WICHITA, Kan., May 17, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), a leading provider of a unified line of industry trusted drones, sensors and software, today announced its financial results for the three months ended March 31, 2022.

Financial Highlights for the Comparable Three-Month Periods Ended March 31, 2022 and March 31, 2021

• Revenues climbed 126% to $3.84 million compared to $1.70 million.
  • The increase was attributable to sales of eBee drone products and software subscriptions related to the HempOverview and Ground Control platforms, offset by lower revenues reported for the Company’s sensor products. The decline in sensor sales was caused by ongoing global supply chain issues primarily affecting delivery of nearly $1 million in purchases for new Altum-PT ™ and RedEdge-P™ sensors.
  • AgEagle’s global market penetration efforts have resulted in the Company expanding its geographic footprint. Revenues generated in specific geographic regions during the first three months of 2022 were 46% in North America; 41% in Europe, Middle East and Africa; 12% in Asia Pacific and 1% in other regions worldwide.
• Gross profit margin on sales was 36% compared to 63% in the prior year period. The decline was due in part to supply chain challenges increasing the cost of components, inflation and adverse labor market conditions; and the continued shift and expansion of product offerings relating to the Company’s acquisitions of MicaSense, Measure and senseFly in the prior year.
• Net loss was $7.58 million compared to $2.93 million. The overall increase in net loss was primarily attributable to greater operating costs resulting from the Company’s acquisitions of Measure and senseFly in 2021.
• The Company’s cash position was $9.19 million as of March 31, 2022, and stockholders’ equity was $78.37 million, which compared to cash on hand of $14.59 million and stockholders’ equity of $76.58 million as of December 31, 2021.
  • During the three months ended March 31, 2021, the Company raised an additional $4.58 million through its ATM Offering with co-agents Stifel Nicholas & Company, Incorporated and Raymond James & Associates, Inc.

Commenting on the results, Nicole Fernandez-McGovern, Chief Financial Officer and Executive Vice President of Operations at AgEagle, said, “We are pleased with the growing global demand from our network of over 150 resellers and from direct customers for AgEagle’s expanding line of drones, sensors and software solutions. However, supply chain challenges and inflationary pressures impacted our ability to convert order book sales into reported revenues during the first quarter of this year. We do expect to alleviate our current supply chain issues as we progress through the year through innovation and access to alternative supply channels worldwide. Despite the supply chain challenges impacting the start of the year, we continue to believe that 2022 will prove to be a record year of organic growth for AgEagle.”

Recent and First Quarter 2022 Operational Highlights

• In January, AgEagle’s Board of Directors reappointed Company Chairman Barrett Mooney as AgEagle’s CEO. Subsequent to the end of the first quarter, the Company expanded Michael O’Sullivan’s role with his appointment as Chief Commercial Officer and promoted Edouard Rosset to Executive Vice President of Technology. This expansion of AgEagle’s executive team with seasoned professionals is helping to grow AgEagle’s global operations and establish a strong management foundation for the future.
• In March, AgEagle’s award-winning, NDAA-compliant eBee TAC™ Unmanned Aerial System completed required testing, evaluation and demonstration processes pursuant to the U.S. government’s Blue UAS project and was approved by the Defense Innovation Unit for procurement by the U.S. Department of Defense, including all branches of the military and other federal government agencies. As a result, dozens of eBees have been purchased and shipped to government/defense agencies worldwide for use in providing military ground forces with vital, high-resolution geographical intelligence in tactical environments.
• Orders for AgEagle’s newest multispectral sensors, the Altum-PT and the RedEdge-P have continued to climb, with nearly $1 million in units expected to be shipped (and revenues booked) in the coming quarters.
• For the past several quarters, AgEagle’s software development and engineering teams have also remained focused on introducing key new and enhanced technological features and capabilities for Measure Ground Control. In May, the Company announced details relating to these new features and capabilities and is experiencing a notable increase in global interest in the platform from prospective new and current customers serving the Energy, Infrastructure, Agriculture and other commercial industry sectors worldwide.

