Tranche Update on Butler National Corporation's Equity Buyback Plan announced on December 20, 2016.

Butler National Corporation designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies and systems (Aerospace Products). The Company's segments include Aerospace Products and Professional Services. The Aerospace Products segment includes manufactures, sales and services of structural modifications, electronic equipment, and systems and technologies enhancing aircraft. Additionally, it operates Federal Aviation Administration (the FAA) Repair Stations. The Professional Services segment includes the management of a gaming and related dining and entertainment facility in Dodge City, Kansas. Boot Hill Casino and Resort features approximately 500 slot machines, 16 table games and a sportsbook. It serves a variety of the aviation industry, including owners and operators of private, commercial, regional, business and government aircraft.