Redwire (RDW) investor relations material

Demand signals and market environment

• Strong demand for drone and national security space capabilities, driven by US and European government priorities and programs like Golden Dome and Artemis.

• NASA's science directorate faces cuts, but Artemis and Gateway programs are seeing improved support in legislative processes.

• European space budgets are expected to rise, with a key ministerial milestone approaching and increased defense spending across Europe.

• Timing of orders is uncertain due to US government budget cycles and potential continuing resolutions, impacting funding flow.

• Order conversion is primarily budget-driven, with European funding often contingent on US program decisions.

Strategic positioning and technology focus

• Focus on differentiation by priming in very low Earth orbit (VLEO) and maneuverable, refuelable GEO satellite markets, leveraging proprietary modeling and funded programs.

• Investments in digital engineering and simulation have enabled leadership in VLEO and GEO, with intellectual property developed through programs like DARPA OTTR and TETRA.

• Merchant supplier role maintained in large LEO constellations, while moving up the value chain in less crowded, advanced segments.

Acquisition and integration of Edge Autonomy

• Edge Autonomy acquisition expands into airborne systems, leveraging technology and operational similarities between drones and satellites.

• Synergies include shared technology (e.g., cameras, sensors), multi-domain operational capabilities, and vertical integration for combined space and UAS solutions.

• Edge Autonomy's US manufacturing and Blue List qualification position it well for domestic defense demand, while European operations and battlefield-proven platforms support international growth.