Growth in the global drone industry remained robust in the first quarter of 2022, resulting in a number of respected industry research firms predicting highly dynamic market growth ahead. For instance, in Drone Industry Insights’ Drone Application Report 2022, researchers note that the commercial drone market, in particular, will generate over $41.30 billion by 2026, growing at a Compound Annual Growth Rate of 9.4% with top commercial drone applications being in Energy, Construction and Agriculture, and the most popular application methods being mapping & surveying and inspection.

AgEagle Chairman and CEO Barrett Mooney, stated, “Our first quarter results reflect the emphasis we have placed on pioneering new research and development, and on addressing the current market challenges with launching new innovative products. We continue to execute on our key strategic growth initiatives designed to position AgEagle as a trusted and reliable source for an even broader line of autonomous robotics solutions and services moving forward. There is prevailing demand for our products quantified by the volume of orders we continue to receive. I am confident in the groundwork we have laid over this last quarter in creating a solid foundation for continued growth this year.”

For more details relating to the Company’s first quarter 2022 results, please refer to the 10-Q filed with the U.S. Securities and Exchange Commission and accessible at www.sec.gov or on AgEagle’s website at www.ageagle.com.

Corporate Update Webcast
Given AgEagle’s leadership team recently held a corporate update webcast on April 12, 2022, the Company will not be holding an update webcast to discuss its financial results for the first quarter ended March 31, 2022. AgEagle’s leadership team anticipates holding a corporate update webcast in August 2022 when the Company expects to report its financial results for the second quarter ended June 30, 2022.

About AgEagle Aerial Systems Inc.
AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for commercial and government customers worldwide. For additional information, please visit our website at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

WICHITA, Kan., May 13, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced new and enhanced technological features and capabilities of Measure Ground Control, helping to drive greater value from autonomous drone operations for enterprise customers and professional drone service providers spanning a wide range of industries.

Offered as Software-as-a-Service, Measure Ground Control continues to earn the trust and fidelity of its blue chip, industry-diverse customers by providing a single platform to automate flight management systems safely and securely; easily manage drone programs of any scope and scale; and process, analyze and share drone-captured image data and visualization necessary for assessing risks, improving workflow processes and achieving time and cost efficiencies across enterprises of virtually any size. With the aim of empowering AgEagle’s customers to readily extend their reach and human capability through adoption of scalable autonomous drone programs, Measure Ground Control users can:

• Plan missions via KML files or build a grid or waypoint flight; check airspace for LAANC authorization and confirm local weather conditions are favorable.
• Fly with GPS-aided manual control or automated grid and waypoint patterns, and push web-based flight plans to mobile devices for ground-based in-field control – all with a simple, easy-to-use flight interface.
• Capture raw data and live streaming field images with multispectral cameras, like AgEagle’s RedEdge-P™ and Altum-PT™, and automatically convert into organized map indices and composites; or fly an RTK-enabled drone for improved post-flight processing.
• Process captured imagery into high-quality data products and photogrammetry, and create orthomosaics, digital surface models and contour maps; or upload GCPs with user’s maps for increased accuracy.
• Analyze drone data or view orthomosaics and other 2D data files on an interactive, account-wide map.
• Collaborate and support operations with detailed information about missions, including flight logs with screen shots, playbacks and incident flagging; and efficiently manage equipment and workflows with automatic usage tracking capabilities.
• Benefit from Measure Ground Control’s obsession to deliver industry-leading, customer-centric support and service.

While AgEagle’s origins are rooted in Agriculture, its ‘Ag’ distinction now more closely correlates to the Company’s ‘agnostic’ approach to serving the global autonomous robotics industry through delivery of solutions that help its customers achieve specific goals and objectives from their respective drone operations.

“Ground Control was literally built from the ground-up, working closely with customers to intimately understand their unique needs, frustrations and challenges and to solve real human problems. As a result, our performance-driven software platform avails scalable, autonomous drone programs that are incredibly easy to deploy and manage and from which our customers’ can aggregate vast amounts of data and deep insight necessary to make important, well-informed decisions in their day-to-day business operations – be it an Energy, Infrastructure, Agriculture or other commercial enterprise,” stated Barrett Mooney, Chairman and CEO of AgEagle.

