Sky Harbour Group Corporation · NYSE:SKYH

Sky Harbour — Yellowstone Acquisition — SPAC Merger (August 2021)

26 slides from Sky Harbour's SPAC merger presentation, Aug 3, 2021

  1. Slide 1: Slide 1

  2. Slide 2: Disclaimer

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  3. Slide 3: Disclaimer

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  4. Slide 4: Mission: Build the First Nationwide Network of Home Basing Solutions for Business Aviation

    MISSION: BUILD THE FIRST NATIONWIDE NETWORK OF HOME BASING SOLUTIONS FOR BUSINESS AVIATION

  5. Slide 5: Sky Harbour – Snapshot

    SKY HARBOUR ~ SNAPSHOT + 80+ artfields -400 Bps spread between cost of debt and NOI yield italize on frst m tage to remain largest player i US market

  6. Slide 6: Transaction Overview

    TRANSACTION OVERVIEW Overview +Business combinationto raise equity proceeds towsrd the funding of 20 Sky Harbour aipor hangar campus sites + Presaney equiy value of $450MM, proforma equiy value ct 877MM, based on Scab Sh Pe 998 Sources and Uses se ont below 1 Forest Onan 7 + Target of $273§MM gross

  7. Slide 7: Investment Highlights

    INVESTMENT HIGHLIGHTS Proven market opportunity with recession-resistant demand drivers Disruptive business model supported by clear advantages to customers and partners Business structured to scale quickly in large addressable market Significant barriers to entry Besi-in-class management team with

  8. Slide 8: Sak |

    Sak | Gain = fEseS re ‘Sky Harbour Tenants Get Airport Sponsors Get + Privacy and Security + Aircraft Value Preservation + High Sponsor Revenues + Effcleney of Operations — + No Hangar Rash + Low Emviconmental Impact + ShortestTimeto Wheels-Up > No Foam Dumps + LowNoise Impact + Dedicatedtine Senice

  9. Slide 9: Executive Team Matched to Mission

    EXECUTIVE TEAM MATCHED TO MISSION Francisco Gonzalez Skstlarbour CFO er Millie Becker Siliebowr Director ot Sales MILLION AI yap TalKeinan Siollaiou Founder, CEO en GE Wy ‘Alex Saltzman Stoll COO. Peter Rusnak Si tlarbowr VP Operations TimJohnson Silevbou SP Compan oncanelA

  10. Slide 10: Disrupting Business Aviation Infrastructure

    DISRUPTING BUSINESS AVIATION INFRASTRUCTURE

  11. Slide 11: Slide 11

  12. Slide 12: Sky Harbour's Total Addressable Market Is Growing

    SKY HARBOUR'S TOTAL ADDRESSABLE MARKET IS GROWING Cumulative US Business Jet Fleet Us business jet fleet continues to grow * Aircraft deliveries exceed retirements annually *+ More aircraft deliveries increase demand for airport infrastructure dedicated to parking * Aircraft storage space - whether

  13. Slide 13: Business Aircraft Footprint Growing Faster Than Fleet

    BUSINESS AIRCRAFT FOOTPRINT GROWING FASTER THAN FLEET More aircraft and proportionally more large aircraft driving accelerated demand for airport real estate * Current generation of ultra-large business jets have a footprint that exceeds 11,000 square feet * Larger aircraft drive an increased mbalan

  14. Slide 14: Business Aircraft Becoming Larger and More Expensive

    BUSINESS AIRCRAFT BECOMING LARGER AND MORE EXPENSIVE ‘Owners of high-value aircraft prioritize value-retention, =a 3 efficiency, security and privacy + Hangared aircraft experience fewer incidents related to hangar rash, - — ne eee foam-dumps, condensation damage, nconsistent mantenance ‘access, and

  15. Slide 15: Hangar Supply Constrained

    HANGAR SUPPLY CONSTRAINED + Economic output and business arcatt ownership and utzation fl Me are positively correlated tet + Airports in major US markets are physically constrained Virtually impossible to build or expand airports in major cities + Aports offen view their customers to be transient ai

