Welcome to the iAccess Alpha Virtual Best Ideas Winter Investment Conference 2025. The next presenting company is Mobilicom Limited. If you'd like to ask a question during the webcast, you may do so at any point during the presentation by clicking the Ask Question button on the left side of your screen. Type your question into the box and hit send to submit. I would now like to turn the conference over to today's host, Oren Elkayam, CEO and Co-Founder at Mobilicom. Sir, the floor is yours. Thank you very much, and hello to everybody. Thank you for joining us here in United States. As he mentioned, my name is Oren Elkayam. I'm the CEO and founder of Mobilicom, based here in beautiful California. I would like to start the presentation, and after the forward-looking statements and different risk analysis, we will move to the presentation. Let's discuss Mobilicom. First, Mobilicom at a glance is what we do. We are the provider of the critical software, cyber and hardware solution that are the essential elements within drones, robotics, and autonomous platform. Those are the elements that enable the drone to operate, to communicate, to safeguard themselves against different threats. We are the sole and core solutions within drones and robotics. Our uniqueness in the market is coming from two key factors. One is the cybersecurity. We are heavily invested around the cybersecurity, as we believe and see that in this market, like other markets, cybersecurity will be a critical factor going forward. We have it across the board in our different products and as a key differentiation. Second, we are the sole player as an end-to-end provider of critically different elements within the drones and robotics. That sets us apart from other companies. We are selling a variety of solutions to all drones and robotics manufacturers and so forth. The company is founded in 2017, multinational with U.S., Australia and Israeli sites. Traded on the Nasdaq under the ticker MOB, and we have the warrants traded under MOBBW. We do have quite a lot of customers, mainly tier ones across United States, Europe and Israel, which are the leading markets for drones and robotics. In this segment, we are proud of being embedded, integrated, and already within programs that are scaling as we speak. We have patent for our technology, so the entire solution is proprietary technology owned by Mobilicom down to the bit. That's important advantage over competitors in different sessions. With regard to the position of Mobilicom, I think that this slide gives us a good insight on our unique position. As I mentioned, one of the key differentiators of Mobilicom is the fact that we are one-stop shop, end-to-end provider of a portfolio of solutions. If you are looking on drones or robotics in general, you will see that they are made from hundreds of elements inside, but only eight-10 systems within the drones or robotics being cyber, software and hardware, are the crucial elements that cater for 80% of the price. Okay? This is where we are concentrating. You can see those elements in the diagram in front of you. The red segments are the elements that Mobilicom already have and own, and those are the solutions marked in red, which means that we have technology, we have the products, we have customers, and we are embedded in it. Okay? The black ones are elements that we are not yet inside. We do intend to expand to those elements in the future and be more holistic with more solutions as a one-stop shop. Why it's unique? Because offering a comprehensive suite of solution to a market that is ramping up enable us to give an enhanced performance to the overall system. Those that make the drones or robotics buying from one source, multiple elements that were designed to work best with each other and solve them the performance issue, give them much higher security clearance and capability and cyber protection. Bundling price is lower for us, lower for them, and time to market is a great advantage. As the market is accelerating to large volumes and large cycles of innovation and replacement, that will be crucial solutions. In fact, we are very similar to what we see in the automotive industry, where you have car manufacturers that like Audi, Mercedes, BMW, that's much like the drone or robotics manufacturer in our market. Inside the hood, you will find 60% of the solution coming from Bosch or Continental selling to all car manufacturers. Mobilicom is equivalent to Bosch or Continental selling to all drones or robotics, the cyber, the software and the hardware pieces. Where we are focused and what are the challenges that we are solving to the market? On the right side, you can see some of the customers we are serving. Definitely, we can see top-tier players in this industry. The United States DoD or Department of Defense, the Israel Ministry of Defense, and there is different brand name customers that we are integrated with across Airbus, the biggest aviation company worldwide. Teledyne FLIR, a giant American player in the small drones or robotic space. ST Engineering in Asia Pacific, and the three biggest Israeli players worldwide in drones, robotics, and defense. We are proud of that. We also have new customers, Tier ones that are joining us right now, and we'll explain more about it later on. On the left side, we can see some of the challenges we are solving. Cybersecurity being the threat and electronic warfare being the biggest threat right now is in the core competencies and innovation of Mobilicom. Handling and capability to work in harsh environments and contested environments is important. Ability to scale to volume production in relevant pricing model is critical for the evolution of this industry, and we are well-positioned to capture significant market share and lead that revolution because of our performance to size to price offering. We do have all the American regulations on aviation and being chosen by the Blue UAS certification of