Satellogic Inc. · NASDAQ:SATL
Satellogic — Investor Presentation (March 2022)
42 slides from Satellogic's investor presentation, Mar 14, 2022
Slide 1: Investor Presentation March 2022
x Sy INVESTOR PRESENTATION MARCH 2022 SATELLOGIC:
Slide 2: Legal Disclaimer
i LEGAL DISCLAIMER Disclaimers and Other Important Information This presentation (this “Presentation” was prepared solely by, and is being provided by, Satellogic Inc. Satellogic’or the “Company" for informational purposes only. By reviewing or reading ths Presentation, you will be deemed to have ag
Slide 3: Legal Disclaimer (Cont'd)
i LEGAL DISCLAIMER (CONT'D) Use of Projections This Presentation contains projected financial information with respect to Satellogic. Such projected financial information constitutes forwarooking information ands for ilustrative purposes only and should not be relied upon as necessarily being indica
Slide 4: In an increasingly complex and volatile world
In an increasingly complex and volatile world, being prepared for the challenges of tomorrow requires anew way to look
Slide 5: Satellogic's mission is to be the information platform solving Earth's greatest challenges
SATELLOGIC’S MISSION IS TO BE THE INFORMATION PLATFORM SOLVING EARTH’S GREATEST CHALLENGE wy FOOD SUPPLY Crop detection, maturity and health, yield prediction, supply chain management Global & f (0) ENERGY SUPPLY WATER SUPPLY CLIMATE CHANGE Infrastructure and Watershed monitoring, Planetary health p
Slide 6: The current category is broken
THE CURRENT CATEGORY IS BROKEN Terrestrial methods of obtaining Earth Observation Earth Observation satellite data has had limited imagery have a number of critical shortcomings commercial applicability to date PS ret DEFENSE & INTELLIGENCE OTHER SMALL SATELLITES — — » = re co fF 2 @® 8 # ww B ® LON
Slide 7: Satellogic is focused on solving the high cost and technological constraints of Earth observation
SATELLOGIC IS FOCUSED ON SOLVING THE HIGH COST AND TECHNOLOGICAL CONSTRAINTS OF EARTH OBSERVATION @ Resolution » Sub-Meter @ Frequency @ Daily @ Pricing =m Dynamic
Slide 8: Founded in 2010, commercial in 2017, first customer in 2018
§ FOUNDED IN 2010, COMMERCIAL IN 2017, FIRST CUSTOMER IN 2018 Signed Approvedtolaunch | Announced _ Introduced Completed first with Arianespace merger with Aleph business commercial (july 2019) and CF Acquisition Platform combination contract ‘SpaceX (Dec 2019) Corp. V with CFAC V and started Satell
Slide 9: Satellogic is creating a searchable Earth
SATELLOGIC IS CREATING A SEARCHABLE EARTH! GLOBAL DAILY UPDATED CATALOG REMAPPING OF OF EVERYTHING EVERY SQFT | ON EARTH With the ability to provide additional layers of insight... Object Identification Scene Classification Predictive Models Change Tracking Driving better decision-making across indu
Slide 10: Providing industry-leading, high-quality products at unmatched pricing
PROVIDING INDUSTRY-LEADING, HIGH-QUALITY PRODUCTS AT UNMATCHED PRICING MULTISPECTRAL IMAGERY HYPERSPECTRAL IMAGERY FULL-MOTION VIDEO
Slide 11: Scaling our constellation
H SCALING OUR CONSTELLATION 2022 17 COMMERCIAL SATELLITES Proven Technology in Orbit: <1-meter resolution Multispectral 25-meter resolution Hyperspectral Full Motion Video 200+ SATELLITES IN ORBIT Daily Remaps of the Planet Fully-Automated Platform Improved Capabilities nT
Slide 12: Patented optical technology gives Satellogic 10x advantage in capture capacity
