#1INVESTOR PRESENTATION JULY 2021 SATELLOGIC#2LEGAL DISCLAIMER Disclaimers and Other Important Information This presentation (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 between Nettar Group Inc. ("Satellogic" or the "Company") and CF Acquisition Corp. V ("CFAC V") and related transactions (the "Potential Business Combination"). By reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. This Presentation and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the Potential Business Combination, or any related transactions, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This Presentation does not constitute either advice or a recommendation regarding any securities. Any offer to sell securities will be made only pursuant to a definitive Subscription Agreement and will be made in reliance on an exemption from registration under the Securities Act of 1933, as amended, for offers and sales of securities that do not involve a public offering. CFAC V and Satellogic reserve the right to withdraw or amend for any reason any offering and to reject any Subscription Agreement for any reason. The communication of this Presentation is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. No representations or warranties, express or implied, are given in, or in respect of, this Presentation. This Presentation is subject to updating, completion, revision, verification and further amendment. None of CFAC V, Satellogic or their respective affiliates has authorized anyone to provide interested parties with additional or different information. No securities regulatory authority has expressed an opinion about the securities discussed in this Presentation and it is an offense to claim otherwise. To the fullest extent permitted by law, in no circumstances will CFAC V, Satellogic or any of their respective subsidiaries, stockholders, affiliates, representatives, partners, directors, officers, employees, 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 (including the internal economic models), its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Recipients of this Presentation are not to construe its contents, or any prior or subsequent communications from or with CFAC V, Satellogic or their respective representatives as investment, legal or tax advice. 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 Satellogic or the Potential Business Combination. Recipients of this Presentation should each make their own evaluation of Satellogic and the Potential Business Combination and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. Forward-Looking Statements Legend This document contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Satellogic and CFAC V, including statements regarding the benefits of the Potential Business Combination, the anticipated timing of the Potential Business Combination, the services offered by Satellogic and the markets in which it operates (including future market opportunities), Satellogic's projected future results, future financial condition and performance and expected financial impacts of the Proposed Business Combination (including future revenue, pro forma enterprise value and cash balance), the satisfaction of closing conditions to the Proposed Business Combination, the PIPE Offering and the level of redemptions of CFAC V's public stockholders. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including, but not limited to: (i) the risk that the Potential Business Combination and PIPE Offering may not be completed in a timely manner or at all, which may adversely affect the price of CFAC V's securities, (ii) the risk that the Potential Business Combination may not be completed by CFAC V's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by CFAC V, (iii) the failure to satisfy the conditions to the consummation of the Potential Business Combination, including the adoption of the business combination agreement by the shareholders of CFAC V and Satellogic, the satisfaction of the minimum trust account amount following redemptions by CFAC V's public shareholders and the receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the Potential Business Combination, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement, (vi) the effect of the announcement or pendency of the Potential Business Combination on Satellogic's business relationships, performance, and business generally, (vii) risks that the Potential Business Combination disrupts current plans of Satellogic and potential difficulties in Satellogic employee retention as a result of the Potential Business Combination, (viii) the outcome of any legal proceedings that may be instituted against Satellogic or against CFAC V related to the transaction agreement or the Potential Business Combination, (ix) the ability to maintain the listing of CFAC V's securities on The Nasdaq Stock Market LLC, (x) the price of CFAC V's securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Satellogic operates or plans to operate, variations in performance across competitors, changes in laws and regulations affecting Satellogic's business and changes in the combined capital structure, (xi) the ability of Satellogic to implement business plans, forecasts, and other expectations after the completion of the Potential Business Combination, and identify and realize additional opportunities, (xii) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Satellogic operates, (xiii) the risk that Satellogic and its current and future collaborators are unable to successfully develop and commercialize Satellogic's products or services, or experience significant delays in doing so, (xiv) the risk that Satellogic may never achieve or sustain profitability; (xv) the risk that Satellogic may need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xvi) the risk that the post-combination company experiences difficulties in managing its growth and expanding operations, (xvii) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xviii) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic's products and services, (xix) the risk that Satellogic is unable to secure or protect its intellectual property and (xx) the risk that the post-combination company's securities will not be approved for listing on The Nasdaq Stock Market LLC or another stock exchange or if approved, maintain the listing. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the registration statement on Form F-4 and proxy statement/prospectus discussed below and other documents filed by CFAC V and/or PubCo (as defined below), from time to time with the U.S. Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic and CFAC V assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Satellogic nor CFAC V gives any assurance that either Satellogic, CFAC V or the combined company will achieve its expectations. SATELLOGIC CONFIDENTIAL 2#3LEGAL DISCLAIMER (CONT'D) Use of Projections This Presentation contains projected financial information with respect to Satellogic. 