Rocket Lab Delivers Second Spacecraft, Completes Third for Varda Space Industries

LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab USA, Inc. (Nasdaq: RKLB) ("Rocket Lab" or "the Company"), a global leader in launch services and space systems, has successfully delivered its second Pioneer spacecraft to Vandenberg Space Force Base and completed production and testing of a third for Varda Space Industries, Inc. ("Varda"), the world's first orbital pharmaceutical processing and hypersonic Earth re-entry logistics company.

The two spacecraft are part of a four-vehicle contract between Rocket Lab and Varda, aimed at revolutionizing commercial manufacturing in space. Designed, built, and tested at Rocket Lab's state-of-the-art Spacecraft Production Complex in Long Beach, California, the Pioneer platform serves as the enabler of Varda's innovative missions.

Rocket Lab's Pioneer platform hosts Varda's reentry capsule, which leverages microgravity conditions to conduct operations in space that are difficult or impossible on Earth. Rocket Lab's Pioneer spacecraft provides essential systems for power, communications, propulsion, and attitude control for Varda's 120kg reentry capsule. To enable Varda's operations and safely return the capsule to Earth, the Pioneer spacecraft maneuvers the capsule into the precise position and sets it on a course for reentry. Rocket Lab also provides critical mission operations support for launch, commissioning, operation and reentry of the spacecraft. The first Pioneer spacecraft Rocket Lab developed for Varda was launched in 2023 and spent eight months on orbit, successfully enabling the growth of crystals of the HIV/AIDS-treating drug ritonavir inside Varda's capsule. The capsule was successfully deorbited and landed in the Utah desert in February 2024.

For Varda's second mission, scheduled for launch in Q1 of 2025, Rocket Lab and Varda will once again conduct in-space operations, reentry positioning maneuvers, but this time deorbit the spacecraft over Australia and land Varda's capsule at the Koonibba Test Range in South Australia.

Rocket Lab's ability to complete production and testing of a third spacecraft for Varda less than two months after completion of the second is testament to the Company's vertical integration strategy and recent scaling of satellite production capability. By vertically integrating design, component manufacturing, satellite integration and testing, Rocket Lab has optimized schedule and cost efficiency in satellite production.

"We're setting a new standard for rapid, reliable satellite production," said Rocket Lab founder and CEO Sir Peter Beck. "Each Pioneer spacecraft for Varda's missions is a perfect demonstration of our growing capability as an end-to-end space company that delivers design, manufacturing, integration, testing, launch support and in-space operations to get our customers' innovative ideas on orbit quickly and cost effectively."

"This mission is another step toward high cadence reentry" said Varda CEO and co-founder Will Bruey. "Soon, reentry will be as common as launch."

Learn more about Rocket Lab's spacecraft for Varda: Varda Space Industries | Rocket Lab (rocketlabusa.com)

+ About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, a family of spacecraft platforms, and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab's Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered more than 200 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab's spacecraft platforms have been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.

+ Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. The words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "strategy," "future," "could," "would," "project," "plan," "target," and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC's website at www.sec.gov and the Investor Relations section of our website at www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

About Varda:

Varda Space Industries is expanding the economic bounds of humankind by designing and building the infrastructure needed to make low Earth orbit accessible to industry, from in-orbit production equipment to reliable and economical reentry capsules. The company operates out of El Segundo, California with office and industrial production space. You can follow Varda on X (@vardaspace) and LinkedIn.

Source: Rocket Lab USA, Inc.

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