Exhibit 99.1

Ondas Holdings Reports Third Quarter 2023 Financial Results

$10.7 million in year-to-date revenues puts Ondas on track to meet prior revenue target of $15 million for the full year 2023

Record delivery of product shipments to Siemens drove Ondas Networks revenue to $2.4 million, a 60% Q-over-Q growth for the business unit

Ondas Autonomous Systems (OAS) recently reported $2.6 million order for fleet expansion in Dubai reflecting increased demand in security and public safety markets

Conference Call Scheduled for Today at 8:30 a.m. ET

WALTHAM, MA – November 14, 2023 - Ondas Holdings Inc. (Nasdaq: ONDS) (“Ondas” or the “Company”), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, reported financial and operating results for the third quarter ended September 30, 2023.

“As we continue our hard work at Ondas, I want to firstly highlight the remarkable courage displayed by our team in Israel in the midst of a challenging conflict,” said Eric Brock, Ondas’ Chairman, CEO, President and Interim CFO. “I am inspired by their bravery as they keep their families and country safe. Despite these challenges, we are more focused than ever on developing and delivering mission-critical solutions that improve safety and efficiency, from rails to the skies. I am grateful for the commitment of our global team as we work across geographies and business units to drive our shared success.

“Ondas remains positioned for significant growth in the coming quarters and years. Our balance sheet was strengthened with $25 million of growth capital during July and in the third quarter we achieved record revenue and product shipments at Ondas Networks. Critical field work with Class I Rail customers and Siemens progressed at Ondas Networks as migration plans advanced with initial customers for the new 900 MHz network. With the adoption of the dot16 platform well underway, we are moving ever closer to volume orders and commercial deployments with the railroads.

“Customer engagement at Ondas Autonomous Systems (OAS) continues to progress as evidenced by the recently announced $2.6 million fleet expansion with Airobotics’ governmental customer in Dubai for immediate delivery of additional Optimus Systems. This deployment demonstrates the unique reliability and effectiveness of the Optimus System, while highlighting its maturity, automation, and aerial capabilities. Similarly, the recently awarded Type Certificate for the Optimus drone by the U.S. Federal Aviation Administration (FAA) has been well received and is driving increased interest from customers.

“Our business development in the U.S. with American Robotics is beginning to pay off with the MassDOT Aeronautics pilot program which is launching soon. The addition of Tim Tenne as American Robotics’ CEO is well timed, as we begin to see our marketing efforts drive a growing customer pipeline in the U.S. with customers identified for additional expected proof of concept deployments targeted for the first quarter of 2024.

“We believe Ondas is well positioned to continue driving adoption of our platform technologies across both Ondas Networks and OAS as we increase production and field capacity to fulfill expected order growth over the next twelve to eighteen months.”

Q3 2023 and Recent Highlights – Ondas Networks 

Stewart Kantor, Ondas Networks Founder, President and CFO, commented, “Ondas Networks had another record revenue quarter with substantial growth over the recent second quarter. We continued to make progress in our field activity and contract negotiations with customers for the 900 MHz network with an emphasis on helping the rails meet their pending timelines. We have now addressed most of our prior production and supply chain constraints and have confidence we can meet our customers’ future demands. In addition to advancing the 900 MHz network, we continue to pursue new product and end market opportunities in both Freight Rail and Transit and are optimistic these will lead to new business activity.”

Q3 2023 and Recent Highlights – Ondas Autonomous Systems (OAS)

OAS President Meir Kliner commented, “Ondas Autonomous Systems continued to advance its business via expanding orders with existing customers, the entering into new global distribution agreements, and through the repositioning of the American Robotics go-to-market strategy in the United States. The Type Certificate award for the Optimus drone by the FAA is expected to boost demand for the Optimus System globally, and with the addition of Tim Tenne to the leadership team we see the customer pipeline in the U.S. creating attractive opportunities for new customer deployments entering 2024. Further, while we navigate the war-related operational challenges in Israel, tailwinds related to a growing demand for new technologies in defense and security related sectors supports a robust outlook for adoption of our Optimus and Iron Drone solutions in both industrial and government markets. We believe we are well positioned to grow significantly in the coming quarters.”

Third Quarter 2023 Financial Results

Revenues increased to $2.7 million for the three months ended September 30, 2023, compared to $0.6 million for the three months ended September 30, 2022. The more than 300% increase in revenue was primarily due to higher product revenues at Ondas Networks and Airobotics.

