QUARTERLY ACTIVITES UPDATE AND APPENDIX 4C Period Ending 30 September 2025 Orbital Corporation Ltd (‘Orbital UAV’, ‘the Company’) presents its quarterly activities report for the period ended 30 September 2025. ABOUT ORBITAL UAV: The Company continues to position itself as a leader in Integrated Propulsion Systems (IPS) for the unmanned aerial vehicle (UAV) market. With a clear focus on the design, manufacture, and support of high-performance, reliable, partnership and mission-ready engine systems, the company’s strategy is centred on expanding its customer base, leveraging its proprietary technology, and maintaining strong alignment with both the evolving global defence industry and the emerging commercial market. The Company’s Heavy Fuel Engines (HFE) are designed for Group 2 & 3 Tactical UAV’s, which are characterised by maximum take-off weights (MTOW) in the range of 20kg to 250kg and are typically employed in surveillance and logistics operations. Quarterly Cash Flow Report • Receipts from customers for the 3 months to 30 September were $4.2 million (Q1 2024: $2.6 million) • Net cash generated from operations of $0.7 million (Q1 2024: $1.8 million outflow) • R&D expenditure of $0.7 million (Q1 2024: $0.4 million) • Capital raising of $3.0 million (before costs) was completed • Closing cash balance of $3.7 million The Company has undrawn loan facility of $2.0 million and anticipates 2025 R&D Grant proceeds of $3.2 million in the December 2025 quarter. New engine Development Program for increased payload requirements Global demand for larger capacity engines continues to rise, driven by increased payload requirements, more complex mission profiles, in-flight battery charging capability, and regulatory changes - particularly those relating to long-range commercial flights with Beyond Visual Line of Sight (BVLOS) mission profiles. In the tactical UAV market between 20 kg and 250 kg weight category we are seeing strong growth driven by increased conflict on multiple fronts and the global increase in government-sponsored sovereign UAV capability which Orbital is well positioned to capture. During the period the Company achieved a significant milestone with the completion of prototypes for the new 350cc HFE engine which has been developed to address this emerging market opportunity. Following a substantial development and testing program over the past 12 months, the engine has exceeded performance expectations (power output and fuel efficiency) with an initial delivery of 2 engines in August 2025 to enable the commencement of UAV platform flight trials as a key enabler to a potential future partnership program on this platform. The Company has received strong interest for the 350cc HFE from both existing and new customers and will commence the manufacture of 10 engines during the next quarter to support the anticipated initial customer demand for integration and evaluation systems for both the defence and commercial segments. Strategic Re-cap The Orbital Partnership Program is based on relationships with Tier 1 defence OEM’s to deliver customised Integrated Propulsion Systems (IPS) fully integrated into their platforms. The new Orbital Mission Ready Engine program is seeking to expand sales of standardised IPS configurations to Tier 2 military and Tier 1 commercial UAV manufacturers at a lower price point via direct, distributor and online channels. With the addition of the new 350cc HFE engine, the Company is now positioned with a comprehensive range of 4 heavy fuel engines (50HFE, 75HFE, 150HFE, 350HFE) to support the full range of Group 2 & Group 3 UAV payloads up to 250kg take-off weight. Heavy fuel systems remain the priority for global defence industry and with the easing of BVLOS regulations in both the U.S. and Australia, heavy fuel will become a point of difference to enable commercial UAV flight operations to be conducted in a flexible and safe manner. US Market Update & FTUAS Replacement Program The Department of War is overhauling its procurement process to enable shorter acquisition cycles, supporting rapid technological advancements and increased lethality across a range of products, including tactical UAV’s. This transition has resulted in some programs being paused until the new process is in place. The FTUAS framework has been superseded by a new U.S. Army Transformation Initiative (ATI Program) which targets a comprehensive modernisation and restructuring effort to reshape the Army for future warfare. The ATI Program includes a major objective to field modernised Unmanned Aerial Systems (UAS) across every Army division by the end of 2026. For Group 2 & 3 UAV’s, the focus is on modular payloads that are adaptable for ISR (Intelligence, Surveillance, and Reconnaissance), electronic warfare, loitering, munitions and logistics operations. The Textron Aerosonde HQ 4.8 which has been developed with Orbital as the sole engine supplier remains positioned to participate in this UAV fleet modernisation. Other Activity The following outcomes have also been achieved during the period: - The appointment of Mr Stephen Pearce (CEO) and Mr Steve Osborne (Head of Business Development U.S. & Europe) bringing over 60 years of global aerospace and aviation experience into the business - The on-going delivery of 150HFE engines to DSO - The sale of a 50cc engine to Callen-Lenz (a subsidiary of BAE Systems) for initial performance testing and evaluation - The signing of an MOU with Praetorian Aeronautics (an Australian based UAV manufacturer) for an on-site demonstration of the new 350cc engine for potential application for the Praetorian Venator UAV currently being developed - The signing of an MOU with Carbonix (an Australian based UAV manufacturer) for a development program with the objective to integrate the Company’s 150cc HFE on to the existing Carbonix Ottano X UAV platform. - The commencement of an engineering development program for a power upgrade to support the Textron Aerosonde 4.7 UAV platform that utilises an Orbital designed 75cc HFE - On-going flight trials in India with the 150cc HFE engine and the Dynamatics Cheel UAV