Slide 1: flyExclusive, Inc. Q2 2026 Earnings Review
flyExclusive, Inc. Q2 2026 Earnings Review August 12, 2026 1
Slide 2: Disclaimers & Other Important Information
DISCLAIMERS & OTHER IMPORTANT INFORMATION FORWARD-LOOKING INFORMATION. This Presentation contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to flyExclusive the products and services offered by flyExclusive and the markets in which it opera
Slide 3: Q2 2026 Highlights
Structurally Q2 2026 Improved Model +8% growth in flight hours with 6% fewer A/C HIGHLIGHTS Sustained growth across MRO & fractional categories +52% YoY growth in MRO +1,013 bps increase in dispatch availability vs. Q2 2025 I. EXECUTIVE SUMMARY Adjusted EBITDA Strengthened Inflection Balance Sheet $
Slide 4: Who We Are
WHO WE ARE Trusted partner in private jet travel, providing our clients with curated jet experiences that anticipate their needs for flexibility, comfort, and style World-class private aviation company providing a reliable travel experience and exclusive customer benefits Product suite serves range
Slide 5: Industry Tailwinds Increasing TAM
INDUSTRY TAILWINDS INCREASING TAM flyExclusive well-positioned to benefit and capture market share Private Aviation Industry is expected to reach $67B by 2032 Industry Drivers: Headwinds in Commercial Aviation Landscape shift in Air Travel from Reinstatement of Corporate Private Growing HNW Cohort D
Slide 6: Company Market Share
COMPANY MARKET SHARE Grown to 5th largest U.S. operator in ten years capturing market share in a fragmented market 2025 Top U.S. Private Jet Operators(1) 2025 Top Operators in North America(2) Sky Night Interiors MRO Repair Center 1st Challenger 350 Starlink Dealership 1Q 20 4Q 20 3Q 21 2Q 23 2Q 24
Slide 7: Our Scope and Scale
OUR SCOPE AND SCALE Floating fleet model with 100% operational control Operations Overview Headquartered in Kinston, North Carolina Floating fleet of approximately 80 light, mid, and super-mid aircraft Operations centrally located within two flight hours of approximately 100% Operational Con
Slide 8: Our Products and Services
OUR PRODUCTS AND SERVICES Multi-product approach to meet and serve varying client needs and preferences Contractually Committed Demand JetClub Fractional Partnership Wholesale • Subscription-based model with • Customer owns share of aircraft • 25-95% ownership of aircraft • Most flexible offerings s
Slide 9: Charter Flight Revenue Mix
CHARTER FLIGHT REVENUE MIX Evolution to diversified mix and recurring committed revenue 2020 2021 2022 2023 2024 2025 Long-Term Goal 5% 8% 7% 8% 5% 9% 6% 4% 2% 8% 20% 18% 30% 24% 29% 26% 10% 91% 73% 68% 61% 63% 51% 32% 40% Wholesale JetClub Partner Fractional Contractually Committed & Recurring Dema
Slide 10: Vertical Integration - MRO
VERTICAL INTEGRATION - MRO Maintenance & Repair (MRO) Continued Investment in State-of-the-Art Facilities and Capabilities Fly Exclusive MRO Part 145 Repair Station – 180+ techs in Kinston, NC 104,000 sq ft Six dedicated hangars incorporating state of art facility electrostatic paint facility –
Slide 11: Q2 2026 Performance
Q2 2026 PERFORMANCE I. EXECUTIVE SUMMARY 11
Slide 12: Q2 2026 Performance at a Glance
Q2 2026 PERFORMANCE AT A GLANCE 20% (1) Fleet Refresh and Continually Improving Operating Efficiencies leading to top- and bottom-line records Revenue Gross Profit & Margin Charter Fractional Sales MRO +22% +65% +20% in flight revenue $ 111.1 $ 91.3 +51% in fractional revenue +52% in MRO revenue $ 2
Slide 13: Q2 2026 Performance at a Glance
Q2 2026 (1) PERFORMANCE AT A GLANCE Fleet Refresh and Continually Improving Operating Efficiencies leading to top- and bottom-line records Adjusted EBITDA (2) Adjusted EBITDAR (2) $9.4M improvement in Adjusted EBITDA compared to Q2 2025 $ 7.8 +954 basis point improvement in $ 4.2 Adjusted EBITDA mar
Slide 14: Quarterly Performance at a Glance
QUARTERLY PERFORMANCE AT A GLANCE Sequential quarterly improvement in Adjusted EBITDA (in millions) / qtr ent ~$2.5M BITDA improvem dj. E Average A $ 6.6 $ 4.2 $ 0.2 $ (1.9) $ (6.4) $ (5.2) $ (7.8) $ (13.0) $ (16.0) $ (19.4) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26E 4Q26E (1) Consolida
Slide 15: Profitable Growth Roadmap
PROFITABLE GROWTH ROADMAP Fleet Refresh and Continually Improving Operating Efficiencies leading to top- and bottom-line gains ACQUISITION OPPORTUNITIES 12%+ COST REDUCTION INITIATIVES 3.0 – 4.0% IMPROVED EFFICIENCY 2.0 – 3.0% 3.0 – GROWTH INITIATIVES 6.0% 3.0 – Adj. EBITDA Q2 2026 Adj. 4.0% margin
Slide 16: Fleet Refresh Execution
