GAUZ

Image source: The Motley Fool. Thursday, May 7, 2026 at 4:30 p.m. ET Chief Executive Officer — Joseph Harary Joseph Harary: Thank you, Paul, and good afternoon, everyone, and thank you for joining us on our first quarter 2026 investor conference call. I was informed a little after 4:00 p.m. that the SEC website was down. I'm not sure if it's up yet or not, but our 10-K should be filed once everything gets straightened out and whatever backlog they have is cleared. As always, I appreciate the time and interest of our shareholders, customers, licensees and industry partners joining us today. Today, I want to talk about Research Frontiers, our business, our markets and also address the question I've been asked most frequently over the past 6 months, what's happening with our licensee, Gauzy. I'm going to give you an honest, informed and candid assessment of the situation and explain why I remain optimistic about their future and ours. Before discussing our operations and recent developments, I want to briefly address our first quarter financial results and some of the factors affecting the quarter. First, first quarter reported revenues compared to the same period last year were affected by the timing of revenue recognition under our license agreements as well as the nonrecurrence of upfront revenue recognized from a new license agreement entered into during the first quarter of 2025. Typically, royalties in the first quarter are almost always lower than the underlying economic activity taking place in our business because GAAP accounting requires that additional royalty revenue is not recognized until a licensee exceeds their minimum annual royalty obligation for the year. And until it exceeds that level, minimum annual royalties are basically spread out roughly evenly over each of the 4 quarters of the year. Another factor affecting the comparison was ASC 606 accounting treatment associated with the new license agreement entered into during the first quarter of 2025. Under generally accepted accounting principles, or GAAP, much of that revenue was front-loaded into the first quarter of last year. As a result, from an accounting perspective, the quarter looked weaker than the underlying economic activity taking place across several areas of our business. Sequentially, royalties from the automotive and aircraft markets increased from the fourth quarter of 2025 to the first quarter of 2026. The quarter was also affected by what we believe to be temporary operational and liquidity impacts relating to the ongoing French rehabilitation proceedings involving French subsidiaries of our licensee, Gauzy. The processing of payments to us and revenue recognition slowed because of the French proceedings and the liquidity constraints that resulted from them. Since both Gauzy and Vision Systems are strategic licensees with meaningful businesses in multiple industries relevant to us, those issues also temporarily affected our own liquidity and financial strength. Not knowing exactly how long the situation in France would take to resolve, we took steps during the quarter to strengthen our balance sheet through a focused financing with long-term accredited investors. As of March 31, 2026, cash and cash equivalents increased to approximately $1.28 million compared to approximately $664,000 at year-end 2025, and the company remains debt-free. Our operating expenses and R&D expenses also declined compared to the same period last year. We run a tight ship. Now let me turn in more detail to the subject many of you have asked about, Gauzy. There's been a tremendous amount of hard and focused work taking place there. Things have been improving, and they have been actively working through the situation. The liquidity issues affecting Gauzy have certainly impacted us temporarily. Funds sitting in France were subject to oversight as part of the rehabilitation proceedings and both Gauzy and Vision Systems needed approval from the French administrator for many financial transactions during the process. That naturally slowed payments to Research Frontiers as well as other companies. But importantly, the flow of funds has already begun loosening up. A few weeks ago, we received a meaningful payment from Vision Systems that was authorized by the French monitor. So while things have not yet fully normalized, they are beginning to normalize, and we remain optimistic that they will continue to do so. This Tuesday, May 12, there is a court hearing in France to determine the next steps. The range of possible outcomes include liquidation of the French subsidiaries, a sale process, approval of Gauzy's plan of continuance or potentially an extension of the monitoring period, although we currently believe that the most likely outcome, fortunately, is approval of Gauzy Vision Systems continuation plan. As a lawyer, I know you can never predict the outcome of a court proceeding with certainty. But based on what has been shared with me, I believe the best outcome, not only for Research Frontiers, but also for Gauzy, Vision Systems, their employees, suppliers, lenders, customers and the SPD industry overall is approval of Gauzy's continuation plan. The details underlying the continuation plan have been described to me. The plan eliminates unprofitable non-SPD business lines and provides enough capital for Gauzy to emerge from the process substantially healthier, leaner and better capitalized. Importantly, based on the information shared with me, the reorganized company could emerge with stronger working capital, lower overhead and without the drag of