Starburst company overview MARCH 2019 Starburst has rapidly grown to reach a global presence LAUNCH Starburst key milestones INNOVATION Opening of DEFENSE LAB Montreal office 2019 4000 startups

Opening of Munich and 2017 Singapore 2500 startups offices Opening of Los Angeles office 2016 Launch of Paris 1500 startups Launch of Accelerator Starburst in Paris 2015 200 startups 2013 2012 100 startups 50 startups 2 We address the entire aerospace value chain

Starburst startup scope

Space Mobility § Satellites § Launchers § Data communication § Earth observation

Regional Mobility § New concepts (supersonic, hybrid) § Connectivity § Energy management

Urban Mobility § UAS § Autonomous flight § eVTOL § Energy Management Infrastructure ENABLING Technologies § Passenger Experience § Cybersecurity § Airport security § Connectivity/Sensors/Antennas/IoT § Automation § Big data, AI, Machine Learning § Airport retail § Industry 4.0, Robotics

3 Starburst combines 3 complementary activities for a unique value proposition

Starburst service offering ACCELERATOR > Innovation scouting > Matchmaking between startups and corporates

CONSULTING ACCELERATOR > Growth (new products, new markets) > Digitization by innovation STARBURST > Innovation performance VALUE > Agile Transformation PROPOSITION > Custom scouting

VENTURES CONSULTING VENTURES > Global Aerospace fund > Limited Partners investment opportunities

A range of services fulfilling the needs of all businesses interested in Aerospace innovation: startups, corporates, investors 4 proposES a 5-step journey towards best-in-class innovation management

understand Monitor what is happening in 20 different technical domains in term of new startups, new products, fund raising 1 TRANSFORM ENGAGE Increase the maturity of Participate to our global your organization to trigger Accelerator program to discover an efficient and sustainable local innovative ecosystems and management of your 5 2 engage with the most adequate innovation and R&T innovations for your business

Change culture ACQUIRE Expose your engineers and 4 3 Prepare for early strategic business developers to that new technologies acquisition, as well as lean startup engineering later stage less risky M&A development culture

5 Source: Starburst Starburst has built an unmatched global Aerospace innovation ecosystem

Starburst key facts and offices

4000+ STARTUPS SCREENED 100+ YEARS OF AEROSPACE CONSULTING EXPERIENCE

San Francisco Montreal Paris Munich Los Angeles

Singapore

40 AEROSPACE CORPORATE 450+ STARTUPS PITCHED PARTNERS WORLDWIDE

100 LABS & UNIVERSITIES IN EUROPE AND US 6 Starburst is a trusted partner to set up and operate industry specific accelerator programs for clients

External SEED accelerator programs run by Starburst

Innovation Defense Techstars-Starburst Aviation Aerospace & Lab Space Accelerator Accelerator Defense Accelerator

Customer/ French Ministry of Techstars Centech Mubadala Partner Defense Location Paris Los Angeles Montréal Abu Dhabi

Industry focus Defense Space Aviation Aerospace & Defense

Program details § 3-year contract § 2019-2021 § Cohort of startups § 3 year contract § General contractor § Backed by NASA dedicated to § 12-week acceleration Aerospace § Dedicated to JPL, US Air Force, bootcamp per cohort, exchange between Maxar, SAIC, § 12-week program with intense hands- all innovation Lockheed Martin § Mentoring and on mentoring stakeholders related § 13-week acceleration fundraising support § Starburst invests to French forces bootcamp per cohort, services 150k for equity with intense hands- on mentoring § Investing 120k equity per startup 7 Starburst Consulting helps corporates to successfully leverage innovation

Starburst Consulting

CONSULTING OFFER SELECTED REFERENCES

Growth Business Transformation Corporates § Market size, trends & drivers § Production digitization § Competitive landscape through innovative § Go-to-market strategy technology: IoT, AR/VR, AI, big data, cobots, … § Product-market fit Opportunity assessment, biz case, § Business planning process analysis & re-design, § Country assessment technology selection & roll-out § Commercial due diligence § Agile transformation for § Startup valuation productivity increase for large projects Innovation Management § Business digitization – Supply chain § Innovation performance – Customer Experience Startups § Innovation strategy – Support processes (HR, § Incubator / accelerator / CVC Finance, etc.) concept & implementation Investors

8 Starburst Accelerator connects aerospace corporates with innovative startups

Starburst Accelerator

CORPORATES PARTNERS ACCELERATOR PARTNERSHIP

European partners § Access to an ecosystem of 4000+ startups, sorted along 18 technology verticals § Access via: – Global selection committees (10-12 per annum) to assess 10 promising startups - next one in Munich in December at MTU – Private pitches sessions, organized twice a year at a corporate partner’s premises and during which 5-8 startups present in detail American partners their value proposition through 30’-45’ pitches – Mentoring opportunities (mutual learning opportunity) in the context of the Starburst Accelerator program (1-year program bringing startups from Seed to Series A)

