03-2025 INFESTOR UPDATE Sir Peter Beck, CEO Adam Spice, CFO November 10, 2025 ROCKETLAB Forward Looking Statements This presentation may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this presentation, including statements regarding our expec ...

Summary of Firefly Aerospace Conference Call on Acquisition of SciTech Incorporated Industry and Company Involved - **Company**: Firefly Aerospace (NasdaqGM: FLY) - **Acquisition Target**: SciTech Incorporated - **Industry**: Aerospace and Defense Core Points and Arguments 1. **Acquisition Announcement**: Firefly Aerospace has entered into an agreement to acquire SciTech Incorporated, enhancing its capabilities in software and data processing for defense applications [2][5]. 2. **Strategic Importance**: The acquisition is part of Firefly's strategy to bolster its four revenue-generating product lines and enhance its software capabilities, which are crucial for growth and diversification [5][6]. 3. **Complementary Strengths**: Firefly's hardware capabilities are likened to a smartphone, while SciTech's software is compared to the apps on that smartphone, indicating a synergistic relationship that will enhance overall service offerings [6]. 4. **SciTech's Expertise**: SciTech brings over four decades of experience in operational defense software applications, including AI and machine learning for data exploitation, which will significantly enhance Firefly's offerings [7][8]. 5. **Recent Achievements**: SciTech recently completed the operational acceptance of the US Space Force's FORGE program, showcasing its capability to process vast amounts of satellite data for missile warning and tracking [9]. 6. **Market Opportunity**: The combined capabilities of Firefly and SciTech position them to pursue the $175 billion Golden Dome program, which involves comprehensive missile defense solutions [9][10]. 7. **Future Vision**: The acquisition aims to transition data processing from ground-based to hybrid ground and on-orbit systems, improving service categories for both Earth and space missions [10][11]. 8. **Cultural Fit**: SciTech's workforce, primarily composed of PhDs and software developers, aligns well with Firefly's mission-focused and innovative culture [11][12]. 9. **Financial Details**: The acquisition is valued at approximately $855 million, consisting of $300 million in cash and $555 million in equity, with plans to close the deal by year-end [13]. 10. **Operational Structure Post-Acquisition**: SciTech will operate as a subsidiary under its current business model, led by CEO Jim Lisowski, reporting to Firefly's leadership [13][14]. Other Important Content - **Regulatory Approval**: The acquisition is subject to regulatory approvals and customary conditions [13]. - **Future Updates**: Firefly plans to provide further updates regarding the acquisition in its upcoming third-quarter financial results call [3].

Space Exploration & Comet Research - A comet, traveling at 25,000 kilometers per hour, is approaching the solar system and will be targeted by the Comet Interceptor mission [1][3] - The Comet Interceptor mission, funded by the European Space Agency in collaboration with the Japanese Space Agency, aims to study a comet coming close to the sun for the first time [3][24] - Comets are believed to have delivered organics and water to Earth, crucial for the formation of life, but also pose a threat of impacts [12][13][14] - Missions to processed comets have limitations, necessitating a mission to an unchanged comet from the Oort cloud, which contains hundreds of billions or even trillions of comets [23][24][25] - The Comet Interceptor mission will park in a stable orbit, wait for a suitable comet, and then intercept it for a few hours to collect data [29][30][31][32] Planetary Defense & Space Mission Strategy - The mission aims to test the strategy of parking in space until a target is identified, which could be used for planetary defense against hazardous objects [33][34] - Developing instruments for space exploration is a time-consuming task, requiring years or even decades of rigorous testing [27] Scientific Significance - Asteroids and comets are relics from the early solar system, with asteroids forming closer to the sun and comets forming in the outer solar system [7] - Studying comets can provide insights into the materials from the outer solar system, where ice is preserved [22]

Core Viewpoint - Intuitive Machines stock has shown resilience despite a downgrade from Bank of America, indicating potential investor optimism and future growth prospects [2][4][5]. Group 1: Stock Performance and Analyst Ratings - Bank of America analyst Ronald Epstein lowered the price target for Intuitive Machines stock from $16 to $10.50, resulting in an "underperform" rating [2]. - Despite the downgrade, Intuitive Machines stock increased by 1.2% initially and continued to rise, gaining 5.1% by mid-morning [2][4]. - The stock's performance this year has been bolstered by a report of positive free cash flow of $13.3 million in Q1 [5]. Group 2: Future Profitability and Cash Flow Concerns - Analysts predict that Intuitive Machines will not achieve sustained profitability until at least 2027 and consistent positive free cash flow until 2028 [6]. - Management has cautioned about potential "cash receipt lumpiness" in Q2, which may lead to negative free cash flow [5][6]. Group 3: Growth Opportunities - Intuitive Machines has secured multiple NASA contracts for lunar missions, a Near Space Network communications contract, and is developing Earth reentry vehicles for semiconductor and space pharmaceutical clients, indicating a promising future [7].

Space Exploration & Astrobiology - The search for life beyond Earth is a scientific endeavor focused on identifying environments where life could exist, particularly on moons in the outer solar system [1] - Missions like Cassini-Huygens have revealed that moons like Titan possess characteristics that meet the classical criteria for habitability, including liquids, energy sources, essential elements, and a stable environment [1] - Future missions such as JUICE and Europa Clipper aim to explore Jupiter's moons (Ganymede, Callisto, and Europa) to determine their potential to support life [2] - The Dragonfly mission is scheduled to land on Titan in 2034 to investigate the chemical processes that could support life, including the possibility of non-water-based life [2] Historical & Philosophical Context - The field emphasizes the importance of challenging established beliefs (dogma) through continuous scientific discovery, drawing parallels to historical figures like Copernicus and Giordano Bruno [1] - Early discoveries, such as Galileo's observation of Jupiter's moons, have been repeatedly confirmed through ongoing scientific advancements [1] Mission Details & Discoveries - The Cassini spacecraft carried 12 instruments and the Huygens probe, which landed on Titan in 2005, marking the most distant landing in the solar system [1] - Cassini discovered that Titan has a nitrogen-based atmosphere, methane rain and clouds, organic compounds, and surface features like lakes, rivers, dunes, and cryovolcanoes [1]