#1flyexclusive N836 ANALYST DAY June 15, 2023#2DISCLAIMERS AND OTHER IMPORTANT INFORMATION This presentation (this "Presentation") is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential acquisition by EG Acquisition Corp ("EGGF") of LGM Enterprises, LLC and its affiliates, together doing business as "flyExclusive" (together "LGM Enterprises") and related transactions (the "Potential Business Combination") and a potential proposed private offering of public equity (the "PIPE Offering"), and for no other purpose. By reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. This Presentation and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the Potential Business Combination, the PIPE Offering or any related transactions, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. This Presentation does not constitute either advice or a recommendation regarding any securities. No representations or warranties, express or implied, are given in, or in respect of, this Presentation. This Presentation is subject to updating, completion, revision, verification and further amendment. None of EGGF, LGM Enterprises, BTIG, LLC ("BTIG") or their respective affiliates has authorized anyone to provide interested parties with additional or different information. No securities regulatory authority has expressed an opinion about the securities discussed in this Presentation and it is an offense to claim otherwise. Recipients of this Presentation are not to construe its contents, or any prior or subsequent communications from or with EGGF, LGM Enterprises, BTIG or their respective representatives, as investment, legal or tax advice. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of EGGF, LGM Enterprises, the Potential Business Combination or the PIPE Offering. Recipients of this Presentation should each make their own evaluation of EGGF, LGM Enterprises, the Potential Business Combination and the PIPE Offering and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. FORWARD LOOKING INFORMATION This Presentation (and oral statements regarding the subjects of this Presentation) contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to LGM Enterprises and the Potential Business Combination, including statements regarding the anticipated benefits of the Potential Business Combination, the anticipated timing of the Potential Business Combination, the products and services offered by LGM Enterprises and the markets in which it operates (including future market opportunities), LGM Enterprises' projected future results, future financial condition and performance and expected financial impacts of the Potential Business Combination (including future revenue, pro forma enterprise value and cash balance), the satisfaction of closing conditions to the Potential Business Combination, the PIPE Offering and the level of redemptions of EGGF's public stockholders, and LGM Enterprises' expectations, intentions, strategies, assumptions or beliefs about future events, results of operations or performance or that do not solely relate to historical or current facts. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "scales," "representative of," "valuation," "potential," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Presentation, including but not limited to: (i) the risk that the Potential Business Combination and the PIPE Offering may not be completed in a timely manner or at all, which may adversely affect the price of EGGF's securities, (ii) the risk that the Potential Business Combination may not be completed by EGGF's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by EGGF, (iii) the failure to satisfy the conditions to the consummation of the Potential Business Combination, including the approval of the business combination agreement by the stockholders of EGGF, the satisfaction of the minimum trust account amount following any redemptions by EGGF's public stockholders (if