Draganfly Inc. (NASDAQ:DPRO, CSE:DPRO, FSE: 3U8)) ("Draganfly" or the "Company"), an award-winning, industry-leading developer of drone solutions and systems, today announced that it has been awarded a five-year contract by the Government of Canada to provide Low-Cost Tactical Intelligence, Surveillance and Reconnaissance ("ISR") Uncrewed Aircraft Systems ("UAS") to the Canadian Armed Forces ("CAF").

The initial contract includes a firm commitment for 100 Low-Cost Tactical ISR UAS systems, together with associated ground control stations, payloads, data links, support equipment, documentation, spare parts and training. Contracted pricing for the systems is commercially sensitive.

Under the five-year agreement, the Government of Canada has retained the right, at its sole discretion, to order up to an additional 4,900 UAS systems. If all available options were exercised, the total number of UAS systems supplied under the agreement to the Government of Canada would be 5,000. The contractual option for the additional 4,900 UAS systems has an aggregate value of approximately C$24.25 million if exercised in full. Any exercise of those options would require the appropriate written contract authorization or amendment.