Slide 1: Space42 FY 2025 Pro Forma Results Presentation
Space42 FY 2025 Pro Forma Results Presentation 26 February 2026 Copyright © 2026 Space42 PLC (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.
Slide 2: Speakers
Speakers Karim Michel Sabbagh Andrew Cole Bruno Priuli Managing Director Chief Financial Officer VP of Investor Relations 2 Copyright © 2026 Space42 PLC (Space42)
Slide 3: Agenda
Agenda 1 Key highlights 2 Strategy update 3 Financial overview 4 Q&A
Slide 4: Key highlights
•1 Key highlights
Slide 5: Key highlights
Key highlights Return to Growth Q4 revenues up 7% reflecting record Space Services and stabilization of Smart Solutions as transition progresses - Space Services H2 revenue up 14% Strategic Execution Measurable progress against four core pillars underpinned by global partnerships (Viasat, Microsoft,
Slide 6: Strategy update
Strategy update
Slide 7: Strategic pillars: Translating vision into reality
Strategic pillars: Translating vision into reality Core pillars and sectorial priority to secure sustainable long-term growth Smart Solutions VERTICALIZED SOLUTIONS Preferred partner for premium geospatial data 1 Build tier-1 sovereign multi-sensor EO assets and capabilities Telecom Global leader in
Slide 8: Strategy-based transformation
Strategy-based transformation Laying foundations for future, sustainable growth From opportunistic approach on EO, advanced technology with … to GeoInt capabilities enabling programmatic engagement Smart Solutions and legacy SatCom with Space Services… of AI opportunities, next-gen broadband and D2D
Slide 9: Smart Solutions: Preferred partner for premium geospatial data
Smart Solutions Pillar 1 - Preferred partner for premium geospatial data Foresight Constellation 1 Map Africa 1 Next-gen HAPS1 1 SAR satellites AI and geospatial capabilities that enable data-driven development Resolution Daily 25 cm Revisit time Technology Partner 99% 1200 MHz • Near-real time moni
Slide 10: Smart Solutions: Global leader in GeoInt AI platform and services
Smart Solutions Pillar 2 - Global leader in GeoInt AI platform and services 2 ▪ Built AI-powered geo-intelligence platform to deliver insights at scale ▪ Available on Microsoft Azure marketplace ▪ Awarded UAE Government Future-Fit Seal for advanced capabilities ▪ Transitioning to subscription, usage
Slide 11: Space Services: Global NTN leader
Space Services Pillar 3 – Global NTN leader Thuraya-4 bridge to D2D 3 Equatys: Enabling global D2D 3 GEO satellites (T2 and T4) SMS Voice Cell towers (terrestrial) NTN TN Convergence 5G / 3GPP Standards ▪ Launched January 2025, commercial service commenced H2 2025 ▪ Partnered with Viasat to launch E
Slide 12: Space Services: Trusted leader in secure connectivity (1 of 2)
Space Services Pillar 4 - Trusted leader in secure connectivity (1 of 2) Enhance leadership position in secure connectivity solutions 4 Al Yah 4 and Al Yah 5 program on track ▪ Next-gen GEO satellites reinforce leadership position in secure connectivity ▪ Advanced critical milestones: PDR completed
Slide 13: Space Services: Trusted leader in secure connectivity (2 of 2)
Space Services Pillar 4 - Trusted leader in secure connectivity (2 of 2) LEO partnership under formulation 4 Space42 can leverage global network of space and ground Partner constellation assets 3rd 3rd Global partner gateways Sovereign gateway Fixed terminals in UAE fixed terminals UAE abroad Sovere
Slide 14: Strategic plan: Guided by five principles
Strategic plan Guided by five principles Programmatic Scalability Growth Prioritize clearly defined growth Unlock opportunities and business programs that bring incremental models which can be materially and recurring value scaled and are not constrained by geography, customer segment or sector Sust
Slide 15: Financial overview
Financial overview
Slide 16: Financial highlights