Gross profit increased to $0.6 million for the three months ended September 30, 2023, compared to $0.4 million for the three months ended September 30, 2022. Gross margin declined to 20.8% for the three months ended September 30, 2022, compared to 63.2% for the three months ended September 30, 2022. The margin decline is primarily due to costs, including labor for Optimus customer service operations, during a quarter when we recognized a comparatively low level of Optimus-related product and service revenues. Gross margins can be volatile on a quarter-to-quarter basis due to low revenue levels and shifts in revenue mix between product, development, and services revenues.

Operating expenses declined by 53% to $6.5 million for the three months ended September 30, 2023, as compared to $13.9 million for the three months ended September 30, 2022. This significant decline in operating expenses reflects the reduction in operating costs and expense controls implemented in connection with integrating Airobotics and establishing the OAS business unit in January 2023, despite the expansion of our global operations at OAS. In addition, stock-based compensation was $3.3 million lower in the current quarter versus the prior year primarily due to a $2.3 million reversal of stock-based compensation related to employee departures.

Cash operating expenses during the third quarter of 2023 equaled $7.5 million, which was lower than $9.5 million in the third quarter of 2022 and also declined from the second quarter of 2023. Lower cash operating expenses reflect management strategies to control costs and promote efficient investment in business development. Cash operating expenses during the third quarter of 2023 exclude non-cash operating items during the period, including $1.3 million in depreciation and amortization, and $0.8 million of non-cash interest expense, offset by the reversal of stock-based compensation.

Operating loss narrowed by 56% to $5.9 million for the three months ended September 30, 2023, compared to a loss of $13.6 million for the three months ended September 30, 2022. The lower operating loss was primarily driven by a decline in operating expenses as described above.

Other expenses increased to $1.4 million for the three months ended 2023, a $1.3 million increase as compared to the same period in 2022. The increase was largely due to interest and amortization expenses related to the convertible notes.

Net loss narrowed by 46% to $7.3 million for the three months ended September 30, 2023, as compared to a net loss of $13.6 million for the three months ended September 30, 2022. The lower net loss was primarily due to the benefit of lower operating expenses.

Excluding non-cash expenses, the Company realized an EBITDA loss of $6.9 million for the three months ended September 30, 2023, as compared to $11.0 million for the three months ended September 30, 2022.

The Company held cash and cash equivalents of $21.0 million as of September 30, 2023, compared to $29.8 million as of December 31, 2022. The decline in cash and cash equivalents is the result of operating losses incurred during the first nine months of 2023, in addition to $5.5 million of cash used to repay debt and $5.1 million of cash used for an increase in working capital. The use of cash during the first nine months of 2023 was offset by $25.0 million in gross cash proceeds raised during the third quarter through the sale of convertible notes and Ondas Networks preferred stock.

Operational and Financial Outlook for 2023

Ondas expects to achieve its full year 2023 revenue target of $15 million, a more than 6-fold increase over full year 2022 revenues of $2.2 million. Revenue for the fourth quarter 2023 is expected to be $4.2 – $4.4 million and cash operating expenses are expected to be approximately $7.0 million. We continue to expect substantial growth in 2024 as commercial adoption scales at both Ondas Networks and OAS.

Revenue growth is expected to fluctuate quarter-to-quarter given the uncertainty around the timing of customer activity, both related to orders and equipment production in connection with the commercial rollout for the 900 MHz Rail network and the timing of OAS’s orders and deliveries to the UAE and U.S. customers.

Earnings Conference Call & Audio Webcast Details

Date: Tuesday, November 14, 2023 

Time: 8:30 a.m. Eastern time 

Toll-free dial-in number: 844-883-3907 

International dial-in number: 412-317-5798 

Call participant pre-registration link: Here The Company encourages listeners to pre-register, which allows callers to gain immediate access and bypass the live operator.

Webcast Link: Here

Please note that you can register at any time during the call. For those who choose not to pre-register, please call the conference telephone number 10-15 minutes prior to the start time, at which time an operator will register your name and organization.

The conference call will also be broadcast live and available for replay here and via the investor relations section of the Company’s website at ir.ondas.com. A replay will be accessible from the investor relations website after completion of the event. 

Non-GAAP Financial Measure

As required by the rules of the Securities and Exchange Commission (“SEC”), we provide a reconciliation of EBITDA, the non-GAAP financial measure, contained in this press release to the most directly comparable measure under GAAP, which reconciliation is set forth in the table below.

