AAIG × @InvestingVisual — Depth Made Visual. A sneak peek! AI is opening up investment opportunities across memory, optics, and the infrastructure behind it all. Following these developments often means getting into technical detail to understand what actually matters. Sometimes you read about a technology or company here on X and ask Grok or ChatGPT: "What does this technology do? What does this company bring to the table? And why should I follow this development?" Through our partnership, we're bringing AAIG's in-depth research together with the visual approach Investing Visuals has built its page around: giving investors an accessible overview of a subject. Together, we're building a new product on that approach to help you understand the fast changing technologies, companies, and developments we research in a nuanced overview. And when you want to understand the investment opportunity behind it, with the numbers laid out, the risks, and what could make the investment work, our full research takes you through it. Sneak peak on Electro Optic Systems ($EOS.AX), and how Europe plans to stop cheap drones. Behind the scenes, we're also setting up our digital studio together with our branding agency. More soon. Excited!

Electro Optic Systems $EOS.AX — Eurosatory & much more We came back from Eurosatory in Paris with the suitcase full of information on where defence capital is heading. @SimeonResearch_ took over 150 photos, spoke with industry leaders and company management across the show, and a full defence deep-dive is coming shortly on our platform there's a lot of alpha in it. The defence space is more alive than ever, in our opinion, and navigating away from the US is a priority seen by many industry leaders and countries. So more on that soon. First, Electro Optic Systems. $EOS.Ax The newest announcements make the thesis stronger than it's ever been and it still remains, with large confidence, my biggest position. Largest Slinger order to date EOS landed an A$175m counter-drone Slinger order from UAE-based Gen5, a 100% UAE-owned defence company. It's the biggest counter-UAS Slinger order EOS has ever signed — co-produced across Australia and the UAE, with deliveries in 2027 and 2028. This is a highly strategic win. The systems are about to strengthen regional defence in the Middle East, and the order is explicitly tied to export-approval requirements — which is exactly why they're building up a JV (more on that below). That means this is government-level defence. It's fully built in the region, across Australia and the UAE — the full localisation model that Gulf buyers insist on. EOS is positioning itself into the broader Middle East and North Africa (MENA) defence build-out, at the exact moment counter-drone demand across the whole region — and the world — is going parabolic. Strategically: insanely good execution by management. The Gen5 laser-weapon JV So, going into the JV. It's a 50/50 venture, Abu Dhabi-based, and it targets the next generation of 200–300kW high-energy laser weapons (HELW). Alongside that, we'll localise production of EOS's existing 100–150kW laser and the R400, R500 and R800 RWS for the UAE and wider MENA. The whole deal carries a built-in target: a minimum US$250m order for the 200–300kW HELW system inside twelve months, and a minimum US$290m order for the 100–150kW systems inside nine months. EOS will contribute the IP in this deal. For reference, a 200–300kW HELW system is around a US$250–300m fixed build. So it's not a mobile system it's a ground-based system, with a lot more range. In my talks with EOS, they pointed out that eventually almost every country in the world will field a 200–300kW fixed system. It can be used against missiles and mortars, but also in the next frontier they want to operate in: space defence. And "every country having one" is kind of an understatement — it will most probably be multiples of these systems per country. BAE Systems picks MARSS Then the BAE deal with MARSS EOS's newest acquisition. BAE Systems selected the MARSS NiDAR platform as the C2 backbone for its Anti-Threat System (BATS). Remember, this is one of the world's leading primes, building its counter-drone offering on EOS-owned systems. Again, a highly strategic win — it shows the competitive, leading position EOS holds, both in its product portfolio and as a whole, as a multilayered defence company. Bottom line: The bigger picture I've been pointing out, and which was confirmed multiple times at the Eurosatory defence expo: EOS's strategic position world-leading directed-energy and RWS systems that are ITAR-free, outside US export control is a huge moat in this climate. The move away from ITAR is seen as a serious priority. A while back, when Trump was pushing to take Greenland and wouldn't rule out force, that was an even clearer sign that the world has to reduce its reliance on the US where it can. US primes can build a 300kW laser, but they can't freely sell or localise one in the UAE or across MENA without a shitload of administration and even then, they still can't offer the kind of sovereignty deal every buyer is now looking for. Closing part below👇 $EOS.Ax $RHM.NE $BA.L $AVAV

$EOS.AX just placed A$40M of equity with Calidus, which is a major Abu Dhabi defence prime, alongside the A$150M institutional raise, which we already knew about. When a big defence prime like Calidus takes equity they're building a multi-decade procurement relationship with this company. Major win in the Middle East region for EOS.