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 financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties. See "Forward-Looking Statements" above. Actual results may differ materially from the results contemplated by the financial forecast 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 forecasts will be achieved. Any "pro forma" financial data included herein has not been prepared in accordance with Article 11 of Regulation S-X of the SEC, is presented for informational purposes only and may differ materially from the Regulation S-X compliant pro forma financial statements of Satellogic for the year ended December 31, 2020 to be included in the registration statement on Form F-4 in connection with the Potential Business Combination (when available). Financial Information; Non-GAAP Financial Terms Some of the projected financial information and data contained in this Presentation, such as Adjusted EBITDA (and related measures), has not been prepared in accordance with United States generally accepted accounting principles ("GAAP"). Satellogic and CFAC V believe these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Satellogic's financial condition and results of operations. Satellogic's management uses these non-GAAP measures for trend analyses and for budgeting and planning purposes. Satellogic and CFAC V 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 Satellogic's financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management of Satellogic does t 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 Satellogic'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. You should review Satellogic's audited financial statements, which will be presented in CFAC V's proxy statement and/or PubCo's prospectus to be filed with the SEC, and not rely on any single financial measure to evaluate Satellogic's business. A reconciliation of non-GAAP financial measures in this Presentation to the most directly comparable GAAP financial measures is not included, because, without unreasonable effort, Satellogic is unable to predict with reasonable certainty the amount or timing of non-GAAP adjustments that are used to calculate these Non-GAAP financial measures. Industry and Market Data This Presentation has been prepared by Satellogic and includes market data and other statistical information from third-party industry publications and sources as well as from research reports prepared for other purposes. Although CFAC V and Satellogic believe these third-party sources are reliable as of their respective dates, none of CFAC V, Satellogic or any of their respective affiliates has independently verified the accuracy or completeness of this information and cannot assure you of the data's accuracy or completeness. Some data is also based on Satellogic's good faith estimates, which are derived from both internal sources and the third-party sources described above. None of CFAC V, Satellogic, their respective affiliates, nor their respective directors, officers, employees, members, partners, stockholders or agents make any representation or warranty with respect to the accuracy of such information. Trademarks and Intellectual Property All trademarks, service marks, and trade names of CFAC V or Satellogic or their respective affiliates used herein are trademarks, service marks, or registered trade names of CFAC V or Satellogic, respectively, as noted herein. Any other product, company names, or logos mentioned herein are the trademarks and/or intellectual property of their respective owners, and their use is not alone intended to, and does not alone imply, a relationship with CFAC V or Satellogic, or an endorsement or sponsorship by or of CFAC V or Satellogic. 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 CFAC V, Satellogic or the applicable rights owner 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. Additional Information and Where to Find It This Presentation relates to a proposed transaction between Satellogic and CFAC V. This Presentation does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. CFAC V intends to file a proxy statement with the SEC and expects that a newly created entity ("PubCo") through which the Potential Business Combination will be consummated will file a registration statement on Form F-4 that will include a prospectus. The proxy statement will be sent to all CFAC V stockholders. CFAC V and/or PubCo will also file other documents regarding the Potential Business Combination with the SEC. A consent solicitation will also be sent to all holders of Satellogic securities. Before making any voting decision, investors and security holders of CFAC V and Satellogic should read the proxy statement or consent solicitation, as applicable, and all other relevant documents filed or that will be filed with the SEC in connection with the Potential Business Combination as they become available because they will contain important information about the Potential Business Combination. Investors and security holders will be able to obtain free copies of the proxy statement, prospectus and all other relevant documents filed or that will be filed with the SEC by CFAC V and/or PubCo through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by CFAC V and/ or PubCo may be obtained by written request to CFAC V at CFAC V Acquisition Corp., 110 East 59th Street, New York, NY 10022. Participants in Solicitation CFAC V and Satellogic and their respective directors and officers may be deemed to be participants in the solicitation of proxies from CFAC V's stockholders in connection with the Potential Business Combination. Information about CFAC V's directors and executive officers and their ownership of CFAC V's securities is set forth in CFAC V's filings with the SEC. To the extent that holdings of CFAC V's securities have changed since the amounts printed in CFAC V's proxy statement, such changes have been or may be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the Potential Business Combination may be obtained by reading the proxy statement regarding the Potential Business Combination when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph. SATELLOGIC CONFIDENTIAL 3#4TRANSACTION SUMMARY CF Acquisition Corp. V ("CFAC V") business combination with Nettar Group, Inc. d/b/a Satellogic ("Satellogic") at a pro forma enterprise value of $850mm TRANSACTION HIGHLIGHTS TRANSACTION SIZE VALUATION CAPITAL STRUCTURE OWNERSHIP¹,6 $250mm cash in trust from CF Acquisition Corp. V ("CFAC V")¹ ● $100mm PIPE² ● ● ● ● ● ● ● $850mm pro forma enterprise value Implies highly attractive valuation relative to peers Satellogic shareholders are rolling 100% of their equity in the transaction³ $274mm cash to balance sheet to fund the company's growth plan¹4 $41mm in proceeds will be used for debt repayment -64% existing fully diluted Satellogic equity holders5 -27% SPAC including founder shares -9% PIPE Investors² 1 Assumes no redemptions from CFAC V 2 Includes $33mm from Cantor Fitzgerald (including $10mm forward purchase agreement) and -$20mm from pre-PIPE funding 3 If up to two existing Satellogic convertible note holder(s) give(s) notice of their election to redeem their convertible notes, Satellogic and CFAC V will cooperate to arrange