#1MOMENTUS INVESTOR PRESENTATION October 12, 2020 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications.#2DISCLAIMER AND CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation (together with oral statements made in connection herewith, this "Presentation") contains selected confidential information about Momentus Inc. ("Momentus") and Stable Road Acquisition Corp. ("Stable Road" or "SRAC"). By participating in this Presentation, you expressly agree to keep confidential all otherwise non-public information disclosed by us, whether orally or in writing, during this Presentation or in these Presentation materials. You also agree not to distribute, disclose or use such information for any purpose, other than for the purpose of your firm's participation in the potential financing and to return to Momentus and Stable Road, delete or destroy this Presentation upon request. You are also being advised that the United States securities laws restrict persons with material non-public information about a company obtained directly or indirectly from that company from purchasing or selling securities of such company, or from communicating such information to any other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities on the basis of such information. This Presentation relates to the potential financing of a portion of the contemplated transaction through a private placement of Stable Road's Class A common stock. This Presentation shall not constitute a "solicitation" as defined in Section 14 of the Securities Exchange Act of 1934, as amended. This Presentation is not an offer, or a solicitation of an offer, to buy or sell any investment or other specific product. Any offering of securities (the "Securities") will not be registered under the Securities Act of 1933, as amended (the "Act"), and will be offered as a private placement to a limited number of institutional "accredited investors" as defined in Rule 501(a) (1), (2), (3) or (7) under the Act and "Institutional Accounts" as defined in FINRA Rule 4512(c). Accordingly, the Securities must continue to be held unless a subsequent disposition is exempt from the registration requirements of the Act. Investors should consult with their legal counsel as to the applicable requirements for a purchaser to avail itself of any exemption under the Act. The transfer of the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. Neither Momentus nor Stable Road is making an offer of the Securities in any state where the offer is not permitted. NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THE SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. Information contained in this Presentation concerning Momentus' industry and the markets in which it operates, including Momentus' general expectations and market position, market opportunity and market size, is based on information from Momentus management's estimates and research, as well as from industry and general publications and research, surveys and studies conducted by third parties. In some cases, we may not expressly refer to the sources from which this information is derived. Management estimates are derived from industry and general publications and research, surveys and studies conducted by third parties and Momentus' knowledge of its industry and assumptions based on such information and knowledge, which we believe to be reasonable. In addition, assumptions and estimates of Momentus' and its industry's future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause Momentus' future performance and actual market growth, opportunity and size and the like to differ materially from our assumptions and estimates. Stable Road and Momentus own or have rights to various trademarks, service marks and trade names that they use in connection with the operation of their respective businesses. This Presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third parties' trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Stable Road or Momentus, or an endorsement or sponsorship by or of Stable Road or Momentus. Solely for convenience, the trademarks, service marks and trade names referred to in this Presentation may appear without the , TM or SM symbols, but such references are not intended to indicate, in any way, that Stable Road or Momentus will not assert, to the fullest extent under applicable law, their rights or the right of the applicable licensor to these trademarks, service marks and trade names. Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 2#3DISCLAIMER AND CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS (CONT'D) This Presentation contains estimated or projected financial information with respect to Momentus, namely Momentus' projected revenue, customer demand, market share, EBITDA, EBITDA margin and free cash flow for 2020-2027. Such estimated or 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 estimated or 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" paragraph below. Actual results may differ materially from the results contemplated by the estimated or 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 estimates and projections will be achieved. Neither the independent auditors of Stable Road nor the independent registered public accounting firm of Momentus, audited, reviewed, compiled, or performed any procedures with respect to the estimates or 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. The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated under the Act. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by Stable Road with the Securities and Exchange Commission (the "SEC"). Some of the financial information and data contained in this Presentation, such as revenue, EBITDA, EBITDA margin and free cash flow, have not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). Stable Road and Momentus believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Momentus' financial condition and results of operations. Stable Road and Momentus 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. 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 Momentus' financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expense and income are excluded or included in determining these non-GAAP financial measures. In order to compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. See page 38 for a comparison of management forecasted non-GAAP revenue and revenue calculated under ASC 606, and for a reconciliation of non-GAAP to GAAP measures. Nothing herein should be construed as legal, financial, tax or other advice. You should consult your own advisers concerning any legal, financial, tax or other considerations concerning the opportunity described herein. The general explanations included in this Presentation cannot address, and are not intended to address, your specific investment objectives, financial situations or financial needs. If the contemplated business combination is pursued, Stable Road will be required to file a proxy statement and other relevant documents with the SEC. Stockholders and other interested persons are urged to read the proxy statement and any other relevant documents filed with the SEC when they become available because they will contain important information about Stable Road, Momentus and the contemplated business combination. Stockholders will be able to obtain a free copy of the proxy statement (when filed), as well as other filings containing information about Stable Road, Momentus and the contemplated business combination, without charge, at the SEC's website located at www.sec.gov. Stable Road and its directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Stable Road's stockholders in respect of the contemplated business combination and the other matters set forth in the definitive proxy statement. Information regarding Stable Road's directors and executive officers is available under the heading "Directors, Executive Officers and Corporate Governance" in its Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 26, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement relating to the contemplated business combination when it becomes available. Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications.#4DISCLAIMER AND CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS (CONT'D) Forward Looking Statements 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 other financial and performance metrics, projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this Presentation, and on the current expectations of Momentus' and Stable Road'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 Momentus and Stable Road. 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 Stable Road or Momentus 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 Momentus; risks related to the rollout of Momentus' business and the timing of expected business milestones; the effects of competition on Momentus' future business; level of product service or product failures that could lead customers to use competitors' services; developments and changes in laws and regulations, including increased regulation of the space transportation industry; the impact of significant investigative, regulatory or legal proceedings; the amount of redemption requests made by Stable Road's public stockholders; the ability of Stable Road 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 Stable Road's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, in each case, under the heading "Risk Factors," and other documents of Stable Road 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 Stable Road nor Momentus presently know or that Stable Road and Momentus 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 Stable Road's and Momentus' expectations, plans or forecasts of future events and views as of the date of this Presentation. Stable Road and Momentus anticipate that subsequent events and developments will cause Stable Road's and Momentus' assessments to change. However, while Stable Road and Momentus may elect to update these forward-looking statements at some point in the future, Stable Road and Momentus specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Stable Road's and Momentus' assessments as of any date subsequent to the date of this Presentation. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither Momentus, Stable Road, nor any of their respective affiliates have any obligation to update this Presentation. Although all information and opinions expressed in this Presentation were obtained from sources believed to be reliable and in good faith, no representation or warranty, express or implied, is made as to its accuracy or completeness. This Presentation contains preliminary information only, is subject to change at any time and is not, and should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your engagement with Momentus and Stable Road. Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications.#5TRANSACTION OVERVIEW MOMENTUS TEAM Mikhail Kokorich Founder & CEO Dawn Harms Chief Revenue Officer 989 Rob Schwarz Chief Technology Officer STABLE ROAD CAPITAL Brian Kabot Chairman & CEO Fred Kennedy President TEAM Jikun Kim Chief Financial Officer Alex Wicks Chief Development Officer Juan M. Quiroga Chief Investment Officer OFFERING SIZE VALUATION CAPITAL STRUCTURE OWNERSHIP TRANSACTION HIGHLIGHTS Stable Road (NASDAQ: SRAC) is a publicly listed special purpose acquisition company with ~$173M cash held in trust ▪ Raised $175M in PIPE commitments, including $10 million from Stable Road, before transaction announcement ▪ PF enterprise value of $1.2B with well capitalized balance sheet ▪ Implies an attractive valuation versus peer averages (~80% discount to relative value) ▪ Post-transaction, Momentus will have ~$310M in cash to enhance operations, growth and path to profitability ▪ No additional capital needs expected prior to achieving profitability ▪ ~75% existing Momentus shareholders, ~14% SPAC and founder shares, ~12% PIPE investors STABLE ROAD VIEWS MOMENTUS AS A UNIQUE AND COMPELLING OPPORTUNITY TO INVEST IN THE ONLY PUBLICLY-TRADED, PURE-PLAY COMMERCIAL SPACE COMPANY CAPABLE OF REVOLUTIONIZING SPACE INFRASTRUCTURE AND THE BROADER SPACE ECONOMY Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Note: Assumes no redemptions from SPAC investors. 1. For additional details on transaction valuation, please refer to page 35#6MOMENTUS AT A GLANCE ■ ■ ■ ■ COMPANY OVERVIEW FIRST MOVER IN PROVIDING IN-SPACE TRANSPORTATION AND INFRASTRUCTURE SERVICES - SPACE TRANSPORTATION SERVICES - first hub and spoke model of space, providing last mile delivery in partnership with key launchers, such as SpaceX - SATELLITE AS A SERVICE - hosted payload services that significantly decrease the cost of developing, launching and maintaining satellites IN-ORBIT SERVICES - maintaining, repairing and refueling satellites in orbit GROUNDBREAKING WATER PROPULSION TECHNOLOGY that significantly reduces costs and is reusable Successfully tested water based propulsion technology on a demo flight launched mid-2019 - is still operational today Founded in 2017 in Santa Clara, California KEY PARTNERS CURRENT CUSTOMERS REVENUE ($M)² NON-GAAR PARTNERSHIPS, CUSTOMERS AND STRONG BACKLOG DEVELOPMENT MADE IN SPACE IN-SPACE ROBOTICS SPACEX RIDESHARE PARTNERSHIP LOCKHEED MARTIN SKYKRAFT KNOW YOUR WORLD FOSSA C3S STRONG BACKLOG >$90M³ $152 $2 $19 2020E 2021E 2022E NASA ODYSSEUS Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Osen Relativity PRECIOUS PAYLOAD $598 2023E ASTRO DIGITAL PIPELINE UNDER NEGOTIATION/ CONVERSATIONS ~$1.IB $1,200 SATREVOLUTION 2024E SEOPS 601 ORBITS $1,960 2025E 1. 2. NUSPACE $2,987 albaorbital $4,035 RBC GLOBAL GROUND STATION 2026E 2027E PIXXEL ENOUROMAST SILAUNCH STEADY-STATE EBITDA MARGINS ~60% 14 US and PCT patent applications that describe 70 distinct ideas Management forecasted non-GAAP revenue. See page 38 for revenue calculated using ASC 606 3. Including non-binding options with deposits pre-paid 6#7EXCEPTIONAL TEAM LED BY VISIONARY FOUNDER Image: Vicki Thompson MIKHAIL KOKORICH CEO FOUNDER INNOVATOR Visionary space entrepreneur and innovator. Mikhail founded Momentus in 2017 with an idea to enable industrialization in space He has more than 20 years of experience in industries ranging from manufacturing and retail to space technologies. Mikhail started his first company at 19 years old as a physics student in Siberia in 1996 Before entering the aerospace business, Mikhail founded and ran a chain of domestic merchandise retail stores, second in size only to Bed Bath & Beyond, successfully scaled and sold one of the largest consumer electronic retail chains as well as one of the biggest timber companies in the world Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. SIGNIFICANT AEROSPACE EXPERIENCE FRED KENNEDY PRESIDENT A DARPA GENERAL ASTRA DYNAMICS JIKUN KIM CHIEF FINANCIAL OFFICER formlabs emcore AV Raytheon Booz | Allen | Hamilton AeroVironment DAWN HARMS CHIEF REVENUE OFFICER TELEDYNE TECHNOLOGIES BOEING SSL ROB SCHWARZ CHIEF TECHNOLOGY OFFICER MAXAR SSL ALEX WICKS CHIEF DEVELOPMENT OFFICER urthecast MDA COceanWorks SURREY AARON MITCHELL HEAD OF FUTURE ARCHITECTURES NASA PL A MAXAR COMPANY ILEX JASON HUMMELT VP OF INNOVATION bromeliad bradford Research lab Transform Materials NATHAN ORR CHIEF ENGINEER קווין TEMI ODUOZOR VP CONTROLLING ENGINE ROOM Gigatronics EY ALEX FISHKIN CHIEF BUSINESS