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Sales Last Quarter Were Roughly $3.4Mill Post Acquisition

UMAC is focused on becoming a leading supplier to the American drone industry

Read the Investor Presentation HERE

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Hello Everyone,

(I will insert intro over the weekend)

Unusual Machines is gathering great teams, revenue generating customers, valuable IP, and high-quality brands, growing both organically and through strategic acquisitions within the highly fragmented drone industry. The Company is focused on investing in the development or acquisition of FPV products and services that serve a broad set of industries including consumer, public safety, and drone delivery. The Company’s Fat Shark and Rotor Riot subsidiaries are setting the standard for FPV immersive experiences and are expected to continue to corner the consumer FPV market as Unusual Machines expands into new enterprise verticals over the next 24 months.

As Unusual Machines capitalizes on the wealth of opportunities in the rapidly evolving drone market it is well positioned for long-term success.UMAC manufactures and sells drone components and drones. Products are sold across a diversified brand portfolio with established track records including Fat Shark and Hypetrain Motors. The Company also retails small, acrobatic FPV (first-person-view) drones and equipment directly to consumers through the curated Rotor Riot e-commerce store. With a changing regulatory environment, Unusual Machines seeks to be the dominant tier 1 parts supplier to the fast growing multi-billion dollar US drone industry. The global drone accessories market is currently valued at $17.5B and is set to top $115B by 2032.

INVESTMENT HIGHLIGHTS

• Expanding portfolio of drone technology solutions through consolidation of highly fragmented drone industry
  • Acquisitions of Fat Shark and Rotor Riot create strong initial position
  • Targeting additional acquisitions that are cash flow positive and complement retail sales or component initiatives
• US-based development and assembly provides strong competitive advantage
  • Made-in-USA extremely attractive amid national security concerns
  • Regulatory and DoD procurement provide for major immediate growth drivers
• IP protections
  • 12 patents issues and 8 patents pending; includes US, EU, Korea, Canada, China, Japan, and UK
• Addressing a global opportunity
  • Consumer drones forecasted to grow to $20 billion by 2030, a 20.8% CAGR
  • Drone components market was valued at $15 billion in 2022, growing at a 11.4% CAGR to $28 billion in 2028
• Highly experienced leadership team

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Unusual Machines Announces Insider Share Purchases

ORLANDO, FL / ACCESSWIRE / May 31, 2024 / Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), a drone and drone components manufacturer, today announced that key executives and directors have purchased additional shares of the company's stock. Between May 20 and May 30, 2024, CEO Allan Evans, COO Drew Camden, board member Sanford Rich, and board member Cristina Colon collectively acquired more than 40,000 shares through open market purchases.

This recent insider buying brings insider ownership (including its largest shareholder Red Cat Holdings, Inc.) to approximately 64% of the Company, underscoring the leadership team's commitment to aligning their interests with those of the shareholders and reflecting their confidence in Unusual Machines' strategic direction and growth potential.

"Our recent insider purchases highlight our unwavering confidence in Unusual Machines' trajectory," stated Evans. "We are on a path to meaningful growth, driven by our recent IPO, strategic acquisitions, and expansion into the defense sector. This personal investment in the company is a clear signal of our belief in the value and future of Unusual Machines. We remain committed to driving shareholder value and are excited about the opportunities ahead."

Unusual Machines has been making strides since its IPO, including the successful acquisitions of Rotor Riot and Fat Shark from Red Cat Holdings. These acquisitions form the cornerstone of the Company's operations, driving revenue through both e-commerce and B2B sales channels.

In a recent letter to shareholders, Evans emphasized the Company's strategic priorities, which include expanding Rotor Riot's operations, progressing towards domestic production of NDAA-compliant products, and developing defense sector components. These initiatives are designed to capitalize on the growing demand for drone technology and establish Unusual Machines as a leading player in the industry.

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Unusual Machines Issues Letter to Shareholders

CEO Allan Evans shares Q2 2024 achievements and provides insight into the Company's strategic expansion

ORLANDO, FL / ACCESSWIRE / August 14, 2024 / Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), a drone and drone components manufacturer, today announced it filed its 10-Q with the U.S. Securities and Exchange Commission for the second quarter of 2024 and provided the following letter to its shareholders from CEO Allan Evans.