applicable), and the receipt of certain governmental and regulatory approvals, (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement, (v) the effect of the announcement or pendency of the Potential Business Combination on LGM Enterprises' business relationships, operating results, performance and business generally, (vi) risks that the Potential Business Combination disrupts current plans and operations of LGM Enterprises, (vii) the outcome of any legal proceedings that may be instituted against LGM Enterprises or EGGF related to the business combination agreement or the Potential Business Combination, (viii) the ability to maintain the listing of EGGF's securities on a national securities exchange, (ix) changes in the combined capital structure of LGM Enterprises and EGGF following the Potential Business Combination, (x) changes in the competitive industries and markets in which LGM Enterprises operates or plans to operate, (xi) changes in laws and regulations affecting LGM Enterprises' business, (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the Potential Business Combination, and identify and realize additional opportunities, (xiii) risks related to the uncertainty of LGM Enterprises' projected financial information, (xiv) risks related to LGM Enterprises' potential inability to achieve or maintain profitability and generate cash, (xv) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic, and their impact on LGM Enterprises, its business and markets in which it operates, (xvi) the potential inability of LGM Enterprises to manage growth effectively, (xvii) LGM Enterprises' customer concentration, (xviii) costs related to the Potential Business Combination and the failure to realize anticipated benefits of the Potential Business Combination or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions, and (xix) the ability to recruit, train and retain qualified personnel. The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of EGGF's prospectus filed with the U.S. Securities and Exchange Commission (the "SEC") on May 27, 2021, its Form 10-K filed on April 15, 2022, and other documents filed or to be filed with the SEC (including a registration statement on Form S-4 to be filed in connection with the Potential Business Combination), as well as the "Investor Presentation Summary Risk Factors" attached to this Presentation. flyexclusive 2#3FINANCIAL INFORMATION The financial and operating forecasts and projections contained in this Presentation represent certain estimates of LGM Enterprises as of the date thereof. LGM Enterprises' independent public accountants have not examined, reviewed or compiled the forecasts or projections and, accordingly, do not express an opinion or other form of assurance with respect thereto. These projections should not be relied upon as being indicative of future results. Furthermore, none of LGM Enterprises or its management team can give any assurance that the forecasts or projections contained herein accurately represents LGM Enterprises future operations or financial condition. The assumptions and estimates underlying such financial forecast information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of LGM Enterprises or that actual results will not differ materially from those presented in these materials. Some of the assumptions upon which the projections are based inevitably will not materialize and unanticipated events may occur that could affect results. Therefore, actual results achieved during the periods covered by the projections may vary and may vary materially from the projected results. Inclusion of the prospective financial information in this Presentation should not be regarded as a representation by any person that the results contained in the prospective financial information are indicative of future results or will be achieved. The financial information and data contained this Presentation are unaudited and