425 1 d124697d425.htm 425 425

Filing Pursuant to Rule 425

Under the Securities Act Of 1933, as amended

And deemed Filed Pursuant To Rule 14(a)-6

of the Securities Exchange Act Of 1934, as amended

Filer: NavSight Holdings, Inc.

Commission File No. 001-39493

Subject Company: NavSight Holdings, Inc.

This filing relates to the proposed merger involving NavSight Holdings, Inc. with Spire Global, Inc. pursuant to the terms of that certain Business Combination Agreement, dated as of February 28, 2021, by and among NavSight Holdings, Inc. (“NavSight”), NavSight Merger Sub Inc. and Spire Global, Inc. (“Spire”).

The following presentation was made available during an Analyst Day on June 4, 2021:


Global data and analytics For an increasingly complex and fast-moving world Spire Analyst Day PresentationGlobal data and analytics For an increasingly complex and fast-moving world Spire Analyst Day Presentation


DISCLAIMER AND FORWARD LOOKING STATEMENTS This presentation is made solely for informational purposes, and no representation or warranty, express or implied, is made by Spire Global, NavSight Holdings, Inc. (“NavSight”) or any of their representatives as to the information contained in these materials or disclosed during any related presentations or discussions. The recipient of this presentation shall keep this presentation and its contents confidential, shall not use this presentation and its contents for any purpose other than as expressly authorized by Spire Global and NavSight and shall be required to return or destroy all copies of this presentation or portions thereof in its possession promptly following request for the return or destruction of such copies. By accepting delivery of this presentation, the recipient is deemed to agree to the foregoing confidentiality requirements. This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination (the “proposed business combination”) between Spire Global and NavSight and related transactions and for no other purpose. No representations or warranties, express or implied are given in, or in respect of, this presentation. To the fullest extent permitted by law in no circumstances will Spire Global, NavSight or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, investment banks, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. 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. Neither Spire Global nor NavSight has independently verified the data obtained from these sources and cannot assure you of the data’s accuracy or completeness. This data is subject to change. In addition, this presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of Spire Global or the proposed business combination. Viewers of this presentation should each make their own evaluation of Spire Global and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. This presentation is intended solely for the purposes of familiarizing prospective investors with the company. This presentation and any oral statements made in connection with this presentation shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities, or the solicitation of any proxy, vote, consent, or approval in any jurisdiction in connection with the proposed business combination, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. To the extent the terms of any potential transaction are included in this presentation, those terms are included for discussion purposes only. This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, expectations and timing related to product launches, potential benefits of the transaction and the potential success of Spire Global’s market and growth strategies, and expectations related to the terms and timing of the proposed business combination and related transactions. These statements are based on various assumptions, whether or not identified in this presentation, and on the current expectations of Spire Global’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Spire Global and NavSight. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the stockholders of NavSight or Spire Global is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Spire Global; the effects of competition from existing and future competitors on Spire Global’s future business; technical or other difficulties with our ground stations or satellites; the ability of the company to cost-effectively acquire new customers or obtain renewals; our ability to obtain, protect or enforce our intellectual property and proprietary rights; our ability to comply with the wide range of laws and regulation, and obtain the necessary licenses, to which our business is subject; our ability to maintain our indebtedness and stay in compliance with our credit agreements; and the amount of redemption requests made by NavSight’s public stockholders; the ability of NavSight or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, and those factors discussed in NavSight’s Form 10-K/A and Form 10-Q filed on May 12, 2021 and May 24, 2021, respectively, under the heading “Risk Factors,” NavSight’s registration statement on Form S-4 (described below) under the heading “Risk Factors,” and other documents of NavSight filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither NavSight nor Spire Global presently know or that NavSight and Spire Global currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect NavSight’s and Spire Global’s expectations, plans or forecasts of future events and views as of the date of this presentation. NavSight and Spire Global anticipate that subsequent events and developments will cause NavSight’s and Spire Global’s assessments to change. However, while NavSight and Spire Global may elect to update these forward-looking statements at some point in the future, NavSight and Spire Global specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing NavSight’s and Spire Global’s assessments as of any date subsequent to the date of this presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. 2DISCLAIMER AND FORWARD LOOKING STATEMENTS This presentation is made solely for informational purposes, and no representation or warranty, express or implied, is made by Spire Global, NavSight Holdings, Inc. (“NavSight”) or any of their representatives as to the information contained in these materials or disclosed during any related presentations or discussions. The recipient of this presentation shall keep this presentation and its contents confidential, shall not use this presentation and its contents for any purpose other than as expressly authorized by Spire Global and NavSight and shall be required to return or destroy all copies of this presentation or portions thereof in its possession promptly following request for the return or destruction of such copies. By accepting delivery of this presentation, the recipient is deemed to agree to the foregoing confidentiality requirements. This presentation is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination (the “proposed business combination”) between Spire Global and NavSight and related transactions and for no other purpose. No representations or warranties, express or implied are given in, or in respect of, this presentation. To the fullest extent permitted by law in no circumstances will Spire Global, NavSight or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, investment banks, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. 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. Neither Spire Global nor NavSight has independently verified the data obtained from these sources and cannot assure you of the data’s accuracy or completeness. This data is subject to change. In addition, this presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of Spire Global or the proposed business combination. Viewers of this presentation should each make their own evaluation of Spire Global and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. This presentation is intended solely for the purposes of familiarizing prospective investors with the company. This presentation and any oral statements made in connection with this presentation shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities, or the solicitation of any proxy, vote, consent, or approval in any jurisdiction in connection with the proposed business combination, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. To the extent the terms of any potential transaction are included in this presentation, those terms are included for discussion purposes only. This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, expectations and timing related to product launches, potential benefits of the transaction and the potential success of Spire Global’s market and growth strategies, and expectations related to the terms and timing of the proposed business combination and related transactions. These statements are based on various assumptions, whether or not identified in this presentation, and on the current expectations of Spire Global’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Spire Global and NavSight. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the stockholders of NavSight or Spire Global is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Spire Global; the effects of competition from existing and future competitors on Spire Global’s future business; technical or other difficulties with our ground stations or satellites; the ability of the company to cost-effectively acquire new customers or obtain renewals; our ability to obtain, protect or enforce our intellectual property and proprietary rights; our ability to comply with the wide range of laws and regulation, and obtain the necessary licenses, to which our business is subject; our ability to maintain our indebtedness and stay in compliance with our credit agreements; and the amount of redemption requests made by NavSight’s public stockholders; the ability of NavSight or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future, and those factors discussed in NavSight’s Form 10-K/A and Form 10-Q filed on May 12, 2021 and May 24, 2021, respectively, under the heading “Risk Factors,” NavSight’s registration statement on Form S-4 (described below) under the heading “Risk Factors,” and other documents of NavSight filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither NavSight nor Spire Global presently know or that NavSight and Spire Global currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect NavSight’s and Spire Global’s expectations, plans or forecasts of future events and views as of the date of this presentation. NavSight and Spire Global anticipate that subsequent events and developments will cause NavSight’s and Spire Global’s assessments to change. However, while NavSight and Spire Global may elect to update these forward-looking statements at some point in the future, NavSight and Spire Global specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing NavSight’s and Spire Global’s assessments as of any date subsequent to the date of this presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. 2


DISCLAIMER AND FORWARD LOOKING STATEMENTS This presentation contains projected financial information with respect to Spire Global, namely [Annual Recurring Revenue Growth, Customer Net Revenue Retention, Annual Recurring Revenue, Solution Customers, Average Annual Recurring Revenue per Solution Customer, Customer Net Retention Rate, Time to Payback Customer Acquisition Cost, Average ACV Bookings per Salesperson, Non-GAAP Gross Margin, Gross Profit and Gross Profit Margin, Free Cash Flow Conversion, Total Addressable Market, Average Sales Price Growth, Adjusted EBITDA, and others.] Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this presentation, and the inclusion of such information in this presentation should not be regarded as a representation by any person that the results reflected in such projections will be achieved. Neither the independent auditors of NavSight nor the independent registered public accounting firm of Spire Global, audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. This presentation contains trademarks, service marks, trade names and copyrights of Spire Global, NavSight and other companies, which are the property of their respective owners. Some of the financial information and data contained in this presentation, such as Adjusted EBITDA have not been prepared in accordance with United States generally accepted accounting principles (“GAAP”). NavSight and Spire Global believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Spire Global’s financial condition and results of operations. NavSight and Spire Global believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Spire Global’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Spire Global’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please see the Appendix (page [36 ]) for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure for the periods presented. You should review Spire Global’s audited financial statements, which are included in the Proxy Statement (as defined below) relating to the proposed business combination (as described further below). ADDITIONAL INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT The proposed business combination will be submitted to stockholders of NavSight for their consideration. NavSight filed a registration statement on Form S-4 with the SEC on May 14, 2021, which includes a document that serves as a prospectus and proxy statement of NavSight (the “Proxy Statement”). The Proxy Statement will be distributed to NavSight’s stockholders in connection with NavSight’s solicitation for proxies for the vote by NavSight’s shareholders in connection with the proposed business combination and other matters as described in the Proxy Statement. After the Proxy Statement has been declared effective by the SEC, NavSight will mail a definitive proxy statement and other relevant documents to its stockholders as of the record date established for voting on the proposed business combination. NavSight’s stockholders and other interested persons are advised to read the definitive proxy statement in connection with NavSight’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination, because it contains important information about NavSight, Spire Global, and the proposed business combination. Stockholders may also obtain a copy of the preliminary proxy statement or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by NavSight, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Robert Coleman (phone: (571) 500-2236). INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. PARTICIPANTS IN THE SOLICITATION NavSight, Spire Global and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from NavSight’s stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of NavSight’s stockholders in connection with the proposed business combination which is set forth in the Proxy Statement. You can find more information about NavSight’s directors and executive officers in NavSight’s final prospectus filed with the SEC on September 9, 2020 and in the Proxy Statement. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are included in the Proxy Statement. Stockholders, potential investors and other interested persons should read the proxy statement carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. 3DISCLAIMER AND FORWARD LOOKING STATEMENTS This presentation contains projected financial information with respect to Spire Global, namely [Annual Recurring Revenue Growth, Customer Net Revenue Retention, Annual Recurring Revenue, Solution Customers, Average Annual Recurring Revenue per Solution Customer, Customer Net Retention Rate, Time to Payback Customer Acquisition Cost, Average ACV Bookings per Salesperson, Non-GAAP Gross Margin, Gross Profit and Gross Profit Margin, Free Cash Flow Conversion, Total Addressable Market, Average Sales Price Growth, Adjusted EBITDA, and others.] Such projected financial information constitutes forward-looking information, and is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this presentation, and the inclusion of such information in this presentation should not be regarded as a representation by any person that the results reflected in such projections will be achieved. Neither the independent auditors of NavSight nor the independent registered public accounting firm of Spire Global, audited, reviewed, compiled, or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this presentation. This presentation contains trademarks, service marks, trade names and copyrights of Spire Global, NavSight and other companies, which are the property of their respective owners. Some of the financial information and data contained in this presentation, such as Adjusted EBITDA have not been prepared in accordance with United States generally accepted accounting principles (“GAAP”). NavSight and Spire Global believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Spire Global’s financial condition and results of operations. NavSight and Spire Global believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating projected operating results and trends in and in comparing Spire Global’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in Spire Global’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please see the Appendix (page [36 ]) for a reconciliation of Adjusted EBITDA to the most directly comparable GAAP financial measure for the periods presented. You should review Spire Global’s audited financial statements, which are included in the Proxy Statement (as defined below) relating to the proposed business combination (as described further below). ADDITIONAL INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT The proposed business combination will be submitted to stockholders of NavSight for their consideration. NavSight filed a registration statement on Form S-4 with the SEC on May 14, 2021, which includes a document that serves as a prospectus and proxy statement of NavSight (the “Proxy Statement”). The Proxy Statement will be distributed to NavSight’s stockholders in connection with NavSight’s solicitation for proxies for the vote by NavSight’s shareholders in connection with the proposed business combination and other matters as described in the Proxy Statement. After the Proxy Statement has been declared effective by the SEC, NavSight will mail a definitive proxy statement and other relevant documents to its stockholders as of the record date established for voting on the proposed business combination. NavSight’s stockholders and other interested persons are advised to read the definitive proxy statement in connection with NavSight’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination, because it contains important information about NavSight, Spire Global, and the proposed business combination. Stockholders may also obtain a copy of the preliminary proxy statement or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by NavSight, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Robert Coleman (phone: (571) 500-2236). INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. PARTICIPANTS IN THE SOLICITATION NavSight, Spire Global and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from NavSight’s stockholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of NavSight’s stockholders in connection with the proposed business combination which is set forth in the Proxy Statement. You can find more information about NavSight’s directors and executive officers in NavSight’s final prospectus filed with the SEC on September 9, 2020 and in the Proxy Statement. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are included in the Proxy Statement. Stockholders, potential investors and other interested persons should read the proxy statement carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. 3


1. Welcome – Jack Pearlstein, Bob Coleman Agenda 2. Spire Business Overview – Peter Platzer 3. Spire TAM Bottoms Up – Peter Platzer 4. Spire Technology Deep Dive – Jeroen Cappaert 5. Spire Maritime Solutions and Use Cases – Theresa Condor 6. Spire Aviation Solutions and Use Cases – Theresa Condor 7. Spire Space Services and Use Cases - Theresa Condor 8. Financials – Tom Krywe 9. New Sensors and Capabilities Outlook – Peter Platzer 41. Welcome – Jack Pearlstein, Bob Coleman Agenda 2. Spire Business Overview – Peter Platzer 3. Spire TAM Bottoms Up – Peter Platzer 4. Spire Technology Deep Dive – Jeroen Cappaert 5. Spire Maritime Solutions and Use Cases – Theresa Condor 6. Spire Aviation Solutions and Use Cases – Theresa Condor 7. Spire Space Services and Use Cases - Theresa Condor 8. Financials – Tom Krywe 9. New Sensors and Capabilities Outlook – Peter Platzer 4


