UK SPACE AGENCY CORPORATE PLAN 2025 | 2026 Boost UK prosperity, understand the universe, protect our planet and outer space. UK SPACE AGENCY Space holds the key to all our futures. For the period April 2025 to March 2026 The Sentinel-3A satellite over the United Kingdom UK Space Agency Corporate Plan 2025 | 2026 CONTENTS 1. Chief Executive's Foreword (Page 2) 2. About the UK Space Agency (Page 4) - Our Purpose, Role and Values (Page 4) - Our Context (Page 4) - Geopolitics (Page 5) - Our New Operating Model (Page 5) 3. Our Portfolio (Page 6) Themes: - Theme 1: Exploration (Page 6) - Theme 2: Space Science (Page 8) - Theme 3: Telecommunications (Page 9) - Theme 4: Launch (Page 10) - Theme 5: In-Orbit Servicing, Assembly and Manufacturing (Page 11) - Theme 6: Space Resilience (Page 12) - Theme 7: Earth Observation (Page 13) - Theme 8: Positioning, Navigation and Timing (Page 14) Threads: - Thread 1: Innovation, Investment and Commercialisation (Page 16) - Thread 2: Education and Future Workforce (Page 18) - Thread 3: International Partnerships (Page 20) - Thread 4: European Space Agency (Page 21) - Thread 5: Space Sustainability (Page 22) - Interventions and Foundations (Page 23) 4. Our Milestones (Page 24) 5. Our Approach (Page 26) 6. Our Organisation and People (Page 26) - Civil Service People Survey 2024 (Page 26) - People and Culture (Page 27) - Responsible Pioneers (Page 27) 7. Our Governance (Page 28) - Boards (Page 28) - Risk Management (Page 28) - Assurance (Page 29) 8. Our Performance (Page 30) - Performance Metrics (Page 29/30) - Benefits Management (Page 31) 9. Our Financial Plan (Page 32) - Financial Performance (Page 32) - Budget Allocations 2025-26 (Page 32) 10. Our Future (Page 34) Dr Paul Bate, Chief Executive Space makes our economy stronger, our nation safer, and our lives better. Space systems shape how we get information, get around, get connected and understand our Universe. Satellites see, connect and precisely locate every part of Earth, providing unique services that grow our economy and provide opportunity for all. Satellite data powers thriving businesses, supporting 18% of UK GDP across our economy - from agriculture and shipping to construction and transport. It helps scientists and officials to monitor our changing climate and protect our environment. It has the potential to transform the public services that support our communities. Far beyond Earth's orbit, spacecraft are unlocking global discoveries that inspire millions and foster new knowledge and innovation. UK-backed missions are studying solar activity and dark matter, 3D-mapping the universe, and on their way to explore Jupiter's icy moons. The benefits of space are all around us. But it can also pose risks - from the solar flares that could disrupt our power grid, to the growing debris that could damage the satellites we rely on. We must guard against the hazards that could disrupt our economy and critical national infrastructure. Whether developing satellites or sensors, software or science, our aim is to make the UK one of the best places to work in space. Our space sector generated £18.6 billion revenue in 2022-23. It is also estimated that in 2022-23, the total UK-based employment supported by the activities of the UK space industry was 136,900 (128,500 in 2021-22). With the global space economy set to be worth an estimated $1.1 trillion by 2045, and humanity planning to return to the Moon and travelling on to Mars, the next decade offers incredible opportunities for our world-class space sector to accelerate innovation, investment and productivity. For the UK to capitalise on this, we must both build on our existing strengths and focus on those markets and technologies with the greatest future potential. The Industrial Strategy signals a shift in how our country approaches space, as a priority sector within the Advanced Manufacturing Sector Plan. It builds on the importance of space, leveraging 60 years of capability, investment and skills. The focus is on building strong priority domestic capabilities while helping UK space companies grow their exports. It also aims to attract more private investment and position the UK as a global centre for space finance; the Government has high ambitions for space and expects focus and drive to deliver it. The UK Space Agency will continue to improve our ways of working to give this effect. We will plan for the long-term. We are developing delivery plans underpinning the cross-Government approach to space, and ensuring our programmes deliver results for our economy, national security, citizens, international relationships, and long-term innovation and science. We will target our resources. We will focus investment on a targeted set of markets and capabilities where the UK can excel: developing global niches in satellite communications, space domain awareness, position, navigation and timing, in-orbit servicing and manufacturing, space data applications, and space