Continuing, Mooney said, “Ground Control can be readily and affordably integrated into existing processes and IT systems – and integrated with the latest advancements in drone hardware, sensors and tools – facts which we view are central to our software’s ultimate value proposition for current and future customers. Moreover, in addition to our working towards ensuring that Ground Control works seamlessly with AgEagle’s growing line of US government approved fixed wing drones and sensors, we also welcome opportunities to collaborate with other leading drone solutions companies on integration initiatives to help push the limits of autonomous flight in industries where commercial drone programs are having pronounced impact on business economics, workforce safety and workflow efficiencies.”

Measure Ground Control is currently compatible with DJI’s Inspire, Mavic, Matrice, Phantom and Spark branded drones; as well as Parrot’s Anafi, Anafi Thermal and Anafi USA drones. Native U.S.-made apps, equipment and other tools supported by Ground Control include RedEdge-MX, Wing’s Open Sky, Pix4D, Scopito, AirMap, Azure and AWS storage servers. Ground Control also provides for a robust API that allows for the integration of many other in-house programs and third party solutions, including ESRI (ArcGIS), QGIS, Power BI, Salesforce, CHEQROOM and others.

For sales information on Measure Ground Control or to discuss collaborative technology integration opportunities, please contact sales@measure.com.

About AgEagle Aerial Systems Inc.

AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture and government verticals. For additional information, please visit our website at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

AgEagle Aerial Systems Contacts:

WICHITA, Kan., May 11, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced that Company representatives will be exhibiting in the upcoming MundoGEO Connect 2022 conference to be held at the Frei Caneca Convention Center in Sao Paulo, Brazil next week on May 17-19, 2022.

AgEagle subsidiaries, MicaSense and senseFly, will be showcasing the Company’s latest advancements in sensors and drone systems, including MicaSense’s revolutionary Altum-PT ™and RedEdge-P™ multispectral sensors and senseFly’s eBee-X™ and NDAA-compliant and Blue UAS-approved eBee-TAC™ fixed-wing unmanned aerial systems.

The MundoGEO Connect 2022 event will bring together manufacturers and importers of drones and geomatics equipment, embedded technology, data processing platforms, orbital data providers, systems developers and service providers, regulatory bodies, universities, startups, and both public and private users of these technologies. This event is aimed at service providers and users in the areas of Agriculture, Forestry, Environmental, Smart Cities, Defense, Energy, Highways, Railways, Ports, Airports, Mining, Oil and Gas and Security, among others.

NOTE TO MEDIA: To book interviews with key AgEagle officials in attendance at the conference, please send an email to media@ageagle.com for immediate scheduling.

About AgEagle Aerial Systems Inc.

AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture and government verticals. For additional information, please visit our website at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

AgEagle Aerial Systems Contacts:

Investor Relations: Media Inquiries:
Gateway Group, Inc. media@ageagle.com
Matt Glover or Cody Cree
Phone: 949-574-3860
Email: UAVS@gatewayIR.com

WICHITA, Kan., May 03, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), a leading provider of a unified line of industry trusted drones, sensors and software, announced that demand for its NDAA-compliant, award-winning eBee TAC™ Unmanned Aerial System (UAS) has been increasing with shipments to and training of U.S. and NATO forces in the United States and Europe currently underway.

The eBee TAC was the first approved drone to be added to the Department of Defense’s Defense Innovation Unit’s Blue UAS Cleared List as part of the Blue sUAS 2.0 project. Since the announcement in March 2022, demand for the eBee TAC has been climbing. senseFly, an AgEagle company and pioneer of the proprietary eBee line of fixed wing drones, along with its partners, have been actively demonstrating the eBee TAC’s powerful capabilities at recent industry trade shows and special events, amplifying awareness of the eBee TAC and fueling dynamic growth of government sales.

eBee TAC is available for purchase by U.S. government agencies and all branches of the military on GSA Schedule Contract #47QTCA18D003G, supplied by Hexagon US Federal and partner Tough Stump Technologies as a standalone solution or as part of the Aerial Reconnaissance Tactical Edge Mapping Imagery System (ARTEMIS). Tough Stump is currently actively training military ground forces based in the U.S. and in Central Europe on the use of eBee TAC for mid-range tactical mapping and reconnaissance missions.