unprofitable legacy operations outside of the SPD business. Gauzy would have substantial working capital and suppliers, lenders and employees would be paid in full, not only in France but worldwide. In other words, if the continuation plan is approved, Gauzy could emerge from this process as a much healthier and stronger strategic partner for us and for the SPD industry overall. We have also worked on contingency plans in case the court approval does not approve Gauzy's continuation plan or decides to delay decision. Amid the mostly public silence from Gauzy, many of the things I've discussed today have been referred to in their SEC filings. Hopefully, I've helped connect some of the dots for you with additional color, context and details. Throughout this period, Gauzy has kept me informed and we have had many in-person meetings and many late night and early morning conversations. At times during the height of the war involving Iran and its proxies, conversations literally started with, I just got out of the bomb shelter or ended with, I have to call you back because sirens are going off. Travel became extraordinarily difficult at times with executives operating from multiple countries and dealing with severe transportation disruptions throughout the region. I mentioned this because it illustrates both the operational challenges they were facing outside of France and also the determination of the people there to keep their business moving forward. These circumstances also temporarily slowed some of the R&D work involving next-generation SPD products, including black SPD and certain specialized SPD film being developed primarily for automotive and architectural applications and for specific customers. Some of these projects are now getting very close to completion. If you step back and look at the last 12 months objectively, we have seen 2 licensees liquidate, another licensee -- key licensee go through restructuring proceedings in France and a highly volatile military environment in the Middle East. Despite all of that, SPD production has continued, development work has continued. Customer programs and customer engagement remain active and plans are now in place that could allow Gauzy to emerge stronger, healthier and better capitalized. That resilience says a great deal about the determination of the people involved and their belief in our SPD technology.A number of shareholders e-mailed questions primarily relating to Gauzy. I'll answer them now. John Nelson asked whether Gauzy continues to produce and deliver SPD film on schedule and whether the current situation is limiting new business opportunities. John, while there have certainly been delays and distractions associated with the French proceedings and broader operational challenges, SPD production activity has continued and multiple automotive, aerospace and architectural programs remain active. Turning now to questions mailed to me about some of the other markets, starting with automotive. Automotive projects in North America, Europe and Asia continue moving forward during the first quarter and into the second quarter of 2026. When Ferrari business transitioned from AGP to another European licensee, this transition required the successor licensee to purchase and install new specialized advanced equipment. That equipment has now been installed. So activity and investment in the SPD ecosystem continues at multiple levels from the licensees to OEMs to end customers. We continue to see strong interest in SPD because of its ability to instantly and uniformly control light, glare and heat while improving comfort, energy efficiency and the user experience. Several shareholders have submitted questions regarding the previously discussed Asian vehicle program and black SPD technology. Jared asked whether the mid-market Asian vehicle program may involve black SPD technology, while Rick Carrell has asked whether the Asian program remains active since it was not discussed in our last call. Last call was kind of long, so I didn't have a chance to catch everything, but the Asian program remains active, and it does involve black SPD. I point out that is often the case with large automotive programs, time lines and launch schedules can shift because of platform timing, integration testing, design changes, supply chain coordination and other factors. We're pretty good at dealing with that. We've been in 4 different OEMs with products put in series production. So I don't think anybody else in the world can say that. We're actively working with multiple parties on these programs, including projects involving black SPD technology currently under development. And regarding black SPD specifically, we're making encouraging progress. Black SPD has the potential to significantly expand the design flexibility and addressable market for SPD technology, particularly in automotive and architectural applications where darker neutral aesthetics are important. Several shareholders also asked about the large volume quotations we discussed on previous conference calls and whether any have been awarded. At this stage -- well, first of all, the awards go to our licensees. We just collect the royalties from those licensees. At this stage, we remain limited in what we could publicly disclose regarding customer programs and quotations, but discussions and evaluations remain active in multiple areas, including ultimate supply licensee selection. As I have noted in the past, the 2 biggest challenges to wider adoption in the automotive industry were color, especially in vertical glass applications