VA-FLIR-SYSTEMS-INC

FLIR Systems, Inc. (NASDAQ: FLIR) announced it has been awarded a full-rate production option worth $21.8 million on an indefinite-delivery/ indefinite-quantity (IDIQ) contract with the United States (U.S.) Army. FLIR will deliver its Agentase^™ C2 disclosure spray to detect G- and V-series nerve agents, highly toxic chemical warfare agents. The contract will support the Army’s Contamination Indicator/Decontamination Assurance System (CIDAS) program, a ‘program of record’ within the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND).

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FLIR Agentase C2 spray quickly changes color on a surface if a chemical warfare agent is present. With faster and more targeted detection, military decontamination experts can locate trace levels of contamination and precisely mitigate the threat.

“Nerve agents such as VX and sarin are of vital concern to the U.S. military,” said FLIR Vice President and General Manager of Sensor Systems, Tim Durham. “Our Agentase C2 spray technology enables rapid detection of highly toxic substances while reducing the lifecycle cost of decontamination operations. FLIR is proud to continue its important work with the Army delivering solutions that help safeguard our warfighters.”

The original IDIQ contract dates to 2015 and consisted of an engineering and manufacturing development phase, followed by low-rate initial production phase. This latest award initiates the full-rate production phase. Shipments are expected to begin in the fourth quarter of 2020. The contract is expected to be completed in 2025.

FLIR is currently supporting two efforts by JPEO-CBRND to field the Agentase C2 product line to the Joint Services under CIDAS. In September 2019, FLIR announced a $35.1 million contract with the U.S. Army to deliver its disclosure spray formulated for blister agents such as sulfur mustard.

For more on FLIR’s chemical agent disclosure spray, visit www.flir.com/AgentaseC2 .

About FLIR Systems, Inc.

Founded in 1978, FLIR Systems is a world-leading industrial technology company focused on intelligent sensing solutions for defense and industrial applications. FLIR Systems’ vision is to be “The World’s Sixth Sense,” creating technologies to help professionals make more informed decisions that save lives and livelihoods. For more information, please visit www.flir.com and follow @flir .

Forward Looking Statements

The statements in this release by Tim Durham and the other statements in this release about the contract and order described above are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates, and projections about FLIR's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: the ability to manufacture and deliver the systems referenced in this release, changes in pricing of FLIR's products, changing demand for FLIR's products, product mix, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of FLIR to manufacture and ship products in a timely manner, FLIR's continuing compliance with U.S. export control laws and regulations, and other risks discussed from time to time in FLIR's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and FLIR does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes made to this document by wire services or Internet service providers.

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