Surf Air Mobility Inc. · NYSE:SRFM
Surf Air Mobility — Q1 2025 Earnings Presentation
23 slides from Surf Air Mobility's earnings presentation, May 13, 2025
Slide 1: Transforming regional air mobility
I N V E S T O R P R E S E N TAT I O N 06.2025 Transforming regional air mobility NYSE: SRFM ©2025 SURF AIR MOBILITY
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act This presentation includes information that does not conform to GAAP and are considered non-GAAP financial of 199
Slide 3: We are building the air mobility platform that will transform regional flying
NYSE: SRFM SURF AIR MOBILITY We are building the air mobility platform that will transform regional flying ©2025 SURF AIR MOBILITY 3
Slide 4: Strategic Differentiators: Scale, Experience, Depth
S T R AT E G I C D I F F E R E N T I AT O R S W hy we are uniquely positioned to win in the Regional Air Mobility (‘RAM’) market Scale One of the largest regional commuter airlines in the U.S.1 flying over 330K passengers per year2 Experience Established operations and brand in a highly regulated in
Slide 5: Air Mobility Landscape
AIR MOBILITY LANDSCAPE While UAM currently lacks infrastructure and commercial airline traffic is overly concentrated, RAM leverages existing, underutilized regional airports. URBAN AIR MOBILITY REGIONAL AIR MOBILITY COMMERCIAL AIRLINES ~15-50 ~50-500 500+ MILES MILES MILES P O I N T-T O - P O I N T
Slide 6: Market Opportunity
M A R K E T O P P O RT U N I T Y Regional Air Mobility will experience transformational growth over the next decade “Innovative propulsion… could usher in a new era of frequent, $75B - $115B 1 convenient passenger flights on small regional aircraft.” Global regional mobility market by 2035 M c K i n
Slide 7: Surf Air Mobility Overview
SURF AIR MOBILIT Y OVERVIEW Two complementary business units combine to scale regional air mobility AIR MOBILITY AIR TECHNOLOGY S C H E D U L E D On-demand s o f t wa r e E L EC T R I F I E D P ow e rt r a i n Air Service Technology Established regional air mobility platform providing Innovators in
Slide 8: Surf Air Mobility by the Numbers
SURF AIR MOBILITY BY THE NUMBERS We are one of the largest commuter airlines by scheduled departures and we are developing category-defining software for the industry with Palantir NYSE: SRFM $112M T O TA L R E V E N U E LT M 2 0 2 5 1 TOP 5 SHAREHOLDERS 4 SCHEDULED O N DE M A N D C H A RT E R ~18%
Slide 9: Phase Transformation Overview
4 - P H A S E T R A N S F O R M AT I O N O V E R V I E W PHASE 1 PHASE 2 PHASE 3 PHASE 4 2024 2025 - 2026 2026 - 2027 2027+ Transformation Optimization Expansion Acceleration Improved capital structure Optimize airline operations Deploy SurfOS to third-parties Deploy electric aircraft Strengthened b
Slide 10: Transformation Plan Progress Highlights [1]
T R A N S F O R M AT I O N P L A N P R O G R E S S H I G H L I G H T S [ 1 ] KEY ACHIEVEMENTS 4 PHASES We continue to make strong progress on our 4-phase Transformation Plan Transformatio Secured a new $50M term loan from Comvest Partners Optimizatio Extended the maturity of the Company’s secured de
Slide 11: Transformation Plan Progress Highlights [2]
T R A N S F O R M AT I O N P L A N P R O G R E S S H I G H L I G H T S [ 2 ] KEY ACHIEVEMENTS 4 PHASES We continue to make strong progress on our 4-phase Transformation Plan Transformatio Executed components of our re-fleeting plan, including the removal of inefficient Optimizatio and costly aircraf
Slide 12: Business overview
NYSE: SRFM SURF AIR MOBILITY Business overview ©2025 SURF AIR MOBILITY 12
Slide 13: We've flown millions of passengers over millions of miles
