Intuitive Machines, Inc. · NASDAQ:LUNR

Intuitive Machines — SPAC Merger (September 2022)

40 slides from Intuitive Machines's SPAC merger presentation, Sep 16, 2022

1. Slide 1: Investor Presentation September 2022

   INVESTOR PRESENTATION │ Investor Presentation │ September 2022

2. Slide 2: Disclaimer

   This presentation (together with oral statements made in connection herewith, this “Presentation”) is being delivered to you by Intuitive Machines, LLC (“Intuitive Machines”) and Inflection Point Acquisition Corp . (“Inflection Point”) to assist interested parties in making their own evaluation with

3. Slide 3: Forward-looking statements and risk disclosures

   ( 10 ) the risks described in the “Risk Factor Summary” hereto ; and ( 11 ) other risks and uncertainties described in Inflection Point’s registration statement on Form S - 1 and its Annual Report on Form 10 - K for the year ended December 31 , 2021 and its subsequent Quarterly Reports on Form 10 -

4. Slide 4: Financial Information

   Financial Information This Presentation contains certain estimated preliminary financial results and key operating metrics for the year ended December 31 , 2021 and the six months ended June 30 , 2022 , and the historical financial information with respect to Intuitive Machines contained in the Pres

5. Slide 5: Additional information and participants in solicitation

   The Registration Statement will include information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Inflection Point's shareholders in connection with the Proposed Business Combination . Inflection Point will also file other documents regardin

6. Slide 6: Today's Presenters

   6 TODAY’S PRESENTERS Decades of Sector Experience Proven Track Record of Identifying and Catalyzing Growth ~$330M SPAC Trust With $50M Committed Capital From Sponsor INTRODUCTION │ Investor Presentation │ Steve Altemus Co - Founder, President & Chief Executive Officer Erik Sallee Chief Financial Off

7. Slide 7: Investment Highlights

   7 INVESTMENT HIGHLIGHTS INTRODUCTION Nine - year - old lunar services company, leading position in NASA’s Artemis Program with ~$73M 2021A, ~$102M 2022E, and ~$291M 2023 E revenues ▪ Artemis envisions a permanent moon base and thriving lunar economy. NASA annual Artemis contracting was ~$7B in 2022,

8. Slide 8: Thriving, diverse lunar economy vision

   Working to provide a thriving, diverse lunar economy, creating numerous new opportunities and markets to enable on - orbit applications, a permanent presence on the Moon, and expand the commercial space exploration marketplace INTRODUCTION 8 Video Link A space exploration company establishing the lu

9. Slide 9: Intuitive Machines at a Glance

   Leveraged government contract success to build commercial customer base and industry partnerships required for next phase of growth >100% revenue CAGR since 2018, or ~10x growth 9 $369M Signed Contracts to Date 4 Lunar Missions Scheduled ~104% 2020A - 2024E Revenue CAGR 31% / 52% 2024E / Long Term G

10. Slide 10: Highly qualified management team

    10 Highly qualified team with deep expertise and premium pedigree – led to securing three of initial seven NASA CLPS awards Excellent MANAGEMENT TEAM ACROSS THE SPACE INDUSTRY Erik Sallee Chief Financial Officer Steve Labbe Director, Engineering Anna Ronalds Vice President, Operations Jack “2 Fish”

11. Slide 11: Opening New Markets

    Opening New Markets 11 INTUITIVE MACHINES │ Investor Presentation │

12. Slide 12: Capitalizing on momentum to outpace the competition

    Potential to project soft power through IM – by leveraging commercial industry to retake the high ground and drive U.S. economy growth Rare moment in history alignment and acceleration to win the next space race CAPITALIZING ON MOMENTUM TO OUTPACE THE COMPETITION Geopolitical / Policy Alignment Mark

13. Slide 13: 21st century space race under way

    (1) 2022 Defense Intelligence Agency “Challenges to Security in Space” Report 21st century space race under way ▪ “China and Russia value superiority in space. As a result, they will seek ways to strengthen their space and counterspace programs, and determine ways to better integrate them into their