We believe that EBITDA facilitates analysis of our ongoing business operations because it excludes items that may not be reflective of, or are unrelated to, the Company’s core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate EBITDA differently, and therefore our measures may not be comparable to similarly titled measures used by other companies. EBITDA should only be used as supplemental measures of our operating performance.

We believe that EBITDA improves comparability from period to period by removing the impact of our capital structure (interest and financing expenses), asset base (depreciation and amortization), tax impacts and other adjustments as set out in the table below, which management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses.

Management uses EBITDA in making financial, operating, and planning decisions and evaluating the Company’s ongoing performance.

About Ondas Holdings Inc 

Ondas Holdings Inc. (“Ondas”) is a leading provider of private wireless data solutions via Ondas Networks Inc. (“Ondas Networks”) and commercial drone solutions through American Robotics, Inc. (“American Robotics” or “AR”) and Airobotics LTD (“Airobotics”), which we operate as a separate business unit called Ondas Autonomous Systems.  

Ondas Networks is a developer of proprietary, software-based wireless broadband technology for large established and emerging commercial and government markets. Ondas Networks’ standards-based (802.16s), multi-patented, software-defined radio FullMAX platform enables Mission-Critical IoT (MC-IoT) applications by overcoming the bandwidth limitations of today’s legacy private licensed wireless networks. Ondas Networks’ customer end markets include railroads, utilities, oil and gas, transportation, aviation (including drone operators) and government entities whose demands span a wide range of mission critical applications.  

Our Ondas Autonomous Systems business unit designs, develops, and markets commercial drone solutions via the Optimus System and the Iron Drone Raider™ (the “Autonomous Drone Platforms”). The Autonomous Drone Platforms are highly automated, AI-powered drone systems capable of continuous, remote operation and are marketed as “drone-in-a-box” turnkey data solution services. They are deployed for critical industrial and government applications where data and information collection and processing are required. The Autonomous Drone Platforms are typically provided to customers under a Robot-as-a-Service (RAAS) business model. American Robotics and Airobotics have industry leading regulatory successes which include a first of its kind FAA Type Certification for the Optimus System and having the first drone system approved by the FAA for automated operation beyond-visual-line-of-sight (BVLOS) without a human operator on-site.  

Ondas Networks, American Robotics and Airobotics together provide users in oil & gas, rail, mining, agriculture, public safety and other critical infrastructure and government markets with improved connectivity and data collection and information processing capabilities. 

For additional information on Ondas Holdings, visit www.ondas.com or follow Ondas Holdings on X formerly known as Twitter and LinkedIn. For additional information on Ondas Networks, visit www.ondasnetworks.com or follow Ondas Networks on X and LinkedIn. For additional information on American Robotics, visit www.american-robotics.com or follow American Robotics on X and LinkedIn. For additional information on Airobotics, visit www.airoboticsdrones.com or follow Airobotics on X and LinkedIn.

Information on our websites and social media platforms is not incorporated by reference in this release or in any of our filings with the U.S. Securities and Exchange Commission. 

Forward-Looking Statements 

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including the risks discussed under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law. 

Contacts 

IR Contact for Ondas Holdings Inc. 

888.350.9994

ir@ondas.com 

Media Contact for Ondas

Preston Grimes

Marketing Manager, Ondas Holdings Inc.

preston.grimes@ondas.com

10

Exhibit 99.2

Third Quarter 2023 Earnings Release Copyright 2023. All rights reserved.

NASDAQ: ONDS | November 2023 2 Nasdaq: ONDS This presentation may contain "forward - looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning . Ondas Holdings Inc . (“Ondas” or the “Company”) cautions readers that forward - looking statements are predictions based on its current expectations about future events . These forward - looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict . The Company’s actual results, performance, or achievements could differ materially from those expressed or implied by the forward - looking statements as a result of a number of factors, including, the risks discussed under the heading “Risk Factors” in the Company’s most recent Annual Report on Form 10 - K filed with the U . S . Securities and Exchange Commission (“SEC”), in the Company’s Quarterly Reports on Form 10 - Q filed with the SEC, and in the Company’s other filings with the SEC . The Company undertakes no obligation to publicly update or revise any forward - looking statements, whether as a result of new information, future events or otherwise that occur after that date, except as required by law .

