Slides
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Planet Labs Investor Day October 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 All references to “Planet” or the “Company” in this presentation are references to Planet Labs PBC (NYSE: PL). Forward-looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Planet’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain wordssuch as “expect,” “estimate,” “project,” “budget,” “forecast,” “target,” “anticipate,” “intend,” “develop,” “evolve,” “plan,” “seek,”“may,” “will,” “could,” “can,” “should,” “would,” “believes,” “predicts,” “potential,” “strategy,” “opportunity,” “aim,” “conviction,” “continue,” “positioned,” “structured” or the negative of these words or other similar terms or expressions that concern Planet’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this presentation include, but are not limited to, statements regarding Planet’s financial guidance and outlook, long-term financial targets, including revenue growth percentage, non-GAAP gross margin, non-GAAP operating expenses, adjusted EBITDA, and capital expenditures, expected financial and operating results, the expected value of contracts that Planet has entered into and the timing and amount of revenue that Planet will recognize, Planet’s growth opportunities, Planet’s expectations regarding future product development and performance, including with respect to AI, Planet’s expectations regardingthe launch and operations of its satellites, including with respect to timing, and Planet’s expectations regarding its strategieswith respect to its markets and customers, including trends in customer demand. Planet’s expectations and beliefs regarding these matters maynot materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding Planet’s ability to forecast Planet’s performance due to Planet’s limited operating history. The forward-looking statements contained in this presentation are also subject to other risks and uncertainties, including those more fully described in Planet’s filings with the Securities and Exchange Commission (“SEC”), including Planet’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent filings with the SECthat Planet may make. All forward-looking statements reflect Planet’s beliefs and assumptions only as of the date of this press presentation. Planet undertakes no obligation to update forward-looking statements to reflect future events or circumstances, except as may be required by law. Disclaimers
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Today’s Presenters AshleyJohnson President & Chief Financial Officer William Marshall Chief Executive Officer, Co-Founder CharlieCandy ChiefRevenueOfficer RobbieSchingler ChiefStrategyOfficer, Co-Founder © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 View from Above Momentum in AI-enabled Solutions & Satellite Services Fireside Chat with Oleksii Reznikov, former Minister of Defense, Ukraine World Class Execution in Space Partner Testimonial: JSAT International Revolution in Space & AI The Financial Foundation for Growth & Returns Agenda © 2025 PLANET LABS PBC ALL RIGHTS RESERVED William Marshall Chief Executive Officer, Co-Founder CharlieCandy Chief Revenue Officer RobbieSchingler Chief Strategy Officer, Co-Founder AshleyJohnson President & Chief Financial Officer William Marshall Chief Executive Officer, Co-Founder INVESTOR DAY 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Will Marshall Chief Executive Officer & Co-Founder WELCOME
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Photo Credit: NYSE
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Key Messages Our AI-enabled Solutions & Satellite Services are leading the market, delivering exceptional results We are at the center of rapidly changing geopolitics and the global AI revolution Planet is uniquely a Space + AI company 1 2 3 4 We’ve driven accelerated growth, and our backlog supports further acceleration
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 PLANET’S MISSION To image the whole world every day and make global change visible, accessible, and actionable.
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Note: Planet has a Fiscal Year (FY) ending January 31. 1 As of August 26, 2025 2 Percent of Recurring Annual Contract Value (ACV) . 3 Non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. 4 Cash, Cash Equivalents and Short-term Investments as of July 31, 2025. Defense & Intelligence Civil Government Commercial $73M Record Revenue in 2Q’26 ~98% Percent Recurring ACV2 EoP 2Q’26 $736M Backlog3 EoP 2Q’26 $54M Record YTD FCF3 EoP 2Q’26 Data and AI-Enabled Solutions Daily, Global Scanning High Resolution Tasking Hyperspectral Continuously- Refreshed Archive One-to-Many Model Insights & Solutions Platform Machine Learning Ready Data High ROIC Sat Services Model Satellite Services $272M Cash & Equivalents4 EoP 2Q’26 LARGEADDRESSABLEMARKETS KEYHIGHLIGHTS WHAT WE DELIVEROUR CONSTELLATION1 ~140satellites in orbit >600 satellites successfully launched OUR PROPRIETARY DATA HIGHLY SCALABLE BUSINESS MODEL Delivering a Unique Earth Intelligence Layer Planet at a Glance
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Significant Momentum Since Q2 Earnings $460MConvertibleDebtRaise Major Customer Contract Win USNavy1 NGA Luno B2 Next Gen Monitoring Owl Manufacturing Expansion in Germany 1 Represents a 7-figure ACV contract. 2 Represents an 8-figure ACV contract. NGA stands for National Geospatial Agency.
