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FISCAL 2Q’27 WORLD CUP FINAL • East Rutherford, New Jersey • July 19, 2026 • SkySat UPDATESeptember 3, 2026
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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 words such 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, 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 regarding the launch and operations of its satellites, including with respect to timing, and Planet’s expectations regarding its strategies with respect to its markets and customers, including trends in customer demand. Planet’s expectations and beliefs regarding these matters may not 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 SEC that Planet may make. All forward-looking statements reflect Planet’s beliefs and assumptions only as of the date of this presentation. Planet undertakes no obligation to update forward-looking statements to reflect future events or circumstances, except as may be required by law. Planet’s results for the quarter ended July 31, 2026, are not necessarily indicative of its operating results for any future periods. Disclaimers © Copyright 2026 Planet Labs PBC All Rights Reserved 2
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Disclaimers Use of Non-GAAP Financial Measures This presentation includes Non-GAAP Gross Profit, Non-GAAP Gross Margin, certain Non-GAAP expenses, Backlog, Free Cash Flow, Adjusted Free Cash Flow, Adjusted EBITDA and Rule of 40 which are non-GAAP measures Planet uses to supplement its results presented in accordance with U.S. GAAP. Planet includes these Non-GAAP financial measures because they are used by management to evaluate Planet’s core operating performance and trends and to make strategic decisions regarding the allocation of capital and new investments. Planet presents these Non-GAAP financial measures because Planet believes these measures are frequently used by analysts, investors and other interested parties to evaluate companies in Planet’s industry and facilitates comparisons on a consistent basis across reporting periods. Further, Planet believes these measures are helpful in highlighting trends in its operating results because they exclude items that are not indicative of Planet’s core operating performance. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, as a substitute for, or superior to, measures of financial performance prepared in accordance with U.S. GAAP. The Non-GAAP financial measures presented are not based on any standardized methodology prescribed by U.S. GAAP and are not necessarily comparable to similarly-titled measures presented by other companies, which may have different definitions from Planet’s. Further, the non-GAAP financial measures presented exclude stock-based compensation expenses, which has recently been, and will continue to be for the foreseeable future, a significant recurring expense for Planet and an important part of its compensation strategy. Definitions of these Non-GAAP financial measures and reconciliations to the most directly comparable U.S. GAAP financial measures are included in the appendix to this presentation. Financial Outlook Planet 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 and depreciation and amortization, are uncertain or out of Planet’s control and cannot be reasonably predicted. The actual amount of these expenses will have a significant impact on Planet’s future GAAP financial results. Accordingly, a reconciliation of Planet’s Non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts. © Copyright 2026 Planet Labs PBC All Rights Reserved 3
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EARNINGS UPDATE © Copyright 2026 Planet Labs PBC All Rights Reserved 4 PLANET’S MISSION To image the whole world every day and make global change visible, accessible, and actionable.
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EARNINGS UPDATE The Planet Opportunity EARNINGS UPDATE Large Addressable MarketHighly Scalable Business Model Daily, Global Scanning High Resolution Tasking One-to-Many Data Model Natural Resource Management Energy Finance Insurance Agriculture Defense & Intelligence Civil Government Technology and Services Unique Data Hyperspectral Global Partner Network © Copyright 2026 Planet Labs PBC All Rights Reserved 5
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EARNINGS UPDATE Recent Highlights ●Successfully launched Pelican-11 technical demonstration satellite ●Shipped Tanager-2 and 18 SuperDoves to Launch Site ●Received new $8M OTA award from Geospatial-Intelligence Agency ●Won 7-figure award by European D&I Customer ●Signed new contract with Rwanda Space Agency ●Signed renewal with New Mexico State Land Office ●Won renewal with AI developer for data center monitoring Note: Planet has a Fiscal Year (FY) ending January 31. 1 Non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. Q2 at a Glance Annual or Multi-Year Contracts EoP 2Q’27 Adjusted Free Cash Flow1 Year-to-Date 2Q’27 $ 28.8MCash, Cash Equivalents, and Short-Term InvestmentsEoP 2Q’27 © Copyright 2026 Planet Labs PBC All Rights Reserved 6 $ 865.4M~94% YoY Revenue GrowthRevenue of $116.1M in 2Q’27 58% Adjusted EBITDA1 in 2Q’27 $ 13.9MNon-GAAP Gross Margin1 in 2Q’27 59%