Dear Shareholders,

This shareholder letter followings the completion of our second quarter of 2024. This represents our first complete quarter as a public company. We are grateful for your continued support and confidence in Unusual Machines. The completion of the acquisitions of Fat Shark Holdings LTD ("Fat Shark") and Rotor Riot, LLC("Rotor Riot"), financial results, and recent press releases have led to a significant number of questions from shareholders. We would like to take this opportunity to provide context and deeper insights into our operations and what these represent for Unusual Machines' future.

Retail Operations Update

Unusual Machines revenue for the second quarter was generated from the B2C sales channel. For the second quarter, we generated approximately $1.4 million in retail sales at a 28% gross margin and a total of $2.0 million in revenue at a 29% gross margin since the acquisitions in February 2024. We see an improvement of 10% over the same time frame in 2023 for Rotor Riot. Based upon our performance to date since we completed the acquisitions, we are currently ahead of our pace to hit the target for 2024 of $5M or better in retail revenue.

Enterprise Operations Update

The critical role drones have played in recent conflicts, such as in Ukraine and Israel, has heightened the U.S. Department of Defense's demand for cost-effective drones and a reliable non-Chinese supply chain. We have started to sell NDAA-compliant drone components for the defense sector. Just last week, we received approval from the Defense Innovation Unit of the U.S. Department of Defense for inclusion of our U.S made Brave 7 flight controller on the Blue UAS Framework. We are currently seeing strong demand signals, and the next two months which we believe will allow us to properly evaluate product market fit and position ourselves to serve the market as we expect potential contracts prior to the government fiscal year end on September 30th. We expect these enterprise component sales to contribute to revenue in the third or fourth quarter of 2024.

Finalization of the Acquisitions of Rotor Riot and Fat Shark

We finalized the acquisitions of Rotor Riot and Fat Shark from Red Cat Holdings. As one of the final outstanding closing items, we reached an on the value of the working capital adjustment of $2M. Rather than paying it immediately, both parties agreed to amend the outstanding note to include this additional amount. Additionally, we incurred the remainder of the one-time expenses required in closing the IPO and finalizing this transaction. These expenses will continue to make it challenging to discern the basic operations of the company from the financial statements alone.

Cash Position

We view managing our cash position and cash flow as the most important aspect of our business. During the second quarter, we incurred the rest of the one-time expenses associated with our IPO and closing of the acquisition of Fat Shark and Rotor Riot. We also had marketing and inventory expenses that exceeded our baseline for the quarter. The breakdown of the cash position change over the quarter (Table 1) demonstrates the extraordinary expenses as opposed to our operating expenses. Our rough estimate of operating expenses of $400k per quarter was low and we have amended it to $450k per quarter. We also anticipate continued interest expense on our outstanding debt of approximately $80k per quarter. We also incurred cash outflows of approximately $75k as an increase in inventory. This was primary done in anticipation of an order from a customer that has since been realized in Q3. As part of our management strategy, we plan on limiting our cash burn by reducing our current inventory and prepaid inventory of $2.7M to $2.0M or less over the next nine months.

Update on Audited Financials and Restated Earnings

On August 9, 2024, the Company filed a 10-K/A related to our re-audits of our financial results as of and for the years ended December 31, 2023 and 2022. These re-audits were required because of the SEC order against our prior auditor. The Company intends to continue to make timely filings with the SEC.

Red Cat Holdings Private Transaction

On July 22, 2024, the Company executed an agreement with Red Cat to provide Series B preferred stock in exchange for their common stock. Red Cat then divested this equity and the note to two accredited investors.The total number of shares on a fully diluted basis remains the same; however, the number of voting shares has been reduced from 10.4 million to 6.2 million. This has reduced shareholder concentration as it relates to control of the company. We also note that the notes payable are not convertible unless we incur an event of default.

Looking Ahead

Our priorities moving forward are clear:

• Retail Sales: As our primary revenue source, we will continue to invest in and expand Rotor Riot's operations, driving both top-line growth and improved margins while introducing U.S. made components at competitive prices.
• NDAA-Compliant Production: We have started domestic production of drone components, with our first product, the Brave 7 flight controller, currently for sale. This is our first product to get Blue UAS Framework certification from the U.S. government. Sales over the next 2-3 months will be a strong indicator for market acceptance as well as help us prioritize the next products we focus on producing domestically.
• Defense Components: The current demand for drone technology in the defense sector provides opportunities for sales and non-dilutive research and development financing. This segment is cyclical due to the government fiscal year ending in September, so our current primary business development focus is on sales into this segment.