the Department of Defense, NDAA proven and validated by the DoD for being certified and secured for the U.S. use, trusted cyber and so forth. If we are looking at the growth of Mobilicom, we can definitely see that the growth of Mobilicom will come from three segments going forward, three pillars. One is the current Tier one customers that are moving to mass production. Those are design wins that we entered few years ago, worked with them as the market was in early stages, developed solution, integrated, tested, validated, and so on, which are now getting to the scalability and moving in 2026 to mass production. That's the customers that will allow us to scale forward, and we'll show a few examples of that from the brand names and logos that you've seen earlier. Second growth will come from the fact that new customers, on the back of the success in those programs in the United States and Israel, new customers, new tier ones, and the fact that we are certified for Blue UAS and NDAA and so forth, and are recommended by the U.S. government on the shortlist, are coming to Mobilicom and bundling our solution and designing in, and so we are increasing market share. The third growth will come from our biggest innovation and breakthrough technology in the cybersecurity for AI, robots, and drones. That's all around our OS3 and cyber and software solution that we are leading the market with the first-to-the-market solution with the most advanced solution in the market and based on American standards and regulation. Let's review each one of those and discuss the potential of growth in the coming quarters. One example of currently Tier one players that are working with us is one of the biggest in United States in small size drones or robotics market. It's a customer based in United States, giant serving and delivering drones, robotics, and loitering kamikaze drone solutions. They work with us over the years and chose us over four competitors because of our price, performance, and size. We've done a lot of integration in R&D phases. We've done a lot of certification and being approved as a platform before it can fly and operate and be sold or integrated into projects. They move to commercialization. We've seen a sequence of purchase orders from us that they made in order to enable initial production rates and seeding the markets over the last year and a half. Now we are shifting to phase five, which is the big jump for Mobilicom. This is the home run as they are scaling to mass production. Few things happened recently that enter to this fifth phase, which is the big jump. First, the U.S. decided to shift to mass production of drones, especially small sized drones. In 2026 will be the start in going for that and accelerate later every year. On the back of that decision from the U.S. government, they received an order from this tier one player. We received an order from them, which is $1.6 million for the first deal that's scaling. If the previous orders over the last year and a half were in the hundreds of thousands of dollars, like $200 thousand, $300 thousand, the next one was $1.6 million, showing the jump five times or eight times of the average procurement in order to enable scalability plan in the United States. They were chosen for the Department of Defense SOCOM program of record. They were chosen and finalist for the OPF-L program of record by the Department of Defense, which signaled that they are going to take significant market share in guaranteed budgets with guaranteed programs over the next five to 10 years, and that promised the scalability that we discussed. They built production sites that enable them to start producing from January higher volumes and accelerate from them in order to meet the demand of United States. All of that signals that right now we are in the inflection point of our business based on these customers and others that we will show. Phase six will enable us to cross-sell the cybersecurity software, the electronic warfare software, and others, and by that duplicate or double or triple the revenue per customer per year. One example is volume-based. Just assuming that they are moving to 5,000 or 10,000 units a year, and given the fact that United States wants to move to hundreds of thousands, if not millions later on per year of drones, and they will take a portion of that. Let's assume that they're taking only 5,000-10,000 units a year. 5,000 will generate $20 million roughly to Mobilicom, and 10,000 is $40 million for Mobilicom in revenue on a yearly basis. We can see how one significant tier one player like that working with us and already accelerating to mass production completely transform our company going forward. Let's see. Another example is an Israeli-based tier one player selling worldwide that did the same journey with us. Over here we are embedded with multiple products from our one-stop-shop offering, and that means that we are having a bigger portion of the drone value and more revenue and more growth margin. Over here, they've done the same journey. Now they have made first orders for initial production, and they are shifting, we believe, in 2026 to mass production on the back of European Union investing more in defense and more in drones and loitering munitions, kamikaze drones. They are having large customers across Europe. They are selling to 30 NATO countries, and the new offering that they chose us for in the platform are promoted over there. As Europe is moving from 1% GDP into defense to 4% and 5% GDP into defense, it means that the budget for the next seven years are there, and they're expecting large growth from there. As they are growing, we are growing with them. Working with the biggest tier players worldwide, and definitely in the biggest markets, U.S., Europe, and Israel, is enabling us the best opportunity to scale to large quantities, large deliveries, and then gross margin. The next growth for the company, as we mentioned, will come