Elbit Systems POLITICAL

Corporate Communications & Public Stance

• Elbit’s FY2024 and FY2025 disclosures describe increased demand from Israel’s Ministry of Defense (IMOD) after 7 October 2023, operational, supply-chain, reservist-call-up, boycott, and security effects on the business, and demand for its products and solutions; the reviewed disclosures do not address Palestinian civilian harm.^{1, 2}

• On 2 November 2023, CEO Bezhalel Machlis said Elbit’s command-and-control, electronic-warfare, UAV, artillery, mortar, armored-vehicle, night-vision, and training/simulation systems were being used extensively by the IDF; he also described accelerated production, field deliveries, additional shifts, temporary recruitment, and employees supporting the IDF.³

• Machlis said approximately 15% of Elbit’s 14,000-person Israeli workforce had been called up as IDF reservists, expressed hope for the safe return of hostages and soldiers, and offered condolences to affected Elbit families; the statement did not address Palestinian civilian harm.³

• On 7 January 2025, Machlis described Elbit as an IDF and IMOD partner, supported the “Blue and White” production policy, and said the company would contribute to IDF munitions independence.⁴

• On 23 April 2026, Machlis said Elbit’s air-launched-weapons orders reflected its continuing IMOD partnership and enabled Israeli Air Force air superiority.⁵

• No public evidence identified. The bounded review found no company call for a ceasefire, peace process, or protection of Palestinian civilians in the annual-report and company-news materials examined; comparative review of communications on Ukraine, racial justice, and COVID-19 was not comprehensive.^{1, 2, 6}

• Elbit’s FY2025 filing characterizes organized boycott and divestment activity, including facility disruptions, as business risks that may continue or increase.¹

Operations in Occupied or Contested Territories

• Elbit’s FY2025 filing states that it derives most revenue directly or indirectly from governmental agencies, principally IMOD, the U.S. Department of War, and other military or government authorities.¹

• At 31 December 2025, Elbit reported approximately $1.03 billion in IMOD trade receivables and contract assets.¹

• Elbit’s March 2006 SEC-filed release states that subsidiary Ortek was selected by IMOD for a “smart” electronic-deterrence system initially valued at NIS 20 million, with a potential total value of NIS 80 million, involving sensors, electronic fencing, communications, command-and-control posts, the Security Fence Administration, and major sections of Israel’s border-security fence, including Jerusalem’s detour route.⁷

• The Norwegian Council on Ethics’ 15 May 2009 recommendation stated that Elbit supplied a surveillance system forming part of the separation barrier being built in the West Bank and recommended exclusion from Norway’s Government Pension Fund–Global; this is an official investment-ethics recommendation, not a judicial determination.⁸

• The 2006 Elbit disclosure does not identify the contract’s exact route or say it was in the West Bank, and the retrieved sources do not establish whether the relationship continued after 2009.^{7, 8}

• The UN Special Rapporteur’s July 2025 report identifies Elbit as an Israeli arms company and attributes close cooperation with Israeli military structures since 2023, including an assertion that personnel were embedded in IMOD; these are report attributions rather than court or regulatory findings.⁹

• AFSC describes a historical allegation concerning Ortek’s 2006 barrier-related contract, while Who Profits reports a February 2020 Incubit Technology Ventures agreement with Ariel University for joint deep-technology ventures; apart from the 2006 Elbit filing, the underlying contract or agreement was not retrieved, so the latter remains a civil-society research lead rather than independently confirmed primary evidence.^{10, 11, 7}

• Elbit was not named in the full-text-checked 2023 OHCHR settlement-business database or its 2025 update; this document-scoped result does not establish absence from all settlement-related activity.¹²

• Elbit was also not mentioned in the specific Amnesty International 2022 and Human Rights Watch 2021 reports reviewed, neither of which functions as a comprehensive company database.^{13, 14}

• No recent primary-source evidence was retrieved establishing a current Elbit facility, distributor, or service contract inside an Israeli settlement, East Jerusalem, the West Bank, Gaza, or the Golan Heights; the historic barrier evidence is distinct.^{1, 11, 12, 7, 8}

• On 3 December 2024, IMOD announced contracts totaling approximately $40 million for Elbit drones and autonomous systems, including systems intended for intelligence collection, targeted strikes, urban missions, and unmanned-system communications.¹⁵