Disclaimer 3 Nasdaq: ONDS As required by the rules of the Securities and Exchange Commission (“SEC”), we provide a reconciliation of EBITDA, the non - GAAP financial measure, contained in this presentation to the most directly comparable measure under GAAP, which reconciliation is set forth in the table included in the Appendix of this presentation . We believe that EBITDA facilitates analysis of our ongoing business operations because it excludes items that may not be reflective of, or are unrelated to, the Company’s core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses . Other companies may calculate EBITDA differently, and therefore our measures may not be comparable to similarly titled measures used by other companies . EBITDA should only be used as supplemental measures of our operating performance . We believe that EBITDA improves comparability from period to period by removing the impact of our asset base (depreciation and amortization) and other adjustments as set out in the table included in the Appendix of this presentation, which management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses . Management uses EBITDA in making financial, operating and planning decisions and evaluating the Company's ongoing performance . Non - GAAP Financial Measure 4 Nasdaq: ONDS Opening Remarks Tailwinds strengthening; value increasing

5 Nasdaq: ONDS Leadership Team MEIR KLINER PRESIDENT Meir is an entrepreneur with over 20 years of proven track record in aerospace development and manufacturing. STEWART KANTOR PRESIDENT & CFO Stewart brings over 20 years of experience in the wireless industry to Ondas Networks. TIM TENNE CEO Tim brings over 30 years of experience in military and commercial aerospace operations, regulatory, and leadership. ERIC BROCK CHAIRMAN, CEO & INTERIM CFO Eric is an entrepreneur with over 25 years of management and investing experience.

6 Nasdaq: ONDS Agenda Ondas on track for a breakout 2023 • Introduction • Financial Review & Outlook • Business Update • Ondas Networks • Ondas Autonomous Systems (OAS) • Closing Remarks • Q&A 7 Nasdaq: ONDS Introduction Strong 2023 marks transition to platform adoption • $2.7M revenue delivered in Q3; $10.7M revenue year - to - date • Ondas Networks generated record $2.4 million revenue in Q3 • Strengthened balance sheet with $25M in growth capital raised from private and institutional investors • Field activity with Class I rails advanced ; pipeline is growing with 900 MHz migration deadlines nearing • Received Type Certificate from the FAA for our Optimus UAV; validates system quality and supports increased customer engagement • Iron Drone Raider development accelerated to meet IDF requirements • Appointed Tim Tenne new CEO of American Robotics to lead U.S.

expansion • UAE governmental entity continues fleet expansion across Dubai for public safety operations 7 8 Nasdaq: ONDS KEY FINANCIAL INSIGHTS: • P&L reflects early stage of initial platform adoption for Ondas Networks and OAS • Strong year - over - year growth driven by record product shipments at Ondas Networks • Gross margin lower on product mix; remains volatile • Operating expense improvement driven by expense controls and stock - based compensation reversals (1) Earnings (Loss) before interest, depreciation, amortization, stock - based compensation, taxes, and amortization of debt discount Financial Review Q3 2023 8 Three Months Ended September 30, SELECT P&L DATA 2022 2023 (Unaudited) $ 632,489 $ 2,665,190 Revenues, net 233,001 2,110,312 Cost of goods sold 399,488 554,878 Gross profit Operating expenses: 7,362,274 2,563,319 General and administration 792,613 1,224,144 Sales and marketing 5,793,345 2,701,436 Research and development 13,948,232 6,488,899 Total operating expenses $ (13,548,744) $ (5,934,021) Operating loss SUPPLEMENTAL INFO: $ 1,057,218 $ 1,300,797 Depreciation and Amortization 1,483,155 (2,266,875) Stock - based Compensation 2,540,373 (966,078) Total (11,008,371) (6,900,099) EBITDA (1)