PATENTED OPTICAL TECHNOLOGY GIVES SATELLOGIC 10x ADVANTAGE IN CAPTURE CAPACITY Satellogic is the only company able to deliver: Multispectral Imaging Sub-meter Resolution = Hyperspectral Imaging Multispectral Camera 4 Dusting for fingerprints eam Resolution Dy vivperscectal camera from outer space Ho
Slide 13: Satellogic's vertical integration / R&D
SATELLOGIC’S VERTICAL INTEGRATION / R&D Vertical integration enables Satellogic to have shorter R&D cycles, go to market quicker and reduce satellite costs by up to 80% vs. competitors! VERTICAL INTEGRATION COST REDUCTION $450k bill of materials vs. $10mm Design, manufacturing and / or for competito
Slide 14: Satellogic's acquisition cost per km² is lower than competitors
SATELLOGIC’S ACQUISITION COST PER KM? IS LOWER THAN COMPETITORS Acquisition cost per KM? (in USD)’ 807 $52.41 j Our unmatched unit economics | allow Satellogic to deliver the right product at the right price for the right customer. $0.46 MAXAR @amreus. a I Worldview-4 Pleiades GEN2 ————_Skysat 120x0
Slide 15: Our patented approach is the most capable and affordable option
OUR PATENTED APPROACH IS THE MOST CAPABLE AND AFFORDABLE OPTION (eg Worldview) CONSTEI ‘TION CAPEX (REQUIRED $184bn FOR DAILY WORLD REMAPS} PROS mass MAXAR y Large Aperture 5 More photons Short exposure time Big size and G isi Spotlight Maneuver (eg.cena) $10? 29,040¢ $38.81 $51bn Medium/small apert
Slide 16: Satellogic is building a superior capability over Earth observation competitors
SATELLOGIC IS BUILDING A SUPERIOR CAPABILITY OVER EARTH OBSERVATION COMPETITORS MAXAR BLACK'SkY (phnet, SATELLOGIC RESOLUTION = SUB-METER Qo 0) ry 0) FREQUENCY = DAILY REMAP ri) @ ri) @ PRICING = DYNAMIC [x] [x] [x] {v) At scale, our competitive advantage will allow us to be the first company to del
Slide 17: Satellogic has a superior sub-meter resolution product to new space competitors
SATELLOGIC HAS A SUPERIOR SUB-METER RESOLUTION PRODUCT TO NEW SPACE COMPETITORS EVER GIVEN container ship blocking the Suez Canal, Egypt SATELLOGIC BL, ¥ 4 ‘a aly ation men an Satellogic received gold medal inthe NGA Imagery Olympics!
Slide 18: Sub-meter resolution product has a massive cost advantage over competitors
SATELLOGIC’S SUB-METER RESOLUTION PRODUCT HAS A MASSIVE COST ADVANTAGE OVER COMPETITORS EVER GIVEN container ship blocking the Suez Canal, Egypt SATELLC GIC ev oan WORLDVIEW-4 y PLEIADES.1B, Satellite cost: $835mm! . Satellite cost: $425mm* Weight: 2,087 kg? zB Weight: 940 kgs Design life: 7 years?
Slide 19: Satellogic's differentiators are key to unlocking the commercial market
SATELLOGIC’S DIFFERENTIATORS ARE KEY TO UNLOCKING THE COMMERCIAL MARKET Leveraging substantial competitive advantages in costs and camera technology for a disruptive new business model 10x capture capacity via proprietary camera technology vs. / Continuous : Emerging competitors’ capture " . economi
Slide 20: With high-resolution global remapping, Satellogic will be the only company capable of addressing commercial applications
WITH HIGH-RESOLUTION GLOBAL REMAPPING, SATELLOGIC WILL BE THE ONLY COMPANY CAPABLE OF ADDRESSING COMMERCIAL APPLICATIONS' AT NEAR ZERO MARGINAL COST Sub-meter resolution with high-frequency represents an important threshold where significant commercial applications can be harvested Most applications
Slide 21: Satellogic's differentiation unlocks a $140B+ commercial market opportunity
SATELLOGIC’S DIFFERENTIATION UNLOCKS A $140B+ COMMERCIAL MARKET OPPORTUNITY’? The key to unlocking Satellogic’s commercial market opportunity is: @ high resolution, © high frequency, and @ at the right price. Low (Cents/km®) $140bn+' DAILY WORLD REMAPS WEEKLY WORLD REMAPS DATA COST CURRENT EO DATA.
