Uzma and Satellogic Sign Multi-Million Dollar +3-Year Agreement to Advance Geospatial Capabilities in Southeast Asia

Collaboration Expands Access to Earth Observation Data and Satellite Technology in Alignment with Malaysia Space Exploration 2030 Initiative

Kuala Lumpur, Malaysia and New York, NY, USA, December 7, 2023 – Uzma, a leading energy and technology company (BURSA:7250.KL), and Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, announced today a groundbreaking collaboration aimed to evolve the landscape of satellite imagery capabilities and geospatial services in Southeast Asia. The agreement includes leveraging a state-of-the-art EO satellite designed and manufactured by Satellogic that is planned to be launched in the second half of 2024 as “UzmaSAT-1” aboard a SpaceX Falcon 9 rocket, and extensive tasking access to the Satellogic constellation.

Through its wholly-owned subsidiary, Geospatial AI Sdn Bhd (“Geospatial AI”), Uzma will leverage access to high-temporal and high-resolution satellite imagery from Satellogic’s commercial fleet of sub-meter resolution EO satellites, which is the largest in the world. Through this collaboration with Satellogic, Geospatial AI, a two-time recipient of the Smart Technology Innovation of the Year* award, positions itself to accelerate the development of valuable geospatial applications, providing actionable insights for a rapidly growing market.

A pivotal aspect of this collaboration is the tasking capacity made available to Uzma, empowering Uzma to capture precise satellite imagery on-demand, including frequent revisits, maximum responsiveness, and extensive collection capacity especially suited to scale its business. This will enable Uzma to swiftly respond to market trends and opportunities, allowing its customers to access up-to-date and accurate geospatial data for informed decision-making. 

Dato’ Kamarul Redzuan, Uzma Group CEO, expressed enthusiasm about the collaboration: “We are thrilled to partner with Satellogic to pioneer a solution set to address our industry’s long-standing need for high-temporal and high-resolution satellite data. With the launch of UzmaSAT-1 and access to Satellogic’s constellation, it has the potential to set a new standard for geospatial intelligence and offer unparalleled capabilities to meet the evolving demands of Uzma’s clients.”

Matt Tirman, Satellogic President, added: “We are immensely excited about this multi-year, multi-million dollar venture, which is more than a mere collaboration; it’s a pioneering step geared towards revolutionizing data availability and insight extraction in Southeast Asia. By integrating Satellogic’s cutting-edge satellite constellation with Uzma’s robust data analytics and expertise, we are setting a new benchmark in geospatial intelligence. We believe this is the beginning of a new era in satellite imagery and geospatial services in Malaysia and Southeast Asia. We are proud to be at the forefront of this geospatial revolution with Uzma and eager to work together to bring unparalleled space-based capabilities to the region.”

Beyond technological advancements, the collaboration between Uzma and Satellogic holds deep potential to address critical global and domestic challenges, including ESG-related matters from food security to border security, disaster response, and more. This concerted effort aligns seamlessly with Malaysia’s Space Exploration 2030 goals, reinforcing the nation’s commitment to advancing space capabilities for a sustainable and technologically advanced future.

*Note: The Smart Technology Innovation of the Year award was awarded to Uzma at The Solar Week Malaysia Awards in 2023 and 2021

About Uzma

From its humble beginnings as a manpower consultancy supply company in 2000, Uzma has evolved into a prominent player in the energy and technology industry. Our operational footprint extends across Malaysia, Thailand, Indonesia, and the Philippines, firmly establishing Uzma’s presence in the region. Our hallmark has been the delivery of exceptional customer service and the provision of high-quality solutions.

Driven by an unwavering passion for technological innovation, we have embarked on a trajectory of rapid growth, venturing into new markets and pioneering innovative service offerings that transcend Malaysia’s borders. Our transformative Five-Year Plan, known as uzma5YP, has strategically realigned our business, placing a strong emphasis on integrated solutions, asset and technology-based approaches, and diversification into emerging growth sectors such as New Energy, Digitalisation, and Downstream business.

At Uzma, a commitment to continuous innovation is at the core of our ethos. Our DNA, embodied in the uzmaWAY, encapsulates our unwavering pursuit of excellence. This guiding principle empowers us to tackle the ever-evolving challenges of the industry and deliver exceptional value to our clients. With steadfast dedication and a focused approach, we take pride in our contribution to a more sustainable industry ecosystem, consistently innovating solutions that benefit all our stakeholders.

Uzma Berhad has been proudly listed on Bursa Malaysia’s Main Board since July 2008. For more information on Uzma and our transformative solutions, visit us at www.uzmagroup.com

About Satellogic

Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers.

Satellogic’s mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world’s most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry.

With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point.

To learn more, please visit http://www.satellogic.com

Contacts

Media relations:

Uzma
communications@uzmagroup.com

Satellogic
pr@satellogic.com

Investor Relations:

Satellogic / MZ Group
Chris Tyson/Larry Holub
(949) 491-8235
SATL@mzgroup.us

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategies, Satellogic’s future opportunities, and the commercial and governmental applications for Satellogic’s technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) Satellogic’s ability to scale its constellation of satellites and to do so on Satellogic’s projected timeframe and in accordance with projected costs, (ii) Satellogic’s ability to continue to meet image quality expectations, to continue to enhance the capability of its network of satellites and to continue to offer superior unit economics, (iii) Satellogic’s ability to become or remain an industry leader, (iv) the number of commercial applications for Satellogic’s products and services, (v) Satellogic’s ability to address all commercial applications for satellite imagery, changes in the competitive and highly regulated industries in which Satellogic operates, variations in operating performance across competitors and changes in laws and regulations affecting Satellogic’s business, (vi) the ability to implement business plans, forecasts and other expectations, and to identify and realize additional opportunities, including the ability of Satellogic to realize the potential benefits of opportunities in Southeast Asia, (vii) the risk of downturns in the commercial launch services, satellite and spacecraft industry, (viii) the risk that the market for Satellogic’s products and services does not develop as anticipated, (ix) the risk that Satellogic and its current and future collaborators, including Uzma, are unable to successfully develop and commercialize Satellogic’s products or services, or experience significant delays in doing so, (x) the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations, (xi) the risk of product liability or regulatory lawsuits or proceedings relating to Satellogic’s products and services, and (xii) the risk that Satellogic is unable to secure or protect its intellectual property. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 20-F and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.