transportation. We will continue to invest in science and open innovation, and catalysing investment into the UK. We will use interlocking investment flywheels to drive growth. We will propel companies from start-up to sustainability, by investing in the right way, at the right time: with research and development (R&D) grants for early research, more procurement to pull products through to market, and co-investment to help businesses to grow. Our Unlocking Space programme will ensure we are supporting the customers and investors of space as well as the space sector itself. Whilst focusing on delivering this year's ambitious portfolio, we will also plan for future changes. The Government has announced that the Agency will merge with the Department for Science, Innovation and Technology (DSIT) Space Directorate from 1 April 2026, forming a new unit within DSIT responsible for civil space strategy, policy and delivery. Having a single unit with a golden thread through strategy, policy and delivery will make it faster and easier to translate the nation's space goals into reality. In coming together, we will build on the firm foundations of economic growth and capability development laid in recent years, including cutting-edge missions, major national programmes, and the regulations that enable UK launch and leadership in space sustainability. We will continue to deliver; whilst reducing duplication and ensuring we work even more closely with Ministers to support the UK space sector, and the country. The UK has a bold vision to make the UK one of the world's most innovative and attractive space economies. We are on our way: the UK's first horizontal and vertical spaceports are fully licenced, we have led global missions to protect our planet and search for life beyond, and we have developed a portfolio of investments in innovative technologies and markets. This 2025-26 Corporate Plan brings us to the start of our next phase, as we deepen capability, accelerate growth, and bring the benefits of space to every citizen. Dr Paul Bate Chief Executive of the UK Space Agency 'Space is a team sport. This Corporate Plan sets out how we will play our full part in this expert, inspiring and future-defining team.' OUR PURPOSE, ROLE AND VALUES The UK Space Agency (UKSA) is united by a shared purpose: to boost UK prosperity, understand the Universe, and protect our planet and outer space. We use space science and technology to drive prosperity across the economy, not just in the space sector. We help advance humanity's understanding of the universe by enabling space science and exploration missions. We protect our planet, by investing in space-based technologies that monitor our environment and climate and ensuring the responsible and sustainable use of space for future generations. To achieve this, we work closely with key partners in the UK space eco-system, including Research Councils, the Met Office, Ministry of Defence (MoD), Rutherford Appleton Laboratory and Satellite Applications Catapult, as well as industry and universities. The Agency's role is to: • Catalyse investment, by helping UK space organisations to attract more private and non-government funding, to maximise the space sector's long-term growth. • Deliver missions and capabilities, independently and with others, that use space science, technology and applications to meet national needs and help humanity to understand our universe. • Champion space, by encouraging other sectors to use space to deliver better services, tackle the climate emergency, inspire Science, Technology, Engineering and Mathematics education and lifelong learning, and advocate for sustainable space activities. In this, we are guided by three core values, which shape how our staff work together and with our stakeholders: • Act with integrity - We uphold the highest standards of honesty, transparency and accountability in everything we do. • Inspire and support one another - We foster a positive, inclusive environment where everyone feels valued, empowered, and motivated to succeed. • Build a better future - We are driven by purpose, using innovation and collaboration to create lasting impact for the UK and the world. OUR CONTEXT Recent years have seen significant growth in the global space economy. Space technology has become integral to how we live and work, underpinning £454 billion of the wider UK economy. Our space sector has pioneered new discoveries, keeping the UK at the cutting edge of global science, research and innovation. The UK Space Agency has helped make this possible, bringing the benefits of space down to Earth. During the Government's last Spending Review period, we deepened the UK's national space capabilities, supporting the first launch from Spaceport Cornwall and opening a new National Space Operations Centre to monitor space objects and keep our assets safe. We also committed £1.84 billion to the European Space Agency (ESA) between 2022 and 