9 Nasdaq: ONDS KEY FINANCIAL INSIGHTS: • Cash balance of $21.0 million • Operating cash burn includes working capital investment of $5.1 million • Cash provided by financing includes: • $25 million gross proceeds raised during the third quarter at Ondas Holdings (convertible notes) and Ondas Networks (preferred stock) • Cash repayment of indebtedness of $5.5 million • Businesses remain capital light from a CapEx perspective Financial Review YTD Q3 2023 9 Nine Months Ended September 30, SELECT CASH FLOW DATA 2022 2023 (Unaudited) $ (26,198,673) $ (28,108,744) Net cash used in operating activities (5,497,069) 644,936 Net cash provided by (used in) investing activities 6,164,176 18,700,603 Net cash provided by financing activities (25,531,566) (8,763,205) Increase (Decrease) in cash 40,815,123 29,775,096 Cash, cash equivalents and restricted cash, beginning $ 15,283,557 $ 21,011,891 Cash, cash equivalents and restricted cash, end 10 Nasdaq: ONDS KEY FINANCIAL INSIGHTS: • Balance sheet fortified by new investment at Ondas Holdings and Ondas Networks • Convertible notes amortize monthly through maturity via equity issuance or cash payments; unless amortization is deferred • Convertible notes mature in April 2025 and July 2026 10 Balance Sheet Q3 2023 December 31, September 30, SELECT BALANCE SHEET DATA 2022 2023 (Unaudited) ASSETS $ 29,775,096 $ 21,011,891 Cash, cash equivalents and restricted cash $ 97,945,245 $ 100,645,018 Total assets LIABILITIES AND STOCKHOLDERS' DEFICIT $ 300,000 $ 300,000 Other debt 15,849,445 26,065,390 Convertible notes, current (1) 14,198,690 4,262,954 Convertible notes, long - term (2) $ 30,348,135 $ 30,628,344 Total Debt $ 39,722,338 $ 44,420,021 Total liabilities $ - - $ 11,029,479 Redeemable noncontrolling interests $ 58,222,907 $ 45,195,518 Total stockholders' equity $ 97,945,245 $ 100,645,018 Total liabilities and stockholders' equity (1) net of unamortized issuance cost of ($2,532,734) and ($2,303,664), respectively (2) net of unamortized issuance cost of ($528,713) and ($948,201), respectively

Nasdaq: ONDS Financial Outlook Continue to see significant growth in 2024 and beyond • Maintain $15 million revenue target for full year 2023 • Expect ~ $4.2 – $4.4 million in revenue for Q4 2023 • OAS is on path to achieve original targets set at close of Airobotics acquisition in January • Continue to track volume orders at Ondas Networks; tracking new customer orders in OAS, both in the U.S.

and in ROW • Continue to maintain tight cost controls with a focus on driving a path to profitability; expect cash operating expenses of $7.0 million in Q4 2023 • Significant revenue ramp still expected in 2024 and beyond for both business units 11 13 Nasdaq: ONDS RAILROADS FOCUSED ON 900 MHz LAUNCH $2.4 MILLION Record Revenue in Q3 Over $5 Million YTD through September 30, 2023 RECORD VOLUME Another record volume of shipments to Siemens CLASS I RAILS Engaged in field activity to support commercial deployment planning activities and negotiations for volume orders MOMENTUM BUILDING Industry momentum building for orders and deployment planning 900 MHz Migration in Motion The dot16 adoption cycle starting in Rail and 900 MHz 14 Nasdaq: ONDS Preparing for 900 MHz Upgrade 2025 deadlines support expected order ramp • Ondas and Siemens engaged in field and purchasing groups • Rail operations teams (e.g., C&S groups) with budgets and responsibility for network operations • Initial deployments focused on critical network and high traffic locations, as well as new “vital communications” end points such as railroad crossings • Siemens negotiating orders; pricing and deployment plans being outlined • MxV Rail continues to advance dot16 integration • Network controller development • Preparing new work on 160 MHz • Production capacity scaling • Recent financing provides working capital for inventory build • Transitioned to contract manufacturer to increase production capacity • Strong customer activity at RSSI show in Indianapolis in early October with new Transit engagement

15 Nasdaq: ONDS New photo Outlook for Ondas Networks Production ramp accelerates; tracking major orders for 900 MHz • Grow revenue and orders • Continue production capacity expansion in advance of expected volume orders • Secure major volume orders in Q4 2023; build inventory in front of 900 MHz migration • Continue product and network development • Siemens and Ondas field activity intensifying with increasing number of Class I Rails • Advancing product development programs; new opportunities emerge • Siemens UK for on - locomotive • Passenger and transit programs • Focus on cash efficiency; path to profitability • Revenue and gross profit to scale and increasingly offset OPEX • Maintain culture of strong cost controls 15 17 Nasdaq: ONDS Customer & Strategic Activity Laying foundation for global platform adoption and scaled operations • Business scaling globally on multiple continents • Fleet expansion in Dubai continues with $2.6 million order for immediate delivery of additional Optimus Drone Systems from a local governmental entity • Successfully completed landmark maritime safety proof - of - concept (PoC) of Optimus Infrastructure in Haifa port area in Israel • Announced Maghrebnet partnership in Morocco; continuation of partnership strategy enacted in Kingdom of Saudi Arabia & India • Continuing UAS and C - UAS Innovation • Received a grant of approximately $ 540 , 000 from the Israel Innovation Authority (IIA) to advance the Iron Drone Raider, an AI - driven counter - drone system