We are enthusiastic about the future of Unusual Machines. The launch of the Brave 7 and the expansion of enterprise sales could provide an immediate driver for substantial growth. We thank you for your trust and confidence in our vision. We are a small company and appreciate your feedback. Please reach out with any questions or comments.

Sincerely,Allan EvansCEO of Unusual Machines

Second Quarter Financial Results

• Sales totaled approximately $1.4 million for the three months ended June 30 and approximately $2.0 million for the period since acquisitions of Fat Shark and Rotor Riot of February 16, 2024 through June 30, 2024. We did not have any sales in the prior year or prior to the completion of the acquisitions.
• Gross margin for the second quarter was approximately 28%, which brings us to a gross margin YTD of 29%. We did not have any sales or gross profit in the prior year.
• Our loss from operations was approximately $1.5 million for the three months ended June 30, 2024 as compared to an operating loss of $0.4 million for the three months ended June 30, 2023. Included in this is non-recurring expenses of $0.2 million related to the acquisitions and transition costs from Fat Shark and Rotor Riot and stock compensation expense of $0.4 million.
• Net loss attributable to common shareholders for the second quarter 2024 was approximately $1.6 million or $0.16 per share as compared to a net loss of approximately $0.4 million for the second quarter 2023 or $0.13 per share. The decrease primarily relates to additional expenses as it relates to the completion of our IPO and acquisitions and additional costs incurred related to the transition and integration of Fat Shark and Rotor Riot.
• We had approximately $2.2 million of cash as of June 30, 2024 as compared to $0.9 million as of December 31, 2023. The increase in cash primarily relates to the closing of our IPO for gross proceeds of $5.0 million in February 2024offset by our increase in net loss and cash used as consideration related to the acquisitions of Fat Shark and Rotor Riot.

For further information concerning our financial results, see the tables attached to this shareholders' letter.

About Unusual Machines

Unusual Machines manufactures and sells drone components and drones across a diversified brand portfolio, which includes Fat Shark, the leader in FPV (first-person view) ultra-low latency video goggles for drone pilots. The Company also retails small, acrobatic FPV drones and equipment directly to consumers through the curated Rotor Riot e-commerce store. With a changing regulatory environment, Unusual Machines seeks to be a dominant component supplier to the fast-growing multi-billion-dollar US drone industry and the global defense business. According to Fact.MR, the global drone accessories market is currently valued at $17.5 billion and is set to top $115 billion by 2032.

For more information visit Unusual Machines at https://www.unusualmachines.com/.

Unusual Machines Selected to Provide the First Drone for Red Cat’s FAN(TM) Line of First-Person View Lethal Strike Systems

ORLANDO, FL / ACCESSWIRE / June 21, 2024 / Unusual Machines, Inc., (NYSE American:UMAC) ("Unusual Machines" or the "Company"), a drone and drone components manufacturer, today announced it will provide the first drone and components in Red Cat's new FANG™ line of First-Person View (FPV) systems. This partnership underscores Unusual Machines' commitment to onshoring drone and component production, as well as its expertise in FPV technology.

Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat") recently introduced its new family of low-cost, portable unmanned Intelligence, Surveillance, and Reconnaissance (ISR) and precision strike systems. Unusual Machines' expertise and production capabilities informed this selection to develop the first drone and components in the FANG line of planned FPV drones of different sizes and capabilities.

The partnership aligns with Red Cat's mission to deliver affordable and effective systems that meet the needs of the Pentagon's Replicator Initiative. Focusing on low-cost, high volume production methods and industry expertise, Unusual Machines enables Red Cat to manufacture its entry FPV drone alongside Teal and FlightWave's products at scale while ensuring performance and reliability.

Unusual Machines is also a member of the Red Cat Futures Initiative (RFI), an independent, industry-wide consortium of robotics and autonomous systems (RAS) partners leveraging innovative technologies to bridge critical gaps and bolster support for warfighters through open architecture and interoperability. This highlights Unusual Machines' commitment to advancing unmanned aircraft systems through collaboration with partners.

