DISCLAIMER AND FORWARD LOOKING STATEMENTS

This presentation (this 'Presentation') was prepared for informational purposes only to assist interested parties in making their own evaluation of the proposed transaction (the 'Transaction') between Vector Acquisition Corporation Inc. ('Vector', 'we', or 'our') and Rocket Lab USA, Inc. ('Rocket Lab'). This Presentation is for discussion purposes only and does not constitute an offer to purchase nor a solicitation of an offer to sell shares of Vector, Rocket Lab or any successor entity of the Transaction, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This Presentation is not intended to form the basis of any investment decision by the recipient and does not constitute investment, tax or legal advice. No representation, express or implied, is or will be given by Vector, Rocket Lab or their respective affiliates and advisors as to the accuracy or completeness of the information contained herein, or any other written or oral information made available in the course of an evaluation of the Transaction.

This Presentation provided by Vector and Rocket Lab may contain certain 'forwardlooking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Vector's, Rocket Lab's on their management teams' expectations, hopes, beliefs, intentions or strategies regarding the future. 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 Vector's and Rocket Lab's current expectations and beliefs concerning future developments and their potential effects on Vector, Rocket Lab or any successor entity of the Transaction. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: (i) the risk that the Transaction may not be completed in a timely manner or at all, which may adversely affect the price of Vector's securities, (ii) the failure to satisfy the conditions to the consummation of the Transaction, including the adoption of the Agreement and Plan of Merger by the shareholders of Vector, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Agreement and Plan of Merger, (iv) the effect of the announcement or pendency of the Transaction on Rocket Lab's business relationships, operating results and business generally, (v) risks that the Transaction disrupts current plans and operations of Rocket Lab, (vi) changes in the competitive and highly regulated industries in which Rocket Lab plans to operate, variations in operating performance across competitors, changes in laws and regulations affecting Rocket Lab's business and changes in the combined capital structure, (vii) the ability to implement business plans, forecasts and other expectations after the completion of the Transaction, and identify and realize additional opportunities, and (viii) the risk of downturns in the commercial launch services, satellite and spacecraft industry. There can be no assurance that the future developments affecting Vector, Rocket Lab or any successor entity of the Transaction will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Vector's or Rocket Lab's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Except as required by law, Vector and Rocket Lab

are not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong to their respective owners and Vector's or Rocket Lab's use thereof does not imply an affiliation with, or endorsement by the owners of such trademarks, copyrights, logos and other intellectual property. Solely for convenience, trademarks and trade names referred to in this Presentation may appear with the ® or ™ symbols, but such references are not intended to indicate, in any way, that such names and logos are trademarks or registered trademarks of Vector.

Use of Projections. The financial and operating forecasts and projections contained herein represent certain estimates of Rocket Lab as of the date thereof. Neither Vector's nor Rocket Lab's independent public accountants have examined, reviewed or compiled the forecasts or projections and, accordingly, neither expresses an opinion or other form of assurance with respect thereto. Furthermore none of Vector, Rocket Lab nor their respective management teams can give any assurance that the forecasts or projections contained herein accurately represents Rocket Lab's future operations or financial conditions. Such information is subject to a wide variety of significant business, economic and competitive risks and uncertainties, including but not limited to those set forth in the second paragraph above that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of Vector or Rocket Lab or that actual results will not differ materially from those presented in the prospective financial information. Some of the assumptions upon which the projections are based inevitably will not materialize

and unanticipated events may occur that could affect results. Therefore, actual results achieved during the periods covered by the projections may vary and may vary materially from the projected results. Inclusion of the prospective financial information in this presentation should not be regarded as a representation by any person that the results contained in the prospective financial information are indicative of future results or will be achieved.

This Presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information. This information involves many assumptions and limitations and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data that has been contained in these industry publications and other publicly available information. Accordingly, none of Vector, Rocket Lab nor their respective affiliates and advisors makes any representations as to the accuracy or completeness of these data. This Presentation contains references to Rocket Lab's achievements compared to other companies, including being the first to achieve certain milestones. All of such references are based on the belief of Rocket Lab's management based on ubliclyavailable information known to Rocket Lab's management.

Non-GAAP Financial Measures. The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated under the Securities Act of 1933, as amended. This Presentation also includes non-GAAP financial measures. Vector and Rocket Lab believe that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Rocket Lab's financial condition and results of operations. Rocket Lab's management uses certain of these

non-GAAP measures to compare Rocket Lab's performance to that of prior periods for trend analyses and for budgeting and planning purposes. Not all of the information necessary for a quantitative reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures is available without unreasonable efforts at this time. Specifically, Rocket Lab does not provide such quantitative reconciliation due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including net income (loss), accelerated depreciation and variations in effective tax rate.