do not conform to Regulation S-X promulgated by the SEC. Accordingly, such information and data may not be included in, may be adjusted in, or may be presented differently in, any registration statement, prospectus, proxy statement or other report or document to be filed or furnished by EGGF, or any other report or document to be filed by the combined company following completion of the Potential Business Combination, with the SEC. Any "pro forma" financial data included in this Presentation has not been prepared in accordance with Article 11 of Regulation S-X of the SEC, is presented for informational purposes only and may differ materially from the Regulation S-X compliant pro forma financial statements of LGM Enterprises to be included any filings with the SEC. INDUSTRY AND MARKET DATA This Presentation has been prepared by EGGF,LGM Enterprises and BTIG and includes market data and other statistical information from third-party industry publications and sources as well as from research reports prepared for other purposes. Although EGGF,LGM Enterprises and BTIG believe these third-party sources are reliable as of their respective dates, none of EGGF, LGM Enterprises, BTIG or any of their respective affiliates has independently verified the accuracy or completeness of this information and cannot assure you of the data's accuracy or completeness. Some data are also based on LGM Enterprises good faith estimates, which are derived from both internal sources and the third-party sources described above. None of EGGF, LGM Enterprises, BTIG, their respective affiliates, or their respective directors, officers, employees, members, partners, stockholders or agents make any representation or warranty with respect to the accuracy of such information. ADDITIONAL INFORMATION AND WHERE ΤΟ FIND IT In connection with the Potential Business Combination, EGGF intends to file relevant materials with the SEC, including proxy statement on Schedule 14A, referred to as a proxy statement. A proxy statement will be sent to all EGGF stockholders. EGGF will also file other documents regarding the proposed transaction with the SEC. Before making any voting or investment decision, investors and security holders of EGGF are urged to read the registration statement, the proxy statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by EGGF through the website maintained by the SEC at www.sec.gov. The documents filed by EGGF with the SEC also may be obtained free of charge upon written request to EG Acquisition Corp. 375 Park Avenue, 24th Floor, New York, NY 10152. flyexclusive 3#4ANALYST DAY 2023 – AGENDA 1:00 P.M. - WELCOME AND INTRODUCTION 1:05 P.M. - WHO WE ARE 2:00 P.M. BREAK 2:15 P.M. - FINANCIAL OVERVIEW 2:45 P.M. BREAK - 2:50 P.M. - HEAR FROM THOSE WHO EXECUTE 3:20 P.M. - Q&A CASON MADDISON, SVP JIM SEGRAVE, FOUNDER & CEO BRENT SMITH, CFO PANEL DISCUSSION flyexclusive 4#5PROPOSED TRANSACTION SUMMARY Overview flyExclusive (the "Company") is an established operator in the private aviation sector flyExclusive entered into an equity purchase agreement with EG Acquisition Corp. (NYSE:EGGF) on October 17, 2022 ▪ EG Acquisition Corp. is a Special Purpose Acquisition Company sponsored by EnTrust Global and GMF Capital that raised $225 million in its initial public offering on May 26, 2021 ▪ Transaction implies a pre-transaction equity value of $600 million(1) Capital Structure Anticipated transaction financing of up to $310 million, including $85 million of convertible notes and $225 million of SPAC cash held in trust(2) ■ ▪ Following the proposed transaction, flyExclusive is expected to be provided ~$295 million of cash(2), in addition to roughly $92.6 million current net cash balance ▪ Pro forma equity ownership percentage for the transaction (3): • 61.7% flyExclusive Shareholders 28.9% EGA Public Shares and Committed Convertible Notes • 9.4% Sponsor Shares ● Note: (1) flyExclusive currently has $249.6 