Slide 22: Satellogic has successfully demonstrated the use of its data in vital commercial applications
SATELLOGIC HAS SUCCESSFULLY DEMONSTRATED THE USE OF ITS DATA IN VITAL COMMERCIAL APPLICATIONS ENERGY AGRICULTURE FORESTRY INFRASTRUCTURE Precision Farming / APPLICATION Oil Pipeline Monitoring Infrastructure planning for il Field Monitoring Forestry - tree count Food supply chain renewable energy pr
Slide 23: Satellogic is tapping into commercial vertical solutions
§ SATELLOGIC IS TAPPING INTO COMMERCIAL VERTICAL SOLUTIONS _ Commercial Opportunity by vertical (billions) $180 Road Monitoring axaton brett eae $160 — $140 pecan $120 Farming & sippy chain $100 OilPipeine & ——_onitring $80 penises eel $60 = $40 cae a $20 | Infrastructure’ Energy Natural Food Securi
Slide 24: Recent highlights
RECENT HIGHLIGHTS LISTED AS SATL UNDER NASDAQ Satellogic completed merger with CF Acquisition Corp V in January 2022 with gross proceeds of $262 million, including $150 million investment from Liberty Strategic Capital. FIVE SATELLITES READY FOR LAUNCH Upcoming launch of five new satellites onboard
Slide 25: Additional manufacturing facility
ADDITIONAL MANUFACTURING FACILITY, CAPACITY OF 100 SATELLITES PER YEAR Satellogic selected a site in the Netherlands, in the heart of the space cluster between Rotterdam and Delft The construction of the building at the planned location is expected to be completed by the end of 2021, where the clean
Slide 26: At full operations, two manufacturing plants with combined capacity
AT FULL OPERATIONS, TWO MANUFACTURING PLANTS WITH 124 SATELLITES/YEAR COMBINED CAPACITY 100 satellites per year 24 satellites per year Satellogic High Throughput Plant, Netherlands Satellogic Assembly, Integration & Testing Facility, Uruguay 26
Slide 27: Project and technology roadmap
H PROJECT AND TECHNOLOGY ROADMAP Our plan is to continue to increase frequency and resolution towards a live view of planet Earth SATELLITES IN ORBIT SATELLITE CHARACTERISTICS (GSD RESOLUTION) DAILY REVISITS OF ANY POINT OF INTEREST PRODUCT LAUNCHES 0.99m at 470 km 17 34 0.77m - 0.64m at 600 km - at
Slide 28: How we win
B HOW WE WIN Satellogic is leveraging its substantial advantage in unit-economics to achieve incremental returns on the supply and demand side TWO SIDED BARRIERS TO ENTRY FOR FUTURE COMPETITORS Economies of scale on the supply side Network effects NEAR-ZERO MARGINAL COST to serve new customers. Enab
Slide 29: Leadership team: Board of Directors
LEADERSHIP TEAM: BOARD OF DIRECTORS Steven T. Mnuchin General Joseph F. Dunford Jr. Howard Lutnick Bradley Halverson Founder and Managing Partner of Former Chairman of the Chairman and CEO of Former Group President and Liberty strategic Capital US Joint Chiefs of staff Cantor Fitzgerald Chief Financ
Slide 30: Leadership team: C-suite
LEADERSHIP TEAM: C-SUITE Founder & CEO Co-founded Core Security Technologies, Garage Labs ‘and Aconcagua Ventures Rebeca Brandys General Counsel Commscope nc, Burger king Corporation, US sang team, Stephenson Honwood Gerardo Richarte Founder & CTO / CISO Co-founded Core Security Technologies, and Di
Slide 31: Financial overview
FINANCIAL OVERVIEW
Slide 32: More mapping capacity, superior pricing power, and a growing satellite constellation