9 Starburst Ventures offers limited partnerships to benefit from the next disruptive innovation in aerospace

Starburst Ventures

STRATEGIC SERVICES LIMITED PARTNER TERM

Detailed Startups activities

Activity Market Maturity Build supersonic commercial passenger aircraft to reduce flight itineraries by more than half the time, thereby opening up new markets, and increasing airlines’ flight frequency US$5 –10b Prototype phase

Innovative solutions for aviation efficiency and safety; Main product: Optimizing big data US$500m Pre-industrialization to reduce fuel consumption

Adoption of innovative processing techniques to transform complex satellite imagery into simple, understandable information usable by financial markets US$1b Commercialization

Earth Observation Constellation System for Agriculture and Urban Monitoring data, with plans to create open platform for application development using satellite data US$1 – 3b Pre-industrialization ü Standard US VC terms Earth Observation Constellation System for weather forecasting and climate monitoring Executive Summary US$1 – 3b Commercialization to provide timely data needed for humanitarian assistance and disaster relief > Deal flow report Delivering real-time low altitude airspace information and services for all (embedded US$5b Pre-industrialization airspace intelligence for drones, surveillance, safety, and security…)Evaluation Risk Amphibious drone freight delivery that docks at a maritime port, and transports goods by }Experienced and competent balanced team backed by strong advisory board High flight US$500m } Team has technical expertise in Prototype phase aerostructure, fuel systems, ‒ Business Leadership: Founder Blake and Co-founder Josh has started companies hydraulics, fluid dynamics, propulsion, certification, production which Groupon acquired. Blake’s ability to discuss engineering content despite lack Team of background shows high learning ability and passion } In-depth knowledge of industry nuances may be lacking as all 3 Connecting communication products with 5g reception at greater distance, on smaller leaders have no core experience in commercial aviation or technical ‒ Technical Leadership: Co-founder Joe has background in FAA certification. Rest of US$1b understanding of supersonic jets. Advisers from previous supersonic Commercialization devices, higher resolution and data rates, usingthe team were in technical roles at Pratt & Whitney, Boeing, Virgin millimetre wave and radar technology. Galatic, Scaled programs will be able to provide strong support. Composites, SpaceX, and NASA Low Cloud HPC simulation platform, turn-key platform for running high performance }Application of technology to capture premium traffic in specific long-haul flights High computing and simulations in the enterprise. US$5 – 10b Commercialization ‒ Modifying existing supersonic aircraft technology to eliminate need for creating } Demonstrator flight failure may stop project though unlikely given Product certification, thus able to go to production faster that risk can be greatly reduced from the many tests and data Large drone capable of carrying payloads in excess of 500kg with ducted fan design and ‒ Offering new set of air travel metrics and product offering for international airlines comparison for after action reviews and modifications before an ü actual flight takes place $10 M minimum commitment VTOL capabilities to navigate in urban environment.‒ Boom’s business model closely resembles now defunct programs Concorde and US$10b Prototype phase Tupolev Tu-144 which are providing learning opportunities for Boom Low

High > }Niche market estimated at US$268b over 10 years in which Boom can monopolize } Regulatory hurdles relating to emissions and noise level may impede Private briefings on business viability of supersonic liners }Closest competitors are Boeing and Airbus Market ‒ Boeing and Airbus aircraft programs take 10-15 years to design and produce. } Changes to market conditions may affect the business premise Supersonic liners a possible market for them in future but too small to enter now } Low risk of aerospace incumbents entering commercial supersonic ‒ Other supersonic aircraft designers are operating in the business jet space space. Current supersonic programs are focused on business aviation Low

} Risk of lack of partners’ support is low given strong business case for High OEMs to partner Boom if their plans go according to schedule. Risk }Strong partnership agreements to jointly develop aircraft and key segments eg can be further mitigated with financial incentive in the form of engines will be required as the concept gathers interest from OEMs Program commissions or royalty fees to encourage program participation }Capital intensive R&D efforts mean subsequent rounds of capital will be needed to Management } Funding is also a low concern if their plans go according to schedule. complete product. Funding will also come from sales traction from airlines Surge in sales due to customers’ confidence as product nears delivery will provide funding support as well Low startups of your interest ü 80 / 20 carried interest split

Current flying car projects maturity Flying car concept have been around for 70 years. The last 20 years have seen a surge of > White Papers on our ü such projects drove by ripe enabling technology and entrepreneurial passion. 2.5 % management fees