for the assignment (or replacement) of such notes 4 Assumes $35mm of transaction expenses 5 Includes 16.2 million pro forma shares (-14%) in the form of a warrant to an investor that may be exercised only in connection with a sale of the underlying shares 6 Excludes 8.3mm warrants held by the SPAC stockholders and 0.2mm warrants held by Sponsor; excludes 30% of sponsor promote subject to vesting at $12.50, $15.00 and $20.00 SATELLOGIC CONFIDENTIAL 4#5OVERVIEW OF SPONSOR HOWARD LUTNICK Chairman and Chief Executive Officer Cantor Fitzgerald SATELLOGIC Joined Cantor Fitzgerald in 1983 and was appointed President and CEO in 1991. Named Chairman in 1996 Chairman and CEO of BGC Partners, Inc. (NASDAQ: BGCP), Executive Chairman of Newmark Group, Inc. (NASDAQ: NMRK) and Chairman and CEO of each SPAC sponsored by Cantor Fitzgerald Longest serving CEO of any U.S. Federal Reserve Primary Dealer Acquired Newmark Knight Frank in 2011 and created 4th largest US real estate services firm CANTOR Fitzgerald Cantor Fitzgerald, founded in 1945, is a leading Investment Bank led by a highly experienced executive team including Howard Lutnick, Chairman and CEO, and Anshu Jain, President. Cantor has a leading SPAC sponsorship franchise and is a leading SPAC underwriter for third parties Cantor is the largest broker-dealer private partnership on Wall Street with over $300 trillion of financial transactions annually covering more than 5,000 fixed income and equities clients; Cantor is 1 of 24 Primary Dealers of U.S. Treasuries Cantor's Financial and Real Estate Services businesses have over 12,000 employees primarily across Cantor Fitzgerald, BGC Partners, Inc. (NASDAQ: BGCP) and Newmark Group, Inc. (NASDAQ: NMRK) Cantor's leading SPAC franchise: • CFAC I combined with GCM Grosvenor (NASDAQ: GCMG) in November 2020 • CFAC II combined with View, Inc. (NASDAQ:VIEW) in March 2021 • CFAC III announced pending combination with AEye, Inc. in February 2021 CONFIDENTIAL 5#6INVESTMENT HIGHLIGHTS ‘O Vastly superior unit economics for high resolution imagery with remapping capability 4 Assumes no redemptions from CFAC V 5 Assumes $35mm of transaction expenses SATELL GIC 1 Source: Euroconsult 2 Does not include 4 satellites launched on June 30, 2021 that are not yet operational 3 See page 53 for the financial model Massive $140bn+ TAM¹ opportunity unlocked by near zero marginal cost structure and SaaS platform Differentiated and proven technology with 13 satellites already in orbit² $2.1bn sales pipeline for multi-year long-term contracts Powerful and highly scalable business model Transaction expected to fund business plan, with additional opportunities for acceleration and incremental value creation through M&A3,4,5 CONFIDENTIAL 6#7PRESENTERS SATELLOGIC EMILIANO KARGIEMAN | CEO & Founder 25+ years building technology and technology companies Co-founded Core Security Technologies: developed the first automated penetration testing software, has worked with clients such as Apple, Cisco, Homeland Security, NSA, NASA and Lockheed Martin ● Co-founded GarageLab, a problem-solving laboratory based on an innovative multidisciplinary approach involving science, technology, art and business RICK DUNN | CFO 25+ years of financial leadership including executive roles in both public and private companies as well as over 10 years in public accounting ● Co-founded and served as Managing Director of venture capital firm Aconcagua Ventures: invested in high-tech startups to develop them as global businesses • CFO at PowerTeam Services: helped sell the company to new private equity owners in September 2018 ● CFO at ACN, Inc. (a wireless operator and energy reseller) and Trilogy International Partners (a wireless carrier) Corporate Controller at Western Wireless International 10+ years in public accounting with Grant Thornton LLP ● CONFIDENTIAL 7#8SATELLOGIC IS CREATING A SEARCHABLE EARTH¹ GLOBAL DAILY REMAPPING OF EVERY SQFT 1 Based on full constellation of 300 satellites 2 Source: Euroconsult SATELLO GIC With the ability to provide additional layers of insight... Scene Classification Predictive Models ******* WARNA WHE CEPERANGAN ARE SESPEZZAMMIS terenie www.w I WILALOME *** HASSEE MOR The tice of t www www. van we www wa T MEMER Object Identification Driving better decision-making across industries to unlock a $140Bn+ TAM² ****** UPDATED CATALOG OF EVERYTHING ON EARTH Change Tracking CONFIDENTIAL 8#9Port of Cartagena, Colombia Image captured by NewSat-8 FINE BY Chet Int OFFL TAYA SATELL GIC#10Port of Cartagena, Colombia Image captured by NewSat-8 Barcelona Marina, in image captured by Sat-15 SORT w bound BYRAG METE Panama Canal, Panama Image captured by NewSat 8 O Cape Town, South Africa Image captured by NewSat-15 HONEY hu SATELLOGIC®#11Abu Dhabi Marina, UAE Image captured by NewSat-8 1ay Jung IMAMALARS 26 12 200 sebs TER 4a Te 30 130 SATELLOGIC#12Abu Dhabi Marina, UAE Image captured by NewSat-8 Botafogo Bay Rio de Janeiro, Brazil Image captured by New So 94434 SHANA L'ENR WHOLAN gray- n AMI KS Melbourne, Australia Image captured by NewSat-11 Oroville Lake, CA, USA Image captured by NewSat-4 SATELLOGIC#13Aircraft Boneyard, Tucson, AZ, USA Image captured by NewSat-16 拜 拼车 新 韓 手 全国学 SATELL GIC#14ca Teang's n Aircraft Boneyard, Tucson, AZ, USA Ange Image captured by NewSat-16 1-47 Ben Gurion International Airport, Teliv, Israel Image captured by NewSat-8 *0986 1.1. KONGKERE 34 www.****. you Yonaguni Airport, Okinawa, Japan Image captured by NewSat-8 C:C:C Chhatrapati Shivaji Maharaj International Airport, Mumbai, India Image captured by NewSat-8 BEID SATELLOGIC#15Melbourne, Australia Image captured by NewSat-11 0 131239 11 1500 FLET 25 SATELLOCI NY Hipla#16Ortigueira, State of Parana, Brazil Image captured by NewSat-8 SATELLOGIC#17Abu Dhabi, UAE Image captured by NewSat-8 DENTI M 602 ISPARTIERBE 13 LE 1 4. Y SATELLOGIC#18O RainBow Bridge, Minato, Japan Image captured by NewSate8 Tih S=U = CIL LILLE LETR D Roman Cat LA SATELE GJC#19JEU Chicago, IL, USA Image captured by NewSat-5 CHRON Barcelona, Spai Image captured by Ne VEFT Texas, USA Image captured by NewSat-8 25-29 RESOR STORE SPEAUFE 1891 Fam restrele 100 TE Op COASTE LUGDYT Radiator METAMA C SATELLOGIC POS#20TAGA Komatipoort, South Africa Image captured by NewSot 4 SATELL GIC#21Saint Neots, UK Image captured by NewSat 8 SATELLOGIC#22Damtshaa Diamond Mine, Botswana Image captured by NewSat-8 ww SATELLOGIC#23Cardon Refinery, Falcon, Venezuela Image captured by NewSat-16 Megalopoli Power Plant, Greece Image captured by NewSat-10 wa a CODE REK Three Gorges Dam, Hubai, China Image captured by Newsat15 Capricorn Ridge Wind Farm, TX, USA Image captured by NewSat 8 SATELL GIC#24Mo'orea, French Polynesia Image captured by NewSat-8 A LIVE CATALOG OF EVERYTHING ON EARTH SATELLOGIC#25OUR MISSION Satellogic was built to help solve the greatest challenges of our time: Resource utilization and distribution FOOD SUPPLY Crop detection, maturity and health, yield prediction, supply chain management SATELLOGIC Global +0 ENERGY SUPPLY Infrastructure and production monitoring for O&G and renewables, smart-cities WATER SUPPLY Watershed