million in debt and -$92.6 million of current cash and marketable securities on the balance sheet as of December 31st, 2022. (2) As of June 1, 2023, the trust currently has $43.3 million, reflecting current redemptions.. Total cash assumes flyExclusive equity holders do not exercise right to have repurchased up to $20 million of shares at closing at $10.00 per share (repurchase amount scales based on total cash in excess of $85 million per Equity Purchase Agreement)). (3) Pro forma equity ownership does not reflect 11.8 million of warrants outstanding at $11.50 per share. STELLE N833 flyexclusive 5#6flyexclusive explained flyexclusive#7WORLD-CLASS AVIATION PARTNERSHIP Decades of aviation experience and entrepreneurial excellence ADELTA McKinsey Jim Segrave CEO PRIVATE JETS Tommy Sowers President & Company GOLDENKEY REAL ESTATE THE Duke UNIVERSITY SA segrave aviation Brent Smith CFO NETJETS flyexclusive Experienced aviation entrepreneur and operator Built Segrave Aviation and sold to Delta Private Jets ✓ ✓ ✓ President of Delta Private Jets 2010 - 2013 ✓ Founded flyExclusive in 2015 ✓ Seasoned jet pilot with 10k+ flight hours Air Methods BC BODDE NOBLE PMIWWW.CAM Billy Barnard CBO Coopers &Lybrand GOVERNORS M Mike Guina COO ADELTA PRIVATE JETS SA Mad EG Acquisition Corp. Gregg Hymowitz CEO & Director En rust Global Goldman Sachs SMP CAPITAL Gary Fegel Chairman GLENCORE flyexclusive 7#8SPAC SPONSORSHIP Experienced sponsors with significant private-to-public / cross-over investment history, including specialized aviation knowledge En Drust Global + OXF GMF CAPITAL ▪ EnTrust Global has a substantial transportation real assets business and GMF has significant investment experience in logistics, aviation, and aviation technology ■ EG Acquisition Corp. 25+ year investment history with combined over $19 billion deployed to more than 250 investments across various industries and geographies ■ Ability to leverage global network of leading executives and entrepreneurs, including SPAC Sponsor Board member with a dedicated career in aviation who previously served as acting FAA Administrator Long-term commitment from Sponsor, with personal investments from both SPAC CEO and Chairman (3-year lock-up), who will each join the Board of Directors flyExclusive Meets the Sponsors' Targeted Criteria ✓ Established operating business with industry leading management team ✓ At a growth inflection point where public capital can accelerate clear expansion path ✓ Well-positioned to capitalize on favorable long-term secular tailwinds and growing addressable market ✓ Highly profitable business model with strong revenue visibility flyexclusive 8#9SPAC TRANSACTION Key points of differentiation Sponsor's Financial Stake Sponsor's Founder Share Lock Up Period Board Involvement EBITDA Positive Fully Funded Transaction Minimum Cash Condition 100% Initial $6.5M of SPAC IPO risk capital not syndicated and held 100% by ETG and GMF 3 YEARS Initial stockholders will not transfer, assign, or sell founder shares or warrants 2 SEATS Initial principals of the sponsors will serve on the flyExclusive board of directors 6 YEARS EBITDA positive since 2nd year of operation with 5 yr. EBITDA CAGR of 26% thru '24E $85M Senior Subordinated Convertible Notes sourced by sponsor to convert at close $0 No minimum cash condition – transaction will close regardless of additional capital flyexclusive 9#10GROWING TAM WITH FAVORABLE DYNAMICS A large, untapped user base with potential for meaningful adoption exists Industry Drivers Landscape Shift in Air Travel from Commercial to Private The pandemic accelerated sustained market growth as individuals sought safer flying options ■ Reduction in Commercial Aviation Capacity and Poor Performance Major airlines continue to operate less capacity Airlines continually trimming costs, causing a decline in customer experience and increase in dissatisfaction overall ■ I Reversed Corporate Trend