THEON presents its Q1 2025 Trading Update - Seite 2

• Several recent contract wins, including the one for the German Future Soldier Program (IdZ) where THEON provides its newly launched Heads-Up Display system, part of the A.R.M.E.D ecosystem of products.
• Continued strong international traction for the A.R.M.E.D products.
• Participation in several larger tender processes as demand for night vision products continues to increase globally.
• THEON’s majority shareholder placed c.3.2 million shares (4.5% of issued share capital) in March 2025, broadening THEON’s investor base and improving stock liquidity.
• THEON was also included in the FT Europe 1,000 fastest growing companies list for the second year.
• Finally, THEON initiated the process of becoming a participant in the United Nations Global Compact, demonstrating its commitment to sustainable and ethical practices across its operations.

Dimitris Parthenis, CFO of THEON, commented: “THEON has delivered a strong start to the year, driven by our best-in-class technologies and products and enabled by our strong supply chain. There is significant pent-up demand for night vision goggles globally. At the same time, soldiers increasingly need more advanced “augmented reality” capabilities in combat, covered by our A.R.M.E.D ecosystem. THEON is well placed to capture this demand, servicing our existing customers and winning new ones.

Our Q1 performance and order book provide us with strong visibility and confidence that we remain well on track to deliver FY 2025 results in line with guidance.”

FY 2025 Guidance

Revenue	€410 – 430 m
Adjusted EBIT margin	Mid-twenties
Capex	€20 m
Dividend (% of Net Income)	30 – 40%

THEON’s Q1 financial results are now available for download on our website: https://www.theon.com/investors/publications

For inquiries, please contact:

Investor Relations Nikos Malesiotis E-Mail: [e-mail] Tel: [phone]

Media Contact Elli Michou E-Mail: [e-mail] Tel: [phone]

About THEON GROUP
THEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 200,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024.