Spire Key Investment Highlights • High Growth SaaS Company, Powered by Proprietary, Space-based Data and Analytics Platform • Massive, Rapidly Growing Total Addressable Market • Recurring Revenue Model for Predictive Analytics and Data with Exceptional SaaS KPIs • Constellation Fully Deployed, Attractive Operating Profile, Clear Path to Profitability • Multiple Solutions across a Range of Industries, Supporting Net Zero and Climate Change Adaptation • Exceptional Management Team with Deep Domain Expertise and Staying Power 5Spire Key Investment Highlights • High Growth SaaS Company, Powered by Proprietary, Space-based Data and Analytics Platform • Massive, Rapidly Growing Total Addressable Market • Recurring Revenue Model for Predictive Analytics and Data with Exceptional SaaS KPIs • Constellation Fully Deployed, Attractive Operating Profile, Clear Path to Profitability • Multiple Solutions across a Range of Industries, Supporting Net Zero and Climate Change Adaptation • Exceptional Management Team with Deep Domain Expertise and Staying Power 5


Transaction Summary • Business combination between Spire Global, Inc. (the “Company” or “Spire”) and NavSight, a NYSE listed SPAC Transaction Structure • Transaction expected to close in Q3 2021 • Post closing, the Company will maintain the Spire Global name and will be listed on the NYSE • NavSight (NYSE: NSH) has ~$230 million cash in trust Offering Size • Raised $245 million in PIPE commitments (including $10 million from NavSight’s Sponsor) (1) • Pro forma enterprise value of ~$1.2 billion Valuation • 5.4x 2023E Revenue, representing a deep discount to peers (2) Illustrative Pro Forma • Spire stockholders are rolling 100% of their equity in the transaction; Spire founders to receive super-voting shares (10:1) (3) Capital Structure • Transaction assumes ~$408 million of cash on Spire’s balance sheet after transaction expenses • Existing Spire stockholders ~66% Illustrative Pro Forma • SPAC public stockholders ~15% Ownership Assuming No • PIPE investors(not including SPAC founders) ~15% Redemption • SPAC founders and independent directors ~ 4% (1) Excludes 8mm earnout shares issued to Spire stockholders in four equal tranches of 2mm each at share price thresholds of $13, $16, $19 and $22, and certain unvested employee stock options. (2) Dual-class common stock structure to be implemented at closing. 6 (3) Excludes the 11.5m warrants held by the SPAC stockholders and 6.6m warrants held by the SPAC sponsor. Assumes the repayment of outstanding debt and assumes no redemption of shares / cash in trust.Transaction Summary • Business combination between Spire Global, Inc. (the “Company” or “Spire”) and NavSight, a NYSE listed SPAC Transaction Structure • Transaction expected to close in Q3 2021 • Post closing, the Company will maintain the Spire Global name and will be listed on the NYSE • NavSight (NYSE: NSH) has ~$230 million cash in trust Offering Size • Raised $245 million in PIPE commitments (including $10 million from NavSight’s Sponsor) (1) • Pro forma enterprise value of ~$1.2 billion Valuation • 5.4x 2023E Revenue, representing a deep discount to peers (2) Illustrative Pro Forma • Spire stockholders are rolling 100% of their equity in the transaction; Spire founders to receive super-voting shares (10:1) (3) Capital Structure • Transaction assumes ~$408 million of cash on Spire’s balance sheet after transaction expenses • Existing Spire stockholders ~66% Illustrative Pro Forma • SPAC public stockholders ~15% Ownership Assuming No • PIPE investors(not including SPAC founders) ~15% Redemption • SPAC founders and independent directors ~ 4% (1) Excludes 8mm earnout shares issued to Spire stockholders in four equal tranches of 2mm each at share price thresholds of $13, $16, $19 and $22, and certain unvested employee stock options. (2) Dual-class common stock structure to be implemented at closing. 6 (3) Excludes the 11.5m warrants held by the SPAC stockholders and 6.6m warrants held by the SPAC sponsor. Assumes the repayment of outstanding debt and assumes no redemption of shares / cash in trust.


Spire Business Overview Peter Platzer CEOSpire Business Overview Peter Platzer CEO


88


2001, Boston “To inspire, lead, and create the business of space for the benefit of all” Personal life mission statement, Peter Platzer 92001, Boston “To inspire, lead, and create the business of space for the benefit of all” Personal life mission statement, Peter Platzer 9


2011, Strasbourg “Collect data where no one else can 24/7 to solve problems on earth” NanoGloDa, Jeroen, Joel, Peter 102011, Strasbourg “Collect data where no one else can 24/7 to solve problems on earth” NanoGloDa, Jeroen, Joel, Peter 10


2021, Earth (2) (2) ~11K ~498M Average RO Daily ADS-B Messages Profiles (2) ~276M 24/7 Daily AIS Operations Messages Support (3) Spire Global, 251 employees , 3 continents, 6 offices Source: Management as of March 31, 2021 (1) Space heritage is calculated as the sum of the years of service of all satellites launched 11 (2) In the month of March 2021 (3) As of December 31, 20202021, Earth (2) (2) ~11K ~498M Average RO Daily ADS-B Messages Profiles (2) ~276M 24/7 Daily AIS Operations Messages Support (3) Spire Global, 251 employees , 3 continents, 6 offices Source: Management as of March 31, 2021 (1) Space heritage is calculated as the sum of the years of service of all satellites launched 11 (2) In the month of March 2021 (3) As of December 31, 2020


Space-based Data, Analytics and Insights is the Next Great Frontier (1) Inspire, Lead and Create the Business of Space-based Data $52B Space-based Data and Analytics TAM (2025E) Pioneer the Space-as-a-Service Model (1) $39B Orbital Services TAM (2025E) Help Solve Some of Earth's Greatest Challenges (1) $180-300B Long-term Market Opportunity For Weather (2) Forecasting (1) Report and analysis from consulting company (2) Assumes $0.9 - $1.5 trillion of damages caused by climate change could be avoided through perfect weather forecasting and providers of perfect weather forecasts could expect to capture 20% of the value they provide to customers 12Space-based Data, Analytics and Insights is the Next Great Frontier (1) Inspire, Lead and Create the Business of Space-based Data $52B Space-based Data and Analytics TAM (2025E) Pioneer the Space-as-a-Service Model (1) $39B Orbital Services TAM (2025E) Help Solve Some of Earth's Greatest Challenges (1) $180-300B Long-term Market Opportunity For Weather (2) Forecasting (1) Report and analysis from consulting company (2) Assumes $0.9 - $1.5 trillion of damages caused by climate change could be avoided through perfect weather forecasting and providers of perfect weather forecasts could expect to capture 20% of the value they provide to customers 12


How Spire is Different – Modern SaaS Platform Enabled by Proprietary Space Technology Launch Services Telecoms Earth Observation Companies Subscription-Based Revenue Software-Driven Business Model Vertically Integrated Products and Solutions Multi-Purpose Constellation NA Yes Yes Yes Capacity Constrained? No # Launches Bandwidth Tasking Note: Based on management's assessment of each industry as a whole. Companies shown are illustrative of each industry for Investors' reference only, and each company was not necessarily included in management's assessment. 13How Spire is Different – Modern SaaS Platform Enabled by Proprietary Space Technology Launch Services Telecoms Earth Observation Companies Subscription-Based Revenue Software-Driven Business Model Vertically Integrated Products and Solutions Multi-Purpose Constellation NA Yes Yes Yes Capacity Constrained? No # Launches Bandwidth Tasking Note: Based on management's assessment of each industry as a whole. Companies shown are illustrative of each industry for Investors' reference only, and each company was not necessarily included in management's assessment. 13


Spire at a Glance 104% 145% $1.2bn • Spire collects space-based data using a proprietary (1) YoY ARR Growth Customer NRR ARR constellation of multi-purpose LEMUR nano- (2020A) (2025E) (2020A) satellites • SpireSight software analytics delivers proprietary (3) 90%+ / 80%+ 100% data, insights and predictive analytics to customers 170+ Non-GAAP Gross Margin / 2020P–2025E Revenue as a subscription Solution Customers (2) FCF Conversion (2025E) CAGR • Vertically integrated with disruptive unit (4) (4) economics 110 / 100% ~5 Terabytes $235k (3) Nanosats Launched / Average ARR per Solution Of Data Processed per • Highly technical workforce of 251 employees, Customer (2020A) Earth Coverage Day (4) including ~140 engineers and scientists Lead Investors Strategic Investors Select Customers • Founded in 2012 with ~$180 million of capital invested to-date from high quality strategic NASA partners and investors NOAA US Air Force (1) Low Earth Multi-Use Receiver (2) Non-GAAP metrics. FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA (3) As of December 31, 2020 (4) As of March 31, 2021 14Spire at a Glance 104% 145% $1.2bn • Spire collects space-based data using a proprietary (1) YoY ARR Growth Customer NRR ARR constellation of multi-purpose LEMUR nano- (2020A) (2025E) (2020A) satellites • SpireSight software analytics delivers proprietary (3) 90%+ / 80%+ 100% data, insights and predictive analytics to customers 170+ Non-GAAP Gross Margin / 2020P–2025E Revenue as a subscription Solution Customers (2) FCF Conversion (2025E) CAGR • Vertically integrated with disruptive unit (4) (4) economics 110 / 100% ~5 Terabytes $235k (3) Nanosats Launched / Average ARR per Solution Of Data Processed per • Highly technical workforce of 251 employees, Customer (2020A) Earth Coverage Day (4) including ~140 engineers and scientists Lead Investors Strategic Investors Select Customers • Founded in 2012 with ~$180 million of capital invested to-date from high quality strategic NASA partners and investors NOAA US Air Force (1) Low Earth Multi-Use Receiver (2) Non-GAAP metrics. FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA (3) As of December 31, 2020 (4) As of March 31, 2021 14


The Space-based Data, Analytics and Orbital Services Markets are Large and Rapidly Expanding Factors Driving Market Growth and Spire’s Addressable Market and Opportunity Expansion Long-term • Significant, growing demand for space-based data, Opportunity driven by rapidly growing adoption of data and (1) Spire’s TAM $180 - $300bn analytics • Advancements in AI/ML and Big Data analytics are 8% CAGR $91bn increasingly essential in solving some of the world’s most complex business challenges $8 $66bn • Rapidly expanding number of use cases and business $22 models leveraging space-based data, insights and $4 analytics across industries $15 $22 • Opportunity for weather forecasting today is a $14 fraction of its full potential: weather variability creates ~$3 trillion of economic loss per year, which $39 is expected to grow 60%+ by 2050 as a result of $33 climate change 2021E 2021E 2025E 2021E 2025E Source: Report and analysis from consulting company (1) Assumes $0.9 - $1.5 trillion of damages caused by climate change could be avoided through perfect weather forecasting and providers of perfect Weather weather forecasts could expect to capture 20% of the value they provide to customers Orbital Services Aviation Forecasting Weather Maritime 15The Space-based Data, Analytics and Orbital Services Markets are Large and Rapidly Expanding Factors Driving Market Growth and Spire’s Addressable Market and Opportunity Expansion Long-term • Significant, growing demand for space-based data, Opportunity driven by rapidly growing adoption of data and (1) Spire’s TAM $180 - $300bn analytics • Advancements in AI/ML and Big Data analytics are 8% CAGR $91bn increasingly essential in solving some of the world’s most complex business challenges $8 $66bn • Rapidly expanding number of use cases and business $22 models leveraging space-based data, insights and $4 analytics across industries $15 $22 • Opportunity for weather forecasting today is a $14 fraction of its full potential: weather variability creates ~$3 trillion of economic loss per year, which $39 is expected to grow 60%+ by 2050 as a result of $33 climate change 2021E 2021E 2025E 2021E 2025E Source: Report and analysis from consulting company (1) Assumes $0.9 - $1.5 trillion of damages caused by climate change could be avoided through perfect weather forecasting and providers of perfect Weather weather forecasts could expect to capture 20% of the value they provide to customers Orbital Services Aviation Forecasting Weather Maritime 15


Spire Transforms Proprietary Data into Value-added Insights and Predictive Analytics AI / ML / Proprietary Algorithms rd 3 Party Data Collect Once Sell Many Times Lemur Clean Smart SpireSight Data Data API Clean and structured Clean data fused with Apply algorithms to data directly off rd 3 party datasets and fused data sets to Spire’s proprietary proprietary analysis to create predictive nanosats enhance value and analytics and insights provide insights Spire Collects Data from Space One Time and Can Sell it an Unlimited Number of Times 16Spire Transforms Proprietary Data into Value-added Insights and Predictive Analytics AI / ML / Proprietary Algorithms rd 3 Party Data Collect Once Sell Many Times Lemur Clean Smart SpireSight Data Data API Clean and structured Clean data fused with Apply algorithms to data directly off rd 3 party datasets and fused data sets to Spire’s proprietary proprietary analysis to create predictive nanosats enhance value and analytics and insights provide insights Spire Collects Data from Space One Time and Can Sell it an Unlimited Number of Times 16


Spire Monetizes Proprietary Solutions Across a Broad and Growing Range of Industries MARITIME AVIATION WEATHER ORBITAL SERVICES Precise space-based data, insights Precise space-based data, insights Precise space-based data, insights Leverage Spire’s proven, low risk and predictive analytics used for and predictive analytics used for and predictive analytics used for development lifecycle and highly accurate ship monitoring, highly accurate aircraft monitoring, highly accurate weather forecasting proprietary infrastructure to ship safety and route optimization safety and route optimization provide “Space-as-a-Service” Current and Target Industries Aerospace Agriculture Automotive Aviation Construction Govt. Govt. Academia Energy Fishing (Civilian) (Defense) Financial Insurance Logistics Maritime Mining Oil & Gas Real Estate Scientific Telecom / Transportation Services Research IoT 17Spire Monetizes Proprietary Solutions Across a Broad and Growing Range of Industries MARITIME AVIATION WEATHER ORBITAL SERVICES Precise space-based data, insights Precise space-based data, insights Precise space-based data, insights Leverage Spire’s proven, low risk and predictive analytics used for and predictive analytics used for and predictive analytics used for development lifecycle and highly accurate ship monitoring, highly accurate aircraft monitoring, highly accurate weather forecasting proprietary infrastructure to ship safety and route optimization safety and route optimization provide “Space-as-a-Service” Current and Target Industries Aerospace Agriculture Automotive Aviation Construction Govt. Govt. Academia Energy Fishing (Civilian) (Defense) Financial Insurance Logistics Maritime Mining Oil & Gas Real Estate Scientific Telecom / Transportation Services Research IoT 17