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 CIVIL GOVERNMENT 8-Figure1Multi-Year Hyperspectral Win California Air Resource Board 1Denotes total contract value to be paid over multi-year contract. Large Multi-Year Ag Tech Contracts Bayer / Syngenta COMMERCIAL CIVIL GOVERNMENT 7-Figure Deal For Land & Water Management Germany’s BKG DEFENSE & INTELLIGENCE €240M1Multi-Year Agreement Supporting European Peace & Security German Government Funded 7-Figure Deal for Enhanced Indications & Warnings and Maritime Domain Awareness NATO DEFENSE & INTELLIGENCE $230M1Multi-Year Partnership to Build LEO Constellation JSAT Expanded Contract to Support U.S. Indo Pacific Command Defense Innovation Unit (DoD) DEFENSE & INTELLIGENCE Secured 7-Figure Deal for Maritime Domain Awareness U.S. Navy © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 DEFENSE & INTELLIGENCEDEFENSE & INTELLIGENCE Major Contracts Announced in 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 PLANET FOUNDED EXPANDS FLEET PLANET FEDERAL ESTABLISHED PLANET LISTS ON NYSE TANAGER HYPERSPECTRAL MISSION ANNOUNCED ACQUIRES VANDERSAT ACQUIRED SKYSAT HIGH RESOLUTION SATELLITES ABLE TO IMAGE THE EARTH EVERY DAY ACQUIRES SALO SCIENCES AND SINERGISE PELICAN NEXT GEN HIGH RESOLUTION MISSION ANNOUNCED MISSION 1 ANNOUNCED: IMAGE THE EARTH EVERY DAY ACQUIRED RAPIDEYE SATELLITES MISSION 2 ANNOUNCED: INDEX PHYSICAL CHANGE ON EARTH WITH AI LAUNCHED PLANET INSIGHTS PLATFORM $230M JSAT DEAL €240M GERMAN GOVERNMENT FUNDED DEAL DOD PILOTS LAY GMS FOUNDATION U.S. NAVY CONTRACT FOR MDA NATO, DIU AND US NAVY AI CONTRACTS LAUNCHED PELICAN TECH DEMO LAUNCHED PELICAN 2 AND TANAGER 1 2010 2014 2015 2017 2018 2019 2021 2022 2023 2024 2025 Significant Competitive Moats Built on a History of Innovation
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 SkySat HIGH RESOLUTION TASKING SuperDove 3-5m MONITORING Not shown to scale Planet’s Constellation Pelican VERY HIGH RESOLUTION • RAPID REVISIT Tanager HYPERSPECTRAL
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Tanager HYPERSPECTRAL SkySat HIGH RESOLUTION TASKING SuperDove 3-5m MONITORING Not shown to scale Planet’s Constellation Pelican VERY HIGH RESOLUTION • RAPID REVISIT Owl 1m CLASS NEXT-GENERATION MONITORING FUTURE CONSTELLATION
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Line Scanner Anim Final.mp4 Line Scanner Anim Final.mp4 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 202516
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 •AI layer accelerating the next wave of innovation •Speeding customer time to value with AI •Value increases over time with constellation upgrades •One of the largest continuous earth datasets, averaging 3,000+ images for every point on land •Multi-sensor satellite data SENSOR DATA ANALYSIS READY DATA PLANETARY VARIABLES INSIGHTS AI-ENABLED SOLUTIONS Fusion NDVIML-Ready Crop Biomass Soil Moisture Land Cover Forest Carbon Supply Chain Crop Yields Asset Monitoring Economic Activity Basemaps Tasking Monitoring Archive 3D Summary Stats Change Detection Roads & Buildings Crop Rotation Data Accessibility Hyperspectral Ship Detection Airplane Detection Indications & Warning Subsidy Compliance Maritime Domain Awareness Global Monitoring Service Area Monitoring System Model Context Protocol Layer Proprietary Data Powering the Solutions Portfolio
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI-enabled solutions to analyze changes in infrastructure, objects, and activities at scale GLOBAL MONITORING SOLUTIONS MARITIME DOMAIN AWARENESS AREA MONITORING SYSTEM Customer-Driven, AI-Powered Solutions
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Building Damage Assessment Borodyanka, Ukraine March 2022 Damaged Undamaged NATIVE IMAGE AI ANALYTIC Daily and Near Real-Time Imaging of Entire Countries
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 BROAD AREA SCAN + ARTIFICIAL INTELLIGENCE Since the Last Investor Day: Aligned sales motions to solutions and leaned into AI AGILE SPACE MISSIONS MARKET LEADERSHIP Since the Last Investor Day: Transformed space systems from a cost center to profit center Core Strengths
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Daily, global scan Rapid AI insights + High resolution tasking © 2025 PLANET LABS PBC ALL RIGHTS RESERVED At the Intersection of Space + AI
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Charlie Candy Chief Revenue Officer Momentum in AI-enabled Solutions & Satellite Services
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Area coverage: Hundreds of millions of sq-km daily High frequency: Daily scan + sub- daily High Res revisits Synergistic fleets: High Res + Scanning Archive: Daily global imagery back to 2017 to see change and train models AI optimized: Data processed and AI-ready © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Why Planet Wins
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Commercial SATELLITE SERVICES D&I BUSINESS GROUPS Civil Gov DATA & PLATFORM Structured to Win
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 CUSTOMER Time Series Data + Intelligence Alerts Insights Embedded into Customer Workflows Planet’s Multi- Sensor Constellation Intelligent Monitoring + Real Time Insights Dynamic Tip-and-Cue Solutions EcoSystem Placing the Customer at the Center
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI-enabled solutions to analyze changes in infrastructure, objects, and activities at scale GLOBAL MONITORING SOLUTIONS MARITIME DOMAIN AWARENESS AREA MONITORING SYSTEM Customer-Driven, AI-Powered Solutions
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Valeri/stock.adobe.com Marine Domain Awareness INVESTOR DAY 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Hidden in Plain Sight Data gaps and time delays reduce situational awarenessand the ability to mitigate piracy, smuggling, and other serious safety and security risks. © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Valeri/stock.adobe.com INVESTOR DAY 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED © 2025 PLANET LABS PBC ALL RIGHTS RESERVED MARKET SIZE ($B) Global Maritime Surveillance Market (USD Billions) 2018 Projected Maritime Surveillance Market Growth1 The maritime surveillance market is being driven by increasing need for national security and the protection of maritime borders. The growing incidence of piracy, illegal fishing, smuggling, and maritime terrorism is driving the demand for advanced surveillance solutions across global waters. Global military modernization programs are driving increased investments in advanced maritime surveillance technologies. 2024 2030 $18B $24B $36B Source: Grand View Research. Maritime Surveillance Market Report (2024 -2030). grandviewresearch.com/industry-analysis/maritime-surveillance-market-report Growth in Maritime Surveillance Market
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 High-frequency ocean and coastal monitoring with partner analytics for near real-time vessel identification, classification and tracking across open waters MONITOR THOUSANDS OF PORTS AND VESSELS GLOBALLY Made possible by Planet’s unique global, near-daily archive MONITOR ACTIVITY •Spoofing •Bunkering •Dark Vessels •Encroachment CLASSIFY VESSELS TYPES •Cargo •Military •Passenger •Tanker •etc Solution: Maritime Domain Awareness
