INTEGRATED MULTI-THREAT HEADBORNE SYSTEM PROTOTYPE TO BE FUNDED AND DEVELOPED FOR U.S. ARMY BY TEAM WENDY CERADYNE AND THEON INTERNATIONAL

Press Release

Under a U.S. Army-funded initiative, Team Wendy Ceradyne and Theon International partner to develop an Integrated Multi-Threat Headborne System (IMHS) prototype set to enhance soldier protection and situational awareness. 

Bloomberg (THEON:NA) / Reuters (THEON.AS)

Salem, New Hampshire - January 12th, 2026. Team Wendy Ceradyne, a leading US-based developer and manufacturer of advanced combat helmets for the Department of Defense, and Theon International Plc (THEON), a global company specializing in electro-optical systems including night vision, thermal imaging, and augmented reality (AR) technologies, have announced a strategic partnership under a US Army Combat Capabilities Development Command (DEVCOM) Soldier Center (SC)-funded initiative. Together, the companies are developing a next generation Integrated Multi-Threat Headborne System (IMHS) designed to enhance Soldier protection, situational awareness, and lethality across multi-domain operations.

“With Army support and strong industry partnerships, we're advancing head protection into a fully integrated helmet system - combining ballistic protection with enhanced situational awareness,” said Erik Cobham, President of Team Wendy Ceradyne. “This shift fundamentally changes how Soldiers perceive, decide, and respond on the battlefield.”

Conducted under a shared-cost model between the US government and industry partners, the program integrates Team Wendy Ceradyne’s proven ballistic protection technologies with Theon’s advanced electronic systems. The result will be a modular head-borne architecture capable of delivering tailored, mission-critical technologies – including seamless communications integration – adaptable to future operational requirements.

“We are honored to partner with the exceptional Team Wendy Ceradyne on this critical US Army initiative,” said Dr. Michalis Kolotos, Director of US Operations for THEON. “This collaboration is a prime opportunity to integrate our advanced THEON NEXT optro-electronic solutions, which are a direct result of our technological know-how and our strategic investments in the US. We are focused on delivering head-borne power and data solutions that could enable next-generation capabilities, such as advanced day-and-night Head-Up Displays (HUDs) and Augmented Reality (AR), all seamlessly connected to the soldier's Power and Battle Management System. This integration is key to enhancing situational awareness and decision-making for the US warfighter”.

The DEVCOM SC-sponsored team also includes Invisio, providing lightweight tactical communications and hearing protection, and Revision, contributing ballistic and laser protective eyewear. The IMHS prototype developed in this project will be evaluated by the DEVCOM Soldier Center in Fourth Quarter, FY26, during a Soldier Touchpoint to assess performance and gather user feedback for future design phases.

For inquiries, please contact:

Investor Relations Nikos Malesiotis E-Mail: ir@theon.com Tel: +30 210 6772290

Media Contact Elli Michou E-Mail: press@theon.com Tel: +30 210 6728610

About THEON GROUP

THEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 240,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024. www.theon.com

About Team Wendy Ceradyne

Team Wendy Ceradyne designs and manufactures advanced ballistic helmets for the US Department of Defense. Its parent company, Team Wendy, is dedicated to providing exceptional head protection systems designed from the inside out for those who risk their lives every day. Founded in 1997, Team Wendy is focused on the prevention of traumatic brain injury (TBI) in honor of the company’s namesake Wendy Moore, who died tragically from a TBI following a ski accident.

As a leading supplier of helmet systems for military, law enforcement, search and rescue, and adventure sports, Team Wendy is steadfast in our dedication to the pursuit of improving head protection research, design and development, bringing more choice, better technology and reliable customer service to the industry.

Team Wendy is a part of Avon Technologies plc, a world leader in mission-critical protective equipment. www.teamwendy.com

Attachment

• Press Release MULTI-THREAT HEADBORNE SYSTEM by Team Wendy & THEON International