Spire’s Proprietary Technology Stack is Proven, at Scale, and Fully Operational Spire LEMUR Constellation Spire Data Platform SpireSight Software Analytics Weather API TT&C / Data Links LEMUR Aviation API AUTOMATED DATA SECURE DATA Sp Spiir re eSi Sig gh ht t PROCESSING REPOSITORY Maritime Dedicated FANS API VPN API Orbital Services API Spire Ground Stations Collects space-based data and transmits to a Data moved from ground stations to proprietary Customers receive proprietary data delivered proprietary ground station network data store for cleansing, standardization, fusion, seamlessly, in real-time via SpireSight API and analysis — all without a human in the loop 1,600+ ~99.9% ~1 Terabyte (1) (2) (1) Average Contacts / Day on Average System Uptime Data Served to Customers / Day (1) As of March 2021 (2) From December 2020 to February 2021 18Spire’s Proprietary Technology Stack is Proven, at Scale, and Fully Operational Spire LEMUR Constellation Spire Data Platform SpireSight Software Analytics Weather API TT&C / Data Links LEMUR Aviation API AUTOMATED DATA SECURE DATA Sp Spiir re eSi Sig gh ht t PROCESSING REPOSITORY Maritime Dedicated FANS API VPN API Orbital Services API Spire Ground Stations Collects space-based data and transmits to a Data moved from ground stations to proprietary Customers receive proprietary data delivered proprietary ground station network data store for cleansing, standardization, fusion, seamlessly, in real-time via SpireSight API and analysis — all without a human in the loop 1,600+ ~99.9% ~1 Terabyte (1) (2) (1) Average Contacts / Day on Average System Uptime Data Served to Customers / Day (1) As of March 2021 (2) From December 2020 to February 2021 18


Spire’s Fully Integrated Model Drives Meaningful Competitive Advantages • 100% in-house to improve quality and rapidly increase LEMUR Nanosatellite capabilities Design & Assembly • Drives down unit production costs • Rapid production: capable of one every ~two days Software-defined Satellite • Repurpose sensors and constellation on-orbit Architecture (2) (2) ~11K ~498M • SpireSight data, algorithms and models, and a world- Average RO Daily ADS-B SpireSight Software class workforce that possesses the scarce / esoteric skill Profiles Messages Analytics sets to generate bespoke predictive analytics and solutions for customers (2) • Ability to process multi-sensor data sets on-orbit ~276M On-Orbit Edge Processing • Reduces bandwidth requirements, improves delivery 24/7 Daily AIS speeds, and increases flexibility and autonomy Operations Messages Support • Enhances system resiliency and security Proprietary Ground • Accelerates collection-to-delivery, provides operational Station Network flexibility and foundation for Space-as-a-Service • Maintain ~20 domestic, regional, and international Global Licenses licenses for space and ground-stations that are difficult to replicate and widen the competitive moat Source: Management as of March 31, 2021 (1) Space heritage is calculated as the sum of the years of service of all satellites launched (2) In the month of March 2021 19Spire’s Fully Integrated Model Drives Meaningful Competitive Advantages • 100% in-house to improve quality and rapidly increase LEMUR Nanosatellite capabilities Design & Assembly • Drives down unit production costs • Rapid production: capable of one every ~two days Software-defined Satellite • Repurpose sensors and constellation on-orbit Architecture (2) (2) ~11K ~498M • SpireSight data, algorithms and models, and a world- Average RO Daily ADS-B SpireSight Software class workforce that possesses the scarce / esoteric skill Profiles Messages Analytics sets to generate bespoke predictive analytics and solutions for customers (2) • Ability to process multi-sensor data sets on-orbit ~276M On-Orbit Edge Processing • Reduces bandwidth requirements, improves delivery 24/7 Daily AIS speeds, and increases flexibility and autonomy Operations Messages Support • Enhances system resiliency and security Proprietary Ground • Accelerates collection-to-delivery, provides operational Station Network flexibility and foundation for Space-as-a-Service • Maintain ~20 domestic, regional, and international Global Licenses licenses for space and ground-stations that are difficult to replicate and widen the competitive moat Source: Management as of March 31, 2021 (1) Space heritage is calculated as the sum of the years of service of all satellites launched (2) In the month of March 2021 19


Spire’s Multi-product Offering Positions it to Cross-sell to Customers Use Case Examples Characteristics • Tracking vessels around the globe Satellite Global coverage, in remote AIS Data • Optimizing fuel efficiencies areas where terrestrial AIS and ADS-B are out of reach • Monitoring illegal activities and compliances • Analyzing commodity trading • Regulatory compliance We believe we are Fast, real time data with • Flight tracking low latency Satellite the only player • Estimated time of arrival and on-time performance collecting all ADS-B three datasets • Overflight fee globally and Easy integration into • Search and rescue customers’ existing models simultaneously to • Smart premium and data systems combine them into its solutions • Corporate intelligence • Protect physical assets like power lines from storm damage RO Weather Data • Maximize crop yields with optimal farm operations based High resolution and large on weather volume of global data • Minimize losses and enhance customer experience in insurance with advanced warning systems of inclement weather 20Spire’s Multi-product Offering Positions it to Cross-sell to Customers Use Case Examples Characteristics • Tracking vessels around the globe Satellite Global coverage, in remote AIS Data • Optimizing fuel efficiencies areas where terrestrial AIS and ADS-B are out of reach • Monitoring illegal activities and compliances • Analyzing commodity trading • Regulatory compliance We believe we are Fast, real time data with • Flight tracking low latency Satellite the only player • Estimated time of arrival and on-time performance collecting all ADS-B three datasets • Overflight fee globally and Easy integration into • Search and rescue customers’ existing models simultaneously to • Smart premium and data systems combine them into its solutions • Corporate intelligence • Protect physical assets like power lines from storm damage RO Weather Data • Maximize crop yields with optimal farm operations based High resolution and large on weather volume of global data • Minimize losses and enhance customer experience in insurance with advanced warning systems of inclement weather 20


Spire's Rapid Growth Rate is Driven by Considerable Upsell Blue Chip Customer Base Best-in-Class SaaS Metrics Average ARR per Customer Growth ($ in thousands) Australian Office of 11% CAGR National Intelligence $258 104% $235 ARR Growth $208 (2020A) 2019A 2020A 2021E NASA 145%+ Avg. ACV Bookings / Salesperson Customer Net Retention NOAA Rate (2020A) ($ in millions) 16% CAGR $2.8 $2.4 US Coast US Air <7 Months $2.0 Guard Force Time to Payback Customer Acquisition Cost (2020A) (1) 170+ / ~30 Customers / Countries 2019A 2020A 2021E (1) As of March 31, 2021 21Spire's Rapid Growth Rate is Driven by Considerable Upsell Blue Chip Customer Base Best-in-Class SaaS Metrics Average ARR per Customer Growth ($ in thousands) Australian Office of 11% CAGR National Intelligence $258 104% $235 ARR Growth $208 (2020A) 2019A 2020A 2021E NASA 145%+ Avg. ACV Bookings / Salesperson Customer Net Retention NOAA Rate (2020A) ($ in millions) 16% CAGR $2.8 $2.4 US Coast US Air <7 Months $2.0 Guard Force Time to Payback Customer Acquisition Cost (2020A) (1) 170+ / ~30 Customers / Countries 2019A 2020A 2021E (1) As of March 31, 2021 21


Spire Has a Multi-pronged Growth Strategy Accelerate Market Capture with Investment in Sales, Marketing and Product Development § Hire Additional Sales Personnel, Increase External Marketing and Drive Product Development for Further Upsell Expand Into New Geographies and Verticals § Establish Presence in Latin America and Middle East; Increase Presence in Existing Geographies Expand Proprietary Data Sets and SpireSight Analytics Engine § Soil Moisture, Ionosphere, RF Monitoring, Spectrum Monitoring, EO/SAR Data Fusion, AI/ML for Weather Extend Capabilities through M&A rd § Acquire 3 Party Data Providers, Cutting Edge Software Capabilities 22Spire Has a Multi-pronged Growth Strategy Accelerate Market Capture with Investment in Sales, Marketing and Product Development § Hire Additional Sales Personnel, Increase External Marketing and Drive Product Development for Further Upsell Expand Into New Geographies and Verticals § Establish Presence in Latin America and Middle East; Increase Presence in Existing Geographies Expand Proprietary Data Sets and SpireSight Analytics Engine § Soil Moisture, Ionosphere, RF Monitoring, Spectrum Monitoring, EO/SAR Data Fusion, AI/ML for Weather Extend Capabilities through M&A rd § Acquire 3 Party Data Providers, Cutting Edge Software Capabilities 22


Expanding Spire's Proprietary Data Sets Will Help Drive Better Insights, Increased Competitive Advantage and Additional Revenue Opportunities Current Future Automation Identification System (AIS) Soil Moisture Ionosphere Microwave EO / SAR RF Signal Spectrum Sounding Data Fusion Geolocation Monitoring RO Significantly Expands US Government, DoD and Intel Community Footprint ADS-B 23Expanding Spire's Proprietary Data Sets Will Help Drive Better Insights, Increased Competitive Advantage and Additional Revenue Opportunities Current Future Automation Identification System (AIS) Soil Moisture Ionosphere Microwave EO / SAR RF Signal Spectrum Sounding Data Fusion Geolocation Monitoring RO Significantly Expands US Government, DoD and Intel Community Footprint ADS-B 23


Spire’s TAM Assessment A detailed bottom-up approach Peter Platzer CEOSpire’s TAM Assessment A detailed bottom-up approach Peter Platzer CEO


Leveraged a Broad Expert Network Across Industries Snapshot 50+ external expert interviews Across over 20 industries 20+ Partners & Senior Partners Engaged to pressure test use cases, assumptions, and sizing approach 75+ market and industry reports leveraged In triangulating data points and understanding trends 25Leveraged a Broad Expert Network Across Industries Snapshot 50+ external expert interviews Across over 20 industries 20+ Partners & Senior Partners Engaged to pressure test use cases, assumptions, and sizing approach 75+ market and industry reports leveraged In triangulating data points and understanding trends 25


Identified At Least 175 Major Use Cases and Over 200,000 Customers Offerings Clean Smart Predictive Selected examples data data analytics Solutions Real time tracking of aircrafts to optimize fuel Aviation 50+ consumption by choosing the most efficient route Tracking of illegal fishing vessels to protect the Maritime 55+ environment and the livelihoods of legal fishermen Advanced warning systems in the Insurance industry Weather 55+ that alert policy holders to upcoming weather issues, increasing custom satisfaction and reducing claims Using nanosatellites equipped with specialized Orbital 15+ application groups communications payloads capable of bi-directional services communication with IoT terminals on the ground 26 Markets Identified At Least 175 Major Use Cases and Over 200,000 Customers Offerings Clean Smart Predictive Selected examples data data analytics Solutions Real time tracking of aircrafts to optimize fuel Aviation 50+ consumption by choosing the most efficient route Tracking of illegal fishing vessels to protect the Maritime 55+ environment and the livelihoods of legal fishermen Advanced warning systems in the Insurance industry Weather 55+ that alert policy holders to upcoming weather issues, increasing custom satisfaction and reducing claims Using nanosatellites equipped with specialized Orbital 15+ application groups communications payloads capable of bi-directional services communication with IoT terminals on the ground 26 Markets


S-AIS, ADS-B, and Radio Occultation are the Data Building Blocks to Unlock Value Currently, Spire is the only player collecting all three datasets simultaneously to combine them into its solutions Use cases examples Characteristics Ÿ Tracking vessels around the globe Satellite AIS data Global coverage, in remote areas where Ÿ Optimizing fuel efficiencies T-AIS and terrestrial ADS-B are out of reach Ÿ Monitoring illegal activities and compliances Ÿ Analyzing commodity trading Fast, real time data with low latency Ÿ Regulatory compliance Satellite ADS-B Ÿ Flight tracking Ÿ Estimated time of arrival (ETA) and on-time performance (OTP) Ÿ Overflight fee Ÿ Search and Rescue Easy integration into customers’ existing Ÿ Smart Premium models and data systems Ÿ Corporate intelligence Ÿ Protect physical assets like power lines from storm damage RO weather data High resolution and large volume of Ÿ Maximize crop yields with optimal farm operations based on weather global data Ÿ Minimize losses and enhance customer experience in insurance with advanced warning systems of inclement weather 27 Source: Interviews with industry expertsS-AIS, ADS-B, and Radio Occultation are the Data Building Blocks to Unlock Value Currently, Spire is the only player collecting all three datasets simultaneously to combine them into its solutions Use cases examples Characteristics Ÿ Tracking vessels around the globe Satellite AIS data Global coverage, in remote areas where Ÿ Optimizing fuel efficiencies T-AIS and terrestrial ADS-B are out of reach Ÿ Monitoring illegal activities and compliances Ÿ Analyzing commodity trading Fast, real time data with low latency Ÿ Regulatory compliance Satellite ADS-B Ÿ Flight tracking Ÿ Estimated time of arrival (ETA) and on-time performance (OTP) Ÿ Overflight fee Ÿ Search and Rescue Easy integration into customers’ existing Ÿ Smart Premium models and data systems Ÿ Corporate intelligence Ÿ Protect physical assets like power lines from storm damage RO weather data High resolution and large volume of Ÿ Maximize crop yields with optimal farm operations based on weather global data Ÿ Minimize losses and enhance customer experience in insurance with advanced warning systems of inclement weather 27 Source: Interviews with industry experts


