ImageSat International (I.S.I) Ltd.

Investor Presentation • Jun 4, 2025

Investors Update 1 st Quarter 2025

DISCLAIMER

The information contained herein is only a summary, does not exhaust all the information about the Company and its Operations, and does not replace a review of the Company's interim consolidated financial statements, Annual Reports and in other information which is filed and furnished with the Israel Securities Authority. Material information regarding the Company which is included in this slide deck has been published to the public in the past as part of the Company's reporting. That said, the information or data presented, may be presented in a different manner and/or segmentation from those previously furnished in the Company's Reports.

The presentation does not constitute or form part of any invitation or offer to invest or purchase the Company's securities and in particular does not constitute an "offer to the public" or "sale to the public" of any kind, the presentation is intended solely for the provision of information included in it and does not constitute a recommendation or opinion or a substitute for the judgment of an investor for any kind of decision and does not pretend to include all the information that may be relevant for the purpose of making any decision regarding the investment in the Company's securities and in general.

This presentation may include forward-looking information as defined in the Securities Law, 1968, including forecasts, goals, business strategy, evaluations and estimates regarding both the Company's activities and the markets in which it operates, as well as any other information, in any form in which it is presented, that relates for future events or matters, the realization of which is uncertain and not under the Company's control. In addition, the images included in this presentation, are for demonstration & illustration purposes only.

Any forward-looking information is based on current estimates and assumptions, among others, by the Company's management, which, although Company believes are reasonable, are inherently uncertain and are partially based on subjective estimates. The realization or non-realization of the forward-looking information will be affected and depended on a variety of factors including, including the risk factors which are inherent to the Company's activity, third party decisions, including regulatory authorities and engagements with third parties, as well as by developments in the economic environment and the external factors which impact the Company's activity, which cannot be assessed in advance and are out of the Company's control. Actual results and achievements of the Company in the future may be materially different from those presented in the forward-looking information presented in this presentation. The Company does not undertake to update or change such a forecast or estimate in order to reflect events and/or reasons that will apply after the date of this presentation and does not undertake to update this presentation.

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In addition, the images included in this presentation, are for demonstration & illustration purposes only.

Q1 2025 – AT A GLANCE

Deals Announced in Q1 - \$42m MOM (Signed in Q2)

Revenues: \$7.5m

Gross Profit Margin Before Depreciation : 44%*

EBITDA: \$0.38m

Net Loss: (\$8.1m)

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Operating Cashflows \$2m

Account Receivable Reduction 25%

* Gross Loss (after depreciation): \$(4.5m) resulting from depreciation of \$7.8m in the quarter

• ❑ Company signed a contract for the provision of services from EROS C2 & EROS C3 as well as related maintenance/ground services for 2 years, for \$42m
• ❑ Company converted year end backlog into \$7.5m revenues in 1 st quarter 2025.
• ❑ Q1 25 vs. Q1 24 revenues decline is mainly due to delays in executing milestones in Satellite Solutions & Supporting Infrastructure product line projects. These milestones are expected to be executed in the following quarters during 2025.
• ❑ Increase in gross profit before depreciation margin in Q1 25 vs. Q1 24 resulting from a reduction in COGS, and a high weight of revenues from Intelligence as a Service product line during Q1 25.
• ❑ Q1 25 vs. Q1 24 Net loss increase as result of lower revenues and accelerated depreciation of the EROS C3 satellite in the third quarter of 2024 and the beginning of the depreciation of the Runner satellite in the third quarter of 2024.
• ❑ Company reduced Account Receivables from \$24m in Q4 24 to \$18m in Q1 25.

YE 2024 ADJUSTED BACKLOG UTILIZATION PLAN

YE 2024 Adjusted Backlog by Product Line¹ (USD in Millions )

▪ ISI's YE24 Adjusted Backlog of \$212 million utilization plan represents 19.6% and 31.7% topline growth in 2025 and 2026 vs. 2024 \$ 58m revenues (from backlog only!)

▪ >\$100m Defence Tech Backlog

* YE 2024 Adjusted backlog includes the May 25, 2025 announced Customer A contract of \$42 Million EROS C2 and EROS C3 two years satellite services contract. 5

SIGNIFICANT REVENUE GROWTH

• 20% Cumulative average revenue growth 2020-2025

• More than 30% year-on-year growth in last two years

DELIVERING STRONG EBITDA IN AN EVOLVING REVENUE MIX

Revenue by Product Line, EBITDA & EBITDA Margin for

• ISI continuously delivers strong EBITDA levels compared to its international peers²
• EBITDA margins range between 25.3%- 44.2%
• EBITDA levels are impacted by revenue mix as result of ISI's strategic expansion into two additional business lines: Intelligence as a Service and Satellite solutions & supporting infrastructure, which have higher COGS.
• ISI's growth in the two additional product lines is essential to sustain topline and EBITDA growth

• Signing of Satellite Services Customer A contract, is expected to increase ISI's EBITDA further

• Source: Company Annual Reports and Q1 2025 Directors Report.