18 Nasdaq: ONDS Advancing Iron Drone Raider Demand for Counter - UAS solutions is accelerating • Advancing development of Iron Drone Raider for Israeli Defense Force (IDF) • Engaged with Israeli defense contractors to support integrated solution • Leveraging work connected to Israeli Innovation Authority grant received in August 2023 • Unique and proprietary C - UAS solution to neutralize hostile drone threats • Fully autonomous platform • Innovative, AI - driven capture capabilities • Large, growing market for Counter - UAS solutions • TAM estimated at $4.7 billion by 2030 (24.7% CAGR) by Market Future Research 19 Nasdaq: ONDS Customer & Strategic Activity Advancing Product & Customer Pipeline • Airobotics Optimus - 1EX drone FAA Type Certification secured; supports scaling with customers globally • Second sUAS to receive Type Certification for system; only certified drone platform designed for security and data collection use • Enables complex aerial missions over people, vehicles, and critical infrastructure accelerating and broadening market entry into the U.S.

• Gaining traction in United States • Tim Tenne named American Robotics CEO to lead expansion plan • Commencing POC with MassDOT Aeronautical which includes Optimus System demonstrations at multiple locations • Advanced marketing and negotiations with additional customers to launch POCs for 2024 in industrial and government markets, including Rail, Utilities, O&G, and DOTs 20 Nasdaq: ONDS TIM TENNE – AMERICAN ROBOTICS CEO • Retired military officer, pilot, and commander • Led development of world's first FAA UAS/drone regulations • Experienced executive in multi - mode transportation (aviation, rail and transit) • Leadership positions at multiple commercial UAS companies • Over 15,000 flight hours; certified in multiple aircraft • Licensed attorney in multiple jurisdictions American Robotics Autonomous platforms drive growth opportunity • Best - in - class automated security and data solutions • Accurate, reliable, real - time security and data • Automation required to scale • Drive adoption of Optimus platform • Marketing and customer qualification in U.S.

progressing • Leverage growing partnerships and technology ecosystem • Evolve into broader automated security and data solutions provider • Focus on broad UAS solutions for Industrial, public safety, and security use cases • Establish scalable operations and services division 21 Nasdaq: ONDS Outlook for OAS Revenue ramp continues; on track to achieve 2023 objectives • Grow revenue and orders • Continue to deliver on fleet deployments in UAE; expect to announce additional customer engagements in 2024 • Expect to announce additional milestones relating to U.S. expansion of Optimus • Accelerate U.S. business development • Leverage American Robotics U.S. footprint to penetrate public safety, smart city and O&G and other industrial markets • Expand sales teams and pre - sales activities with larger number of customers and ecosystem partners • Form strategic partnerships to provide full - spectrum drone hardware, services, and data integration • Build inventory • Expect 10 new Optimus Systems to be manufactured and delivered starting Q4 2023 into Q1 2024 22 Nasdaq: ONDS • Ondas is monetizing the significant investments in our FullMAX (TM) and Optimus platforms • Activity with Siemens and Class I Rails highlights improved visibility around customer adoption and deployment timelines • Fleet deployments of Optimus demonstrate long - term leadership in massive markets; U.S. expansion opens huge market • Revenue growth and cost controls drive path to profitability • Continue to advance and define the solutions in the large markets we target Wrapping up a Record Year Leverage winner - take - most platforms

Second Quarter 2023 Earnings Release | November 2023 Nasdaq : ONDS Q&A Copyright 2023. All rights reserved.

24 Nasdaq: ONDS See the “Non - GAAP Financial Measure” section above. Appendix Three Months Ended September 30, EBITDA RECONCILIATION: 2022 2023 (Unaudited) $ (13,578,341) $ (7,292,461) Net loss 153,159 235,999 Depreciation expense 29,597 1,358,440 Amortization of debt discount/interest expense 904,059 1,064,798 Amortization of Intangible Assets 1,483,155 (2,266,875) Stock - based compensation $ (11,008,371) $ (6,900,099) EBITDA Nasdaq: ONDS 25 Copyright 2023.

All rights reserved. NASDAQ: ONDS | November 2023 THANK YOU