Spire is Unique in that it is Active Across the Full Value Chain from Collecting Raw Data to Developing Advanced Analytics and Solutions Range of data offerings Value chain for data offerings Solutions Tailoring solutions that may incorporate analytics, visualization, hardware and Solutions consulting and advisory services The picture can't be displayed. “What you should do” Predictive Predictive Adding proprietary analytics on top of Analytics Analytics smart data to predict future outcomes Smart “What will happen” Value Data The picture can't be displayed. Smart Data Combining Clean Data with 3rd party data Clean sets to identify trends and generate Data insights Clean Data Delivering raw data collected from satellites including, ADS-B, S-AIS, Radio Occultation, and more “What is happening” Complexity 28 Source: Interviews with 30+ experts for Aviation IndustrySpire is Unique in that it is Active Across the Full Value Chain from Collecting Raw Data to Developing Advanced Analytics and Solutions Range of data offerings Value chain for data offerings Solutions Tailoring solutions that may incorporate analytics, visualization, hardware and Solutions consulting and advisory services The picture can't be displayed. “What you should do” Predictive Predictive Adding proprietary analytics on top of Analytics Analytics smart data to predict future outcomes Smart “What will happen” Value Data The picture can't be displayed. Smart Data Combining Clean Data with 3rd party data Clean sets to identify trends and generate Data insights Clean Data Delivering raw data collected from satellites including, ADS-B, S-AIS, Radio Occultation, and more “What is happening” Complexity 28 Source: Interviews with 30+ experts for Aviation Industry


Example: Maritime Maritime is Lagging Behind on the Digital Maturity Curve Travel Airlines Foodservice $1.9Tn 3-6% CAGR distributors Tipping point 3PL and trucking Maritime companies Mainstream customers adopt (Shipping and ports) Rail and urban transit Advanced incumbents start adapting to the new model Early adopters start embracing the new models Innovative start-ups create disruptive New trends emerge business models Travel, transport and logistics industry digital maturity curve 29Example: Maritime Maritime is Lagging Behind on the Digital Maturity Curve Travel Airlines Foodservice $1.9Tn 3-6% CAGR distributors Tipping point 3PL and trucking Maritime companies Mainstream customers adopt (Shipping and ports) Rail and urban transit Advanced incumbents start adapting to the new model Early adopters start embracing the new models Innovative start-ups create disruptive New trends emerge business models Travel, transport and logistics industry digital maturity curve 29


Example: Maritime Maritime TAM Worth ~$4B and Growing at 14% Estimated Maritime TAM CAGR Tailoring solutions that may incorporate Solutions analytics, visualization, hardware and $B 2021-25 consulting and advisory services Application: Berth Planning, Port +14% p.a. Optimization, fuel optimization $6.7 Adding proprietary analytics on top of Predictive $2.7 Solutions 18% smart data to predict future outcomes $4.0 Analytics Predictive 14% Application: estimated time of arrival $1.2 $1.4 Analytics (ETA) and weather routing $0.7 13% $1.9 Smart Data $1.2 Fusing Clean Data with 3rd party data Smart Clean Data $0.9 7% $0.7 sets in a smart way Data 2021 2025 Application: vessel tracking ~$1B enabled by weather forecast solutions to: Raw AIS data (Maritime, Satellite and Clean Run operations efficiently and safely (0.6B) Dynamic) Data Application: feed application services Deliver value added recommendations: e.g., fuel optimization, providers (ASPs) solutions berth planning (0.4B) 30 Source: Consulting Company TAM Model, Expert Interviews and Industry ReportsExample: Maritime Maritime TAM Worth ~$4B and Growing at 14% Estimated Maritime TAM CAGR Tailoring solutions that may incorporate Solutions analytics, visualization, hardware and $B 2021-25 consulting and advisory services Application: Berth Planning, Port +14% p.a. Optimization, fuel optimization $6.7 Adding proprietary analytics on top of Predictive $2.7 Solutions 18% smart data to predict future outcomes $4.0 Analytics Predictive 14% Application: estimated time of arrival $1.2 $1.4 Analytics (ETA) and weather routing $0.7 13% $1.9 Smart Data $1.2 Fusing Clean Data with 3rd party data Smart Clean Data $0.9 7% $0.7 sets in a smart way Data 2021 2025 Application: vessel tracking ~$1B enabled by weather forecast solutions to: Raw AIS data (Maritime, Satellite and Clean Run operations efficiently and safely (0.6B) Dynamic) Data Application: feed application services Deliver value added recommendations: e.g., fuel optimization, providers (ASPs) solutions berth planning (0.4B) 30 Source: Consulting Company TAM Model, Expert Interviews and Industry Reports


Example: Maritime Growth in the TAM Varies Depending on the End User Growth Rate and Estimated Increased Usage of Data Over Time % of TAM CAGR 1 End-users 2021 TAM ($ million, %) Total 2020-25 (%) Adoption level 13% 18% Shipping Lines $518 MDA $512 13% 15% Maritime facilities $488 12% 17% $396 10% 12% Financial Services Logistcs and Supply $344 9% 14% 8% ASP $338 8% Legal fishing $320 8% 18% Ship Managers/Operators $312 8% 9% $116 3% 7% Off Shore Ship Owners $111 3% 5% Commodity traders/cargo owners $94 2% 10% Broker/freight forwarder $28 1% 9% Others $400 10% 14% NA Total Maritime TAM ~$4.0B 100% 14% 1. Average adoption level of AIS and maritime weather products across the different use cases each end-user has 31 Source: Interviews with 30+ experts for Shipping & PortsExample: Maritime Growth in the TAM Varies Depending on the End User Growth Rate and Estimated Increased Usage of Data Over Time % of TAM CAGR 1 End-users 2021 TAM ($ million, %) Total 2020-25 (%) Adoption level 13% 18% Shipping Lines $518 MDA $512 13% 15% Maritime facilities $488 12% 17% $396 10% 12% Financial Services Logistcs and Supply $344 9% 14% 8% ASP $338 8% Legal fishing $320 8% 18% Ship Managers/Operators $312 8% 9% $116 3% 7% Off Shore Ship Owners $111 3% 5% Commodity traders/cargo owners $94 2% 10% Broker/freight forwarder $28 1% 9% Others $400 10% 14% NA Total Maritime TAM ~$4.0B 100% 14% 1. Average adoption level of AIS and maritime weather products across the different use cases each end-user has 31 Source: Interviews with 30+ experts for Shipping & Ports


Example: Maritime Many Use Cases Across the Maritime Space, Which Require Different Type of AIS and Maritime Weather Data – At least 58 to Start With Deep-dive to follow Clean Smart Pred. Clean Smart Pred. End-user # | Use Case Data Data Analy. Solutions End-user # | Use Case Data Data Analy. Solutions 1 AIS data Brokers/freight 30 Chartering Procedures ASP forwarder 2 Optimized weather forecast Commodity 31 Track Cargo 3 Vessel tracking traders/ 32 Trade analysis cargo owners 4 Arrival estimates 33 Vessel tracking 5 Berth planning 34 Container tracking Logistics and 6 Port optimization Global Supply Marine Facilities 35 Carbon tracking 7 Optimized weather forecast 36 Track temperature and location 8 Port performance/benchmark 37 Fleet tracking 9 Dark vessels 38 Off-shore asset surveillance 10 Disaster response Off-shore 39 Undersea web cable maintenance 11 Vessel tracking 40 Optimized weather forecast 12 Carbon emission 41 Fishing boat tracking Ship Owners 13 Commercial optimization 42 Carbon tracking 14 Compliances reports (e.g., for the IMO) Legal Fishing 43 Bunker, carbon, fuel optimization 15 Optimized weather forecast 44 Disaster response 16 Vessel tracking 45 Optimized weather forecast 17 Bunker fuel optimization / weather routing Financial Services, 46 Cargo Finance - Compliance assessment & tracking 18 Arrival estimates Insurances / 47 Ship Finance Commodity 19 Carbon tracking traders 48 Smart premiums Ship operators 20 Disaster response (Charterers) 49 Illegal fishing (INDNR) 21 Competitive insights 50 Fisheries management 22 Strategic network (re)design 51 Dark vessels 23 Rapid Network Evolution 52 SAR / Maritime Safety Authority 24 Optimized weather forecast 53 Piracy surveillance MDA 25 Vessel tracking 54 Foreign / Warfare intelligence 26 Disaster response Shipping 55 Optimized weather forecast Managers 27 Bunker fuel optimization / weather routing 56 Environmental monitoring (e.g., waste management) 28 Optimized weather forecast 57 Vessel tracking Brokers/freight 29 Vessel tracking 58 Artic surveillance forwarder 32 Source: Interviews with 30+ experts for Shipping & PortsExample: Maritime Many Use Cases Across the Maritime Space, Which Require Different Type of AIS and Maritime Weather Data – At least 58 to Start With Deep-dive to follow Clean Smart Pred. Clean Smart Pred. End-user # | Use Case Data Data Analy. Solutions End-user # | Use Case Data Data Analy. Solutions 1 AIS data Brokers/freight 30 Chartering Procedures ASP forwarder 2 Optimized weather forecast Commodity 31 Track Cargo 3 Vessel tracking traders/ 32 Trade analysis cargo owners 4 Arrival estimates 33 Vessel tracking 5 Berth planning 34 Container tracking Logistics and 6 Port optimization Global Supply Marine Facilities 35 Carbon tracking 7 Optimized weather forecast 36 Track temperature and location 8 Port performance/benchmark 37 Fleet tracking 9 Dark vessels 38 Off-shore asset surveillance 10 Disaster response Off-shore 39 Undersea web cable maintenance 11 Vessel tracking 40 Optimized weather forecast 12 Carbon emission 41 Fishing boat tracking Ship Owners 13 Commercial optimization 42 Carbon tracking 14 Compliances reports (e.g., for the IMO) Legal Fishing 43 Bunker, carbon, fuel optimization 15 Optimized weather forecast 44 Disaster response 16 Vessel tracking 45 Optimized weather forecast 17 Bunker fuel optimization / weather routing Financial Services, 46 Cargo Finance - Compliance assessment & tracking 18 Arrival estimates Insurances / 47 Ship Finance Commodity 19 Carbon tracking traders 48 Smart premiums Ship operators 20 Disaster response (Charterers) 49 Illegal fishing (INDNR) 21 Competitive insights 50 Fisheries management 22 Strategic network (re)design 51 Dark vessels 23 Rapid Network Evolution 52 SAR / Maritime Safety Authority 24 Optimized weather forecast 53 Piracy surveillance MDA 25 Vessel tracking 54 Foreign / Warfare intelligence 26 Disaster response Shipping 55 Optimized weather forecast Managers 27 Bunker fuel optimization / weather routing 56 Environmental monitoring (e.g., waste management) 28 Optimized weather forecast 57 Vessel tracking Brokers/freight 29 Vessel tracking 58 Artic surveillance forwarder 32 Source: Interviews with 30+ experts for Shipping & Ports


~$91B Addressable Market in 2025 (8% CAGR) 2021-2025 TAM across Key drivers of growth application types, ($B) Maritime Aviation CAGR, % +8% p.a. Higher penetration of S-AIS technology Increasing adoption of satellite ADS-B as $91 across the stake holders a service for ANPS globally $8 14% Increasing imports to meet growing New government regulations requiring domestic demand, largely through marine used of ADS-B to ensure precise flight 10% $22 $66 transportation of goods from Asia tracking with faster refresh rates $4 $15 $22 12% Weather Orbital Services $14 Growth in the renewable energy industry to Increasing private investment in the dramatically increase demand for accurate fledgling space economy and emergence mid-term weather forecasting and data of new application areas $39 4% $33 Accelerating impact of weather on GDP due to climate change 2021 2025 33 Source: Interviews with industry experts, market research reports, news articles, company public filings (more details sources provided in presentation sections for maritime, aviation, weather, and orbital services.~$91B Addressable Market in 2025 (8% CAGR) 2021-2025 TAM across Key drivers of growth application types, ($B) Maritime Aviation CAGR, % +8% p.a. Higher penetration of S-AIS technology Increasing adoption of satellite ADS-B as $91 across the stake holders a service for ANPS globally $8 14% Increasing imports to meet growing New government regulations requiring domestic demand, largely through marine used of ADS-B to ensure precise flight 10% $22 $66 transportation of goods from Asia tracking with faster refresh rates $4 $15 $22 12% Weather Orbital Services $14 Growth in the renewable energy industry to Increasing private investment in the dramatically increase demand for accurate fledgling space economy and emergence mid-term weather forecasting and data of new application areas $39 4% $33 Accelerating impact of weather on GDP due to climate change 2021 2025 33 Source: Interviews with industry experts, market research reports, news articles, company public filings (more details sources provided in presentation sections for maritime, aviation, weather, and orbital services.