2027, achieving UK leadership in global missions and training three new UK astronauts to inspire our next generation. We have launched a suite of impactful new national programmes to drive sector growth. Amongst these, the National Space Innovation Programme and International Bilateral Fund kick-started innovative research projects, while the Connectivity in Low Earth Orbit Programme is building the UK's competitive strength in commercial satellite communications markets. Our Unlocking Space programmes attracted new customers and investors to grow our sector, while our Science and Exploration Bilateral Programme forged new partnerships with other countries. UKSA investments catalysed at least £2.2 billion of investment into the UK space sector in 2024-25. Throughout this period, we have demonstrated successful delivery: in 2024-25, we delivered 79% of our published milestones and met or exceeded 87% of our performance targets. Our staff survey shows Employee Engagement increased nine percentage points in the last three years and increased 16 percentage points for Leadership and Managing Change - in both cases going from well below the Civil Service average to well above it. We spent over 99.6% of our budget and increased the financial return the UK gets from ESA programmes, expected to add up to a billion pounds to the UK economy. GEOPOLITICS We recognise that geopolitical factors are increasingly influencing the UK's ability to access and benefit from space. The continuing conflict in Ukraine, recent US tariffs, proposed NASA mission funding cuts, and turbulent global currency markets all continue to impact the international space community. The wider geopolitical climate may affect international investment in space programmes, which could have knock-on effects for UK participation, though may create opportunities to diversify international collaborations. As the UK sector is closely involved in multi-national missions, changes to other countries' priorities could directly influence the scope and timing of the UK's activities in this or future financial years. OUR NEW OPERATING MODEL Last year, we completed a three-year Integrated Transformation Programme to make us fit for the UK's future in space. We opened new offices to position our staff closer to the sector we serve, whilst process modernisations, new digital tools and an organisational redesign have helped our teams work more efficiently and effectively. Our new operating model enables us to map activities across the Agency that contribute to "Theme" outcomes. See Figure 1 below. Themes are the segments of the space sector through which UKSA delivers outcomes, while five crosscutting "Threads" represent related activities that must be coordinated across Themes. A set of long-term plans define the objectives for each Theme and Thread: these plans form the basis of our portfolio and resource allocations, helping us invest now in the activities that will deliver long-term impact. Our success depends on how effectively we use our "Interventions": the tools that drive change. These include our funding programmes, the guidance we offer, and the opportunities we create - from publications that promote the space sector to expert advice that helps companies protect their assets. Our Themes, Threads and Interventions are all underpinned by our "Foundations": the central functions that keep us operating well. These include our specialist engineering and analyst teams, as well as our corporate, commercial, finance and HR services. Figure 1: UKSA Operating Model • THEMES: Exploration, Space Science, Telecomms, Launch, ISAM (In-Orbit Servicing, Assembly and Manufacturing), Space Resilience, Earth Observations, PNT (Positioning, Navigation and Timing). • THREADS: Innovation, Investment & Commercialisation; International Partnerships; Space Sustainability; Education & Future Workforce; European Space Agency. • INTERVENTIONS: Grants, Procurement, Co-investments. • FOUNDATIONS: Core organizational, corporate, financial, technical, and HR functions. This operating model was developed recognising the Agency's position relative to cross-governmental thinking, such as the National Space Strategy's Outcomes for Space, and the eight categories within the Space Industrial Plan. Our operating model constitutes our alignment to these wider outcomes, which we expect to see centralised and reinforced in the new DSIT-led space strategy document expected in early 2026. 