• On 7 January 2025, IMOD announced agreements totaling approximately NIS 1 billion for thousands of heavy aerial munitions and a domestic energetic-materials plant for Israel’s defense industry.⁴

• On 19 May 2025, IMOD announced an approximately $55 million, five-year agreement for Elbit protection systems for Israeli Air Force Black Hawk and Apache combat helicopters.¹⁶

• On 8 November 2025, IMOD announced an approximately $260 million procurement of Israeli-produced aerial munitions for the IDF and stated that Elbit’s domestic facilities had operated at surge capacity since the start of the Swords of Iron war.¹⁷

• On 23 April 2026, IMOD announced multi-year Elbit aerial-munitions orders exceeding $200 million, manufactured at Elbit facilities in Israel.⁵

• The reviewed material does not establish that the post-2024 IMOD contracts were used in a specified location or operation.^{15, 4, 16, 17, 5}

Internal Governance, Content & Retail Policies

• No public evidence identified in the targeted live search or in the reviewed SEC, proxy, UN, and Who Profits materials of Elbit disciplining employees, contractors, or union members for pro-Palestinian expression or Palestinian-rights advocacy.^{1, 9, 18, 11}

• This conclusion is source-limited: dedicated employment-tribunal, labour-regulator, court-docket, and union-record searches were not completed sufficiently to support a company-wide absence finding.^{1, 18}

• The Brussels Times reported that Elbit subsidiary OIP Sensor Systems sought €65,000 in a Belgian civil case against seven external activists regarding a March 2024 factory blockade; the report does not concern employees, union members, contractor speech, or Palestinian-rights workplace advocacy, and no initiating pleading, docket, or outcome was retrieved.¹⁹

• Content moderation, retail labelling, cartographic policy, and settlement-product categorization appear inapplicable to Elbit’s defense-manufacturing business on the available evidence, absent more specific evidence of such mechanisms.^{1, 2}

Brand Heritage & State Partnerships

• Elbit presents itself as an international high-technology business engaged mainly in defense, homeland security, and commercial aviation, including airborne, land, naval, training, and support systems.¹

• Elbit reports that its subsidiaries support local defense forces in their respective home markets.¹

• On 3 November 2024, IMOD stated that Elbit participated with IMOD, the Israeli Air Force, Rafael, and IAI/ELTA in developing David’s Sling, which IMOD said intercepted dozens of rockets during the Swords of Iron war.²⁰

• The same IMOD announcement identifies Elbit as a participant in an intelligence project developed with IMOD’s research-and-development directorate, the IDF Intelligence Directorate, the Air Force, and the Israeli Security Agency.²⁰

• Elbit received the 2024 Israel Defense Prize through projects recognized by Israeli state institutions, with the cited ceremony held at the President’s Residence and attended by senior Ministry, IDF, Mossad, and Israeli Security Agency officials.²⁰

• On 4 March 2025, IMOD announced a NIS 2 billion-plus agreement with Rafael and Elbit to expand serial production of Iron Beam, a ground-based high-power laser air-defence system.²¹

• On 21 February 2025, IMOD’s International Defense Cooperation Directorate organized Israel’s national pavilion at IDEX in Abu Dhabi; IMOD stated that Machlis, Israel’s UAE ambassador, and the head of Israel’s Defense Export Control Agency attended its inauguration.²²

• On 6 April 2026, the Israeli and Greek defence ministries signed a government-to-government agreement under which Elbit would serve as prime contractor for a roughly $750 million PULS rocket-artillery package for Greece, with four years of implementation and ten years of sustainment and support.²³

• IMOD’s 2026 Israel Defense Prize announcement lists Elbit subsidiary Elisra among recipients for a project developed with IMOD, Mossad, the Israeli Air Force, Rafael, and IDF Unit 8200; IMOD stated that the projects significantly affected combat operations.²⁴

• The UN Special Rapporteur reports that Elbit originated as a public-private partnership before privatization, but this historical characterization was not independently corroborated in the retrieved corporate records.⁹

• Elbit’s corporate business-overview page states that IMOD’s 2024 “Blue and White” local-production strategy had been reflected in additional awards to the company.²⁵

• No state shareholding, state-held golden share, or formal state parent entity was identified in the reviewed FY2025 SEC filing, 2026 proxy, and corporate-governance materials; this is limited to those records and is not a definitive review of Israeli registry or charter records.^{1, 26, 27}