AFFAIRS & LEGAL OFFICER LUMINAR Google ALIKI LOPER-LEDDY VP OF PROGRAM OPERATIONS SSL' NEGAR FEHER VP OF BUSINESS DEVELOPMENT SSL LOCKHEED MARTIN 7#8MOMENTUS ENABLING THE FUTURE OF THE SPACE ECONOMY OUR VISION A future where humanity is equipped with all it needs to flourish throughout the solar system OUR MISSION Provide the infrastructure services that support all industry beyond Earth OUR MARKET OPPORTUNITY Space economy worth ~$415B today and expected to grow to ~$1.4T¹ over the next decade Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 1. Wall street research and Space Foundation, The Space Report#9MOMENTUS OVERVIEW SERVICES FOR THE SPACE ECONOMY Space Transportation Developing and operating extremely capable (AV and power) space platforms, which can be used to transfer cargo in space LONG-TERM Asteroid & Moon Mining Utilizing in situ resources for fuel and manufacturing Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Momentus is the first mover in building transportation & infrastructure services in space. We are at the center of the commercialization of space and we believe that we are key to enabling the next industrial revolution LONG-TERM Energy & Data Processing Paving the way for future in-space energy production for in-space applications such as data processing, manufacturing Satellite as a Service Capable of hosting and providing power for customers' payloads LONG-TERM Manufacturing & Assembly Building extremely large next generation structures that could only exist in zero G In-Orbit Servicing Enabling full reusability for in-space vehicles through refueling, lifetime extensions and relocation of satellites, de-orbiting, repairing, and in-space assembly H20#10SPACE TRANSPORTATION HUB AND SPOKE MODEL IN SPACE Momentus makes access to space significantly more affordable by combining rideshare launch with low-cost last mile delivery through the hub and spoke model of space Arriving in space atop large reusable rockets like the Falcon 9, our transfer vehicles will carry customers' satellites to very specific, custom orbits. After final drop-off, our vehicles are expendable, but will be reusable in the future 3) Transfer vehicle delivers satellites to custom, final orbits 2) Transfer vehicle carrying satellites separates from the rocket 1) Rocket carries transfer vehicle with satellites to the initial orbit Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 4) Transfer vehicle deorbits or refuels and returns to initial orbit for reuse. CUSTOMERS' SATELLITES MOMENTUS TRANSFER VEHICLE ROCKET: FALCON-9, NEW GLENN, ETC. 10#11SPACE TRANSPORTATION SIGNIFICANT PRICE ADVANTAGES Price estimates for small satellites + Rideshare to initial orbit and transfer with own propulsion system to final orbit >$70,000/KG >$50,000/KG Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Dedicated small rocket launch to final orbit Rideshare on large rocket and travel last mile with Vigoride transfer vehicle < $15,000/KG 11#12SATELLITE AS A SERVICE HOSTING CUSTOMER PAYLOADS Momentus provides a unique, low- cost, modular approach for hosting customers' payloads in space Our transfer vehicles are designed to move customers' payloads to a specific orbit and stay connected to provide continual power, orbit keeping, orientation and communication for the mission duration Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. (()) MOMENTUS TRANSFER VEHICLE HOSTED PAYLOAD 12#13SATELLITE AS A SERVICE REINVENTING THE SATELLITE MODEL WITH SIGNIFICANTLY LOWER COSTS > 1kW of power and 1-2 km/sec delta-V capabilities >$IOM Traditional satellite platforms Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. <$IM/YEAR Vigoride platform 13#14IN-ORBIT SERVICING Next generation Momentus reusable vehicles, designed to be capable of performing proximity maneuvers, docking and refueling, and equipped with robotic arms, are anticipated to be well-suited for the entire range of in-orbit services. The services will include refueling or life extension for larger spacecraft, relocation or deorbiting satellites, and conducting salvage missions and robotic operations, such as repair or in- orbit assembly -Re-positioning Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Refueling & Repairing Life Extension Deorbiting 14#15FIRST MOVER WITH RAPID PROGRESS TO DATE First thruster fire Founder's investment; First hire; Seed round First contract: Ardoride Demo: First 10 people; First patents filed YCombinator Demo Day: Venture round, El Camino test flight; Signed deal with Space-X $40M¹ signed contracts; First Air Force contracts 50 people, >$90M¹ signed contracts; 2018 2019 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Vigoride launch on Falcon 9 Vigoride launch on Falcon 9. Vigoride launch on Falcon-9. Vigoride launch on Falcon-9 WE ARE HERE 2020 2021 1. Including non-binding options with deposits pre-paid 15#16RAPID GROWTH IN SPACE TRANSPORTATION # 2010 70 Satellites Mid-sized rockets launch mid-sized spacecrafts into many orbits ……… T T T … 117 # 107 2019 493 Satellites Mix of large, mid-sized and small rockets Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. # ⠀⠀⠀⠀⠀⠀ TIIIIII ⠀⠀⠀⠀⠀⠀I 1.IIII # By 2030 10,000+ Satellites* Super-large rockets launch the majority of the mass to space *NSR Small Satellite Markets, 6th Edition and Satellite Manufacturing and Launch Services, 9th Edition 16#17WHY IS THE DISRUPTION HAPPENING? per kg $8,000 Soyuz 2.1 1966 8,000 kg Falcon-9 2010 16,000 kg $1,750 per kg $3,750 2021 per kg New Glenn 45,000 kg per kg $250 Starship 2022 150,000 kg ROCKETS ARE GETTING BIGGER AND CHEAPER $100,000 $10,000 $1,000 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Rocket capacity to LEO, kg 10 Rocket sizes vs. cost (cost per kg to LEO) ¹ 100 1000 10 000 100 000 Source: Public information, company websites and NSR Small Satellite Markets, 6th Edition and Satellite Manufacturing and Launch Services, 9th Edition 1. Estimated fully loaded total price of vehicles 17#18SMALLSAT TO LEO MARKET OFFERS RAPID SHORT-TERM GROWTH 1,500 1,000 500 2018 Smallsat to LEO TAM, ($M) 2020 2022 2024 TAM and launched mass calculated based on data from NSR's Small Satellite Markets, 6th Edition 150,000 100,000 50,000 2018 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. Smallsat Mass to LEO, (kg) 2020 2022 2024 THE SMALLSAT MARKET IS EXPANDING RAPIDLY The number of launched smallsats (mass <500 kg) grew 3X over the last four years. Almost all smallsats aim for LEO, but applications for higher orbits are also emerging 18#19EXCITING NEAR-TERM OPPORTUNITIES BEYOND THE LEO MARKET 0 $40B $30B $20B $10B 2018 SPACE TRANSPORTATION MARKET 2020 BEYOND GEOSYNCHRONOUS ORBIT GEOSYNCHRONOUS ORBIT (GEO) MEDIUM EARTH ORBIT (MEO) LOW EARTH ORBIT (LEO) Source: Stratistics Analysis 2022 2024 2026 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. BEYOND GEOSYNCHRONOUS ORBIT GEOSYNCHRONOUS ORBIT VAN ALLEN BELT LOW EARTH ORBIT S VAN ALLEN BELT MEDIUM EARTH ORBIT 19#20PRODUCT ROADMAP ADDRESSES ALL MARKETS Capabilities¹ Orbits 2020 Delta-V Space Transportation TAM Forecast² VIGORIDE Up to 750 kg. LEO Host Power Available Up to 1 kW Up to 2 km/sec $1.5B 2022 ARDORIDE Up to 4,000 kg. MEO/GEO/HEO/Lunar Up to 10 kW Up to 5 km/sec $10B Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 2024 FERVORIDE Up to 20,000 kg. LEO/MEO/GEO/HEO Lunar, Deep Space Up to 100 kW Up to 7 km/sec $37B 1. Lower payload capacity for higher delta-V missions 2. NSR Small Satellite Markets, 6th Edition NSR Satellite Manufacturing and Launch Services, 9th Edition, and Stratistics. Does not include Satellite as a Service and In-Orbit Servicing 20#21CORNERSTONE WATER PROPULSION INNOVATION Our propulsion was built ground-up to be low-cost, efficient, low risk, safe, easy to refuel, reusable and scalable. The use of Microwave Electrothermal ("MET") technology is the cornerstone that makes all our current services possible Throttleable . Can vary thrust and ISP to optimize the trip time Uses water as a propellant • Safe • Easy to test • Available in space High ISP • 2 to 5 times any chemical propulsion system • Efficient maneuvers in space Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. MICROWAVE ELECTROTHERMAL (MET) TECHNOLOGY Scaleable • Larger engines are even more efficient and have higher ISP Simple design uses off-the-shelf components • Low cost during manufacture • Low risk when making new design Inlet High thrust • 10 times higher than most electric propulsion • Results in faster trip times 21#22RAPID VIGORIDE DEVELOPMENT THROUGH A SERIES OF COMMERCIAL FLIGHTS RAMPING FULL-SCALE COMMERCIALIZATION OF THE VIGORIDE MET THRUSTER TEST LAUNCH July 2019 IN-SPACE MET THRUSTER TEST OBJECTIVES: ✓ First in-space test of MET thruster and feed system Includes water pump and avionics testing TECHNOLOGY UPGRADES: ✓ Verified MET firing through pressure, temperature, and reflected power measurements compared to ground tests Feed system test success HYBRID DEMO COMMERCIAL LAUNCH December 2020 VIGORIDE VI.O OBJECTIVES: Separation from launch vehicle, free-flying mode deployment of customers Small delta-v maneuvers with empty vehicle TECHNOLOGY UPGRADES: EELV Secondary Payload Adapter ("ESPA") compatible structure Deployment mechanisms and sequencers Lower power MET thruster Attitude control resistojet thrusters LIMITED COMMERCIAL LAUNCHES H1’2021 VIGORIDE V2.0 OBJECTIVES: ✓ Multiple launches (2) with larger payload mass and volume Small delta-v maneuver for customer payload (delta-altitude) Larger delta-v maneuvers with empty vehicle TECHNOLOGY UPGRADES: ✓ ESPA Grande compatible larger structure, more powerful MET thrusters (2x750W) Radiation tolerant and fault-tolerant avionics design High power solar panels Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. FULL COMMERCIAL LAUNCH Q4'2021 VIGORIDE V2.1 OBJECTIVES: Provide full maneuvering capabilities ✓ Fly multiple vehicles (3) aboard the same Falcon 9 TECHNOLOGY UPGRADES: ✓ New low-cost, high power solar panels ✓ Multiple incremental upgrades in propulsion, feed system, and structure 22#23KEY SUBSYSTEMS DEVELOPMENT AND TESTS VIGORIDE VI.O VIGORIDE V2.0 VIGORIDE V2.1 PROPULSION Developed and built Developed Development Complete Q3 2021 AVIONICS Developed and built Flight Delivery October, 2020 Flight Delivery Q2 2021 POWER SYSTEM Developed