3. Our Portfolio Aligned with the Government's broader ambitions, we have prioritised activities to deliver five key outcomes for space. Our Themes, Threads, and Interventions are all designed to contribute directly to these outcomes, which are to: • Use space to drive a high-growth economy that maintains the UK's global market position in space through capitalising on areas of comparative advantage, creates jobs in the sector, supports jobs in other sectors, scales space companies and boosts productivity. • Create a more innovative space sector that develops early-stage up- and down-stream ideas, brings ideas to market and uses space science to generate new knowledge and explore the universe. • Benefit citizens and the public by making better use of space services and data to benefit citizens and communities in the UK and tackle global challenges. • Create a more secure nation that can defend national interests in, or that are dependent on, space from hazards and threats, and supports UK and allied interests (National Security). • Ensure that the UK is a globally trusted partner of choice, able to shape the international space landscape and use space to achieve wider geopolitical and international objectives (International Relationships). THEMES Theme 1: Exploration The Exploration Theme helps to keep the UK at the cutting edge of the new space era, encouraging new ideas and progress. Space exploration missions use astronauts and robotics to understand and explore the solar system, revealing more about our nearest space neighbours. By joining multinational exploration missions, we can support UK jobs, build new industries and boost the economy. We can innovate new technologies that help to solve important challenges here on Earth too, such as climate change, resource management and health issues. Working with other countries on space exploration strengthens the UK's international relationships and influence, helping us to shape how space is managed and kept safe. Exploring space also inspires people across the UK to become scientists, engineers and innovators, helping build a skilled workforce for the future. The UK has played a pivotal role in a number of flagship missions: Rosalind Franklin Mars rover mission (design, build, and testing of the rover in Stevenage, plus scientific instruments), Argonaut programme (propulsion subsystem and descent engine tested at Westcott, Buckinghamshire), and the ENDURE programme (radioisotope heating units for lunar and deep space missions). Activities and outcomes in 2025-26 for Theme 1: • Complete the second stage of training for the UK's ESA reserve astronauts, Meganne Christian and John McFall -> Benefits citizens and the public; International relationships; Innovative UK economy • Continue to support cutting-edge research and collaboration by awarding grants to the exploration research community -> Innovative UK economy; Benefits citizens and the public; International relationships • Continue to fund UK research organisations to collaborate internationally via the National Space Exploration Programme and the Science and Exploration Bilateral Programme -> Benefits citizens and the public; International relationships; Innovative UK economy Theme 2: Space Science The Space Science Theme, in collaboration with ESA and UKRI's Science and Technology Facilities Council (STFC), aims to maintain UK scientific excellence, grow industrial capabilities and develop pioneering technologies. UKSA funds more than 20 missions across its portfolio (including James Webb Space Telescope and ARIEL). For every £1 of public funding in space science, at least £2.50 is generated for the UK economy. Activities and outcomes in 2025-26 for Theme 2: • Continue to fund UK research organisations to collaborate internationally and build space science prowess via the National Space Science Programme and Science and Exploration Bilateral Programme -> International relationships; Innovative UK economy; Benefits citizens and the public • Continue championing UK leadership and capability, fostering deeper international partnerships -> International relationships; Innovative UK economy; Benefits citizens and the public Theme 3: Telecommunications The Telecommunications Theme is responsible for developing the UK's satellite communication capability across GEO, LEO, and MEO constellations, delivered via national and ESA programmes such as ESA ARTES and Connectivity in Low Earth Orbit (C-LEO). Activities and outcomes in 2025-26 for Theme 3: • Use the ESA ARTES programme and national C-LEO programme to fund UK companies to develop new commercial technologies -> Innovative UK economy; High growth UK economy; Benefits citizens and the public • Continue UK leadership of the communication segment of the ESA Moonlight programme -> Innovative UK economy; Benefits citizens and the public • Continue efforts to deliver a new direct-to-device (D2D) capability in collaboration with ESA and ViaSat -> Innovative UK economy; High growth UK economy; Benefits citizens and the public Theme 4: Launch The Launch Theme aims to establish the UK as a leading European provider of small satellite launch services, prioritising environmental sustainability, clean propulsion systems, and eco-friendly spaceports. Activities and outcomes in 2025-26 for Theme 4: • Collaborate with partners to drive forward UK space launch capabilities, with the first launch from SaxaVord Spaceport planned for 2026 -> High growth