14. Slide 14: The Artemis Program – An Overview

    14 The Artemis Program – An Overview Unlike the Apollo program, the Artemis program is relying heavily upon partnership with the private sector in order to accomplish its goals in the most cost - effective manner possible The program aims to conduct its first human landing in 2025 and achieve a sust

15. Slide 15: Lunar Market Traction

    1 Management estimate based on contracts awarded 2 NASA has announced $35.2 billion to date and requested an additional $50.5 billion Lunar Market Traction SCIENCE Commercial Lunar Payload Services (CLPS) Space technology Tipping Point Government funded technology development Human exploration Gatew

16. Slide 16: Accessible TAM approximately $120B over the next decade

    1 NSR Moon Markets Analysis (2022); 2 NSR IoSM reports (2021 and 2022); 3 2022 NASA budget; 4 2022 Space Force, SDA and MDA budgets; 5 2019 Satellite Industry Association Report 16 NEW MARKETS Accessible TAM for Intuitive Machines Approximately ~$120b Over the Next Decade EARTH ORBITAL SERVICES LUNA

17. Slide 17: Future of the Moon – Lunar Economy Overview

    Note: Images are simulated and for illustrative purposes Future of the Moon – Lunar Economy Overview 17 CREWED MISSIONS LUNAR HABITAT LUNAR POWER SERVICES COMMERCIAL LANDERS LUNAR TRANSPORTATION SERVICES LUNAR DATA SERVICES NEW MARKETS │ Investor Presentation │

18. Slide 18: Business Overview

    Business Overview 18 INTUITIVE MACHINES │ Investor Presentation │

19. Slide 19: Lunar Access Services

    19 Lunar Access Services INTUITIVE MACHINES BUSINESS UNIT OVERVIEW • IM will utilize its proprietarily developed lunar lander vehicle to service CLPS contracts to fly NASA scientific equipment to the lunar surface and support experiments • Missions expected to grow consistently along with NASA paylo

20. Slide 20: Lunar Access Services Meeting Multi-Market Demand

    Lunar Access Services Meeting Multi - Market Demand Every Mission $233M Signed NASA Commercial Payload Services Contracts; consisting of missions in 2022, 2023 and 2024 $65M Signed NASA Tipping Point contracts and payloads that will fly in 2022 and 2024 $29M Commercial payloads contracted on IM - 1,

21. Slide 21: Lunar Access Services annual cadence

    Lunar Access Services Annual cadence seeding the commercial market PROVEN REVENUE GENERATOR & EXECUTING ON STRATEGY 21 IM - 1 (Q1 2023) IM - 2 (Q2 2023) IM - 3 (Q2 2024) Negotiations on - going with multiple parties for rideshare and payload opportunities. PAYLOADS Commercial 4 12 Commercial 5 6 Com

22. Slide 22: Lunar Access Services revenue and capabilities

    $41 $68 $94 $117 $279 2020A 2021A 2022E 2023E 2024E Technology / Capability CLPS Awards to Date 3 2 1 1 Lander Capability+ <125/<500/ >1,000 kg <125/ < 125 kg <500 kg 500 kg+ 100 kg+ 30 kg / 500 kg 100 kg+ Guidance, Navigation & Control Precision Landing and Hazard Avoidance Operations Engine դ դ դ

23. Slide 23: Lunar Data Services

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24. Slide 24: Lunar Data Services economics of near-space networks

    Lunar Data Services Economics of near - space networks Price $$ $ N/A $$$ Availability դ Security Cloud Integration դ դ Advanced CM դ դ դ Cislunar Space - Based Assets դ դ դ Dish Size 18 - 64m 34 - 70m 13m 15 - 22m GEO Distance XGEO Distance դ Lunar Distance դ …Ɏǝƺȸ     DEFIN

25. Slide 25: Orbital Services

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26. Slide 26: Orbital Services snapshot