and built Flight Delivery October, 2020 Flight Delivery Q2 2021 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. STRUCTURE Developed and built Developed, Build in Process Flight Delivery Q2 2021 VIBRATION/ VACUUM TESTING Tested, flight-ready Nov 2020 - Jan 2021 September 2021 23#24MOMENTUM AND COMPATIBILITY WITH LEADING LAUNCHERS ENABLE SUCCESS Vigoride Ardoride Fervoride SPACEX ✓ BLUE ORIGIN Launch deal signed RIDESHARE PARTNERSHIP AGREEMENT WITH SPACEX Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. GK LAUNCH GK SERVICES Launch deal signed Relativity Launch deal signed 24#25SIGNIFICANT CUSTOMER TRACTION AND EXPECTED DEMAND SIGNED CONTRACTS >$90M UNDER NEGOTIATION OR IN CONVERSATIONS ~$1.IB EXPECTED DEMAND ~$1.2B ■ I I Significant momentum from rapidly expanding smallsat market seeking low cost and regular launch access to LEO ■ Customers include satellite operators, satellite manufacturers, launch providers, defense primes and government agencies ▪ ~$230M in proposals submitted and / or under late-stage negotiation and ~$880M in ongoing conversations Pending awards from US Government and defense primes who have expressed strong interest in Momentus technology and / or Satellite as a Service Ardoride and Fervoride use-cases provide compelling cost/time advantages for deployment of megaconstellations ●●●00 Ongoing demand to be driven by maintenance of megaconstellations C35 LOCKHEED MARTIN SEOPS GOT GEBITS PRECIOUS PAYLOAD -10% ~10% SKYKRAFT KNOW YOUR WORLD NUSPACE ~5% STARLINK Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. NASA Relativity Osen SATREVOLUTION ~75% FOSSA ODYSSEUS albaorbital ISILAUNCH Satellite Operators Satellite Manufacturers ■ US Government amazon OneWeb G ENDURO ENOUROSAT Non-US Government, Launchers and Other ASTRO DIGITAL Satellites 1. Including non-binding options with deposits pre-paid 25#26STRONG BACKLOG AND DISRUPTIVE TAILWINDS DRIVING GROWTH (# OF MISSIONS] SPACE TRANSPORTATION Vigoride Ardoride Fervoride Total SATELLITE AS A SERVICE (SATAAS] IN-ORBIT SERVICING Vigoride Ardoride Fervoride Total Vigoride Ardoride Fervoride Total 2020E 1 1 2020E 2020E 2021E 5 5 2021E 2021E 2022E 8 1 - 9 2022E 2 2 2022E 2023E 16 2 - 18 2023E 8 1 - 9 2023E 2 2 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 2024E 24 6 1 31 2024E 16 2 - 18 2024E 6 6 2025E 30 11 4 45 2025E 24 8 2 34 2025E 26 2 28 2026E 38 17 8 63 2026E 36 16 4 56 2026E 52 8 - 60 2027E 47 22 12 81 2027E 54 24 8 86 2027E 88 22 110 26#27CLEAR PATH TO PROFITABILITY AND >$IB IN EBITDA MANAGEMENT FORECAST (NON-GAAP) ($ in millions) Satellite Transportation Services Satellite as a Service In-Orbit Services Revenue % Growth Satellite Transportation Services Satellite as a Service In-Orbit Services Gross Profit % Margin (-) SG&A (-) R&D EBITDA % Margin (-) CapEx (-) Change in NWC (-) Income tax paid (unlevered) Unlevered Free Cash Flow 2020E $2 $2 NM ($1) ($1) NM (9) (17) ($27) NM ($4) 5 ($26) 2021E $19 $19 NM $2 $2 NM (15) (32) ($46) NM ($20) 26 ($40) 2022E $122 30 $152 682% $42 21 $63 42% (21) (60) ($18) NM ($6) (11) ($35) 2023E $435 153 10 $598 293% $156 70 5 $230 39% (27) (96) $107 18% ($7) 32 (3) $129 2024E $852 319 29 $1,200 101% $399 158 16 $573 48% (36) (129) $409 34% ($51) 327 (84) $601 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 2025E $1,089 721 150 $1,960 63% $785 505 108 $1,398 71% (46) (151) $1,201 61% ($10) 286 (250) $1,227 2026E $1,453 1,192 343 $2,987 52% $1,030 796 254 $2,080 70% (59) (160) $1,861 62% ($10) 307 (389) $1,769 2027E $1,717 1,650 669 $4,035 35% $1,194 1,031 471 $2,696 67% (76) (164) $2,455 61% ($12) (27) (513) $1,903 1. Management forecasted non-GAAP financials based on non-GAAP revenue. See page 38 for financials calculated under ASC 606 and for a reconciliation of non-GAAP to GAAP measures 27#28$, Cost LONG-TERM GROWTH OPPORTUNITY IN-SPACE RENEWABLE ENERGY SOLAR POWER AND DATA CENTERS ARE POTENTIALLY A $1.4T OPPORTUNITY BY 2050¹ 100B 10B 1B 100M 10M 1M Power Vigoride 1kW Ardoride PHOTOVOLTAIC SOLAR PANELS 10kW Fervoride 100kW Valoride TRADITIONAL GAAS SOLAR PANELS $600/W SOLAR THERMAL STEAM TURBINES AND GENERATOR 1MW LOW-COST SI PANELS $100/W Solar Power 10MW 100MW Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 1GW The largest source of energy in the Solar System is the Sun. Every sq. ft. of surface in space gets 10 times more energy in space than on Earth Traditional photovoltaic solar panels are competitive in space only for smaller power uses. Solar-thermal systems using steam turbines and generators are more efficient at the hundreds of kW power level Advantages: Low-cost Scalability Radiation tolerance Availability of technologies 1. Management estimates 28#29LONG-TERM GROWTH OPPORTUNITY IN-SPACE MINING OF WATER AND RESOURCES ASTEROID/MOON MINING IS POTENTIALLY A MASSIVE OPPORTUNITY H20 WATER MINING IN-SPACE MANUFACTURING Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. $$$ The abundance of water in asteroids, the Moon and Mars, and ease of extraction and storage position water as the first and primary extraterrestrial mined resource PRECIOUS METALS Iron and nickel as primary construction materials, as well as regolith