and cost. As I said on previous conference calls, we were given aggressive price targets to match competitive technologies, and we and our licensees were able to meet those targets. So cost and color are being addressed nicely between that and the black particle. Turning to aerospace. Deliveries of SPD-Smart electronically dimmable windows for aircraft applications continued during the first and second quarter of 2026. Just today, I saw an announcement of another ACJ TwoTwenty being delivered by Airbus to one of its customers. As you may know, Vision Systems handles this business. Aerospace remains an important long-term market for SPD technology because of the operational, passenger comfort, weight maintenance and performance advantages that SPD offers compared to traditional mechanical shading systems and also compared to competing technologies. We are also advancing development efforts in specialty transportation and other applications where dynamic light control and energy management are becoming increasingly important. On the architectural side, we continue advancing our retrofit initiatives with our licensee AIT LTI. Judy McKay asked whether AIT's SPD RetroWAL system may qualify under certain low-carbon building standards. Thanks, Judy, and I apologize for the delay in responding. Retrofit applications like these are becoming increasingly attractive because they improve energy efficiency and occupant comfort without requiring full window replacement. They also can meaningfully reduce the carbon footprint of a building and allow the SPD Smart Glass to work symbiotically with the other systems in the building such as HVAC and lighting systems. That is particularly important in government buildings, transportation hubs, historic structures, commercial retrofits and other projects where replacing exterior glazing is expensive, disruptive or impractical. We believe architectural retrofit applications represent an important and near-term growth area for SPD Technology. Another shareholder asked whether there have been renewed discussions with General Motors regarding SPD following the previously reported issues with the Corvette Targa roof involving another company's electrochromic glass technology. That's a well-known competitor of ours. As you may know, like other automotive industry suppliers, we don't comment on specific OEM discussions unless programs become public. But SPD remains one of the most capable technologies available for large area automotive glazing applications because of its switching speed, uniformity, heat management and overall user experience. It is also the only switchable shading technology that has been reliably commercialized in serial production. And frankly, our public profile in automotive smart glass is second to none, and I mean to none. I recently served as keynote speaker at North America's premier automotive glass conference with many OEMs, licensees and prospective new licensees in attendance. We're also the only company that has successfully worked with 4 different OEMs to incorporate switchable glass into multiple production vehicle platforms. That's multiple models and multiple spec standards and procurement systems, and we were able to succeed in all of them. No one else has been able to do that as recently exhibited by one of our competitors. But to answer your specific question, I think that the recent negative experience that GM had with the Corvette and another supplier's technology and execution has helped us tremendously. It has shown them the strength and resiliency of our supply chain and the dominant and superior performance of SPD Smart Glass technology. We also received questions regarding sun visor development. SPD remains very well suited for dynamic visor applications because of its ability to instantly manage glare and light transmission while maintaining visibility and user comfort, and we have been approached specifically about that. Development discussions and evaluation in this area remain active. Because sun visors have relatively small surface areas, this market, similar to aircraft, also has several technologies that try to compete against us. However, none of them have the combination of switching speed, range of light transmission and logistical and performance benefits that we have with SPD technology. Now before concluding, I want to briefly address today's format. As many of you know, our conference calls are normally very open and often include extensive live Q&A. They also tend to run much longer than most typical quarterly conference calls at other companies. However, because of Gauzy's ongoing legal rehabilitation proceedings as well as ongoing discussions involving strategic opportunities and alternative paths forward, we decided not to conduct a live Q&A session today. I'm glad that we received so many mailing questions because it allowed me to cover them earlier. Given the circumstances and the sensitivity surrounding Tuesday's court proceedings in France regarding Gauzy Vision Systems, I wanted to avoid saying anything that could potentially interfere with a successful outcome there. At the same time, I also wanted to share as much meaningful information and context with our shareholders as I responsibly could. As you heard today, we incorporated many shareholder questions directly into this presentation, and I want to stress, we remain available following the call by e-mail and telephone. And in closing, as we look forward, we believe the long-term opportunities for SPD Technology remain significant. Despite the disruptions of the past year