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EARNINGS UPDATE Data Center Monitoring AI Developer New Contract Win Rwanda Space Agency Customer Highlights New $8M OTA Award National Geospatial-Intelligence Agency DEFENSE & INTELLIGENCE New Tender Award for Satellite Services German Civil Government CIVIL GOVERNMENT COMMERCIAL CIVIL GOVERNMENT © Copyright 2026 Planet Labs PBC All Rights Reserved 7 7-Figure Award European D&I Customer DEFENSE & INTELLIGENCE Renewal to Monitor 9 Million Acres New Mexico State Land Office CIVIL GOVERNMENT
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EARNINGS UPDATE Solution: Global Monitoring Service VIEW TRENDS OVER TIME MONITOR THOUSANDS OF LOCATIONS Made possible by Planet’s unique global, near-daily archive AI-enabled system that analyzes changes in infrastructure, objects and activities to deliver early intelligence for strategic planning and threat anticipation © Copyright 2026 Planet Labs PBC All Rights Reserved 8
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EARNINGS UPDATE High-frequency ocean and coastal monitoring with AI-enabled 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 © Copyright 2026 Planet Labs PBC All Rights Reserved 9 MONITOR ACTIVITY & CLASSIFY VESSELS TYPES Solution: Maritime Domain Awareness
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EARNINGS UPDATE Solution: Area Monitoring System 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 eventsMONITOR THOUSANDS OF FIELDS GLOBALLY Made possible by Planet’s unique global, near-daily archives © Copyright 2026 Planet Labs PBC All Rights Reserved 10
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EARNINGS UPDATE WIP AIRCRAFT DETECTION Planet released its new Aircraft Detection Analytic Feed, which automates daily detection of aircraft, including commercial, private, and military, around the world. This AI-powered product provides global insights and time series analytics to analyze patterns of life, geopolitical anomalies, and regional events based on Planet's high frequency scan of the Earth. It represents the industry’s first aircraft detection product offering insights at a global scale. © Copyright 2026 Planet Labs PBC All Rights Reserved 11 Civil Government RWANDA SPACE AGENCY In June, Planet and the Rwanda Space Agency launched a national satellite data program to provide daily feeds and imagery to government agencies, public universities, and startups. Marking Planet’s first national program of its kind in Africa, the initiative establishes high-resolution satellite data as a foundational tool for Rwanda's agriculture, urban management, and disaster response. This deal marks Planet’s first national program of its kind in Africa. Lake Muhazi, Rwanda • June 2026 • PlanetScope Mosaic
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EARNINGS UPDATE WIP AIRCRAFT DETECTION Planet released its new Aircraft Detection Analytic Feed, which automates daily detection of aircraft, including commercial, private, and military, around the world. This AI-powered product provides global insights and time series analytics to analyze patterns of life, geopolitical anomalies, and regional events based on Planet's high frequency scan of the Earth. It represents the industry’s first aircraft detection product offering insights at a global scale. © Copyright 2026 Planet Labs PBC All Rights Reserved 12 Monitoring Supply Chains INTERNATIONAL SUPPLY CHAIN EXPANSION As global manufacturing undergoes a structural shift, The Economist leveraged Planet’s daily satellite data to map and quantify the physical expansion of supply chains across emerging markets. The story illustrates how commercial enterprises and media partners rely on Planet's high-frequency data to monitor infrastructure developments, track supply chain investments, and gain unmatched visibility into critical global trade trends. Ain Sokhna, Egypt • May 16, 2026 • PlanetScope 2018 2022 2026
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EARNINGS UPDATE WIP AIRCRAFT DETECTION Planet released its new Aircraft Detection Analytic Feed, which automates daily detection of aircraft, including commercial, private, and military, around the world. This AI-powered product provides global insights and time series analytics to analyze patterns of life, geopolitical anomalies, and regional events based on Planet's high frequency scan of the Earth. It represents the industry’s first aircraft detection product offering insights at a global scale. © Copyright 2026 Planet Labs PBC All Rights Reserved 13 Natural Disaster Response FLOODING IN NEPAL AND CHINA Planet’s high-frequency satellite imagery played a vital role in monitoring the severe flooding and landslides along the Nepal–China border. By rapidly deploying PlanetScope data and updating the open disaster data release in real time, Planet empowered international news outlets like The New York Times and global relief organizations to track environmental changes, identify newly formed barrier lakes, and coordinate emergency response efforts on the ground. FLOODING • Tupche, Nepal • PlanetScope Aug 27, 2026Aug 12, 2026
