M OPTIONS 34.2M* TOP 20 SHAREHOLDERS CONTROL 78.1% *Five year expiry with 25 cent strike price. All dollars are in AU unless otherwise stated The growth of Boresight will come from the investment opportunity 019 TRAIN AGAINST THE FUTURE INVESTMENT HIGHLIGHTS TRAIN AGAINST THE FUTURE EVERY SOLDIER AND EVERY COUNTER-DRONE CAPABILITY MUST PROVE THEY CAN KILL A DRONE 20 Mission: Provide Western militaries with affordable, scalable, and secure counter-drone training solutions to meet the evolving drone threat. Established Market Position: Providers to the Australian Defence Force, US military and other NATO allies – over 6,000 drones sold globally. Compelling Recurring Business Model: Drones are consumables used in annualized training cycles, creating regular, repeat demand. Initial orders are easy to place and scale up rapidly. Competitive Edge: Early-mover advantage, price leadership, and strong customer stickiness. Cost-effective solutions fully designed in Australia and manufactured in Australia and the US, with improving sovereign supply chain and no exposure to “country of concern” data risks. Scalable and Capital-Light: 3D printing allows agile production; transitioning to injection moulding for high-volume needs. US and Australian manufacturing already established; ready to replicate globally. Financial Growth: A$4.36M revenue FY24/25. Current contracts create ongoing opportunities for growth. Blue-Chip Customer Base: Defense primes (Lockheed Martin, Northrop Grumman) and global militaries are existing clients. CONTACT Justin Olde – Managing Director j.olde@boresightuas.com JUNE 2026