Press release

AeroVironment Announces Initial Milestone in Solar HAPS Program – Assembly of First HAWK30 Solar HAPS

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(NASDAQ: AVAV), a global leader in Unmanned Aircraft
Systems (UAS) for both defense and commercial applications, today
announced the achievement of a significant solar HAPS project milestone,
the assembly of the first HAWK30 solar HAPS for its HAPSMobile joint
venture with SoftBank Corp. HAPS stands for High-Altitude
Pseudo-Satellite or High-Altitude Platform Station.

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AeroVironment Designed, Developed and Assembled the HAWK30 in 24 Months (Photo: Business Wire)

AeroVironment Designed, Developed and Assembled the HAWK30 in 24 Months (Photo: Business Wire)

“AeroVironment recently rolled-out the first HAWK30 for our HAPSMobile
joint venture, initiating a new phase of our design, development and
demonstration program and the promise of a new era for global
connectivity,” said Wahid Nawabi, AeroVironment president and chief
executive officer. “The result of decades of experience developing and
flying solar HAPS, our team designed, developed and assembled the entire
HAWK30 in only 24 months. This is very rapid for a HAPS of such large
size and significant payload capacity.”

Developed and assembled in AeroVironment’s HAPS Innovation Center, the
HAWK30 has a wingspan of approximately 260 feet and is propelled by 10
electric motors powered by solar panels covering the surface of the
wing, resulting in zero emissions. Flying at an altitude of
approximately 65,000 feet above sea level and above the clouds, the
HAWK30 is designed for continuous, extended missions of up to months
without landing.

HAPSMobile recently increased the ceiling value of the Design
Development Agreement with AeroVironment by $39 million, to a total of
$126 million.

“We are making great progress on this program and look forward to
sharing future achievements with our shareholders and potential
customers. We are excited to debut our next generation HAPS as we
advance this strategically important project for HAPSMobile and for
AeroVironment,” added Nawabi.

A press conference in Tokyo featuring executives from HAPSMobile and
AeroVironment took place today at 11:30 am JST. An archive of the press
conference live stream is available at the following link:

About AeroVironment, Inc. (AV)

AeroVironment (NASDAQ: AVAV) provides customers with more actionable
intelligence so they can proceed with certainty. Based in California,
AeroVironment is a global leader in unmanned aircraft systems and
tactical missile systems, and serves defense, government and commercial
customers. For more information, please visit

About HAPSMobile Inc.

HAPSMobile is a joint venture between SoftBank Corp. and AeroVironment,
Inc. formed in December 2017 to plan and operate the HAPS business with
the aim of bridging the world’s digital divide. HAPSMobile is mainly
engaged in network equipment research and development for the HAPS
business, construction of core networks, new business planning and
activities for spectrum usage. For more information, please visit

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statements” as that term is defined in the Private Securities Litigation
Reform Act of 1995. These statements are made on the basis of current
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Commission. We do not intend, and undertake no obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.

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