Red Cat Announces Proposed Voluntary Public Purchase Offer for Steyr Motors

P oposed t a sactio ep ese ts a st ategic i vestme t i Aust ia a d would suppo t Stey Moto s’ lo g-te m g owth a d Red Cat’s Blue Ops u c ewed su face vessel st ategy

SALT LAKE CITY, Oct. 19, 2026 (GLOBE NEWSWIRE) — Red Cat Holdi gs, I c. (Nasdaq: RCAT) (“Red Cat” o the “Compa y”), a U.S.-based p ovide of adva ced all-domai d o e a d obotic solutio s fo defe se a d atio al secu ity, today a ou ced a p oposed volu ta y public pu chase offe by Red Cat to acqui e all outsta di g sha es of Stey Moto s AG (“Stey Moto s”), o e of the wo ld’s leadi g compa ies i the field of customized e gi es fo missio -c itical defe se a d civil applicatio s, fo EUR 39.00 pe sha e i cash.

The p oposed t a sactio is suppo ted by the Stey Moto s’ a cho sha eholde B&C G oup a d ep ese ts a st ategic i vestme t i Stey Moto s a d Aust ia p oductio capabilities. Red Cat believes the combi atio would suppo t Stey Moto s’ lo g-te m g owth while st e gthe i g Red Cat’s Blue Ops u c ewed su face vessel (“USV”) st ategy by pai i g Stey Moto s’ adva ced ma i e e gi e tech ology, ma ufactu i g expe tise a d Eu opea ope ati g base with Red Cat’s defe se custome elatio ships a d g owi g auto omous ma itime po tfolio.

Red Cat’s visio fo Stey Moto s is ce te ed o g owth, i vestme t a d lo g-te m pa t e ship. Followi g completio of the p oposed t a sactio , Red Cat i te ds to mai tai Stey Moto s’ headqua te s, ma ufactu i g ope atio s a d R&D p ese ce i Aust ia, suppo t Stey Moto s’ existi g custome elatio ships a d custome -ag ostic e gi e busi ess, a d i vest i oppo tu ities to expa d Stey Moto s’ capabilities a d ole i the g owi g auto omous ma itime ma ket. Red Cat believes the combi atio would c eate a st o ge platfo m to se ve defe se a d gove me t custome s globally, while p ese vi g the Aust ia e gi ee i g a d ma ufactu i g fou datio that has made Stey Moto s a t usted p ovide of specialized e gi e tech ology.

“Stey Moto s has built a st o g busi ess i Aust ia with specialized e gi ee i g tale t, t usted custome elatio ships a d p ove ma i e e gi e tech ology,” said Jeff Thompso , Chief Executive Office of Red Cat. “This p oposed t a sactio is about i vesti g i that fou datio a d helpi g Stey Moto s g ow. We see Aust ia as ce t al to the futu e of the busi ess, a d ou goal is to p ovide additio al esou ces, custome access a d lo g-te m dema d that ca suppo t Stey Moto s’ employees, ope atio s a d co ti ued expa sio .”

Julia Cassutti, CEO of Stey Moto s AG, comme ts: “Fou yea s i to Stey Moto s’ t a sfo matio , I am ve y excited to lead its ext chapte with Red Cat as st ategic pa t e o ou side. Ou e gi ee i g a d Red Cat’s each i to i te atio al ma kets a e the basis fo joi t g owth, a d Red Cat sta ds fi mly behi d ou site a d ou people. Fo ou sha eholde s, the all-cash offe is a cha ce to ealize thei i vestme t i cash today. I sta d behi d this step, a d I i te d to te de my ow sha es alo gside them.”

“The pote tial t a sactio highlights Stey Moto s’ st ategic appeal a d p ese ts a oppo tu ity to fu the accele ate i te atio al expa sio , tap i to ew ma kets, a d sustai ably st e gthe access to key esou ces,” said D . Rolf Wi tz, Chai ma of the Supe viso y Boa d of Stey Moto s AG. “The Supe viso y Boa d sees sig ifica t st ategic pote tial i the p oposed combi atio . Subject to eview of the legal a d eco omic te ms a d co ditio s such as published i the offe docume t, we view the pote tial t a sactio favo ably.”

Red Cat a d Stey Moto s had p eviously held o -bi di g discussio s ega di g a pote tial t a sactio , which we e disco ti ued i July 2026. Talks we e subseque tly esumed a d have ow esulted i a fully fi a ced all-cash offe . The a cho sha eholde of Stey Moto s, B&C Holdi g Öste eich GmbH, suppo ts the st ategic t a sactio of Red Cat a d has e te ed i to a i evocable u de taki g to te de its sha es i to Red Cat’s offe , ep ese ti g app oximately 15% of Stey Moto s’ sha e capital.

T a sactio Details

The p oposed t a sactio will be st uctu ed as a volu ta y public pu chase offe by a wholly ow ed subsidia y of Red Cat fo all outsta di g sha es of Stey Moto s. The offe p ice will be EUR 39.00 pe Stey Moto s sha e i cash, subject to the te ms a d co ditio s set fo th i the offe docume t. It ep ese ts a 55.8% p emium to Stey ’s 52-week low, a 28.9% p emium to the closi g sha e p ice o Octobe 16, 2026, a d a 27.3% p emium to the 30-day volume-weighted ave age p ice.