"We are excited to kickstart our enterprise business and domestic production while working with the people we know very well at Red Cat," says Allan Evans, Unusual Machines CEO. "Their team is committed to providing the warfighter with the best set of solutions possible and we are committed to providing them with a robust, high quality, low cost supply chain that is proudly made in the USA."

"We have a longstanding relationship with Unusual Machines with the divestiture of our consumer drone business, and the recent introduction of our new Family of Systems provides the perfect time to partner on the development of our first FPV drone with strike capability," said Jeff Thompson, Red Cat CEO. "First-Person View drones are becoming highly prevalent on the battlefield, and we see significant opportunities to develop a line of FPV systems with a wide range of tactical capabilities."

Unusual Machines Adopts HP's Multi Jet Fusion 3D Printing for Drone Parts Manufacturing

ORLANDO, FL / ACCESSWIRE / August 8, 2024 / Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), has adopted HP's Multi Jet Fusion (MJF) 3D printing technology for the production of drone components, particularly for FPV (First-Person View) drones, known for their demanding performance and durability requirements.

Unusual Machines partnered with HP 3D Printing to determine the best components for the introduction of their MJF production process. The first commercial product using this technology at scale is the SkyLite one of Rotor Riot's top-selling platforms. Notably, Unusual Machines' adoption of HP's MJF technology will support domestic manufacturing efforts, with all MJF parts being produced by Forecast3D domestically in the United States. This aligns with Unusual Machines' mission to ensure quality and promote United States industry growth.

Rotor Riot SkyLite FPV drone equipped with MJF produced parts

"In order for our products to remain competitively priced while moving production to the U.S., we have to use innovative production processes," said Allan Evans, CEO of Unusual Machines. "The implementation of HP's advanced 3D printing technology is not only helping us control costs, but allows us to create higher quality products capable of meeting the performance demands of FPV drones."

HP's Multi Jet Fusion technology offers significant advantages in producing intricate designs with robust strength and durability, ideal for the exacting requirements of FPV drone operations. In an environment where agility and rapid response to design changes are crucial, MJF excels by enabling the simultaneous manufacturing of multiple parts with superior finishes. Extensive testing confirmed that TPU materials, available via HP's 3D printing technology, are the optimal choice for drone production due to their exceptional resilience, ensuring that these remain virtually indestructible even in the event of a crash. Moreover, MJF technology provides cost savings in production while also enhancing product quality.

"At HP, we believe 3D printing is a catalyst for innovation, which is why we are excited to partner with Unusual Machines and bring Multi Jet Fusion technology to shape the future of drone manufacturing", said Brian Ingold, Head of Go-to-Market Solutions, HP Personalization & 3D Printing. Together, we are setting a new standard in drone production, performance, and quality assurance, which we are eager to see evolve and grow."

Unusual Machines is proud to announce that parts manufactured using HP's MJF technology for the SkyLite drone are now available for purchase, and all future SkyLite drones will be produced using these advanced 3D printed components.

For more information about Rotor Riot's line of products produced using MJF, please visit www.RotorRiot.com.

About HP Inc.

HP Inc. (HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.

Unusual Machines' FPV Flight Controller Approved for Blue UAS Framework

ORLANDO, FL / ACCESSWIRE / August 7, 2024 / Unusual Machines, Inc. (NYSE American:UMAC) ("Unusual Machines" or the "Company"), a drone and drone components manufacturer, today announced that its Rotor Riot Brave F7 Flight Controller has been approved for inclusion on the Blue UAS Framework list. This significant milestone underscores Unusual Machines' commitment to providing secure, reliable, and domestically manufactured drone components for the U.S.government and other critical sectors.

"We are thrilled to have the Rotor Riot Brave F7 Flight Controller approved for the Blue UAS Framework," said Allan Evans, CEO of Unusual Machines. "This certification reinforces our mission to support the American drone industry with high-quality, domestically manufactured components. We know procurement can be a challenge and see the DIU and the Blue process as the best way to facilitate the Department of Defense (DoD) in using FPV drones."

