SALT LAKE CITY, July 28, 2026 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (NASDAQ:RCAT) ("Red Cat" or the "Company"), a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security, today issued the following statement regarding reports of a potential transaction involving Steyr Motors AG.

As part of its ongoing growth strategy, Red Cat regularly evaluates a range of potential strategic opportunities, including acquisitions, partnerships, and investments that could expand the Company’s capabilities, strengthen its supply chain, and support customers across defense, government, and commercial markets.

Red Cat evaluated and submitted a preliminary, non-binding proposal regarding a potential transaction involving Steyr Motors AG. Red Cat has withdrawn that proposal. No definitive agreement was signed, and at present Red Cat does not have an active proposal outstanding with respect to Steyr Motors AG.

The Company does not intend to comment further on market rumors, speculation, or potential transactions unless and until disclosure is required or otherwise appropriate.

About Red Cat Holdings, Inc.

Red Cat (NASDAQ:RCAT) is a U.S.-based provider of advanced all-domain drone and robotic solutions for defense and national security. Through its integrated portfolio of trusted U.S. and allied hardware and software, Red Cat supports military, government, and public safety operations across air, land, sea and space. Its systems span small unmanned aircraft systems, uncrewed surface vessels, wireless power transfer technology, and autonomous swarming software to enhance situational awareness, operational effectiveness, and mission safety. Learn more at www.redcat.red

Safe Harbor Forward-Looking Statements

This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'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. The Company's strategic plans and priorities may evolve over time in response to changing market conditions, business developments, and other factors, and the Company may or may not pursue, modify, or revisit any strategic opportunity or transaction. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Form 10-K for the fiscal year ended December 31, 2025 and the other filings that Red Cat makes with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Red Cat undertakes no duty to update such information except as required under applicable law.

Investor Contact:

Ankit Hira

Solebury Strategic Communications for Red Cat Holdings, Inc.

E-mail: RCAT@soleburystrat.com

Media Contact:

Peter Moran

Phone: (347) 880-2895

Email: peter@indicatemedia.com