at some of our licensees, the overall platform supporting SPD technology today is broader, more diversified and more mature than any previous point in our company's history. We see opportunities across automotive, aerospace, architecture, specialty transportation and other emerging applications. Our focus remains straightforward, supporting our licensees and customers, advancing next-generation SPD technologies, executing carefully and positioning Research Frontiers for long-term and sustained growth. Thank you again for joining us today and for your continued support of Research Frontiers. Operator: The meeting has now concluded. Thank you for joining, and have a pleasant day. Before you buy stock in Research Frontiers, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Research Frontiers wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $475,926!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,296,608!* Now, it’s worth noting Stock Advisor’s total average return is 981% — a market-crushing outperformance compared to 205% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of May 8, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. REFR Q1 2026 Earnings Transcript was originally published by The Motley Fool

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Reported revenue declines were primarily driven by GAAP accounting requirements that defer royalty recognition until licensees exceed minimum annual obligations, rather than reflecting underlying economic activity. The company's financial results were temporarily impacted by liquidity constraints at Gauzy and Vision Systems due to ongoing French rehabilitation proceedings, which slowed payment processing and revenue recognition. Management strengthened the balance sheet through a focused financing with accredited investors, increasing cash reserves to approximately $1.28 million to buffer against licensee uncertainty. Operational resilience was demonstrated by sequential royalty growth in automotive and aircraft markets despite two licensee liquidations and a key licensee restructuring within the past year. The transition of Ferrari business to a new European licensee required significant capital investment in specialized equipment, which is now fully installed and operational. Management noted that the two primary barriers to mass automotive adoption, cost and color, continue to be addressed, with licensees previously meeting aggressive price targets to match competitive technologies. Management anticipates a critical court hearing on May 12 to determine the future of Gauzy's French subsidiaries, with the most likely expected outcome being the approval of a continuation plan. The proposed Gauzy continuation plan aims to eliminate unprofitable non-SPD business lines, potentially resulting in a leaner, better-capitalized strategic partner with improved working capital. Development of 'Black SPD' technology is nearing completion, which is expected to expand the addressable market in automotive and architectural sectors where neutral aesthetics are a requirement. Architectural growth is focused on the RetroWAL system, targeting the retrofit market to improve energy efficiency in government and commercial buildings without requiring full window replacement. The company is maintaining contingency plans in the event the French court delays or denies the Gauzy restructuring plan to protect its interests in the SPD ecosystem. Geopolitical volatility in the Middle East has created severe operational challenges, including transportation disruptions and R&D delays for executives operating from conflict zones. The company remains debt-free and has actively reduced operating and R&D expenses to maintain a 'tight ship' during periods of licensee instability. Management noted that a competitor's recent execution failure with General Motors has highlighted the relative strength and reliability of the SPD supply chain to major OEMs. The SEC website outage delayed the formal filing of the company's 10-K, though management confirmed it was prepared for submission. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Production of SPD film has continued despite the French legal proceedings and broader operational distractions. Multiple automotive, aerospace, and architectural programs remain active and are moving forward through the restructuring period. The Asian vehicle program remains active and specifically utilizes the new Black SPD technology currently under development. Management cautioned that launch schedules for large automotive programs often shift due to platform timing and integration testing. SPD is being actively evaluated for dynamic sun visors due to its instant switching speed and light management compared to slower competing technologies. The aerospace market remains a stable long-term driver, evidenced by recent deliveries of the Airbus ACJ TwoTwenty featuring SPD windows.

