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“ Collaboration with leading defense company ” Q4 2025 presentation © UNIBAP SPACE SOLUTIONS 2026 1
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Important information This presentation is for general information purposes only. The information does not constitute legal, tax, or investment adv ice . Trading in securities always entails a risk. Historical returns are not a guarantee of future returns. An investment in securities can increase or decrease in value, and it is not certain that you will recover the invested capital. Information regarding the company is based on information known to Unibap Space Solutions AB (publ.) (reg. no. 556925 - 1134) (" Unibap " or the " Company ") on the date hereof. Except as explicitly stated herein, no information provided herein has been reviewed or audited by the Company's auditor. Certain finan cia l and other information presented in this presentation have been subject to rounding adjustments for the purpose of making this presentation more easily accessible for the reader. As a res ult, the figures in tables may not sum up to the stated totals. The publication, disclosure, or distribution of this presentation may be subject to legal restrictions in certain jurisdictio ns, and individuals in those jurisdictions where this presentation has been published or distributed should inform themselves of and comply with such legal restrictions. The recipient of this presentat ion is responsible for using this presentation and the information herein in accordance with applicable rules in each jurisdiction. This presentation does not constitute an offer, or an invita tio n, to acquire or subscribe for any securities in Unibap in any jurisdiction, either from Unibap or from anyone else. This presentation does not constitute an offer or an invitation to acquire or subscribe for securities in the United States. The securities mentioned herein may not be sold or offered in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended (the "Securi tie s Act"). There is no intention to register any securities mentioned herein in the United States or to make a public offer of such securities in the United States. The information in t his presentation may not be published, disclosed, copied, reproduced, or distributed, directly or indirectly, in whole or in part, in or to the United States, Australia, Singapore, Ne w Z ealand, Japan, South Korea, Canada, Hong Kong, South Africa, Russia, Belarus or any other jurisdiction where such publication, disclosure, or distribution of this information would violate appli cab le laws or where such action is subject to legal restrictions or would require additional registration or other measures than what is required by Swedish law. Actions in violation of this instruct ion may constitute a breach of applicable securities laws. This presentation contains forward - looking statements concerning the Company's intentions, assessments, or expectations regardin g the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies, and opportunities, as well as the markets in which Unibap operates. Forward - looking statements are statements that do not relate to historical facts and can be identified by the fact that they contain expressions such as "believes," "expects," "foresees," " int ends," "estimates," "will," "may," "assumes," "should," "could," and, in each case, negations thereof, or similar expressions. The forward - looking statements in this presentation are based on various a ssumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward - looking statements are reasonable, it cannot be guaranteed that they will occur or that they are accurate. Since these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actua l r esults or outcomes may, for many different reasons, differ materially from those expressed in the forward - looking statements. Such risks, uncertainties, eventualities, and other significa nt factors may cause the actual events to differ materially from the expectations explicitly or implicitly stated in this presentation through the forward - looking statements. The Company does n ot guarantee that the assumptions underlying the forward - looking statements in this presentation are correct and each reader of the presentation should not unreasonably rely on the f orw ard - looking statements in this presentation. The information, opinions, and forward - looking statements expressly or implicitly stated herein are only provided as of the date of this presenta tion and may change. Neither the Company, nor any other person, undertakes to review, update, confirm or publicly announce any revision of any forward - looking statement to reflect even ts or circumstances that may arise with regard to the contents of this presentation, unless required by law. This presentation as well as any other information provided by or on behalf of Unibap in connection herewith shall be governed by Swedish law. The courts of Sweden, with the District Court of Stockholm as the first instance shall have exclusive jurisdiction to settle any conflict or dispute arising out of or in conn ect ion with this Presentation or related matters. © UNIBAP SPACE SOLUTIONS 2026 2
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Today’s presenters © UNIBAP SPACE SOLUTIONS 2026 3 Johan Åman CEO Henrik Fredin CFO
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Today’s agenda 1. Financials 2. Highlights - Hannes 3. European defense market 4. Ambitions - Johan © UNIBAP SPACE SOLUTIONS 2026 4
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0 20 000 40 000 60 000 80 000 100 000 120 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 Quarter Rolling 12 months Financials 5 5 Net revenues (KSEK) Net revenues in Q4 33,5 MSEK, +27% vs Q4 last year. The first order from Leonardo was received and delivered in Q4, amounting to 11 MSEK. + 11 % growth year - on - year. EBIT (KSEK) EBIT Q4 at +1,3 MSEK. For the year, EBIT amounted to - 23,0 MSEK, a loss driven by strategic initiatives in R&D, security certification and U.S. expansion – representing investments in future revenues. N egative operating cash flow in Q4 due to timing of accounts receivable. The large variations in revenues, profit and cash flow between quarters are expected to continue. Operating cash flow (KSEK) © UNIBAP SPACE SOLUTIONS 2026 -30 000 -20 000 -10 000 0 10 000 20 000 30 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 Quarter Rolling 12 months -30 000 -25 000 -20 000 -15 000 -10 000 -5 000 0 5 000 10 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 Quarter Rolling 12 months
