Slide 1: Second Quarter 2026 Earnings Call
Second Quarter 2026 Earnings Call August 12, 2026
Slide 2: Disclaimer – Forward Looking Statements
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx DISCLAIMER – FORWARD LOOKING STATEMENTS Forward Looking Statements This presentation and the related conference call cont
Slide 3: AEVEX M&A News
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx AEVEX M&A NEWS 3
Slide 4: Creating One of the Largest Pure-Play, Battle-Tested, Multi-Domain UxS Providers
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx CREATING ONE OF THE LARGEST PURE-PLAY, BATTLE-TESTED, MULTI-DOMAIN UXS PROVIDERS PROVIDES AEVEX WITH AT-SCALE PRODUCTION
Slide 5: Proposed Transaction Summary
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx • AEVEX to acquire BlackSea at a valuation of up to ~$650M on a Purchase cash-free, debt-free basis • Includes up to a po
Slide 6: Strategic Combination Expected to Enable the Future of Autonomous Capabilities
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx STRATEGIC COMBINATION EXPECTED TO ENABLE THE FUTURE OF AUTONOMOUS CAPABILITIES Expected to create one of the largest prov
Slide 7: Track Record of Executing Missions for Global Customers
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx TRACK RECORD OF EXECUTING MISSIONS FOR GLOBAL CUSTOMERS Battle-Proven Technologies with Track Record of Performance, Bene
Slide 8: Combat Proven Unmanned Surface Vehicles
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx COMBAT PROVEN UNMANNED SURFACE VEHICLES GARC & Chaser Key Capabilities Case Study: Operation Epic Fury Designed for Capac
Slide 9: Strategic Locations and Facilities Designed for Scaled Production
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx STRATEGIC LOCATIONS AND FACILITIES DESIGNED FOR SCALED PRODUCTION HQ: Baltimore, Maryland State-of-the-Art Facilities Bet
Slide 10: Strategically Aligned Operationally
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx Strategically To create one of the largest providers of battle-proven autonomous air and maritime platforms, poised to Al
Slide 11: Q2 Results
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx End of Acquisition Section Q2 Results 11
Slide 12: Industry Update
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx INDUSTRY UPDATE GEOPOLITICAL ENVIRONMENT • Conflict in Europe and the Middle East continues, putting upward pressure on g
Slide 13: Q2 Key Highlights
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx Q2 KEY HIGHLIGHTS Revenue up ~100% y/y driven largely by UAS production volume 1 Drive Growth LTM Book-to-Bill of 1.0
Slide 14: Order and Backlog Highlights
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx ORDER AND BACKLOG HIGHLIGHTS ORDER AND BACKLOG HIGHLIGHTS Recent Awards Provide Increased Visibility Backlog Dynamics Ref
Slide 15: Pipeline Outlook
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx PIPELINE OUTLOOK Pipeline Growth Continues ($ in Billions) Select Ongoing Campaigns with Potential Contract Values Exceed
Slide 16: Q2 Financial Results
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx Q2 FINANCIAL RESULTS Revenue up 100% Driven largely by production ramp in the Tactical Systems business Net Income up 1
Slide 17: Tactical Systems – Q2 Results
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx TACTICAL SYSTEMS – Q2 RESULTS Revenue up 142% Driven by largely by the EUCOM Deep Strike program, which began ramping i
Slide 18: Global Solutions – Q2 Results
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx GLOBAL SOLUTIONS – Q2 RESULTS Revenue down 5% Driven largely by timing of an aircraft sale in Q2 2025 Segment Adjusted
Slide 19: YTD Cash Flow
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx YTD CASH FLOW Improved Cash Flow Driven by higher Net Income offset by higher working capital given program timing Re
Slide 20: 2026 Financial Outlook
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx 2026 FINANCIAL OUTLOOK Prior Outlook1 Current Outlook2 Revenue $600M to $620M $700M to $720M Adjusted EBITDA3 $88.0M to $
Slide 21: Appendix – Non-GAAP Measures
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx APPENDIX – NON-GAAP MEASURES This presentation contains the financial measures Adjusted EBITDA and Adjusted EBITDA margin
Slide 22: Appendix – Net Income to Adj. EBITDA and Adj. EBITDA Margin Reconciliation
ibdroot\projects\IBD-NY\advent2025\973732_1\02. Presentations\24. Testing the Waters Presentation (Mar-2026)\Project Ascent - Testing the Waters Presentation (Mar-2026)_vFFF.pptx APPENDIX – NET INCOME TO ADJ. EBITDA AND ADJ. EBITDA MARGIN RECONCILIATION 22
Slide 23: Thank You
AEVEX Thank You