Discloses that Insolvency Proceedings Have Commenced Related to Certain French Subsidiaries Gauzy Adamantly Opposes the Proceedings and Plans to Appeal as Soon as Possible Gauzy Working with Its Lenders to Ensure Financial Viability of Its French Subsidiaries TEL AVIV, Israel, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader in vision and light control technologies, today shared that it will not be releasing its financial results for the third quarter of 2025 on November 14 as previously planned. This postponement is unrelated to Gauzy's third quarter performance. The Company will update the timing of release of its financial results as soon as practical. The reason for the delay is that, during a hearing held on November 13, 2025, the Commercial Court of Lyon, France, ordered the commencement of French law insolvency proceedings (“Redressement Judiciaire”) relating to three subsidiaries of Gauzy located in France. As is customary in such proceedings, the court ordered the appointment of two administrators and a creditor representative, responsible for advising the Company’s three subsidiaries in these proceedings. The Company strongly disagrees with the French court’s ruling and plans to have its subsidiaries appeal the decision of the court as soon as possible, while concurrently working collaboratively with the French administrators to quickly resolve the matter. The Company and its subsidiaries plan to continue normal operations as they seek to meet customer demand. Eyal Peso, Co-founder and CEO, commented, “Over the last three and a half years Gauzy has invested over $50 million in our people, assets, and operations in France. We fundamentally disagree with this decision, which we believe is unwarranted, and plan to appeal as soon as possible. Gauzy has immediately started working with the court appointed administrators to resolve this matter while ensuring business continuity for its employees, customers, and other valued stakeholders.” Background of Proceedings Redressement Judiciaire are French insolvency proceedings aimed at preserving a company’s business and operations, maintaining employment and repaying creditors while allowing for a plan to enable its recovery. Gauzy plans to have its subsidiaries appeal the decision to the Court of Appeal of Lyon as soon as possible and is currently working to ensure its subsidiaries have the financial means to meet their debts as they become due. However, pending this appeal, the insolvency proceedings will continue. Gauzy remains committed to complete transparency, and as such will provide updated information on these proceedings as soon as more information is available. About Gauzy Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 60 countries through direct fulfillment and a certified and trained distribution channel. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: the outcome of the insolvency proceedings commenced in France and the overall impact they may have on the Company’s operations and financial condition; Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the SEC on March 11, 2025. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law. Contacts Media: Brittany Kleiman Swisa Gauzy Ltd. [email protected] Investors: Dan Scott, ICR Inc. [email protected]

TEL AVIV, Israel, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader in vision and light control technologies, today announced it will release financial results for the third quarter ended September 30, 2025, before the market opens on Friday, November 14, 2025. Management will host a webcast and conference call at 8:30 a.m. EDT on the same day to review results. To participate in the conference call, dial U.S. Toll Free (800) 717-1738 and request to be connected to the Gauzy Ltd. earnings conference call. International callers should dial (646) 307-1865 and request to be connected to the same call. Investors may also listen to the call live via the “Investors” section of Gauzy’s website at www.gauzy.com. An audio replay of the conference call will be available for one week following the event. To access the replay, dial U.S. Toll Free (844) 512-2921 or International Toll (412) 317-6671, and request to be connected to replay using access code 1112120. About Gauzy Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 60 countries through direct fulfillment and a certified and trained distribution channel. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the SEC on March 11, 2025. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law. Contacts Media: Brittany Kleiman Swisa Gauzy Ltd. [email protected] Investors: Dan Scott, ICR Inc. [email protected]

WOODBURY, N.Y., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Research Frontiers Inc. (Nasdaq: REFR) announced its financial results for its third quarter of 2025. Management will host a conference call today at 4:30 p.m. Eastern Time to discuss its financial and operating results as well as recent developments. Key Comments: “SPD-SmartGlass is gaining traction worldwide. Whether it’s the retrofit glass system unveiled this week in Orlando or the expanding list of automotive, aircraft and architectural programs, our licensees are proving that SPD-SmartGlass technology delivers performance, reliability, and scalability. We’ve built the foundation, and now we’re seeing that effort translate into market momentum and global recognition.” said Joseph M. Harary, President and CEO of Research Frontiers. For more details, please see the Company’s Quarterly Report on Form 10-Q which was filed today with the SEC, the contents of which are incorporated by reference herein. About Research Frontiers Research Frontiers (Nasdaq: REFR) is a publicly traded technology company and the developer of patented SPD-Smart light-control film technology which allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Research Frontiers has licensed its smart glass technology to numerous companies that include well known chemical, material science and glass companies. Products using Research Frontiers’ smart glass technology are being used in tens of thousands of cars, aircraft, yachts, trains, homes, offices, museums and other buildings. For more information, please visit our website at www.SmartGlass.com, and on