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 PlanetScopeOpen Water Data For customers with internal vessel detection capabilities or a preferred partner for MDA High Resolution Tasking For tip-and-cue to get a closer look and verify what’s happening at sea. Data Feeds Vessel Tasking Supports MDA applications with automated detection and classification of vessels using PlanetScopedata and bunkering detection capabilities. Analytic Feeds SynMaxTheia Platform Advanced capabilities that leverage additional data sources, such as AIS, to enable e.g., spoofing detection and vessel path prediction. © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Full MDA Solution Meeting the Customer Where They Are
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Global Monitoring © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 K.V./stock.adobe.com
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope What does normallook like? In the age of big data and agile adversaries, intelligence must evolve from monitoring knownsto actively discovering unknownunknowns. © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 K.V./stock.adobe.com
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Global Defense Budget by Region ($B, 2023 constant) Japan’s $60B defense budget request seeks funding for coastal defense network, more F-35s Germany to raise defence spending to 3.5% of GDP by 2029, sources say European arms industry growth to beat 10% a year, Redburn forecasts Source (2018-2024): The Stockholm International Peace Research Institute (SIPRI) Military Expenditure Database Source(2028): 2028 estimate is based on management projections, using 2024 SIPRI figures as the baseline and applying historical growth rates. Global Growth in Defense Budgets
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI-enabled system that analyzes changes in infrastructure, objects and activities to deliver early intelligence for strategic planning and threat anticipation VIEW TRENDS OVER TIME •Day over day •Month over month •Year over year MONITOR THOUSANDS OF LOCATIONS Made possible by Planet’s unique global, near-daily archive Solution: Global Monitoring
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Global Monitoring Spotlight © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 K.V./stock.adobe.com
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Indicators and Warning (I&W) Timely signals that reveal adversary intent or actions threatening national interests CUSTOMER CHALLENGES Adversaries conceal intent Limited resources, divided attention Data overload obscures true threats Lack of historical context for patterns INVESTOR DAY 2025© 2025 PLANET LABS PBC ALL RIGHTS RESERVED Imperative for Global Monitoring
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Known activities Known locations Unknown activities Unknown locations Analytics & AI Solutions Broad Area Monitoring High Resolution Data Global Monitoring Unleashing the Potential of Earth Data + AI
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 High Frequency Global Coverage See the world and understand change over time through global daily collection and historical archive Identify and Baseline Build patterns of behavior leveraging multi-year archive for areas of interest Monitor Inform Strategic and Operational planning through early indications of activity changes Alert Deliver data-driven, actionable insights Planet Global Monitoring Capabilities Finding the unknown unknowns
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Deliver critical information to our customers Satellitedata DailyImagery MachineLearning Tailordataworkflows touser needs AI-EnabledPlanetary Intelligence Extract actionable insights Buildcustom applications Customer-Centric Solutions Approach Rapidly responding to customer demand with agile development
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Site Monitoring
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Site Monitoring
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Global coverage is unmatched by other companies 3,000+ images collected for any given location on land enables us to see where others aren’t even looking Deep historical context on areas of interest and for analytics establishes baseline normal activities to help us find the deviations Airfield Monitoring PortMonitoring Building Change Unrivaled Global Coverage Look broader
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Week of July 28 Week of Aug. 18 Week of Aug. 18 Change Detection – Detail AI Analytics for Broad Area Monitoring Finding signal in the noise
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 SuperDove Always-on Monitoring High-Resolution Tasking SkySat Pelican VESSEL DETECTIONS Detected from global, near- daily imagery LOOK CLOSER High-resolution satellites cued to get more detail Tip and Cue High-Resolution Satellite Enables closer investigation based on insights from global scan
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Known activities Known locations Unknown activities Unknown locations Unleashing the Potential of Earth Data + AI
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Area Monitoring © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI/stock.adobe.com
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Seeing theBig Picture Allocating billions in subsidies to individual farmers requires field level insights at country- wide scale. © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI/stock.adobe.com
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 €50B –€60Bannual expenditure on EU Common Agricultural Policy THE 10 CAP OBJECTIVES FAIR INCOME KNOWLEDGE AND INNOVATION COMPETITIVENESS RURAL AREAS GENERATIONAL RENEWAL LANDSCAPES ENVIRONMENTAL CARE CLIMATE CHANGE FOOD VALUE CHAIN Sources: CAP expenditure: European Commission, Directorate-General for Agriculture and Rural Development (Financial Report). EU expenditure: European Commission, Directorate-General Budget EU Common Agricultural Policy Priorities & Spend FOOD AND HEALTH
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 High-frequency satellite imagery powers timely crop monitoring, field insights, compliance checks, API access and sustainability tracking PARCEL MONITORING Detect precise field-level changes MONITOR ACTIVITY •Field-by-field, capture health, moisture, mowing, plowing, greening, and harvest events •A single field or an entire country MONITOR THOUSANDS OF FIELDS GLOBALLY Made possible by Planet’s unique global, near-daily archives Solution: Area Monitoring System
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI/stock.adobe.com Data + Insights Platform
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Data FuelsDigital Transformation We live in a data-rich worldwith significant real-world problems. Real world problems require real world data. © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI/stock.adobe.com