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EARNINGS UPDATE WIP AIRCRAFT DETECTION Planet released its new Aircraft Detection Analytic Feed, which automates daily detection of aircraft, including commercial, private, and military, around the world. This AI-powered product provides global insights and time series analytics to analyze patterns of life, geopolitical anomalies, and regional events based on Planet's high frequency scan of the Earth. It represents the industry’s first aircraft detection product offering insights at a global scale. © Copyright 2026 Planet Labs PBC All Rights Reserved 14 Defense & Intelligence BRIDGE CONSTRUCTION OVER TUMEN RIVER As North Korea and Russia advance bridge construction over the Tumen River, leading defense analysts and media outlets rely on Planet’s satellite constellation to track progress on both sides of the border. From identifying newly built customs facilities to monitoring strategic transport corridors alongside the existing rail link, Planet’s high-frequency data plays a vital role in revealing key infrastructure developments impacting regional stability and global security. TUMEN RIVER BRIDGE • North Korea - Russia Border • August 9, 2026 • SkySat
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EARNINGS UPDATE Planet Media Highlights © Copyright 2026 Planet Labs PBC All Rights Reserved 15 June 9 | Planet Labs CEO: Space is booming because real world applications are booming June 24 | The most powerful economic indicator in the world is orbiting above you July 7 | We Need Planetary Intelligence in the Age of AI August 1 | Oil leak spreads from a sanctioned tanker grounded off Oman, images show August 3 | Satellites from Berlin? This company wants to build them right in the heart of the capital August 19 | Chinese firms are wrapping their supply chains around the globe
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EARNINGS UPDATE Q2 RevenueBy geography Q2 RevenueBy sector Diversified Business Mix Note: Planet has a Fiscal Year (FY) ending January 31. Note: Estimations include rounding assumptions. Note: North America (“NAM”); Asia Pacific & Japan (“APJ”); Europe, Middle East, and Africa (“EMEA”), and Latin America (“LATAM”). Note: From time to time, management conducts a review of the sector assignments of our customer accounts to ensure accuracy based on management's understanding of the end customer use cases at the time of evaluation. Based on management's determination, this review process may result in the re-assignment of certain customers. 48% © Copyright 2026 Planet Labs PBC All Rights Reserved 16 70% 15% 15% 16% 2% 34% Defense & IntelligenceCommercialCivil GovernmentEMEALATAMAPJNAM
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EARNINGS UPDATE Driving Growth 11% YoY Growth 58% YoY Growth Backlog1 ($ in millions) 2Q’26 2Q’27 $815 2Q’26 2Q’27 $73.4 $116.1 Note: Planet has a Fiscal Year (FY) ending January 31.1Non-GAAP financial measure. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. $736 $61.1 2Q’252Q’25 $214 Revenue ($ in millions) © Copyright 2026 Planet Labs PBC All Rights Reserved 17
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EARNINGS UPDATE Note: Planet has a Fiscal Year (FY) ending January 31.1Non-GAAP financial measure. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. © Copyright 2026 Planet Labs PBC All Rights Reserved 18 Rule of 401 Non-GAAP Gross Profit1 ($ in millions) 52% YoY Growth 2Q’26 2Q’27 2Q’262Q’272Q’252Q’25 $68 $45$35 6% 29% 70% Significant Gross Profit Expansion and Margin Discipline
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EARNINGS UPDATE (41) (57) (55) (11) 15 Focus on Sustainable Growth & Annual Profitability Note: Planet has a Fiscal Year (FY) ending January 31.1Non-GAAP financial measure. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation. Adjusted EBITDA1 FY22FY23FY24FY25FY26 Adjusted Free Cash Flow1 FY22FY23FY24FY25FY26 (57) (87) (93) (64) 53 © Copyright 2026 Planet Labs PBC All Rights Reserved 19 Annual Revenue($ in millions) FY22FY23FY24FY25FY26 $131 $191 $221 $244 $308
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EARNINGS UPDATE ●Drive strong and predictable revenue growth ●Gross margin upside from one-to-many data subscription model ●Build the business for high margins and sustainable cash flow generation ●Scale satellite services ●Scale new AI-enabled solutions ●Unleash AI on Planet’s deep proprietary datasets ●Bring differentiated next gen space systems to orbit Focus on Execution ●Focus direct sales force on large customers in core growth verticals ●Leverage data & solutions to embed deeply with satellite services customers ●Support small customer opportunities on the self service platform Product & R&D Go-to-Market Financial © Copyright 2026 Planet Labs PBC All Rights Reserved 20
