Slide 1: Investor Presentation Second Quarter 2025
Investor Presentation Second Quarter 2025 Kevin McAleenan Sean Ricker CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER BOARD MEMBER
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”), the Securities Exchange Act of 1934 (the “Exchange Act”) and the Priva
Slide 3: Non-GAAP Financial Information
Non-GAAP Financial Information This presentation includes financial measures that are not in accordance with generally accepted accounting principles (“GAAP”), such as EBITDA, Adjusted EBITDA, and Adjusted Gross Margin. We believe these non-GAAP financial measures provide investors and analysts with
Slide 4: Agenda
AG E N D A Q2 2025 Updates 01 Market Growth 02 Market Positioning and Progress 03 Q2 2025 Balance Sheet Highlights 04 Strategic Priorities 05 Closing Remarks 06
Slide 5: Q2 2025 Updates
Q2 2025 Updates Massive increase in emphasis on border and biometrics Defense disruption and AI breakthroughs transforming industry Accelerated global expansion with UAE partnership and others Strongest balance sheet in BBAI history Repositioning in Army as their priorities shift to advanced AI solu
Slide 6: Massive growth ahead in AI and Security
Massive growth ahead in AI and Security Industry trends: Major legislation: Unprecedented AI growth One Big Beautiful Bill $1.4T +$70B Acceleration joint AI investment with the Increased supplemental funding for U.S. United Arab Emirates (UAE) CBP over 4 years 44% YoY increase in U.S. investments in
Slide 7: Market positioning and progress
Market positioning and progress Market Leadership Disruptive Supply Chain, in Security, Travel Capabilities in Logistics, Global & Trade National Security Manufacturing Reach •Deployed Enhanced •ConductorOS at •Shipyards leveraged •IHC partnership Passenger Talisman Sabre ShipyardAI in UAE Processin
Slide 8: Q2 2025 Balance Sheet Highlights
Q2 2025 Balance Sheet Highlights •Record ending cash balance of $391M Cash and Total Debt ($ millions) $391 •First time in net positive cash position; almost Net Cash $250M as of end of 2Q + $248 $202 $201 $201 $200 $201 $201 $200 $200 $201 •Increased liquidity will support strong $143 $143 offensiv
Slide 9: Strategic Priorities
Strategic Priorities Context Priorities Defense and Accelerate organic growth Security Onboard top talent Physical AI and IOT Innovate in AI Pursue key partnerships Agentic AI 9
Slide 10: Closing Remarks
Closing Remarks BigBear.ai is at the intersection of favorable industry and legislative trends Demonstrated expertise and proof points in core markets and is well-positioned to win Strongest financial position and balance sheet to pursue organic and inorganic growth 10
Slide 11: Safeguarding National Security
Safeguarding National Security BigBear.ai fuses artificial intelligence with deep mission expertise, empowering decision-makers and operators to act with speed, precision, and confidence. Strengthening Critical Infrastructure 11
Slide 12: Contact: Investors@BigBear.ai
Contact: Investors@BigBear.ai
Slide 13: Appendix
Appendix
Slide 14: Supplemental Non-GAAP Information
Supplemental Non-GAAP Information 14
Slide 15: Supplemental Non-GAAP Information (continued)
Supplemental Non-GAAP Information (continued) *Adjusted gross margin and Adjusted EBITDA are non-GAAP financial measures. See the “Supplemental Non-GAAP Information” section for additional information and a reconciliation. 15