Page 1

Press Release ITEM 1 Source : TAT Technologies Limited TAT Technologies Reports Second Quarter 2021 Results GEDERA , Israel , August 5 , 2021 - TAT Technologies Ltd. ( NASDAQ : TATT - News ) ( " TAT ” or the “ Company ” ) , a leading provider of products and services to the commercial and military aerospace and ground defense industries , reported today its unaudited results for the three month and six month periods ended June 30 , 2021 . Key Financial Highlights : • . Revenues for Q2 2021 were $ 21.6 million , an increase of 24 % compared with $ 17.4 million in Q2 2020. Revenues for the six - month period that ended on June 30 , 2021 were $ 39.9 million compared with $ 42 million in the six - month period that ended on June 30 , 2020 . Gross profit for Q2 2021 was $ 3.2 million ( 14.6 % as a percentage of revenues ) an increase of 214 % compared with $ 1.5 million ( 8.7 % as a percentage of revenues ) in Q2 2020. Gross profit for the six - month period that ended on June 30 , 2021 was $ 6.6 million ( 16.4 % as a percentage of revenues ) an increase of 8 % compared with $ 6.1 million ( 14.5 % as a percentage of revenues ) in the six - month period that ended on June 30 , 2020 . Adjusted EBITDA for Q2 2021 was 0.4 million compared with $ 0.0 million in Q2 2020. Adjusted EBITDA for the six - month period that ended on June 30 , 2021 was $ 2.0 million compared with $ 2.5 million in the six - month period that ended on June 30 , 2020 . Net loss was ( $ 2.5 ) million , or loss of ( $ 0.3 ) per diluted share , in Q2 2021 compared with a net loss of ( $ 2.2 ) million , or loss of ( $ 0.3 ) per diluted share , in Q2 2020. For the period of H1 2021 , net loss was ( $ 1.9 ) million , or loss of ( $ 0.2 ) per diluted share compared with a net loss of ( $ 1.8 ) million , or $ 0.2 per diluted share in H1 2020. Net loss for Q2 2021 and for the six - month period that ended on June 30 , 2021 include restructuring expenses of $ 1.9 million and $ 2.4 million , respectively . Mr. Igal Zamir , TAT's CEO and President commented on the results : " As the commercial aviation industry continues to emerge from the deep crisis and the major slow - down during 2020 , we see sequential recovery in the volumes of our MRO activities and related revenues . This trend started in Q1 2021 resulting in improvement in our gross margin and operational cash flow . 3