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Avio 2016 Full Year Results

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Avio 2016 Full Year Results Investor Presentation STAR Conference, 25th March 2021 AVIO SpA- All rights reserved – subject to the restrictions of last page. Disclaimer This document has been prepared by Avio S.p.A. (“Avio” or the “Company”). This document might contain certain forward-looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Avio’s current expectations and projections about future events. Because these forward-looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Avio to control or estimate. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. Avio does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. Any reference to past performance or trends or activities of Avio shall not be taken as a representation or indication that such performance, trends or activities will continue in the future. This document does not constitute an offer to sell or the solicitation of an offer to buy Avio’s securities, nor shall the document form the basis of or be relied on in connection with any contract or investment decision relating thereto, or constitute a recommendation regarding the securities of Avio. AVIO SpA- All rights reserved – subject to the restrictions of last page. 2 Agenda • Avio Business • Financials • Appendix AVIO SpA- All rights reserved – subject to the restrictions of last page. 3 Avio : a pure player in Space Launchers ▪ 320 M€ revenues (10% CAGR 2014-19) ▪ 1.000 employees ▪ 330 M€ Mkt Cap ▪ 62% free float ▪ 4% Mgmt share NEW 2022 Ariane 6 Vega C ▪ European heavy launcher (10.5 tons in GTO) ▪ European light launcher (1.5 tons in LEO) ▪ Avio: partner and supplier for strap-on ▪ Avio: developer, manufacturer, launcher boosters system integrator AVIO SpA- All rights reserved – subject to the restrictions of last page. 4 Industrial operations in Europe and French Guyana Colleferro •SRM design, production •Mission analysis •Flight Software •Stage integration •Testing Paris SRM Launcher •Large SRM Manufacturing integration design/integration Kourou City From East to North launch Main stage integration Upper stage integration Kourou European Spaceport (CSG) • SRM casting and integration Propellant • Vega launcher operation casting Firing tests AVIO SpA- All rights reserved – subject to the restrictions of last page. Source: Company information 5 Testing and launch operations in Europe and French Guyana Development activities progressing with new projects Vega C Ground Qualification Review Vega E firing test in the USA AVIO SpA- All rights reserved – subject to the restrictions of last page. Source: Company information 6 Space Rider contract signature SPTF facility under construction in Sardinia 15 © 2019 AVIO SPA AVIO SpA- All rights reserved – subject to the restrictions of last page. The launch industry is the gateway to the Space economy Global space value chain (2019) Launch Satellite Ground Satellite industry(1,2) manufacturing Segment(3) services(2,4) End users $ 4.9bn $ 12.5bn $ 130.3bn $ 123bn (1): Includes launcher manufacturing and launch service activities Source: Satellite Industry Association (2020) (2): Commercial services revenues only (3): Includes GNSS chipsets and Related AVIO SpA- All rights reserved – subject to the restrictions of last page. (4): Includes commercial humanflight 7 Space is now attracting growing equity investments Equity investments in Space Ventures(1) Space Ventures IPO - Equity value ($ Bn) Avio 0,4 (2017) 25.7 +28% CAGR RocketLab 4 (2021E) Astra 5.8 2 (2021E) Virgin Galactic 2,5 (2019) 3,9 Spire 1,6 (2021E) 2,4 Investments bn) ($ Investments BlackSky 1,5 (2021E) 0,5 0,5 0,4 Momentus 1,2 (2021E) 2009 11 13 15 17 2019 2020 MDA 2,2 (2021E) (1) Annual non-governmental equity investment Source: Space Angels, Press Search AVIO SpA- All rights reserved – subject to the restrictions of last page. Source: Company information 8 Launch service demand continuing to grow, especially in LEO World total mass at launch (tons) Key applications X = CAGR 3,999 Orbit +6% • Space Exploration (altitude) 198 • Traditional Telecommunications 15% 1.039 Other Orbits 2,448 (Mars, Moon 277 • Navigation asteroids) 55 -3% GEO 1.355 +6% • Boradband connectivity 2.485 • Defence Intelligence MEO 162 +12% • Climate monitoring • Mobility tracking LEO 876 • Search and Rescue 2012-20 2021-29 AVIOSource SpA- All r:i gAviohts re sestimateerved – subje onct tEuroconsulto the restrictionsdata;of last Excludespage. dummy payloads, cargo to ISS and manned missions 9 Innovative