This Presentation relates to a proposed transaction between Rocket Lab and Vector. This Presentation does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Vector and Rocket Lab intend to file a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the 'SEC'), which will include a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/ prospectus. A proxy statement/prospectus will be sent to all Rocket Lab and Vector shareholders. Rocket Lab and Vector will also file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Rocket Lab and Vector are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration

statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Rocket Lab and Vector through the website maintained by the SEC at www.sec.gov.

The documents filed by Vector with the SEC also may be obtained free of charge upon written request to Vector Acquisition Corporation, One Market Street, Steuart Tower, 23rd Floor, San Francisco, CA 94105. The documents filed by Rocket Lab with the SEC also may be obtained free of charge upon written request to Rocket Lab USA, Inc., 3881 McGowen Street, Long Beach, CA 90808.

Participants in the Solicitation. Rocket Lab, Vector and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Vector's shareholders in connection with the proposed transaction. A list of the names of such directors, executive officers, other members of management, and employees, and information regarding their interests in the business combination will be contained in Vector's filings with the SEC, including Vector's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020, which was filed with the SEC on November 16, 2020, and such information and names of Rocket Lab's directors and executive officers will also be in the Registration Statement on Form S-4 to be filed with the SEC by Rocket Lab and Vector, which will include the proxy statement of Vector Additional information regarding the interests of such potential participants in the solicitation process will also be included in the registration statement (and will be included in the definitive proxy statement/ prospectus) and other relevant documents when they are filed with the SEC.

Space has defined some of humanity's greatest achievements, and it continues to shape our future.

I'm motivated by the enormous impact we can have on Earth by making it easier to get to space and to use it as a platform for innovation, exploration, and infrastructure. We go to space to improve life on Earth.'

Peter J. Beck Founder, CEO, Chief Engineer,

Adjunct Professor

Today's Presenters

ROCKET LAB



VECTOR ACQUISITION CORPORATION


Vector Capital Overview

OUR PEDIGREE

Tech-only Investment Fund

25-Year Track Record

HIGHLIGHTS $3B+ Capital Under Management

40+ Investing and Operating Professionals

100+ Tech Companies Acquired Since 1997

39% Gross IRR Since Inception

Our Value Add for Rocket Lab

Executing Accretive Acquisitions

VECTOR ACQUISITION CORP

$320M SPAC

Sales, Operations, Strategy


CONTENTS



SECTION

SECTION

01

02

03

04

Launch




SECTION



01

ROCKET LAB OVERVIEW & Introduction


Rocket lab at a glance

A vertically integrated provider of small launch services, satellites and spacecraft components

Delivering end-to-end space solutions

• Launch: Proven rocket delivering dedicated access to orbit for 3+ years
• Space Systems: Manufacturing satellites and best-in-class heritage spacecraft components
• Space Applications: Uniquely positioned to leverage launch and satellite capabilities and infrastructure to build and operate our own constellations

Rocket Lab is way out in front

Uniquely compelling investment opportunity in a generational space leader

Large, Rapidly Growing Market

Pioneer with Commanding Leadership Position

Proven Business Execution

Expanding Scope & Seizing Growth Opportunities

Attractive Financial Model

Successful Executive Team Driving Innovation

› Unprecedented commercial investment and government expenditures are driving rapid growth in the space economy › Market forecast to grow to $1.4T by 2030 1

› One of only two commercial companies delivering regular access to orbit › Strong first-mover advantage in small launch category

• › 18 launches since 2017 with cadence increasing

› Rocket Lab-built satellites and components on orbit › Extensive launch and development facilities across U.S. and NZ

› Aggressive organic and inorganic expansion of Space Systems business › Missions scheduled to the Moon and Mars for NASA › Uniquely positioned to access expanding space applications TAM

› Current bookings for 2021 represent 90% of $69M forecast revenue (96% Y/Y growth) › Forecast EBITDA positive in 2023 and cash flow positive in 2024 › Forecast crossing $1B revenue in 2026

• › Peter Beck is a visionary in the space industry, leading Rocket Lab to a series of industry-defining firsts › Adam Spice has public company CFO credentials and deep M&A experience › Motivated and passionate team of 530 employees

$350B+ TAM forecast to grow to $1.4T by 2030 1

Uniquely positioned to exploit a growing market

1

2

3

Launch

Electron & Neutron TAM ~$10B 2

• › TAM growth driven by historic levels of demand for responsive small satellite launch and constellation deployments
• › Small satellite constellations will account for ~83% of all satellites launched by 2028 3

