BKSY Q2 2026 Earnings Presentation

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. Legal Disclaimer 2 FORWARD-LOOKING STATEMENTS Certain statements in this presentation may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. Words such as “believe,” “project,” “expect,” ” forecast,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. 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 those described in the section captioned “Risk Factors” in our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this presentation. We anticipate that subsequent events and developments will cause our assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward -looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky’s disclosure materials filed from time to time with the SEC which are available at the SEC’s website at http://www.sec.gov or on BlackSky’s Investor Relations website at https://ir.blacksky.com. USE OF PROJECTIONS AND DATA The data contained herein is derived from various internal and external sources. All of the market data in the presentation involves a number of assumptions and limitations. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication of future performance. BlackSky assumes no obligation to update the information in this presentation. TRADEMARKS BlackSky owns or has rights to various trademarks, service marks and trade names that it uses in connection with the operation of its businesses. This presentation may also contain trademarks, service marks, trade names and copyrights of third parties, which are the property of their respective owners. The use or display of third parties’ trademarks, service marks, trade names or products in this presentation is not intended to, and does not imply, a relationship with BlackSky, or an endorsement or sponsorship by or of BlackSky. NON-GAAP FINANCIAL MEASURES Adjusted EBITDA is defined as net income or loss attributable to BlackSky before interest income, interest expense, income taxes, depreciation and amortization, as well as significant non-cash and/or non-recurring expenses as our management believes these items are not as useful in evaluating the Company’s core operating performance. These items include, but are not limited to, stock-based compensation expense; unrealized (gain) loss on certain warrants/shares classified as derivative liabilities; loss on debt extinguishment; non-recurring transaction costs; litigation, settlements and related costs; severance; and impairment, obsolescence, and asset disposals. Cash operating expenses is defined as operating expenses less stock-based compensation expense for selling, general, and administrative costs, and depreciation and amortization expense. Adjusted EBITDA and cash operating expenses are non-GAAP financial performance measures. They should not be considered in isolation or as an alternative to measures determined in accordance with GAAP. Please refer to the appendix herein and our SEC filings for a reconciliation of our non-GAAP metrics to their most comparable measures reported in accordance with GAAP and for a discussion of the presentation, comparability, and use of such metrics.

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 3 Strong Sales Performance Accelerates Revenue and AEBITDA Growth 86 aircraft and 22,258 vehicles automatically detected in BlackSky Spectra Farnborough International Airshow, United Kingdom | Gen-3 | July 20, 2026

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 4 Extreme off nadir collection | London, England | Gen-3 | July 9, 2026 © BlackSky 2026. All rights reserved. Confidential & Proprietary. Exceptional Performance and Unit Economics Distinguish Gen-3 as a Competitive Differentiator

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 5 Time-diverse port activity and detection in BlackSky Spectra Tarifa, Spain | Gen-3 | June 11-13, 2026 June 13 at 8:11 p.m. 3 vessels June 13 at 4:31 p.m. 9 vessels June 13 at 10:02 a.m. 82 vessels June 13 at 8:23 a.m. 28 vessels June 13 at 8:21 a.m. 20 vessels June 13 at 5:03 a.m. June 13 at 04:59 a.m. June 12 at 8:50 p.m. 181 vessels June 12 at 8:49 p.m. 182 vessels 12 June 12 at 10:32 a.m. 5 vessels June 12 at 8:55 a.m. 52 vessels June 12 at 5:38 a.m. June 12 at 05:37 a.m. June 12 at 12:19 a.m. June 11 at 9:28 local 1 vessel June 11 at 7:21 p.m. 89 vessels June 11 at 11:06 a.m. 114 vessels June 11 at 928 a.m. 89 vessels Real-Time Space-Based Intelligence for a Rapidly Changing Global Landscape

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. Imagery and analytics delivered 30 minutes after collection, with BlackSky Spectra detecting 10,734 vehicles & 362 vessels Manzanillo, Mexico | Gen-3 | May 25, 2026 Gen-3 Flywheel Accelerating Top and Bottom-Line Growth 6 Grew Q2 revenue 50% YoY driven by record space- based intelligence & AI services Delivered significant positive Adjusted EBITDA growth unlocked by Gen-3 imagery services Secured up to $200 million in YTD bookings, continuing to grow contracted backlog Diversified customer base driven by a 200% YoY international revenue growth Strengthened balance sheet with cash up 157% YoY, bringing total liquidity to over $325 million © BlackSky 2026. All rights reserved. Confidential & Proprietary.