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EARNINGS UPDATE Key Drivers ●Large government sales opportunities ●Bringing AI-enabled solutions to market ●Launching next generation satellites ●Scaling in Satellite Services ●R&D investments in: 1.Space systems capabilities 2.New AI-enabled solutions ●CapEx to: 1.Build and launch next generation fleets 2.Scale manufacturing capacity 3.Supply chain resilience ●Efficient investment focused on growth and scale Fiscal 3Q’27 and FY’27 Outlook Note: Planet has a Fiscal Year (FY) ending January 31.1 Non-GAAP financial metric. Please refer to the definitions and reconciliation to the most comparable GAAP measure at the end of this presentation.2 Planet 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 and depreciation and amortization are uncertain or out of Planet’s control and cannot be reasonably predicted. The actual amount of these expenses during the period will have a significant impact on Planet’s future GAAP financial results. Accordingly, a reconciliation of Planet’s Non-GAAP outlook to the most comparable GAAP measures is not available without unreasonable efforts. 3Q’27 FY’27 Revenue $101M - $105M$430M - $441M Non-GAAP Gross Margin %(1)(2) 56% - 58% 55% - 57% Adjusted EBITDA(1)(2) ($6) - ($1)M $3 - $10M Capital Expenditures $30M - $37M$100M - $115M © Copyright 2026 Planet Labs PBC All Rights Reserved 21
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London Heathrow Airport • Hounslow, United Kingdom • April 07, 2026 • SkySat APPENDIX
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in millions) Note: Planet has a Fiscal Year (FY) ending January 31. Non-GAAP Gross Profit and Gross Margin % Three Months Ended July 31, 2024July 31, 2025July 31, 2026 GAAP Gross Profit $ 32.3 $ 42.3 $ 65.6 (+) Stock-Based Compensation 0.9 1.9 1.9 (+) Amortization of Acquired Intangible Assets 0.8 0.7 0.8 (+) Restructuring costs 1.2 – – Non-GAAP Gross Profit $ 35.2 $ 44.9 $ 68.3 GAAP Gross Margin % 53% 58% 57% Non-GAAP Gross Margin % 58% 61% 59% © Copyright 2026 Planet Labs PBC All Rights Reserved 23
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures($ in thousands) Note: Planet has a Fiscal Year (FY) ending January 31. Adjusted EBITDA Three Months Ended July 31, 2024 July 31, 2025 July 31, 2026 Net Loss $ (38,668) $ (22,592) $ (9,353) (+) Interest expense – 317 1,439 (+) Interest Income (2,771) (2,172) (6,433) (+) Income tax provision 897 497 733 (+) Depreciation and amortization 13,145 10,622 10,788 (+) Change in fair value of warrant liabilities 602 5,679 – (+) Stock-based compensation 11,566 13,456 17,060 (+) Restructuring costs 10,499 – – (+) Certain litigation expenses – 288 (411) (+) Other (income) expense, net 363 311 105 Adjusted EBITDA $ (4,367) $ 6,406 $ 13,928 © Copyright 2026 Planet Labs PBC All Rights Reserved 24
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures($ in thousands) Note: Planet has a Fiscal Year (FY) ending January 31. Adjusted EBITDAYear Ended January 31, 2022 2023 2024 2025 2026 Net Loss $ (137,124) $ (161,966) $ (140,509) $ (123,196) $ (246,860) (+) Interest expense 8,772 – – 832 3,436 (+) Interest Income (21) (7,672) (15,414) (10,257) (14,329) (+) Income tax provision 2,110 847 815 2,460 4,655 (+) Depreciation and amortization 45,043 43,330 47,639 45,637 41,825 (+) Debt extinguishment (gain) loss 1,690 – – – – (+) Change in fair value of convertible notes and warrant liabilities (5,726) (6,554) (13,709) 15,116 161,400 (+) Stock-based compensation 41,956 75,544 57,132 48,485 54,995 (+) Restructuring costs – – 7,376 10,574 – (+) Employee transaction bonuses in connection with business combination– – 2,317 – – (+) Certain litigation expenses – – – 799 11,189 (+) Employer payroll taxes related to earnout share vesting – – – – 2,539 (+) Other (income) expense, net 2,248 (330) (931) (1,077) (3,375) Adjusted EBITDA $ (41,052) $ (56,801) $ (55,284) $ (10,627) $ 15,495 © Copyright 2026 Planet Labs PBC All Rights Reserved 25
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Note: Planet has a Fiscal Year (FY) ending January 31. Backlog July 31, 2024July 31, 2025July 31, 2026 Remaining performance obligations $ 112,093$ 690,066$ 753,117 Cancelable amount of contract value 101,407 46,011 61,746 Backlog $ 213,500$ 736,077$ 814,863 © Copyright 2026 Planet Labs PBC All Rights Reserved 26
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Note: Planet has a Fiscal Year (FY) ending January 31. Free Cash Flow Six Months Ended July 31, 2026 Net cash provided by (used in) operating activities $ 68,388 (-) Purchases of property and equipment (44,656) (-) Capitalized internal-use software (2,435) Free cash flow $ 21,297 (+) Litigation settlement payments 7,530 Adjusted free cash flow $ 28,827 © Copyright 2026 Planet Labs PBC All Rights Reserved 27