Data and Advanced Analytics Unlocking Value Across Industries From Space to Land, From Air to Water Impact of improved data and analytics What industry experts are saying Surprise weather events impact 3% of global GDP It’s critical to forecast the weather over the Weather ($3Tn across industries) and this is expected to grow to next two weeks to predict energy production and 5 5% due to climate change protect your margins when selling into the grid Aviation stake holders were blind of what was Satellite ADS-B surveillance data …democratizing Aviation happening in >70% of global aerospace until space- aerospace safety and security, providing a based ADS-B reliable and affordable layer of surveillance information to countries with inadequate ground- 3 based infrastructure Fuel optimization solutions enable shipping companies Satellite AIS data merged with advanced analytics Maritime 4 to reduce 5% fuel consumption using S-AIS and is disrupting the industry. Until now, we had satellite weather been managing ports and terminals the same 5 way as a century ago Demand for data is growing at an exponential rate, In the same way that every company today is a Space while the cost of access to space is falling by orders technology company, the companies of 1 2 of magnitude tomorrow will all be space companies 1. Morgan Stanley Equity Research 2. 2020 Q4 space investment quarterly 3. Former C-Suite Executive at ADS-B data provider 4. Chief of Operation at International Shipping Line 5. C-Suite Executive at a Port Authority 6. Chief engineering at a wind farm operator 34 Source: Morgan Stanley Equity Research, World Economic Forum, U.S. Economic Sensitivity to Weather Variability – Lazo et al (2011)Data and Advanced Analytics Unlocking Value Across Industries From Space to Land, From Air to Water Impact of improved data and analytics What industry experts are saying Surprise weather events impact 3% of global GDP It’s critical to forecast the weather over the Weather ($3Tn across industries) and this is expected to grow to next two weeks to predict energy production and 5 5% due to climate change protect your margins when selling into the grid Aviation stake holders were blind of what was Satellite ADS-B surveillance data …democratizing Aviation happening in >70% of global aerospace until space- aerospace safety and security, providing a based ADS-B reliable and affordable layer of surveillance information to countries with inadequate ground- 3 based infrastructure Fuel optimization solutions enable shipping companies Satellite AIS data merged with advanced analytics Maritime 4 to reduce 5% fuel consumption using S-AIS and is disrupting the industry. Until now, we had satellite weather been managing ports and terminals the same 5 way as a century ago Demand for data is growing at an exponential rate, In the same way that every company today is a Space while the cost of access to space is falling by orders technology company, the companies of 1 2 of magnitude tomorrow will all be space companies 1. Morgan Stanley Equity Research 2. 2020 Q4 space investment quarterly 3. Former C-Suite Executive at ADS-B data provider 4. Chief of Operation at International Shipping Line 5. C-Suite Executive at a Port Authority 6. Chief engineering at a wind farm operator 34 Source: Morgan Stanley Equity Research, World Economic Forum, U.S. Economic Sensitivity to Weather Variability – Lazo et al (2011)


The TAM Today for Weather Data and Solutions Is Just A Fraction Of The Future Opportunity 1,2 Full opportunity for weather forecasting can be as large as $180-300B ~$3Tn economic loss due to weather variability (~3% global GDP), estimated to grow by 66% Weather impact on GDP in (~5% of global GDP) by 2050 as climate change 2050 due to climate change is expected to worsen Variation on global GDP Costs to mitigate the impact of weather 1 due to weather today: $3T estimated to be 50-70% of total damages avoided Impact on GDP after costs to mitigate ~$0.9-1.5Tn could be avoided through perfect weather: $0.9-1.5T weather forecasting Market for perfect Market for perfect weather data, analytics, weather and solutions could be worth $300B (assuming forecasts: 2 the ability of capturing 20% of the value $180-300B generated) 1. Assumes it would cost 50%-70 of the variation in GDP to mitigate weather impact by increasing economic inputs like capital, labor, energy, etc. based on examples use cases across industries such as storm proofing utilities and mitigating wildfires. 2. Assumes providers of perfect weather forecasts could expect to capture 20% of the value they provide to customers. Values ranging from 10-30% are seen across other industries depending on fragmentation of providers. 35 Source: report from Global Consulting CompanyThe TAM Today for Weather Data and Solutions Is Just A Fraction Of The Future Opportunity 1,2 Full opportunity for weather forecasting can be as large as $180-300B ~$3Tn economic loss due to weather variability (~3% global GDP), estimated to grow by 66% Weather impact on GDP in (~5% of global GDP) by 2050 as climate change 2050 due to climate change is expected to worsen Variation on global GDP Costs to mitigate the impact of weather 1 due to weather today: $3T estimated to be 50-70% of total damages avoided Impact on GDP after costs to mitigate ~$0.9-1.5Tn could be avoided through perfect weather: $0.9-1.5T weather forecasting Market for perfect Market for perfect weather data, analytics, weather and solutions could be worth $300B (assuming forecasts: 2 the ability of capturing 20% of the value $180-300B generated) 1. Assumes it would cost 50%-70 of the variation in GDP to mitigate weather impact by increasing economic inputs like capital, labor, energy, etc. based on examples use cases across industries such as storm proofing utilities and mitigating wildfires. 2. Assumes providers of perfect weather forecasts could expect to capture 20% of the value they provide to customers. Values ranging from 10-30% are seen across other industries depending on fragmentation of providers. 35 Source: report from Global Consulting Company


Small Sats Carry Exponentially Increasing Capabilities Capability per Kilogram increases up to 10x every 5 years Bandwidth available Power available Memory available Nanosatellites present on cube satellites on cube satellites on cube satellites major advantages Mbit W GB including: Ÿ reduced cost and 12 120 1,200 accelerated 100 1,000 10 development timelines 10 100 1,000 Ÿ increased 8 80 800 experimentation with 1 lower risk tolerance 6 60 600 4 40 400 2 20 200 1 10 1 0 10 0 0 0 0 2000-05 2005-10 2010-15 2000-05 2005-10 2010-15 2000-05 2005-10 2010-15 Source: Spire, 1 - EUCASS 2017 Filippo Graziani “Micro and Nanosatellites – Present and Future” 36Small Sats Carry Exponentially Increasing Capabilities Capability per Kilogram increases up to 10x every 5 years Bandwidth available Power available Memory available Nanosatellites present on cube satellites on cube satellites on cube satellites major advantages Mbit W GB including: Ÿ reduced cost and 12 120 1,200 accelerated 100 1,000 10 development timelines 10 100 1,000 Ÿ increased 8 80 800 experimentation with 1 lower risk tolerance 6 60 600 4 40 400 2 20 200 1 10 1 0 10 0 0 0 0 2000-05 2005-10 2010-15 2000-05 2005-10 2010-15 2000-05 2005-10 2010-15 Source: Spire, 1 - EUCASS 2017 Filippo Graziani “Micro and Nanosatellites – Present and Future” 36


The innovation curve of nanosatellites resembles These markets experienced rapid adoption and that of other markets with exponential captured significant revenue growth as a result of technological improvements their technological advances Moore’s law has been the basis of exponential growth … Cloud revenue 2012-2019 Million transistors per chip by year $B 100 100,000,000 80 10,000,000 60 1,000,000 +58% p.a. 40 100,000 20 10,000 0 1,000 2008 10 12 14 16 18 2020 100 Cloud revenue grew at 58% p.a. from ’09-;19 AWS experienced 50% revenue CAGR p.a. 10 from ’13-’19 1 Source: IDC PCD Forecast Tracker 2020Q3; IDC Mobile Phone Tracker 2019Q3; Statista “Enterprise spending on cloud and data centers by segment from 2009 to 2013” 1. Nominal price Source: Ourworldindata.org, Karl Rupp “40 Years of Microtransistor trend data”, The Economist, “Drastic falls in 37 th cost are powering another computer revolution”, Sept 14 , 2019 1971 75 80 85 90 95 2000 05 10 15 2017The innovation curve of nanosatellites resembles These markets experienced rapid adoption and that of other markets with exponential captured significant revenue growth as a result of technological improvements their technological advances Moore’s law has been the basis of exponential growth … Cloud revenue 2012-2019 Million transistors per chip by year $B 100 100,000,000 80 10,000,000 60 1,000,000 +58% p.a. 40 100,000 20 10,000 0 1,000 2008 10 12 14 16 18 2020 100 Cloud revenue grew at 58% p.a. from ’09-;19 AWS experienced 50% revenue CAGR p.a. 10 from ’13-’19 1 Source: IDC PCD Forecast Tracker 2020Q3; IDC Mobile Phone Tracker 2019Q3; Statista “Enterprise spending on cloud and data centers by segment from 2009 to 2013” 1. Nominal price Source: Ourworldindata.org, Karl Rupp “40 Years of Microtransistor trend data”, The Economist, “Drastic falls in 37 th cost are powering another computer revolution”, Sept 14 , 2019 1971 75 80 85 90 95 2000 05 10 15 2017


Spire Technology Deep Dive Jeroen Cappaert CTOSpire Technology Deep Dive Jeroen Cappaert CTO


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LEMUR2 Satellite Key characteristics: ● 3U nanosatellite (about the size of a Solar wine bottle) panels ● Proprietary technology ● Built entirely in-house ● Based on modern technologies, sensors Sensor and components (e.g. smartphone, antennas automotive, industrial electronics, Linux software) Lithium Batteries ● Software-defined ● Significant space heritage: Sensitive Radio Frequency (RF) sensors Backhaul radios Modern high-performance computing (1) Accumulated LEMUR time in space (years) 40 (1) 2021 accumulated space heritage is a projection.LEMUR2 Satellite Key characteristics: ● 3U nanosatellite (about the size of a Solar wine bottle) panels ● Proprietary technology ● Built entirely in-house ● Based on modern technologies, sensors Sensor and components (e.g. smartphone, antennas automotive, industrial electronics, Linux software) Lithium Batteries ● Software-defined ● Significant space heritage: Sensitive Radio Frequency (RF) sensors Backhaul radios Modern high-performance computing (1) Accumulated LEMUR time in space (years) 40 (1) 2021 accumulated space heritage is a projection.


In-house From Design to On The Rocket Capability highlights ● Ability to build up to eight 3U/6U satellites in parallel ● Average build rate of 1 satellite/week ● 30+ configurations of satellites built 41In-house From Design to On The Rocket Capability highlights ● Ability to build up to eight 3U/6U satellites in parallel ● Average build rate of 1 satellite/week ● 30+ configurations of satellites built 41


110+ The Spire Constellation Satellites in Operation One of the largest constellations in the world • The LEMUR is Spire’s 3U CubeSat platform used to track maritime, aviation, weather and other (1) 276M activity from space (2) 29 Daily Satellite • We operate one of the largest RF sensing fleets Ground AIS Messages and are one the largest producers of radio Stations occultation and space weather data (2) • Our data provides a global view with coverage in 70+ remote regions like oceans and poles Antenna Systems • We are continuously launching improved sensors and upgrading them in-orbit (1) (1) • Covered the Earth 200+ times a day on average 498M Daily ADS-B • 110+ satellites in operation across polar, mid- (2) Messages latitude and equatorial orbits (1) 11K (1) In the month of March 2021 (2) As of March 31, 2021 Average RO profiles 42110+ The Spire Constellation Satellites in Operation One of the largest constellations in the world • The LEMUR is Spire’s 3U CubeSat platform used to track maritime, aviation, weather and other (1) 276M activity from space (2) 29 Daily Satellite • We operate one of the largest RF sensing fleets Ground AIS Messages and are one the largest producers of radio Stations occultation and space weather data (2) • Our data provides a global view with coverage in 70+ remote regions like oceans and poles Antenna Systems • We are continuously launching improved sensors and upgrading them in-orbit (1) (1) • Covered the Earth 200+ times a day on average 498M Daily ADS-B • 110+ satellites in operation across polar, mid- (2) Messages latitude and equatorial orbits (1) 11K (1) In the month of March 2021 (2) As of March 31, 2021 Average RO profiles 42


Key Sensors - Maritime & Aviation AIS/ADS-B Antenna systems GPU Key capabilities ● Combined low-power maritime (AIS) and aviation (ADS-B) sensors ● Multi-channel low-noise RF receivers ● 3rd generation ● Designed in-house ● Powered by software-defined radio, over-the-air upgradeable ● Powerful AI-enabled graphics processing unit (GPU) based computing for data 43 recovery in challenging environmentsKey Sensors - Maritime & Aviation AIS/ADS-B Antenna systems GPU Key capabilities ● Combined low-power maritime (AIS) and aviation (ADS-B) sensors ● Multi-channel low-noise RF receivers ● 3rd generation ● Designed in-house ● Powered by software-defined radio, over-the-air upgradeable ● Powerful AI-enabled graphics processing unit (GPU) based computing for data 43 recovery in challenging environments


Key Sensors - Weather (+more) GNSS GPS/GNSS Satellites Space Weather Sea Ice Key capabilities ● GNSS-based weather sensor Soil ● Capable of sensing all available GNSS Moisture Ocean systems (GPS, Galileo etc.) Winds ● Multi-frequency reception ● 3rd generation ● Can be used for GNSS-reflectometry, altimetry, space weather observation, RF jamming detection and more 44 Ionosphere AtmosphereKey Sensors - Weather (+more) GNSS GPS/GNSS Satellites Space Weather Sea Ice Key capabilities ● GNSS-based weather sensor Soil ● Capable of sensing all available GNSS Moisture Ocean systems (GPS, Galileo etc.) Winds ● Multi-frequency reception ● 3rd generation ● Can be used for GNSS-reflectometry, altimetry, space weather observation, RF jamming detection and more 44 Ionosphere Atmosphere


Substantial Launch Experience and Agility (1) Key stats ● 29 launch campaigns executed ● Launched on 9 unique 3rd party launch vehicles ● Have launched from 10 launch sites in 6 countries (2) (1) As of June 2021. (2). Dates from June 2021 and later are projected launch dates. 45Substantial Launch Experience and Agility (1) Key stats ● 29 launch campaigns executed ● Launched on 9 unique 3rd party launch vehicles ● Have launched from 10 launch sites in 6 countries (2) (1) As of June 2021. (2). Dates from June 2021 and later are projected launch dates. 45


Large-scale Proprietary Ground Operations Infrastructure 29 Ground Stations, 70+ antennas One of the largest, most geographically dispersed ground station network to repatriate data at low latency 46Large-scale Proprietary Ground Operations Infrastructure 29 Ground Stations, 70+ antennas One of the largest, most geographically dispersed ground station network to repatriate data at low latency 46


Scalable and Secure Data Infrastructure Spire LEMUR Constellation Spire Data Platform SpireSight Software Analytics Weather API TT&C / Data Links LEMUR Aviation API AUTOMATED DATA SECURE DATA Sp Spiir re eSi Sig gh ht t PROCESSING REPOSITORY Maritime Dedicated FANS API VPN API Orbital Services API Spire Ground Stations Collects space-based data and transmits to a Data moved from ground stations to proprietary Customers receive proprietary data delivered proprietary ground station network data store for cleansing, standardization, fusion, seamlessly, in real-time via SpireSight API and analysis — all without a human in the loop 1,600+ ~99.9% ~1 Terabyte (1) (2) (1) Average Contacts / Day on Average System Uptime Data Served to Customers / Day (1) As of March 2021 (2) From December 2020 to February 2021 47Scalable and Secure Data Infrastructure Spire LEMUR Constellation Spire Data Platform SpireSight Software Analytics Weather API TT&C / Data Links LEMUR Aviation API AUTOMATED DATA SECURE DATA Sp Spiir re eSi Sig gh ht t PROCESSING REPOSITORY Maritime Dedicated FANS API VPN API Orbital Services API Spire Ground Stations Collects space-based data and transmits to a Data moved from ground stations to proprietary Customers receive proprietary data delivered proprietary ground station network data store for cleansing, standardization, fusion, seamlessly, in real-time via SpireSight API and analysis — all without a human in the loop 1,600+ ~99.9% ~1 Terabyte (1) (2) (1) Average Contacts / Day on Average System Uptime Data Served to Customers / Day (1) As of March 2021 (2) From December 2020 to February 2021 47


MORE Data: GNSS-Reflectometry 2nd gen, launched in 1st gen, launched 19Q4 21Q1 ● GNSS-R provides data for new products like soil moisture, sea ice, ocean wind and more 48MORE Data: GNSS-Reflectometry 2nd gen, launched in 1st gen, launched 19Q4 21Q1 ● GNSS-R provides data for new products like soil moisture, sea ice, ocean wind and more 48


