Volatus Aerospace : Q1 26 Earnings call

About this update from Volatus Aerospace Inc.

1 3 REVENUE GROSS MARGIN WORKING CAPITAL CASH 01 FINANCIAL Q1 2026 JAN — MAR Deliveries now ›r”+/ei“ “/ y as supply chain normalizes i'!" 5*»'.*".-"‹ TENPORARRYEVENU£ TINING IMPACT, Defence-related deliveries shifted from into i?. ° ,. ‘ ! r.r°. %or/.-”‹ *-•' supply chain constraints Contracts remain ‹s«'.».‹c and intact FY2O26 GROWTH OUTLOOK UNCHANGED Contracts remain active. Demand remains strong. FY2026 growth outlook :lili:“.it i°.g:.«• 6 INVESTING IN SCALE: UNDERSTANDING OUR COST STRUCTURE AD JU ST E D EB IT DA R EC ON CI LI AT I ON Q1 2026 Q1 2025 WH AT IS D RI VI N G TH E I NV ES TM EN T $ Marketing & Brand +$353K YoY Net Loss (6.6M) (4.3M) Add: Depreciation +1.45M +1.50M Add: Interest +1.01M +0.65M Add: Share-based pay +0.38M +0.17M Add: R&D Investment +0.29M +0.01M Add: FX & Other +0.31M +0.06M Adjusted EBITDA Loss (3.1M) (1.9M) TSX graduation & defence sector positioning Travel & Engagement +$205K YoY NATO/allied government procurement engagement External Partners +$567K YoY Business development & specialist capability R&D Investment +$278K YoY V-Cortex AI, Condor XL — excluded from Adj. EBITDA Defence Talent +$289K YoY Targeted hiring for defence & technical workforce ↑ 7 PATH TO BREAKEVEN: Revenue-driven, not cost-cut driven. Defence pipeline conversion through H2 2026 expected to progressively improve Adjusted EBITDA. Growth-stage investment spend normalizing relative to a scaling revenue base. -t.IB!/I working capital EDC covenant r«(;I',/«-! Base shelf cxci.I':t„ TSX gradUation c‹›!*zy1z•zci DlSCiPLINED CAPITAL DEPLOYMENT STRATEGIC PROSRESS ACROSS CAPABILITY PLATFORM B@llding an integrated sovereign platform delivering long term defence and aerospace value. MOMENTUM Advanced activation to scale p ro duction capability. Launcnea SKYDRA' M . our Al-powered sovereign ISR platform ADVISORY BOARD Strengthened governance ana expertise to support our strategic direction t /p t// Strong progress on NAT0-related contracts and partnersh! Ds. Deepened alignment with Canada's Defence|ndusña Strategy priorities. Successfully graduated to tne TSX, srengthening visaDility dnd access GRADUATION ALIGNMENT SOVEREIGN ACTIVATION LAUNCH DEFE8&E TSX DIS NAT0 CONTRACT EXPANDED SKYDRA TM MANOFACTURING GROWING 10 ADVAECIES PROPRIETARY PLATFORMS ,-“,—. . ". SEflTIflEL DOCK ° First production unit completed OCC integration : SaaS platform launched Early customer onboarding Recurring revenue model i V-CORTEX" AI Unified autonomy architecture Multi-platform integration ' Scalable mission systems framework ° Autonomous deplOyment infrastructure V10O ISR PLATFORU ' Long-endurance ISR capability Manufacturing preparation underway Defence market positioning 12 0UTL00hAND Execute NAT0-aligned contracts ' ‹' Scale Mirabel manufacturing capability •”**> ’* “ Commerci ” ali ” ze SKYDRA TM and V-Cortex TM ” - ‹ . ' . ' , Advance proprietary platforms ° Expand defence and infrastructure operations “”..-”””“‘, .•”. .. ›i Drive revenue growth and margin expansion . . . 13 14 Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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