monitoring, water quality assessment, reservoir levels, green infrastructure Detailed Solving them requires data that is: CLIMATE CHANGE Planetary health monitoring, natural disasters and associated economic impact Up-to-date Accessible IMMIGRATION Border control, monitoring migration routes Reliable CONFIDENTIAL 25#26THE CURRENT CATEGORY IS BROKEN Terrestrial methods of obtaining Earth Observation imagery have a number of critical shortcomings A: LONG LEAD TIMES SATELL GIC HIGH COST CANNOT SCALE CANNOT PROVIDE A GLOBAL SOLUTION MANUALLY OPERATED Earth Observation satellite data has had limited commercial applicability to date DEFENSE & INTELLIGENCE mill HIGH COST LIMITED CAPACITY SATELLOGIC IS THE SOLUTION OTHER SMALL SATELLITES LOW RESOLUTION NO REMAPPING CAPABILITIES CONFIDENTIAL 26#27SATELLOGIC HAS REDUCED UNIT ECONOMICS BY UP TO 100X¹ UNLOCKING A MASSIVE TAM² DESIGNED FROM THE GROUND UP Proprietary technology enables short R&D cycles and massive cost reduction MAPPING AT NEAR ZERO MARGINAL COST SATELLOGIC At scale, Satellogic will re-map the Earth daily A constellation that periodically scans the Earth's surface can serve any customer, with essentially no incremental expenses CREATING COSTS MATERIALLY BELOW OUR COMPETITORS¹ $56.07 $52.41 $38.81 MAXAR BLACK SKY GEN-2 AIRBUS DEFENCE & SPACE Pleiades TECHNOLOGIES WorldView-4 120x+ 110x+ 80x+ 1 Fully loaded acquisition cost per KM² includes constellation capital expenditures and s based on utilization estimate of 0.6% of available capacity; Source: Satellogic internal analysis based on publicly disclosed information and management estimates 2 Based on full constellation of 300 satellites 3 Source: Euroconsult $27.45 Satellogic's unmatched unit economics unlocks a $140bn+ market³ planet. SkySat 60x $0.46 SATELLOGIC Satellogic's acquisition cost per KM² is up to over 100x better than its competitors NewSat Mark-IV CONFIDENTIAL 27#28SATELLOGIC WILL BE THE ONLY COMPANY CAPABLE OF REMAPPING THE WORLD AT SUB-METER RESOLUTION AT THE FREQUENCY REQUIRED TO ADDRESS COMMERCIAL APPLICATIONS Sub-meter resolution with high-frequency represents an important threshold where significant commercial applications can be harvested Most applications require <1-meter weekly remaps <1m RESOLUTION 5m 10m ● Base maps ● Tax compliance AIRBUS DEFENCE & SPACE MAXAR TECHNOLOGIE Yearly Forestry Inventory. ● Cartography 1 Based on full constellation of 300 satellites 2 Source: Euroconsult - Earth Observation Report SATELLOGIC ● Pest Detection Tree ting ● Infrastructure Planning ● Exploration Infrastructure monitoring. Crop Type Estimation ● Land Use Landsat / Sentinel Soil monitoring ● Irrigation Monitoring Crop Health Monitoring Pipeline Monitoring ● Tillage Monitoring ● Yield Prediction ● Vegetative Indices Urban monitoring Weekly Fire Detection SATELLOGIC planet. Doves Monthly DATA FREQUENCY Agriculture Energy Forestry Infrastructure Daily 70cm 5m 10m Satellogic offers sub-meter resolution, which is the sweet spot to access +60% of the TAM² CONFIDENTIAL 28#29SATELLOGIC'S TECHNOLOGY IS PROVEN WITH THE ABILITY TO SCALE MORE CURRENT CAPACITY THAN NEXT 4 EO COMPANIES COMBINED¹ ABILITY TO MAP AT 0.7M RESOLUTION CURRENT CAPACITY TO REMAP THE ENTIRE PLANET MONTHLY SATELLOGIC HAS PROVEN TECHNOLOGY mm 120025 1 Assumes sub-1m resolution - EO Companies include: Airbus, Maxar, Planet and BlackSky - Source: Satellogic internal analysis based on publicly disclosed information and management estimates 2 Does not include 4 satellites launched on June 30, 2021 that are not yet operational SATELLOGIC $0 13 SATELLITES CURRENTLY IN ORBIT² GROUND STATIONS IN OPERATION MULTIPLE SUCCESSFUL DATA & SOLUTIONS PILOTS ...with the goal of reaching 300 satellites to remap the Earth daily by 2025 CONFIDENTIAL 29#30SATELLOGIC'S DIFFERENTIATED TECHNOLOGY Patented camera design gives Satellogic unique competitive advantages PATENTED OPTICAL TECHNOLOGY THE CHALLENGE • Motion blur ● Signal-to-noise BLUR SIGNAL-TO-NOISE 10 GRANTED PATENTS + 35 PENDING APPLICATIONS 1 GRANTED UTILITY MODEL Satellogic's approach is best suited for remapping CONTINUOUS CAPTURE WORLD COVERAGE SIZE/MASS & COST DAILY CAPACITY (KM²) REPRESENTATIVE COMPETITORS LARGE APERTURE ✓ 680k Maxar / WorldView-4 SPOTLIGHT MANEUVER X X Less than 30k BlackSky / GEN-2 1 Source: Satellogic internal analysis based on publicly disclosed information and management estimates SATELLOGIC -7 Km/s X X MULTIPLE IMAGE SATELLOGIC POSTPROCESSING NewSat Less than 40k 27,000 Km/h Planet / SkySat 300k+ (D 82 cm SATELLITE OPTIMIZATION THE CHALLENGE • To create a smaller, lighter and more cost-effective system SATELLOGIC REINVENTED THE SATELLITE FROM THE GROUND UP: 51 cm 10,000+ COMPONENTS 450 SUBASSEMBLIES IN LESS THAN 0.2 M³ AND 38.5 KG (DRY MASS) 57 cm O KG 3x LOWER MASS than any other EO small satellite¹ REDUCTION IN 3x LAUNCH COST than any other EO small satellite¹ 10x MORE CAPACITY than competitors¹ CONFIDENTIAL 30#31SATELLOGIC'S VERTICAL INTEGRATION / R&D Vertical integration enables Satellogic to have shorter R&D cycles, go to market quicker and reduce satellite costs by up to 80% vs. competitors¹ VERTICAL INTEGRATION Design, manufacturing and/or integration of every component enables: • 3x mass reduction from a typical design • 10x cost reduction compared to competitors¹ • Faster innovation cycle 1 Source: Satellogic internal analysis based on publicly disclosed information and management estimates SATELLOGIC COST REDUCTION $450k bill of materials vs. $10mm for competitors¹ SHORT R&D CYCLES 9-Month R&D development cycle ADVANTAGEOUS JURISDICTION • Reduced costs • Increased flexibility • More launch opportunities CONFIDENTIAL 31#32SATELLOGIC'S DIFFERENTIATORS Leveraging substantial competitive advantages in costs and camera technology for a disruptive new business model 10x capture capacity via proprietary camera technology vs. competitors¹ 10x CAPEX reduction through full satellite redesign vs. competitors¹ Scalability and quality assurance through vertical integration ಬುದ್ಧಿಯ Large constellation of satellites in orbit (scale) 1 Source: Satellogic internal analysis based on publicly disclosed information and management estimates SATELLOGIC سمجھا Increased demand Continuous capture Near Zero marginal cost $ Affordable Services Emerging economies of scale work to both consolidate demand and deter competition CONFIDENTIAL 32#33GO-TO-MARKET STRATEGY While we grow our constellation of satellites to deliver services to the commercial sector, we will be focusing on selling and delivering to our Government and Defense & Intelligence (D&l) clients that will help to finance the build out of our constellation 13 SATELLITES in operation¹ LONG-TERM CONTRACTS CURRENT MARKET • SATELLITE-AS-A-SERVICE • FINANCES CONSTELLATION 2020 60+ SATELLITES Weekly world remaps Near zero marginal cost GOVERNMENT, D&I 1 Does not include 4 satellites launched on June 30, 2021 that are not yet operational SATELLOGIC 2021 23 2024 25+ mom 300+ SATELLITES Daily world remaps ● SAAS SUBSCRIPTION MODEL SELF-SERVICE PLATFORM • DATA LAYERS COMMERCIAL CUSTOMERS NEW MARKET OPPORTUNITY CONFIDENTIAL 33#34SATELLOGIC