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    Elbit Systems Ltd (ESLT)

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    Elbit Systems Ltd. (ESLT) is an international high-technology company specializing in defense, homeland security, and commercial applications. The company develops and supplies a wide range of advanced systems and products for airborne, land, and naval platforms, as well as unmanned systems, cyber solutions, and training services. With a strong focus on innovation, Elbit Systems integrates its technologies into new platforms and modernizes existing systems to meet the needs of its global customers.

    1. Aerospace - Provides products for airborne platforms, including unmanned aerial solutions, precision-guided munitions (PGM) sensors, and training and simulation systems.
    2. Elbit Systems of America (ESA) - Delivers solutions for U.S. military and homeland security, as well as medical instrumentation and commercial aviation.
    3. Land - Focuses on land-based systems such as armored vehicles, artillery, munitions, and protection systems.
    4. ISTAR and Electronic Warfare (EW) - Supplies electro-optic and laser systems, electronic warfare technologies, and signal intelligence (SIGINT) systems.
    5. C4I and Cyber - Offers integrated C4ISR systems, data links, radio communication systems, cyber intelligence, and homeland security solutions.
    NamePositionExternal RolesShort Bio

    Bezhalel Machlis

    Executive

    President and CEO

    None

    Joined ESLT in 1991; became CEO in 2013. Holds degrees in Mechanical Engineering, Computer Science, and an MBA. Graduate of Harvard's Advanced Management Program.

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    Boaz Cohen

    Executive

    EVP – Marketing and Business Development

    None

    Joined ESLT in 2007; previously served as SVP – Land Systems. Holds degrees in Management, Economics, and is a Harvard AMP graduate.

    Dr. Shelly Gordon

    Executive

    EVP – Chief Human Resources Officer

    None

    Joined ESLT in 2015; holds a Ph.D. and has extensive experience in HR leadership.

    Dr. Yaacov Kagan

    Executive

    EVP – Chief Financial Officer

    None

    No detailed bio provided in the documents, but currently serves as CFO.

    Haim Delmar

    Executive

    EVP – General Manager C4I and Cyber

    None

    Joined ESLT in 1993; became EVP in 2018. Holds a B.Sc. in Computer Engineering and is a Harvard AMP graduate.

    Jonathan Ariel

    Executive

    EVP – Chief Legal Officer

    None

    Joined ESLT in 1996; became Chief Legal Officer in 2012. Holds a law degree and has extensive experience in legal and compliance functions.

    Joseph Gaspar

    Executive

    Senior EVP – Business Management

    None

    Joined ESLT in 1975; held various senior roles, including CFO (2001–2008). Holds a B.Sc. in Electronic Engineering with advanced studies in digital signal processing and communication.

    Michael Edelstein

    Executive

    EVP – Strategy and Business Development

    None

    Joined ESLT in 2021; former IDF Major General and Defense Attaché to the U.S. Holds degrees in Law, Business Management, and National Resources Management.

    Oren Sabag

    Executive

    EVP – General Manager ISTAR and EW

    None

    Joined ESLT in 1998; became EVP in 2022. Previously held senior roles in C4I and Cyber.

    Ran Kril

    Executive

    EVP – International Marketing and Business

    None

    Joined ESLT in 1997; became EVP in 2015. Previously held senior roles in marketing, sales, and finance.

    Yehoshua Yehuda

    Executive

    EVP – Strategy and Chief Technology Officer

    None

    Joined ESLT in 2000; became EVP in 2016. Holds degrees in Electrical Engineering and Neural Computation.

    Yehuda Vered

    Executive

    EVP – General Manager Land

    None

    Joined ESLT in 2003; became EVP in 2013. Holds degrees in Management, Economics, and an MBA.

    Yoram Shmuely

    Executive

    EVP – General Manager Aerospace

    None

    Joined ESLT in 1990; became EVP in 2008. Former fighter pilot in the Israeli Air Force.