  16. Slide 16: Business Aviation Market Attractive to Investors

    BUSINESS AVIATION MARKET ATTRACTIVE TO INVESTORS Sky Harbour benefits from the same macro drivers that havelong attracted sophisticated investors | <E frees Syitine Fightbarety ues 1} cra ms adie : weet elie merger Noe ce ee oe e f 1996 > 1998 > 2000’ 2002’ 2004'S 2006 > 2008 2010 2012 > 2014 2016 2

  17. Slide 17: Framing Sky Harbour's Peer Set

    FRAMING SKY HARBOUR'S PEER SET Industrial RealEstate Pubile Storage @® CuseSmart self storage TERRENO Su SJ) @lifestorage FIKF [MREIC] 3 4 Storage / \ (Skyl larbour| \ ] aga \ / IRE arissnrie Silt a Seis ame Cava SHELTAIR) Ross AVIATION

  18. Slide 18: Sky Harbour - Physical Offering

    SKY HARBOUR - PHYSICAL OFFERING Total Privacy. Uncompromising Quality. Full Suite of Features. + Unparalleled Ownership Experience + Generous Technical Features + Tena ich Hanger + NoFeam Fe Supression nase Are Acces + apolume A Ceclstion and Homi Cont Paste te + thoes Cystine Danae Fling + Dat Land

  19. Slide 19: Sky Harbour - Service Offering

    SKY HARBOUR - SERVICE OFFERING * Aircraft Towing + Aircraft Fueling * Potable Water + Ice + Lavatory Service 24/7 On-Demand Service Dedicated * Baggage Handling Exclusively to Sky Harbour Tenants * DC Ground Power + Cleaning No Competition with Transient Traffic + Smart Hangar app Remote Monitoring

  20. Slide 20: Business Overview

    BUSINESS OVERVIEW

  21. Slide 21: Building the Sky Harbour Portfolio

    BUILDING THE SKY HARBOUR PORTFOLIO 1+ Tag Deopman Cost: $2001 1 Tae Arage Aru Rent: 5288? 1 Tage NOL Yl 12 need eat and stopped ese ators roe igh qty tert inches cpio, hate epetr, Freeones nd goverment eres pny, stan sin, pce tg vr etn in ‘Costs dene wah scale anda enginetingatances Easy ipemertaion

  22. Slide 22: Advantages to Sky Harbour Tenants

    ADVANTAGES TO SKY HARBOUR TENANTS. Exclusive Space embers nove compemic on pstning and ver pak catsi> Hangar Rash Virualy Eliminated Ail sc moved when node ad i cy ane by th cated an cate Shy Haru ne onic Security Shy Hitlr martes andthe Fgh Doparmets contol acess and mantra att though the Shy Huber

  23. Slide 23: Advantages to Our Airport Partners (Sponsors)

    ADVANTAGES TO OUR AIRPORT PARTNERS (SPONSORS) @ Direct Revenue + Ad Valorem tax receipts + Alltenants ate based aircraft + Typicaltenant is a newer and larger arcrat © Low Impact + Minimal to negative contribution to airport noise footprint + Minimal to negative contribution to environmental footpri

  24. Slide 24: Initially Targeting 50+ Airfields

    INITIALLY TARGETING 50+ AIRFIELDS Initial target airfields represent less than 2% of US NPIAS airfields + 50 sites targeted + First 20 sites financed by merger proceeds and bond issuance + Ssites currently in development

  25. Slide 25: Well-Positioned to Capture Future Business Opportunities

    WELL-POSITIONED TO CAPTURE FUTURE BUSINESS OPPORTUNITIES ‘Sky Harbour is the logical partner for emerging Air Emerging Non-Traditional Aviation Infrastructure Users FedEx. EZR 2,01 Mobility and Logistics players - manned and unmanned + Emerging UAM and drone logistics aircraft will Ikely require acc

  26. Slide 26: Sky Harbour

    SkyHarbour AVIATION © INFRASTRUCTURE © REAL ESTATE

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