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope Data FuelsDigital Transformation Driven by the rapidly expanding market opportunityand increasing number of prospects and use cases, the potential economic value of EO is expected to exceed $700 billion by 2030. –The World Economic Forum © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 AI/stock.adobe.com Source: Charting the Future of Earth Observation: Technology Innovation for Climate Intelligence, Published: 16 September 2024
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 FOREST STRUCTURE FOREST CARBON SOIL WATER CONTENT CROP BIOMASS LAND SURFACE TEMPERATURE FIELD BOUNDARIES BUILDINGS ARPSVESSELS ROADSAIRCRAFTSUPERRES Tracking Critical Planetary Variables
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Meeting the Customer Where They Are
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Supporting Industry Leaders Across Verticals Agriculture Energy Monitoring Critical Infrastructure Assets PG&E Optimizing Agricultural Production Bayer / Syngenta Enabling Parametric Insurance Protection SwissRe
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Flatart/stock.adobe.com Satellite Services
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVEDGREAT SAND DUNES• National Park, Colorado, U.S. • November 1, 2024 • PlanetScope In today’s world, a nation must take responsibility for its own security. Modern security requires the latest space, data, andAIcapabilities. © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Flatart/stock.adobe.com The UltimateHigh Ground
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Defense spending is powering a $182.6 billion (€155bn) surge in miniaturized satellite technology, driving a rapid boom in Earth observation satellites MarketSizingStats Totalsatellites tolaunchby2034 5,770 $182.6B Source: NovaSpace nova.space/hub/product/earth-observation-satellite-systems-database/. Published July 2, 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 DEDICATED CAPACITY CONSTELLATION OWNERSHIP DIRECT ACCESS WE ARE CURRENTLY QUALIFYING MORE THAN 20 OPPORTUNITIES WITH AVERAGE ESTIMATED TCV PER CUSTOMER OF $170 MILLION Satellite Services
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Customer Evolution: Data, AI Solutions, and Satellite Services A customer starts with PlanetScopeand High- Resolution Tasking Data The customer adopts AI solutions that expand with area coverage, sites monitored and users The customer purchases satellite services for competition-free coverage over their AOI, which scales as satellite capacity increases Illustrative; estimated based on an actual customer Represents estimated EoPAnnual Contract Value C B A C B A FutureFuture
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 CUSTOMER Time Series Data + Intelligence Alerts Insights Embedded into Customer Workflows Planet’s Multi- Sensor Constellation Intelligent Monitoring + Real Time Insights Dynamic Tip-and-Cue Solutions EcoSystem Placing the Customer at the Center
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Oleksii Reznikov Minister of Defense, Ukraine (2021-2023) FIRESIDE CHAT
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Robbie Schingler ChiefStrategyOfficer, Co-Founder World Class Execution in Space
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 A multi-year agreement, funded by the German government, in support of European peace and security. Dedicated Capacity + DAS + Data + AI-enabled Solutions €240M A multi-year partnership with JSAT to service the Japanese government with Pelican Satellites. Constellation Ownership + DAS + Dedicated Capacity $230M Trusted by International Partners and Governments … for major satellite service contracts
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Large, complicated spacecraft BUILD LAUNCH OPERATE INNOVATE Resilient, upgradable multi-sensor constellation Spacecraft not shown to scale Planet’s Approach to Earth Observation
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 SkySat HIGH RESOLUTION TASKING SuperDove 3-5m MONITORING Not shown to scale Planet’s Constellation Pelican VERY HIGH RESOLUTION • RAPID REVISIT Tanager HYPERSPECTRAL
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Agile Space Missions 01 FUNDAMENTAL SPACE SYSTEMS R&D Vertical Integration Optimizing for Speed, Agility and Efficiency
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Agile Space Missions 01 FUNDAMENTAL SPACE SYSTEMS R&D 02 HIGH RATE, RESPONSIVE MANUFACTURING Vertical Integration Optimizing for Speed, Agility and Efficiency
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Agile Space Missions 01 FUNDAMENTAL SPACE SYSTEMS R&D 03 AUTOMATED MULTI-MISSION OPERATIONS 02 HIGH RATE, RESPONSIVE MANUFACTURING Vertical Integration Optimizing for Speed, Agility and Efficiency
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Agile Space Missions 01 FUNDAMENTAL SPACE SYSTEMS R&D 04 AGILE AEROSPACE & MODULAR ARCHITECTURE 03 AUTOMATED MULTI-MISSION OPERATIONS 02 HIGH RATE, RESPONSIVE MANUFACTURING Vertical Integration Optimizing for Speed, Agility and Efficiency
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED Agile Space Missions 01 FUNDAMENTAL SPACE SYSTEMS R&D 04 AGILE AEROSPACE & MODULAR ARCHITECTURE 03 AUTOMATED MULTI-MISSION OPERATIONS 02 HIGH RATE, RESPONSIVE MANUFACTURING Vertical Integration Optimizing for Speed, Agility and Efficiency
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Dove Fleet is Fully Upgraded to SuperDove Planet Enters Funded R&D Partnership with Carbon Mapper for Hyperspectral Mission Awarded Multi-Year €240M Contract Funded by German Government 2020 Adjusts Altitude of Entire SkySatFleet to Increase Resolution for Customers to 50cm Selected for NASA CSP Program to Demonstrate Real-time Space-to-space Connectivity Solutions New Satellite Manufacturing Facility announced in Berlin Multi-Year $230 Million Contract signed with JSAT for Satellite Services Selected as Subcontractor to Carbon Mapper to Provide Dedicated Capacity to California Air Resources Board Tanager-1 Launched 2021 2022 2024 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 High performance, modular, mass-manufacturable, extensible, smallsat bus for demanding EO missions INVESTOR DAY 2025 Tanager Pelican 1 Pelican 2 SmallSatModular Architecture
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 09 Oct 2024>5,500Methane Detections1 24 Oct 2024 1 Source: Carbon Mapper. https://data.carbonmapper.org/#1.03/44/21.4. Accessed October 14, 2025. Tanager: Planet’s First Satellite Services Mission
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 ●30cm Class Imagery ●Highly Agile ●Multi-Spectral & Panchromatic ●Fast Data Downlink to reduce latency ●Rapid Communications ●Onboard AI Pelican
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 HYPERSPECTRAL TASKING HIGH RESOLUTION TASKING Dedicated Capacity Direct Access Constellation Ownership New Satellite Services Offerings Planet Tasking Maximum Customer Control Flexible & Assured Tasking Why Planet Wins
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 HIGH RESOLUTION TASKING Direct Access Constellation Ownership Guaranteed competition-free capacity in customer’s region Dedicated Capacity Direct Access Constellation Ownership New Satellite Services Offerings HYPERSPECTRAL TASKING Maximum Customer Control Planet Tasking Why Planet Wins