According to Tough Stump CEO Jarrett Heavenston, “With 133 eBees now in active service and dozens more scheduled to be deployed in coming months, real world applications of the eBee-enabled ARTEMIS platform are providing military ground forces with vital, high resolution geographical intelligence right at the tactical edge. As a result, demand for eBee TAC drones and the ARTEMIS platform is gaining notable momentum and should result in accelerating sales to both U.S. and NATO forces as we advance through the year.”

Last week, the eBee TAC was showcased at the Association for Uncrewed Vehicles Systems International (AUVSI) annual XPONENTIAL conference in Orlando, Florida. In addition to the eBee TAC receiving an XCELLENCE in Technology award in the Hardware and Systems Design category, AgEagle representatives hosted numerous meetings and product discussions with key officials from several U.S. government agencies, including the U.S. Department of Defense, Defense Innovation Unit and U.S. Department of Homeland Security, among others. The eBee TAC also took centerstage at the USGIF GEOINT Symposium 2022, held in Aurora, Colorado last week, as part of a featured presentation by Director of the National Geospatial Intelligence Agency, Vice Admiral Robert D. Sharp.

Barrett Mooney, Chairman and CEO of AgEagle, stated, “Participation in industry events such as AUVSI and GEOINT are fueling notable sales interest in the eBee TAC, as well as AgEagle’s full line of industry leading drones, sensors and software solutions for both commercial and government use. Moreover, our in-market growth drivers continue to perform well across geographies worldwide. Looking ahead, we intend to remain focused on converting leads into customers and on continued investing in innovation to meet the needs of our expanding global customer base spanning a broad range of industries. All things considered, 2022 could prove to be a watershed year for AgEagle.”

Designed for stealth and collection of high precision imagery and data analysis, the rugged, lightweight eBee TAC is a hand-launched fixed wing tactical mapping UAS, is easily transportable, can be safely deployed in under three minutes by a single person, has a maximum flight time of approximately 90 minutes, over 34 miles in range, can fly in silent mission mode, and be operated without waiver. Each eBee TAC system features a NDAA-compliant drone, range of sensors and active components, Blue sUAS registration, Secure Extension, Endurance Activation, AES256-bit encryption, pixel camouflage and comes in an IP67 hard transport case. Government sales inquiries regarding the eBee TAC should be directed to gov@sensefly.com.

About AgEagle Aerial Systems Inc.
AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for commercial and government customers worldwide. For additional information, please visit our website at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e03dbd44-0d9c-48d1-ae13-9a65cd5781eb

WICHITA, Kan., April 28, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced that the Company was named the third place winner in the Hardware and Systems Design category of the XCELLENCE Awards by the Association for Uncrewed Vehicles Systems International (AUVSI) for its eBee TAC™ Unmanned Aerial System (UAS). AgEagle was selected from a pool of accomplished applicants for their work in uncrewed systems technology. Winners were publicly congratulated during the Technology Innovation XCELLENCE awards ceremony during AUVSI XPONENTIAL on Wednesday, April 27 in Orlando, Florida.

Barrett Mooney, Chairman and Chief Executive Officer of AgEagle, stated, “We are very proud that our eBee TAC continues to earn such high industry praise and recognition for its technological innovation and powerful capabilities. It is a direct reflection of the hard work and engineering skill of our team which remains obsessed with delivering advanced autonomous robotics solutions that set the bar for excellence and high performance.”