SPACE SYSTEMS

Photon

TAM ~$20B 2

• › Significant growth in small satellite mega constellations driven by demand for commercial Earth observation and telecom applications
• › DoD focused on resiliency of space infrastructure and satellite constellation deployment and replenishment
• › Increased focus from multiple governments on high value deep space planetary exploration and discovery missions

SPACE APPLICATIONS

TAM ~$320B 1

• › Market growth driven by demand for spacebased connectivity, Earth observation (including synthetic aperture radar, electro-optical and RF) and other services
• › Significant untapped potential for value-added services including data management & analytics to support end customer insights


EL E C T R ON L I F T OF F L A U N C H C O M P L E X 1

WORLD LEADING TECHNOLOGY

Large technology moat



3D printed rocket engine

1 st

1 st

1 st



FIRST

Rocket that converts to a satellite on orbit

Private interplanetary mission

FIRST



Electric-pump -fed rocket engine



Unique

Kick Stage enabling in-space transportation



Fully carbon composite launch vehicle



Only

Reusable small launch vehicle



And only private orbital launch site

1 st


vertically integrated space company

From raw material to orbit



2


PROVEN TEAM

led by industry veterans

EXECUTIVE LEADERSHIP


Our execution history

We do what we say we will do

Launch 6 YEARS

2014

1st venture capital raised NZ launch site built

2018

1st flight to orbit

Factory built to support 1 rocket per week production

Space Systems 1 YEAR

2019

Photon program announced

Acquired Sinclair Interplanetary

Awarded NASA CAPSTONE mission to the Moon

Awarded NASA propellant depot mission in LEO

Developed multiple Rocket Lab satellite components

Space Applications 0.5 YEARS

2020

First Rocket Lab satellite on orbit

Section 1

Positioned to provide space data to the market

First NRO launch

Successful reuse mission

4th most frequent launcher in the world in '19 & '20

KSAT partnership

First Photon launched

U.S. launch site built

2020

Monthly launch cadence into 2021

2020

Scheduled missions to the Moon (2021), Venus (2023) and Mars (2024)




SECTION



02

LAUNCH

dedicated small launch is critical

Not all space access is the same

Rocket Lab delivers the first dedicated ride to orbit for small satellites, providing customers control over launch schedule and enabling tailored orbits that cannot be matched by large rocket rideshare



Small satellites face costly delays when flying rideshare on large rockets due to low launch frequency



More than 50% of small satellites launched in the past 5 years were delayed from 4 months to 2 years

Large rockets do not provide adequate control for many small satellite orbital destinations


Meet electron

SIGNIFICANT technology moats

97

1 st

132

180

Satellites deployed to orbit to date



Powered by the world's first 3D printed and electricpump-fed rocket engine technology, backed by a growing IP portfolio and patent filings

Carbon composite orbital launch vehicle in the world

Unique Kick Stage standard with every launch to provide industry-leading precision and flexibility

Launch opportunities every year across 3 launch pads

Designed for manufacturability and reliability

3D printed engines delivered to space

Tailored for satellites up to 300 kg (660 pounds) payload class



D

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H P

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X 1

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N L

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N O

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2nd most frequently launched rocket in the U.S.

• 1 SPACEX
• 2 ROCKET LAB

4th most frequent launcher globally

• 1 CHINA
• 2 RUSSIA
• 3 SPACEX

4 ROCKET LAB

5

EUROPE

• 6 JAPAN

only two private companies are delivering regular and reliable access to orbit



Rocket Lab is the Small Launch LEADER



1 PitchBook, Press, Investor Materials


Our customers

18 missions, 97 satellites deployed for more than 20 organizations


STATE OF THE ART MANUFACTURING

Production facilities capable of producing a rocket every week



R&D and manufacturing facilities across the U.S., NZ and Canada

All production scaling investments and infrastructure complete

~90% vertically integrated. Engines, vehicle structures, avionics, guidance sets and flight termination hardware produced in-house



Extensive automation incl. 3D printing and custom robotic processing. Largest robotic machining center in the Southern Hemisphere


Unrivaled launch infrastructure

3 launch pads across 2 countries

Launch Complex 1 New Zealand Launch Complex 2 Virginia, U.S.



132 launch slots annually (more than all U.S. ranges combined)

Critical national infrastructure asset for U.S. government customers



World's only private, FAAlicensed orbital launch site

The only bilateral treaty that allows U.S. launch vehicles to launch outside of the U.S.