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Direct Access Constellation OwnershipDedicated Capacity Direct Access New Satellite Services Offerings Constellation OwnershipDedicated Capacity HIGH RESOLUTION TASKING Direct/secure tasking & data delivery from customer infrastructure HYPERSPECTRAL TASKING Planet Tasking Maximum Customer Control Why Planet Wins
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Direct Access Constellation Ownership New Satellite Services Offerings Constellation Ownership Direct AccessDedicated Capacity HIGH RESOLUTION TASKING Operated by Planet or customer HYPERSPECTRAL TASKING Planet Tasking Maximum Customer Control Why Planet Wins
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Guaranteed competition-free capacity in customer’s region Direct/secure tasking & data delivery from customer infrastructure Operated by Planet or customer Flexible & Assured Tasking HIGH RESOLUTION TASKING Dedicated Capacity Direct Access Constellation Ownership New Satellite Services Offerings HYPERSPECTRAL TASKING Planet Tasking Maximum Customer Control Why Planet Wins
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 ●Innovative model transforms how Planet funds and monetizes next-generation satellite fleets ●Dedicated capacity satellite services model pulls forward cash payments for greater capital efficiency ●Supports high ROIC, asset-light approach to aerospace ●Represents “win-win-win” ○For government customers, provides sovereign access to space ○For Planet, supports funding of next generation satellites ○For other Planet customers, creates network effect Our Satellite Services: A Win-Win-Win
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Solid Reputation, Foundation of Trust, Customer-focused, Proven Reliability 01 Rapid Time to Operational Capabilities 02 Scaled Agile Space Missions Enables Rapid Upgradability 03 Compounding Value with Planet’s Data and AI-enabled Solutions 04 Why Planet Wins © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Next Generation Monitoring: OWL
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Today Future Satellite Subscriptions Dedicated Capacity Direct Access Services Constellation Ownership Responsive Space & Resiliency Multiple Pathways for Satellite Services Growth
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Meet Planet Customers Where They Are Are Synergistic with Planet’s Data and AI-Enabled Solutions Enable a High- ROIC Model Expand Planet’s Addressable Market Satellite Services … The Satellite Services Opportunity
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 WELCOME
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Will Marshall Chief Executive Officer & Co-Founder Revolution in Space & AI
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Revolution in Space & AI
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Daily, global scanning AI driven rapid insights Multi-sensor high resolution tasking © 2025 PLANET LABS PBC ALL RIGHTS RESERVED + At the Intersection of Space + AI Megatrends
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Rocket costs have come down 4x Satellite capabilities have increased 1,000x Upshot: more Earth data for critical decisions Space Renaissance
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Imagery Analytics Large Language Models AI-Enabled Planetary Intelligence Simple Indices derived from Data (Pixel Maths) Convolutional Neural Networks (CNNs) Advances in AI are Accelerating Capabilities
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Accelerating Solutions 01 GPUs in Space 02 Foundation Models for the Real World 03 Leveraging AI to Create Customer Value
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Speeds customer time to value Scales to cover large geographic areas Eases use, democratizing access to information AI-Enabled Solutions AI at the Edge Generative AI What This Means For Our Customers
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © Copyright 2025 Planet Labs PBC All Rights Reserved 100
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Insights Embedded into Customer Workflows Intelligent Monitoring + Real Time Insights The AI Powered Customer Time Series Data + Intelligence Alerts Insights Embedded into Customer Workflows Planet’s Multi- Sensor Constellation Intelligent Monitoring + Real Time Insights Dynamic Tip-and-Cue Solutions EcoSystem How It All Fits Together
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Daily, global scanning AI driven rapid insights Multi-sensor high resolution tasking © 2025 PLANET LABS PBC ALL RIGHTS RESERVED + At the Intersection of Space + AI Megatrends
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 © 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 The Financial Foundation for Growth & Returns Ashley Johnson President & Chief Financial Officer
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Note: Planet has a Fiscal Year (FY) ending January 31. 1 Revenue Compound Annual Growth Rate (“CAGR”) is calculated in part based on mid-point of full year revenue guidance. 2 Backlog is a non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. 3 Expected revenue range for FY26, based on previously issued full year revenue guidance provided on September 8, 2025. BACKLOG2ANNUAL REVENUE FY23 FY24 FY25 2Q26 242 504 736 280 FY21 FY22 FY23 FY24 131 191 221 113 FY25 244 $281 -$289 Expected FY263 Strong Growth Foundation ($ in millions)
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Note: Planet has a Fiscal Year (FY) ending January 31. 1 NTM Revenue includes mid-point of guidance for Q3 FY26. 2 NTM Revenue includes mid-point of guidance for Q3 FY26 and implied mid-point of guidance for Q4 FY26. 3 NTM Revenue includes mid-point of guidance for Q3 FY26, implied mid-point of guidance for Q4 FY26 and sell-side analyst consensus for Q1 FY27 based on FactSet estimates as of October 14th, 2025. 4 NTM Revenue includes mid-point of guidance for Q3 FY26, implied mid-point of guidance for Q4 FY26 and sell-side analyst consensus for Q1 and Q2 of FY27 based on FactSet estimates as of October 14, 2025. 5 Backlog is a non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. Backlog expected to be recognized in next 12 Months divided by Revenue expected to be recognized in next 12 months (Based on Guidance and Consensus Estimates for Revenue) 100% 75% 50% 25% 0% Q2 FY25 Q3 FY251 Q4 FY252 Q1 FY263 Q2 FY264 53% 59% 67% 80% 83% Increasing Visibility to Growth Acceleration Next Twelve Month Backlog5: Next Twelve-Month Revenue
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 $200 $150 $100 $50 $0 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 $47 $49 $161 $163 $177 YEAR TWO COMMITTED BACKLOG1 Backlog expected to be recognized within the next 24 months less Backlog expected to be recognized within the next 12 months. Note: Planet has a Fiscal Year (FY) ending January 31. 1 Backlog is a non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. Building Confidence in Long Term Growth
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 ➔Forward Funds Constellation Build ➔Generates Increased Data For Customers ➔Utilizes AI Solutions To Optimize Performance ➔Drives Greater Customer Value And Market Adoption ➔Supports Manufacturing Efficiency & Scale Compounding Effect Of Satellite Services
