VisionWave, Sadot terminate CM joint venture after CM fails to deliver audited financials

VisionWave Holdings, Inc.

Letter Agreement dated Oct 12, 2026 terminates the Sept 30, 2026 JV with Sadot Group; no break fee or early termination penalty is payable.
CM told the parties on ~Oct 8, 2026 it cannot produce IFRS/GAAP financials or hire a PCAOB auditor, so Sadot's $7,814,323 capital commitment was never funded ($0 funded).
Sadot's 7,814,323 CMJV units were cancelled for no consideration; Sadot withdrew and VisionWave became sole member of CMJV.
VisionWave keeps the 250,000 Sadot Entry Premium Shares and will issue Sadot 500,000 VWAV shares in a private placement within 3 business days.
CMJV managers Michael D. Murray and Haggai (Chagay) Ravid resigned; VisionWave indemnifies Sadot over CM Rights and the CM loan documents.

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