Surf Air Mobility Inc. · NYSE:SRFM
Surf Air Mobility — Investor Presentation (January 2025)
23 slides from Surf Air Mobility's investor presentation, Jan 29, 2025
Slide 1: Transforming regional flying
INVESTOR PRESENTATION F Transforming regional flying SURFAIR MOBILITY
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements. ‘This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act ‘of 1995. including statements regarding the anticipated benefits of the transaction; Surf Air Mobilitys ability to anticipate the future n
Slide 3: Surf Air Mobility
SURF AIR MOBILITY We are building the | air mobility platform that will transform regional flying
Slide 4: Strategic Differentiators
STRATEGIC DIFFERENTIATORS Why we are uniquely positioned to win in the regional air mobility market Scale Experience Depth Reach Technology Execution @) 02025 SURF AIR MOBILITY Largest regional commuter airline in the U.S.’ flying over 370K passengers per year Established operations and brand in a h
Slide 5: Air Mobility Landscape
AIR MOBILITY LANDSCAPE Urban Air Mobility Commercial Airlines
Slide 6: Market Opportunity
MARKET OPPORTUNITY The beginning of a massive growth industry “Innovative propulsion... could usher in a new era of frequent, convenient passenger flights on ‘small regional aircraft.” MCKINSEY & COMPANY > ‘May 2023, “Regional Air Mobility (RAM) will fundamentally change how we travel by bringing th
Slide 7: Surf Air Mobility Overview
SURF AIR MOBILITY OVERVIEW Two complementary business units combine to scale regional air mobility SURFAIR MOBILITY AIR MOBILITY AIR TECHNOLOGY =e z i: . + SCHEDULED ON-DEMAND SOFTWARE ELECTRIFIED POWERTRAIN AIR SERVICE TECHNOLOGY Established regional air mobility platform providing O Innovators in
Slide 8: Surf Air Mobility by the Numbers
SURF AIR MOBILITY BY THE NUMBERS We are the largest commuter airline by scheduled departures and are developing category-defining software for the industry with Palantir @ SOUTHERN SURFAIR Apmonnee NYSE: SRFM $118M Total revenue LTM 2024" TOP 5 SHAREHOLDERS* SCHEDULED ON DEMAND CHARTER Q Palantir ~1
Slide 9: 4-Phase Transformation Overview
4-PHASE TRANSFORMATION OVERVIEW PHASE? Transformation Improved capital structure J Strengthened balance sheet New management in place J Realized M&A synergies
Slide 10: November '24 Debt Transaction Overview
NOVEMBER ‘24 DEBT TRANSACTION OVERVIEW Surf Air Mobility secured new $50 million financing to fund transformation plan and path to profitability S50M Term loan with Comvest Partners A multi-billion-dollar investment management firm IMMEDIATE BENEFITS + Addresses near-term liquidity constraints + Lar
Slide 11: Structural Change
STRUCTURAL CHANGE Recent improvements have significantly reduced cash requirements and improved stock technicals IMPROVEMENTS | Strengthened balance sheet Level set stock technicals Substantially | lowered costs STATUS Vv Vv £< v IN PROGRESS DETAILS Addressing $70M of past liabilities with a targete
Slide 12: Business overview
SURF AIR MOBILITY +64 Business overview
Slide 13: Scheduled Air Service
SCHEDULED AIR SERVICE We've flown millions of passengers over millions of miles MAINLAND U.S. & HAWAII +. LTM ending September 30, 0024 2. Aircraft fleet consists of 42 Cessna Caravans, 8 Pilatus PCi2's, 3 Teenams, and 2 Saab 240s 3. Passengers flown in 2023: Sources: americanaitlines gcs-web.com, n
Slide 14: Scheduled Air Service: Hawaii Highlight
SCHEDULED AIR SERVICE: HAWAII HIGHLIGHT Our robust network in Hawaii demonstrates the potential of regional air mobility oe: a MOKULELE ADVANTAGES Largest interisland commuter airline + Little airline competition and no driving alternative Consistent, local customer base of repeat fliers Accessible
Slide 15: Scheduled Air Service: Essential Air Service (EAS) Highlight
SCHEDULED AIR SERVICE: ESSENTIAL AIR SERVICE (EAS) HIGHLIGHT Recurring government contracts currently drive ~41% of total revenue’ EAS NETWORK 1 TM ending September 30, 2024 2. US, DOT Subsidized CAS reports (May 2023) 6
Slide 16: On Demand
ON DEMAND Global on-demand charter operations DOMESTIC ON DEMAND ADVANTAGES + Asset-light marketplace + Focus on regional mobility with less supply constraints + $30B global TAM in 2023 for air charter services market with 5% CAGR (45% North America)? INTERNATIONAL 1. LTM ending September 30, 2024 2
Slide 17: Joint Venture Strategy
JOINT VENTURE STRATEGY Ongoing evaluation of joint venture partnerships with industry leaders to pursue upside drivers in a more capital-efficient manner SURFAIR MOBILITY [ AIR MOBILITY Revenue inflows from JV JOINT VENTURE + JOINT VENTURE 2 Separately funded Separately funded ‘S) ©2025 SURF AIR MOB
Slide 18: Upside Driver: Surf OS Software
UPSIDE DRIVER: SURF OS SOFTWARE We are developing an all-in-one software platform for the Advanced Air Mobility industry THE “OPERATING SYSTEM” FOR REGIONAL AVIATION 6 Building the software platform to support the growth and operations of the Advanced Air Mobility industry POWERED BY PALANTIR’S Al P
Slide 19: Upside Driver: Electrification Strategy
UPSIDE DRIVER: ELECTRIFICATION STRATEGY Our multi-pronged strategy will significantly improve unit economics and create new potential revenue streams 4 DEPLOY BEST-IN-CLASS ELECTRIC AIRCRAFT ACROSS OUR NETWORK Reduce operating costs and expand margins on our airline operations by deploying electrifi
Slide 20: Management Team
MANAGEMENT TEAM DEANNA WHITE CEO and COO "< + Joined Surf Air in 2021 + 20+ years of experience in the aerospace industry + Previously served as the CFO of Surf Air, COO of Wisk, and CEO and CFO of Bombardier Flexjet LIAM FAYED Co-Founder, Chief Brand & Experience Officer + Co-founded Surf Air in 20
Slide 21: Management Team
MANAGEMENT TEAM THOMAS ANDINO EVP of Technical Operations & Bp Director of Maintenance + Joined Surf Air in 2024 + Previously with Aero, Spirit Airlines, Virgin American, Hawaiian Airlines Vrescra Sinvpia KEN BIELER VP of Safety & Regulatory Compliance + Joined Surf Air in 2021 + Formerly with Wisk,
Slide 22: Board of Directors
BOARD OF DIRECTORS CARL ALBERT + Chairman and CEO of Fairchild Venture Capital Corporation, Fairchild Aircraft and Fairchild Aerospace + Chairman, CEO and President of Wings West Airlines, acquired by AMR Corporation, parent company of American Airlines ED MADY + President and COO of The Masterpiece
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