Following a decade of development by senseFly, an AgEagle company, eBee-branded drones have been the best-selling commercial fixed wing UAS in the U.S. over the past three consecutive years, according to data supplied by the U.S. Federal Aviation Authority (FAA). Recently Blue UAS approved for procurement by the U.S. Department of Defense and other government agencies, the NDAA compliant eBee TAC operates in disconnected environments, providing a higher accuracy mobile solution to map and locally share aerial imagery data on rapidly changing field conditions to analyze and provide near real-time situational awareness to ground forces. Weighing only 3.5 pounds and featuring a digital camouflage skin for increased stealth and up to 90 minutes flight time and silent mission mode, the eBee TAC can be rapidly deployed, from assembly to hand-launch, in three minutes by a single user to generate 3D modeling, terrain and thermal maps.

“During AUVSI’s 50th anniversary year, we are celebrating the accomplishments of the uncrewed systems industry within the last half-century, reflecting on lessons learned, and looking ahead to our vision for the future,” said Brian Wynne, President and CEO of AUVSI. “The 2022 XCELLENCE award winners represent some of the leading innovations and organizations that will help us reach our shared vision of assured autonomy.”

The AUVSI XCELLENCE Awards honor innovators with a demonstrated commitment to advancing autonomy, leading, and promoting safe adoption of uncrewed systems and developing programs that use these technologies to save lives and improve the human condition. For more information about AUVSI visit AUVSI.org. For more information about the AUVSI XCELLENCE Awards and XPONENTIAL 2022, visit xponential.org.

About AgEagle Aerial Systems Inc.
AgEagle is a global UAV industry pioneer engaged in delivering a unified line of high-performance drones, sensors and software that have earned the longstanding trust and fidelity of customers in more than 70 countries worldwide. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in a broad range of commercial verticals, as well as for U.S. government agencies, all branches of the U.S. military and allied nations. For additional information, please visit our websites at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

WICHITA, Kan., April 21, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced that the Company will be exhibiting at AUVSI XPONENTIAL 2022 to be held next week, April 25-28,2022, in Orlando, Florida. Located in booth #2001, AgEagle will be showcasing its unified line of industry-trusted, high performance drones, sensors and software solutions.

The Association for Uncrewed Vehicle Systems International (AUVSI), the world’s largest nonprofit organization dedicated to the advancement of uncrewed systems and robotics, represents corporations and professionals from more than 60 countries involved in industry, government and academia. As the largest, most significant annual event for the unmanned systems industry, AUVSI XPONENTIAL 2022 is where thousands of the industry’s top minds will gather to cultivate collaboration, spark new ideas and work to build the future of autonomy.

DETAILS AT A GLANCE:

NOTE TO MEDIA: To book interviews with key AgEagle officials in attendance at the conference, please send an email to media@ageagle.com for scheduling.

About AgEagle Aerial Systems Inc.
AgEagle is a global UAV industry pioneer engaged in delivering a unified line of high-performance drones, sensors and software that have earned the longstanding trust and fidelity of customers in more than 70 countries worldwide. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in a broad range of commercial verticals, as well as for U.S. government agencies, all branches of the U.S. military and allied nations. For additional information, please visit our websites at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

AgEagle Aerial Systems Contacts:

WICHITA, Kan., April 14, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced two key appointments to the Company’s Executive Leadership Team as part of AgEagle’s efforts to optimize skillsets and functionally align the management of its growing global operations. Reporting directly to AgEagle Chairman and CEO Barrett Mooney, Michael O’Sullivan‘s current role as Managing Director of the Company’s operations in Lausanne, Switzerland, has been expanded with his appointment as AgEagle’s Chief Commercial Officer. In addition, Edouard Rosset, Head of Research and Development and Head of Operations in Lausanne, has been promoted to Executive Vice President of Technology.

O’Sullivan originally joined AgEagle in October 2021 upon the Company’s acquisition of senseFly and was promptly appointed as Managing Director of the subsidiary. At senseFly, he was responsible for managing business operations and leading integration efforts with AgEagle to grow its global footprint. Prior to the acquisition, he served as Head of Global Marketing for senseFly, responsible for overseeing all facets of marketing and business strategy, product management, technical support and training. O’Sullivan brings AgEagle more than two decades of proven leadership and global sales and marketing experience managing key growth initiatives for companies in a variety of industries, including advanced technology and drone markets.

