Sky Harbour Group Corporation · NYSE:SKYH
Sky Harbour — Q4 2024 Earnings Presentation
18 slides from Sky Harbour's earnings presentation, Mar 27, 2025
Slide 1: 2024 Q4 Earnings Webcast
Skyllarbour 2024 Q4 Earnings Webcast March 27', 2025
Slide 2: Forward-looking statements
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Slide 3: Non-GAAP financial measures
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Slide 4: Presenters
PRESENTERS FRANCISCO GONZALEZ Finan MICHAEL SCHMITT
Slide 5: Sky Harbour Group Corp Financial Results
SKY HARBOUR GROUP CORP FINANCIAL RESULTS Construction Accelerating, Increasing Revenues cost ED ASSETS E (OPERATING EXPENSES" Gamionsy Gormions) Gomionsy s 20 Z as i 4 x0 i a6 : a 190 2 a 100 2 2 I | | 8 | 8 7 : ‘ “al I 3 ool 7 HR RS RR BEE EREER = BOR 8 RR RRR RR RE SEESEE 5883858 8 35 3 3883553555
Slide 6: Sky Harbour Capital - PABS Obligated Group
SKY HARBOUR CAPITAL - PABS OBLIGATED GROUP Results Awaiting Expected Step Up in 2025 with Three New Campus Openings cost : : OPERATING EXPENSES Gtnmitons Giionsy Grnionsy "= 2 2 « . _ 7 : ‘ os os ° ° ‘ 8 ge 8 5 RRR RRA RL RR ER SEESES EE EE ES SEESSESS ESS 333535383558 3 08a (OPERATING RESULTS NET C
Slide 7: Adjusted EBITDA
ADJUSTED EBITDA Commencement of Reporting of Quarterly and Annual Adjusted EBITDA Adjusted EBITDA defined as net income before: (i) depreciation and amortization expense Fy'22 FY'23FY'24 | Q4'24 (ii) interest expense Net loss (13,678) (25,441) (53,683)) (15,948) (ii) interest income ‘Add (subtract):
Slide 8: Site Acquisition
SITE ACQUISITION Accelerated Acquisition Pace: Short-Term Investment Drives Long-Term Value a Pp gg ga Potential Revenue Opportunity at SHER Stabilization
Slide 9: Development
DEVELOPMENT Project Completion Update Facility in Operation scr 042020 $10.50 080 BNA 242022 257 149,069 OFF! 1 2023, 32 160,092 suc 12024 3 41,464 CMA 042024 33 121931 Under Construction 12025 513-566 134270 APA 12025 448-508 130,550 ADS. 1 2025 329-349 197,835 OPF II 2 202 341-386 155,100 In Permi
Slide 10: 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 $92,003 =Cash = Treasuries en0n029 sron02e enonoat ‘en02024 ~$127.2 Million
Slide 11: Growth Capital
GROWTH CAPITAL PIPE Closing, NYSE Uplisting and Upcoming Debt Issuance PIPE: $75.2 million proceeds at net purchase price of $9.50 Upcoming Debt Issuance: $150 million ‘Sources ($ in thousands) PIPE Closing $75,000 Excess SKYH Cash $15,000 Funded for ~800,000 Incremental Debt $160,000 square feet on
Slide 12: Camarillo (CMA) Acquisition
CAMARILLO (CMA) ACQUISITION Revenue Capture Potential Demand Growth - 120,000+ RSF - Prime LA-area Market - Potential Stabilized Revenue: $4.0 million = Closure of Santa Monica Airport
Slide 13: Trenton (TTN) - New Ground Lease
TRENTON (TTN) - NEW GROUND LEASE Revenue Capture Potential Demand Growth - 156,000 RSF - Heavy repositioning airport serving NY market - Potential Stabilized Revenue: $8.0 million - Overflow of jets from primary airports
Slide 14: Boeing Field (BFI) - Assumed Leasehold Improvement & GL
BOEING FIELD (BFI) - ASSUMED LEASEHOLD IMPROVEMENT & GL Revenue Capture Potential Demand Growth - 90,000 RSF - Closest airport to downtown Seattle - Potential Stabilized Revenue: $3.0 million - Tech Sector Growth
Slide 15: DVT & ADS finishing completion and commencing operation
DVT & ADS finishing completion and ‘commencing operation APA set for delivery by spring 2025 2 Now projects targeted for dalvry in ey 2026 (ADS2 and OPF2) 14 adcitional project phases in development ‘SH37 Prototype Design Complete Initial leases signed in DVT & ADS ‘APA under LOI pending CO Preleasi
Slide 16: Scaling
Scaling * Scaling program: = Quality + Time Capitalize on growing Sky Harbour brand = Top residents in the country = Expose more people to Sky Harbour offering Cater to critical players in fight department * Pilots, MX, S&D, Security Team Laser-focus on the Sky Harbour Resident = Scaling operational
Slide 17: Questions
SkyHarbour QUESTIONS
Slide 18: Slide 18