Leonardo DRS Announces Closing of Merger with RADA

Date: Issue 120 - February 2023

Leonardo announced the completion of the all-stock merger between its US subsidiary Leonardo DRS, Inc. (“Leonardo DRS”) and RADA Electronic Industries Ltd. (“RADA”), together also becoming a combined publicly listed company (the “Combined Company”).

As previously disclosed, Leonardo will retain an 80.5% ownership in the Combined Company through its US subsidiary Leonardo US Holding, with RADA existing shareholders owning the remaining 19.5%. Leonardo DRS’ stock will be listed on the NASDAQ and the Tel Aviv Stock Exchange (“TASE”) under the symbol “DRS”.