Vertical Aerospace Ltd. · NYSE:EVTL
Vertical Aerospace — SPAC Merger (June 2021)
51 slides from Vertical Aerospace's SPAC merger presentation, Jun 11, 2021
Slide 1: Vertical Aerospace Investor Presentation
VERTICAL. INVESTO
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER
Slide 3: Vertical Aerospace and Broadstone Business Combination Summary
INTRODUCTION VERTICAL AEROSPACE AND BROADSTONE BUSINESS COMBINATION SUMMARY TRANSACTION STRUCTURE VALUATION CAPITAL STRUCTURE Papose = The Tansacten sepecedto dose 04202 Post ccang Vertcat be latedon the NYSE whe er symbal"EVTL™ = Fy ted proforma ety vate of 52 Zon anda pofoma ntapis abe of Seon + 0
Slide 4: Vertical Aerospace and Broadstone: A Proven Track Record
VERTICAL AEROSPACE AND BROADSTONE A PROVEN TRACK RECORD OF DISRUPTING MAJOR INDUSTRIES HUGH OSMOND = 25+ yeas ctvarcaetonstotatng ove 8000 + Datverese fd and eqaty mt of 35 STEPHEN FITZPATRICK FOUNDER 6 CEO + Lama ee enetpan » ~ Funder of O10 Eres. Europe's est ndependert ey tater wth over Stn rever
Slide 5: Why Invest?
WHY INVEST? Strategy validated by suppliers and customers Fast route to scale production/at}ow capital cost Multiple routes to market - underpinned by pre-orders of up to 1,000 aircraft Seasoned veterans of the aerospace industry with 1,200+ years of experience and over 30 aircraft certified Attract
Slide 6: Aviation
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Slide 7: Why Now?
WHVEVAOL? re eroleqreneue ee WHY NOW? : :
Slide 8: A Revolutionary Customer Experience
A REVOLUTIONARY 100. 100. Ze(O ys* CUSTOMER EXPERIENCE sarca ouierer ‘emissions 7
Slide 9: Designed to Win
— ——— rai = i sme = @ 4 / at. DESIGNED CERTIFICATION OPERATING MoDEL GLOBAL EcosysTEM TO WIN
Slide 10: Backed by Global Leaders
BACKED BY GLOBAL LEADERS KEY STRATEGIC PARTNERS ARE ALSO INVESTORS. HE Microsoft | Mj Rolls-Royce Honeywell TECHNICAL Gh Ee G2" fe. | SE ce. AVOLONY American Airlines % COMMERCIAL $3 es 200" = investors foes
Slide 11: Exceptional Senior Team
s STEPHEN een) MICHAEL PAUL AIRBUS EDUARDO AIRBUS 3 FITZPATRICK ME ceevenca HARPER DOMINGUEZ HEAD OF CERTIFICATION wn cnr vinny STEVE Joeway TM ae ome CASEY ‘ACKROYD WILLIAMS El SAMSON vic ‘dyson uM MADHU TERRY SOMERVILLE Sccuo jy WAWeENCE meus BHABUTA El BLAKELEY EXCEPTIONAL SENIOR TEAM
Slide 12: Slide 12
Slide 13: Our Journey to Certification
OUR J NEY TO RTIFICATION
Slide 14: Technology Partnerships
TECHNOLOGY PARTNERSHIPS TECHNOLOGY PARTNERSHIPS COMBINED WITH INTERNAL EXPERTISE. A SOPHISTICATED EVTOL ECOSYSTEM THAT ALLOWS US TO FOCUS ON HIGHEST VALUE ADD | Ce ia a = Honeywell [BrotsRoyce BE Microsoft Ssoway ee AvOLONY SPECIALIST FLIGHT. PARTNERS CONTROLS POWERTRAIN DIGITAL COMPOSITES HARNESS L
Slide 15: Commercial
COMMERCIAL
Slide 16: Compelling Proposition
COMPELLING PROPOSITION
Slide 17: Multiple Routes to Market with Up to 1,000 Aircraft on Pre-order
Virgin atlantic UK American“ a Ai MULTIPLE ROUTES TO MARKET WITH UP TO 1,000 AIRCRAFT ON PRE-ORDER!