• International peers include competitors mentioned in chapter 8.8.1 to the Company's 2024 Annual Report. 7

ISI PROFILE

A LEADING PROVIDER OF SPACE-BASED INTELLIGENCE SOLUTIONS¹

LARGE TAM & STRONG MARKET POSITION

TAM² : \$24.8bn (2023) to \$78.6bn (2033)

Trusted Partner in Defense & Government Sector (>95% of sales); Considerable Commercial Potential³

HIGH PERFORMANCE ASSETS & CAPABILITIES

Unique Constellation of Existing and Future VVR/VVHR⁴ Satellites

EROS C2 RUNNER KNIGHT EROS C3

Integrated Solutions for Systems and AI-Driven Data Analytics

STRONG GROWTH PROSPECTS & ROBUST PROFITABILITY

\$1.55bn+ Pipeline Opportunities ⁵ \$170m contract backlog⁵

2024 Rev: \$58m 20-24 rev CAGR: 22.3%⁶ EBITDA Margin: 28.7% in 2024⁷

	EROS A	EROS B	FIMI	EROS C2		EROS C3	RUNNER	Major Shareholders8 : FIMI: 29.66%
Est: 1998	Launch	Launch	Investment	Launch	IPO 2022	Launch	Launch	(Control); IAI: 30.62%; Altshuler: 20.47%;
	2000	2006	2017	2020		2022	2023	Discount Capital: 11.47%

Source: Company information 2024 Annual Report

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Note: 1. Provides solutions and services in image collection, analytics and infrastructure (source: company information) 2. Total Addressable Market (TAM) to the end of 2033 includes areas across both defense (\$35.4bn) and commercial (\$43.2bn) sectors, in the areas of systems and infrastructure, electro-optical data processing and distribution, and AI and analytics. Covers all geographies, some of which are not accessible.. 3. 2024 Annual Report 4. Very Very High Resolution (source: Company information) 5. As of December, 31 2024; 6. Company information ; 7. As of December, 31 2024; 8. As of May 28, 2025

COMPANY PRODUCT LINES

LONGSTANDING DEFENCE-TECH

SATELLITE SERVICES

• EROS Constellation
• •GlobalEye Constellation
• ClearSky GCS

INTELLIGENCE AS A SERVICE SATELLITE SOLUTIONS &

• •GeoImpact Platform
• AI Based Analytics
• Pattern of Life Analysis

SUPPORTING INFRASTRUCTURE

• Space Segment
• •Ground Segment
• Platform & Analytics

KEY CONTRACTS SIGNED IN 2024 & 2025 TO DATE BY BUSINESS LINE

SATELLITE SERVICES

INTELLIGENCE AS A SERVICE

SATELLITE SOLUTIONS & SUPPORTING INFRASTRUCTURE

Customer F:

▪ \$30 Million agreement for the supply of 2 Runner sensing satellites. Signed

with an advanced customer in Asia, for supply with-in 3 years

ST Engineering:

▪ Strategic collaboration agreement with ST Engineering Satellite Systems & ST Engineering Geo-Insights. Joint development of Knight high-resolution satellite system

Customer B

• \$37.5 Million EROS C strategic 5 years service agreement.
• Continued long term relationship

Customer A

▪ \$54.5 Million agreement. 3 Year agreement. Analytics services will be provided, through a cloud-based platform designed for processing and analyzing intelligence products from space using AI-based analytics

Customer A

▪ In Q2 2025 - Signing of a contract for the provision of services from EROS C2 & EROS C3 as well as related maintenance/ground services for 2 years, for \$42 Million

SUCCEFUL EXECUTION ON IPO'S 3 PRODUCT LINE STRATEGY

Sales Breakdown By Geography YE 24

Asia America Africa Europe Israel

Sales Breakdown By Sector YE24

Satellite Solutions & Supporting Infrastructure

INNOVATIVE SATELLITE SOLUTIONS - THE FUTURE OF ISI SATELLITE CONSTELLATION

• ISI Innovative cutting-edge highperformance AI based Future Satellite Systems:
  • Knight A very high-resolution electro-optical New Space satellite (VHR). The first satellite is currently in joint development and production under Strategic collaboration agreement with ST Engineering Satellite Systems & ST Engineering Geo-Insights.
  • EROS Nova An electro-optical New Space satellite with very very high resolution (VVHR). The first satellite is currently in the R&D phase.

GEOIMPACT

• Cloud-based analytics platform
• ISI continues to expand its presence in the Intelligence as a Service Sector.
• With the \$54.5 Million agreement signed in Aug 24 with customer A, ISI has effectively become a world leader in this segment.

CHILE SNSAT PROGRAM CONTINUES AT FULL STEAM

SS1: National GIS Cloud infrastructure SS2: 7*12U Micro Satellites + AIT LAB deployed

SS3: RUNNER/FASAT ECHO 1 &2 Satellites

SS4: SATCOM Solution fully executed and delivered

• \$17.4 million Revenues in 2024
• ISI and Chilean Airforce signed effective in Q125 (effective Q424) an amendment to the contract to streamline program execution.

ISI'S COMPETITIVE LANDSCAPE(1) & RECENT MARKET TRENDS

ISI competes with a range of companies across its product lines, with only a few having the capabilities to compete across three

Recent Market Trends - (Quilty Space Research)(2)

• "Revenue Delayed Revenue Recognition shifted right for most EO players in 2024, as large contracts were tied to next –gen capacity.
• Segment Pivot EO companies are increasingly pivoting toward space system deals as a strategic response to saturation in commoditized imagery markets. Vertical integration drives multi-year revenue visibility and strengthens competitive moats, particularly with sovereign and enterprise customers.
• The common thread: governments are scaling their reliance on EO, not just for images, but for end-to-end capability."

1) source: Company information and commercial due diligence report

Argentina, January 2025 | EROS C3

Night-time imaging over Tunisia | RUNNER1

I-10, Phoenix, Arizona Highway | RUNNER

Thank you