Virgin Galactic’s SpaceShip Two Completes Second Flight


Successful Glide Flight Puts Virgin Galactic on the Path for

Space Flight from New Mexico

LAS CRUCES, N.M. June 25, 2020 -Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or “the Company”) today announced the successful completion of the second SpaceShipTwo test flight from Spaceport America. This flight follows the completion of the first test flight from the Company’s commercial headquarters in New Mexico on May 1, 2020, and marks another important milestone as the team progresses toward the launch of Virgin Galactic’s commercial service.

On SpaceShipTwo Unity’s flight deck were Mark ‘Forger’ Stucky and Michael ‘Sooch’ Masucci. Both pilots are commercial astronauts, having each previously flown Unity into space on different flights. Piloting the Company’s carrier aircraft, VMS Eve, were Nicola Pecile and CJ Sturckow.

VSS Unity First Glide Flight
VSS Unity First Glide Flight
Richard Branson in front of the NYSE
Richard Branson in front of the NYSE
Virgin Galactic Makes Space for Second Time in Ten Weeks with Three on Board
Virgin Galactic Makes Space for Second Time in Ten Weeks with Three on Board
The Virgin Galactic Spaceflight System in front of Spaceport America
The Virgin Galactic Spaceflight System in front of Spaceport America
SpaceShipTwo Unity Released From VMS Eve for Second Glide Flight in New Mexico
SpaceShipTwo Unity Released From VMS Eve for Second Glide Flight in New Mexico
SpaceShipTwo pilots Mark ‘Forger’ Stucky and Michael ‘Sooch’ Masucci
SpaceShipTwo pilots Mark ‘Forger’ Stucky and Michael ‘Sooch’ Masucci
Virgin Galactic Holdings, Inc. (NYSE:SPCE) visits the New York Stock Exchange (NYSE) to celebrate its Listing. Sir Richard Branson, joined by Vice Chairman and Chief Commercial Officer of NYSE Group, John Tuttle, rings The First Trade Bell.
Virgin Galactic Holdings, Inc. (NYSE:SPCE) visits the New York Stock Exchange (NYSE) to celebrate its Listing. Sir Richard Branson, joined by Vice Chairman and Chief Commercial Officer of NYSE Group, John Tuttle, rings The First Trade Bell.
Virgin Galactic will begin trading on the New York Stock Exchange under the ticker ‘SPCE.
Virgin Galactic will begin trading on the New York Stock Exchange under the ticker ‘SPCE.
WhiteKnightTwo makes its first public debut at Air Venture
WhiteKnightTwo makes its first public debut at Air Venture
WhiteKnightTwo and SpaceShipTwo fly over the San Francisco Bay
WhiteKnightTwo and SpaceShipTwo fly over the San Francisco Bay
Virgin Spaceship Unity is unveiled in Mojave, California, Friday February 19th, 2016. VSS Unity is the first vehicle to be manufactured by The Spaceship Company, Virgin Galactic's wholly owned manufacturing arm, and is the second vehicle of its design ever constructed. VSS Unity was unveiled in FAITH (Final Assembly Integration Test Hangar), the Mojave-based home of manufacturing and testing for Virgin Galactic's human space flight program. VSS Unity featured a new silver and white livery and was guided into position by one of the company's support Range Rovers, provided by its exclusive automotive partner Land Rover...
Virgin Spaceship Unity is unveiled in Mojave, California, Friday February 19th, 2016. VSS Unity is the first vehicle to be manufactured by The Spaceship Company, Virgin Galactic’s wholly owned manufacturing arm, and is the second vehicle of its design ever constructed. VSS Unity was unveiled in FAITH (Final Assembly Integration Test Hangar), the Mojave-based home of manufacturing and testing for Virgin Galactic’s human space flight program. VSS Unity featured a new silver and white livery and was guided into position by one of the company’s support Range Rovers, provided by its exclusive automotive partner Land Rover…
Virgin Galactic's First Spaceflight
Virgin Galactic’s First Spaceflight

This glide flight, flown at higher speeds, allowed the team to continue to evaluate systems and vehicle performance in advance of future rocket-powered space flights from the Company’s new operating base in New Mexico. Flying VSS Unity in glide configuration at higher speeds enables certain vehicle systems to operate close to the environment seen during phases of rocket boost on a spaceflight. The spaceship achieved a glide speed of Mach 0.85 after being released from the mothership VMS Eve at an altitude of 51,000 ft. Unity completed multiple test-points before touching back down smoothly for a runway landing at Spaceport America.

Forger and Sooch performed a series of maneuvers with Unity designed to gather data about performance and handling qualities while flying at higher speeds. This data will be verified against similar maneuvers that were performed in the previous glide flight to enhance aerodynamic modelling.

The test flight was conducted under a set of stringent operational protocols to ensure safety against COVID-19. These protocols include changes to the work areas and procedures to enforce social distancing as advised by state guidelines as well as universal mask usage.

Last weekend, the Company’s Spaceship and Propulsion teams completed a full ‘wet dress’ rehearsal designed to check out the new facilities and equipment at Spaceport America. During this rehearsal, the teams positioned the spaceflight system on the runway and loaded VSS Unity with active propellant.

Pending the completion of an extensive data review of this flight, the team will start preparing for the next stage of our flight test program – powered spaceflights from Spaceport America. In addition to the data review, we have several steps to complete, including final modifications to the spaceship customer cabin and detailed inspections of the vehicle and systems.

Virgin Galactic would like to express its thanks to New Mexico Spaceport Authority (NMSA), the White Sands Missile Range (WSMR), the Federal Aviation Administration (FAA), Albuquerque Flight Standards District Office (FSDO), and the FAA Air Traffic Control Center in Albuquerque for smooth coordination and efficient integration.

Governor Michelle Lujan Grisham said: “I’m excited by the continued progress Virgin Galactic has made in New Mexico and confident in their work going forward. Our state has the opportunity to be a leader in commercial spaceflight, and partners like Virgin Galactic are leading the way.”

George Whitesides, CEO of Virgin Galactic and The Spaceship Company said: “I am thrilled with the team’s hard work to complete today’s test flight successfully. It was an important test that, pending data review, means we can now start preparing the vehicles for powered flight. Our focus for this year remains unchanged on ensuring the vehicles and our operations are prepared for long-term, regular commercial spaceflight service.”

About Virgin Galactic

Virgin Galactic is a vertically-integrated aerospace Company, pioneering human spaceflight for private individuals and researchers, as well as a manufacturer of advanced air and space vehicles. Using its proprietary and reusable technologies and supported by a distinctive, Virgin-branded customer experience, it is developing a spaceflight system designed to offer customers a unique, multi-day, transformative experience. This culminates in a spaceflight that includes views of Earth from space and several minutes of weightlessness that will launch from Spaceport America, New Mexico. Virgin Galactic and The Spaceship Company believe that one of the most exciting and significant opportunities of our time lies in the commercial exploration of space and the development of technology that will change the way we travel across the globe in the future. Together we are opening access to space to change the world for good.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Virgin Galactic Holdings, Inc. (the “Company”), including statements regarding the Company’s spaceflight systems, markets and expected performance. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. 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. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to the factors, risks and uncertainties regarding the Company’s business described in the documents filed by the Company from time to time with the Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause the

Company’s 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, except as required by law, the Company 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.

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