platform with an order for a further engine package now received Customer engagements during the period including the MOU with Carbonix validate the Company’s new “Mission Ready Engine” strategy of offering the existing range of Orbital core engines with non-military specifications. This announcement has been authorised by the Board of Orbital Corporation Limited. -ENDS- CONTACTS Stephen Pearce Mark Wege Chief Executive Officer CFO & Company Secretary Tel: +61 8 9441 2233 Tel: +61 8 9441 2315 Email: spearce@orbitalcorp.com.au Email: mwege@orbitalcorp.com.au About Orbital UAV: Orbital UAV provides integrated propulsion systems and flight critical components for tactical unmanned aerial vehicles (UAVs). Our design thinking and patented technology enable us to meet the long endurance and high reliability requirements of the UAV market. We have offices in Australia and the United States to serve our prestigious client base. Forward-looking statements: This release includes forward-looking statements that involve risks and uncertainties. These forward-looking statements are based upon management's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company that could cause actual results to differ materially from such statements. Actual results and events may differ significantly from those projected in the forward-looking statements as a result of a number of factors including, but not limited to, those detailed from time to time in the Company’s Annual Reports. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this release to reflect events or circumstances after the date of this release. Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 1 + See chapter 19 of the ASX Listing Rules for defined terms. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B Name of entity ORBITAL CORPORATION LIMITED ABN Quarter ended (“current quarter”) 32 009 344 058 September 2025 Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 1. Cash flows from operating activities 4,234 4,234 1.1 Receipts from customers 1.2 Payments for 0 0 (a) research and development (b) product manufacturing and operating costs (300) (300) (c) advertising and marketing (31) (31) (d) leased assets (e) staff costs (2,492) (2,492) (f) administration and corporate costs (759) (759) 1.3 Dividends received (see note 3) 1.4 Interest received 11 11 1.5 Interest and other costs of finance paid (18) (18) 1.6 Income taxes paid 1.7 Government grants and tax incentives 0 0 1.8 Other (provide details if material) Cost recharge 59 59 1.9 Net cash from / (used in) operating activities 704 704 2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) businesses (c) property, plant and equipment (7) (7) (d) investments (e) intellectual property (706) (706) Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 2 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 (f) other non-current assets 2.2 Proceeds from disposal of: (a) entities (b) businesses (c) property, plant and equipment (d) investments (e) intellectual property (f) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities (713) (713) 3. Cash flows from financing activities 3,000 3,000 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities (242) (242) 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) (a) principal elements of lease payments (276) (276) (b) principal elements of sublease payments 146 146 3.10 Net cash from / (used in) financing activities 2,628 2,628 Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 3 + See chapter 19 of the ASX Listing Rules for defined terms. Consolidated statement of cash flows Current quarter $A’000 Year to date (3 months) $A’000 4. Net increase / (decrease) in cash and cash equivalents for the period 1,080 1,080 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 704 704 4.3 Net cash from / (used in) investing activities (item 2.6 above) (713) (713) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 2,628 2,628 4.5 Effect of movement in exchange rates on cash held (14) (14) 4.6 Cash and cash equivalents at end of period 3,685 3,685 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 3,685 1,080 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 3,685 1,080 6. Payments to related parties of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to related parties and their associates included in item 1 (30) 6.2 Aggregate amount of payments to related parties and their associates included in item 2 0 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 4 + See chapter 19 of the ASX Listing Rules for defined terms. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities 2,000 0 7.2 Credit standby arrangements 7.3 Other (please specify) 7.4 Total financing facilities 2,000 0 7.5 Unused financing facilities available at quarter end 2,000 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. Unsecured working capital loan facility provided by shareholders, with interest accruing at a rate equal to the aggregate of 3-month bank bill rate plus a 2% margin. The lenders are UIL Limited and Boneyard Investments Pty Ltd. 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 704 8.2 Cash and cash equivalents at quarter end (item 4.6) 3,685 8.3 Unused finance facilities available at quarter end (item 7.5) 2,000 8.4 Total available funding (item 8.2 + item 8.3) 5,685 8.5 Estimated quarters of funding available (item 8.4 divided by item 8.1) N/A Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. 8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions: 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: n/a 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: n/a 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: n/a Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. Appendix 4C Quarterly cash flow report for entities subject to Listing Rule 4.7B ASX Listing Rules Appendix 4C (17/07/20) Page 5 + See chapter 19 of the ASX Listing Rules for defined terms. Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 28 October 2025 Authorised by: BOARD OF DIRECTORS (Name of body or officer authorising release – see note 4) Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.