of Cutting Executives Private Flights Previously cut corporate travel expenses now ubiquitously incurred due to health concerns and availability of travel options Growing Flight Optionality and Reduced Barriers Growth in the number and types of customer programs have resulted in lower barriers to access private aviation, expanding the TAM to include households with lower net worth I Source: Wall Street research. Private Aviation TAM by Household Net Worth ("HHNW") ▪ Potential TAM expected to grow to more than $43 billion driven by enhanced affordability, new customer segments, and increasing penetration in existing economic cohorts Potential TAM Growth -1.4x -$43 Billion $1.6 ■ -$32 Billion $1.1 $9.3 $3.4 ● $17.6 $14.2 $5.5 $22.0 HHNW $50 - $100 million HHNW $10-$50 million HHNW $5 - $10 million Corporate Use 2021 E 2025E McKinsey estimates that only ~10% of households that can afford private aviation (i.e., households with a net worth over $10 million+) use it Lower adoption level underscores the significant opportunity to increase share across private aviation's historical core markets flyexclusive 10#11COMPANY TIMELIME In seven years, flyExclusive has become the fifth largest operator 1,926 Operators Rank #1,926 2015 Sky Night Interiors 1Q 20 4Q 20 2020 Jet Club I 2Q 20 I Paint 2Q 21 2021 MRO (2) 3Q 21 Rank #5 Avionics 2Q 22 2022 Fractional 3Q 23 Source: Argus TRAQPak. (1) Per Federal Aviation Administration ("FAA") Part 135 certificate grants the authority to operate on-demand private charter services. Includes Part 135 and Part 91 Subpart K flight hours from 1/1/23-5/31/23. (2) NetJets includes flight hours from Executive Jet Management. (3) Maintenance, Repair and Operations (“MRO"). I Repair l Centerl 2Q 23 I Rank 1 2 3 4 5 LO 6 7 8 9 10 YTD 2023 Top U.S. Private Jet Operators (¹) Company NetJets(2) Flexjet Wheels Up Vista Global / XO Jet flyExclusive Jet Linx AirSprint Corporate Flight Management Solairus Aviation Executive AirShare Hours 210,818 71,812 45,398 24,589 22,155 12,151 11,747 9,797 8,790 8,086 flyexclusive 11#12COMPANY SIZE AND SCOPE "Floating Fleet" model with 100% operational control Headquartered in Kinston, North Carolina Currently, the Company has approximately 800 employees shington Montana Kinston, NC Headquarters 4Q 2022 Light Jet Activity Olle Operations Overview Mexico ▪ Fleet of 91 aircraft as of 4Q 2022 Operations centrally located within two flight hours of approximately 70% of the Company's flight demand JRC945 Aircraft Strategically Situated Closer to Demand KFWM CSEX 05/26 20.56 03/10 15:26 MRY C750 05/15 18:12 JRE403 KVNY GLPT 05/3832:59 N72515 ARE972 KBFI C750 05/11 0049 12/09 22:14 NEOLOL ATWF C750 07/06 22:03 RE/39 390 319 KSGU AMEY BREN67 -5 066X 08/15 15 43 AREA37 KOMA CSEE 05/02 15:52 SRED KMSP) C56X 98/25 03:00 IREDBY KSNA7 CAX 05/11 17:33 JRC957 INCE29 4500 466 1010302 RENA PRO KSDL KTRMING RE937 HOB COO (RE749 4300 387 KLUK KOU TRENS 410 408 KONT KAUS TRESS HEAT C750 04/03 20-12 JRE979 IRF53 KPWK CTS3 NCAN C 05/14 2337 05/14 12 RE646 450 341 KAPN KEEO URBIS KFTW 0258 05/10 20 46 05/01 19:46 1 RE792 KMNE C02 05/14 25 GREGIO 450 $35 NABE - KAPA SREBAT JREB30 400C 407 KFMYS KNE KVNY 05/01 22:50 PIREOLL KDAL CESC 03:15 00:36 N140 05/09 17:03 JRED40 4300 30 KMDL KLGC RE730 4034377 KOLT KOTS NASA/S ---CIEX 02/05 20.32 JRE821 IRE644 KAGC CSEX 05/15 1814 HE753 RE736 w czE WHPW COSE 05/0821 0 15 18:14 READ KEADS GLEE 05/14 20 07/08 01:18 FRENCS SREB63 MAD COEX KSWF C5EX 12/27 17/15/15 17 21 320 (RE467 420 RE KOAL MING KFBI C36X 05/15 05:00 JREYES KRC750 255/ ARCADE 430 455 RSGJ MMSL 05/1 RESSOR/24/17 38 450 426 KDWH KROC TREEKS RECHO So cate 15.92 KLEE KRO RETTO 435384 AF AFCM MAS 00150 04509/622149 KAPE 05/22 22:35 LF4 NETHE *** CE4 RE783 05/07/27.02 KSRQ C156 05/150223 BE791 APEM COSE 08/11 02 34 N70519 Tee CSS8 THESE (30 *BWC750 R/2317/28 KFIC C55X IRES NESCGO KSVAS 04/22 ISO... 04/08 20:56 04/17/31-32LFA 05/05 15:05 REGIS RE424 