HAS A BACKLOG OF ~$38MM WITH $2.1BN OF OPPORTUNITIES IN CURRENT PIPELINE 337 CSIS OPPORTUNITIES $2.1bn SELECT EXAMPLES CUSTOMERS CENTER FOR STRATEGIC & INTERNATIONAL STUDIES 中科光启7 ABDAS DISCOVER¹ 256 OPPORTUNITIES North American D&I customer North American Energy customer DISTRIBUTORS EUROPEAN SPACE IMAGING 41 QUALIFY² OPPORTUNITIES • APAC D&I customer APAC Research customer AMA 1 Discover: opportunities that have been identified at a market level through initial understanding of potential customer's needs 2 Qualify: opportunities that have been discovered & scoped with the potential customer in terms of budget and requirements. Purchase of intent validated 3 Validate: opportunities that have been discovered, qualified and where a strong match between potential customer needs and Satellogic's value proposition has been established. Purchase of intent of Satellogic's services has been established. Service deal has been structured SATELLOGIC HARVEST) 40 MYNDRAUTICA TAF VALIDATE³ PARTNERSHIPS/MEMBERSHIPS OPPORTUNITIES • Middle Eastern analytics customer APAC D&l customer APAC Disaster Response customer INSA INTELLIGENCE AND NATIONAL SECURITY ALLIANCE esri Backlog ~$38mm Near-term Pipeline5 $0.8bn Longer-term Pipeline6 $1.3bn Partner Network Bronze OGC® Making location con 4 Backlog: signed contract pending operational execution 5 Opportunities within the next 24 months in EO market. 6 Opportunities in greater than 24 months that require a larger satellite constellation 7 ABDAS is a Chinese data analytics company focused on agriculture that is partnered with the provincial government of Henan; the contract provides imagery of the Henan province for agricultural monitoring SMALLSAT -ALLIANCE- USGIF MEMBER CONFIDENTIAL 34#35SATELLOGIC HAS SUCCESSFULLY DEMONSTRATED THE USE OF ITS DATA IN VITAL APPLICATIONS APPLICATION OVERVIEW OUTCOME TAM¹ 1 Source: Euroconsult SATELLOGIC ENERGY Oil Pipeline Monitoring Major O&G company needed to monitor -3,000km of pipelines Monitoring by air biweekly at cost -$1,200/km Using satellites and machine learning, Satellogic demonstrated similar detection capabilities at costs of less than $100/km $10bn Oil Field Monitoring Major O&G company needed to monitor asset inventory ● Satellogic pilot demonstrated that its machine learning technology could successfully detect changes $10-12bn AGRICULTURE Precision Farming / Food supply chain ● Large agriculture company needed to survey ~50k hectares of crops to determine growth, yield levels and time harvesting ● Satellogic pilot demonstrated high detection capacity and ability to provide additional value-added layers of insight including accurate detection of rapeseed glooms and automated estimation of crop growth with +95% precision $10-12bn FORESTRY Forestry - tree count ● Paper producer needed to map tree cuts and evolution of new plantings Satellogic demonstrated that its machine learning technologies could deliver the required insights at fraction of the cost $2bn INFRASTRUCTURE Infrastructure planning for renewable energy projects ● Solar and wind producer needed to survey locations based on floor risk and quality of infrastructure Satellogic's machine learning technologies in combination with its satellites demonstrated their ability to give insights on flood zones, relative water depths, flows and terrain mapping $4bn Satellogic has already completed more than a dozen successful commercial pilots across verticals CONFIDENTIAL 35#36A GAME CHANGER FOR FINANCE AND INSURANCE PRECISE ESTIMATION OF COMMODITIES OUTPUT GEOSPATIAL RISK MODELLING REAL TIME IMPACT ASSESSMENT, DISASTER MANAGEMENT AND INSURANCE CLAIMS ESTIMATION SATELLOGIC Yield prediction of every agricultural field Wood cuttings across the globe • Energy output for every solar panel, wind farm, hydroelectric dam and thermal power plant Mineral output from open-pit mines Risk maps continuously updated including: Flood risk • Drought risk Fire risk Environmental risks (e.g., oil spills, agal blooms) ● Storm damage to aquaculture, ships and infrastructure • Droughts & floods Forest fires • Catastrophes, including explosions, oil spills, earthquakes, avalanches, tsunamis Letseng Diamond Mine, Lesotho Image captured by NewSat-81 FSO nabarima oil tanker, Gulf of Paria, Venezuela Image captured by NewSat-8 Port Explosion, Beirut, Lebanon Image captured by Newsat 8 CONFIDENTIAL 36#37A CRITICAL TOOL IN THE FIGHT AGAINST CLIMATE CHANGE REAL TIME PLANETARY HEALTH SATELLOGIC MONITORING INTELLIGENCE FOR RESOURCE EFFICIENCIES ● ● Ocean level, temperature and acidity Fractures in polar ice caps Global temperature Natural disasters Water distribution (droughts/floods) Early pest detection to minimize pesticides Water humidity levels to increase irrigation efficiency Early detection of oil spills Early detection of illegal deforestation & mining Maràmbio Base, Antarcticas Image captured by NewSat-4 CONFIDENTIAL 37#38MARKET OPPORTUNITY The key to unlocking a $140bn+¹ market opportunity lies in the ability to monitor the planet at a high resolution, at a high frequency and at the right price Low (Cents/km²) DATA COST High (Dollars/km²) CURRENT VAS MARKET CURRENT EO DATA MARKET Low (Months) WEEKLY WORLD NEAR-TERM OPPORTUNITIES $1.9bn¹ REMAPS $3.7bn¹ 1 Source: Euroconsult 2 Considers infrastructure monitoring and Telecom & Utilities 3 Considers cartography less infrastructure categories 4 Represents the market for Dedicated Satellite Services (DSC) SATELLOGIC $39.2bn¹ DATA FREQUENCY $140bn+¹ High (Days) INDUSTRY INFRASTRUCTURE ENERGY NATURAL RESOURCES FOOD SECURITY & SUSTAINABILITY CARTOGRAPHY / URBAN PATTERNS POLICY & GOVERNMENT APPLICATIONS Roads and Bridges, Trains, Ports and Airports, Dams, Power Plants O&G, Utility Networks, Alternatives, Security, Planning and Monitoring Deforestation, Pollution, Water Quality, Climate Change Agriculture, Aquaculture, Livestock, Food Security Autonomous Vehicles, Cadastral and Contextual Information, Zero-day, Maps Border and Maritime Security, Planning, Taxation, Disaster Response, National Local City TAM -$16-18bn¹,2 -$38 - 50bn¹ ~$6bn¹ -$30bn¹ -$55-65bn¹.3 -$1bn¹,4 New Applications, New Customers, Near Zero Marginal Cost CONFIDENTIAL 38#39SATELLOGIC HAS A SUPERIOR PRODUCT TO NEW SPACE COMPETITORS RESOLUTION (MULTISPECTRAL IMAGING) VIDEO CAPTURE COST OF SATELLITE SATELLITE MANUFACTURER DAILY CAPTURE CAPACITY PER SATELLITE (IMAGING) KM² OPERATIONAL SATELLITES SATELLITES NEEDED FOR WEEKLY WORLD REMAPS CONSTELLATION CAPEX (REQUIRED FOR WEEKLY WORLD REMAPS) SATELLOGIC NEWSAT 70cm <1mm SATELLOGIC 300k Source: Satellogic internal analysis based on publicly disclosed information and management estimates; BlackSky investor presentation and press releases 1 Does not include 4 satellites launched on June 30, 2021 that are not yet operational SATELLOGIC 13¹ 60 $60mm BLACK SKY GEN-2 100cm X ~10mm LeoStella (JV with Thales Alenia) 29k 6 732 $7.3bn CONFIDENTIAL 39#40SATELLOGIC HAS A SUPERIOR PRODUCT TO NEW SPACE COMPETITORS EVER GIVEN container ship blocking the Suez Canal, Egypt SATELLOGIC Image captured by NewSat-16 All pictures were downloaded from companies' public twitter posts on March 26, 2021 SATELLOGIC BLACK SKY A 201 CONFIDENTIAL planet. 