Terran Orbital SPAC Presentation Deck

Operational Benchmarking Terran Forecasts More Modest Revenue Growth Than Other Space SPACS While Surpassing Industry Margins Revenue Growth TERRAN ORDITAL 75.8% '24P-'25P AST SATELLOGIC TERRANORDITAL 145.3% Adjusted EBITDA Margin 54.9% '25P 115.6% 97.5% 60.1% AST SATELLOGIC TERRAN ORBITAL 92.4% ASTRA 46.5% Aspire Median: 89.2% 91.0% Aspire 46.2% 89.2% Median: 44.7% ASTRA GALACTIC 44.7% BLACK SKY 84.3% REDWIRE 32.9% 66.4% Space SPACS ('24P - '25P) GALACTIC ROCKET LAB 22.4% ROCKET LAB Space SPACS (25P) 55.4% planet. 17.7% REDWIRE 41.5% BLACK SKY 14.9% 42.8% planet. AAC CLYDE SPACE 61.7% 34.7% ***: iridium GOMSPACE Satellite Manufacturers / Constellations ('21P-'22P) 30.1% Globalstar Median: 10.9% Satellite Manufacturers / Constellations ('22P) 15.4% Viasat. 25.5% 6.4% Median: 23.4% MAXAR TECHNOLOGIES ***:: iridium 21.3% Viasat 5.2% MAXAR TECHNOLOGIES 21.1% GOMSPACE 3.3% Globalstar 6.8% AAC CLYDE SPACE 5.9% Large Defense / Space '21P - '22P 14.0% Large Defense / Space '22P Source: Company management, Company presentations, public filings, and Capital IQ as of October 22, 2021. Note: Large Defense /Space represents the median of L3Harris, Raytheon Technologies, Lockheed Martin, Thales, Northrop Grumman, General Dynamics, Airbus, Leidos, and Boeing. This slide includes the Non-GAAP financial measure Adjusted EBITDA Margin. See the Appendix for reconciliations of Non-GAAP financial measures for historical periods to the most comparable U.S. GAAP financial measures. 29

View entire presentation