RED BLF o 12 st 45/15 16:15 RE93 QIF V187 KPEI RAFF /RE96) RE794 KAPF C258 05/160533 PRIOR KAYASSO JRE930 KMHT C650 05/15 17.29 APF KHYA RCELO KPBI C56K 02/22 20.47 05/05 00:49 IRE410 KFOK CLEA 05/15 16:48 DREVZE KISO C250 08/2018 42 TREGUT KISO- 11/09 23 23 REB45 KBXM CS5X 05/04 23:27 JRE835 KALM CESK 05/15 17:22 TREBAS KTER CARD 05/98 18 34 flyexclusive 12#13FINANCIAL SNAPSHOT Positioned for growth through fleet expansion and vertical integration Total Revenue FY '19A-'24E CAGR Core Business Metrics 39.4% 2024E EBITDA (¹) $53.8m 10.3% 2024E EBITDA Margin Industry-leading revenue growth and margins driving profits Notes: (1) 2024E represents year-end estimated financials. EBITDA is a non-GAAP financial measure. See p. 39 for further information. flyexclusive 13#14ORGANIC GROWTH Consistent revenue and fleet expansion since inception despite market fluctuations ($ in millions) Light Mid Revenue $99 45 Super-Mid Heavy 2019A ****** Light Citation Encore+: 10 Units Citation CJ3/CJ3+: 15 Units $121 63 2020A Annual Revenue and Fleet Size Revenue '19A - '24E CAGR 39.4% Fleet Size '19A - '24E CAGR 23.1% $208 78 2021A Fleet Range Midsize Citation Excel/XLS/XLS+: 39 Units $320 91 2022A Hur Super-Midsize Citation Sovereign: 7 Units Citation X:13 Units $367 110 2023E $521 127 2024E Heavy Long-Range Gulfstream GIV-SP: 7 Units flyexclusive 14#15COMPANY CHARTER REVENUE MIX Evolution of diversified charter revenue and committed demand % of Total: 2019A 5% 95% 5% Legend GRP Jet Club Fractional Partner 2020A 86% 4% 9% 5% 5% 58% Wholesale Retail Ad-Hoc(1) Notes: (1) Non-Member Direct Retail Charters. Excludes MRO operations and other revenue. 2021A 5% 18% 8% 10% 39% ■ 2022A ■ 7% 29% Contractually Committed Demand 37% 70% 24% 1% 24% 8% 2023E 3% 36% 71% 28% 1% 11% 6% 2% 2024E 42% 61% 39% Variety of flight programs drive the revenue mix transition 100% of charter revenue is pre-paid 60+% of 2023E and 2024E estimated to represent contracted committed demand within total charter revenues flyexclusive 15#16INVESTMENT HIGHLIGHTS 94.JS Proven Operator 1 World-class private aviation executive who has founded, operated, and sold a previous business to Delta Air Lines 2 3 Unique Business Model Diversified customer channels, vertically integrated operations, and optimized asset utilization Clear Growth Trajectory Y-O-Y Jet Club membership growth of 85% with a 90%+ retention amongst existing members, as well as substantial contractually committed revenues Strong Market Backdrop 4 Favorable long-term secular tailwinds in sector and ability to take additional share in a growing market Durable Competitive Advantages 5 Strategic key initiatives and investments made to remove industry bottlenecks to growth and to maintain leading consistent customer experience flyexclusive 16#17PROVEN OPERATOR flyexclusive#18MARKET CAPTURE Taking share at an accelerated pace within established growing market ($ in millions) flyExclusive Charter Revenue (1) Other U.S. Private Jet Charter Revenue % flyExclusive Market Share 0.6% $99 $16,938 flyExclusive Penetration of Private Jet Charter Market Market '19A - '24E CAGR 2.6% flyExclusive '19A - '24E CAGR 38.0% 2019A 0.7% $121 $17,150 2020A 1.2% $208 $17,768 2021A Source: IBIS. Private Jet Charter revenue includes Part 135 and Part 91k. (1) Includes charter revenue only. Excludes MRO, Fractional Profit Margin. 