40#41SATELLOGIC HAS A SUPERIOR PRODUCT TO NEW SPACE COMPETITORS AND A MASSIVE COST ADVANTAGE EVER GIVEN container ship blocking the Suez Canal, Egypt SATELL GIC Image captured by NewSat-16 SATELLOGIC NEWSAT 1-18 Satellite cost: < $1mm Weight: 38.5 kg Design life: 3-4 years (estimated service life: 4-5 years) All pictures were downloaded from companies' public twitter posts on March 26, 2021 1 https://spacepolicyonline.com/news/enhancedview-news-not-so-rosy-for-geoeye/ 2 https://directory.eoportal.org/web/eoportal/satellite-missions/v-w-x-y-z/worldview-4 3 https://spacenews.com/soyuz-launches-french-pleiades-imaging-satellite/ 4 https://earth.esa.int/web/eoportal/satellite-missions/p/pleiades 5 https://pleiades.cnes.fr/en/PLEIADES/index.htm MAXAR WORLDVIEW-3 Satellite cost: $835mm¹ Weight: 2,087 kg² Design life: 7 years² (estimated service life: 10-12 years) EVERGREEN AIRBUS DEFENCE & SPACE PLEIADES-1B Satellite cost: $425mm³ Weight: 940 kg4 Design life: 5 years5 (estimated service life: 7-8 years) CONFIDENTIAL 41#42SATELLOGIC WILL BE THE INFORMATION PLATFORM FOR PLANET EARTH HIGH-RESOLUTION, EO DATA ON A DAILY BASIS An updated Catalog of everything on Earth¹ 1 Based on full constellation of 300 satellites SATELLOGIC CANCER AVAILABLE THROUGH UI AND APIS TO CUSTOMERS AND 3RD PARTY DEVELOPERS SATELLOGIC 0 CO TO ENABLE A BROAD RANGE OF VALUE-ADDED SERVICES Count ships in a harbor Sense humidity levels in a field Identify trees in a forest Locate and Identify planes CONFIDENTIAL 42#43MANAGEMENT TEAM EMILIANO KARGIEMAN CEO & Founder Co-founded Core Security Technologies, Garage Labs and Aconcagua Ventures DANIEL SMULOVITZ VP of Marketing Core Security Technologies, Neoris, Samconsult SATELLOGIC GERARDO RICHARTE CTO/CISO & Founder Co-founded Core Security Technologies, and Disarmista; World Bank FEDERICO HANSSEN VP of Manufacturing Procter & Gamble, Shell Oil, Mondelez RICK DUNN CFO PowerTeam Services, ACN, Inc., Trilogy International Partners, Western Wireless International, Grant Thornton LLP DIONISIO DÍAZ GONZÁLEZ VP of Satellite Engineering Mynaric Lasercom, German Aerospace Center AVIV COHEN COO & Chief of Staff Fraud Sciences, PayPal, Core Security Technologies ALAN KHARSANSKY VP of Mission Operations Educational Robotics Projects and University Research Labs REBECA BRANDYS General Counsel CommScope Inc., Burger King Corporation, US sailing team, Stephenson Harwood ALBERTO SOLIÑO VP of Security SecureAuth, Core Security Technologies MATT TIRMAN Head of Satellogic NA Descartes Labs, Planet Risk Inc., Strategic Social, Accenture, Capgemini, and BCP Int'l Founder Access KEN SMITH VP & Global Controller Siemens THOMAS VANMATRE VP of Global Business Development Maxar, NGA, Awarded the Australian Intelligence Community MedallionGlobal MAXIMILANO WAISSBEIN VP of Finance Operations Core Security Technologies, Founded Tintoec LORRI KOHLER VP of Global Compliance ACN, Inc., Lenovo, Cisco Systems MAGGIE BELL VP of Tax PricewaterhouseCoopers CONFIDENTIAL 43#44PROJECT AND TECHNOLOGY ROADMAP Our plan is to continue to increase frequency and resolution towards a live view of planet Earth SATELLITES IN ORBIT SATELLITE CHARACTERISTICS (GSD RESOLUTION) DAILY REVISITS OF ANY POINT OF INTEREST PRODUCT LAUNCHES SATELLOGIC 2020 13 0.99m at 470 km 3 Government, D&I 2021 17 0.77m - 0.64m at 600 km - at 500 km 4 2022 Commercial Platform 37 8 2023 111 22 0.40m at 440 km Weekly World Remaps 2024 208 40 2025+ 300 0.30m at 330 km 60 Daily World Remaps CONFIDENTIAL 44#45LONG TERM GROWTH OPPORTUNITY: INFRASTRUCTURE TO EXTEND STAY AND PROSPERITY ON PLANET EARTH Constellation of mass-produced, inexpensive small satellites orbiting Earth will provide key services for the resiliency and growth of a thriving planet Satellite-as-a-Service ekly World Remaps Hyperspectral TODAY Daily World Remaps Permanent Monitoring Radar Imaging Spectrometry Thermal Infrared RF Monitoring EARTH OBSERVATION | $140Bn+ Market¹ 100s of satellites ENERGY Significant Market Potential 1 Source: Euroconsult 2 Comprised of Satellite Internet and Second Order Effects From Internet Services From Space - Source: UBS projections of the Space Economy by 2040 SATELLOGIC 5G Space base solar energy loT Data Collection 2030 Government COMMUNICATIONS | $1 Trillion+ Market² 1,000s of satellites Backhaul Satellite-to-Satellite 100,000s of satellites Enterprise 2040+ 2035 Broadband Internet Lasser Crosslink Global Laser Mesh Tiered Architecture for latency/bandwith optimization Optical Geostationary Relay We are building the key blocks to leverage large constellations of small satellites to deliver services to Earth: Complete, low cost satellite bus Modular satellite architecture High-throughput satellite manufacturing Satellite operations at scale Multi-payload in-orbit platform Inter-satellite laser mesh LEO/MEO/GEO complementarity CONFIDENTIAL 45#46INVESTMENT HIGHLIGHTS ‘O Vastly superior unit economics for high resolution imagery with remapping capability 4 Assumes no redemptions from CFAC V 5 Assumes $35mm of transaction expenses SATELL GIC 1 Source: Euroconsult 2 Does not include 4 satellites launched on June 30, 2021 that are not yet operational 3 See page 53 for the financial model Massive $140bn+ TAM¹ opportunity unlocked by near zero marginal cost structure and SaaS platform Differentiated and proven technology with 13 satellites already in orbit² $2.1bn sales pipeline for multi-year long-term contracts Powerful and highly scalable business model Transaction expected to fund business plan, with additional opportunities for acceleration and incremental value creation through M&A3,4,5 CONFIDENTIAL 46#47SATELLOGIC IN ACTION SATELLOGIC CONFIDENTIAL 47#48UPDATE SATELLOGIC WE SUCCESSFULLY LAUNCHED 4 MORE SATELLITES IN A SPACEX ROCKET ON JUNE 30TH! 11111 HANDVIOYEL DEPLOY DEPLOY DEPLOY These four new spacecraft will join the operational fleet in 6 to 8 weeks, as commissioning finishes DEPLOY 169 DEPLOY DEPLOY T+01:07:56 TRANSPORTER 2 CONFIDENTIAL 48#49FINANCIAL OVERVIEW B#50OFFERING PORTFOLIO Two unique and complementary business segments aimed at positioning the company in the larger information industry and at differentiating ourselves from traditional EO based products DESCRIPTION TARGET CUSTOMERS 1 Source: Euroconsult COMPETITIVE POSITIONING GO-TO-MARKET STRATEGY FACTS & FIGURES SATELLOGIC 1 GOVERNMENT, D&I Dedicated constellation of satellites mapping the world Governments and Fortune 100 companies The customer accesses a constellation with no technological risk and no initial investment 1st Direct sales + RFPs 2nd Partnerships CURRENT PIPELINE $2.1bn 2025 PROJECTED REVENUE $324mm 2 Planetary-scale dataset of affordable high-frequency, high-resolution, EO imagery & data, enabling application-specific solutions fueled by data analytics COMMERCIAL CUSTOMERS Existing users of EO imagery and new customers currently priced out of existing offering Low-end cost, high-volume; unique combination of Multispectral & Hyperspectral Imaging + analytical capabilities 1st Distributors 2nd Direct and Partnerships 3rd Self-serve