BlackSky Investor Presentation Deck

Q1 Imagery and Analytics Cost of Sales 97% incremental contribution margin improvement for imagery and analytics (1) Increased revenue of high-margin imagery and analytics drove improved performance Low fixed-cost structure for imagery and analytics delivers improved operating leverage BLACK SKY O BlackSky 2023. All rights reserved. Confidential & Proprietary. 97% Incremental Contribution Margin Improvement Over Prior Year (¹) ($ in millions) I I I I I I $7.4 $3.3 Q1'22 +$8.4 97% + $0.3 $15.8 $3.6 Q1'23 Imagery & Software Analytical Services Revenue Adjusted Imagery & Software Analytical Services Cost of Sales (¹) (1) Adjusted imagery and software analytical services cost of sales is a non-GAAP financial measure. See Appendix for a reconciliation to the most comparable measure reported in accordance with GAAP. 23

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