economy; National security and defence • Target investment in spaceports across the country, advance launch vehicle technologies, and strengthen supply chains -> High growth economy; National security and defence • Launch the In-Orbit Now Service under the CSTS Boost! Programme -> Innovative UK economy; High growth economy; National security and defence Theme 5: In-Orbit Servicing, Assembly and Manufacturing (ISAM) ISAM drives innovation in technologies enabling satellites and space equipment to be repaired, upgraded, or built in space, as well as Active Debris Removal (ADR). Activities and outcomes in 2025-26 for Theme 5: • Begin procurement of services from industry for a national ADR mission -> High growth economy; National security and defence; Innovative UK economy • Develop a long-term plan to advance ISAM capabilities -> Innovative UK economy; High growth economy; National security and defence Theme 6: Space Resilience Supports safe, sustainable, and reliable use of space for essential services, reducing risks of collisions, cyberattacks, technical failures, and space hazards. Activities and outcomes in 2025-26 for Theme 6: • Support the space sector to improve security and resilience -> National security and defence; High growth economy • Further develop the National Space Operations Centre (NSPoC) in collaboration with UK Space Command and the Met Office -> National security and defence; High growth economy • Conduct exercises to enhance UK preparedness for potential space threats and hazards -> National security and defence Theme 7: Earth Observation (EO) Uses satellite EO data to tackle global challenges, improve public services, monitor climate change, and support disaster response and economic growth. Activities and outcomes in 2025-26 for Theme 7: • Improve access to reliable EO and remote sensing data through the EO Data Hub -> Benefits citizens and the public; Innovative UK economy • Support the launch of five missions (including Biomass, Copernicus, meteorological satellites, and MicroCarb with CNES) -> Innovative UK economy; Benefits citizens and the public; International partnerships • Spread best practice for measuring methane emissions with NASA, and champion commercial services through Space4Climate -> Innovative UK economy; Benefits citizens and the public • Host the CEOS Plenary in Bath and the first Youth Summit before handing the Chair to Australia -> International partnerships; Benefits citizens and the public • Continue advancing new EO technologies and skills through EO Technology Programme investments -> High growth economy; Innovative UK economy; Benefits citizens and the public Theme 8: Positioning, Navigation and Timing (PNT) PNT secures the UK's digital infrastructure, national resilience, and competitiveness through a System of Systems approach. Activities and outcomes in 2025-26 for Theme 8: • Grow the PNT sector through investment in ESA's NAVISP -> High growth economy; Innovative UK economy; National security and defence; Benefits citizens and the public • Continue to progress the Two-Way Satellite Time and Frequency Transfer (TWSTFT) Capability Project -> Innovative UK economy; Benefits citizens and the public; National security and defence THREADS Thread 1: Innovation, Investment and Commercialisation (IIC) Focuses on Demand, National Security, Growth, and Innovation across the UK space industry (over 1,700 companies generating nearly £18.9 billion annually). Activities for 2025-26: • Use Unlocking Space initiatives to tackle SME scaling barriers across Business, Investment, and Government. • Conclude the UK Space Accelerator Programme. • Award grants for National Space Innovation Programme (NSIP Call Two). • Direct ESA GSTP UK contracts to support strategic technology development. • Award business grants and procurement contracts across priority sectors (healthcare, transport infrastructure). Thread 2: Education and Future Workforce Focuses on Space to Inspire, Space to Learn, and Skills for Space to build a diverse and skilled workforce. Activities for 2025-26: • Continue sponsorship of 6 space badges with Scout Association and Girlguiding; engage 25 regional science centres. • Continue ESERO-UK partnership with ESA, masterclasses, summer camps, and ARISS ISS contacts. • Deliver comprehensive space sector survey via Skills for Space, Space Skills Advisory Panel, and Space Partnership. • Partner with Space Skills Alliance, support Space Universities Network and UKSEDS, prepare for summer 2026 internship placements. • Develop collaborative frameworks with ESA Education and DSIT. Thread 3: International Partnerships Builds and strengthens strategic international partnerships, opening global markets and shaping international norms. Activities for 2025-26: • Deploy International Bilateral Fund (IBF) to build partnerships and grow exports. • Collaborate with international partners across all Themes. Thread 4: European Space Agency (ESA) Maximises the benefits