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Illustrative based on current backlog and illustrative assumptions for potential renewals and new business FY26 FY27 FY28 FY29 FY30 Hardware New Business Hardware Backlog Data & AI Solutions New Business Data & AI Solutions Renewal Data & AI Solutions Backlog Not e: P lanet has a Fiscal Year (F Y) ending January 31. 1 Bac klog is a non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. Expected EoP Annual Contract Value Compounding Growth Synergies DATA & AI SOLUTIONS + SATELLITE SERVICES
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Not e: P lanet has a Fiscal Year (F Y) ending January 31. 1 Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. Operational Discipline for Self-Sustaining Business ($ in millions) FREE CASH FLOW1 Q3 FY25 Q4 FY25 (0.2) Q1 FY26 Q2 FY26 2.4 1.2 6.4 Q3 FY25 (19.1)(4.8) Q1 FY26 Q2 FY26 8.0 46.3 Q4 FY25 ADJUSTED EBITDA1
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Successful Capital Raise Strengthens Balance Sheet for the Long Term $460 million of Convertible Senior Notes 0.5% Interest Rate 100% Capped Call To Limit Dilution Use of Proceeds: General Corporate Purposes + Capped Call Purchase $200 $150 $100 $50 $0 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 End of Period Cash, Cash Equivalents, and Short Term Investments1 242 222 226 272 Organic Cash Generation Prior to Capital Raise Note: Planet has a Fiscal Year (FY) ending January 31. 1 All numbers in millions $. The Balance Sheet to Win ($ in millions)
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Fiscal 2027 Planning Principles On a full year basis: -Continued Growth Acceleration -Adjusted EBITDA Breakeven (or better) -Positive Free Cash Flow We invest efficiently and strategically to support continued growth acceleration, driving ongoing improvements in Rule of 40. 40% 20% 10% 0% FY25 FY26 FY28 15% 6% RULE OF 401 FY27 30% 30% Note: Planet has a Fiscal Year (FY) ending January 31. Note: Adjusted EBITDA, Free Cash Flow and Rule of 40 are non-GAAP financial measures. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. 1 Calculated as revenue growth rate percentage plus Adjusted EBITDA Margin 6% 15% 30% 40%+ Investing Strategically for Accelerated Growth
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Not e: This presentation cont ains cer tain long-term targets which are forward-lo oking and subject to significant business, econo mic and competitive uncertainties and contingencies, many of which are beyond the control of Planet and its management. These lo ng-term targets are based upon Planet’s current roadmap and are contingent upon many factors, including Planet’s execution, market conditions, and future decisions regarding resource alloca tion, which are subject to change. These long-term targets and other goals and forward-lo oking statements illust rate Planet’s current thinking and are subject to various risks and uncertainties, including those described in our filings with the Securities and Exchange Commission. Over time, Planet may also modify its t argets and goals or pur sue alter native o bjectives and strategies, and actual r esults may mater ially vary. Not hing in this pr esentatio n should be regarded as a r epresentation by any perso n that these targets will be achieved and Planet undertakes no duty to update its goals. Not e: P lease refer to the Appendix for definit ions of t he non-GAAP measures on this slide and Capex. We have not reconciled the non-GAAP measures on this slide to their most directly comparable GAAP measures because we do not because certain reconciling it ems are uncertain o r o ut of Planet’s control and canno t be reasonably predicted. Accordingly, a reconciliation of the long-term non-GAAP targets to the most comparable GAAP measures is not available without unreasonable effort. Not e: P lanet has a Fiscal Year (F Y) ending January 31. % of Revenue Average FY21-FY25 FY26 Guidance Mid-Point Long Term Target Key Drivers Revenue Growth % 21% 17% 20%+ -AI Solutions -Synergistic Satellite Services Non-GAAP Gross Margin 46% 56% 60%+ -One-to-Many Model -Revenue Mix Non-GAAP Opex 95% NA <50% -AI & Space Innovation -Efficient CAC through Large Deal Focus Adjusted EBITDA -20% -1% 25%+ -Scale Efficiencies -Operational Discipline Capex 17% (Blended) 25% (Growth Cycle) 5 -8% (Maintenance Level) -Agile Space Systems -Capital Efficient Model Long-Term Financial Targets & Drivers
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 THE FINANCIAL FOUNDATION FOR GROWTH AND RETURNS At the Intersection of Space + AI Megatrends •AI-enabled solutions transform data into actionable intelligence, facilitating customer decision-making •Synergistic satellite services model for governments seeking to modernize their defense capabilities One-to-Many Data Business Model • Highly repeatable and diversified revenue base • Multi-year contracts with high switching costs • High leverage, one-to-many model Significant Competitive Moats •Multi-year satellite services contracts lock in customers and generate compounding growth synergies •Proprietary data that constantly refreshes based on extensive multi-sensor satellite constellation •Virtuous cycle with customers and technology development High Margin, High Growth Business with a Strong Balance Sheet •Accelerating growth supported by strong backlog •Healthy cash flow and balance sheet •High gross margin, contribution margin and operating leverage 1 2 3 4 Investment Highlights
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 KIMBERLEY• Western Australia • June 22, 2024 • PlanetScope Appendix
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Non-GAAP Financial Measures Non-GAAP Gross Profit and Non-GAAP Gross Margin: The Company defines and calculates Non-GAAP Gross Profit as gross profit adjusted for stock-based compensation, amortization of acquired intangible assets, and restructuring costs. The Company defines Non-GAAP Gross Margin as Non-GAAP GrossProfit divided by revenue. Adjusted EBITDA and Adjusted EBITDA Margin:: The Company defines and calculates Adjusted EBITDA as net income (loss) before the impact of interest income and expense, income tax provision and depreciation and amortization, and further adjusted for the following items: stock-based compensation, change in fair value of warrant liabilities, other income (expense), net, restructuring costs, and certain litigation expenses. The Company defines Adjusted EBITDA MarginasAdjusted EBITDA divided by revenue. Rule of 40: The Company defines and calculates Rule of 40 as year-over-year revenue growth rate plus Adjusted EBITDA Margin. Non-GAAP Operating Expenses: The Company defines and calculates Non-GAAP Operating Expenses as total operating expenses adjusted for stock-based compensation, amortization of acquired intangible assets, restructuring costs, and certain litigation expenses.. Backlog: The Company defines and calculates Backlog as remaining performance obligations plus the cancelable portion of the contractvalue for contracts that provide the customer with a right to terminate for convenience without incurring a substantive termination penalty and written orders where funding has not been appropriated. Backlog does not include unexercised contract options. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, which includes both deferred revenue and non-cancelable contracted revenue that will be invoiced and recognized in revenue in future periods. Remaining performance obligations do not include contracts which provide the customer with a right to terminate for convenience without incurring asubstantive termination penalty, written orders where funding has not been appropriated and unexercised contract options. An increasing and meaningful portion of the Company’s revenue is generated from contracts with the U.S. government and other government customers. Cancellation provisions, such as termination for convenience clauses, are common in contracts with the U.S. government and certain other government customers. The Company presents Backlog because the portion of its customer contracts with such cancellation provisions represents a meaningful amount of theCompany’s expected future revenues. Management uses backlog to more effectively forecast the Company’s future business and results, which supports decisions around capital allocation. It also helps the Company identify future growth or operating trends that may not otherwise be apparent. The Company also believes Backlog is useful for investors in forecasting the Company’s future results and understanding the growth of its business. Customer cancellation provisions relating to termination for convenience clauses and funding appropriation requirements are outside of the Company’s control, and as a result, the Company may fail to realize the full valueof such contracts. Free Cash Flow: The Company defines and calculates free cash flow as cash provided by (used in) operating activities less purchases of property and equipment and capitalized internal-use software costs. The Company presents free cash flow because it believes free cash flow provides useful supplemental information to help investors understand underlying trends in the Company’s business and liquidity. Management uses free cash flow, in addition to GAAP measures, to help manage our business, prepare budgets, and for annual planning. Definitions
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Definitions Other Key Metrics ACV and EoPACV Book of Business:In connection with the calculation of several of the key operational and business metrics we utilize, the Company calculates Annual Contract Value (“ACV”) for contracts of one year or greater as the total amount of value that a customer has contracted to pay for the most recent 12 month period for the contract, excluding customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users,as well as the value of any satellite services contracts. For short-term contracts (contracts less than 12 months), ACV is equal to total contract value. The Company calculates EoPACV Book of Business in connection with the calculation of several of the key operational and business metrics we utilize. The Company defines EoPACV Book of Business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Planet Insights Platform self-service paying users, as well as the value of any satellite services contracts. Active contracts exclude any contract that has been canceled, expired prior to the last day of theperiod without renewing, or for any other reason is not expected to generate revenue in the subsequent period. For contracts ending on the last day of the period, the ACV is either updated to reflect the ACV of the renewed contract or, if the contract has not yet renewed or extended, the ACV is excluded from the EoPACV Book of Business. The Company does not annualize short-term contracts in calculating its EoPACV Book of Business. The Company calculates the ACV of usage-based contracts based on the committed contracted revenue or the revenue achieved on the usage-based contract in the prior 12- month period. Percent of Recurring ACV:Percent of Recurring ACV is the portion of the total EoPACV Book of Business that is recurring in nature. The Company defines EoPACV Book of Business as the sum of the ACV of all contracts that are active on the last day of the period pursuant to the effective dates and end dates of such contracts, excluding customers that are exclusively Planet Insights Platform (which has integrated the former Sentinel Hub platform) self-service paying users. The Company defines Percentof Recurring ACV as the dollar value of all data subscription contracts and the committed portion of usage-based contracts (excluding customers that are exclusively Planet Insights Platform self-service paying users) divided by the total dollar value of all contracts in our EoPACV Book of Business. The Company believes Percent of Recurring ACV is useful to investors to better understand how much of theCompany’s revenue is from customers that have the potential to renew their contracts over multiple years rather than being one-time in nature. The Company tracks Percent of Recurring ACV to inform estimates for the future revenue growth potential of our business and improve the predictability of our financial results. There are no significant estimates underlying management’s calculation of Percent of Recurring ACV, but management applies judgment as to which customers have an active contract at a period end for the purpose of determining EoPACV Book of Business, which is used as part of the calculation of Percent of Recurring ACV. Capital Expenditures as a Percentage of Revenue: The Company defines capital expenditures as purchases of property and equipment plus capitalized internally developed software development costs, which are included in our statements of cash flows from investing activities. We define Capital Expenditures as a Percentage of Revenue as the total amount of capital expenditures divided by total revenue in the reported period. Capital Expenditures as a Percentage of Revenue is a performance measure that we use to evaluate the appropriate level of capital expenditures needed to support demand for our data services and related revenue, and to provide a comparable view of ourperformance relative to other earth observation companies, which may invest significantly greater amounts in their satellites to deliver their data to customers. We use an agile space systems strategy, which means we invest in a larger number of significantly lower cost satellites and software infrastructure to automate the management of the satellites and todeliver our data to clients. As a result of our strategy and our business model, our capital expenditures may be more similar to software companies with large data center infrastructure costs. Therefore, we believe it is important to look at our level of capital expenditure investments relative to revenue when evaluating our performance relative to other earth observation companies or to other software and data companies with significant data center infrastructure investment requirements. We believe Capital Expenditures as a Percentage of Revenue isa useful metric for investors because it provides visibility to the level of capital expenditures required to operate our business and our relative capital efficiency.