Prior to the acquisition of senseFly by AgEagle, Rosset served as Chief Technology Officer of senseFly where he led the design, engineering and development of senseFly’s pioneering line of e-Bee-branded fixed wing drones. Previously, he spent eight years at Parrot, a leading European drone group offering equipment, services and software. While at Parrot, he served as an R&D engineer and rose through the ranks to ultimately become Propulsion Team Leader. As AgEagle’s newly appointed Executive Vice President of Technology, Rosset is tasked with guiding and directing AgEagle’s global product research and development operations.

“As part of AgEagle’s mission to offer customer-centric, advanced autonomous solutions that drive revenue at the intersection of sensors, flight hardware and software, we believe it is essential that we build an organization which can execute, amplify and propel our business-building strategies forward. These key executive appointments reflect our confidence in Michael’s and Edouard’s proven skill to lead key aspects of our business that are vital to AgEagle’s growth trajectory,” stated Mooney.

About AgEagle Aerial Systems Inc.
AgEagle is a global UAV industry pioneer engaged in delivering a unified line of high-performance drones, sensors and software that have earned the longstanding trust and fidelity of customers in more than 70 countries worldwide. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in a broad range of commercial verticals, as well as for U.S. government agencies, all branches of the U.S. military and allied nations. For additional information, please visit our websites at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

AgEagle Aerial Systems Contacts:

WICHITA, Kan., April 12, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions for commercial and government/defense use, today announced its financial results for the full year ended December 31, 2021.

Financial Highlights for the Twelve Months Ended December 31, 2021 Compared to Prior Year

• Total revenues rose 659% to $9.76 million from $1.29 million, due largely to revenue contributions from companies acquired by AgEagle during 2021, which included MicaSense, Measure Global and senseFly.
• Gross profit margin was 44% compared to 45%.
• Net loss available to common stockholders totaled $30.18 million, or $0.43 loss per share, compared to a net loss available to common stockholders of $14.04 million, or $0.35 loss per share in the prior year.
• Cash on hand at December 31, 2021 was $14.59 million compared to $23.94 million as of December 31, 2020.
  • In January 2021, AgEagle raised net proceeds of $6.32 million in a registered direct offering with an institutional investor.
  • During the period from May 29, 2021 through December 31, 2021, the Company raised approximately $30.87 million in net proceeds at stock prices between $5.00 and $6.30 per share through its ATM Offering with co-agents Stifel, Nicolaus & Company, Incorporated and Raymond James & Associates, Inc.

For more detailed information on AgEagle’s 2021 financial results, please refer to the 10-K filed with the U.S. Securities & Exchange Commission, accessible at www.sec.gov or on AgEagle’s website, www.ageagle.com.

2021 Operational Highlights

• During 2021, AgEagle successfully completed three strategic acquisitions: MicaSense in January, Measure Global in April and senseFly in October. These acquisitions served to transform the Company into one of the industry’s leading producers of UAS airframes, sensors and software for broad commercial and government/defense use. These acquisitions also brought AgEagle a highly valuable workforce comprised largely of engineers and technologists with deep expertise in the fields of robotics, automation, manufacturing and data science.
• In June, AgEagle was added to the Russell 3000^® Index, which is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
• In October, the Company’s eBee TAC Unmanned Aerial System was named to the Blue UAS 2.0 list by the Department of Defense’s Defense Innovation Unit (DIU). Subsequent to the end of 2021, the eBee TAC completed all required testing, evaluation and demonstration processes and was the first approved drone to be added to the DIU Blue Cleared List, providing clearance for procurement by the U.S. Department of Defense, including all branches of the military, as well as other federal government agencies and its allied partners.
• In October and November, AgEagle launched the next generation of its legacy RedEdge™ and Altum™ branded sensors with the introduction of the RedEdge-PT™ and the Altum-P™, representing revolutionary leaps forward in multispectral technology featuring ultra-high resolution panchromatic imaging capabilities. Global demand for the Company’s new sensors is proving to be very strong and should be key to drive AgEagle’s growth in 2022.
• In November, the Company teamed with Wing, an Alphabet subsidiary, to integrate Wing’s OpenSky airspace access app into AgEagle’s Ground Control software solution.
• Earlier in the year in 2021, the Iowa Department of Agriculture and Land Stewardship licensed AgEagle’s HempOverview™ platform to manage the state’s online registration, payment processing, comprehensive data collection and compliance oversight of hemp cultivation for the 2021, 2022 and 2023 planting seasons; and the Florida Department of Agriculture and Consumer Services (FDACS) expanded its licensing of the platform.