automated platform TAM¹ $140bn+ 2025 PROJECTED REVENUE $463mm CONFIDENTIAL 50#51FINANCIAL PROJECTIONS ($mm) го $0 0 COMMERCIAL CUSTOMERS GOVERNMENT, D&I $7 7 0 REVENUE % GROWTH $47 41 6 $132 109 $365 139 226 $787 463 2020A 2021E 2022 2023E 2024E 2025E 1 Adj. EBITDA is a non-GAAP measure. See reconciliation of historic measure in Appendix SATELLOGIC 324 546% 181% 177% 115% $0 GROSS PROFIT % MARGIN $4 $40 2020A 2021E 2022E $109 $279 $593 2023E 2024E 2025E 61% 84% 83% 76% 75% ($17) ($32) ADJ. EBITDA¹ % MARGIN $49 $197 ($2) 2020A 2021E 2022E 2023E 2024E 2025E $473 37% 54% 60% CONFIDENTIAL 51#52AT SCALE, SATELLOGIC'S CAPEX BECOMES A DECREASING PERCENTAGE OF REVENUES AND PROFITS ($mm) # SATELLITES IN ORBIT 13 OTHER CAPEX SATELLITE REPLACEMENT CAPEX SATELLITE GROWTH CAPEX CAPEX AS A PERCENTAGE OF REVENUE 0 $9 8 2020A SATELLOGIC 8 17 $35 27 2021E 0 0 37 $63 56 2022E 6 23 111 $136 104 2023E 9 208 $169 13 19 137 2024E 300 27.7% $218 20 23 176 2025E 300 13.8% $186 33 152 2026E CONFIDENTIAL 0 52#53FINANCIAL SUMMARY ($mm) Satellites Launched Satellites Decommissioned Satellites in Orbit Defense & Intelligence revenues Commercial platform revenues Total revenues % growth COGS Gross profit % margin Sales & Marketing Research and Development General and Administrative Operating costs¹ Adj. EBITDA² % margin Cash flow Adj. EBITDA² Less: capex Free cash flow³ 2020A 13 0 13 0 0 $0 0 $0 1 12 5 $17 ($17) (17) (9) ($27) 2021E 407 17 7 0 $7 3 $4 61% 7 21 Note: Projections exclude the impact of future acquisitions 1 Net of other operating income and excludes depreciation of satellites and other property and equipment and share-based compensation expense 2 Adj. EBITDA is a non-GAAP measure. See reconciliation of historic measure in Appendix 3 Free cash flow defined as Adj. EBITDA less capex SATELL GIC 8 $36 ($32) (32) (35) ($67) 2022E 20 0 37 41 6 $47 546% 7 $40 84% 5 26 11 $41 ($2) (2) (63) ($64) 2023E 87 (13) 111 109 23 $132 181% 23 $109 83% 7 38 15 $60 $49 37% 49 (136) ($87) 2024E 100 (3) 208 226 139 $365 177% 86 $279 76% 13 49 20 $82 $197 54% 197 (169) $28 2025E 113 (21) 300 324 463 $787 115% 194 $593 75% 30 63 27 $120 $473 60% 473 (218) $255 CONFIDENTIAL 53#54STRONG FINANCIAL MODEL NET REVENUE GROWTH (YEAR OVER YEAR) GROSS MARGIN ADJ. EBITDA MARGIN¹ CAPITAL EXPENDITURES (% NET REVENUE) 1 Adj. EBITDA is a non-GAAP measure. See reconciliation of historic measure in Appendix SATELLOGIC 200%+ 2021E-2025E CAGR ~75% MANTAINED THROUGH 2025E 60%+ ACHIEVED BY 2025E <15% AFTER 2026E Supported by opening up the commercial market (weekly remaps in 2022/2023, daily in 2025) Attractive gross margins driven by minimal incremental cost of additional revenue Significant operating leverage accompanying growth and scale of the business No significant growth capex required after 2025 despite continued scaling of revenues CONFIDENTIAL 54#55[I ***MEMAN TRANSACTION OVERVIEW HAPLIN#56DETAILED TRANSACTION OVERVIEW ($mm) Transaction Highlights • Transaction expected to fund business plan, with additional opportunities for acceleration and incremental value creation through M&A¹,2 • $100mm PIPE, including $53.5mm from pre-PIPE and Sponsor Pre-PIPE Funding: ~$20mm convertible at PIPE pricing Investors include Marcos Galperin (Founder/CEO, Mercado Libre) and Javier Olivan (VP of Central Products, Facebook) Sponsor Commitment:~$33mm investment • All existing Satellogic equity will be rolled over in transaction4 • Majority of company shareholders are subject to a 12-month lock-up⁹ Sources & Uses Sources Satellogic Rollover Equity SPAC Cash in Trust¹ PIPE Capital5 Sponsor shares Total Sources 1 Assumes no redemptions from CFAC V 2 Assumes $35mm of transaction expenses. $722 $250 $100 $52 $1,124 Uses Satellogic Rollover Equity Cash to balance sheet Debt repayment Transaction expenses/ fees Sponsor shares6 Total Uses $722 $274 $41 $35 $52 $1,124 Pro Forma Capitalization Pro Forma Shares Outstanding Equity Value Cash¹,2 Debt³ Enterprise Value Sponsor shares -5% Pro Forma Ownership PIPE5 -9% O Selected Investors fundopitanga TUESDAY SPAC -22% 3 Does not factor liabilities related to warrants pursuant to guidance provided in ASC Topic 815-40 4 If up to two existing Satellogic convertible note holder(s) give(s) notice of their election to redeem their convertible notes, Satellogic and CFAC V will cooperate to arrange for the assignment (or replacement) of such notes 5 Includes -$33mm from Cantor Fitzgerald (including $10mm forward purchase agreement) and -$20mm from pre-PIPE funding 6 Includes Sponsor Private Placement and Sponsor FPA Incentive; excludes 30% of Sponsor Promote representing 1.9mm shares subject to vesting with 0.6mm shares vesting at $12.50, 0.6mm shares vesting at $15.00 and 0.6mm shares vesting at $20.00 7 Includes 16.2 million pro forma shares (-14%) in the form of a warrant to an investor that may be exercised only in connection with a sale of the underlying shares 8 Excludes 8.3mm warrants held by the SPAC stockholders and 0.2mm warrants held by Sponsor 9 Excludes a single shareholder / convertible noteholder, a single convertible noteholder, and the warrant holder, all of whom are subject to a minimum 6-month lock-up; 12-month lock-up subject to customary price-based early release SATELLOGIC ENDEAVOR CATALYST 112.4 $1,124 $274 Satellogic equity holders' -64% $850 VALOR CONFIDENTIAL 56#57SELECTED PUBLIC COMPARABLE UNIVERSE FOR SATELLOGIC Space Economy Hom apo GALACTIC AST SpaceMobile Aspire SATELLOGIC MOMENTUS BLACK SKY ASTRA ROCKET LABD Expanding use cases for space technologies X Mostly unproven technologies Data & Analytics / SaaS alteryx elastic stack QPalantir splunk> DATADOG mongoDB. snowflake sumo logic Data-driven solutions High, durable growth with operating leverage Category Creators SPACEX PELOTON S shopify Roku T TESLA airbnb NETFLIX mercado libre Creating new / dramatically disrupting existing markets First mover advantage CONFIDENTIAL 57#58SELECTED PEER OPERATIONAL BENCHMARKING REVENUE GROWTH ADJ. EBITDA MARGIN¹ ESTIMATED TAM PROVEN TECHNOLOGY SATELLOGIC 269% 54% -$140bn Source: Company filings, investor presentations, Euroconsult and FactSet as of 06/30/2021 Note: Space Economy, Data & Analytics / SaaS and Category Creators figures represent peer set medians 1 Adj. EBITDA is a non-GAAP measure. See reconciliation of historic measure in Appendix SATELLOGIC BLACK SKY 113% ¹21-'24E 46% 2024E -$40bn SPACE ECONOMY MOMENTUS AST Aspire BLACK SKY AASTRA 373% 36% -$91bn DATA & ANALYTICS / SaaS alteryx DATADOG elastic stack mongoDB. QPalantir snowflake splunk> sumo logic 28% 11% ¹21-'23E 2023E CATEGORY CREATORS SPACEX T PELOTON airbnb Sshopify NETFLIX Roku AV mercado libre 29% 15% ✓ CONFIDENTIAL 58#59SELECTED PEER VALUATION BENCHMARKING EV / REVENUE 2.3x SATELLOGIC 2.8x BLACK SKY EV/2024E Source: Company filings, investor presentations and FactSet as of 06/30/2021 Note: Multiples for BlackSky, Astra, Momentus, Spire and Rocket Lab reflect EV based on current SPAC share price applied to PF capital structure SATELLOGIC SPACE ECONOMY 3.0x GALACTIC AST Aspire MOMENTUS BLACK SKY ★ ASTRA ROCKET LAB 21.0x DATA & ANALYTICS / SaaS alteryx elastic stack