FASTER Data: RF and Optical ISLs RF intersatellite link satellite, Laser intersatellite link deployed Sep 20-Jan 21 satellite, scheduled to launch summer 2021 Intersatellite links turn the Spire constellation into a mesh network and provide significantly faster data ● Low-power RF intersatellite links already in-orbit ● Next on the pad: optical laser links 49FASTER Data: RF and Optical ISLs RF intersatellite link satellite, Laser intersatellite link deployed Sep 20-Jan 21 satellite, scheduled to launch summer 2021 Intersatellite links turn the Spire constellation into a mesh network and provide significantly faster data ● Low-power RF intersatellite links already in-orbit ● Next on the pad: optical laser links 49


SMARTER Data: More Autonomy Through AI And ML In Space On-board autonomy reduces data backhaul needs and increases data value ● Parallel computing enables new processing applications ● Already deployed on 10+ satellites ● In-house developed custom machine learning models increase data yield compared to traditional and often more cumbersome process Sabertooth processor: ● 256 GPU cores ● 1.3 TFLOPS ● ~0.13 TFLOPS/W ● 8 GB RAM Example customer application: Detecting more vessels in a maritime high traffic zone (South China Sea) through ML SMARTER Data: More Autonomy Through AI And ML In Space On-board autonomy reduces data backhaul needs and increases data value ● Parallel computing enables new processing applications ● Already deployed on 10+ satellites ● In-house developed custom machine learning models increase data yield compared to traditional and often more cumbersome process Sabertooth processor: ● 256 GPU cores ● 1.3 TFLOPS ● ~0.13 TFLOPS/W ● 8 GB RAM Example customer application: Detecting more vessels in a maritime high traffic zone (South China Sea) through ML


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Spire Solutions Use Cases Theresa Condor SVPSpire Solutions Use Cases Theresa Condor SVP


Global data and analytics For an increasingly complex and fast-moving world Theresa Condor EVPGlobal data and analytics For an increasingly complex and fast-moving world Theresa Condor EVP


Advanced Global Vessel Tracking Intelligence 250K Vessels/Day (2) Predict AI-Routing Dynamic AIS With ETA allows for more precise route Solves the data gap problem by calculations, optimal port management delivering large volumes of MMSIs with and refined forecasting. near real-time latency and up to 10M additional AIS messages per day, in the busiest shipping areas of the world. (1) 250K Unique MMSIs/Day (2) Enhanced Vessel Data 35 additional fields providing further vessel information within the Vessels API such as Capacity, Design, Dimensions, History, Propulsion, Registration, Vessel and 50K Trading type. Unique IMOs/Day on Average (2) Vessels API Historical Positions API Messages API Combines static and position AIS Access to an archive of past positions for Entire cleansed AIS data feed.
Easier messages to provide latest vessel thousands of vessels. and cheaper to implement than listening information. This REST API aims to to raw AIS NMEA format TCP data +200M provide a complete representation of stream.
Provide complete stream of AIS each ship based on AIS messages, message, JSON format. Non-downsampled Messages (2) external data sources and analyzing ship behavior. (1) As of May 2021. 52 4 (2) From January 2021 to June 2, 2021.Advanced Global Vessel Tracking Intelligence 250K Vessels/Day (2) Predict AI-Routing Dynamic AIS With ETA allows for more precise route Solves the data gap problem by calculations, optimal port management delivering large volumes of MMSIs with and refined forecasting. near real-time latency and up to 10M additional AIS messages per day, in the busiest shipping areas of the world. (1) 250K Unique MMSIs/Day (2) Enhanced Vessel Data 35 additional fields providing further vessel information within the Vessels API such as Capacity, Design, Dimensions, History, Propulsion, Registration, Vessel and 50K Trading type. Unique IMOs/Day on Average (2) Vessels API Historical Positions API Messages API Combines static and position AIS Access to an archive of past positions for Entire cleansed AIS data feed. Easier messages to provide latest vessel thousands of vessels. and cheaper to implement than listening information. This REST API aims to to raw AIS NMEA format TCP data +200M provide a complete representation of stream. Provide complete stream of AIS each ship based on AIS messages, message, JSON format. Non-downsampled Messages (2) external data sources and analyzing ship behavior. (1) As of May 2021. 52 4 (2) From January 2021 to June 2, 2021.


Solving Customers’ Challenges & Increasing Their Competitive Advantage Vessel Tracking Insurance & Financial Planning • Flexible control to access and manipulate • Analyzing ship incidents data. • Improving vessel risk ratings • Run queries by MMSI, vessel name, call • Improving charting rates signs, His class type (A or B) and more • Solves challenges related to vessel tracking Operations & Logistics Environment & Security • Analyzing fleet traffic • Securing fishing territories • Optimizing shipping • Protecting submarine assets • Optimizing port operations • Reducing CO2 emissions and saving on fuel • Cost savings • Improved fuel consumption • Enhancing full supply chain • Integrating sea-air-road ` 55Solving Customers’ Challenges & Increasing Their Competitive Advantage Vessel Tracking Insurance & Financial Planning • Flexible control to access and manipulate • Analyzing ship incidents data. • Improving vessel risk ratings • Run queries by MMSI, vessel name, call • Improving charting rates signs, His class type (A or B) and more • Solves challenges related to vessel tracking Operations & Logistics Environment & Security • Analyzing fleet traffic • Securing fishing territories • Optimizing shipping • Protecting submarine assets • Optimizing port operations • Reducing CO2 emissions and saving on fuel • Cost savings • Improved fuel consumption • Enhancing full supply chain • Integrating sea-air-road ` 55


We Integrate Data in Our Reservoir Proprietary Spire Data Sources Spire Data Sources AIS-Data The data layers we collect are gathered, assembled and processed Satellites in our Proprietary Data Reservoir from which we build our AIS-Data software solutions Terrestrial and Dynamic Weather Data Satellites Spire Algorithms Geo-Zones Partner Spire Predictive API Data as Clients AI/ML Service Vessel Data Events Data Info Alerts TCP (Raw Feed) Cargo Data Imaging/Radar Data ` 56We Integrate Data in Our Reservoir Proprietary Spire Data Sources Spire Data Sources AIS-Data The data layers we collect are gathered, assembled and processed Satellites in our Proprietary Data Reservoir from which we build our AIS-Data software solutions Terrestrial and Dynamic Weather Data Satellites Spire Algorithms Geo-Zones Partner Spire Predictive API Data as Clients AI/ML Service Vessel Data Events Data Info Alerts TCP (Raw Feed) Cargo Data Imaging/Radar Data ` 56


Spire Weather Solution Bundles Basic Bundle Maritime Bundle Maritime Waves Bundle Thunderstorm • Temperature • Sea surface temperature • Significant wind wave height • Convective available potential energy at whole atmosphere • Relative humidity • Ocean currents (eastward • Mean wind wave direction component) • Convective inhibition at whole • Dew point temperature • Mean wind wave period atmosphere • Ocean currents (northward • Wind speed and direction • Significant total swell wave height component) • Lifted index (as u-wind/v-wind components) • Mean total swell wave direction • Significant wave height • Storm-relative helicity • Mean sea-level pressure • Mean total swell wave period • Total waves (wind and swell • Storm motion (eastward • Accumulated precipitation combined) component) • Wind gust speed • Mean wave direction • Storm motion (northward component) • Mean wave period • 0-6 km shear vector (eastward * + other atmospheric component) variables available • 0-6 km shear vector (northward component) • Precipitable water 57Spire Weather Solution Bundles Basic Bundle Maritime Bundle Maritime Waves Bundle Thunderstorm • Temperature • Sea surface temperature • Significant wind wave height • Convective available potential energy at whole atmosphere • Relative humidity • Ocean currents (eastward • Mean wind wave direction component) • Convective inhibition at whole • Dew point temperature • Mean wind wave period atmosphere • Ocean currents (northward • Wind speed and direction • Significant total swell wave height component) • Lifted index (as u-wind/v-wind components) • Mean total swell wave direction • Significant wave height • Storm-relative helicity • Mean sea-level pressure • Mean total swell wave period • Total waves (wind and swell • Storm motion (eastward • Accumulated precipitation combined) component) • Wind gust speed • Mean wave direction • Storm motion (northward component) • Mean wave period • 0-6 km shear vector (eastward * + other atmospheric component) variables available • 0-6 km shear vector (northward component) • Precipitable water 57


Flexible and Easy to Integrate Data Display Formats Integrate advanced forecasts easily into analytics platforms. Our intelligent and easy to use APIs can be quickly integrated into customers’ products and services. GRIB2 File download, global forecast. Following industry standards. JSON Forecast for one location. WMS Geospatial map layer. 58Flexible and Easy to Integrate Data Display Formats Integrate advanced forecasts easily into analytics platforms. Our intelligent and easy to use APIs can be quickly integrated into customers’ products and services. GRIB2 File download, global forecast. Following industry standards. JSON Forecast for one location. WMS Geospatial map layer. 58


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Spire Analytics Actionable insights for Maritime data Spire Analytics transforms data into actionable insights to help solve business challenges. Visualize the most valuable insights Build customized solutions Evaluate data at-a-glance with configurable dashboards layered with data Interact with large volumes of Maritime Data. Filter by country, port or to provide in-depth insights and analysis vessel for a more complete picture of the maritime landscape Custom views Filter to show key variables that matter to customers’ business Create reports and alerts Create alerts to be notified of events that matter to customers’ business and create reports and export data in multiple formats Track the events that matter Make business decisions and verify events with data. Filter and drill down to very granular levels to see root causes and anomalies 60Spire Analytics Actionable insights for Maritime data Spire Analytics transforms data into actionable insights to help solve business challenges. Visualize the most valuable insights Build customized solutions Evaluate data at-a-glance with configurable dashboards layered with data Interact with large volumes of Maritime Data. Filter by country, port or to provide in-depth insights and analysis vessel for a more complete picture of the maritime landscape Custom views Filter to show key variables that matter to customers’ business Create reports and alerts Create alerts to be notified of events that matter to customers’ business and create reports and export data in multiple formats Track the events that matter Make business decisions and verify events with data. Filter and drill down to very granular levels to see root causes and anomalies 60


Global Fishing Watch Global Fishing Watch and the Spire Solution • Non-profit dedicated to promoting transparency in the global fishing fleet • Spire partnership doubled amount of data GFW used to commercial fishing vessels • Initially added 23M new data points to GFW’s database daily, which has since increased • Enabled the Global Fishing Watch algorithm to generate more complex vessel tracks “The partnership with Spire allows Global Fishing Watch to take advantage of the latest in space-based Earth monitoring technology”. Paul Woods - Global Fishing Watch Chief Innovation Officer 61Global Fishing Watch Global Fishing Watch and the Spire Solution • Non-profit dedicated to promoting transparency in the global fishing fleet • Spire partnership doubled amount of data GFW used to commercial fishing vessels • Initially added 23M new data points to GFW’s database daily, which has since increased • Enabled the Global Fishing Watch algorithm to generate more complex vessel tracks “The partnership with Spire allows Global Fishing Watch to take advantage of the latest in space-based Earth monitoring technology”. Paul Woods - Global Fishing Watch Chief Innovation Officer 61


Gravity Supply Chain Partnered with Spire to provide world-class visibility • Provides their clients with end-to-end visibility of Enhanced end-to-end vessel visibility their supply chains • Spire data enabled customers to track their Enabled users to manage their supply chains with cargo across the high seas data-driven decisions Reduced administrative work 62Gravity Supply Chain Partnered with Spire to provide world-class visibility • Provides their clients with end-to-end visibility of Enhanced end-to-end vessel visibility their supply chains • Spire data enabled customers to track their Enabled users to manage their supply chains with cargo across the high seas data-driven decisions Reduced administrative work 62


Global data and analytics For an increasingly complex and fast-moving world Theresa Condor EVPGlobal data and analytics For an increasingly complex and fast-moving world Theresa Condor EVP


Versatility of Air Traffic Data Valuable source of data for decision making and business improvements Data for analytics, flight tracking and solution providers Position and Status (latitude, longitude, altitude, speed, timestamp, vertical rate etc..) Aircraft Data (Tail number, Aircraft type, ICAO address, etc..) Flight and Airport Data (call sign, flight number, airline, scheduled dep/arr time, Dep/ Arr airport, etc...)Versatility of Air Traffic Data Valuable source of data for decision making and business improvements Data for analytics, flight tracking and solution providers Position and Status (latitude, longitude, altitude, speed, timestamp, vertical rate etc..) Aircraft Data (Tail number, Aircraft type, ICAO address, etc..) Flight and Airport Data (call sign, flight number, airline, scheduled dep/arr time, Dep/ Arr airport, etc...)