Facebook, Twitter, LinkedIn and YouTube. Note: From time to time Research Frontiers may issue forward-looking statements which involve risks and uncertainties. This press release contains forward-looking statements. Actual results, especially those reliant on activities by third parties, could differ and are not guaranteed. Any forward-looking statements should be considered accordingly. “SPD-Smart” and “SPD-SmartGlass” are trademarks of Research Frontiers Inc. CONTACT: Joseph M. Harary President and CEO Research Frontiers Inc. +1-516-364-1902 [email protected] RESEARCH FRONTIERS INCORPORATED Condensed Consolidated Balance Sheets RESEARCH FRONTIERS INCORPORATED Condensed Consolidated Statements of Operations (Unaudited) RESEARCH FRONTIERS INCORPORATED Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) For the nine months ended September 30, 2025 and 2024 For the three months ended September 30, 2025 and 2024 RESEARCH FRONTIERS INCORPORATED Condensed Consolidated Statements of Cash Flows (Unaudited)

Revenue: $20.1 million for Q2 2025. Gross Margin: 21.4%, down from 27% in the prior year period. Operational Expenses: $16.8 million, up from $14.5 million in the prior year quarter. Adjusted EBITDA: Negative $8.7 million, compared to negative $3.9 million in the prior year quarter. Free Cash Flow: Outflow of $5.2 million, improved from negative $11.5 million in the prior year quarter. Total Liquidity: $36.2 million, including $35 million of available credit line capacity. Total Debt: $53 million, including $9.2 million for short-term receivable financing. Backlog: Record backlog of $43 million to be shipped in 2025. Debt Financing: Closed on $15 million of debt financing during the quarter. Revenue Guidance: Expected to be in the range of $130 million to $140 million for the full year 2025. Adjusted EBITDA Guidance: Expected to be positive for the full year 2025. Warning! GuruFocus has detected 3 Warning Signs with GAUZ. Release Date: August 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Gauzy Ltd (NASDAQ:GAUZ) reported a significant sequential increase in their backlog of orders, confirming strong customer demand for their technology. The company closed on $15 million of debt financing under favorable terms to strengthen their balance sheet. Gauzy Ltd (NASDAQ:GAUZ) achieved a major milestone with the first customer delivery of General Motors' Cadillacs CELESTIQ, featuring the industry's largest piece of dimmable smart glass. The company launched a breakthrough prefabricated smart glass stack, a turnkey solution that accelerates OEM adoption of dynamic glazing in the automotive market. Gauzy Ltd (NASDAQ:GAUZ) is expanding into the marine sector, securing 9 programs in the maritime section, validating demand in this higher-margin segment. The company experienced supply chain and operating disruptions due to a conflict with Iran, causing shipping delays into the second half of 2025. Gauzy Ltd (NASDAQ:GAUZ) reported lower revenues compared to Q2 of 2024, attributed to timing issues rather than a decline in demand. Gross margin decreased to 21.4% from 27% in the prior year period, primarily due to dynamics within the Aeronautics division. Total operational expenses increased to $16.8 million from $14.5 million in the prior year quarter, driven by higher corporate expenses and R&D costs. Adjusted EBITDA was negative $8.7 million compared to negative $3.9 million in the prior year quarter, reflecting challenges in achieving profitability. Q: Can you elaborate on the timing dynamics that affected revenue and your confidence that these issues won't recur? A: Eyal Peso, CEO: We experienced shifts in delivery timing, particularly in the Aeronautics segment, which moved some shipments from the first half to the second half of 2025. Despite these shifts, we remain confident in our annual guidance, supported by a strong backlog of $42.9 million. The disruptions were mainly due to a temporary production halt in June, but we expect to meet our full-year targets. Q: Given the aggressive ramp-up needed in the second half, how confident are you in executing this plan? A: Eyal Peso, CEO: We have prepared the company to handle $45 million to $50 million quarters, with the necessary HR and operational capacity in place. The sales order cadence aligns with our expectations, and we are confident in our ability to execute the planned ramp-up. Q: Can you discuss the liquidity situation and your comfort level with it going forward? A: Eyal Peso, CEO: We ended the quarter with $1 million in cash but have a $35 million credit line available. We also secured $5 million in debt financing in Q3. We are focused on non-dilutive financing and are confident in our liquidity position, which supports our path to cash flow positivity by the end of 2026. Q: What are the key levers to achieving positive EBITDA this year? A: Eyal Peso, CEO: Achieving positive EBITDA hinges on ramping up revenue in the second half. We demonstrated our ability to reach adjusted EBITDA positivity with $31.1 million in revenue in Q4 2024. As long as we average $31 million to $32 million in revenue per quarter, we expect to be EBITDA positive for the full year. Q: How does the backlog mix influence your confidence in meeting full-year guidance? A: Eyal Peso, CEO: The Aeronautics segment is the largest contributor to our backlog, providing stability and confidence in our projections. This segment's backlog, combined with our strong order book, supports our full-year guidance and reinforces our confidence in meeting our targets. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.