DESIGN Prototype Successful Commercialization XTI - Trifan 600 flight phase Moller International - Skycar 400 Krossblade Aerospace - Skycruiser Moller International Aeromobil - Aeromobil 3.0

* : Range estimated Terrafugia TF-X - Skycar 200 Urban Aeronautics - Beyond Roads - Maverick 1000 Urban Aeronautics Lilium- AviationCormorant UAV Cormorant Manned “Make fast, clean air travel available to everyone” Laboratoire Heudiasyc Terrafugia Transition Aurora Flight Sciences - domains of main interest Xplorair Product Parajet - SkyRunner LightningStrike PAL-V International Time to Joby Aviation - S2 Lilium Aviation First flight 2018 - The German Company Lilium Aviation develops lightweight, Market ü electric planes. The Lilium Jet is setting the standard for Parajet - SkyQuad 10 year fund with 6 year lightweight commuter airplanes. Powered by 36 directable Main CharacteristicsVaylon - Pegase

Max Range (km) ducted fans, the aircraft will have VTOL capabilities and will be Uber - Elevate Flike Number of VTOL able to travel at high speed. Electric propulsion in used to Range Max Speed Airbus & Italdesign - Pop.Up reduce pollution and noise in order to be usableMA Hoverbike close to- Hoverbikeurban passengers Capability 100 areas. NASA - Puffin Zee Aero 300 km 300 km/h 2 Ignazio Gizio - Volocopter - VC200 CellCraft G450 Volocopter - VC400 • Founded in 2015, 35 employees Technical solution & Maturity Volocopter Company - VC100 • Raised 10M€ Series A fromJetmanAtomico Status • Supported by ESA Category Energy Type Today Status Silkovsky Airbus - Vahana Fixed WingsEhang - Ehang 184 Electric Prototype > Gilching, Germany Website: www.lilium.com Fund Forum with our LPs Hoversurf - Scorpion investment period Showcase Martin Jetpack Jetpack Aviation - JB10 Zapata Racing - Flyboard Air 10 © Starburst Accelerator CONFIDENTIAL 6 once a year ü Offer document on request © Starburst Accelerator CONFIDENTIAL 7 > Technical advisory board every quarter

10 events planned for SHOWCASING and NETWORKING

2019 Global Events Selection Committee Washington DC Event Support 3 Oct 2019 Hosted by NASA London Montreal 27 Nov 2019 16 Apr 2019 Hosted by MoD Hosted by Centech Munich 8 Oct 2019 Chicago Hosted by Google Tel Aviv 1 May 2019 28 May 2019 Hosted by AUVSI Hosted by IAI Seoul San Francisco 16 Oct 2019 26 Sep 2019 Hosted by ADEX Starburst Demo Day Los Angeles Singapore Atlanta 12 Mar 2019 27 Feb 2019 10 Apr 2019 Paris Hosted by Aero Corp Hosted by Aviation Festival Asia Hosted by MRO 21 Mar 2019 Los Angeles Americas Paris Singapore 23 May 2019 Singapore 18 Jun 2019 23 Sep 2019 Hosted by JPL 24 Sep 2019 Paris SWITCH Los Angeles Hosted by MRO Asia 18 April 2019 5 Dec 2019 Meetup researchers- Hosted by Aerospace entrepreneurs Corporation Paris 17-23 Jun 2019 Le Bourget Airshow 11 40% of OUR startups have raised Series A funding

Starburst startups 2013 – 2017 # startups raised Average round size # startups accelerated Series A - VC funds Amount raised per startup

128 48 (38%) 219 M$ 4.6 M$

97 42 (43%) 438 M$ 10.4 M$

9 4 (44%) 17 M$ 4.2 M$

234 94 (40%) 674 M$ 7.2 M$

Source: Starburst, public data 12 Starburst leverages emerging technologies to drive leadership in new markets and operational excellence

Starburst unique selling proposition EXCLUSIVE FOCUS ON AVIATION AND AEROSPACE § In-depth aerospace economics & technology understanding § Unique global industry experts network

KNOWLEDGE OF ALL AEROSPACE INNOVATIONS GLOBALLY § Unique global innovation ecosystem bringing all stakeholders together § Leading edge innovations for business growth and productivity increase § Superior future market models based on bottom-up new markets insights (UAM, drones, etc.)

INNOVATION IMPLEMENTATION § Best practice innovation management with RoI focus § Innovation deployment based on use case analysis, business case and process re-design § Business model innovation and business digitization with manufacturing focus

STRATEGY WITH DELIVERY § Pragmatic and tailored-made recommendations with implementation in mind § Implementation support to make strategy happen 13