24-hr rapid call-up launch for defense needs and constellation replenishment

Dedicated integration and control facilities


REUSABILITY

THE KEY TO LAUNCH FREQUENCY

Electron is the only reusable orbital-class small rocket



One of only two companies to successfully bring back an orbitalclass booster from space

Enables higher launch frequency without expanding production

Components from first recovered booster already scheduled for re-flight


Small Launch was the beginning

The market needs a constellation LAUNCHER

83%



There is currently no commercial medium lift class launch vehicle to meet this demand

of the small satellites launched by 2028 will be constellation missions 1



Constellation satellites need to be launched in batches to different orbital planes. Large rockets don't solve this

An analysis of large constellations points to an 8-ton class rocket as the ideal lift capacity



Example: Telesat Lightspeed broadband constellation 2



220

Satellites

need launch

(700kg each)

20

11

7.7

Different orbital planes required

SATELLITES per plane

TONS per launch


Next Step: NEUTRON

NEW ROCKET DEVELOPMENT 8-Ton PAYLOAD CAPACITY

• › Rocket Lab solved small launch with Electron
• › Neutron solves medium launch


Tailored for commercial and DoD constellation launches

Highly disruptive lower costs by leveraging Electron's heritage, launch sites and architecture

Direct alternative to SpaceX Falcon 9



Capable of human space flight and crew resupply to the ISS

~$200M development program. First launch 2024



Reusable-ready platform after test program completion




SECTION



03

SPACE SYsTEMS

Space Systems MANDATE

1



2



3

Satellites as a Service

From LEO constellations to high-complexity deep space and interplanetary missions

Satellite COMPONENTS

Anything that goes to space should have a Rocket Lab logo on it

SPACE APPLICATIONS

Uniquely positioned to access expanding space applications TAM



P H OTO N -C A P S TO N E A U G U ST 20 20

SATELLITES AS A SERVICE

PHOTON: LOW EARTH ORBIT

Customers no longer have to build their own satellite. They can buy a launch, satellite, ground services and on-orbit management in a turn-key package



Operational Photon satellite is on orbit now and functioning flawlessly

Every time Rocket Lab launches a customer mission, Photon is a free 'stowaway' satellite



Awarded NASA propellant depot mission

Strong market uptake in satellite as a service model across USG and commercial customers

Forms the satellite platform for our own constellations



P H O T O N F I R S T L I G H T M I S S I O N A U G U ST 20 20


spacecraft AS A SERVICE

PHOTON: Interplanetary

Rocket Lab goes everywhere in the solar system. Interplanetary Photon is a high-energy stage capable of going to the Moon, planets, asteroids and beyond



Strong market traction to date with multiple NASA deep space missions



U P C O M I N G V E N U S M I S S I O N 20 23



1

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interplanetary missions

Missions awarded and spacecraft developed


Satellite Components

Mission-critical components for small and mega constellations

Everything that goes to space should have a Rocket Lab logo on it

Strengthened by the acquisition of Sinclair Interplanetary in 2020

Disruptive highvolume manufacturing of critical satellite components at scale prices




Uniquely positioned to create a new multi-billion-dollar business vertical

Rocket Lab is in a unique position to complete the final move up the value chain to provide data and services to the market by leveraging Electron, Neutron, and Photon, further unlocking the ~$1.4T TAM 1 by 2030



Rocket Lab's in-house launch and space systems capabilities provide significant competitive advantages in the space applications market



SECTION

04

Transaction Overview & Financials

Transaction overview

• › Fully diluted pro forma enterprise value of $4.1B, representing 5.4x 2025E revenue of $749M
• › Existing Rocket Lab shareholders will receive 82% of the pro forma equity
• › Transaction will result in $745M of cash to the balance sheet to fund growth
• › Funded by a combination of cash in Vector's trust account and PIPE proceeds


Pro Forma Ownership 5


FINANCIAL MODEL SUMMARY

• › Current bookings for 2021 represent 90% of forecast revenue 1
• › Existing customer relationships, frequency of repeat business and active opportunity pipeline of ~$2.2B provide confidence in long-term plan


1 Reflects approximately $16M reduction in estimated 2021 revenue recognition due to rescheduling by a US Government customer of two dedicated launches that had been scheduled for August of 2021, into January/February of 2022, due to delays from their satellite bus partner. Concurrently with the rescheduling, the customer informed Rocket Lab that it had awarded the Company an additional dedicated launch for 2022, which increased Rocket Lab's total backlog by approximately $8.5M

2 Total cumulative billings associated with launches completed in 2018, 2019 and 2020 were approximately $7M, $34M and $39M, respectively. Total cumulative billings for launches to be conducted in 2021 are expected to be $59M

FINANCIAL MODEL SUMMARY

• › Adjusted EBITDA breakeven is expected in 2023E with significant EBITDA ramp thereafter as the company scales operations
• › Significant free cash flow generation driven by adjusted EBITDA growth and minimal maintenance capital expenditure


highly compelling OPPORTUNITY



valuation and operational benchmarking



For more information watch the Rocket Lab story here

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