Record Backlog Purchase Orders of $42.9 Million at Quarter End Highly Anticipated New Product Lines Announced; Includes Commercial Aircraft Cabin Shading, ADAS Smart Vision for Buses, and Pre-Fabricated Stacks for Smart Glass New Strategic Customers Secured in Architecture, Aeronautics and Safety Tech Closed on $15 Million of Debt Financing with Mizrahi Bank, Israel’s Third Largest Bank, Including $5 Million in July Reaffirms 2025 Guidance TEL-AVIV, Israel and NEW YORK, Aug. 13, 2025 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader of vision and light control technologies, today announced financial results for the second quarter ended June 30, 2025. Second Quarter 2025 Highlights (Compared to Second Quarter 2024) Revenues of $20.1 million, compared to $24.4 million Gross margin of 21.4%, compared to 27.0% Net loss of $10.7 million compared to a net loss of $23.1 million Adjusted EBITDA1 of ($8.7) million compared to ($3.9) million Purchase order backlog of $42.9 million compared $36.2 Total available liquidity of $36.2 million, including cash of $1.2 million and $35.0 million undrawn credit facility at quarter end Six Months 2025 Highlights (Compared to Six Months 2024) Revenues of $42.4 million, compared to $49.1 million Gross margin of 23.6%, compared to 26.1% Net loss of $21.5 million compared to a net loss of $36.3 million Adjusted EBITDA1 of ($14.1) million compared to ($8.7) million 1 Adjusted net loss and Adjusted EBITDA are financial measures that are not required by, or presented in accordance with, U.S. GAAP. Please see Annex A of this release for a reconciliation of Adjusted net loss to net loss and Adjusted EBITDA to net income (loss), the most directly comparable financial measures stated in accordance with GAAP for each of the periods presented. “We were pleased to see solid momentum with our multi-year contracted backlog of purchase orders growing to a record $42.9 million at quarter end alongside several key business milestones that strengthen our overall competitive position,” commented Eyal Peso, Gauzy Co-Founder and Chief Executive Officer. “Our customer General Motors has begun delivering Cadillacs with the largest ever smart glass panel in a vehicle that uses our SPD technology, marking another milestone in the EV sector. We launched a breakthrough smart glass product, a prefabricated smart glass stack, that will accelerate automotive OEM adoption of dynamic glazing. Additionally, we are expanding into the strategic high margin marine market following successful installation of our technology at the MSC terminal in Miami, and we are supporting commercial spaces for some of the biggest brands in the world, like Moderna.” “Importantly, we have seen some customers more than double orders for the year during the second quarter, and demand remains strong, however dynamics in the timing of our shipments are reflected in our results," Peso continued. “In light of that, we expect our full year results to be heavily weighted towards the second half.” Peso concluded, “We have a stronger balance sheet and record backlog that put us on firm footing into the second half. We are reaffirming our full year guidance, reflecting our confidence in our ability to execute on the substantial opportunities ahead. My conviction in Gauzy’s strategic direction and growth remains as strong as ever, as evidenced by the significant purchase of shares I made during the quarter. We look forward to delivering on our goals and creating exceptional shareholder value.” Top Business Milestones and Accomplishments Since Last Earnings Release First customer deliveries of General Motors' Cadillac CELESTIQ with industry's largest Smart Glass panel with Gauzy SPD Launched its prefabricated Smart Glass Stack, accelerating automotive smart glazing Adoption by Tier 1s and OEMs Expansion into strategic, high margin marine sector including nine marine contracts to date New major cities equipped with Smart-Vision ADAS on bus fleets now include Manchester, U.K. and Strasbourg, France Major companies like Moderna choose Gauzy LCG® smart glass for commercial spaces and company headquarters New products to be launched and revealed include AI-Powered ADAS Smart-Vision for Buses, and commercial cabin shading in Aeronautics CEO purchased 210,000 shares during second quarter as previously announced Second Quarter 2025 Results Revenues for the second quarter were $20.1 million compared to $24.4 million in the prior year quarter. The difference was primarily driven by multiple segments experiencing shifts in the timing of deliveries, which are not expected to impact full year deliveries. Gross profit for the second quarter was $4.3 million compared to $6.6 million in the prior year quarter. Gross margin for the second quarter was 21.4% compared to 27.0% in the prior year quarter, primarily attributable to lower revenues over a fixed cost base, particularly in Aeronautics. Total operating expenses for the second quarter were $16.8 million, compared to $14.5 million in the prior year quarter, mainly due to higher corporate expenses associated with being a public company versus a private company during the same quarter last year, as well as higher D&A and R&D. Net loss for the second quarter was $10.7 million compared to $23.1 million in the prior year quarter, mainly due to a decrease in financial expenses and interest expense, partially offset by an increase in total operating expenses and a decrease in gross profit. Adjusted EBITDA for the second quarter was ($8.7) million compared to ($3.9) million in the prior year quarter, primarily driven by the same factors outlined above for gross profit and operating expenses. Segment Performance (U.S. dollars in thousands) Balance Sheet, Liquidity and Cash Flow As of June 30, 2025, the Company had total liquidity of $36.2 million, including $1.2 million of cash and cash equivalents and $35.0 million of available capacity under its undrawn credit line. At quarter-end total debt was $53.0 million, including $9.2 