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7 Space-Based Intelligence & AI Services 50% Revenue Growth Achieving a $100M Annual Run Rate Milestone © BlackSky 2026. All rights reserved. Confidential & Proprietary. Record revenue with ~50% sequential growth driven by accelerating Gen-3 demand High-margin Gen-3 recurring revenue driving adjusted EBITDA growth International revenues grew 150% YoY with multi-year contracts comprising 85% of backlog Successful Gen-3 pilot programs converting into multi-year contracts driving recurring revenue and expanding long-term backlog visibility Oulu, Finland | Gen-3 | June 30, 2026

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9 Mission Solutions First Gen-3 Sovereign Satellite On Track for a 2026 Delivery © BlackSky 2026. All rights reserved. Confidential & Proprietary. Strong execution on major programs contributing to revenue growth Multiple Gen-3 sovereign satellites are in production and on track to meet delivery schedules Actively working a strong pipeline of Gen-3 sovereign opportunities Gen-3 satellite in Tukwila, WA, manufacturing facility

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10 Advanced Technology Programs Success of Gen-3 Driving Advancement of Next- Generation Systems © BlackSky 2026. All rights reserved. Confidential & Proprietary. 10 Awarded eight-figure contract to accelerate AROS development to meet critical U.S. government mission needs Growing ATP portfolio drives 65% revenue growth quarter over quarter Won additional R&D contracts for the advancement of AI-enabled, space-based ISR solutions Expanded multiple existing contracts related to optical intersatellite links and advanced payload technologies Bastille Day Celebrations, Paris, France | Gen-3 | June 29, 2026

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 11 AROS Addressing Critical Market Need and Creating TAM Expansion Opportunity Contract with NRO accelerates program to support a targeted launch in 2028 Cost-effective, very-high resolution solution to support tactical mission applications Expected to fill upcoming capacity gap in government and commercial markets Leverages Gen-3 advanced technology and existing infrastructure Provides a TAM expansion opportunity

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. $18.0 $24.5 $1.0 $5.1 $3.2 $3.7 $22.2 $33.3 Q2 2025 Q2 2026 Advanced Technology Programs Mission Solutions Space-Based Intelligence & AI Services Q2 Revenue 13 Strong Revenue Growth ($ in millions) Q2 revenue of $33.3 million, up 50% over the prior year quarter Record space-based intelligence & AI services revenue of $24.5 million, up 50% sequentially from Q1 2026 Strong execution on Mission Solutions and ATP programs contributed to revenue growth 50% YoY Growth

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. $19.4 $20.0 Q2 2025 Q2 2026 $33.3 $22.2 14 Delivering Strong Operating Leverage ($ in millions) 50% YoY Revenue Growth YoY cash operating expenses flat, while total revenue increased 50% Cash operating expenses of $20.0 million, essentially flat compared to prior year quarter Cash operating expense as a % of revenue decreased to 60% from 87% in prior year * Percent amounts are cash operating expense as a percentage of revenue. (1) Cash operating expenses is a non-GAAP financial measure. See Appendix for a reconciliation to the most comparable measure reported in accordance with GAAP. Q2 Cash Operating Expenses (1)