Slide 18: Commercial Partnership with American Airlines
COMMERCIAL PARTNERSHIP WITH AMERICAN AIRLINES
Slide 19: Commercial Partnership with Virgin Atlantic
COMMERCIAL PARTNERSHIP. =P atl ie WITH VIRGIN ATLANTIC VIFQIN atlantic
Slide 20: Commercial Partnership with Avolon
842 (vmed managed and rol committee seca $31bn a Total Asst sere _ col pay 146 Adee stoners oo COMMERCIAL PARTNERSHIP WITH AVOLON
Slide 21: Rapid Scaling of VA-X4
RAPID SCALING OF VA-x4 2 ASSET- LIGHT BUSINESS MODEL AND A FAST AND CLEAR PATH TO PROFITABILITY, DELIVERING A TARGET $1.48N EBITDA IN 2026
Slide 22: Key Capital Uses
KEY CAPITAL USES 2 CAPITAL USES ARE CONSERVATIVE AND HAVE BEEN BUILT IN CONJUNCTION WITH PARTNER ECOSYSTEM Phase VA-Xa Design & Certication Program ‘Vertical Aerospace 2021-2024 Anicpated Phas: stat of the Art Assembly Facty (2021-2024) ‘ey Copal Uses (Sn) (2023-2024) eveop an ater capable cretion =
Slide 23: The Point of Inflection Is Now; Strategy Is De-risked
REVOLUTION THE POINT OF INFLECTIONIS NOW STRATEGY IS DE-RISKED (ug Team pawruens ane IS HAPPENING
Slide 24: VX4
vVX-VA P20
Slide 25: Design Philosophy: Focus on Certifiable, Flexible Application
DESIGN FOCUS ON WHAT IS. FOCUS ON FLEXIBILITY PHILOSOPHY CERTIFIABLE OF APPLICATION
Slide 26: Vertical
NERTICAL
Slide 27: Slide 27
Slide 28: Slide 28
Slide 29: Key Technologies & Production
KEY TECHNOLOGIES & PRODUCTION
Slide 30: Superior Technology
SUPERIOR TECHNOLOGY Low noise, zero emissions and certified to the same safety standards as commercial aliners ADVANCED ROTORS, etnaney nes ft sie oe sin yc aA ie acar heketr y verricat POWERTRAIN PROPRIETARY BATTERY SYSTEM ert a “avi ater 20h gone aed ete gest ‘ott Staraoas ate dieters venticn NEXT
Slide 31: Low Noise
Low woise
Slide 32: Advanced Rotors
ADVANCED ROTORS KEY ENABLER OF A SAFE, QUIET, EFFICIENT AND ROBUST AIRCRAFT ‘cemganesenbotha su anatuescale RICHARD ALEXANDER VERTICAL ‘oreradeannaisaara ‘smn ste
Slide 33: Proprietary Battery System
PROPRIETARY BAT TERY SYSTIEM BEST IN CLASS BATTERY AND CELL COMPONENTS, srtarly devdcpe battery stam lvrogng best dass tatty ancl components tot wephtandavetnt “Tesingongong sce 208 EASA and CAA winessdcash a hema away ets (Mh 2020) tay te andcontanmanttetng Vera, <ooig abate el decanting cae iy Mat
Slide 34: Powertrain
POWERTRAIN THE WORLO’S LIGHTEST AND SAFEST
Slide 35: Next Generation Flight Controls
NEXT GENERATION PLIGHT CONTROLS DRASTICALLY REDUCE PILOT WORKLOAD contol ystems None fama and sae the rt oct HM
Slide 36: Digital: Opening Adjacent Markets
DIGITAL OPENING ADJACENT MARKETS Lite me poer tb tanec pomeed by Most ecogy Suh as Thu nals Vera ler sahate dl nahistr both ox astomers nd cubes Cting or ata soues nserver scat company ast and Spay sytens bows Vso free a wea of series hese man ae2s Vehie Opratons let Maropementinfsty 40 and Buses hl
Slide 37: Fast, Low Cost Production Ramp Up
2021 2022 ‘nd 2023 2024 4¢ 2025 2026 af =| >=] [Sad [r=] Eee FAST, LOW COST PRODUCTION RAMP UP
Slide 38: Aviation
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Slide 39: a a c@®
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Slide 40: City Centre Shuttle
CITY CENTRE C80 SHUTTLE
Slide 41: A
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Slide 42: Example Markets
EXAMPLE MARKETS
Slide 43: Virgin Atlantic
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Slide 44: SLHOMHDIH
5.0 SLHOMHDIH WIDNVNIS
Slide 45: Business Plan
GTERM BUSINESS PLAN »
Slide 46: Transaction
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Slide 47: Overview of Transaction
OVERVIEW OF TRANSACTION ys TRANSACTION SUMMARY A soreeaeerae [NU | eee ae Copan oer starr so + easton tore 76a shares upon dose ProFoma Shares Otstandng? 7 5 she reece ty Vole s220 + etc ites eco 875ml hres an vests SZ ne PE eng fare 25m shares Bk = ‘Aon rece 6 nial shares ad nests Sismin tbe PPE re
Slide 48: Valuation Multiples in Perspective (2025E)
VALUATION MULTIPLES IN PERSPECTIVE i EV / 2025€ REVENUE EV / 2025€ aa tos EaITOA cee ORY nrc tm To Ge tam A. Voce WA taser eecoee
Slide 49: Valuation Multiples in Perspective (2026E)
VALUATION MULTIPLES IN PERSPECTIVE i | EV / 2026E REVENUE “* oer WR msi ease EV / 2026€ EBITOA ce Ey ca Ge To Se em Ut oe WR sie Boone
Slide 50: Urban Air Mobility - Financial Benchmarking
URBAN AIR MOBILITY - FINANCIAL BENCHMARKING s VERTICAL BUSINESS PLAN HAS THE POTENTIAL TO DELIVER FAR HIGHER RETURNS (ON CAPITAL EMPLOYED RELATIVE TO OTHER EVTOL PLAYERS. a. 82 oe eo it i nb
Slide 51: Vertical
INVESTOR DECK 2021 > VERTICAL