DUKE Robotics Corp.
For the period ended May 20, 2026. Filed May 20, 2026.
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May 20, 2026 · Filed May 20, 2026
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Contents
EX-99.2 · 9 DEFENSE SEGMENT
9 DEFENSE SEGMENT
10 Formerly known as the TIKAD Bird of Prey is a drone-mounted remote weapon system that extends infantry reach by enabling precise, remote engagement of threats at standoff distances. Its uniqueness lies in stabilized fire control, autonomous target recognition, and modular weapon payloads. It's built for non-line-of- sight, urban, and force-protection scenarios where speed, precision, and reduced exposure are critical. 10 Bird of Prey Defense Segment Duke's defense segment is focused on providing advanced UAV stabilized solutions designed for surveillance, reconnaissance, and combat applications. Duke's technology, is marketed through a collaboration agreement by Elbit Land Systems under the brand Bird of Prey Drone Weapons System. US Patent Awarded U.S. DOD Security Innovation Award Patent granted June 2021 recognizing Duke's proprietary stabilization technology Showcases technology entrepreneurs who are capitalizing on major opportunities emerging in the defense technology market TOP PRIZE at Combating Terrorism Technology Conference sponsored by the U.S.DOD's Combating Terrorism Technical Support Office (CTTSO), Israel's Ministry of Defense, Directorate of Defense Research and Development (DDR&D / MAFAAT), and the MIT Enterprise Forum of Israel
11 Source: Channel 14 News Report Source: Channel 14 News Report Source: Elbit Brochure Source: Elbit Demo Video Source: Elbit Demo Video Source: Elbit Demo Video THE BIRD OF PREY IN ACTION
12 COLLABORATION WITH ELBIT - A MULTI-NATIONAL DEFENSE CONTRACTOR Elbit Systems, an international defense electronics company, is uniquely positioned to market and develop Bird of Prey on a global scale, leveraging its market reach and expertise. 12 Exclusive License: Elbit Systems Land (a subsidiary of Elbit Systems) has an exclusive worldwide license for Duke's TIKAD drone technology (AKA: Bird of Prey), following a 2021 agreement Revenue Sharing: Duke received in the second quarter of 2025 early stage royalties(1) from Elbit's revenues related to the technology, including sales and other revenues, and already received an upfront payment from Elbit for transferring engineering materials Investment in Development: Elbit Systems invests in the technology's further development and production. Long-Term Collaboration: Includes joint projects and a steering committee to manage ongoing and future initiatives. Israeli defense company (1) Initial royalties received to date were approximately $20,000
13 THE BIRD OF PREY – A GAME CHANGER FOR THE MODERN BATTLEFIELD VAST APPLICATIONS Source: Elbit Brochure & Site Backpack Deployable Fully portable system carried and operated by two soldiers with rapid field deployment. Non-Line-of-Sight Enables precise engagement of targets beyond direct visibility, reducing operator exposure. Precision Autonomy AI-driven targeting and fire control deliver high accuracy with minimal operator workload. Modular Lethality Supports multiple standard weapon types with quick field interchangeability. Compatible to other land and maritime platforms. Stabilized Firepower Advanced gimbal stabilization ensures accurate firing during drone movement. Integrated System Seamlessly combines drone, weapon, sensors, and control into one unified platform. Border Protection Persistent surveillance and precise remote engagement across large, hard-to-access areas without exposing personnel. Urban Warfare Enables safe engagement of hidden or low-visibility targets in dense, complex environments. Force Protection Acts as a forward, remote firing unit to defend positions, convoys, or temporary bases. Special Operations Supports covert, rapid-response missions requiring mobility, precision, and minimal footprint.
14 RECENT DEVELOPMENTS Already in use by the IDF, according to recent reports In August 2025, Israeli television featured Duke Robotics' 'Bird of Prey' system as part of the IDF's advanced drone warfare capabilities, confirming its active deployment during the 'Iron Swords' war. Recently received confirmation of first royalties In the second quarter of 2025, Duke Robotics recognized revenues from royalty(1) for sales of Elbit Systems' 'Bird of Prey' drone system, marking the first financial returns from its defense technology. Expanded co-marketing agreement with Elbit In April 2025, Duke expanded its Elbit collaboration to directly market the 'Bird of Prey' system, earning potential additional commission fees on sales generated through its own marketing efforts. 14 (1) Initial royalties received to date were approximately $20,000
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