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Today’s agenda 1. Financials 2. Highlights 3. European defense market 4. Ambitions © UNIBAP SPACE SOLUTIONS 2026 6
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Q4 highlights • A three - year framework agreement with Loft Orbital was signed during the third quarter and a first call - off of 1.39 MEUR was delivered in the fourth quarter. • A strategic collaboration has been initiated with Leonardo S.p.A. • The collaboration aims to integrate Unibap’s edge computing solutions into Leonardo’s future Earth observation constellations • An initial order of EUR 1.0 million within the framework of the strategic collaboration with Leonardo S.p.A. was received and delivered during the fourth quarter . © UNIBAP SPACE SOLUTIONS 2026 7
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Today’s agenda 1. Financials 2. Highlights 3. European defense market 4. Ambitions © UNIBAP SPACE SOLUTIONS 2026 8
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Space - based ISR trends 1. Low latency / Near realtime / Realtime – ” Latency is the new resolution” o Resolution is good enough (Sub - 25 cm) – tactical usefulness is now more important o Days → Hours → Minutes 2. Rapid iterative development – ”New capabilities in the hands of warfighters ” o Example : SDA – Space Development Agency – ”SW application factory ” o Learnings from the war in Ukraine o ”Over - the - air” upgrades of SW - defined satellites © UNIBAP SPACE SOLUTIONS 2025 9
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From strategic to tactical insights from space • Strategic ( 1 day ) • Single satellites • Single ground stations • Operational ( 1 hour ) • Satellite constellations • Ground station networks • Tactical ( 30 min ) • Edge computing in - orbit • On - board pre - processing • Real - time ( 1 min ) • On - board AI • Inter - satellite links (LEO - GEO / LEO - LEO) 10
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From strategic to tactical insights from space © UNIBAP SPACE SOLUTIONS 2025 11 Target identification Action Damage assessment Minutes Minutes Hours Hours
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European awakening © UNIBAP SPACE SOLUTIONS 2025 12 Germany’s Minister of Defense, Boris Pistorius, speaks at the Federation of German Industries Space Congress in Berlin Sept. 25. Credit: BDI/Christian Kruppa Germany will invest 35 billion euros into defense space technologies within the next five years — an unprecedented amount for any European country. The decision, made in response to rising tensions with Russia, has been hailed a “watershed moment” for the German and European space sector, and experts say could spur a new era in European space cooperation. Source: https://spacenews.com/what-germanys-41b-investment-in- space-could-mean-for-europe/ Germany 1 st contract Partnership Rumour
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European missile defence – integrated with Space domain © UNIBAP SPACE SOLUTIONS 2026 13 Leonardo: Cingolani presents 'Michelangelo - The Security Dome' | Leonardo
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Leonardo © UNIBAP SPACE SOLUTIONS 2025 14 https://www.leonardo.com/documents/15646808/28608810/20250311_Leonardo+IndustrialPlan25 - 29_vSent.pdf?t=1741709587968 Airbus, Leonardo and Thales agree to combine space businesses – SpaceNews
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Strategic cooperation with Leonardo to develop real - time intelligence in space © UNIBAP SPACE SOLUTIONS 2025 15 Under the new cooperation agreement, Leonardo and Unibap will conduct a joint technical study focused on two main goals: 1) integrating Unibap's high - performance edge computing solutions into Leonardo's future Earth observations space infrastructures 2) further developing Unibap's solutions along a joint roadmap integrating Leonardo expertise in meeting the most demanding mission requirements. Unibap's dual - use strategy , based on developing for the commercial market and adopting to defence applications, requires close cooperation with experienced defence, aerospace and security experts. High - performance edge computing solutions comprising AI applications, software and hardware, require a clear focus on the tactical needs of the warfighters . We see Leonardo as an ideal partner in Unibap's mission to become a trusted defence solution provider.
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Today’s agenda 1. Financials 2. Highlights 3. European defense market 4. Ambitions © UNIBAP SPACE SOLUTIONS 2026 16
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Flight heritage Q7 compute cards • In space : >50 units launched in 2016 - 2023 iX5 and iX10 • Delivered : 109 units between 2020 - 2025 • 34 Engineering Models • 75 Flight Models • In space : 18 units • To be launched : >30 units in 2026 © UNIBAP SPACE SOLUTIONS 2026 17 2024 Order and Delivery statistics Q7 Compute Cards iX5 and iX10 2024 - 2025 Delivery statistics (units)
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• TECHNOLOGY MATURITY • First launch for Next Gen • OPERATIONAL READINESS • Maintain >100 units/year capacity Ambitions in 2026 • BUSINESS DEVELOPMENT • Expand US operations • Leverage European awakening • FINANCIAL IMPROVEMENT • 30 - 50% average annual mid - term growth • Return to 30 - 50% revenue growth in 2026 18 © UNIBAP SPACE SOLUTIONS 2026
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info@unibap.com Unibap Space Solutions AB (publ). Västra Ågatan 16, 5 tr SE - 753 09 Uppsala Sweden unibap.com © UNIBAP SPACE SOLUTIONS 2026 19