The Blue UAS Framework (link: https://www.diu.mil/blue-uas) , an initiative by the Defense Innovation Unit (DIU), sets rigorous standards for cybersecurity, supply chain integrity, and operational requirements. This is done to ensure that certified unmanned aerial systems (UAS) are trusted and secure. In order to be added to the Blue UAS Framework, a department of defense (DoD) sponsor needs to advocate for the product, and it has to represent a new capability. The audit and approval of the Brave F7 Flight Controller is a testament to the foresight of the Marine Core Warfighter Lab and enables several simplified acquisition pathways for all government customers.

"A low-cost FPV UAS technology added to the DIU Blue list offers a significant advancement in our capability to deploy secure, reliable, and domestically manufactured unmanned systems," said Major Steven "Spike" Atkinson of the Marine Corps Warfighting Laboratory. "It provides a scalable solution that ensures we can keep pace with our adversaries while enhancing operational effectiveness and security for our warfighters."

The Rotor Riot Brave F7 Flight Controller is manufactured in compliance with the National Defense Authorization Act (NDAA), which emphasizes reducing reliance on foreign technologies and enhancing domestic manufacturing capabilities. It is the first US-made flight controller on the Blue UAS Framework list specifically designed for high-performance FPV flight. This flight controller represents a significant step forward in the company's ongoing efforts to expand its presence as a domestic drone parts manufacturer.

For more information about the Rotor Riot Brave F7 Flight Controller or to place an order, please visit www.RotorRiot.com or contact via purchasing@rotorriot.com.

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MANAGEMENT

Allan Evans

Chief Executive Officer and Director

Allan Evans is the Chief Executive Officer of the Company. Further, Mr. Evans was appointed as a director of the Company in November 2023. Previously, he was the Chief Operating Officer of Red Cat from January 2021 to November 2023 and was the Chief Executive Officer of Fat Shark. He is a serial entrepreneur with a history of founding and leading technological innovation. He has extensive experience in overseeing different emerging technologies. From August 2017 to October 2020, he served as a board member for Ballast Technologies, a company that specialized in technology for location-based entertainment. In November 2012, he co-founded Avegant, a technology company focused on developing next generation display technology to enable previously impossible augmented reality experiences. He led design, development, and initial production of the Glyph head mounted display and oversaw technology research and patent strategy while serving as Chief Technology Officer of Avegant until 2016. He has 47 pending or issued patents that cover a range of technologies from implantable medical devices to mixed reality headsets. Academically, his work has an h-index of 15, an i-index of 28, and has been cited in more than 1,000 publications. He has extensive experience with new technologies, engineering, business development, and corporate strategy, and his expertise in these areas strengthens the Company’s collective knowledge and capabilities.

Brian Hoff

Chief Financial Officer

Brian Hoff has served as Chief Financial Officer of Unusual Machines since November 2022. Mr. Hoff brings extensive experience in leading high growth accounting & finance teams. Mr. Hoff previously serviced as Chief Financial Officer of Auddia, Inc. (Nasdaq: “AUUD”) from April 2021 to October 2022. From October 2019 to April 2021 Mr. Hoff served as Vice President, Accounting & Finance at STACK Infrastructure, a leading provider of digital infrastructure to high growth companies owned by IPI Partners. From November 2011 to October 2019 Mr. Hoff was Corporate Controller and Director of Finance at Coalfire, a leading cyber-security firm owned by The Carlyle Group and The Chertoff Group. Prior to that Mr. Hoff spent four years in public accounting. Mr. Hoff is a certified public accountant and holds a B.S. in Accounting from the University of Colorado.

Drew Camden

Chief Operating Officer

Drew Camden serves as Chief Operating Officer of Unusual Machines. Camden's ascent in the drone industry began with his captivating FPV Freestyle videos on YouTube. Appointed President of Rotor Riot in 2018, he diversified Rotor Riot's business by expanding media production and creating an e-commerce revenue stream. Camden established Rotor Riot’s first formal headquarters in Orlando, transformed retail operations, and launched a line of ready-to-fly FPV freestyle drones, positioning Rotor Riot for acquisition by Red Cat Holdings in 2020. He continued to lead Rotor Riot, generating a remarkable 50% year-over-year average revenue growth. In 2024 he saw Rotor Riot through its acquisition by Unusual Machines and joined the executive team. Prior to his work in the drone industry, Camden earned a bachelor's degree in Engineering Physics from Tulane University and worked four years as an Engineer for General Motors.

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Sincerely,

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