Financial highlights Resilient financial performance in transition year Revenue performance reflects stellar Space Services (up 6%) offset by with return to growth in Q4 softer Smart Solutions as programmatic transition advances Solid margins reflect rigorous control of cost base, excluding impact o
Slide 17: Income statement highlights
Income statement highlights Financial extracts FY’25 FY’24 FY YoY Δ Revenue 577 629 (8%) (53) ▪ Revenue headwinds reflects Smart Solutions transformation as it refocuses on Cost of revenue (173) (168) (3%) (5) programmatic engagements aligned to strategic capabilities of Earth Observation, Staff cos
Slide 18: Normalized results
Normalized results Normalized Adjusted EBITDA Normalized Net Profit FY’25 FY’24 FY YoY Δ FY’25 FY’24 FY YoY Δ Adjusted EBITDA 90 317 (72%) (227) Net Profit (53) 166 (132%) (219) Restructuring costs 3 1 nm 1 Total EBITDA adjustments 135 (39) nm 173 Merger costs - 3 nm (3) Gain on sale of assets - (13
Slide 19: Financial performance - revenue
Financial performance - revenue ▪ Revenue shortfall reflects exceptionally strong performance in Space -8% +7% Services offset by softer Smart Solutions as transition to programmatic 629 214 engagements continues 577 201 ▪ Space Services, accounting for 78% of consolidated revenues, grew full year r
Slide 20: Financial performance – normalized EBITDA
Financial performance – normalized EBITDA -19% 278 224 ▪ Year-on-year normalized EBITDA declined 19% to USD 224 million ▪ Space Services delivered highest ever normalized EBITDA (and Net Profit), up 9% year- 258 on-year, reflecting revenue growth across most business segments and reductions across 2
Slide 21: Contracted future revenues
Contracted future revenues USD 6.5 billion of revenue backlog provides visibility and security over future cash flow 4,778 6,463 4,774 384 4 359 400 25 6,280 374 416 27 of which: 383 AY 4&5: USD 5.1 billion CSA: USD 0.2 billion 485 T4: USD 0.7 billion 33 O&M: USD 0.05 billion 391 94 183 2026 2027 20
Slide 22: Cash bridge
Cash bridge Debt repayment and CapEx drive reduction in cash -14% (224) 300 ▪ CapEx totaled USD 273 161 ▪ Al Yah 4 and million, with more than 1,163 (404) Al Yah 5 advance 80% related to satellite ▪ Strong operating cash flow (2nd tranche) development, primarily driven by Space Services Al Yah 4 and
Slide 23: Strong balance sheet
Strong balance sheet Balance sheet extracts FY’25 FY’24 FY YoY Δ ▪ Decrease in CWIP relates to commencement of operations of Fixed Assets (Satellites, ground systems/infrastructure, land and buildings, incl. 922 565 63% 357 Thuraya-4 (higher fixed asset) partially offset by CapEx related to capital
Slide 24: Financial Framework built on Three Pillars
Financial Framework built on Three Pillars Capitalize on superior standalone and merged Vision SGAI services and pursue profitable growth opportunities, leading to increased company valuation Organic Growth 1 Inorganic Growth 2 Returns Maximization 3 Strategic Scalability, value-chain expansion Cash
Slide 25: Q&A
Q&A
Slide 26: Appendix
Appendix
Slide 27: Alternative performance measures
Alternative performance measures Space42 uses alternative performance measures which are relevant to enhance understanding of financial performance and financial position of Group. These measures may not be comparable to similar measures used by other companies; they are neither measurements under I
Slide 28: Disclaimer
Disclaimer Information contained in this presentation represents a summary of condensed pro forma consolidated financial statements for full-year ended 31 December 2025 (FY 2025 Financial Statements) of Space42 PLC and its subsidiaries (Space42). This presentation does not purport to contain all inf
Slide 29: Copyright © 2026 Space42 PLC (Space42) This document contains Space42's proprietary and confidential information.
Copyright © 2026 Space42 PLC (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.