Sky Harbour Group Corporation · NYSE:SKYH
Sky Harbour — Q1 2025 Earnings Presentation
16 slides from Sky Harbour's earnings presentation, May 13, 2025
Slide 1: Sky Harbour 2025 Q1 Earnings Webcast
SkyHarbour 2025 Q1 Earnings Webcast
Slide 2: Forward-Looking Statements
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Slide 3: Presenters
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Slide 4: Presenters
Slide 5: Sky Harbour Group Corp Financial Results
SKY HARBOUR GROUP CORP FINANCIAL RESULTS Construction Accelerating, Increasing Revenues (COST OF CONSTRUCTION AND CONSTRUCTED ASSETS (QUARTERLY REVENUES (OPERATING EXPENSES Uomitons) Gomitionsy SSEEEEER ER EES ‘OPERATING RESULTS (inmions) EEREEEERSEER RE 588555838555 5S NET CASH FLOW USED IN OPERATI
Slide 6: Consolidated Operating Performance and Income Statement
CONSOLIDATED OPERATING PERFORMANCE AND INCOME STATEMENT OPERATING EXPENSE INCREASE GF24. 0125 CASI USED IN OPERATING ACTIVES INCREASE Qt24 125 Gtrovsanas) (Wotrounaney ° ° 1099 Ane 1700 2000 160 200 Fat exgenelneresne 3000 New Gow ese Operating Can OVT. APA ADS ‘Operating Eeporse aT, APA, ADS Aeonat
Slide 7: Sky Harbour Capital - PABs Obligated Group
SKY HARBOUR CAPITAL - PABS OBLIGATED GROUP Results Awaiting Expected Step Up in 2025 with Three New Campus Openings Ost OF CONSIRUCTONANO CONSTRUCTED ASSETS__GUARTERLY REVENUES OPERATING EXPENSES Gomer) ery {miter 2 2 > 2 as as is 2 2 a os os ° ° EPRQRPRGRERES CRRRRRREREERES “REREERRE SE EE ESSSESSS
Slide 8: Site Acquisition
SITE ACQUISITION Accelerated Acquisition Pace: Short-Term Investment Drives Long-Term Value 20% 800m Revenue Wilghted Average’ Premium 2022 CBRE Aesumpton $29.08 om ‘average Expacied Revenue $9578 140mm Highest Expected Reverse 1096 Potential Revenue Opportunty at SHER Stabitzation
Slide 9: Hillsboro (HIO) - New Ground Lease in Portland, OR
HILLSBORO (HIO) - NEW GROUND LEASE IN PORTLAND, OR Revenue Capture Potential Demand Overview - 192,000 RSF - Main Private/Business Av Airport Serving Portland - Potential Stabilized Revenue: $7.0 million ~ Tech Sector Growth
Slide 10: Construction Scale-Up
CONSTRUCTION SCALE-UP Continued Vertical Integration, Leadership Augmented ns tic k Intended Effect subonacing | | € 50 » Bsceecns | {___ es ay = a a Reema ¢C ) Bisco anc - : Eomers’ | + (_ suiguaiy ») Pre- ed Metal na Sul Marractaing 0 >) x _ Gorlwneccoenen : “ \ Z Prototyping:
Slide 11: Strong Liquidity and Lower Cost of Capital
STRONG LIQUIDITY AND LOWER COST OF CAPITAL U.S. TREASURIES AND CASH ‘SERIES 2021 BOND TRADING PERFORMANCE (In thousands) Yield on 4.25% Bond Due 2054 si381s 70% "Cash ® Treasuries oom ~$97.5 Million i i sone
Slide 12: Permanent Capital: Key to Prudent Funding of Growth
PERMANENT CAPITAL: KEY TO PRUDENT FUNDING OF GROWTH CAPITAL OPPORTUNISTICALLY In lieu of a portion or all dividends in the Public ATM or marketed offerings early years PIPEs . ~ a? Se f—7 PRIVATE ACTIVITY TAX-EXEMPT DEBT Dual Tracking Bank and Altractive Indicative Levels id Solutions ing management
Slide 13: Expansion of Construction Team and Development Capabilities
* Expansion of Construction Team and Development Capabilities * DVT, ADS, & APA almost completed and cornmencing operation * 2 projects targeted for delivery by early 2026 (ADS2 and OPF2) 16 additional campuses in development * DVT. ADS, APA in round-one lease-up Preleasing ext in progress ~ Brand F
Slide 14: Vertical Integration
Vertical integration Quality Speed Scale Cost Capitalize on growing Sky Harbour brand * Top residents in the country = Cater to critical players in tight department * Pilots, MX, $80, Security Team * Build up national leasing tear Laser-focus on the Sky Harbour Resident with @ UNIQUE, clearly-difter
Slide 15: Questions
SkyHarbour QUESTIONS
Slide 16: Sky Harbour
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