Lobbying, Advocacy, Financing & Logistics

• On 31 July 2024, IMOD announced an approximately $340 million ammunition-systems agreement with Elbit.²⁸

• On 16 December 2024, IMOD announced cumulative agreements totaling approximately $130 million for advanced communications systems for the IDF, stating that IMOD, Elbit, and the IDF had developed encrypted communications solutions during the preceding year.²⁹

• The IMOD agreements described in this audit are government procurement contracts, not donations or charitable political contributions.^{15, 4, 28, 16, 17, 5}

• Elbit’s 2023 ESG report states that, from 8 October 2023, collection facilities assembled equipment for hospitals and IDF soldiers; it does not specify the goods, value, recipient units, whether Elbit funded the goods, or duration of the activity.³⁰

• A 2023 Elbit article describes employee participation in Makers for Heroes, a Restart Foundation project supporting former IDF personnel with disabilities; it does not establish an Elbit monetary transfer or continuation after publication.⁶

• No verified transfer by Elbit or an attributable controlling principal to FIDF, JNF/KKL, a settlement organization, Regavim, Im Tirtzu, Lev Echad, or another specifically identified military-welfare organization was retrieved within the documented research scope.^{1, 30, 6}

• The FEC records an active qualified corporate PAC, Elbit Systems of America LLC Political Action Committee (Elbit America PAC), committee C00437566, registered on 10 August 2007 as a monthly corporate PAC and Lobbyist/Registrant PAC.³¹

• For 1 January 2025 through 31 August 2026, the FEC committee overview reported $162,480.28 in total receipts, $156,980.28 in contributions, $95,000 in contributions to other committees, and zero independent expenditures for the displayed period; these figures may update as filings are processed.³¹

• An official LDA filing signed 21 July 2025 identifies Elbit Systems of America LLC as registrant and Elbit Systems Ltd. of Haifa as parent, and reports lobbying on FY2026 defence authorization and appropriations, procurement, night-vision, radar sustainment, helmet-display systems, ground-combat vehicles, munitions, defense-supply-chain resilience, and border-security technology before the House and Senate.³²

• The retrieved PAC and LDA records establish U.S. electoral and procurement-policy activity by Elbit’s U.S. subsidiary, but do not themselves establish lobbying on Israel-Palestine policy, settlements, boycotts, or regional trade legislation.^{31, 32}

• Michael Federmann is associated with the Jerusalem Foundation’s Museum on the Seam project; the page gives no amount, date, purpose beyond project association, or connection to Israel-Palestine advocacy, settlement activity, or military welfare.³³

• Bezalel Academy lists “Liora and Mickey Federmann, Israel” among major donors, but provides no dates, amounts, restrictions, or evidence linking the listing to Michael Federmann, Elbit, political advocacy, settlements, or military welfare.³⁴

• The Jerusalem Music Centre lists Federmann Enterprises Ltd. among donors and Michael Federmann among donors to its “Ametz Nagan” scholarship programme, without stating amount, date, grant terms, or political, settlement, or military purpose.³⁵

• No verified public statement, op-ed, FIDF/JNF/KKL or settlement donation, anti-BDS leadership role, or Israel/Palestine-specific investment by Michael Federmann, David Federmann, or CEO Bezhalel Machlis was retrieved in the bounded search; this does not constitute a complete review of every director, executive, family-office vehicle, charity, political-finance record, or investment record.^{1, 26, 33, 34, 35}

• No principal-controlled U.S. charitable foundation was located in the completed searches, so no IRS Form 990 or 990-PF grant schedule could be verified for a Federmann, Machlis, or other principal-controlled foundation.^{33, 34, 35}

Corporate Structure & Primary Mission

• Elbit Systems Ltd. is incorporated in Israel, maintains principal executive offices in Haifa, and trades ordinary shares on the Nasdaq Global Select Market and Tel Aviv Stock Exchange.¹

• Elbit’s predecessor, Elbit Ltd., was incorporated in Israel in 1966 as Elbit Computers Ltd., and Elbit Systems was formed in 1996 through a demerger of the predecessor’s defense-related assets and business.¹

• Federmann Enterprises Ltd. is the disclosed controlling shareholder, rather than a formally identified legal parent; the FY2025 filing characterizes its ownership as approximately 41.6%.¹

