Creotech Instruments (“Creotech” or the “Company”), Poland’s largest space mission integrator listed on the Warsaw Stock Exchange, has announced its development strategy through 2029, outlining the key directions that will enable the Company to establish a position as one of the four leading space mission integrators (Prime Contractors) in Europe. Creotech will expand its offering from microsatellites to minisatellites and will increase its production capacity at least fourfold. The Company’s Management Board has also resolved to accelerate the development strategy and broaden the shareholder base through a public offering of up to 650,000 Series M ordinary bearer shares, without shareholders’ pre-emptive rights. The offering will be directed to selected investors outside the United States (in accordance with Regulation S). The Management Board’s intends for the offering to be conducted on the terms set out in the draft issuance resolution presented in the notice convening the Ordinary General Meeting dated May 7, 2026. The funds raised are intended to support the execution of the development strategy, in particular in the areas of expanding production capacity, developing new satellite platforms, making technological investments, and pursuing potential acquisitions and strategic partnerships. The Company is being supported in the envisaged transaction by cc group as IR and financial advisor, while UniCredit Bank GmbH, Milan Branch, in cooperation with Kepler Cheuvreux, and Trigon Dom Maklerski S.A. together with Trigon Investment Banking Sp. z o.o. & Wspólnicy sp.k. are acting as Joint Global Coordinators. BM PKO Bank Polski S.A. is acting as Joint Bookrunner.

Creotech’ strategy envisages leveraging its proprietary HyperSat platform, currently used in the microsatellite segment (weighing up to 100 kg), to expand its product portfolio to include platforms in the minisatellite and small-satellite segments (weighing up to 500 kg). As a result, this decision is intended to bring the Company closer to supplying satellites for Europe’s constellation-based space infrastructure.

The decision to develop new products is coupled with a decision to increase production capacity from the current 10 satellites per year to at least 40 satellites per year. This step-change in the scale of operations based on an end-to-end space mission integrator model, is intended to enable the Company to secure the position of Europe’s fourth Prime Contractor in the space sector and to serve the anticipated constellation programmes of the European Union.

Key development priorities include:

Entry into the minisatellite and small-satellite segment (100–500 kg)
More than a fourfold increase in production capacity – enabling an increase in output from approximately 10 to over 40 satellites per year
Participation in European constellation programmes, including strategic projects such as the European Commission’s EOGS programme, IRIS², and ESA science missions
Selective M&A and strategic partnerships
Building a position among the four leading space systems integrators in Europe

The product development roadmap envisages the introduction of new satellite platforms with greater mass and with higher level of technological sophistication, including the SWAN platform (>200 kg) and EMU (up to 500 kg), enabling participation in more complex and higher-margin projects, particularly next-generation satellite constellations.

Scalable business model and operating leverage

Creotech’s business model is built on operating leverage. A stable fixed cost base combined with a significant increase in the scale of operations, creates the conditions for dynamic growth in revenue and profitability. At the same time, the Company intends to expand its presence in international markets and actively participate in the largest European infrastructure projects carried out with the support of the European Space Agency.

Solid operational and financial foundations

Creotech Instruments is beginning to implement its strategy from a strong operational and financial position. In 2025, in its space segment, the Company generated approximately PLN 146 million in revenue, with a high segment margin of 38%. Its order backlog stands at approximately PLN 587 million and primarily comprises contracts as a prime contractor, ensuring strong visibility of future revenues. The Company aims to double its order backlog within the next 2–3 years.

The total value of the sales pipeline amounts to nearly PLN 8.3 billion, comprising several projects and encompassing both short-term initiatives (including ESA and defence sector projects) as well as multi-year constellation programmes and European Commission programmes.

The Company employs approximately 300 employees and has the capability to execute space missions on an end-to-end basis. A key technological advantage remains its high level of vertical integration, with approximately 70-80% of subsystems being developed in-house.

We currently have not only the competencies and proven technology, but also solid business fundamentals – growing revenue, high segment profitability, and an order backlog that ensures visibility for the coming years. This gives us the real ability to execute increasingly large and complex space projects in Europe. We already have visibility on a sales pipeline worth PLN 6.6 billion until 2029 – importantly, even if only a portion of this potential is ultimately converted into contracts, its scale clearly indicates the possibility of significantly expanding our operations and joining the group of leaders in the European satellite market – said Grzegorz Brona, President of the Management Board and Chief Executive Officer (CEO).

Fundraising – planned issuance of Series M shares

In order to accelerate the execution of its strategy, the Company has undertaken steps to raise additional equity capital. On 7 May 2026, the Management Board of Creotech Instruments resolved to convene a Ordinary General Meeting, during which a resolution on increasing the Company’s share capital through the issuance of up to 650,000 Series M ordinary bearer shares will be put to a vote. The shares will be offered through a public offering addressed to selected investors outside the US pursuant to Regulation S, in accordance with the terms set out in the resolution.

The funds raised are intended primarily to be used for the development of production infrastructure, increasing manufacturing capacity, advancing technology and new satellite platforms, financing research and development activities, as well as potential acquisitions and strategic partnerships.

– Historically, we have expanded our shareholder base at key moments in our development, and the capital raised was used to seize emerging market opportunities. We are currently seeing a similar opportunity. The execution of our announced strategy, which is underpinned by more than a fourfold increase in production capacity, requires accelerated investments – both in infrastructure and in technology development. The planned share issue is intended to provide us with flexible financing that will allow us to take advantage of a favourable market environment and scale the business at a pace aligned with the growing demand for space solutions in Europe. We are also welcoming the involvement of international investors, who will play an important role in further strengthening our presence in global markets. At this stage, we need to move forward quickly in order to keep up with the expectations of a rapidly expanding market. Purely organic growth would cost us valuable time – added Grzegorz Brona, President of the Management Board and Chief Executive Officer (CEO)

The planned issuance of Series M shares will be carried out with the exclusion of pre-emptive rights of the Company’s existing shareholders. The offering will be allocated exclusively to investors selected by the Company’s Management Board following a book-building process, and will be limited to qualified investors and/or investors subscribing for shares with an aggregate value of at least EUR 100,000 per investor, outside the US pursuant to Regulation S.

Notwithstanding the exclusion of pre-emptive rights, existing shareholders meeting criteria specified in the issue resolution will be granted a preferential right to subscribe for new shares, to protect such shareholders from dilution of their stake in the Company’s share capital. This right will be granted to shareholders holding – as at the record date for participation in the Ordinary General Meeting – at least 14,272 shares in the Company (approximately 0.5% of the share capital and votes in the Company), on the terms specified in the resolution, allowing them to subscribe for shares in a number proportional to their existing shareholding in the Company’s share capital.

The announced strategy and the planned Series M share issue form a coherent plan for Creotech’ transition into the next stage of development – building a large, scalable technology organization operating in the European space infrastructure market. The Company views the
2026-2029 period as a key phase of accelerated growth in the European space market and of leveraging historically high investment levels within the European Space Agency and the European Union. This is expected to enable dynamic growth and a lasting strengthening of its market position.

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