million of short-term receivable financings. During the quarter the Company closed on $10 million of debt financing with Mizrahi Bank, Israel’s third largest bank, and subsequent to quarter end expanded borrowings by an additional $5 million under similar terms with Mizrahi Bank, further enhancing liquidity. The Company remains committed to funding the business through non-dilutive capital sources and expected future cash flows. Guidance The Company continues to expect full year revenue to be in the range of $130 million to $140 million. Based on the benefit of scale, favorable operating leverage and strong recurring revenue base, the Company expects Adjusted EBITDA to be positive for the full year 2025. Conference Call and Webcast: Gauzy will host a conference call and webcast to discuss its results for the second quarter ended June 30, 2025 and other information related to its business at 8:30 a.m. Eastern Daylight Time on Wednesday, August 13, 2025. The webcast of the conference call can be accessed on the "Investors" section of Gauzy’s website at www.investors.gauzy.com. For those unable to access the website, the conference call will be accessible domestically and internationally, by dialing (800) 717-1738 or (646) 307-1865, respectively. Upon dialing in, please request to be connected to the Gauzy earnings conference call. To access the replay of the call, dial (844) 512-2921 (Domestic) or (412) 317-6671 (International) and enter the passcode 1112120. About Gauzy Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 60 countries through direct fulfillment and a certified and trained distribution channel. Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. In particular, forward-looking statements in this press release include its anticipated revenues and other results for the year ended December 31, 2025. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the SEC on March 11, 2025 and in subsequent filings with the SEC. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law. Non-GAAP Disclosure In addition to Gauzy’s financial results reported in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”), this press release and the accompanying tables and related presentation materials may contain one or more of the following Non-GAAP financial measures: Adjusted Net Loss, EBITDA, Adjusted EBITDA, Net Loss Margin and Adjusted EBITDA Margin. Gauzy believes that these measures provide useful information about its operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key measures used by management in its financial and operational decision making. Non-GAAP financial measures have limitations as analytical tools and may not be comparable to companies in other industries or within the same industry with similarly titled measures of performance. In addition, these non-GAAP measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. The presentation of this financial information is not intended to be considered as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these Non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures and not rely on any single financial measure to evaluate our business. Adjusted Net Loss. The Company defines Adjusted Net Loss as Net Loss, adjusting for certain financial expenses, the amortization of intangible assets, certain acquisition and debt raising related costs, non-cash fair value adjustments and expenses related to equity-based compensation and doubtful debts. EBITDA. The Company defines EBITDA as Net Loss, excluding net financial expense, tax expense and depreciation and amortization. Adjusted EBITDA. The Company defines Adjusted EBITDA as EBITDA (as defined above) excluding acquisition-related costs, one-time expenses, equity-based compensation expenses and doubtful debts. Net Loss Margin. The Company defines Net Loss Margin as Net Loss for the period divided by revenue for the same period. Adjusted EBITDA Margin. The Company defines Adjusted EBITDA Margin as Adjusted EBITDA (as defined above) for the period divided by revenue for the same period. For more information on the Non-GAAP financial measures, please see the reconciliation tables provided in this press release. The accompanying reconciliation tables have more details on the U.S. GAAP financial measures that are most directly comparable to Non-GAAP financial measures and the related reconciliations between these financial measures. Contacts Media: Brittany Kleiman Swisa Gauzy Ltd. [email protected] Investors: Dan Scott, ICR Inc. [email protected]

TEL AVIV, Israel, July 16, 2025 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader in vision and light control technologies, today announced it will release financial results for the second quarter ended June 30, 2025, before the market opens on Wednesday, August 13, 2025. Management will host a webcast and conference call at 8:30 a.m. EDT on the same day to review results. To participate in the conference call, dial U.S. Toll Free (800) 717-1738 and request to be connected to the Gauzy Ltd. earnings conference call. International callers should dial (646) 307-1865 and request to be connected to the same call. Investors may also listen to the call live via the “Investors” section of Gauzy’s website at www.gauzy.com. An audio replay of the conference call will be available for one week following the event. To access the replay, dial U.S. Toll Free (844) 512-2921 or International Toll (412) 317-6671, and request to be connected to replay using access code 1112120. About Gauzy Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and the United Arab Emirates. Gauzy serves leading brands across aeronautics, automotive, and architecture in over 60 countries through direct fulfillment and a certified and trained distribution channel. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the SEC on March 11, 2025. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law. Contacts Media: Brittany Kleiman Swisa Gauzy Ltd. [email protected] Investors: Dan Scott, ICR Inc. [email protected]