Q Palantir splunk>> DATADOG mongoDB. snowflake sumo logic 11.2x CATEGORY CREATORS T TESLA EV/2022E SPACEX PELOTON Sshopify Roku airbnb NETFLIX AVA mercado libre CONFIDENTIAL 59#60TRANSACTION IS PRICED AT A MEANINGFUL DISCOUNT TO PEER MULTIPLES TRANSACTION VALUE ($ in billions) $0.85 SATELLOGIC $3.2 $2.1 1 Adj. EBITDA is a non-GAAP measure. See reconciliation of historic measure in Appendix SATELLOGIC RELATIVE VALUATION -210% premium at mid-point Discounted EV implied by 10.0x 15.0x 2024E revenue of $365mm $5.7 $3.8 -460% premium at mid-point Discounted EV implied by 10.0x - 15.0x 2025E revenue of $787mm SUMMARY OF APPROACH • Applied a range of forward multiples to Satellogic's 2024E and 2025E management forecasted revenue and then discounted back 3 and 4 years, respectively, assuming a 20% discount rate 10 - 15x revenue multiple range informed by Data & Analytics / SaaS and Category Creators median multiples • Multiples applied to 2024E and 2025E revenues given Satellogic's much higher growth potential and ramp to -60% Adj. EBITDA¹ margin by 2025 CONFIDENTIAL 60#61Un APPENDIX G DOPRA The sto P#62SELECTED PEER OPERATIONAL AND VALUATION BENCHMARKING REVENUE GROWTH ADJ. EBITDA MARGIN¹ EV / REVENUE 269% 113% SATELLOGIC BLACK SKY 54% Langen 22% 29% 27% 28% 29% elastic stack mongoDB Palantir snowflake splunk> sumo logic airbnb DALADOG 46% N/M SPACE ECONOMY 95% SATELLOGIC BLACK SKY 480% 2.3x 2.8x 2.1x AST ASTA ASTRA MOMENTUS ROCKET LAB Aspire (21-24E 373% 31% SATELLOGIC BLACK SKY ASTA ASTRA MOMENTUS ¹24E 3.5x 56% ASTRA 1.3x 87% MOMENTUS EV/2024E Average: 294% Median: 373% 424% 26% 107% Michaladapte 18% 14% 14% 7% alteryx QPalantin elastic stack mongoDB. 10.0x Average: 45% Median: 36% 41% ROCKET LAB Aspire Average: 7.8x Median: 3.0x 27.6x 2.6x alteryx ROCKET LAB Aspire 8.9x alteryx Source: Company filings and FactSet as of 06/30/2021 Note: N/M denotes "not meaningful" due to no available data or negative values; 1 EV based on current SPAC share price applied to PF capital structure 1 Adj. EBITDA is a non-GAAP measure. See reconciliation of historic measure in Appendix SATELLOGIC DATA & ANALYTICS /SaaS 28.9x FEE DALADOG 15.5× 1% 26.4x elastic stack mongoDB 30% 32.3x 62% QPalantir Average: 30% Median: 28% 1% 24% 19% Average: 11% Median: 11% 11% 21-23E snowflake splunk> N/M '23E sumo logic airbnb Average: 22.1x 47.6x Median: 21.0x 25% 8.9x 8.5x 18% EV/2022E CATEGORY CREATORS 14.6x snowflake splunk> sumo logic airbnb 35% 10% 9.1x 15% 28% 27% 12% 36% NETFLIX PELOTON ROKU shopify T 7.3x 6.9x 15% Average: 29% Median: 29% 37% 16.7x NETFLIX PELOTON ROKU shopify Average: 17% Median: 15% 14% 29% NETFLIX PELOTON ROKU shopify 21% T TESLA Average: 13.7x Median: 11.2x 29.9x 11.2x T CONFIDENTIAL 62#63NON-GAAP ADJUSTED EBITDA RECONCILIATION SATELLOGIC ($000) Net result for the year (loss) Plus: Income tax (benefit) expense Plus: Finance costs Less: Finance income Less: Other financial income (expense) Plus: Depreciation of satellites and other property and equipment EBITDA Plus: Embedded derivative loss (income) Plus: Share-based compensation expense ADJ. EBITDA 2019 (20,765) 83 4,501 (398) 112 4,238 ($12,229) (4,230) 960 ($15,499) 2020 (113,926) 148 7,566 (79) (597) 3,182 ($103,705) 84,224 1,985 ($17,497) CONFIDENTIAL 63#64FINAL TRANSACTION STRUCTURE SATELLOGIC SPAC Shareholders Target Shareholders Satellogic Inc (BVI) CF Acquisition Corp. V (Delaware) Nettar Goup Inc. (dba Satellogic) (BVI) CONFIDENTIAL 64#65OUR PATENTED APPROACH IS AN ALTERNATIVE FOR WORLD REMAPS MASS (kg) COST (mm)¹ DAILY CAPACITY (km²) SATELLOGIC PROS CONS MAIN PLAYERS 1 Includes cost of launching 2 https://directory.eoportal.org/web/eoportal/satellite-missions/v-w-x-y-z/worldview-4 3 https://spacepolicyonline.com/news/enhancedview-news-not-so-rosy-for-geoeye/ Large Aperture (e.g. WorldView-4) 2,087 ² 835 3 680,000 ² More photons Short exposure time Big size and mass Maxar (Digital Globe), Airbus Spotlight Maneuver (e.g. GEN-2) 56 4 105 29,040 6 Medium/small aperture Long exposure time Continuous capture not possible; limited capacity Black Sky, Earth-I, ImageSat Sprinter Multiple image postprocessing (e.g. SkySat) 1207 10 8 26,667 ⁹ Medium/small aperture Short exposure time Volume of data limits the capture capacity Planet (SkySat) 4 https://space.skyrocket.de/doc_sdat/blacksky-global.htm 5 Due dilligence report Euroconsult - Satellogic (page 57) 6 https://www.blacksky.com/2016/11/14/spaceflight-industries-shares-first-images-from-blacksky-pathfinder-satellite-claims-mission-success/ SATELLOGIC NewSat Mark-IV 38.5 1 300,000+ Small aperture Long exposure time 7 mass - https://space.skyrocket.de/doc_sdat/skysat-3.htm 8 daily capacity - https://developers.planet.com/docs/data/skysat/#skysat-imagery-products 9 Euroconsult - Earth Observation Data & Services Market Report - 13th Edition (page 131) CONFIDENTIAL 65#66SATELLOGIC'S SYSTEMATIC APPROACH TO SATELLITE BUSINESS TECHNOLOGY AND DESIGN Satellogic designs all of the strategic components of its satellites in-house Satellogic is currently baselining the security environment in preparation for certification with the Cybersecurity Maturity Model Certification (CMMC) All key sourced components undergo a technical specification review and validation by Satellogic engineers Our strategic suppliers each hold ISO 9001 certifications SATELLOGIC MANUFACTURE AND LAUNCH Satellogic assembles and tests all components for its satellites in-house Satellogic verify the integrity of the systems and software at every key stage • before shipping at reception at the launch facility • before integration to the launch vehicle after first turn-on in orbit OPERATE Satellogic directly controls, manages, and operates all of its satellites Customer directed tasking is managed through Satellogic owned and operated systems Satellogic processes all imagery in-house and securely stores that imagery in a managed, hosted cloud environment Satellogic has developed its own software to monitor and detect operational anomalies Satellogic conducts routine integrity checks of on-board software and firmware CONFIDENTIAL 66#67GLOBAL FOOTPRINT BUSINESS DEVELOPMENT + SALES Miami SATELLOGIC FINANCE Charlotte DEVELOPMENT TEAM Corboba SATELLITE R&D + MISSION OPERATIONS Buenos Aires SOLUTIONS Barcelona MANUFACTURING AND ASSEMBLY Montevideo PRODUCT DELIVERY PLATFORM Tel Aviv BUSINESS DEVELOPMENT + SALES Beijing 240+ EMPLOYEES CONFIDENTIAL 67#68COMPANY TIMELINE 2010 Satellogic was founded 2011 SATELLOGIC 2012 First prototype tested 2013 2014 Launched first and second prototypes Design patent granted 2015 Launched first prototype with camera Completed manufacturing facility 2016 2017 Launched two full satellites (NewSat 1&2) 2018 Launched one commercial satellite (NewSat 3) Signed first commercial contract Secured dedicated launches contract 2019 Launched two commercial satellites (NewSat 4&5) Approved to launch with Arianespace (July 2019) and SpaceX (Dec 2019) Signed first DSC Contract 2020 2021 Launched 13 commercial satellites (NewSat 6-18), Including first dedicated launch Launched four commercial satellites (NewSat 19-22) CONFIDENTIAL 68#69SATELLOGIC NOW YOU SEE