• As of 17 June 2026, the 2026 proxy reports that Federmann Enterprises beneficially owned 19,318,508 ordinary shares, or 41.2% of 46,848,460 shares outstanding, including 3,836,458 shares held by Heris Aktiengesellschaft.²⁶

• The disclosed control chain is Heris / Federmann Enterprises / Beit Federmann / Beit Bella and Beit Yekutiel; Michael Federmann controls Beit Bella and Beit Yekutiel and the vote of Federmann Enterprises and Heris shares.²⁶

• The 2026 proxy reports indirect economic interests equivalent to approximately 25.5% of outstanding Elbit shares collectively for Michael Federmann and his sons David, Gideon, and Daniel - 5.1%, 8.16%, and 6.12% each for Gideon and Daniel - while distinguishing those interests from voting control.²⁶

• Michael Federmann’s March 2026 Form 3 identifies him as a director and 10% owner, describes the control chain, disclaims beneficial ownership except to the extent of pecuniary interest, and discloses his trusteeship for a sister’s indirect non-voting economic interest through Federmann Enterprises.³⁶

• Elbit’s major wholly owned subsidiaries include Elbit Systems of America, Elbit Systems Electro-Optics Elop, Elbit Systems C4I and Cyber, Elbit Systems EW and SIGINT–Elisra, Elbit Systems Land, and IMI Systems; this named list is not exhaustive because the relevant complete subsidiary exhibit was not independently reviewed.¹

• Elbit reports smaller wholly and partly owned subsidiaries or investments in Israel, Germany, the United Kingdom, Sweden, Switzerland, Brazil, Romania, Hungary, India, Australia, and the United Arab Emirates, principally undertaking local marketing, engineering, manufacturing, and logistics-support activity.¹

• Elbit reports that, on 31 December 2025, it acquired the remaining 49% interest in an unnamed UK subsidiary; it also records Elbit Systems UK’s February 2024 sale of Elite KL Ltd., C4I and Cyber’s December 2025 sale of its Robo-Team Holdings interest, and Elbit Systems of America’s April 2023 acquisition of Pacific Electronics Enterprises Inc.¹

• Elbit Systems of America is a Delaware limited-liability company operating under a U.S. Department of War Special Security Agreement because of its non-U.S. control; the agreement governs classified-program security and export-control safeguards.¹

• Elbit’s reviewed filings establish a commercially organized defense, homeland-security, and commercial-aviation business with substantial government sales, but do not establish a charter provision assigning the company a formal state-geopolitical mission.^{1, 2}

Executive & Leadership Footprint

• Elbit’s board as of 5 March 2026 comprised David Federmann as chair, Ehud Adam, Noaz Bar Nir, Rina Baum, Michael Federmann, Tzipi Livni, Dov Ninveh, Ehood Nisan, and Bilha Shapira.¹

• The 2026 AGM proxy nominated David Federmann, Ehud Adam, Jacob Bar-Nathan Abudi, Rina Baum, Michael Federmann, Tzipi Livni, and Dov Ninveh as non-external directors and proposed Noaz Bar Nir’s re-election as an external director; Elbit announced on 5 August 2026 that the proxy resolutions were approved, although the retrieved materials do not provide a complete post-meeting board biography set.^{26, 37}

• Bezhalel Machlis is Elbit’s president and CEO; the FY2025 Form 20-F was signed by him in that capacity on 17 March 2026.¹

• The organization chart identifies Luke Savoie as president and CEO of Elbit Systems of America, Yaacov Kagan as EVP/CFO, and Yuval Ramon as EVP/COO.^{1, 25}

• David Federmann has served as board chair since August 2023 and has held management positions at Federmann Enterprises since 2000.¹

• Michael Federmann formerly chaired Elbit’s board from 2000 to 2023, is chair and CEO of Federmann Enterprises, and is identified as Elbit’s controlling shareholder.^{1, 26}

• Director Ehud Adam served as IMOD director general from 2016 to May 2020 after 31 years in the IDF, retiring as a major general in the reserves.¹

• The FY2025 filing discloses that Machlis was an IDF artillery officer and colonel in the reserves, and that several senior executives have prior IDF or IMOD service.¹

• Director Tzipi Livni held Israeli ministerial and Security Cabinet positions between 1999 and 2019 and has served as a director of the Institute for National Security Studies since June 2021.¹

• The reviewed filings do not identify individual founders of Elbit Computers or Elbit Ltd. beyond the 1966 predecessor and 1996 demerger history.¹