Exhibit 2 Link Budgets

0075-EX-CN-2018 Text Documents

BlackSky Global, LLC

2018-01-29ELS_203981

BlackSky Global LLC                                                                              Exhibit 2

                                            Link budgets

The table below shows the link budgets for transmissions from the ground station to the
Global-1 satellite. There are two uplink channels: a low-rate uplink at 450.2 MHz (UHF),
and a higher-date rate uplink at 2071.875 MHz (S-band). The UHF ground antenna is a
yagi antenna, and the S-band ground antenna is a parabolic antenna.

For the S-band uplink, different size antennas are used at each site. At the North Pole,
AK, ground station, a 7.3 m parabolic antenna is used. A 9.1 m parabolic antenna is
also available as a backup at the same location, and will only be used in the event that
the 7.3 m goes offline. At the Invercargill, New Zealand site, a 3.7 m antenna is used.
Thus at each site, there is a different combination of RF output power and antenna gain
that achieve the desired EIRP. These parameters are given in the tables below.

This link budget assumes 550 km mean orbit altitude and a 5 degree elevation above
the horizon. Note that the system was designed to operate in orbits up to 600 km
altitude, hence the high margins.

                                            Table 1. Link Budget

         Parameter for Uplink                      UHF Uplink         S-band uplink     Unit
         Circular Altitude                                  550                  550    km
         Elevation from Ground Station                        5                     5   deg
         Resulting slant range                          2,205.9             2,205.90    km
         Center Frequency                                 450.2            2071.875     MHz
         GS Transmit power                                 13.0           See table 2   dBW
         GS Antenna gain                                   12.7           See table 2   dBi
         Expected Line Loss                                 2.9           See table 2   dB
         GS EIRP                                           22.8                  43.0   dBW
         Isotropic Signal level at Spacecraft            -132.3                -125.6   dBW
         Spacecraft Antenna Gain                             -5                     6   dBi
         Spacecraft Expected Losses                         0.9                   2.3   dB
         Spacecraft G/T                                   -31.7                 -22.4   dB/K
         Effective data rate (post-FEC)                    19.2                 153.6   kbps
         Resulting Eb/No                                   21.8                  28.7   dB
         Specified bit error rate                      1.0E-05               1.0E-05    -
         Required Eb/No                                    10.6                  10.6   dB
         Resulting Link Margin                             11.2                  18.1   dB

                                    Table 2. EIRP components per location

                                                             Alaska           Alaska
                                                             S-band           S-band
                                          New Zealand        uplink, 7.3 m    uplink, 9.1 m
                                          S-band             antenna          antenna
  Parameter for each ground station       uplink             (primary)        (backup)         Unit
  GS Transmit power                            11.0               -0.4             -2.0        dBW
  GS Antenna gain                              34.4               41.0             42.6        dBi
  Expected Line Loss                             2.4               2.4              2.4        dB
  GS EIRP                                      43.0               43.0             43.0        dBW



Document Created: 2018-01-24 10:17:57
Document Modified: 2018-01-24 10:17:57

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