Barrett Mooney, Chairman and Chief Executive Officer of AgEagle, stated, “Autonomous robotics requires thoughtful architecture of hardware and software working in a coordinated effort to streamline and improve workflows and outcomes based on the valuable, actionable data-driven insight they capture and provide. It is our belief that as autonomous technology continues to evolve, AgEagle will remain at the forefront of this evolutionary process, earning distinction as a respected industry innovator and enabler through delivery of our unified line of industry trusted drones, sensors and software. Having laid a strong foundation through successful execution of our acquisition strategies in 2021, it is our belief that AgEagle will have far-reaching impact on how the industry ultimately matures and prospers.”

Corporate Update Webcast Today

As a reminder, AgEagle’s leadership will host the Company’s fourth quarter and full year 2021 corporate update via audio webcast today beginning at 4:30 PM ET.

To access the webcast, please go to https://www.webcaster4.com/Webcast/Page/2160/45102. If you have any difficulty connecting to the webcast, please contact Gateway Group at 949-574-3860. A replay of the webcast will be available on the Company’s website at https://ageagle.com/investors/#investors-presentations.

About AgEagle Aerial Systems Inc.
AgEagle is a global UAV industry pioneer engaged in delivering a unified line of high-performance drones, sensors and software that have earned the longstanding trust and fidelity of customers in more than 70 countries worldwide. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in a broad range of commercial verticals, as well as for U.S. government agencies, all branches of the U.S. military and allied nations. For additional information, please visit our websites at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

AgEagle Aerial Systems Contacts:

WICHITA, Kan., March 31, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, will host a webcast on Tuesday, April 12, 2022 at 4:30 p.m. Eastern Time to discuss recent operational developments and its financial results for the fourth quarter and full year ended December 31, 2021.

AgEagle CEO Barrett Mooney and CFO Nicole Fernandez-McGovern will host the corporate update. Investors and analysts are encouraged to submit questions they would like management to address during the discussion via email to UAVS@gatewayir.com by Friday, April 8, 2022 at 5:00 p.m. Eastern Time.

Webcast Date: Tuesday, April 12, 2022
Time: 4:30 p.m. Eastern Time (3:30 p.m. Central Time)
Webcast Link: https://www.webcaster4.com/Webcast/Page/2160/45102

The corporate update will be broadcast live and available for replay via the link above. If you have any difficulty connecting to the webcast, please contact Gateway Group at 949-574-3860.

AgEagle plans to file a Form 12b-25 with the U.S. Securities and Exchange Commission (the “SEC”) requesting a 15-day extension to file its Annual Report on Form 10-K for the year ended December 31, 2021. The Company does not anticipate having the audit of its financial statements completed in order to meet the March 31, 2022 deadline due primarily to the year-end audits of the Company’s recent acquisitions requiring additional time to complete.

About AgEagle Aerial Systems Inc.
AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our websites at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

WICHITA, Kan. and LAUSANNE, Switzerland, March 10, 2022 — AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), an industry-leading provider of full-stack drone, sensor and software solutions, today announced that the Company is one of the first eleven vendors to complete the required testing, evaluations and demonstration process to be designated a Blue UAS under the Defense Innovation Unit’s Blue sUAS 2.0. As a result, the NDAA-compliant eBee TAC Unmanned Aerial System (UAS) has been approved by the Defense Innovation Unit (DIU) for procurement by the U.S. Department of Defense (DoD).

