Spire Global : Q4 2023 Investor Update

Spire Global

Q4 2023 Investor Update

March 6, 2024

DISCLAIMER AND FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements, including information about management's view of Spire's future expectations, plans and prospects, including our views regarding future execution within our business, and the opportunity we see in our industry, within the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Spire to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are included in documents Spire files with the Securities and Exchange Commission, including but not limited to, Spire's Annual Report on Form 10-K for the year ended December 31, 2022, as well as subsequent reports filed with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on Spire's future results. The forward-looking statements included in this presentation are made only as of the date hereof. Spire cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Spire expressly disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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The Space Company Focused on the Future of Planet EarthTM

Providing global data, analytics and space services

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Business Update

Execution on track;	Environment supportive of
Results exceeding expectations	Spire's solutions

Strong Q4 2023 results

• 10th consecutive quarter of revenue growth
• Lowest GAAP operating loss; 50% YoY improvement

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> Achieved positive adjusted EBITDA; $2 million

> Achieved positive cash flow from operations; $4 million

> Significant free cash flow1improvement to negative $2 million

Growing focus on climate change

• AI models producing forecasts of similar or greater accuracy to classic models; could mark advantage shift to those with massive proprietary datasets and ability to assimilate that data, like Spire

2024 guidance underscores business inflection

> Revenue: $143.0M mid-pt; 35% improvement over '23

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> Non-GAAP op loss: ($1.5M) mid-pt; $24.3M improvement over '23

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> Adjusted EBITDA: $16.0M mid-pt; $27.0M improvement over '23

Executing path to profitability

• Operating cash flow positive
• Adjusted EBITDA1 positive
• Summer 2024 - Free cash flow positive

Increasing space situational awareness

• Space domain becoming increasingly more contested

Heightened global security

• Red Sea attacks increase shipping times and freight rates

Robust aviation travel demand

> Global travel approaching 2019 levels

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1 Non-GAAP financial measure, please see reconciliation tables at the end of this presentation for reconciliation to the most directly comparable GAAP measure

Spire weather prediction models deliver decision insights

Forecasts from Spire's high-resolution model can be accessed before publicly available models,

allowing our users to make decisions concerning the weather faster.

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Sustainable Growth, Driven by Diverse Solutions

	Revenue			GAAP Gross Margins		Non-GAAP Gross Margins1
110.0	($M)	105.7	75%		(%)	75%		(%)
				64%
100.0					60%
				55%
			50%
90.0				50%
		50%
80.3
80.0
70.0			25%			25%
2022	2023	2022	2023	2022	2023
	32% growth			10 percentage point		9 percentage point
				improvement		improvement

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1 Non-GAAP financial measure, please see reconciliation tables at the end of this presentation for reconciliation to the most directly comparable GAAP measure

Leveraged Cost Structure, Driving Towards Profitability

	GAAP Operating Loss	Non-GAAP Operating Loss 1		Adjusted EBITDA 1
0.0		($M)		0.0	($M)		5.0		($M)
						2.1
	Q4'22	Q4'23	Q4'22	Q4'23
(5.0)
			(5.0)		(3.6)	0.0
(10.0)			(8.2)	Q4'22	Q4'23
(15.0)				(10.0)			(5.0)
			(10.2)
	(16.3)
(20.0)		(15.0)			(10.0)	(7.3)
		50% improvement		65% improvement		$9.4M improvement

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1 Non-GAAP financial measure, please see reconciliation tables at the end of this presentation for reconciliation to the most directly comparable GAAP measure

Strong Execution, Leading to Sustainable Cash Generation

	Operating Cash Flow		Capital Expenditures		Free Cash Flow 1
10.0		($M)	0.0		($M)	0.0		($M)
	4.1	Q3'23	Q4'23	Q3'23	Q4'23
5.0			(5.0)
	(5.0)				(2.2)
0.0					(6.3)	(10.0)
Q3'23	Q4'23	(10.0)
(5.0)
				(15.0)
			(11.0)
(5.1)					(16.2)
(10.0)			(15.0)			(20.0)
	$9.2M improvement		42% improvement		86% improvement

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1 Non-GAAP financial measure, please see reconciliation tables at the end of this presentation for reconciliation to the most directly comparable GAAP measure

From Concept to Constellation

Proven. Faster. Scalable.

Spire Space Services allows customers to deploy and scale their own constellation at maximum speed
with minimum risk, by leveraging Spire's proven space platform, global ground station network, end-	9
to-end manufacturing facility, and extensive launch partnership network.

Strong Operational Leverage Driving Transition to Profitability

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1 Non-GAAP financial measure, please see reconciliation tables at the end of this presentation for reconciliation to the most directly comparable GAAP measure