from additional players that chose Mobilicom. We've seen here that the fact that we've been U.S. Department of Defense or DIU under that chosen solution, one of the few companies chosen in our field, gives us the credibility and signal to the market that they can trust and use Mobilicom as a recommended company. That led to the fact that we are now seeing more integration and more approach by additional tier ones, and that facilitates and accelerates more adoption and bigger market share. That's part of additional players joining us as we speak and integrating. We believe that they will complete their integration and be ready with our solution and adoption of cybersecurity. Being leaders in the market with the technology and product based on our own IP. Bear in mind that that will also introduce higher gross margin. If the hardware elements are 60% growth margin, roughly, the cyber and software are closer to 90%, which will accelerate even further the growth of the company and profitability. That's a big regulation that was issued a few weeks ago, and that's a pivotal stage for the company because our innovation of the cybersecurity over here and leading the Secured Autonomy solution for the company is critical for the growth of the company. That's another catalyst for additional growth in 2027. Summarizing the verticals of all the pillars of growth, we have existing customers moving into mass production, followed by additional new design wins and new customers from the tier one that are joining us. Then the innovation of Secured Autonomy and cybersecurity based on the new U.S. regulation that enforced DoD IT by timetable, which is very aggressive and short, to choose partners now, and Mobilicom being first in the market, is in great opportunity to capture this end market. Few additional deliveries that we've made recently. One, shifting to ordinary share, which was important for Mobilicom. That began commencement on Monday this week. It's a delivery that we worked on for the last six months. Now that we are ordinary share traded on the Nasdaq, it enabled more volume, it enabled more investors to buy the share. It enabled ETFs and indexes to include Mobilicom as we are moving forward. All of that is very positive for shareholders and the company itself, and it will help us increase the volumes and increase the market cap. That's important milestone that we achieved recently. The capital structure. There are updates from September 2025 were released in October or beginning of November, sorry. We have outstanding shares of 12 million right now shares. It's not ADS anymore. We have additional 2.8 million warrants with a strike price which is in the money under $5, and that can bring us additional funds once exercised, about $14 million. Fully diluted, we have 14.8 million shares on the Nasdaq. We are solely traded on the Nasdaq. We have close to $18 million cash in hand. Remember that we have a very low burn rate, which is around $300,000 a month, which is less than $4 million a year, which brings us to a very long path to execute and reach to cash flow positive and enjoy the growth that is expected in the coming quarters based on the items that we reviewed earlier. Thanks to the fact that we have no bank debt, no loans, no convertibles, we are in a very great position to move to cash flow positive faster and then exploit the high rise of the drones and robotics market. To summarize the opportunity, Mobilicom is a company that owns a significant IP and know-how in the cybersecurity of drones for robotics and defense tech in the crossroad of those markets. We have products that are in the market, proven and certified and recommended by the Department of Defense in the U.S. We have customers that are already using that, including large tier ones around the world. They are already scaling in production. We have new innovations around the cybersecurity and Secured Autonomy where we lead the market. Regulation is pushing the customers forward for that. That fact that we are working with blue-chip companies that are scaling with a very strong position or financial position to allow the growth and reach the cash flow positive and grow even faster on the back of cybersecurity software licensing model with high gross margin, is a lucrative opportunity unseen in the market right now. This is Mobilicom, and now we can move to the Q&A. The first question that was asked is what visibility do we have to 2026 order flow from the tier ones of the U.S. defense customers? I think that if you asked me that question a few months ago when we've been in the shutdown, it was harder to answer. Right now after the shutdown and additional milestone that will be announced soon, we can say that we have much larger visibility, and we are very optimistic from the scalability of our tier one American customers that are winning more programs. Based on that and POs that they received, they're expecting to scale. We believe that that will be a ripple effect because not only that they won significant programs and purchase order from the government that will then flow to us, but also they have, most likely U.S. would like to move faster and U.S. is speaking about doing 100 times or 50 times at least more than what they've done. If the market is going to ramp up and we have the solution and integrated into programs that are already accelerating, it's great for what we expect. We see their manufacturing starting from January 2026. Another question is, what we see as signals of demand from the Department of Defense or Department of War regarding cybersecurity regulation. All the new bids that are coming have different cybersecurity requirements. It's clear that electronic warfare and cybersecurity against the communication and against the AI platforms based on Nvidia and Qualcomm are making it a very important subject. We've seen the same revolution in other places. The new bids are coming with cyber requirements. There is a