SCHEDULED AIR SERVICE AIR MOBILITY We’ve flown millions of passengers over millions of miles M A I N L A N D u . s . & H AWA I I I N T E R L I N E PA RT N E R T O TA L S C H E D U L E D LT M 2 0 2 5 1 DISTRIBUTION 50 LT M 2 0 2 5 1 AIRCRAFT 2 ~430M 3 ~$86M Cumulative annual Revenue passengers flying
Slide 14: Our robust network in Hawaii demonstrates the potential of regional air mobility
S C H E D U L E D A I R S E RV I C E : H AWA I I H I G H L I G H T AIR MOBILITY Our robust network in Hawaii demonstrates the potential of regional air mobility 9 1 H AWA I I O P E R AT I O N S LT M 2 0 2 5 H AWA I I N E T W O R K A I R P O RTS 11 ~$33M O ’A H U ROUTES M O L O K A’ I Revenue from Ha
Slide 15: Recurring government contracts currently drive ~43% of total revenue
Scheduled air service: ESSENTIAL AIR SERVICE (E AS) HIGHLIGHT AIR MOBILITY Recurring government contracts currently drive ~43% of total revenue1 EAS NETWORK LT M 2 0 2 5 1 EAS NETWORK ~$49M 19 3.4 yrs EAS subsidy revenue EAS communities avg length of contract in network W H AT I S E A S Created by C
Slide 16: Global on-demand charter operations
on demand AIR MOBILIT Y Global on-demand charter operations DOMESTIC ON DEMAND LTM 2025 1 ~$27M Revenue 3,229 Departures 18% 3 ON DEMAND ADVANTAGES INTERNATIONAL YoY revenue growth Asset-light marketplac Focus on regional mobility with less supply constraint $138B TAM for global charter air transpor
Slide 17: Ongoing evaluation of new venture partnerships with industry leaders
N E W V E N T U R E S T R AT E G Y Ongoing evaluation of new venture partnerships with industry leaders to pursue upside drivers in a more capital-efficient manner RECENT ACHIEVEMENT Surf Air Mobility entered into an agreement with Palantir Technologies, Inc. to form a new venture, AIR MOBILITY AIR
Slide 18: We are developing an all-in-one software platform for the Regional Air Mobility industry
U P S I D E D R I V E R : S U R F O S S O F T WA R E AIR TECHNOLOGIES We are developing an all-in-one software platform for the Regional Air Mobility industry T H E ‘ O P E R AT I N G S Y S T E M ’ F O R R E G I O N A L A V I AT I O N Building the software platform to support the growth and operatio
Slide 19: Our multi-pronged strategy is designed to significantly improve unit economics
U P S I D E D R I V E R : E L E C T R I F I C AT I O N S T R AT E G Y A I R T E C H N O LO G I E S Our multi-pronged strategy is designed to significantly improve unit economics and create new revenue streams D E P LOY B E S T- I N - C L A S S E L E C T R I C A I RC R A F T AC RO S S O U R N E T W O
Slide 20: Surf Air Mobility Management Team
MANAGEMENT TEAM Surf Air Mobility Management Team DEANNA WHITE Oliver Reeves Sudhin Shahani CEO and COO Chief Financial Officer Co-Founder Joined Surf Air in 202 Joined Surf Air in 202 Co-founded and served as CEO of Surf Air 20+ years of experience in the aerospace industr 10+ years of experience i
Slide 21: Surf Air Mobility Management Team
MANAGEMENT TEAM Surf Air Mobility Management Team B O B WA LT Z KEN BIELER VP of Flight Operations VP of Safety & Regulatory Compliance Joined Surf Air in 202 Joined Surf Air in 202 Previously with Sun Country Airlines, Southwest, Formerly with Wisk, Virgin America, and U.S. Air Force Reserv United
Slide 22: Board of Directors
BOARD OF DIRECTORS Surf Air Mobility Board of Directors C A R L A L B E RT TY BLAND J O H N D ’A G O S T I N O BRUCE HACK Chairman and CEO of Fairchild Managing Partner at Senior Advisor at Founder and CEO of Venture Capital Corporation, Porter Tellus, LL Coinbase Institutiona BLH Venture, LL Fairch
Slide 23: investors@surfair.com
©2025 SURF AIR MOBILITY I N V E S T O R S @ S U R FA I R . C O M I N V E S T O R S . S U R FA I R . C O M