More mapping capacity, superior pricing power, and a growing satellite constellation expected to result in rapid revenue growth over the near-term. $240 $83 $37 | | 2021 2022-2023 2024 mmRevenue ——Satellites Dally World Remap: $480 2025 8 3 # of Satellites
Slide 33: Go-to-market strategy
GO-TO-MARKET STRATEGY While we grow our constellation of satellites to deliver services to the commercial sector, we will continue to deliver for our Government and D&l customers to help finance our growing constellation. We've launched 14 high resolution satellites over the past year, and 5 more ha
Slide 34: Satellogic offering and price point are expanding the existing government market
SATELLOGIC OFFERING AND PRICE POINT ARE EXPANDING THE EXISTING GOVERNMENT MARKET Today there are many government and D&d customers that are currently priced out of the market CIVIL GOVERNMENT BUDGET FOR EO PROGRAMS, 2018! >S15B $1-1.58 $500M-1B $200-S00M ‘$100-200M $50-100M $10-50M <S10M fF ard 2024
Slide 35: Satellogic North America (SatNA) is driving USG and CAN sales
=SATELLOGIC NORTH AMERICA (SATNA) IS DRIVING USG AND CAN SALES SATELLOGIC Established to pursue contracts with the US government (USG), the largest buyer of a [| geospatial and EO data in the world, and Canadian government (CAN) ( Continually growing opportunity pipeline of $50mm+' $0 I Approved sub
Slide 36: Offering portfolio
f OFFERING PORTFOLIO DEDICATED SATELLITE IMAGERY Al LAYERS CONSTELLATIONS HOSTED PAYLOAD Bringing space down to Earth Planetary scale insights Satellite-as-a-Service Testing new sensors and hardware in orbit ohis Valu artners. Municipal, State and Nationa Governments R&D and commercial partners 36
Slide 37: Offering portfolio
OFFERING PORTFOLIO Two unique and complementary business segments aimed at positioning the company in the larger information industry and at differentiating ourselves from traditional EO based products GOVERNMENT, d COMMERCIAL Dal CUSTOMERS Planetary-scale dataset of affordable high-frequency, DESCR
Slide 38: Financial projections
FINANCIAL PROJECTIONS ($mm) REVENUE ADJ. EBITDA’ FREE CASH FLOW! @ commenciat pLatroRM @ cerausee ntetuicence 420 2297 s240 $83 $ $125 a i. (2) 7) (st) ($108) _($88) —_— | : a =| 2oa2t 2023820242025 20x2e 20238 «=««2024e «20258 20228 2023E «2024820258 — @8@8 — 66 1A TOA ade Cash lotr mest defn and n
Slide 39: At scale, capex becomes a decreasing percentage of revenues and profits
AT SCALE, SATELLOGIC’S CAPEX BECOMES A DECREASING PERCENTAGE OF REVENUES AND PROFITS . ($mm) ~~ @ ® © @ @ orHen cavex @ ssre1uTe cavex @ 200145 A PERCENTAGE OF REVENUE 2022E 2023E (2024E 2025E SATELLOGIC 39
Slide 40: Key takeaways
BH KEY TAKEAWAYS Expanding margins and accelerating towards positive FCF in 2024 Driving revenue growth (subscription model; Aleph Platform; Satellogic North America; team expansion) 4 4 Vertical integration is creating the most economic and valuable solution, unlocking commercial opportunities and
Slide 41: Global footprint
f GLOBAL FOOTPRINT PRODUCT DELIVERY FINANCE + BUSINESS PLATFORM & SOLUTIONS, DEVELOPMENT & SALES i Barcelonil USA Hub DEVELOPMENT TEAM. Cérboba Ke) ILOT PLANT SATELLITE R&D + MISSION OPERATIONS @Y Wontevideo Buenos Aires HIGH THROUGHPUT PLANT Rotterdam 350+ EMPLOYEES a
Slide 42: Satellogic
SATELLOQGIC’