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. Q2 Adjusted EBITDA (1) 15 Operating Leverage Drives Adjusted EBITDA (1) Growth ($ in millions) (1) Adjusted EBITDA is a non-GAAP financial measure. See Appendix for a reconciliation to the most comparable measure reported in accordance with GAAP. (2) BlackSky has not reconciled its non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses, change in fair value of warrant liabilities, and depreciation and amortization are uncertain or out of BlackSky’s control and cannot be reasonably predicted. The actual amount of these expenses will have a significant impact on BlackSky’s future GAAP financial results. Accordingly, a reconciliation of BlackSky’s non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts. Positive Adjusted EBITDA(1) of $4.7 million, up $7.5 million over the prior year quarter YoY increase mainly driven by Gen-3 space- based intelligence & AI services revenue Scaling high-margin revenue against a fixed-cost operating base drives improving earnings performance $(2.8) $4.7 Q2 2025 Q2 2026 $7.5M YoY Growth

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. Cash and Liquidity 16 Cash Position Improves to Over $240 Million ($ in millions) $94.9 $244.1$42.6 $26.0 $13.5 $30.6 $6.9 $28.0 Q2 2025 Q2 2026 Ending Cash Balance Unbilled Contract Assets Vendor Financing Accounts Receivable $328.7 $157.9 108% YoY Growth Q2 cash balance* of $244.1 million, up 157% over the prior year quarter Successfully raised $150 million through ATM offerings Liquidity position improves 108% year-over- year to over $325 million * Ending cash balance includes cash and cash equivalents, restricted cash, and short -term investments.

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Reaffirming 2026 Outlook © BlackSky 2026. All rights reserved. Confidential & Proprietary. 17 Full Year Guidance Revenue $130M - $150M Adj. EBITDA(1) $12M - $24M Capital Expenditures $50M - $60M (1) Blacksky has not reconciled its non-GAAP financial outlook to the most directly comparable GAAP measures because certain reconciling items, such as stock-based compensation expenses, change in fair value of warrant liabilities, and depreciation and amortization are uncertain or out of BlackSky’s control and cannot be reasonably predicted. The actual amount of these expenses will have a significant impact on BlackSky’s future GAAP financial results. Accordingly, a reconciliation of BlackSky’s non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts. Ust-Luga Oil Terminal, Russia | Gen-3 | June 29, 2026

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 18 Pre-match activity an hour before kickoff for the World Cup soccer match between Argentina and Spain East Rutherford, New Jersey, USA | Gen-3 | July 19, 2026 Success of Gen-3 Unlocks Rapid Growth in 2026 and Beyond

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 20 2026 2025 2026 2025 Net loss (20,834)$ (41,239)$ (50,497)$ (54,052)$ Interest income (1,348) (677) (2,372) (1,250) Interest expense 3,865 3,509 7,797 6,852 Income tax expense - 35 - 65 Depreciation and amortization 7,997 7,208 17,244 14,444 Loss on derivatives 10,517 24,435 18,734 22,534 Stock-based compensation expense 4,312 3,454 8,417 6,351 Severance 180 6 252 332 Litigation, settlements, and related costs 32 77 50 215 Non-recurring transaction costs 17 375 17 1,031 Impairment, obsolescence, and asset disposals - - - 44 Adjusted EBITDA 4,738$ (2,817)$ (358)$ (3,434)$ Six Months Ended June 30, Three Months Ended June 30, BLACKSKY TECHNOLOGY INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (unaudited) (in thousands)

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© BlackSky 2026. All rights reserved. Confidential & Proprietary. 21 2026 2025 2026 2025 Operating expenses 32,066$ 29,892$ 64,045$ 58,815$ Depreciation and amortization (7,997) (7,208) (17,244) (14,444) Stock-based compensation for selling, general and administrative costs (4,066) (3,288) (7,993) (6,045) Cash operating expenses 20,003$ 19,396$ 38,808$ 38,326$ Six Months Ended June 30, Three Months Ended June 30, BLACKSKY TECHNOLOGY INC. RECONCILIATION OF OPERATING EXPENSES TO CASH OPERATING EXPENSES (unaudited) (in thousands)

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