PRZO ParaZero Technologies Ltd

ParaZero Technologies Ltd. (Nasdaq: PRZO) (“ParaZero”), an aerospace company focused on drone safety systems for commercial drones and urban air mobility aircraft, announced that an Australian commercial drone operator and training organization, OVRL, secured landmark authorization from the Civil Aviation Safety Authority (CASA), using ParaZero’s advanced safety system. As previously reported in October 2023, this was the first time in Australia that drones were approved to fly over urban landscapes and crowds.

This groundbreaking approval showcases ParaZero's commitment to safety and innovation, allowing OVRL to spearhead the future of commercial drone operations in Australia. It's not just a win for OVRL, but a leap forward for Australian organizations aiming to revolutionize their operations with drone technology.

ParaZero is thrilled to be at the forefront of this aviation evolution, enabling safer and more dynamic drone applications across the Australian skies. This announcement follows the significant news of the U.S. Federal Aviation Administration (FAA) granting an airworthiness Type Certification for the Airobotics Optimus-1EX system, signaling a bright future for broad drone operations.

“ParaZero's SafeAir product line is receiving global attention,” said Aaron Gliner, ParaZero's Director of Business Development and Regulation. “We acknowledge the collaborative effort that led to this success, and we're honored to see our technology become a catalyst for advanced drone operations in Australia," continued Gliner.

About ParaZero Technologies

ParaZero ( https://parazero.com/ ) is a world-leading developer of autonomous parachute safety systems for commercial drone and urban air mobility (UAM) aircraft. Started in 2014 by a passionate group of aviation professionals and drone industry veterans, ParaZero designs smart, autonomous parachute safety systems designed to enable safe flight operations overpopulated areas and beyond-visual-line-of-sight (BVLOS).

About OVRL

OVRL (https://ovrl.com.au/) is an industry-leading commercial drone services, aviation consulting, and training services provider. Established in 2014, OVRL has brought together leading industry professionals to provide drone industry leading cinematography, professional services and training within a single organization. With our wealth of diverse expertise in the world of drone technology and our passionate belief that drones can change the world for the better, OVRL has established itself as a trailblazer in the industry.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements when it discusses the future of commercial drone operations in Australia. Forward-looking statements are not historcal facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s final prospectus (Registration No. 333-265178) dated July 26, 2023. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. ParaZero is not responsible for the contents of third-party websites.

Investor Relations Contact:

Michal Efraty Investor Relations, Israel +972-(0)52-3044404 michal@efraty.com

ParaZero Technologies Ltd. | 30 Dov Hoz, Kiryat Ono, Israel 5555626 P: +972-36885252 | E: contact@parazero.com | F: +972-3-688-5246