    Yuval Ramon

    Executive

    EVP – Chief Operating Officer

    None

    Joined ESLT in 1994; became EVP in 2015. Previously held senior roles in operations and contracts.

    Bilha Shapira

    Board

    External Director

    Consultant for TABI Learning Technologies Ltd.; Member of boards of several non-profits in Israel

    Joined ESLT's Board in 2019. Member of the Audit Committee of Azrieli College of Engineering. Holds professional competence under Israeli Companies Law.

    David Federmann

    Board

    Chair of the Board

    Chair of Freiberger Compound Materials GmbH; Board Member of Dan Hotels Ltd. and BGN Technologies

    Joined ESLT's Board in 2007; became Chair in 2023. Holds a bachelor's degree in Mathematics and Philosophy from NYU.

    Dov Ninveh

    Board

    Director

    Board Member at Freiberger Compound Materials GmbH

    Joined ESLT's Board in 2000. Former CFO of Federmann Enterprises Ltd. Holds a B.Sc. in Economics and Management from the Technion.

    Ehud (Udi) Adam

    Board

    Director

    Chair of Armalux Ltd., Ecology for Protected Community Ltd., and a public committee of the Geophysical Institute of Israel

    Joined ESLT's Board in 2023. Former Director General of the Israeli Ministry of Defense and IDF Major General (reserves).

    Noaz Bar Nir

    Board

    External Director

    Director of Yad Ben-Zvi and Radio Ashams FM Ltd.; Business Consultant; Lecturer at Netanya Academic College

    Joined ESLT's Board in 2020. Former Director General of the Israeli Ministry of Tourism.

    Prof. Ehood Nisan

    Board

    Director

    External Director at Harel Insurance Finance Services Ltd. and Rekah Pharmaceutical Industry Ltd.

    Joined ESLT's Board in 2016. Former Director of the Israeli Ministry of Finance's Budget Department. Holds a Ph.D. in Public Economics and Policy from the Hebrew University.

    Rina Baum

    Board

    Director

    VP of Federmann Enterprises Ltd.; Director of Dan Hotels Ltd.; CEO of Uni-bit Insurance Agency

    Joined ESLT's Board in 2001. Holds a law degree from the Hebrew University.

    Tzipi Livni

    Board

    Director

    External Director at Bezeq; Board Member at the Institute for National Security Studies and Seevix Material Sciences Ltd.

    Joined ESLT's Board in 2023. Former Israeli Minister of Foreign Affairs and Justice. Holds a law degree from Bar-Ilan University.

    1. You mentioned a significant increase in inventories to support higher future revenues; however, this consumes cash and carries risk if demand doesn't materialize as expected. How confident are you in your demand projections, and what contingency plans do you have if sales growth slows?

    2. The Aerospace segment saw a 10% year-over-year decrease in revenues due to lower airborne precision-guided munition sales; can you elaborate on the specific factors driving this decline, and what steps are you taking to revive growth in this segment? ,

    3. Given your ambitious target to reach $6.5 to $7 billion in revenues and approximately 10% operating margins in the next few years, can you provide more concrete timelines and key milestones, and what are the main risks that could impede achieving these goals? ,

    4. With significant CapEx investments ongoing, particularly in new facilities and infrastructure, how do you plan to manage your capital expenditure to ensure sufficient returns, and what impact will this have on free cash flow generation in the near term? , , ,

    5. Considering the challenges in supply chain and labor market disruptions you've faced in recent years, and the increasing backlog of orders, how confident are you in your operational capacity to deliver on time, and what measures are you implementing to mitigate potential bottlenecks? ,

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Sparton

    2021

    Elbit Systems of America acquired Sparton for approximately $350 million (net of cash assumed) on April 4, 2021 to strengthen its defense portfolio with Undersea Warfare systems; the deal included detailed fair value allocations for technology, IPR&D, customer relationships, and integrated Sparton’s operations into its financials.

    BAE Systems Rokar International Ltd.

    2021