SpinLaunch has selected Kongsberg NanoAvionics (KONGSBERG) as its exclusive
satellite supplier for its low earth orbit (LEO) broadband communication
constellation, Meridian Space. The parties have signed a contract for the
delivery of 280 microsatellites worth EUR122.5 million.

The Meridian Space constellation is taking a fundamentally new approach to
space-based broadband, by combining a series of advanced technologies never
before deployed in a commercial satellite constellation. The partnership
includes two prototypes as well as the development and serial production of 280
satellites.

NanoAvionics and SpinLaunch will develop a prototype satellite optimized for
higher performance and launch efficiency. The approximately 70 kg satellites for
this project are much lighter than currently operational satcom platforms,
enabling significant performance advantages per kilogram. 

The unique design combined with the high-performance avionics and payload will
allow these satellites to deliver uninterrupted global connectivity with
terabits-per-second capacity in a single rocket launch. 
As part of the transaction, Kongsberg Defence & Aerospace has acquired a
minority stake in SpinLaunch to support the commercialisation of Meridian's
pioneering satcom solution. This partnership underscores both organizations'
commitment to delivering affordable and sustainable space services worldwide.

"The Meridian Space solution, supported by KONGSBERG, will offer significantly
higher broadband capacity in a satellite constellation compared with what is
available on the market today," said Eirik Lie, President of Kongsberg Defence &
Aerospace. KONGSBERG's decision to partner with SpinLaunch reflects our belief
in their innovative approach to satellite communications.

The satellite network is designed to address growing demand for flexible,
high-speed and secure satellite communication services for enterprise users
across sectors such as maritime, industrial operations, and remote
infrastructure. Accessible through terminal-agnostic devices, Meridian's network
will expand the reach of satellite-based broadband to diverse markets.

"Our supply contract for Meridian is a clear example of how Kongsberg
NanoAvionics enables complex satellite missions with standardized, scalable
technology," said Atle Wollo, CEO of Kongsberg NanoAvionics. 
Over time, SpinLaunch plans to grow the Meridian constellation to 1,200
satellites, as originally outlined in the company's 2021 spectrum filings. 

"Kongsberg NanoAvionics brings a strong track record in small satellite
manufacturing that aligns well with our goal of bringing a highly differentiated
satcom constellation to market," said David Wrenn, CEO of SpinLaunch. "Together,
we are taking meaningful steps towards providing a low-cost, reliable,
high-speed broadband service to global enterprises." 

To meet the needs of the 280-satellite constellation production schedule,
Kongsberg NanoAvionics will ramp up its manufacturing capabilities with the
addition of a new assembly and testing facility at its European headquarters in
Vilnius, Lithuania. 

KONGSBERG (OSE ticker: KOG) is an international, knowledge-based group that
supplies high-technology systems and solutions to customers in a wide range of
markets such as defence, security, maritime, energy, aerospace, climate mapping
and subsea technology. KONGSBERG has more than 14,600 employees in more than 40
countries and has a total revenue of NOK 48.9 billion in 2024.
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