of UK membership in ESA, securing industrial geo-return and advancing UK capabilities. Activities for 2025-26: • Participate in ESA Council of Ministers in November 2025 (CM25). • Prepare for CM25 via the ESA Council Working Group. • Improve UK geo-return and reinstate ESA Technology Broker role. • Improve ECSAT centre offering in Harwell in accordance with ECSAT 10 Year Plan. Thread 5: Space Sustainability Promotes responsible and sustainable use of orbits, managing debris and preserving dark and quiet skies. Activities for 2025-26: • Implement sustainability plans across UKSA work. • Create and put into action a Space Sustainability Strategy. • Participate in regulatory sandboxes to update sustainability licensing guidance. • Champion space sustainability internationally (IADC, UN COPUOS, UNOOSA). INTERVENTIONS AND FOUNDATIONS • Interventions: Grants, procurement, co-investments, regulatory alignment, and communications that drive real-world change. • Foundations: Specialist engineering, science, technology, commercial, project delivery, finance, HR, and governance teams. • Key planned deliverable: Rollout of the Corporate Technology Strategy to modernise digital tools, data, and systems. Table 1: Key Milestones and Forecast Dates for 2025-26 THEMES: - Earth Observation: • Completion of MicroCarb final launch readiness review and testing | 30.06.2025 • Conclusion of Committee of Earth Observation Satellite Plenary led by the UK | 04.11.2025 • Delivery of software solution to federate UK offering for the EO Data Hub | 31.03.2026 • Completion of Climate Service Funding Programme | 31.03.2026 - In-Orbit Servicing, Assembly and Manufacturing: • Awarding of Active Debris Removal mission phase three contract | 31.03.2026 - Space Resilience: • Delivery of National Space Operations Centre enhanced analysis capability for complex space data | 31.03.2026 • Delivery of National Space Operations Centre enhanced automated space warning and protection features | 02.01.2026 - Positioning, Navigation and Timing: • Creation of a Two-Way Satellite Time and Frequency Transfer signal | 31.03.2026 - Telecommunications: • Awarding of the next tranche of Connectivity in Low Earth Orbit funds | 31.03.2026 - Launch: • Launch of In-Orbit Now service for CSTS Boost! Programme (Dependency: D-Orbit) | 31.12.2025 • First Launch from SaxaVord Spaceport (Dependency: SaxaVord Spaceport and Rocket Factory Augsburg) | 31.03.2026 - Exploration: • Completion of stage two of astronaut reserve training for Meganne Christian and John McFall | 31.10.2025 • Awarding of Exploration Research Community and Working Group grants | 02.01.2026 - Space Science: • Launch of Solar wind Magnetosphere Ionosphere Link Explorer (SMILE) Mission (Dependency: ESA SMILE Mission) | 31.12.2025 • First full data release to the consortium from the ESA EUCLID telescope (Dependency: ESA EUCLID Mission) | 03.10.2025 THREADS: - Innovation, Investment and Commercialisation (IIC): • Launch of Interstellar Mapping and Acceleration Probe Mission (Dependency: NASA and SpaceX) | 30.09.2025 • First investment in a space company made by the UKI2S space portfolio (Dependency: Future Planet Capital) | 31.10.2025 • Completion of the 2025-26 Unlocking Space for Business projects | 31.03.2026 • Completion of the 2025-26 Unlocking Space for Government projects | 31.03.2026 • Signing of grant funding agreements for National Space Innovation Programme (NSIP) Call 2 | 14.11.2025 • Conclusion of the 2025-26 UK Space Agency Accelerator Programme | 31.03.2026 - Education and Future Workforce: • Launch of the Space Skills Survey (2025) | 01.10.2025 - International Partnerships: • Awarding of grants for the next iteration of the International Bilateral Fund | 30.09.2025 • Completion of the 2025-26 International Bilateral Fund projects | 31.03.2026 - ESA Policy & Operations: • Subscription to ESA programmes at ESA's Council of Ministers 2025 | 27.11.2025 - Sustainability: • Publication of data and reporting framework for Taskforce for Climate Related Financial Disclosures | 31.03.2026 • Production of climate change adaptation strategy | 31.12.2025 FOUNDATIONS: - Corporate Technology Strategy: • Delivery of initial digital tools to improve Agency processes | 31.03.2026 CROSSCUTTING: - Capability Development Plan: • Production of cross-Government space capability delivery plans | 31.03.2026 - Research and Development Plan (R&D): • Production of joint UKSA-UKRI-DSIT Space R&D plan to align investment | 31.03.2026 5. Our Approach Guided by three priorities: 1. Maintaining our licence to operate by getting the basics right every day. 2. Spending our budget well by matching resources to Government goals. 