1.7% $318 $18,116 2022A 1.9% $359 $18,553 2023E 2.6% $495 $18,885 2024E flyexclusive 18#19KEYS TO SERVICE AND RETURNS flyExclusive's unique operating model positions it for continued success Vertical Integration Significant investment to build competitive moat ■ Control ▪ 99%+ of flights on our fleet Key Differentiators Service Quality Control and integration ensure consistency ■ Experience Segrave Aviation's successful 15+ year track record invaluable in building flyExclusive ■ Note: (1) Management estimate. flyExclusive's Retail Customer to Aircraft Ratio 14.3 5.3 411 2021A 7.9 723 2022A Retail Customers / Aircraft 11.3 8 Retail Customers per Aircraft 1,239 2023E 1,810 2024E Retail Customers Industry-Leading Retail Customer to Aircraft Ratio (1) 59 Comp 1 22 Comp 2 20 Comp 3 Competitors with high ratios are unable to operate cost- effectively flyexclusive 19#20WHERE WE ARE TODAY flyExclusive's vertical integration investments yield results across the value chain INVESTMENT -800 PROFESSIONALS 90+ OWNED/LEASED AIRCRAFT 100,000+ sq ft INFRASTRUCTURE 20 PERSON IT DEVELOPMENT TEAM SERVICE CONTROL CAPACITY EFFICIENCY ● ● ● YIELD Consistent branding & pilots Jet Club member retention of 90%+ 99%+ of customers flown on flyExclusive fleet Customer / aircraft discipline minimizes high-cost, third-party affiliate lift Operational control provides cost visibility 24/7 MRO operations increases maintenance capacity and revenue In-house pilot training bolsters dispatch availability Superior fleet up-time Minimization of empty flight legs Schedule optimization maximizes aircraft utilization flyexclusive 20#21COMPARISON TO MAJOR COMPETITORS Optimal business model with key differentiators Asset Growth Customer Fulfillment (Affiliate Lift) EBITDA Generation Aircraft Control Customer Experience Customer / Jet Ratio Maintenance / Refurbishment Jet Branding Location Spend Lead Time Pilot Training flyexclusive Aircraft Acquisition 99%+ on flyExclusive Fleet Positive 100% flyExclusive Planes, Paint, Pilots, Interiors 8 flyExclusive Uniform Consolidated Operations Fleet, Customer, IT 4-5 Day (Advantage) In-House Pilot Training by 2025 Key Competitors Operator Acquisition 3rd Party Reliance Inconsistent and / or Negative Other Operators Unpredictable 20+ 3rd Party Inconsistent Fragmented Brand, "Sizzle", Promotions Hours Outsourced flyexclusive 21#22PRODUCT OFFERINGS flyexclusive#23JET CLUB Direct, sustainable customer base with Y-o-Y membership growth of 85% ('21A-'22A) ▪ Launched in May 20, Jet Club offers non-refundable, multi-tiered membership options Daily rates subject to an annual increase ■ ■ At current ~90% retention, Jet Club will grow exponentially ▪ Members typically fly between 20 - 50 hours annually Targeted Sales Approach ■ I Overview ■ ■ Hourly rates creased annually based on CPI and adjusted monthly for changes in jet fuel costs Investing in customer-facing locations, with sales offices in Ocean Reef, Palm Beach, and Teterboro Approximately 50% of new members are derived from referrals Historically maintained advertising and marketing spend of about 1% of revenue High-performing sales team of 16 professionals strategically located across the US Robb Report BEST OF THE BEST WINNER 2022 99 2020A Web David Book a Trip Active and Projected Members KROU '20A '24E CAGR 91.4% 329 2021A My Tri Tuesd 04/12/2012 608 In-House Developed Apps for Jet Club Customer Pilot Raleigh/Durhom, NO 2022A 03/30 N 10000 Abah 968 2023E Fight Log 100 NO1OJS 153 ton co the 47035 13:44 KRDU 04/1 1,328 2024E X MYAB flyexclusive 23#24FRACTIONAL OWNERSHIP Highly profitable, capital efficient program to complete customer offerings Summary ▪ Fractional program targets private travelers who fly 50 - 100 hours per year ▪ Customers purchase a share of a new aircraft (up to 16 owners per plane) ▪ Company realizes a profit on the sale of fractional shares Projected Fractional Fleet Profile Deals announced with Textron in 2022 for up to 44 deliveries between 2023-2027(1) 1 2022A Super-Mid 9 6 Mid 2 2023P cessna-citation-xls-gen2-and-citation-longitude-business-jets Light 19 2 6 11 2024E Note: (1) Source: https://media.txtav.com/219358-flyexclusive-expands-citation-fleet-with-order-for- Share of Fractional Jet Fractional shares beginning at 50 hours per year on aircraft Program Benefits Flexibility with Fractional No monthly management fees, no blackout dates, and minimal peak days N786.J *** Immediate Fleet Access Full access to fleet - Light, Mid, Super- Mid flyexclusive 24#25PARTNERSHIP