Surf Air Mobility Inc. · NYSE:SRFM
Surf Air Mobility — Investor Presentation (November 2024)
22 slides from Surf Air Mobility's investor presentation, Nov 14, 2024
Slide 1: Investor Presentation: Transforming regional flying
INVESTOR PRESENTATION nam ™OQ@® Transforming regional flying SURFAIR MOBILITY
Slide 2: Disclaimer: Forward Looking Statements
DISCLAIMER Forward Looking Statements This presentation contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits of the transaction, Surf Air Mobility’ ability to anticipate the future need
Slide 3: We are building the air mobility platform that will transform regional flying
SURF AIR MOBILITY +0) OSes) We are building the air mobility platform that will transform regional flying NYSE: SRFM
Slide 4: November '24 Debt Transaction Overview
NOVEMBER ‘24 DEBT TRANSACTION OVERVIEW Surf Air Mobility secured new $50 million financing to fund transformation plan and path to profitability S50M Term loan with Comvest Partners A multi-billion-dollar investment management firm IMMEDIATE BENEFITS + Addresses near-term liquidity constraints + Lar
Slide 5: Structural Change
STRUCTURAL CHANGE Recent improvements have significantly reduced cash requirements and improved stock technicals IMPROVEMENTS | Strengthened balance sheet Level set stock technicals Substantially | lowered costs STATUS Vv Vv £< v IN PROGRESS IN PROGRESS DETAILS Addressing $70M of past liabilities wi
Slide 6: Surf Air Mobility by the Numbers
SURF AIR MOBILITY BY THE NUMBERS We are the largest commuter airline by scheduled departures and are developing category-defining software for the industry with Palantir @ SOUTHERN SURFAIR $112.9M Total pro forma FY23 revenue SCHEDULED? 404K+ Passengers flown in 2023 ~71K Total scheduled departures
Slide 7: Surf Air Mobility Overview
SURF AIR MOBILITY OVERVIEW Two complementary business units combine to scale regional air mobility SURFAIR MOBILITY AIR MOBILITY —=-——_ ri: SCHEDULED ON-DEMAND AIR SERVICE Established regional air mobility platform providing scheduled service and an on-demand marketplace to passengers in the U.S. an
Slide 8: 4-Phase Transformation Overview
4-PHASE TRANSFORMATION OVERVIEW PHASE 1 2024 Transformation Vv Improved capital structure </ Strengthened balance sheet 4 New management in place J Realized M&A synergies
Slide 9: Business overview
SURF AIR MOBILITY Business overview
Slide 10: Market Opportunity
MARKET OPPORTUNITY The beginning of a massive growth industry Our position as the largest commuter airline will enable our platform to accelerate the growth and adoption of a new form of regional air mobility (‘RAM’). 4. 2035 TAM Source: Canaccord Equity Coverage Initiation Research Report 2. Based
Slide 11: Scheduled Air Service
SCHEDULED AIR SERVICE We've flown millions of passenger over millions of miles MAINLAND U.S. & HAWAII (Sane) Sem) SH op =) ened URE AIR MUeICAT +. FY25 non GAAP; pro forma consolidation of Air Moblity and Ar Technology 2, Aircraft fleet consists of 42 Cessna Caravans, 8 Pilatus PCi2s, 3 Tecnams, and
Slide 12: Scheduled Air Service: Hawaii Highlight
SCHEDULED AIR SERVICE: HAWAII HIGHLIGHT Our robust network in Hawaii demonstrates the potential of regional air mobility MOKULELE ADVANTAGES + Largest interisland commuter airline + Little airline competition and no driving alternative + Consistent, local customer base of repeat fliers + Accessible
Slide 13: Scheduled Air Service: Essential Air Service (EAS) Highlight
SCHEDULED AIR SERVICE: ESSENTIAL AIR SERVICE (EAS) HIGHLIGHT Recurring government contracts currently drive ~39% of total revenue’ EAS NETWORK 2. F¥23 is non-GAAP, pro forma 2. US. DOT Subsidized EAS reports (May 2023)
Slide 14: On Demand: Global on-demand charter operations
ON DEMAND Global on-demand charter operations DOMESTIC ON DEMAND ADVANTAGES + Asset-light marketplace + Focus on regional mobility with less supply constraints + $30B global TAM in 2023 for air charter services market with 5% CAGR (45% North America)” INTERNATIONAL 2. FY33Is non-GAAP, pro forma 2. G
Slide 15: Joint Venture Strategy
JOINT VENTURE STRATEGY Ongoing evaluation of joint venture partnerships with industry leaders to pursue upside drivers in a more capital-efficient manner SURFAIR MOBILITY | | AIR MOBILITY AIR TECHNOLOGY Revenue inflows Revenue inflows from JV from JV JOINT VENTURE 1 JOINT VENTURE 2 JOINT VENTURE 3 J
Slide 16: Upside Driver: Surf OS Software
UPSIDE DRIVER: SURF OS SOFTWARE We are developing an all-in-one software platform for the Advanced Air Mobility industry THE “OPERATING SYSTEM” FOR REGIONAL AVIATION Building the software platform to support the growth and operations of the Advanced Air Mobility industry POWERED BY PALANTIR’S Al PLA
Slide 17: Upside Driver: Electrification Strategy
UPSIDE DRIVER: ELECTRIFICATION STRATEGY (Am TEcHNoLogy Our multi-pronged strategy will significantly improve unit economics and create new potential revenue streams DEPLOY BEST-IN-CLASS ELECTRIC AIRCRAFT ACROSS OUR NETWORK 4 Reduce operating costs and expand margins on our airline operations by depl
Slide 18: Unprecedented Commercial Relationships
UNPRECEDENTED COMMERCIAL RELATIONSHIPS Our leading position has enabled us to secure commercial relationships with industry-leading companies across the value chain LEADING GENERAL AVIATION MANUFACTURER yy, "4 Cessna BY TEXTRON AVIATION + Exclusive agreement to support electrification of Cessna Gran
Slide 19: Management Team
MANAGEMENT TEAM DEANNA WHITE CEO and COO © + Joined Surf Air in 2021 + 20+ years of experience in the aerospace industry + Previously served as the CFO of Surf Air, COO of Wisk, and CEO and CFO of Bombardier Flexjet LIAM FAYED Co-Founder, Chief Brand & Experience Officer + Co-founded Surf Airin 2013
Slide 20: Management Team
MANAGEMENT TEAM THOMAS ANDINO : KEN BIELER EVP of Technical Operations & f/ | VP of Safety & Regulatory Director of Maintenance Compliance + Joined Surf Air in 2024 + Joined Surf Air in 2021 + Previously with Aero, Spirit Airlines, Virgin American, + Formerly with Wisk, Virgin America, United Airlin
Slide 21: Board of Directors
BOARD OF DIRECTORS CARL ALBERT TY BLAND JOHN D’AGOSTINO BRUCE HACK 4 + Chairman and CEO of Fairchild . + Managing Partner at N + Senior Advisor at tt + Founder and CEO of Venture Capital Corporation, Porter Tellus, LLC Coinbase Institutional BLH Venture, LLC Fairchild Aircraft and Fairchild + Head o
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