3. Building certainty for the rest of the decade by planning now. 6. Our Organisation and People CIVIL SERVICE PEOPLE SURVEY 2024: - Agency participation rate: 77% (down 4pp from 81% in 2023; Civil Service average 61%). - Employee Engagement Index: 71% (up 6pp from 65% in 2023). - Leadership & Managing Change: 60% (up 7pp from 53% in 2023; up 16pp from 44% in 2022). PEOPLE AND CULTURE & RESPONSIBLE PIONEERS: - Responsible Pioneers People Strategy 2024-29 focused on five parts: 1. Building Respect and Pride 2. Resourcing for the Future 3. The Employee Experience 4. Giving Recognition and Reward 5. The Pioneers Centre of Excellence BOARDS: - UKSA Board: Oversees long-term success, provides scrutiny, challenge and support. - Audit, Risk and Assurance Committee (ARAC): Advises Board and Chief Executive on risk, control, governance, and financial reports. - Executive Committee (ExCo): Provides strategic leadership and corporate decision-making. - Delivery Board: Oversees portfolio delivery, resource utilization, milestones, and benefits. - Foundations Board: Controls, assurance, operational delivery, culture, and workforce. - Design Authority Board: Governs changes to the operating model. RISK MANAGEMENT: Managed under Risk Management Policy, Risk Appetite Statement, and Risk Management Framework. Principal Risks for 2025-26: 1. Staff skills and capacity to deliver the best outcomes 2. Effective protection of staff, visitors and assets 3. Effective management of finances 4. Commercial relationships to deliver the best outcomes 5. Interventions that deliver the best outcomes 6. UK space sector response to opportunities 7. Geopolitical factors affecting UK opportunities 8. Disruption to Agency activities 9. International Partnerships ASSURANCE: Managed via Integrated Assurance Strategy, Framework and Process Guide, and Annual Assurance Plan. Table 2: Performance Metrics and Targets for 2025-26 • Investment catalysed (North Star Metric): Green = £2,134,600,000; Amber = 75-99%; Red = Below 75% • ESA geo-return coefficient score: Green = above 0.97; Amber = 0.95 to 0.97; Red = below 0.95 • Jobs created: No target set in 2025-26 (establishing baseline) • Scientific publications: No target set in 2025-26 (tracked via Researchfish) • International collaborations: No target set in 2025-26 (£ value of live agreements) • Tracklets monitored: Green = 5,000+ per day; Amber = 3,500-4,999; Red = 3,500 and below • Grant score: No target set in 2025-26 • Risks outside of tolerance: Green = below 3%; Amber = 3-10%; Red = above 10% • Expenditure within limits: Green = within ±1% of P6 DEL delegation; Amber = ±1-2%; Red = greater than ±2% • Bullying and harassment: Green = 7% or below; Amber = 7-10%; Red = above 10% • Staff absence: Green = less than 2024-25 average; Amber = less than 10% increase; Red = greater than 10% increase • Staff turnover: Green = ±2pp from 19% target; Amber = ±4pp; Red = ±6pp • Milestone timeliness: Green = less than 10% delayed by 60+ days; Amber = 10-20%; Red = 20% or more BENEFITS MANAGEMENT: Evaluation Strategy embeds robust monitoring, ensuring value for money across spending cycles. FINANCIAL PERFORMANCE: In 2024-25, achieved financial target within 0.34% underspend (£2.1 million of target) on £618.2 million allocation. BUDGET ALLOCATIONS 2025-26: Total budget allocated by DSIT for 2025-26 is £681.3 million (a 10% uplift). Total over-programming of -£5m applied. Table 3: Detailed Budget Allocations for 2025-26 (UKSA Budget / Expected ESA Spend): THEMES: - Exploration: £73m / £60m - Space Science: £166m / £132m - Telecommunications: £128m / £96m - Launch: £12m / £2m - In-Orbit Servicing, Assembly and Manufacturing: £4m / £0m - Space Resilience: £43m / £30m - Earth Observation: £119m / £112m - Positioning, Navigation and Timing: £11m / £10m THREADS: - Innovation, Investment and Commercialisation: £70m / £21m - Education and Future Workforce: £4m / £0m - International Partnerships: £7m / £0m - Space Sustainability: £1m / £0m CROSSCUTTING: - Capabilities: £5m / £0m NON-PORTFOLIO: - Foundations and Interventions: £12m / £0m - Total staffing and associated costs: £31m / £0m - Over-programming: -£5m / £0m TOTAL 2025-26 ALLOCATION: £681m / £463m 10. Our Future From 1 April 2026, the UK Space Agency will merge with the DSIT Space Directorate to form a unified civil space strategy, policy, and delivery organisation within the Department for Science, Innovation and Technology, retaining the Agency's name and branding. REFERENCES: 1. London Economics, 2025. Size and Health of the UK Space Industry 2024. 2. London Economics, 2025. Size and Health of the UK Space Industry 2024. 3. Know.Space, 2023. The Case for Space. 4. London Economics, 2025. Size and Health of the UK Space Industry 2024. 5. National Audit Office, 2024. The National Space Strategy and the Role of the UK Space Agency. 6. GOV.UK, 2025. UK Space Agency Annual Report and Accounts 2024-25. 7. GOV.UK, 2025. Record UK contract wins through European Space Agency. 8. GOV.UK, 2021. National Space Strategy. 9. GOV.UK, 2024. Space Industrial Plan. 10. Victor, L., 2020. An assessment of the industrial impacts of UK funding through the ESA Space Science Programme. 11. 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