document they're referring to that our solution are helping to address that. The new regulation that was just recently released is a pivotal change because that will enhance the requirements around active online cybersecurity with a deadline which is now placed around September 2027. Which doesn't give them much time to move and develop them by themselves. They will most probably go for buy versus make. The only alternative that finally exists for small-sized drone that can meet the requirement of active online dynamic cybersecurity is currently Mobilicom. That's amazing. There is a pandemic that is going to happen, which is pushed by the regulation, and the only vaccine on the market, as the analogy, is currently Mobilicom. How many additional tier one partners do you expect to add in 2026? That's a great question. In Q3, we've discussed that opportunity. In the Q3 company discussion with investors and webinar, we said that in 2025, we had 6 total tier one customers. Two were in the R&D designing phase and four in the initial production and seeding the market. In 2026, we believe that we can get to anywhere between eight-10 tier one customers, with two in mass production and scaling, and three-four in initial production, and additional three-four in designing. We are increasing, as we speak, additional designs with new platforms of tier ones, and that's according to our expectation. To grow significantly on the number of tier ones, the big player that most likely will win the biggest programs of their governments around the world. We focus on United States, Europe, and Israel. In addition, we believe that in 2026, two of our partners, one, two, will win programs of record, which guarantee five, 10 years of constant buys, and that's part of the process we see through 2026. On the cybersecurity and software, we believe that we can scale to four-six strategic partners, Nvidia and Qualcomm AI-based partners, and two additional software strategic partners. That will also build the growth vector for 2027 to be a company with a solid cyber and software revenue and leadership in these markets. Another question that was raised is, what is the level of recurring revenue is expected by cybersecurity and software? As we mentioned, the ICE electronic warfare software that we have today, the OS3 cybersecurity for the Nvidia and Qualcomm AI machines, and the cloud solution will be the three pillars of our licensing model, and that will be a recurring revenue, especially in the commercial market. We have the defense market, but we believe that also the commercial will scale. In addition to that, we have to remember that the small size drones, robotics, and loitering munition are elements and systems that will not last more than three years on average. Which means that in the business itself, there is procurement just to replace those platforms that were damaged or bruised very fast or destroyed immediately if it's a loitering kamikaze drone. It's a one-way ticket drone. The recurrence is coming from the fact that small-sized robots and drones are inherently limited in their time life, and in addition to the software that we have and cyber, which even take it further. Another question was on Mobilicom's biggest competitive advantage. As we mentioned, cybersecurity across the board for the electronic warfare of the communication, for Secured Autonomy of the future of any autonomy of those drones or robots, is the critical differentiation factor of Mobilicom and market leadership. Second is the fact that we are a one-stop shop for different hardware, software, and cyber, which there is no other equivalent company with that strategy on the market, which has the technology IP, product in market, and customers already in place, which are scaling. Another question was how U.S. tariffs and geographic trade policies affect your cost structure or pricing. There is two items. One is the software and cyber, which tariffs do not apply, as we understand, for the software and cyber, and that therefore it's best, because those are applicable for the hardware. Second, for the hardware elements which we are having, which are actually hardware elements with a lot of software inside, we have few opportunities. We are able to produce in the United States, Israel, and the Philippines. For the U.S. market, we intend to produce more and as needed in U.S. soil to avoid the tariffs for that market and enable the customer the flexibility that they need and have a U.S.-made solution from a U.S. company operating here and certified by the government. The reverse split. There was a question about the reverse split. I would like to emphasize that the reverse split do not affect the U.S. market and the Nasdaq listing. The trading on the Nasdaq of ADRs will cease instead of ADR. It's already shifted this Monday to share trading. The Australian shares that the company is based on, those were reverse split in Australia. No effect on U.S., none whatsoever. It just represents 1:1 ratio between the Australian company shares to the Nasdaq-traded shares over here of the Australian company. The reverse split already happened in Australia to clean and make it much more transparent and easy. Nothing is affecting the Nasdaq, and the Nasdaq is on from Monday, traded on shares and not ADR. Which is another delivery on our promises to make it more transparent, easy to trade, and accessible to all investors, including passive ETFs and indexes. Any more questions? We don't have more questions. I would like to thank you all for joining the session today, and you're welcome to approach Liat Caner and myself, Liat is the head of finance, and myself on any question you have. Come and meet with us tomorrow. I'm not sure if there are slots open, but we'll be glad to meet with investors. Thank you very much. Thank you. That concludes Mobilicom Limited's presentation. You may now disconnect. Please consult the conference agenda for the next presenting company.