Investor Update June 8, 2026 NASDAQ: PDYN Exhibit 99.2
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Purchase from Raytheon (2015) 2015 Sarcos Robotics Begins Trading Publicly (2021) 2021 2025 Raytheon Buys Sarcos (2007) 1983 2024 Sarcos becomes Palladyne AI (2024) 2007 Sarcos Spins Out of the University of Utah (1983) Joins Russell 2000 and Russell 3000 (6/2025) Palladyne AI acquires GuideTech, MKR, and Warnke (11/2025) Palladyne AI Snapshot As of June 8, 2026 Building the Foundation for Autonomous Defense COMPANY OVERVIEW U.S. aerospace, defense, and industrial technology company What We Do Design, build, and deliver advanced autonomy software, fully autonomous UAVs and loitering munitions (LM), and components How We Do It Patented Decentralized Embodied Collaborative Autonomy (DECA) — the intelligence layer delivered through purpose-built engineering + certified U.S. manufacturing NATIONWIDE PRESENCE Salt Lake City, UT -- Headquarters Who We Are Headcount ~200
SwarmOS™ The Collaborative Swarming Autonomy Layer the DoW is Looking For CAPABILITIES Enhanced Operational Effectiveness Drone & Swarm Autonomy. Sustains track on targets with autonomous collaboration. Resilience in comms denied and GPS degraded comms environments. Self-Orchestration Each UAV perceives, decides, and acts autonomously, yet collaboratively — assigning roles by mission intent. Enhanced Situational Awareness Multi-sensor fusion across EO, IR, RF, LiDAR, and radar for real-time understanding in degraded conditions. Autonomous Multi-Platform Collaboration Coordinates diverse UAV platforms into a unified fleet; optimizes coverage via shared mission information. Reduces operator burden. CAPABILITY OVERVIEW PROGRAMS & EXERCISES AFRL Relentless Wolfpack Industry Day One of 14 selected; Tier 1 prime team for networked collaborative autonomous weapon salvos. DOW JOINT EXERCISE Northern Strike 26-2 Demonstration of SwarmOS on four UAV platforms — validates cross-platform collaborative swarm autonomy in real time. COLLABORATIVE SWARMING AUTONOMY SOFTWARE +5 OTHERS
COLLABORATIVE AUTONOMY SOFTWARE Design + AI + Manufacturing — vertically integrated under one roof Embodied AI Patented Decentralized Embodied Collaborative Autonomy (DECA) — the intelligence layer DoW Priority Alignment Collaborative autonomy Low-cost attributable munitions Domestic sovereign manufacturing and supply chains AEROSPACE ENGINEERING Prime contractor DNA — concepts to flight prototype in <6 months BRAIN Avionics ~1/10th weight & cost of legacy; onboard AI inference Cost Edge Gremlin-X targets <$1K/effect: Swarmstrike < $150k/unit < 6-month concept to flight prototype U.S. MANUFACTURING Certified precision manufacturers with existing revenue and growing backlog Certifications AS9100 & ISO 9001:2015; machining & assembly Scale-Up Significant capacity available Sovereign Manufacturing Warnke + MKR In Development Gremlin-X (mini-bomber), SwarmStrike, ALRRM Active Programs F-16, F-22, F-35, C-130, Tomahawk, Harpoon, JDAM, Bradley, M1A1 Abrams Palladyne Aerospace & Defense
Combined the Best of New Defense Tech and Legacy Primes Palladyne Aerospace & Defense Synthesizes the Strengths of Both Models Palladyne Aerospace and Defense was built specifically for this moment. NEO-PRIMES LEGACY PRIMES Software-first architecture Fast iteration cycles Agile & responsive Significant IR&D Decades of technology evolution Deep domain expertise Extensive IP portfolio Scale & credibility Battle proven & time-tested weapons systems Long-term patient shareholder base Risk Tolerant
PALLADYNE AI × IAI Exclusive U.S. Strategic Partnership for Loitering Munitions World class battle-tested loitering munition systems are coming to America.