    Orbital Services Orbital Servicing Snapshot RPO դ դ դ Robotics դ դ դ Fluid Transfer դ դ դ դ դ Optical Navigation դ  XzÁÈXÁXà0x!RXz0³X³¨…³XÁX…z0(Á…!¨ÁÈ«0z0x0«JXzJx«k0Á 0æ0!ÈÁXzJ…z³Á«Á0Jç     SIGNIFICANT INTUITIVE MACHINES ADVANTAGE: PURSUING $720M NASA AND

27. Slide 27: Space Products / Infrastructure

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28. Slide 28: A carefully crafted roadmap

    Does not include any additional sales of the remaining 24,500 grams of lunar material A CAREFULLY CRAFTED ROADMAP Èzn…!kXzJÁR0IXzn0!…z…xX!I«…zÁX0«يÁR0x……z nɖȇƏȸ³ɖȸǔƏƬƺƬƬƺɀɀ nɖȇƏȸ(ƏɎƏ³ƺȸɮǣƬƺɀ Robotics !È««0zÁ ȳXz0³³nXz0 Á«!ÁX…z !!0n0«Á0( J«…áÁR א׎אג 0«0à0zÈ0 Lunar Surface Access

29. Slide 29: Transaction Overview and Financials

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30. Slide 30: Transaction Summary

    62% 29% א ۏ ו ۏ Ň  XȇɮƺɀɎȒȸ¨ȸƺɀƺȇɎƏɎǣȒȇ Ň 30 IXzz!Xn³Èxx«ç 53"/4"$5*0/
    46.."3: Key Highlights Estimated Sources and Uses ($M) ƒ ɖɀǣȇƺɀɀƬȒȅƫǣȇƏɎǣȒȇƫƺɎɯƺƺȇXȇɎɖǣɎǣɮƺxƏƬǝǣȇƺɀ٢ ٹ Xx ٺ ٣ƏȇƳXȇˢƺƬɎǣȒȇ¨ȒǣȇɎ ƬȷɖǣɀǣɎǣȒȇ!Ȓȸȵِ٢ ٹ X¨æ ٺ ٣ ƒ ¨ȸȒǔȒȸȅƏƺȇɎƺȸȵȸǣɀƺɮƏǼɖƏɎǣȒȇȒǔۃڟ ז׏ד x ׏ ًǣ

31. Slide 31: Financial Summary: Strong Historical Track Record

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    3FDPSE (Revenue $M) ▪ First mover advantage resulted in strong lead in a large, untapped addressable market ▪ 3 CLPS awards to date, more than any competitor ▪ $369M in bookings and ~$188M 1 in backlog ▪ Leveraged government contract success to build commerc

32. Slide 32: Projected Revenue

    ڟ חג ڟ ׏׏ו $279 $19 $106 $54 ڟ ׏אח $102 ڟ אגה ڟ וב $102 $291 $759 2021A א׎אא 0 2023E א׎אג 0 nɖȇƏȸƬƬƺɀɀ³ƺȸɮǣƬƺɀ Lunar Data Services Orbital Services Space Products and Services ▪ Investment allows us to outpace the competition and enables 119%+ CAGR over the next 3 years ▪ Investing in larger l

33. Slide 33: Forecast Summary

    FORECAST SUMMARY FINANCIAL SUMMARY ٢ڟx٣ 2022E 2023E 2024E Lunar Access Services $94 $117 $279 Lunar Data Services 19 106 Orbital Services 54 129 Space Products 7 82 146 Space Infrastructure 1 19 100 Total Revenue $102 $291 $759 % Revenue Growth 41% 185% 161% Gross Profit $10 $79 $232 % Gross Margin

34. Slide 34: 2023E Revenue Opportunity

    FINANCIAL SUMMARY בג א׎אא 0«ƺɮƺȇɖƺ…ȵȵȒȸɎɖȇǣɎɵ 2023E Revenue Opportunity ($M) ▪ Hired world class team from large cap aerospace prime specifically focused on orbital services contract with Goddard Space Flight Center to be awarded in Q1 2023 ▪ 3 CLPS contracts to be bid in 2023 provides opportunity

