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WEST HOLLYWOOD, Calif., Aug. 21, 2025 /PRNewswire/ -- VisionWave Holdings, Inc. (Nasdaq: VWAV) ("VisionWave" or the "Company"), a U.S.-based defense technology company specializing in advanced imaging, autonomous systems, and its proprietary Evolved Intelligence (EI) powered threat detection, today announced meaningful progress in its engagement with India's evolving defense modernization landscape.

The Company has initiated exploratory discussions with leading defense entities and system integrators in India with the goal of obtaining multi-year procurement and battlefield technology upgrade programs.

According to SIPRI 2024 and India's latest Union Budget 2025-26, India represents one of the world's largest and fastest-growing defense markets, with annual expenditures exceeding $80 billion and modernization initiatives projected at more than $250 billion this decade. VisionWave believes its platform and EI core technologies, which is built around real-time autonomous threat detection, super-resolution radar, and advanced sensor fusion, are strongly aligned with India's strategic goals of enhancing armored mobility, force survivability, and indigenous defense capabilities as part of its next-generation active protection and counter-UAS solutions.

The opportunities under discussion are aligned with armored fleet upgrades and innovation initiatives and include:

• Integration of VisionWave's modular counter-UAS solutions and proprietary detection systems into next-generation armored platforms, delivered as part of the VisionWave Tactical Active Protection System (T-APS);
• Participation in demonstration trials of counter-UAS solutions with integrated detection systems under India's battlefield innovation initiatives;
• Retrofitting VisionWave's Tactical Active Protection System (T-APS) to strengthen force protection and survivability across legacy armored fleets.

To support these initiatives, VisionWave has executed a mutual non-disclosure agreement with a domestic Indian defense partner and is in advanced discussions seeking to enter into a memorandum of understanding (MoU) to govern future collaboration. In parallel with its ongoing live-fire trial program in Abu Dhabi, which is scheduled for September 2025, VisionWave is evaluating the feasibility of a similar live demonstration in India, subject to regulatory coordination and program readiness.

"India is a strategically important market for VisionWave, and we are committed to supporting its defense innovation objectives with our scalable, proprietary, EI-driven technologies," said Noam Kenig, CEO of VisionWave. "We see growing demand for Active Protection Systems, counter-UAS capabilities, the elimination of incoming threats, and real-time sensing 鈥� all areas where VisionWave maintains a clear technological edge."

This initiative directly aligns with VisionWave's previously disclosed strategic roadmap. As noted in the Company's most recent SEC filings:

"The Indian Ministry of Defense is working with Target to install and deploy its solutions along India's borders. This engagement is structured as a 10-year agreement to provide Target's solutions and ongoing services. As part of this initiative, Target anticipates establishing manufacturing facilities in India, enabling a substantial long-term partnership and large-scale deployment."
(Source: SEC filing, VisionWave S-4/A Prospectus, Page 170)

VisionWave remains committed to advancing international partnerships that align with its mission to deliver dependable, real-time, and life-saving technologies to defense and security forces worldwide.

About VisionWave Holdings Inc.

VisionWave Holdings Inc. (Nasdaq: VWAV) is a U.S.-based defense technology company advancing next-generation battlefield capabilities through EI-powered sensing platforms and autonomous defense systems. Leveraging proprietary super-resolution radar, multispectral, and radio-frequency imaging technologies, VisionWave provides real-time threat detection, enhanced force survivability, and superior decision-making across air, land, and sea domains.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Combined Company, VisionWave Holdings' ability to scale and grow its business, the advantages and expected growth of the Combined Company, the Combined Company's ability to source and retain talent, and the cash position of the Combined Company following closing of the Business Combination, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of VisionWave Technologies' management and are not predictions of actual performance.

These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of BNIX, VisionWave Technologies and VisionWave Holdings believes that it has a reasonable basis for each forward-looking statement contained in this press release, each of BNIX, VisionWave Technologies and VisionWave Holdings cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the definitive proxy statement/prospectus mailed to BNIX stockholders, and filed by the Combined Company with the SEC and other documents filed by the Combined Company or BNIX from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. BNIX, VisionWave Technologies and VisionWave Holdings cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to recognize the anticipated benefits of the Business Combination, costs related to the Business Combination, the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination, the outcome of any potential litigation, government or regulatory proceedings, and other risks and uncertainties, including those to be included under the heading "Risk Factors" in the definitive proxy statement/prospectus mailed to BNIX stockholders, and those included under the heading "Risk Factors" in the annual report on Form 10-K for the fiscal year ended December 31, 2024, of BNIX and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that BNIX, VisionWave Technologies and VisionWave Holdings presently do not know or that the parties currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of BNIX, VisionWave Technologies and VisionWave Holdings as of the date of this press release. Subsequent events and developments may cause those views to change. However, while BNIX, VisionWave Technologies and VisionWave Holdings may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of BNIX, VisionWave Technologies and VisionWave Holdings as of any date subsequent to the date of this press release. Except as may be required by law, BNIX, VisionWave Technologies and VisionWave Holdings do not undertake any duty to update these forward-looking statements.

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