INNOVATIVE SOLUTIONS & SUPPORT INC

For information regarding the Company’s risk factors, refer to the “Risk Factors” in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended September 30, 2024, filed with the SEC on December 30, 2024. Other than as set forth below, there have been no material changes in our risk factors as previously disclosed in Part I, Item 1A of the Company’s Annual Report on Form10-K for the fiscal year ended September 30, 2024 and Part II, Item 1A of the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025.

Tariffs imposed by the United States government could have a material adverse effect on our results of operations.

During Fiscal 2025, the United States government announced tariffs on goods imported into the United States from numerous countries. In response, multiple nations countered with reciprocal tariffs and trade restrictions. In light of these events, there continues to exist significant uncertainty about the future relationship between the U.S. and other countries with respect to such trade policies , treaties and tariffs. The U.S. government has stated that it is willing to negotiate with other countries regarding the tariffs and trade restrictions. If renegotiations of existing tariffs are unsuccessful or additional tariffs or trade restrictions are implemented by the United States or other countries in connection with a global trade war, the resulting escalation of trade tensions could have a material adverse effect on world trade and the global economy. The tariffs implemented by the United States and other countries along with any additional tariffs or trade restrictions implemented by such countries, may negatively impact demand and the Company’s supply chain, resulting in an increase in some product costs. Even in the absence of further tariffs or trade restrictions, the related uncertainty and the market’s fear of an economic slowdown could lead to a decrease in demand for our products and services, which could have a material adverse impact on our business, financial condition and results of operations.