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Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Year Ended January 31, 2021 2022 2023 2024 2025 Net Loss $ (127,103) $ (137,124) $ (161,966) $ (140,509) $ (123,196) (+) Interest expense 9,447 8,772 – – – (+) Interest Income (53) (21) (7,672) (15,414) (10,257) (+) Income tax provision 1,073 2,110 847 815 2,460 (+) Depreciation and amortization 62,212 45,043 43,330 47,639 45,637 (+) Debt extinguishment (gain) loss (673) 1,690 – – – (+) Change in fair value of convertible notes and warrant liabilities 30,053 (5,726) (6,554) (13,709) 15,116 (+) Stock-based compensation 14,012 41,956 75,544 57,132 48,485 (+) Restructuring costs – – – 7,376 10,574 (+) Employee transaction bonuses in connection with business combination – – – 2,317 – (+) Certain litigation expenses – – – – 799 (+) Other (income) expense, net (186) 2,248 (330) (931) (245) Adjusted EBITDA $ (11,218) $ (41,052) $ (56,801) $ (55,284) $ (10,627) Revenue $ 113,168 $ 131,209 $ 191,256 $ 220,696 $ 244,352 FY 2021 -2025 Average Adjusted EBITDA % (20%)
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Reconciliation of Non-GAAP Financial Measures ($ in thousands) Adjusted EBITDA Three Months Ended October 31, 2024 January 31, 2025 April 30, 2025 July 31, 2025 Net Loss $ (20,081) $ (35,154) $ (12,628) $ (22,592) (+) Interest Income (2,414) (1,965) (1,884) (2,172) (+) Income tax provision 25 1,096 928 497 (+) Depreciation and amortization 10,117 9,272 11,082 10,622 (+) Change in fair value of warrant liabilities (198) 16,242 (10,387) 5,679 (+) Stock-based compensation 11,829 12,018 12,542 13,456 (+) Restructuring costs 25 50 20 – (+) Certain litigation expenses 395 404 326 288 (+) Other (income) expense, net 60 415 1,200 628 Adjusted EBITDA $ (242) $ 2,378 $ 1,199 $ 6,406
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Reconciliation of Non-GAAP Financial Measures ($ in thousands) Free Cash Flow Three Months Ended October 31, 2024 January 31, 2025 April 30, 2025 July 31, 2025 Net cash provided by (used in) operating activities $ 4,076 $ (6,295) $ 17,346 $ 67,774 (-) Purchases of property and equipment (7,633) (11,603) (8,119) (20,291) (-) Capitalized internal-use software (1,229) (1,177) (1,225) (1,195) Free Cash Flow $ (4,786) $ (19,075) $ 8,002 $ 46,288
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© 2025 PLANET LABS PBC ALL RIGHTS RESERVED INVESTOR DAY 2025 Reconciliation of Non-GAAP Financial Measures ($ in thousands) Note: Planet has a Fiscal Year (FY) ending January 31. Free Cash Flow © Copyright 2025 Planet Labs PBC All Rights Reserved 11 Six Months Ended July 31, 2025 Net cash provided by (used in) operating activities $ 85,120 (-) Purchases of property and equipment (28,410) (-) Capitalized internal-use software (2,420) Free Cash Flow $ 54,290
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Reconciliation of Non-GAAP Financial Measures ($ in thousands) Backlog January 31, 2023 January 31, 2024 January 31, 2025 Remaining performance obligations $ 151,976 $ 132,571 $ 412,829 Cancelable amount of contract value 127,667 109,821 90,920 Backlog $ 279,643 $ 242,392 $ 503,749
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Reconciliation of Non-GAAP Financial Measures ($ in thousands) Backlog July 31, 2024 October 31, 2024 January 31, 2025 April 30, 2025 July 31, 2025 Remaining performance obligations $ 112,093 $ 145,890 $ 412,829 $ 451,928 $ 690,066 Cancelable amount of contract value 101,407 86,250 90,920 75,119 46,011 Backlog $ 213,500 $ 232,140 $ 503,749 $ 527,047 $ 736,077 Backlog expected to be recognized within the next 12 months 65% 70% 38% 45% 35% Backlog expected to be recognized within the next 24 months 87% 91% 70% 76% 59% Backlog expected to be recognized within Year 2 $ 46,970 $ 48,749 $ 161,200 $ 163,385 $ 176,658 Guidance and Consensus Estimates for Next Twelve Months Revenue $ 262,471 $ 273,705 $ 284,951 $ 298,286 $ 309,700 Backlog expected to be recognized in next 12 months as a % of next 12 months revenue 53% 59% 67% 80% 83%
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Reconciliation of Non-GAAP Financial Measures ($ in millions) Non-GAAP Gross Margin Year Ended January 31, 2021 2022 2023 2024 2025 GAAP Gross Profit $ 25.8 $ 48.2 $ 94.0 $ 113.0 $ 139.7 (+) Stock-Based Compensation 0.8 2.3 5.1 3.6 3.5 (+) Amortization of Acquired Intangible Assets – – 1.6 2.4 3.0 (+) Restructuring costs – – – 0.6 1.3 (+) Employee transaction bonuses in connection with business combination – – – 0.3 – Non-GAAP Gross Profit $ 26.6 $ 50.5 $ 100.7 $ 119.9 $ 147.5 GAAP Gross Margin % 23% 37% 49% 51% 57% Non-GAAP Gross Margin % 24% 38% 53% 54% 60% FY 2021 -2025 Average Non-GAAP Gross Margin % 46% Note: Planet has a Fiscal Year (FY) ending January 31.
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Reconciliation of Non-GAAP Financial Measures Note: Planet has a Fiscal Year (FY) ending January 31. ($ in millions) Non-GAAP Operating Expenses Year Ended January 31, 2021 2022 2023 2024 2025 GAAP Operating Expenses $ 113.2 $ 176.3 $ 269.7 $ 282.7 $ 255.8 (-) Stock-Based Compensation (13.1) (39.7) (70.4) (53.5) (45.0) (-) Amortization of Acquired Intangible Assets – (1.6) (0.9) (1.3) (0.8) (-) Restructuring costs – – – (6.8) (9.3) (-) Employee transaction bonuses in connection with business combination – – – (2.1) – (-) Certain litigation expenses – – – – (0.8) Non-GAAP Operating Expenses $ 100.1 $ 135.0 $ 198.3 $ 219.1 $ 200.0 Revenue $ 113.2 $ 131.2 $ 191.3 $ 220.7 $ 244.4 Non-GAAP Operating Expenses % 88% 103% 104% 99% 82% FY 2021 -2025 Average Non-GAAP Operating Expenses % 95%
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Reconciliation of Non-GAAP Financial Measures ($ in thousands) Non-GAAP Rule of 40 Year Ended January 31, 2025 Adjusted EBITDA $ (10,627) Revenue $ 244,352 Adjusted EBITDA Margin (4.3%) Revenue Growth Rate % 10.7% Non-GAAP Rule of 40 6% Note: Planet has a Fiscal Year (FY) ending January 31.
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Media Credits: Slide 33 Germany unveils $40bn military-space investment, citing new threats, Defense News, Published September 25, 2025 Japan’s Defence Budget Surge: A New Security Paradigm, Rusi, Published December 2, 2024 Unprecedented rise in global military expenditure as European and Middle East spending surges, SIPRI, Published April 28, 2025 Germany unveils $40bn military-space investment, citing new threats, Defense News, Published September 25, 2025