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in thousands) Note: Planet has a Fiscal Year (FY) ending January 31. Free Cash Flow Year Ended January 31, 2022 2023 2024 2025 2026 Net cash provided by (used in) operating activities $ (42,211)$ (73,933)$ (50,711)$ (14,374)$ 134,362 (-) Purchases of property and equipment(10,313) (10,440) (37,991) (44,297) (76,714) (-) Capitalized internal-use software (4,618) (2,320) (4,419) (5,322) (4,783) Free cash flow $ (57,142)$ (86,693)$ (93,121)$ (63,993)$ 52,865 (+) Litigation settlement payments – – – – – Adjusted free cash flow $ (57,142)$ (86,693)$ (93,121)$ (63,993)$ 52,865 © Copyright 2026 Planet Labs PBC All Rights Reserved 28
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EARNINGS UPDATE Reconciliation of Non-GAAP Financial Measures ($ in millions) Note: Planet has a Fiscal Year (FY) ending January 31. Rule of 40 Three Months Ended July 31, 2024July 31, 2025July 31, 2026 Revenue $ 61.1 $ 73.4 $ 116.1 YoY Growth 13.6% 20.1% 58.1% Adjusted EBITDA (4.4) 6.4 13.9 % Margin (7.2%) 8.7% 12.0% Rule of 40 6% 29% 70% © Copyright 2026 Planet Labs PBC All Rights Reserved 29
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EARNINGS UPDATE 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, restructuring costs, and employer payroll taxes related to earnout share vesting. The Company defines Non-GAAP Gross Margin as Non-GAAP Gross Profit divided by revenue. Adjusted EBITDA: 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, certain litigation expenses, and employer taxes related to earnout share vesting. Backlog: The Company defines and calculates Backlog as remaining performance obligations plus the cancelable portion of the contract value 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 a substantive 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 the Company’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 value of 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. Adjusted Free Cash Flow: The Company defines and calculates adjusted free cash flow as free cash flow excluding non-recurring payments related to litigation settlements. The Company presents adjusted free cash flow because it believes it provides useful supplemental information to help investors understand underlying trends in the Company’s business and liquidity by excluding the impact of non-recurring events. Management uses these metrics, in addition to GAAP measures, to help manage our business, prepare budgets, and for annual planning. Definitions © Copyright 2026 Planet Labs PBC All Rights Reserved 30
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EARNINGS UPDATE DefinitionsCapital 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. The Company defines 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 the Company’s data services and related revenue, and to provide a comparable view of the Company’s performance relative to other earth observation companies, which may invest significantly greater amounts in their satellites to deliver their data to customers. The Company uses 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 to deliver the Company’s data to clients. As a result of the Company’s strategy and business model, the Company’s capital expenditures may be more similar to software companies with large data center infrastructure costs. Therefore, the Company believes it is important to look at the level of capital expenditure investments relative to revenue when evaluating the Company’s performance relative to other earth observation companies or to other software and data companies with significant data center infrastructure investment requirements. The Company believes Capital Expenditures as a Percentage of Revenue is a useful metric for investors because it provides visibility to the level of capital expenditures required to operate the Company and the Company’s relative capital efficiency. Rule of 40: The Company defines and calculates Rule of 40 as the sum of year-over-year revenue growth and Adjusted EBITDA margin as a percent of revenue. The Company may refer to a “Rule of” number other than 40 to refer to the sum of revenue growth and Adjusted EBITDA margin as a percent of revenue for the period given. © Copyright 2026 Planet Labs PBC All Rights Reserved 31
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EARNINGS UPDATE Media Credits Slide 15: ●CNBC, June 9: Planet Labs CEO: Space is booming because real world applications are booming ●Fast Company, June 24: The most powerful economic indicator in the world is orbiting above you ●TIME, July 7: We Need Planetary Intelligence in the Age of AI ●AP, August 1: Oil leak spreads from a sanctioned tanker grounded off Oman, images show ●Berliner Morgenpost, August 3: Satellites from Berlin? This company wants to build them right in the heart of the capital ●The Economist, August 19: Chinese firms are wrapping their supply chains around the globe © Copyright 2024 Planet Labs PBC All Rights Reserved 32