AXON ENTERPRISE, INC.

Skydio

Drones are becoming one of the defining technologies of the decade, and we are taking a major stake in a market leader. Today, we announce an additional $1.2 billion investment in Skydio, which takes our fully diluted ownership to 37%. Axon is also now the exclusive distributor of Skydio for public safety in the U.S. and Canada. Deployed Skydio docks through Axon Air have more than doubled year over year, and we believe Drone as First Responder (DFR) is becoming the new standard of response.

Key highlights include:

•A major stake in a category-defining company: We believe Skydio is positioned to lead in nearly every sector that flying robots touch. We now own 37% of this category definer.

•Exclusive reach in public safety: Axon becomes Skydio’s exclusive public safety distributor in the U.S. and Canada. This extends our lead in public safety technology.

•Scale that already exists: Skydio expects about $1 billion of bookings this fiscal year. It is already operating at scale.

•A faster, more complete response: Combined with Axon 911, Axon Fusus, digital evidence and Dedrone airspace security, Skydio completes an integrated platform that helps agencies detect, understand and respond faster.

•Pure-margin revenue to Axon: Axon acts as a direct channel partner. Revenue is recognized on a net basis in Software & Services.

Two companies, each a leader in its field, are building something bigger than either could alone. Axon extends its network of mission-critical technologies in public safety. Skydio stays free to move fast and build the future of American aerial robotics across many industries.