Frequency Electronics, Inc. ("FEI" or the "Company") (NASDAQ-FEIM), a leading provider of precision timing and frequency control products for space and terrestrial applications, is pleased to announce the award of new contracts, for a total of approximately $16 million, for oscillators and timing systems, for both non-space and space U.S. Government programs.

Of particular significance is that one contract moves FEI beyond its traditional realms of defense or space, and into the burgeoning area of space defense, which involves countering space-based threats. This award leverages the Company's expertise in terrestrial secured communications in a new domain, space, and opens up significant new opportunities for FEI. Further, the development of the Time and Frequency Processor for this application includes algorithms, software and firmware, along with hardware, expanding the solutions set that FEI can provide.

In addition, the Company is pleased to report that its backlog at April 30, 2026, the end of its fiscal year, exceeded $100 million for the first time. FEI will provide more color and further updates on its fourth quarter earnings call this summer.