Slide 1: First Quarter 2026 Financial Results Conference Call
First Quarter 2026 Financial Results Conference Call May 12, 2026
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Forward-Looking Statements Legend This Presentation contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”,
Slide 3: Agenda
PRESENTING TODAY AGENDA 01 Introduction & Company Overview Emiliano Kargieman · Founder & Chief Executive Officer VADM Frank D. Whitworth, USN (Ret.) · Strategic Advisor 02 Financial Results — First Quarter 2026 Rick Dunn · Chief Financial Officer Emiliano Kargieman Founder & Chief Executive Officer
Slide 4: Introduction and Company Overview
Introduction and Company Overview 1 Unique Sovereign & Defense Solutions: Space Systems allows governments to own and operate sovereign EO assets with limited export controls. In-country AIT manufacturing. Slingshot Phase II/III expansion with U.S. Office of Naval Research deepens defense engagement
Slide 5: Financial Highlights: Three Months Ended March 31, 2026
FINANCIAL HIGHLIGHTS: THREE MONTHS ENDED MARCH 31, 2026 Total Revenue Cash & Equivalents Total Operating Exp. Net Cash from Operating Activities Operating Loss $6.1M $121.9M $12.5M $0.2M $(6.4M) ↑ 80% year-over-year vs. $94.4M at year-end 2025 ↓3% year-over-year +$4.9M improvement YoY ↑33% improveme
Slide 6: Commercial Update & Recent Wins
COMMERCIAL UPDATE & RECENT WINS Q1 2026 Business Line Performance and Key Catalysts COMMERCIAL MOMENTUM & CUSTOMER TRACTION Q1 2026 JAN 8, 2026 JAN 29, 2026 Asia Pacific Growth Seven-Figure Monitoring Agreement Albania Monitoring Extended Asia & Asia Pacific revenue grew more than 700% Signed seven-
Slide 7: Transformation: Imagery to Persistent Global Intelligence
TRANSFORMATION: IMAGERY TO PERSISTENT GLOBAL INTELLIGENCE A new category shifting from reactive tasking to always-on monitoring. Traditional EO Persistent Global Intelligence Task individual images Continuous monitoring — always on Episodic, fragmented visibility Daily planetary baseline coverage Li
Slide 8: Aleph Observer
IN MARKET ALEPH OBSERVER Aleph Observer provides persistent monitoring across hundreds of priority sites with assured capacity, reliable cadence, and built-in analytics. Scale Persistent monitoring across hundreds of sites simultaneously Assurance Capacity at scale & reliable cadence in priority reg
Slide 9: Merlin: On Track for October 2026
MERLIN: ON TRACK FOR OCTOBER 2026 The first Earth observation system designed to deliver daily 1-meter global coverage and real-time intelligence at planetary scale. Planetary Scale Daily 1-Meter Baseline Real-time Intelligence Millions of sites globally A continuously updated map of the Earth AI-al
Slide 10: Closing Remarks
CLOSING REMARKS 01 Revenue Momentum 80% Q1 revenue growth to $6.1M, with Asia & Asia Pacific revenue >8x YoY to $3.0M; positive operating cash flow inflection. Operating Leverage 02 Adj. EBITDA loss improved 32% YoY to $(4.2M); Q1 generated positive net cash from operations despite net loss $(118.3M
Slide 11: Question & Answer
QUESTION & ANSWER Thank You for Joining the SATL | Nasdaq Listed Q1 2026 Earnings Call INVESTOR RELATIONS MEDIA RELATIONS Satellogic Inc. Satellogic Inc. ir@satellogic.com pr@satellogic.com www.satellogic.com 12
Slide 12: Reconciliation of Non-GAAP Financial Measures: Adjusted EBITDA to US GAAP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: ADJUSTED EBITDA TO US GAAP (In thousands of U.S. dollars) Q1 2026 Q1 2025 Net loss attributable to stockholders $(118,302) $(32,581) Interest income, net (957) (177) Income tax expense 40 715 Depreciation 1,392 2,687 Non-GAAP EBITDA (loss) $(117,827) $(