The offe docume t is expected to be published o a dedicated t a sactio website a d made available i Ge ma a d i a o -bi di g E glish t a slatio . Red Cat expects the accepta ce pe iod, du i g which sha eholde s may te de thei sha es, to comme ce sho tly followi g publicatio of the offe docume t a d to e d o Decembe 18, 2026, at 5:00 p.m. CET.  Sha eholde s should co sult thei custodia ba k about a y applicable deadli es set by the custodia ba k which may equi e actio to be take befo e the fo mal e d of the accepta ce pe iod. The p ocess to te de sha es ca take seve al days, depe di g o the custodia ba k. Sha eholde s should co side te de i g thei sha es seve al days befo e Decembe 18, 2026.

The p oposed t a sactio emai s subject to customa y co ditio s, i cludi g egulato y app ovals i Aust ia, Italy, Aust alia a d the UK, a mi imum accepta ce th eshold of 50% plus o e sha e a d othe co ditio s to be set fo th i the offe docume t. The e ca be o assu a ce that the offe will be completed o that the p oposed t a sactio will close o the a ticipated timeli e o at all.

Additio al i fo matio ega di g the offe , i cludi g the offe docume t a d elated mate ials, is expected to be made available at i . edcatholdi gs.com whe published. Stey Moto s sha eholde s a e u ged to ead the offe docume t ca efully whe it becomes available.

About Red Cat Holdi gs, I c.Red Cat (Nasdaq: RCAT) is a U.S.-based p ovide of adva ced all-domai d o e a d obotic solutio s fo defe se a d atio al secu ity. Th ough its i teg ated po tfolio of t usted U.S. a d allied ha dwa e a d softwa e offe i gs, Red Cat suppo ts milita y, gove me t, a d public safety ope atio s ac oss ai , la d, sea a d space. Its systems spa small u ma ed ai c aft systems, u c ewed su face vessels, wi eless powe t a sfe tech ology, a d auto omous swa mi g softwa e to e ha ce situatio al awa e ess, ope atio al effective ess, a d missio safety. Lea mo e at www. edcat. ed.

About Stey Moto s AGHeadqua te ed i Stey , Aust ia, Stey Moto s AG is a global leade i the developme t a d p oductio of high-pe fo ma ce customized special e gi es with high powe de sity a d du ability. The Compa y’s e gi es a e p ima ily used fo milita y special vehicles, boats (both milita y a d civilia ) a d as auxilia y powe u its (“APU”) fo mai battle ta ks a d locomotives.

Adviso sEve co e is acti g as fi a cial adviso to Red Cat. F eshfields is acti g as legal adviso to Red Cat.

Impo ta t NoticeThis a ou ceme t is fo i fo matio pu poses o ly a d does ot co stitute a offe to pu chase o a solicitatio of a offe to sell a y secu ities. A y offe to acqui e sha es of Stey Moto s AG, if lau ched, will be made solely pu sua t to the offe docume t a d elated mate ials to be published i acco da ce with applicable law. The te ms a d co ditio s of a y offe will be gove ed exclusively by the offe docume t. Stey Moto s sha eholde s a e u ged to ead the offe docume t a d elated mate ials ca efully whe they become available because they will co tai impo ta t i fo matio about the p oposed offe .

Safe Ha bo Fo wa d-Looki g Stateme tsThis p ess elease co tai s “fo wa d-looki g stateme ts” that a e subject to substa tial isks a d u ce tai ties. All stateme ts, othe tha stateme ts of histo ical fact, co tai ed i this p ess elease a e fo wa d-looki g stateme ts. Fo wa d-looki g stateme ts co tai ed i this p ess elease may be ide tified by the use of wo ds such as “a ticipate,” “believe,” “co template,” “could,” “estimate,” “expect,” “i te d,” “seek,” “may,” “might,” “pla ,” “pote tial,” “p edict,” “p oject,” “ta get,” “aim,” “should,” “will,” “would,” o the egative of these wo ds o othe simila exp essio s, although ot all fo wa d-looki g stateme ts co tai these wo ds. Fo wa d-looki g stateme ts a e based o Red Cat Holdi gs, I c.’s cu e t expectatio s a d a e subject to i he e t u ce tai ties, isks a d assumptio s that a e difficult to p edict. These a d othe isks a d u ce tai ties a e desc ibed mo e fully i Red Cat’s fili gs with the Secu ities a d Excha ge Commissio . Fo wa d-looki g stateme ts co tai ed i this a ou ceme t a e made as of this date, a d Red Cat u de takes o duty to update such i fo matio except as equi ed u de applicable law.

I vesto Co tact:A kit Hi aSolebu y St ategic Commu icatio s fo Red Cat Holdi gs, I c.E-mail: RCAT@solebu yst at.com

Media Co tact:Pete Mo a Pho e: (347) 880-2895Email: pete @i dicatemedia.com