Satellite-based Data and Analytics for the Aviation Sector 100,000+ Flights observed in a day on average (2) 99.95% API availability (1) Satellite & Terrestrial Data, 25+ satellites with active ADS-B production; access to 20k ground receivers Global coverage over oceans, mountains and remote areas 100 million+ aircraft position updates in a day (3) (1) From January 2021 to February 2021. (2) From January 2021 to May 2021. (3) Highest figure observed in 2021. Changes daily. Confidential and proprietary – disclosure subject to restrictions on cover page. 65Satellite-based Data and Analytics for the Aviation Sector 100,000+ Flights observed in a day on average (2) 99.95% API availability (1) Satellite & Terrestrial Data, 25+ satellites with active ADS-B production; access to 20k ground receivers Global coverage over oceans, mountains and remote areas 100 million+ aircraft position updates in a day (3) (1) From January 2021 to February 2021. (2) From January 2021 to May 2021. (3) Highest figure observed in 2021. Changes daily. Confidential and proprietary – disclosure subject to restrictions on cover page. 65


Improving Data Latency in 2022 (Satellite + Terrestrial) Leveraging the recently demonstrated Inter-Satellite Link Technology from Spire, a full constellation upgrade, targeting lower data latency in 2022 This is targeted to fulfill the ICAO 4D15 mandate for our customers 66Improving Data Latency in 2022 (Satellite + Terrestrial) Leveraging the recently demonstrated Inter-Satellite Link Technology from Spire, a full constellation upgrade, targeting lower data latency in 2022 This is targeted to fulfill the ICAO 4D15 mandate for our customers 66


Customer Use-cases Segmentation Air traffic and airspace Air cargo and freight management analytics Geospatial intel and market Flight operations and fuel analytics optimization Predictive maintenance and Flight tracking and flight aircraft management visualization 67Customer Use-cases Segmentation Air traffic and airspace Air cargo and freight management analytics Geospatial intel and market Flight operations and fuel analytics optimization Predictive maintenance and Flight tracking and flight aircraft management visualization 67


Satavia Data for DECISIONX platform. SATAVIA uses aircraft tracking data from Spire Aviation to enable live monitoring of route usage, and thus live updates of virus importation risks. Historical analysis of route usage by aircraft type, airline and airport, allow forecasts of route-risk broken down by airline and airport. SATAVIA developed a model for forecasting virus transmission risk along an air bridge. ● Forecast the number of infected passengers flying on the air route using estimated passenger numbers ● Forecast the resulting impact on the destination country. ● Compare air bridge destination countries to assess relative risk levels through a dashboard interface.Satavia Data for DECISIONX platform. SATAVIA uses aircraft tracking data from Spire Aviation to enable live monitoring of route usage, and thus live updates of virus importation risks. Historical analysis of route usage by aircraft type, airline and airport, allow forecasts of route-risk broken down by airline and airport. SATAVIA developed a model for forecasting virus transmission risk along an air bridge. ● Forecast the number of infected passengers flying on the air route using estimated passenger numbers ● Forecast the resulting impact on the destination country. ● Compare air bridge destination countries to assess relative risk levels through a dashboard interface.


SE STUDY FreightWaves Data for SONAR platform. ● Ability to analyze the marketplace to find cargo hotspot airports ● Ability to estimate freight capacity in the air ● Analyze tonnage moved in the past and predict tonnage AIR CARGO VISUALISATION MAPS SONAR Aircraft map powered by Airsafe real time data Vehicle tracking information to monitor market conditionsSE STUDY FreightWaves Data for SONAR platform. ● Ability to analyze the marketplace to find cargo hotspot airports ● Ability to estimate freight capacity in the air ● Analyze tonnage moved in the past and predict tonnage AIR CARGO VISUALISATION MAPS SONAR Aircraft map powered by Airsafe real time data Vehicle tracking information to monitor market conditions


Global data and analytics For an increasingly complex and fast-moving world Theresa Condor EVPGlobal data and analytics For an increasingly complex and fast-moving world Theresa Condor EVP


Spire Space Services: Fast, Resilient, Scalable + = Customer applications, Spire’s proven space + Rapid + scalable deployment ideas, and innovations ground + web platform of distributed applications ` 71Spire Space Services: Fast, Resilient, Scalable + = Customer applications, Spire’s proven space + Rapid + scalable deployment ideas, and innovations ground + web platform of distributed applications ` 71


Spire Space Services: Customers’ API to Space Spire Nanosatellite Customers design an application Their hardware and/or software is hosted on a Spire platform in LEO Spire provides the Earth-to-space platform for customers to operate and automate Spire Global Satellite Network Customers control their application Using web APIs, customers schedule operations, perform upgrades, and retrieve their data Spire Cloud-Based Constellation Operations 72Spire Space Services: Customers’ API to Space Spire Nanosatellite Customers design an application Their hardware and/or software is hosted on a Spire platform in LEO Spire provides the Earth-to-space platform for customers to operate and automate Spire Global Satellite Network Customers control their application Using web APIs, customers schedule operations, perform upgrades, and retrieve their data Spire Cloud-Based Constellation Operations 72


Making Space Easy for Everyone PAYLOAD SATELLITE LAUNCH Plan for Satellite bus Satellite Pre-launch (SW or/and HW) payload design build and preparation integration testing DATA CUSTOMER DATA STORAGE & API Processing Data Satellite Check out & production operation commissioning 73Making Space Easy for Everyone PAYLOAD SATELLITE LAUNCH Plan for Satellite bus Satellite Pre-launch (SW or/and HW) payload design build and preparation integration testing DATA CUSTOMER DATA STORAGE & API Processing Data Satellite Check out & production operation commissioning 73


Payload Spectrum and Capabilities Sample IOT / M2M Space situational awareness Remote sensing & Earth Intelligence Space research & development missions Telecommunication Global tracking Rf intelligence & critical & positioning government missions 74Payload Spectrum and Capabilities Sample IOT / M2M Space situational awareness Remote sensing & Earth Intelligence Space research & development missions Telecommunication Global tracking Rf intelligence & critical & positioning government missions 74


End-To-End Space Services Customer footprint in Space Software in Space Deploy customer software to existing satellites, using Software Defined Radios (SDR) in space to test and scale their applications without the need to launch a dedicated spacecraft Payload in Space Host customer payloads on a trusted, fully- integrated platform and benefit from flexible and consistent launch schedule to get into on- Constellation at customers’ service orbit operations faster than with any other provider Over 300 years of Spire space heritage – 110+ LEMUR satellites launched as of March 31, 2021 – global network of Solution in Space ground stations: end – to – end space Build customer applications on top of our global service to rapidly grow mission at space platform, using one of the world’s largest (1) constellation scale networks of sensors, software-defined radios and high-performance computers (1) Space heritage is calculated as the sum of the years of service of all satellites launched 75End-To-End Space Services Customer footprint in Space Software in Space Deploy customer software to existing satellites, using Software Defined Radios (SDR) in space to test and scale their applications without the need to launch a dedicated spacecraft Payload in Space Host customer payloads on a trusted, fully- integrated platform and benefit from flexible and consistent launch schedule to get into on- Constellation at customers’ service orbit operations faster than with any other provider Over 300 years of Spire space heritage – 110+ LEMUR satellites launched as of March 31, 2021 – global network of Solution in Space ground stations: end – to – end space Build customer applications on top of our global service to rapidly grow mission at space platform, using one of the world’s largest (1) constellation scale networks of sensors, software-defined radios and high-performance computers (1) Space heritage is calculated as the sum of the years of service of all satellites launched 75


Software in Space Deploy software to existing satellites, using Software Defined Radios (SDR) in space to test and scale your application without the need to launch dedicated spacecraft. 76Software in Space Deploy software to existing satellites, using Software Defined Radios (SDR) in space to test and scale your application without the need to launch dedicated spacecraft. 76


Payload in Space Host your payload on a trusted, fully integrated platform and benefit from a flexible and consistent launch schedule to get into on-orbit operations rapidly. 77Payload in Space Host your payload on a trusted, fully integrated platform and benefit from a flexible and consistent launch schedule to get into on-orbit operations rapidly. 77


Solution in Space Customers build their applications on top of our global space platform, using one of the world’s largest network of sensors, software - defined radios, and high-performance computers. Contract Signed Design Manufacturing Launched to Deployed Checkout Customer Complete Complete ISS on NG-14 from ISS Complete, First Uses Web API Payload Activated March 30, 2020 June 10, 2020 Aug 18, 2020 Oct 3, 2020 Nov 5, 2020 Dec 30, 2020 Jan 27, 2021 78Solution in Space Customers build their applications on top of our global space platform, using one of the world’s largest network of sensors, software - defined radios, and high-performance computers. Contract Signed Design Manufacturing Launched to Deployed Checkout Customer Complete Complete ISS on NG-14 from ISS Complete, First Uses Web API Payload Activated March 30, 2020 June 10, 2020 Aug 18, 2020 Oct 3, 2020 Nov 5, 2020 Dec 30, 2020 Jan 27, 2021 78


Spire Competitive Edge Technology Reliability. Speed. SaaS Business Model. Software-driven Services. Extensive launch Customer cloud data Dedicated customer Off the shelf or LEMUR 3U/6U/12U Testbed (virtual Full integration and Satellite operations pipeline with a host storage payload API custom designed satellite bus providing connection) or components testing in through Spire’s of providers payloads all the supporting development kit can house Mission Operations functions required by be put at customer’s Center with 24/7/365 the payload/s and disposal for early operations team antennas to meet integration testing (if + customer mission requirements required) operations support 79Spire Competitive Edge Technology Reliability. Speed. SaaS Business Model. Software-driven Services. Extensive launch Customer cloud data Dedicated customer Off the shelf or LEMUR 3U/6U/12U Testbed (virtual Full integration and Satellite operations pipeline with a host storage payload API custom designed satellite bus providing connection) or components testing in through Spire’s of providers payloads all the supporting development kit can house Mission Operations functions required by be put at customer’s Center with 24/7/365 the payload/s and disposal for early operations team antennas to meet integration testing (if + customer mission requirements required) operations support 79


Value Adding Options Precise Pointing Inter-Satellite Links Star tracker can be added to support Dramatically reduce latency through sensors requiring highly-accurate transmission of data across satellites using altitude determination RF or laser ISL to optimize ground station connectivity AI / ML Computing High-Throughput Connectivity Acceleration of on-board data X-Band download to retrieve GB of payload data processing ahead of downlink and at a fraction of the time; a must-have for a support to novel application variety of EO applications development 80Value Adding Options Precise Pointing Inter-Satellite Links Star tracker can be added to support Dramatically reduce latency through sensors requiring highly-accurate transmission of data across satellites using altitude determination RF or laser ISL to optimize ground station connectivity AI / ML Computing High-Throughput Connectivity Acceleration of on-board data X-Band download to retrieve GB of payload data processing ahead of downlink and at a fraction of the time; a must-have for a support to novel application variety of EO applications development 80


2929


Financial Overview Thomas Krywe CFOFinancial Overview Thomas Krywe CFO


Spire Key Financial Highlights Recurring Revenue Model with Exceptional SaaS KPIs Land and Expand Strategy Drives Revenue Visibility and NRR (~145% in 2020A) Strong Growth in ARR Drives Top Line Momentum (1) Highly Scalable Model with 90%+ Gross Margins and 80%+ FCF Conversion by 2025E Clear Path to Profitability Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. You can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non-GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. (1) FCF is a non-GAAP measure defined as Adj. EBITDA - Capex. FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA. 83Spire Key Financial Highlights Recurring Revenue Model with Exceptional SaaS KPIs Land and Expand Strategy Drives Revenue Visibility and NRR (~145% in 2020A) Strong Growth in ARR Drives Top Line Momentum (1) Highly Scalable Model with 90%+ Gross Margins and 80%+ FCF Conversion by 2025E Clear Path to Profitability Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. You can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non-GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. (1) FCF is a non-GAAP measure defined as Adj. EBITDA - Capex. FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA. 83


Recurring Revenue Model with Exceptional SaaS KPIs 89% $235K 21 Month 2020A 145%+ 97% 6.6 Month 15.4x ARR to ACV ARR / Solution Avg. Contract Metrics NRR GRR CAC Payback CLTV / CAC (1) Bookings Customer Length (2) Free Cash Flow and FCF Conversion % Non-GAAP Gross Profit and Gross Margin % Annual Recurring Revenue ($ in millions) ($ in millions) ($ in millions) 84% 84% 91% 1,189 88% 82% 74% 62% 66% 64% 830 615 422 $357 305 186 145 166 20% 70 84 36 41 18 35 8 18 4 (35) (9) (24) (28) (14) (34) 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. For historical periods, you can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non-GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP (1) Average contract length is calculated by taking new customer total contract value bookings divided into contract length (dollar weighted) (2) FCF is a non-GAAP measure defined as Adj. EBITDA - Capex. FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA 84Recurring Revenue Model with Exceptional SaaS KPIs 89% $235K 21 Month 2020A 145%+ 97% 6.6 Month 15.4x ARR to ACV ARR / Solution Avg. Contract Metrics NRR GRR CAC Payback CLTV / CAC (1) Bookings Customer Length (2) Free Cash Flow and FCF Conversion % Non-GAAP Gross Profit and Gross Margin % Annual Recurring Revenue ($ in millions) ($ in millions) ($ in millions) 84% 84% 91% 1,189 88% 82% 74% 62% 66% 64% 830 615 422 $357 305 186 145 166 20% 70 84 36 41 18 35 8 18 4 (35) (9) (24) (28) (14) (34) 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. For historical periods, you can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non-GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP (1) Average contract length is calculated by taking new customer total contract value bookings divided into contract length (dollar weighted) (2) FCF is a non-GAAP measure defined as Adj. EBITDA - Capex. FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA 84


Spire's ARR Growth Compares Favorably with Best-In-Class SaaS Companies (1) Annual Recurring Revenue Evolution Years from $1 million to $100 million ARR ($ in millions) ($ in millions) $100 70 $80 $60 36 $40 18 $20 8 2 $0 2017A 2018A 2019A 2020A 2021E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Source: BVP Nasdaq Emerging Cloud Index; https://www.bvp.com/bvp-nasdaq-emerging-cloud-index as of February 2021 Years Note: All Spire financials actual through 2020 and management estimates for 2021 are as of each fiscal year end. Year 5 Spire ARR data based on management estimates (1) Uses quarterly revenue times four as a proxy for ARR and assumes it takes 24 months from founding to $1 million ARR where data is unavailable 85Spire's ARR Growth Compares Favorably with Best-In-Class SaaS Companies (1) Annual Recurring Revenue Evolution Years from $1 million to $100 million ARR ($ in millions) ($ in millions) $100 70 $80 $60 36 $40 18 $20 8 2 $0 2017A 2018A 2019A 2020A 2021E 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Source: BVP Nasdaq Emerging Cloud Index; https://www.bvp.com/bvp-nasdaq-emerging-cloud-index as of February 2021 Years Note: All Spire financials actual through 2020 and management estimates for 2021 are as of each fiscal year end. Year 5 Spire ARR data based on management estimates (1) Uses quarterly revenue times four as a proxy for ARR and assumes it takes 24 months from founding to $1 million ARR where data is unavailable 85