Israel Aerospace Industries: A Global Defense Powerhouse Israel’s Largest Defense Company. Top 30 Defense Company Globally. Who is IAI? Government-owned Israeli defense company founded under the initiative of Shimon Peres in 1953 Israel's largest tech employer & largest engineering workforce Trusted partner to defense establishments worldwide Record sales, profits, and backlog in 2025 $30B+ Backlog* $7.4B 2025 Revenue* 70+ Years of Continuous Innovation
& Operational Deployment* 50+ Countries Served* PORTFOLIO Defense Domains Air Land Sea *Based on publicly available information Space Cyber/ Intelligence
Battle-Proven Loitering Munitions THREE SEAD/DEAD PLATFORMS Purpose-built to suppress and destroy intermittent air-defense radar Mini HARPY Tactical SEAD/DEAD · dual-seeker Range ~100 km Endurance 1–2 hr Warhead 7–8 kg Guidance EO/IR + AR BEST POSITIONED FOR Tactical distributed SEAD Brigade · MDTF · Marine ops Organic anti-IADS capability HARPY Persistent anti-IADS SEAD/DEAD Range 200–1,000 km Endurance 6–9 hr Warhead 16–32 kg Guidance Passive AR BEST POSITIONED FOR Operational / theater SEAD Persistent anti-IADS suppression Intermittent emitter hunting HAROP Long-range SEAD/DEAD · ISR-strike Range 200–1,000 km Endurance 6–9 hr Warhead 16–23 kg Guidance EO/IR + MITL BEST POSITIONED FOR Persistent ISR-strike operations Contested distributed warfare Autonomous collaborative strike DEAL STRUCTURE Exclusive U.S. Rights Manufacture, integrate, and market IAI's loitering munitions to the U.S. Government Palladyne AI Role Adapt systems to U.S. requirements; manufacture domestically; contracts with U.S. Government IAI Role Engineering support and potential supply of key components and subsystems Expansion Potential Potential to expand to additional systems and technologies COMBAT-PROVEN HERITAGE Israel Aerospace Industries (IAI) established the loitering-munition category 40+ years ago — combat-proven across diverse campaigns. Exclusive U.S. Partnership with Israel Aerospace Industries (IAI) · Palladyne AI will Americanize, Manufacture, and Market to U.S. Government
How the Partnership Will Work From Partnership to Programs of Record Potential Components, Subsystems, and Engineering Support Market Rate Royalty AMERICANIZATION + SYSTEMS INTEGRATION CERTIFIED U.S. DOMESTIC PRODUCTION & ASSEMBLY U.S. GOVERNMENT GO-TO-MARKET SwarmOS™ INTEGRATION Today Partnership announced DoW awareness and demand development begins Next Steps Respond to U.S. Government solicitations Americanization Stand up domestic manufacturing Testing and certification Success Win contracts Systems certified First deliveries Up to 10-year exclusivity dependent on key milestones; structured to continue as the partnership delivers results for both sides.
Palladyne AI Manufacturing U.S. Production for Priority Defense Programs VERTICALLY INTEGRATED OXFORD, MI · SAGINAW, MI HEAVY FABRICATION Structural welding & large-format cutting Welding & Fabrication Plasma Arc Cutting to 10'×20'×4" Plate Rolling (up to 2"), Bending Up to 25 tons lifting capacity PRECISION CNC MACHINING Tight-tolerance components & sub-assemblies CNC Milling — 3, 4, 5 Axis CNC Boring Mills — 3, 4 Axis CNC Turning & OD Grinding CMM, Laser Engraving, Sub-assembly CERTIFICATIONS PROGRAMS SUPPORTED KEY CUSTOMERS AS9100 ISO 9001:2015 F-35 F-16 F-22 C-130 Tomahawk Harpoon JDAM Bradley M1A1 Abrams
Palladyne Aerospace & Defense: Momentum Accelerating Key Milestones Since April 1, 2026 Team Invited to 5 DoW joint exercises Multiple new drone OEM SwarmOS™ partnerships in progress Successful integration and flight of multiple drone OEM platforms using SwarmOS Completed 3-week DoW exercise running SwarmOS simultaneously on multiple drones, demonstrating collaborative autonomy across heterogeneous platforms: one operator First Flight of IntelliSwarm™: Palladyne AI’s SwarmOS Autonomous Swarming Software Integrated into its BRAIN X2 Flight Computer Significant Brain order for provider of unmanned and counter-unmanned systems Two retired flag officers added to the Defense Advisory Board: Retired Lieutenant General Sean Bernabe Retired Brigadier General Gwyn Armfield Sean Bernabe Lieutenant General (Ret.) Gwyn Armfield Brigadier General (Ret.)
THE NEW RULES OF READINESS PALLADYNE AI DELIVERS Palladyne™ IQ 2.0 SwarmOS™ Gremlin-X™ SwarmStrike™ BRAIN IAI Partnership DoW Cost-per-Effect Mandate Priorities shifting from “the biggest” to “the smartest, cheapest, fastest.” Palladyne Manufacturing IAI Partnership Reshoring and Sovereignty Executive mandate for domestic defense production and expanded military budget. SwarmOS Gremlin-X SwarmStrike IntelliSwarm DECA in Mission Systems Autonomous systems moving from concept to operational deployment and solving real problems. SwarmOS BRAIN IntelliSwarm Why Now? The World Has Changed. Tailwinds from Multiple Structural Shifts Driving Demand IntelliSwarm™ IAI Partnership Battle Proven Loitering Munitions Best-in-class SEAD and DEAD capabilities that fill a gap in the US arsenal
Thank You. INVESTOR CONTACT Brian Siegel, IRC, MBA Senior Managing Director, Investor Relations Hayden IR www.palladyneai.com brian@haydenir.com (346) 396-8696 linkedin.com/company/palladyneaicorp NASDAQ: PDYN