FLEET REFRESH EXECUTION... Eliminated 32 non-performing aircraft Non-Performing Aircraft 40 37 35 1 non-performing aircraft disposed during Q2 2026 30 25 Operating loss reduced to <$300K per 20 month from over $3M monthly at 15 beginning of 2024 10 5 All remaining under contract to be sold 5 0 2Q25
Slide 17: Operational Efficiency Gains
OPERATIONAL EFFICIENCY GAINS Fleet Refresh and operational improvements resulting in improved utilization and more efficient fleet Dispatch Availability +1,013 bps +21% improvement in availability across the fleet 14 MSU trucks deployed in strategic geographic regions with planned expansion to 30+ t
Slide 18: Leads to Improved Utilization
…LEADS TO IMPROVED UTILIZATION Fleet Refresh resulting in improved utilization and more efficient fleet Aircraft Generating Revenue Flight Hours Core CoreFleet FleetA/C A/CUtility Utility(2) (6%) +8% +14% 81 6% reduction in fleet size 20,040 +8% increase in flight hours 86 72 18,608 +14% increase in
Slide 19: Q2 2026 Performance at a Glance
Q2 2026 (1) PERFORMANCE AT A GLANCE Improved SG&A operational leverage SG&A % of Revenue (2) Flight Hours per SG&A Headcount Revenue per SG&A Headcount (217 bps) (1%) +12% 22% $ 529,164 96 95 20% $ 470,780 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 (1) Consolidated results of flyExclusive, Inc. for the three-mon
Slide 20: Q2 2026 Performance at a Glance
Q2 2026 (1) PERFORMANCE AT A GLANCE Retail Customer and Sales Performance (in millions) Retail Members (2) Retail Sales – Jet Club Retail Sales - Fractional +5% +13% +34% $ 15 952 997 $ 30 $ 11 $ 27 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 (1) Consolidated results of flyExclusive, Inc. for the three-month peri
Slide 21: 1H 2026 Performance
1H 2026 PERFORMANCE I. EXECUTIVE SUMMARY 21
Slide 22: 1H 2026 Performance at a Glance
1H 2026 (1) PERFORMANCE AT A GLANCE Fleet Refresh and Continually Improving Operating Efficiencies leading to top- and bottom-line gains Revenue Gross Profit & Margin Charter Fractional Sales MRO +15% +67% +15% in flight revenue $ 207.5 +29% in fractional revenue $ 179.5 +38% in MRO revenue $ 159.0
Slide 23: 1H 2026 Performance at a Glance
1H 2026 (1) PERFORMANCE AT A GLANCE Fleet Refresh and Continually Improving Operating Efficiencies leading to top- and bottom-line gains Adjusted EBITDA (2) Adjusted EBITDAR (2) +$16M +$13.6M +1076 basis point improvement in $ 12.3 Adjusted EBITDA margin $ 4.4 $ $ (1.3) +45% increase in GM% driven b
Slide 24: Operational Efficiency Gains
OPERATIONAL EFFICIENCY GAINS Fleet Refresh resulting in improved utilization and more efficient fleet Dispatch Availability +884 bps +18% improvement in availability across the fleet 14 MSU truck deployed resulting in 50% costs savings compared to external MSU 57.4% providers 48.6% 45.1% Each 1% imp
Slide 25: Leads to Improved Utilization
…LEADS TO IMPROVED UTILIZATION Fleet Refresh resulting in improved utilization and more efficient fleet Aircraft Generating Revenue Flight Hours Core CoreFleet FleetA/C A/CUtility Utility(2) 5% reduction in fleet size (5%) +7% +15% +7% increase in 78 aircraft utilization on core fleet due to a more
Slide 26: YTD 2026 Performance at a Glance
YTD 2026 (1) PERFORMANCE AT A GLANCE Improved SG&A operational leverage SG&A % of Revenue (2) Flight Hours per SG&A Headcount Revenue per SG&A Headcount (501 bps) +3% +11% 29% 188 $ 1,012,069 23% 182 $ 910,948 18% $ 668,474 138 1H24 1H25 1H26 1H24 1H25 1H26 1H24 1H25 1H26 (1) Consolidated results of
Slide 27: YTD 2026 Performance at a Glance
YTD 2026 (1) PERFORMANCE AT A GLANCE Retail Customer and Sales Performance (in millions) Retail Members (2) Retail Sales – Jet Club Retail Sales - Fractional +7% +1% +29% $ 29 $ 55 $ 56 1,148 1,077 816 $ 44 $ 22 $ 14 1H24 1H25 1H26 1H24 1H25 1H26 1H24 1H25 1H26 (1) Consolidated results of flyExclusi
Slide 28: Strengthened Balance Sheet
STRENGTHENED BALANCE SHEET Aggressive de-leveraging of the balance sheet while maintaining liquidity (in millions) Long-Term Notes Payable (2) Cash (8)% $94 million reduction in long-term notes payable since 2024 $232.5 $ 15.8 $ 14.3 $ 7.8 $150.3 $137.9 1H24 1H25 1H26 2Q24 2Q25 2Q26 (1) Consolidated
Slide 29: Appendix
APPENDIX I. EXECUTIVE SUMMARY 29
Slide 30: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION EBITDA, Adjusted EBITDA, and Adjusted EBITDAR (1)(2) (1) Consolidated results of flyExclusive, Inc. for the three- and six-month period ending June 30, 2026. (2) EBITDA is a performance measure that is calculated by taking net income and excluding interest, income taxes, and