Slide 1: Q3 2025 Investor Presentation
Q3 2025 Investor Presentation November 6, 2025
Slide 2: Use of Data and Use of Projections
Use of Data Industry and market data used in this Presentation have been obtained from third-party industry publications and sources, as well as from research reports prepared for other purposes. Redwire has not independently verified the data obtained from these sources and cannot assure you of the
Slide 3: Cautionary Statement Regarding Forward-Looking Statements (Continued)
Cautionary Statement Regarding Forward-Looking Statements (Continued) (continued from prior slide) (33) failure to adequately protect our intellectual property rights; (34) failure to obtain necessary additional funding; (35) the fact that AE Industrial Partners and its affiliates have significant i
Slide 4: Agenda
Agenda Presenters 1 Q3 2025 Results 6 2 Financial Results & 2025 Outlook 15 3 Q&A 19 Peter Jonathan Chris Cannito Baliff Edmunds Chairman & Chief Chief Financial Officer Chief Accounting Officer; Executive Officer Chief Financial Officer1 1. Insert Footnote 1Effective December 1, 2025. 4
Slide 5: Introducing Our Updated Vision Statement
Introducing Our Updated Vision Statement Our Vision ---------- To pioneer next-generation space and defense technologies that empower scientific discovery, advance global industries, and strengthen security — transforming how humanity explores, connects, and protects — from the skies above to the st
Slide 6: Q3 2025 Results
Q3 2025 Results Peter Cannito, Chairman and CEO Demonstrating Stalker UAS at the Maneuver and Fires Integration Experiment Credit: Redwire 1. Insert Footnote 6
Slide 7: Q3 2025 Highlights
Q3 2025 Highlights Sharpening execution; Book-to-Bill1 of 1.25x with achieved Adjusted Gross awards in key focus areas Margin2 of 27.1% and from Stalker UASs for LRR sequential Adjusted EBITDA2 to ROSAs for CLD improvement of $24.8M U.S. government shutdown Significant sequential and has pushed a nu
Slide 8: Redwire Value Drivers
Redwire Value Drivers Next-Gen Large Space Microgravity Combat-Proven Sensors & Spacecraft Infrastructure Development UAS Payloads VLEO / GEO ROSA / IBDM SpaceMD Stalker / Penguin Optics / RF We build next- We provide building We are a global leader We supply combat- We support multi- generation spa
Slide 9: Differentiators: Next-Gen Spacecraft
Next-Gen Spacecraft Differentiators • Existing funded customers • First mover advantage with two advanced VLEO designs • Classified personnel and facilities Q3 2025 Proof Point • In Q3, became the prime contractor for the European Space Agency's VLEO Skimsat program, leveraging Redwire's Phantom spa
Slide 10: Differentiators: Large Space Infrastructure
Large Space Infrastructure Differentiators • ROSA heritage on the ISS, DART, Maxar's Ovzon 3, and more • Key supplier for ROSA and IBDM on funded contracts from customers • Protected IP such as Roll-Out design Q3 2025 Proof Point • Awarded a contract to develop and deliver ROSA wings for Axiom Stati
Slide 11: Differentiators: Microgravity Development
Microgravity Development Differentiators • 100s of microgravity experiments conducted • Proven PIL-BOX IP • Existing funded customers (commercial, government, and international) Q3 2025 Proof Point • Launched 14 PIL-BOXes to the ISS in Q3 bringing our total to 42 PIL-BOXes to-date, studying 35 uniqu
Slide 12: Differentiators: Combat-Proven UAS
Combat-Proven UAS Differentiators • Stalker is proven, with ~20 years of heritage and 300K+ flight hours • All-electric Stalker VTOL is silent, payload agnostic with 30+ third party payloads integrated, and has extended endurance of 18+ hours • Delivered more than 200 Penguin aircraft to Ukraine Arm
Slide 13: Differentiators: Sensors & Payloads
Sensors & Payloads Differentiators • Decades of heritage; delivered thousands of space-based sensors & payloads, including antennas, sun sensors, star trackers, and cameras • More than 400 Octopus gimbals delivered to the Ukraine Armed Forces • Compatible with wide variety of UAS platforms Q3 2025 P
Slide 14: Pipeline and Backlog Improvement