services driving strong demand growth • Investors & financial • Farmers Infrastructure & Environment & analysts (Quant, • Insurance companies Transportation Climate Commodity) • Meteorological agencies • Intelligence analysts • Civil Protection agencies • Customs & Border agents • Defense • Direct broadband Connectivity - Security & • Intelligence agencies connectivity for remote areas IOT Intelligence • Rescue operations in the globe • Retail (Starlink, OneWeb, Kuiper) and corporate/ind. (Telesat) customers • Satellite Television • Telescopes and devices Traditional Science & • Mobile phone • Planetary Defense telecom Exploration communications • Human exploration © 2019 AVIO SPA AVIO SpA- All rights reserved – subject to the restrictions of last page. 10 Growing order backlog for Ariane and Vega Ariane Backlog: >20 flights Vega Backlog: 8 (+10) flights • Ariane 5: 8 launches • 8 Vega/Vega C launches: • Ariane 6: >12 launches until Backlog - 4 EU govt 2025-26: - 4 Commercial/Export - 9 EU govt - Production of a Batch of 10 - 5 commercial/Export launchers for 2023-2026 kicked- off Expected • ~40 Galileo by 2030 • ~10 Copernicus by 2030 (750kg/each) (2000kg/each) New EU constellation concept: • EU LEO-based broadband • Secure and h-speed connection • Launch expected in 2025-30 Source : Arianespace, ESA, EU Commission, EuroConsult AVIO SpA- All rights reserved – subject to the restrictions of last page. 11 One remarkable success: 53 sats in orbit with SSMS New Vega rideshare service (SSMS) • 50+ satellites from 20+ customers • Sat mass 1<->150 kg • Two different orbital planes (1st time) • Rideshare modular concept • Next smallsat mission April 2021 SOURCE: ESA, Arianespace, Press search AVIO SpA- All rights reserved – subject to the restrictions of last page. 12 Vega backlog recently extended to 2026 New Vega C production batch launched • 10 new Vega C missions for 2023-26 • European customers: ESA, EC, National Space Agencies • 9 Copernicus orders with Vega C expected by 2021 New launch contract: CO3D • Jointly developed with CNES • 50 cm resolution optical earth observation satellites • Constellation featuring 4x 300 kg satellites • High revisit rate • Single rideshare Vega C launch SOURCE: Arianespace, ESA Vega C AVIO SpA- All rights reserved – subject to the restrictions of last page. 13 European Launchers – product range evolution roadmap Capacity 10.5 t 1.5 t 6 t 11 t 2.3 t 0.8 t 0.3 t 2,8 t 12 t GTO LEO GTO GTO LEO LEO LEO GTO Reference LEO Launch & Re-entry Orbit SSMS TODAY 2021/2022 2023 2025 Vega Ariane 5 Vega Ariane 62 Ariane 64 Vega C Space Vega E A6 Evo Rider Light Estabilshed legacy and Commonalities and cost Broader offering and track record reduction further cost reduction © 2019 AVIO SPA AVIO SpA- All rights reserved – subject to the restrictions of last page. 14 Avio established as a global player through its flagship product Vega dedicated to LEO launch NOT EXHAUSTIVE Proba V LISA Gold Sentinel HellasSat Azerspace 4xSkySat Thor 7 IXV Aeolus Terrestar-1 GHGSat Galileo Hylas Biomass KazEOSat-1 = Ariane 5 AMC-21 Anik F3 KompSat 7 = Vega Lemaitre BepiColombo Nemo HD Galaxy 15 Amald LuxSat i Einstein SICRAL 2 Superbird VD20x2 Ceres Bsat 3b Spire Spaceflight Undisclosed Ingenio Spainsat MexSat -3 VNredSat-1° Mohammed Vinasat Arab Falcon sat Eye Telkom Brysat RASCOM GSAT Athena- LARES PeruSat Venus GokTurk-1a TheoSat Fidus Nilesat Optus OptSat Ariane 5 Cosmo 2G TIBA Vega Prisma AVIO SpA- All rights reserved – subject to the restrictions of last page. 15 VV17 corrective actions defined - VV18 return to flight underway VV17 VV18 Inquiry Commission Investigation* • Integration mistake in the electrical actuation system of the 4th stage (AVUM) • Full review of quality controls and AVUM check procedures Z9 • Longer-term improvement plan agreed • Launcher readiness by April Z23 AVUM shipping P80 Solid stages already integrated *Established on 18 November 2020, chaired by ESA and Arianespace with participation of CNES and Avio SOURCE: Arianespace, ESA © 2019 AVIO SPA AVIO SpA- All rights reserved – subject to the restrictions of last page. 16 Development activities progressing with new projects Vega C Ground Qualification Review Vega E firing test in the USA Space Rider contract signature SPTF facility under construction in Sardinia © 2019 AVIO SPA AVIO SpA- All rights reserved – subject to the restrictions of last page. 17 New contracts signed for tactical propulsion Aster • Contract with MBDA France S.A.S. • Production activities for a first stock of boosters for ASTER-30
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