$EOS.AX The Gulf has everything AI infrastructure wants: cheap gas, endless sunlight, and endless flat land. It also sits inside a war zone. - Mar 1, 2026: Iranian drones directly hit 2 AWS data centers in the UAE. A 3rd in Bahrain was damaged by a strike nearby. The IRGC claimed it was deliberate. - Sep 15: AWS confirmed some customer data from the UAE zone is unrecoverable. - UAE, Feb 28–Apr 8: 2,256 drones, 537 ballistic missiles, 26 cruise missiles intercepted - Kuwait: 709 drones engaged by Apr 4. Kuwait International hit Feb 28, fuel tanks set ablaze Apr 1, Terminal 1 severely damaged Jun 3 - Dubai International: ops halted Mar 7, fuel tank hit and flights diverted Mar 16 - Bahrain: 400 drones by Mar 31 - Saudi: ~435 drones in the first 3 weeks Gulf air defences intercepted roughly 93–94% of incoming drones. The 6% that leaked through still took a hyperscaler region offline and destroyed data permanently. For the Gulf to participate in the AI buildout, counter-drone coverage is a prerequisite. $EOS.AX is positioned right in the middle of this: - Oct 9: signed a £370M (~A$700M) contract to deploy a nationwide counter-drone system for Kuwait. It’s the largest contract in EOS history. At the core is NiDAR, the command-and-control (C2) software from the MARSS acquisition that fuses radar, camera and sonar feeds and assigns the right weapon to each threat. It is still conditional on a £74M bank guarantee and export licenses. - C2 is sticky. Once a country’s sensors, command centres and operators run on one platform, replacing it is a multi-year, high-risk project. - Effectors. The initial interceptors and jammers in this contract are third-party. EOS also owns the Slinger remote weapon station, Apollo lasers, and MARSS’s Interceptor-MR, a reusable drone that rams targets out to ~5 km at about 1/5 the cost of a short-range missile. Every phase after the first is a shot at swapping in its own hardware. - Relationships. Jun 19: a US$124M Slinger order from Abu Dhabi’s Gen5, plus a conditional 50/50 laser JV. Gen5 also bought A$30M of EOS shares. Gen5’s chairman, Tareq Al Hosani, previously ran Tawazun, the council that handles UAE Armed Forces procurement. The future looks bright for @aussie_eos in the gulf.