for radiation shielding, will be used to build megastructures in space, including space solar power stations and permanent human space habitats Precious and rare metals, with several magnitudes larger concentrations in some types of asteroids, will be the main source of these metals for the industries of the future 29#30MOMENTUS OPPORTUNITY First mover in providing in-space transportation & infrastructure services to the space economy Rapid near-term expected growth driven by disruptive tailwinds in commercial space Breakthrough water-based propulsion technology Significant customer traction and deep integration with industry leaders Clear path to profitability and >$1B in EBITDA Massive long-term growth opportunities beyond current business plan Well-seasoned team with experience in aerospace, propulsion and robotics piloted by visionary leader and innovator Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 30#31TRANSACTION & VALUATION OVERVIEW Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications.#32DETAILED TRANSACTION OVERVIEW ($ IN MILLIONS) Total Sources SOURCES&USES Existing Momentus Shareholders SPAC Cash in Trust PIPE Equity¹ Sources Total Uses Uses Existing Momentus Shareholders Cash to Balance Sheet Cash to Existing Shareholders Estimated Fees & Expenses Amount $1,130 173 175 $1,478 Amount $1,130 283 30 35 $1,478 % 76% 12% 12% 100% % 76% 19% 2% 2% 100% PRO FORMA VALUATION PF Shares Outstanding² Share Price PF Equity Value (+) Assumed PF Net Cash³ PF Enterprise Value to Market Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. PIPE (incl. Sponsor Co-investment) 12% PF OWNERSHIP SPLIT SPAC Investors 11% SPAC Sponsors 2% Existing Shareholders 75% Amount 151.2 $10.00 $1,512 (312) $1,200 Note: Assumes no redemptions from SPAC investors. 1. Includes $10M sponsor co-investment 2. Includes 113.0m Momentus rollover shares, 16.5m PIPE shares, 1.0m sponsor co- investment shares, 3.4m SPAC sponsor shares (2.9m founder shares and 0.5m private placement units) and 17.3m SPAC investors shares. 3. Estimated net cash on Momentus balance sheet at close of ~$29M, inclusive of options exercise 32#33REVENUE GROWTH EBITDA' GROWTH EBITDA' MARGIN SELECT PEERS OPERATIONAL BENCHMARKING MOMENTUS 100.6% '24E 282.8% MOMENTUS '24E 63.4% 34.1% '25E '24E 193.8% MOMENTUS '25E 61.3% '25E MOMENTUS VIRGIN GALACTIC TRADITIONAL LAUNCH 84.0% '24E NM '24E 25.9% '24E 25.1% '25E GALACTIC 43.6% '25E GALACTIC 29.8% '25E GALACTIC '21E-22E Revenue Growth Median: 4.6% 5.9% AVIO '21E-22E EBITDA Growth 9.4% Median: 6.8% AVIO 3.2% AEROJET ROCKETDYNE 14.0% AEROJET ROCKETDYNE 4.2% ¹21E EBITDA Margin AEROJET ROCKETDYNE Median: 10.8% 7.6% AVIO Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. 10.0% 31.2% BOEING MAXAR BOEING AIRBUS TECHNOLOGIES 24.0% 9.9% MAXAR TECHNOLOGIES 22.2% MAXAR TECHNOLOGIES LARGE DEFENSE/SPACE '21E-22E Revenue Growth 20.9% 8.1% L3HARRIS™ 28.0% Median: 6.3% '21E-22E EBITDA Growth 15.6% 6.3% LOCKHEED MARTIN THALES NORTHROP GRUMMAN Median: 12.9% AIRBUS THALES 12.9% '21E EBITDA Margin Median: 14.3% 14.3% 5.9% NORTHROP GRUMMAN 6.3% LOCKHEED MARTIN 13.0% 5.9% L3HARRIS™ 5.9% NORTHROP GRUMMAN 11.1% 4.5% LOCKHEED MARTIN 3.2% L3HARRIS 10.4% THALES AIRBUS BOEING 1. Source: Company management, FactSet and Wall Street projections as of October 9, 2020 Momentus management forecasted non-GAAP financials based on non-GAAP revenue. See page 38 for financials calculated under ASC 606 and for a reconciliation of non- GAAP to GAAP measures 33#34EV/ REVENUE EV/EBITDA' SELECT PEERS VALUATION BENCHMARKING MOMENTUS (@$1.2B PF Ent. Value) 1.0x '24E 2.9x 0.6x MOMENTUS '24E '25E 1.0x '25E VIRGIN GALACTIC 11.4x '24E 43.9x '24E 9.1x Ep '25E GALACTIC 30.6x '25E '21E TRADITIONAL LAUNCH GALACTIC Median: 1.2x 1.6x AEROJET ROCKETDYNE 11.3x 0.9x Median: 11.2x AVIO AVIO 11.2x MOMENTUS Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. AEROJET ROCKETDYNE 2.3x '21E LARGE DEFENSE / SPACE 16.7x 2.3x L3HARRIS MAXAR TECHNOLOGIES 13.0x BOEING NORTHROP GRUMMAN 1.9x LOCKHEED MARTIN 12.2x LOCKHEED MARTIN Median: 1.9x 1.9x NORTHROP GRUMMAN Median: 11.0x 11.0x 1.7x 1.1x 10.1x BOEING AIRBUS THALES 9.4x 1.1x 1. Source: Company management, FactSet and Wall Street projections as of October 9, 2020 Momentus management forecasted non-GAAP financials based on non-GAAP revenue. See page 38 for financials calculated under ASC 606 and for a reconciliation of non- GAAP to GAAP measures 8.3x L3HARRIS AIRBUS MAXAR THALES TECHNOLOGIES 34#35TRANSACTION PRICED AT A DISCOUNT TO PEER MULTIPLES ($ IN MILLIONS) ~80% Discount To Relative Value TRANSACTION VALUE $1,200 Pro Forma Enterprise Value $6,371 $5,212 RELATIVE VALUATION Enterprise Value Discounted Back 4 Years at 20% Discount Rate 2025E EBITDA at 9.0x - 11.0x Multiple $7,239 2025E MANAGEMENT FORECASTED EBITDA': $1,201 Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. $4,344 +/-25% 2025E EBITDA at 10.0x Multiple 1. ■ SUMMARY OF APPROACH Applies a range of multiples to Momentus' 2025E management forecasted EBITDA to arrive at an implied future EV. The future EV is discounted 4 years back to December 31, 2020 at 20% to arrive at an implied discounted EV The applied range of multiples is centered around the median of Momentus' peer group (~10.0x), with sensitivity built on both high and low ends ▪ 2025E projected financials-based valuation is the appropriate approach given Momentus' significant revenue growth and ramp to steady-state EBITDA margins of ~60% Momentus management forecasted non-GAAP financials based on non-GAAP revenue. See page 38 for financials calculated under ASC 606 and for a reconciliation of non- GAAP to GAAP measures 35#36APPENDIX Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications.#37SUMMARY SPACE TRANSPORTATION VIGORIDE UNIT ECONOMICS REUSABLE WITH LARGE ROCKETS -$15,000 Customer Price EXPENDABLE (~$5,000) A (~$2,000) B UNIT MARGIN OF ~40% Launch Production (~$2,000) Labor ~$6,000 Unit Margin ~$15,000 (~$3,500) A Customer Launch Price REUSABLE (~$1,500) D UNIT MARGIN OF ~60% (~$400) (~$400) C Propellant Production Labor E Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. -$9,200 Unit Margin ~$10,000 (~$1,000) A (~$500) D UNIT MARGIN OF ~75% (~$400) C (~$400) Customer Launch Propellant Production Labor Price KEY COMMENTARY A Advantageous rideshare partnership agreements provide for competitive launch price: expected to decrease with onset of larger rockets (i.e., Starship) B Expected cost per vehicle ~$1M distributed across 500 kg. payload capacity results in a per kg. cost of ~$2,000 C Reusability enables amortization of production & labor costs over 4-5 year, in which Vigoride could perform 20-30 missions D Efficient and cost-effective water propellant, cost decreases with large-rocket economies of scale E Significant potential net profit margins driven by quickly developing vehicle reusability and large-rocket economies of scale Note: Summary and illustrative. Representative of general unit economics for standard missions. Prices and unit economics will differ by mission E ~$7,700 Unit Margin 37#38MANAGEMENT FORECAST VS. FORECAST USING ASC 606 ACCOUNTING STANDARDS AND EBITDA RECONCILIATION MANAGEMENT FORECASTED FINANCIALS ($ in millions) Satellite Transportation Services Satellite as a Service In-Orbit Services Revenue % Growth Satellite Transportation Services Satellite as a Service In-Orbit Services Gross Profit % Margin (-) SG&A (-) R&D EBITDA % Margin (-) CapEx (-) Change in NWC (-) Income tax paid (unlevered) Unlevered Free Cash Flow 2020E 2021E 2022E 2023E ■ $2 $2 NM ($1) ($1) NM (9) (17) $19 $122 $435 $852 $1,089 $1,453 $1,717 30 153 319 721 1,192 1,650 10 29 150 343 669 $19 $152 $598 $1,200 $1,960 $2,987 $4,035 NM 682% 293% 101% 63% 52% 35% $399 $785 $1,030 $1,194 158 505 796 16 108 254 471 $573 $1,398 $2,080 $2,696 71% $2 $156 70 5 $230 39% 48% 70% 67% $2 8% (15) (32) $42 21 (21) (60) ($27) ($46) ($18) NM NM NM ($4) 5 ($20) 26 ($26) ($40) $63 42% ($6) (11) (27) (96) $107 18% ($7) 32 2024E 2025E 2026E 2027E (3) ($35) $129 (76) (129) (151) (160) (164) (36) (46) (59) $409 $1,201 $1,861 $2,455 34% 61% 62% 61% ($51) ($10) ($10) ($12) 327 307 (27) 286 (84) (250) (389) (513) $601 $1,227 $1,769 $1,903 ($ in millions) Satellite Transportation Services Satellite as a Service In-Orbit Services Revenue % Growth Satellite Transportation Services Satellite as a Service In-Orbit Services Gross Profit % Margin (-) SG&A FORECAST USING ASC 606 ACCOUNTING STANDARDS (-) R&D EBITDA % Margin (-) CapEx (-) Change in NWC (-) Income tax paid (unlevered) Unlevered Free Cash Flow BASIS OF FINANCIAL PROJECTIONS AND RECONCILIATION TO GAAP METRICS Revenue is projected by service within the context of business outlook, market growth and expected impact of business initiatives Management forecasted financials reflect management's view on the business 2020E 2021E 2022E 2023E 2024E 2025E 2026E 2027E Copyright 2020. Momentus Inc. Proprietary & Confidential. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. If you are not the intended recipient, please immediately delete this document and any associated communications. $0.4 $0 NM $0.2 $0 NM (9) (19) ($28) NM 16 $11 $89 $277 $804 $998 $1,364 $1,717 116 226 622 1,059 1,650 10 29 150 343 669 $402 $1,058 $1,769 $2,767 $4,035 286% 163% 67% 56% 46% $312 $707 $972 $1,194 65 405 664 1,031 16 108 254 471 $392 $1,220 $1,890 $2,696 37% 69% 68% 67% ($4) 5 $11 $104 NM 825% $2 $2 20% $20 $106 7 32 (16) (35) ($49) NM ($20) ($6) 29 26 ($7) 121 ($26) ($40) ($35) $132 $26 $142 25% 35% (21) (60) ($55) NM (27) (96) $18 5% (46) (59) (36) (76) (129) (151) (160) (164) $228 $1,024 $1,671 $2,455 22% 58% 60% 61% ($51) ($10) ($10) 508 463 498 (23) (213) (349) (513) $663 $1,264 $1,809 $1,903 ($12) (27) Management forecasted financials are non-GAAP and recognize revenue based on when certain manufacturing and vehicle integration milestones are projected to be reached, which milestones are relatively in line with payment schedules for customer advances In the forecast using ASC 606 accounting standards, the Company's services are considered a single performance obligation, to launch the transport vehicle carrying the customer's payload on a third-party rocket. Under ASC 606, the Company recognizes revenue at a point in time when control is transferred, which is considered to be upon launch 38