35. Slide 35: Near Term Contract Visibility

    FINANCIAL SUMMARY 35 NEAR TERM CONTRACT Visibility Unweighted Contract Opportunity ($M) Segment Contract 100 Lunar Access Services IM - 4 (2Q 2025) - Nova C 86 Space Products xEVAS 5 Infrastructure Lunar Terrain Vehicle (LTV) - Phase 1 Unweighted Contract Opportunity ($M) Segment Contract 500 Lunar

36. Slide 36: Comparables summary – Valuation

    2.8x 7.2x 2.0x אِב ɴ וِה ɴ 33.4x 4.7x 1.1x 4.3x 1.9x 1.0x דِב ɴ חِ׎ ɴ 1.5x FINANCIAL SUMMARY Comparables summary – Valuation 36 EV / Rev (23E) Mean: 9.5x ³ȒɖȸƬƺيIƏƬɎ³ƺɎƏɀȒǔ ח ٖ ׏ג ٖ א׎אא ًáƏǼǼ³ɎȸƺƺɎ«ƺɀƺƏȸƬǝًXȇɎɖǣɎǣɮƺxƏƬǝǣȇƺɀxƏȇƏǕƺȅƺȇɎƺɀɎǣȅƏɎƺƳǔȒȸƺƬƏɀɎً!ƏǼƺȇƳƏȸǣɿƺƳ0ɀɎǣȅƏɎƺɀ 0àٖ«ƺɮ

37. Slide 37: Comparables summary – Operating metrics

    ڟ וב $130 $1,770 $41 $62 $3 $7 ڟ אח׏ ڟ אדג $1,961 $284 $323 $24 $276 $759 ڟ גאב ڟ אً׏׎ד $665 $468 $90 $890 $102 $182 ڟ ׏ًז׎ז ڟ חב $228 $1 $36 FINANCIAL SUMMARY Comparables summary – Operating metric 37 «ƺɮ٢ אב 0٣ «ƺɮ٢ אג 0٣ 185% 40% 8% 206% 41% NM 667% 161% 66% 7% 134% 45% 270% 222% YoY Growt

38. Slide 38: A rare opportunity to invest in a category-defining company

    A RARE opportunity to invest in a category - defining company within the new space economy 38 National Security Imperative that mandates government customer demand in this market With The Team, Technology, Facilities, and Supply C hain to seize a great economic opportunity ³ǣǕȇǣ˾ƬƏȇɎÈȵɀǣƳƺ¨ȒɎƺȇɎǣƏ

39. Slide 39: Risk Factor Summary

    Our limited operating history makes it difficult to evaluate our future prospects and the risks and challenges we may encounter . If we fail to manage our growth effectively, we may be unable to execute our business plan and our business, results of operations, and financial condition could be harme

40. Slide 40: Risk Factor Summary (continued)

    áƺ  ƳƺȵƺȇƳ  ɀǣǕȇǣ˾ƬƏȇɎǼɵ  Ȓȇ  È ٫ ³ ٫  ǕȒɮƺȸȇȅƺȇɎ  ƬȒȇɎȸƏƬɎɀ٦  ɯǝǣƬǝ  ȒǔɎƺȇ  Əȸƺ  ȒȇǼɵ  ȵƏȸɎǣƏǼǼɵ  ǔɖȇƳƺƳ٦  ɀɖƫǴƺƬɎ  ɎȒ  ǣȅȅƺƳǣƏɎƺ  ɎƺȸȅǣȇƏɎǣȒȇ٦  ƏȇƳ  ǝƺƏɮǣǼɵ  ȸƺǕɖǼƏɎƺƳ  ƏȇƳ  ƏɖƳǣɎƺƳ ٫  Áǝƺ  ɎƺȸȅǣȇƏɎǣȒȇ  Ȓȸ  ǔƏǣǼɖȸƺ  ɎȒ  ǔɖȇƳ٦  Ȓȸ  ȇƺǕƏɎǣɮƺ  ƏɖƳǣɎ  ˾ȇƳǣȇǕɀ  ǔȒȸ٦  Ȓȇ

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