Slide 1: 9-Month 2025 Pro Forma Results Presentation
Space42 9-Month 2025 Pro Forma Results Presentation 6 November 2025 Copyright © 2024 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 Copyright © 2024 Space42 Plc (Space42) 2
Slide 3: Agenda
Agenda 1 Key Highlights 2 Strategy Update 3 Financial Overview 4 Q&A
Slide 4: Key Highlights
ISPACERES Key Highlights
Slide 5: Key Highlights
Key Highlights Clear Strategic Plan Based on four core pillars focused on assuming leadership positions in geospatial data and AI platform services, NTN1 services and providing secure connectivity solutions Laying Foundations for Sustainable Growth Space Services double digit revenue growth2 as Thur
Slide 6: Strategy Update
ISPACERES Strategy Update
Slide 7: Translating vision into reality
Translating vision into reality Core pillars and sectorial priority will secure sustainable long-term growth CORE PILLARS Preferred partner for premium geospatial data 1 Build tier-1 sovereign multi-sensor EO assets and capabilities Global leader in GeoInt AI platform and services 2 Deliver actionab
Slide 8: Smart Solutions
Smart Solutions Core Pillars 1 and 2 Foresight Constellation 1 Map Africa 1 GeoInt AI-platform and services 2 SAR satellites AI and geospatial capabilities that enable data-driven development Resolution Daily 25 cm Revisit time Technology Partner 99% 1200 MHz Operational Payload uptime technology ▪
Slide 9: Space Services: Core Pillars (1/3)
Space Services Core Pillars 3 (1/3) x Announcement of Equatys, in partnership with Viasat, to + deliver Direct-to-Device future space system Business Neutral wholesale “Space TowerCo” – shared Phased deployment approach with commercial Model and scalable multi-tenant infrastructure roll-out targeted
Slide 10: Space Services: Core Pillar (2/3)
Space Services Core Pillar 3 (2/3) Direct-to-Device (D2D) market forecast – USD billion Smartphone IoT +18% 25 26 Total addressable market1 USD Bn 22 24 24 CAGR 21 2028-40 19 16 Any Standard phone: ~1.5 Bn 13 20 21 17% 11 19 19 20 16 17 8 14 6 11 Standard IoT devices: ~2.5 Bn 4 2 3 3 4 4 4 4 5 5 23%
Slide 11: Space Services: Core Pillar (3/3)
Space Services Core Pillar 3 (3/3) Smart Capital, Scalable Returns Space42 L-band spectrum ▪ Accretive investment in Equatys as co-founder, with capital commitment comparable to GEO-like mission investment and return i.e., double digit IRR Spectrum Synergy, Global Reach ▪ Unprecedented value enhance
Slide 12: Space Services: Enhance leadership in secure connectivity
Space Services Core Pillar 4 Enhance leadership position in secure connectivity solutions Al Yah 4 and Al Yah 5 program on track ▪ Next-gen GEO satellites reinforce leadership position in secure connectivity ▪ Preliminary Design Review completed and Critical Design Review in advanced stages Expected
Slide 13: Strategic Plan
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 14: 9M 2025 Financial Overview (Pro forma)
3 9M 2025 Financial Overview (Pro forma) Note: Unaudited pro forma financials for Space42 have been prepared to allow for like-for-like comparison, as if merger had occurred on 1 January 2023. These exclude any purchase price allocation adjustments
Slide 15: Financial Highlights
Financial Highlights Revenue shortfall reflects on-going strategic and operational Resilient financial performance during transition period transformation of Smart Solutions whilst Space Services accelerates, with revenue shortfall partially offset by lower cost base growing by 11% quarter-on-quarte
Slide 16: Income Statement Highlights
Income Statement Highlights Financial extracts 9M’25 9M’24 YoY Δ Revenue 363 428 (15%) (66) ▪ Revenue headwinds (-15%) reflect transformation of Smart Solutions as it Cost of revenue (77) (96) 20% 19 refocuses on programmatic engagements aligned to strategic capabilities of Staff costs (89) (89) 0%
Slide 17: Normalized Results
Normalized Results Normalized Adjusted EBITDA Normalized Net Profit 9M’25 9M’24 YoY Δ 9M’25 9M’24 YoY Δ Adjusted EBITDA 155 230 (33%) (75) Net Profit 58 119 (52%) (61) One-off restructuring costs 3 1 nm (2) Total EBITDA adjustments 3 (28) nm 31 One-off merger costs - 2 nm (2) Tax impact of adjustmen
Slide 18: Financial Performance - Revenue
Financial Performance - Revenue ▪ Revenue shortfall reflects Smart Solutions strategic and +22% operational transition as well as temporary timing shifts in -15% milestone execution of a major program 428 136 ▪ Space Services grew revenues in Q3 by 11% vs Q2 following 363 111 start of operations of
Slide 19: Financial Performance - EBITDA
Financial Performance - EBITDA -33% 230 ▪ Year-on-year EBITDA decline of 33% not directly comparable due to one-off impact of 155 USD 30 million liquidated damages in prior year ▪ Excluding one-off items, Normalized Adj. EBITDA declined 22% reflecting on-going transformation of Smart Solutions as we
Slide 20: Future Contracted Revenue – Space42
Future Contracted Revenue – Space42 Figures in USD million USD 6.7 Bn of contracted revenue provides visibility over future cash flows 94% of cumulative contracted revenue relates to Space Services 5,111 6,677 5,028 416 83 366 441 49 6,249 Of which: AY 4&5 – USD 5.1Bn 373 CSA - USD 0.3Bn T4 - USD 0.
Slide 21: Cash Bridge – Space42
Cash Bridge – Space42 Debt repayment and CapEx drive reduction in cash -407 1,163 114 190 ▪ Strong operating cash ▪ CapEx totaled USD 217 331 flow driven by Space million with almost ~67% Services, partially offset related to satellite 755 by reimbursement of CSA development, primarily advance Al Ya
Slide 22: Strong Balance Sheet
Strong Balance Sheet Balance sheet extracts 9M’25 FY’24 9M YTD Δ Fixed Assets (Satellites, ground systems/infrastructure, land and buildings, incl. 872 546 1 325 capital work in progress) ▪ Equity increased over 9-month period by USD 41 million Capital work in progress (CWIP incl. T4, AY4 and AY5, H
Slide 23: 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 24: ISPACERES
ISPACERES
Slide 25: Appendix
ISPACERES Appendix
Slide 26: 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 27: Disclaimer
Disclaimer Information contained in this presentation represents a summary of condensed pro forma consolidated financial statements for first nine-months ended 30 September 2025 (9M 2025 Financial Statements) of Space42 PLC and its subsidiaries (Space42). This presentation does not purport to contai
Slide 28: space42.ai ir@space42.ai
space42.ai ir@space42.ai Copyright © 2024 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.