Pipeline and Backlog Improvement Demonstrating the Heritage + Innovation Differentiation Quarterly Contracts Awarded ($M) $10.0B+ ~$3.0B $129.8 $90.6 Pipeline as of FY2025 submitted bids as September 30, 2025 of September 30, 20251 6/30/2025 9/30/2025 Contracted Backlog2 Detail ($M) $129.8M 1.25x $3
Slide 15: Financial Results & 2025 Outlook
Financial Results & 2025 Outlook Chris Edmunds, Ribbon cutting for Redwire's new Firestone Rapid Chief Accounting Officer Capabilities Facility in Albuquerque, NM. Credit: Redwire 1. Insert Footnote 15
Slide 16: Balancing Growth & Profitability in FY2025
Balancing Growth & Profitability in FY2025 $103.4M $103.4 $(41.2)M $(41.2) Revenue $61.8 Net Loss $(97.0) Including $49.5M of Edge Autonomy Including an $11.2M purchase revenue recognized during the accounting fair value adjustment period related to inventory Q2 2025 Q3 2025 Q2 2025 Q3 2025 $89.3M $
Slide 17: Q3 2025 Gross Profit and Use of Cash Details
Q3 2025 Gross Profit and Use of Cash Details Q3 2025 Adjusted Gross Profit & Reduction in Net Cash Used in Operating Activities in Q3 2025 Adjusted Gross Margin Bridge 1 versus Q1 and Q2 2025 $30.0 $11.2 $28.0 $— Adjusted $25.0 Gross Margin1: $(25.0) $(20.3) 27.1% $20.0 $16.8 $15.0 Gross $(50.0) $(4
Slide 18: 2025 Outlook
2025 Outlook Revenue 6.3% • Due to the ongoing U.S. R: 1 CAG idpoint $340.0 government shutdown, a number - 202 5E M 2023 $304.1 of our anticipated orders have $320.0 been pushed out of the quarter $243.8 and into 2026 • As a result, for the full year 2025, including Edge Autonomy from the date of c
Slide 19: Questions & Answers
Questions & Answers Credit: Redwire 1. Insert Footnote 19
Slide 20: Appendix
Appendix > 20
Slide 21: Q3 2025 Quarter-to-Date Performance
Q3 2025 Quarter-to-Date Performance Three Months Ended $ Change from prior % Change from prior ($ in thousands, except percentages) September 30, 2025 September 30, 2024 year period year period Revenues $ 103,432 $ 68,638 $ 34,794 51 % Cost of sales 86,622 56,615 30,007 53 Gross profit 16,810 12,023
Slide 22: 2025 Year-to-Date Performance
2025 Year-to-Date Performance Nine Months Ended $ Change from prior % Change from prior ($ in thousands, except percentages) September 30, 2025 September 30, 2024 year period year period Revenues $ 226,587 $ 234,541 $ (7,954) (3)% Cost of sales 219,800 194,709 25,091 13 Gross profit 6,787 39,832 (33
Slide 23: Supplemental Non-GAAP Information
Supplemental Non-GAAP Information Three Months Ended Nine Months Ended Adjusted EBITDA September 30, September 30, September 30, September 30, Adjusted EBITDA is not a measure of results under generally accepted (in thousands) 2025 2024 2025 2024 accounting principles in the United States. Net incom
Slide 24: Supplemental Non-GAAP Information, Continued
Supplemental Non-GAAP Information, Continued i. Redwire incurred acquisition costs including due diligence, integration costs and Three Months Ended additional expenses related to pre-acquisition activity. Acquisition deal costs was (in thousands) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 reclassified
Slide 25: Supplemental Non-GAAP Information, Continued
Supplemental Non-GAAP Information, Continued Three Months Ended Nine Months Ended Free Cash Flow September 30, September 30, September 30, September 30, Free Cash Flow is computed as net cash provided by (in thousands) 2025 2024 2025 2024 (used in) operating activities less capital expenditures. The
Slide 26: Key Performance Indicators
Key Performance Indicators Contracted Backlog We view growth in backlog as a key measure of our business growth. Contracted backlog September 30, June 30, December 31, represents the estimated dollar value of firm funded executed contracts for which work (in thousands) 2025 2025 2024 has not been pe
Slide 27: Glossary
Glossary Acronym Definition Acronym Definition AFRL Air Force Research Laboratory LRR Long Range Reconnaissance AI Artificial Intelligence MOU Memorandum of Understanding ATAK Android Team Awareness Kit OEM Original Equipment Manufacturer CLD Commercial LEO Destination PIL-BOX Pharmaceutical In-spac