Spire's Business Model is Capital Efficient with Significant Operating Leverage (1) (2) Spire Core Business Capital Efficiency Spire’s Incremental Non-GAAP Gross Margin ($ in millions) 94% 94% 90% 180% 82% 159% 892 160% 67% 140% 120% 100% 451 80% 66% 60% 223 34% 40% 102 54 20% 3% 3% 13 7 24 5% 10% 12% 0% 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2021E 2022E 2023E 2024E 2025E (1) ARR Capex % of ARR Limited Additional Capex Requirements Attractive Operating Leverage Profile Global space infrastructure in place Driven by Spire’s collect once, sell many times model Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. For historicals, you can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non- GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP (1) Excludes Space Services (2) YoY change in gross profit / YoY change in revenue for incremental gross profit 86Spire's Business Model is Capital Efficient with Significant Operating Leverage (1) (2) Spire Core Business Capital Efficiency Spire’s Incremental Non-GAAP Gross Margin ($ in millions) 94% 94% 90% 180% 82% 159% 892 160% 67% 140% 120% 100% 451 80% 66% 60% 223 34% 40% 102 54 20% 3% 3% 13 7 24 5% 10% 12% 0% 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2021E 2022E 2023E 2024E 2025E (1) ARR Capex % of ARR Limited Additional Capex Requirements Attractive Operating Leverage Profile Global space infrastructure in place Driven by Spire’s collect once, sell many times model Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. For historicals, you can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non- GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP (1) Excludes Space Services (2) YoY change in gross profit / YoY change in revenue for incremental gross profit 86


Spire Non-GAAP Financial Summary ($ in millions) FY 12/31 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E ASP for ARR (in thousands) $262 $208 $235 $258 $310 $332 $370 $396 Total GAPP Revenue $6 $18 $28 $54 $114 $227 $478 $913 % growth 203% 54% 89% 112% 99% 111% 91% Gross Profit ($9) $4 $18 $54 $84 $186 $422 $830 % margin NM 20% 64% 66% 74% 82% 88% 91% (-) Research & Development ($12) ($14) ($20) ($29) ($40) ($55) ($96) ($146) (-) Sales & Marketing (4) (5) (10) (19) (32) (58) (105) (201) (-) General and Administrative (9) (10) (12) (18) (18) (23) (45) (91) (-) Loss on Satellite Deorbit & Launch Failure (0) (2) (1) - - - - - Operating Profit ($35) ($28) ($24) ($31) ($5) $51 $175 $392 % margin 22% 37% 43% EBITDA ($25) ($19) ($20) ($25) $5 $67 $200 $426 Adj. EBITDA ($23) ($15) ($18) ($19) $6 $66 $198 $425 % margin 5% 29% 41% 47% (-) Capex (12) (9) 10 (16) (20) (25) (31) (68) Free Cash Flow (FCF) ($35) ($24) ($7) ($35) ($14) $41 $166 $357 % FCF conversion 62% 84% 84% Source: 2021 – 2025 Spire financials based on management projections Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. For historical periods, you can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non-GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA 87Spire Non-GAAP Financial Summary ($ in millions) FY 12/31 2018A 2019A 2020A 2021E 2022E 2023E 2024E 2025E ASP for ARR (in thousands) $262 $208 $235 $258 $310 $332 $370 $396 Total GAPP Revenue $6 $18 $28 $54 $114 $227 $478 $913 % growth 203% 54% 89% 112% 99% 111% 91% Gross Profit ($9) $4 $18 $54 $84 $186 $422 $830 % margin NM 20% 64% 66% 74% 82% 88% 91% (-) Research & Development ($12) ($14) ($20) ($29) ($40) ($55) ($96) ($146) (-) Sales & Marketing (4) (5) (10) (19) (32) (58) (105) (201) (-) General and Administrative (9) (10) (12) (18) (18) (23) (45) (91) (-) Loss on Satellite Deorbit & Launch Failure (0) (2) (1) - - - - - Operating Profit ($35) ($28) ($24) ($31) ($5) $51 $175 $392 % margin 22% 37% 43% EBITDA ($25) ($19) ($20) ($25) $5 $67 $200 $426 Adj. EBITDA ($23) ($15) ($18) ($19) $6 $66 $198 $425 % margin 5% 29% 41% 47% (-) Capex (12) (9) 10 (16) (20) (25) (31) (68) Free Cash Flow (FCF) ($35) ($24) ($7) ($35) ($14) $41 $166 $357 % FCF conversion 62% 84% 84% Source: 2021 – 2025 Spire financials based on management projections Note: This slide contains non-GAAP financial measures and key metrics relating to Spire’s past and expected future performance. For historical periods, you can find the reconciliation of these measures to the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non-GAAP financial measures disclosed in this presentation should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP FCF conversion defined as (Adj. EBITDA – Capex) / Adj. EBITDA 87


Spire Model Build FY2020A FY2021E FY2022E FY2023E FY2024E FY2025E Actual Low High Low High Low High Low High Low High Total # of ARR Solution Customers (Ending) 154 258 286 483 534 872 964 1,606 1,775 2,989 3,304 ARR Per Solution Customer (K's) $235 $245 $270 $270 $298 $315 $349 $346 $382 $359 $397 Net Retention Rate 145% 127% 140% 126% 139% 122% 135% 120% 133% 118% 130% % of Business Non-ARR 11% 5% 15% 5% 15% 5% 15% 5% 15% 5% 15% Cost of Goods Sold % of Revenue 36% 33% 36% 25% 27% 17% 19% 11% 12% 9% 10% Research & Development % of Revenue 69% 52% 56% 33% 37% 23% 25% 19% 21% 15% 17% Sales & Marketing % of Revenue 35% 34% 37% 27% 29% 24% 27% 21% 24% 21% 23% General & Administration % of Revenue 41% 32% 35% 15% 17% 10% 11% 9% 10% 10% 11% Total Headcount (End of Period) 251 365 384 471 496 618 650 854 899 1,241 1,306 Note: This slide contains “Low” and “High” ranges for some of the key drivers used to build the projections in this presentation for the period FY2021 through FY2025. 88Spire Model Build FY2020A FY2021E FY2022E FY2023E FY2024E FY2025E Actual Low High Low High Low High Low High Low High Total # of ARR Solution Customers (Ending) 154 258 286 483 534 872 964 1,606 1,775 2,989 3,304 ARR Per Solution Customer (K's) $235 $245 $270 $270 $298 $315 $349 $346 $382 $359 $397 Net Retention Rate 145% 127% 140% 126% 139% 122% 135% 120% 133% 118% 130% % of Business Non-ARR 11% 5% 15% 5% 15% 5% 15% 5% 15% 5% 15% Cost of Goods Sold % of Revenue 36% 33% 36% 25% 27% 17% 19% 11% 12% 9% 10% Research & Development % of Revenue 69% 52% 56% 33% 37% 23% 25% 19% 21% 15% 17% Sales & Marketing % of Revenue 35% 34% 37% 27% 29% 24% 27% 21% 24% 21% 23% General & Administration % of Revenue 41% 32% 35% 15% 17% 10% 11% 9% 10% 10% 11% Total Headcount (End of Period) 251 365 384 471 496 618 650 854 899 1,241 1,306 Note: This slide contains “Low” and “High” ranges for some of the key drivers used to build the projections in this presentation for the period FY2021 through FY2025. 88


New Sensors and Capabilities Outlook Peter Platzer CEONew Sensors and Capabilities Outlook Peter Platzer CEO


Expanding the RF that We Collect Today … 90Expanding the RF that We Collect Today … 90


Expanding the RF that We Collect for Customers … 91Expanding the RF that We Collect for Customers … 91


Expanding the RF that We Might Collect Tomorrow … 92Expanding the RF that We Might Collect Tomorrow … 92


All Feeding into an Integrated Analytics Platform… 93All Feeding into an Integrated Analytics Platform… 93


…to Create a “Digital Twin Earth” with Increasing Use Cases and Customer Segments Ent Enter er Lat Lat // Lon Long g ::____ ________ _____ _ // __ ______ ______ __ 94…to Create a “Digital Twin Earth” with Increasing Use Cases and Customer Segments Ent Enter er Lat Lat // Lon Long g ::____ ________ _____ _ // __ ______ ______ __ 94


As others go to the Moon, Mars, Venus, and beyond, we have our eyes firmly fixed on Earth, to make this a safer and sustainable place our children can enjoy. Know more, change your futureAs others go to the Moon, Mars, Venus, and beyond, we have our eyes firmly fixed on Earth, to make this a safer and sustainable place our children can enjoy. Know more, change your future


AppendixAppendix


FCF Conversion FCF / Adj. EBITDA Glossary / Definitions GHG Greenhouse Gases Gross Retention Rate: ARR that was renewed (net of churn) Annual Contract Value: Amount of estimated revenue to be GRR ACV divided into ARR up for renewal delivered in the first 12 months of customer contract New customer total contract value bookings / contract length Average Contract Length ICAO International Civil Aviation Organization (dollar weighted) ADS-B Automatic Dependent Surveillance-Broadcast ISL Intersatellite Links AI Artificial Intelligence IMO International Maritime Organization AIS Automation Identification System ML Machine Learning API Application Programming Interface Annual Recurring Revenue: Customer requires the Net Retention Rate: ARR that was renewed (net of churn) plus NRR ARR solutions/services to support their on-going business; excludes upsell divided into ARR up for renewal all one-time business ASP Average Sales Price RF Radio Frequency Customer Acquisition Cost: Associated sales and marketing CAC costs spent on acquiring new ARR Solution customers / the RO Radio Occultation number of new ARR Solution customers acquired Time (in months) to payback ARR Solution customer CAC Payback acquisition costs; CAC / (Avg. ACV per account * non-GAAP SAR Synthetic Aperture Radar gross margin) Customer Lifetime Value: (ARR * non-GAAP gross margins) * CLTV TCE Time Charter Equivalent estimated ARR Solution customer life (1 - GRR of 90%) EO Electro Optical TT&C Telemetry, Tracking & Command FCF Free Cash Flow = Adj. EBITDA – Capex VPN Virtual Private Network 97FCF Conversion FCF / Adj. EBITDA Glossary / Definitions GHG Greenhouse Gases Gross Retention Rate: ARR that was renewed (net of churn) Annual Contract Value: Amount of estimated revenue to be GRR ACV divided into ARR up for renewal delivered in the first 12 months of customer contract New customer total contract value bookings / contract length Average Contract Length ICAO International Civil Aviation Organization (dollar weighted) ADS-B Automatic Dependent Surveillance-Broadcast ISL Intersatellite Links AI Artificial Intelligence IMO International Maritime Organization AIS Automation Identification System ML Machine Learning API Application Programming Interface Annual Recurring Revenue: Customer requires the Net Retention Rate: ARR that was renewed (net of churn) plus NRR ARR solutions/services to support their on-going business; excludes upsell divided into ARR up for renewal all one-time business ASP Average Sales Price RF Radio Frequency Customer Acquisition Cost: Associated sales and marketing CAC costs spent on acquiring new ARR Solution customers / the RO Radio Occultation number of new ARR Solution customers acquired Time (in months) to payback ARR Solution customer CAC Payback acquisition costs; CAC / (Avg. ACV per account * non-GAAP SAR Synthetic Aperture Radar gross margin) Customer Lifetime Value: (ARR * non-GAAP gross margins) * CLTV TCE Time Charter Equivalent estimated ARR Solution customer life (1 - GRR of 90%) EO Electro Optical TT&C Telemetry, Tracking & Command FCF Free Cash Flow = Adj. EBITDA – Capex VPN Virtual Private Network 97


Reconciliation of Non-GAAP Financials ($ in millions) Gross Profit Reconciliation Adjusted EBITDA Reconciliation FY 12/31 2018A 2019A 2020A FY 12/31 2018A 2019A 2020A Net Income (Loss) from Continuing Operations ($37) ($32) ($33) Revenue $6 $18 $28 (-) COGS (15) (15) (10) (+) Depreciation & Amortization 11 10 6 (+) Net Interest 1 3 7 (+) Taxes 0 0 0 Gross Profit (GAAP) ($9) $4 $18 (+) Stock Compensation 0 0 0 ADJUSTED EBITDA ($25) ($19) ($20) (+) Loss on Satellite Deorbit and Launch Failure 0 2 1 Gross Profit (Non-GAAP) ($9) $4 $18 (-) Other Income (Net) 0 1 1 (+) Other Non-Recurring Expense -- -- -- (+) Stock Compensation 2 2 2 Operating Profit Reconciliation ADJUSTED EBITDA ($23) ($15) ($18) FY 12/31 2018A 2019A 2020A (-) CapEx (12) (9) (10) Gross Profit (GAAP) ($9) $4 $18 Free Cash Flow (FCF) ($35) ($24) ($28) (-) Research and Development (13) (17) (21) (-) Sales and Marketing (4) (5) (10) (-) General and Administrative (10) (10) (13) (-) Loss on Satellite Deorbit and Launch Failure (0) (2) (1) Operating Profit (GAAP ($36) ($29) ($26) (+) Stock Compensation 2 2 2 Operating Profit (Non-GAAP) ($35) ($28) ($24) 98Reconciliation of Non-GAAP Financials ($ in millions) Gross Profit Reconciliation Adjusted EBITDA Reconciliation FY 12/31 2018A 2019A 2020A FY 12/31 2018A 2019A 2020A Net Income (Loss) from Continuing Operations ($37) ($32) ($33) Revenue $6 $18 $28 (-) COGS (15) (15) (10) (+) Depreciation & Amortization 11 10 6 (+) Net Interest 1 3 7 (+) Taxes 0 0 0 Gross Profit (GAAP) ($9) $4 $18 (+) Stock Compensation 0 0 0 ADJUSTED EBITDA ($25) ($19) ($20) (+) Loss on Satellite Deorbit and Launch Failure 0 2 1 Gross Profit (Non-GAAP) ($9) $4 $18 (-) Other Income (Net) 0 1 1 (+) Other Non-Recurring Expense -- -- -- (+) Stock Compensation 2 2 2 Operating Profit Reconciliation ADJUSTED EBITDA ($23) ($15) ($18) FY 12/31 2018A 2019A 2020A (-) CapEx (12) (9) (10) Gross Profit (GAAP) ($9) $4 $18 Free Cash Flow (FCF) ($35) ($24) ($28) (-) Research and Development (13) (17) (21) (-) Sales and Marketing (4) (5) (10) (-) General and Administrative (10) (10) (13) (-) Loss on Satellite Deorbit and Launch Failure (0) (2) (1) Operating Profit (GAAP ($36) ($29) ($26) (+) Stock Compensation 2 2 2 Operating Profit (Non-GAAP) ($35) ($28) ($24) 98