In an announcement released yesterday, the DIU stated, “The first approved drone to be added to the DIU Blue UAS Cleared List as part of Blue sUAS 2.0 is the eBee TAC. Systems added to this list do not require a DoD exception to policy to procure or operate as they have undergone a cyber-security evaluation, a policy compliance check, and were issued the necessary administrative documentation. Federal government partners can also leverage this effort for their programmatic needs without duplicating efforts.”

The eBee TAC successfully completed a series of demonstrations in association with Blue sUAS 2.0 to provide DIU with information and verification of the drone systems’ mission planning and launch capabilities, range and endurance, NDAA compliance, operational safety of flight procedures and cyber security, in addition to scripted and ad hoc flight profiles. Based on its evaluation, the DIU has designated the eBee TAC as an approved light-weight, medium-range UAS available to the DoD that does not require a waiver to operate; and is also available to the Federal Government. AgEagle’s success with Blue sUAS 2.0 follows a four-year legacy of eBee‘s use as an integral asset for both conventional and unconventional Department of Defense units.

Following a decade of development, the eBee-branded drones have earned distinction as the best-selling commercial fixed-wing UAS in the United States over the past three consecutive years, according to data supplied by the U.S. Federal Aviation Authority (FAA). Designed specifically for government and military mapping and mission planning applications, the eBee TAC operates in disconnected environments, providing a higher accuracy mobile solution to map and locally share aerial imagery data on rapidly changing field conditions to analyze and provide near real-time situational awareness to ground forces. Weighing only 3.5 pounds and featuring a digital camouflage skin for increased stealth and up to 90 minutes flight time and silent mission mode, the eBee TAC can be rapidly deployed, from assembly to hand-launch, in three minutes by a single user to generate 3D modeling, terrain and thermal maps.

Each eBee TAC system features NDAA compliant drone, sensors and active components, Blue sUAS registration, secure extension, Endurance activation, two Endurance batteries, one Pitot Pro-kit, two micro SD cards with adapters, AES256-bit encryption, pixel camouflage and an IP67 hard transport case with STANAG military standard certification that is lightweight, rugged and dust and water resistant.

eBee TAC is available for purchase by U.S. government agencies and all branches of the military on GSA Schedule Contract #47QTCA18D003G supplied by Hexagon US Federal and partner Tough Stump Technologies as a standalone solution or as part of the Aerial Reconnaissance Tactical Edge Mapping Imagery System (ARTEMIS). Tough Stump also provides extensive training programs for the system.

ARTEMIS includes and integrates Hexagon US Federal’s Google Earth Enterprise Platform (GEEP) equipped laptops containing custom globes of mission Areas-of-Interest (AOIs) built from satellite imagery and other geospatial intelligence; and forms the backdrop for the eBee TAC-collected imagery. “Hexagon US Federal has long been committed to supporting the warfighter and public safety professionals through innovative solutions such as ARTEMIS,” said Tammer Olibah, CEO and President of Hexagon US Federal. “ARTEMIS has great potential to improve mission effectiveness in a variety of terrains, and DIU approval of the eBee TAC is a significant step in making ARTEMIS available to an even wider US Government audience.”

Barrett Mooney, Chairman and Chief Executive Officer of AgEagle, stated, “The eBee TAC is ideally positioned to become an in-demand, mission critical tool for the U.S. military, government and civil agencies and our allies worldwide. We expect this to be a major growth catalyst for AgEagle in 2022, positively impacting our financial performance in the years ahead as AgEagle solidifies itself as the go-to source for high performing, state-of-the-art full stack drone solutions that get the job done.”

About AgEagle Aerial Systems Inc.
AgEagle and its wholly owned subsidiaries are actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack drone solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our websites at www.ageagle.com.

Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9f76a166-5192-41e3-896b-8c98f955ce5f