Provides valuable service to owners while cost-effectively growing the fleet ■ ■ I ■ ■ Winning Long-Term Partnerships flyExclusive purchases and upfits aircraft, then sells at a premium while retaining control flyExclusive assumes responsibility for maintenance and operations via a triple net lease Partner benefits include tax depreciation and owner rates Optimizes cash flow for aircraft owners Option at the end of many leases for a buyback at a fraction of the original sale price Partnership program typically serves customers that fly between 100-150+ hours annually flyexclusive 25#26WHOLESALE AND GUARANTEED REVENUE PROGRAM Optimize revenue and fleet positions ▪ Wholesale is typically sold within 3 days of flight flyExclusive utilizes Wholesale to maximize hours and fleet utilization Wholesale serves as a resource for charter brokers and smaller fleet operators ▪ Guaranteed Revenue Program (GRP) and Wholesale often share the same B2B customers, whereas GRP is protected with minimum guaranteed revenue with ensured favorable rates, terms, and reimbursements ▪ GRP flights generate revenue, including empty legs (repositioning) Top Wholesale Customers I ■ apollojets >UNITYJETSⓇ Overview JETLINX FXAIR WHEELS UP JETS.COM XOJET® SIGNATURE JETS, flyexclusive 26#27PRODUCT OFFERING SUMMARY Differentiated platform with multiple growth channels CUSTOMER TYPE JET CLUB FRACTIONAL PARTNERSHIP WHOLESALE Contractual Demand GRP Non-committed Demand Note: (1) Charter revenue exclusive of discounts and charter services. ANNUAL FLIGHT HOURS 20 - 50 50 - 100 100 - 150+ VARIABLE 2024E REVENUE MIX (1) 42% 11% 6% 41% flyexclusive 27#28COMPETITIVE ENVIRONMENT AND DIFFERENTIATORS flyexclusive#29IN-HOUSE MAINTENANCE Extensive investments in maintenance, paint, interiors, and avionics 24/7 Operations + -50% Lower Downtime(¹) + Maintenance Savings + MRO Benefits External Revenue Stream ■ ■ · 24/7 operations ~3x the MRO output Perform repairs overnight (when aircraft is not flying) Improved planning and troubleshooting of repairs Improved uptime for fleet superior to the industry average(¹) Increased revenue and profitability ■ New revenue streams from 3rd parties Note: (1) flyExclusive Management estimate according to Company and industry statistics. On-site Infrastructure ▪ 100,000+ sq ft of in-house maintenance, interior, and paint facilities 48,000 sq ft hangar completed in Q2'22 ▪ Part 145 certificate in 2Q 2023 Projected MRO Revenue N945LC $4.8 million 2023E Revenue ofiar $9.0 million 2024E Revenue flyexclusive 29#30PILOT TRAINING "Build versus buy" strategy to address the pilot training industry challenge ON-CAMPUS FACILITIES ONBOARDING TRAINING UPTIME ■ PILOT TRAINING CENTER ▪ Faster on-boarding by reducing training wait times ▪ Lower costs through flyExclusive simulator facility ▪ Simulator screening checks pre-hire ■ On-campus pilot training facilities will remove one of the greatest bottlenecks to growth within the aviation industry Training in Kinston builds company culture within a remote workforce ▪ Additional training resources available to test aptitude, not just promotion based on seniority Deeper and more frequent training increases efficiency ■ Expedited crew availability increases dispatch availability, or uptime • Increased flight hours contribute to greater profitability Oftremi THU flyexclusive 30#31CUSTOMER EXPERIENCE Hitting high expectations consistently requires experience and infrastructure Safety 5 Interiors 8 Robb Report BEST OF THE BEST WINNER 2022 4 Paint 2 Fleet 3 Maintenance 1 2 3 5 Top 5%: ARGUS Platinum + Wyvern Wingman Certification 23% 5-year Fleet Growth CAGR 70% of Scheduled Maintenance In-House 100% of Fleet Painted Internally 100% of Fleet Interiors Refurbished Internally flyexclusive 31#32WHY FLYEXCLUSIVE WINS Focus on executing growth with operational control Vertical Integration Maintenance and Staffing Technology Asset Growth ▪ Service excellence and consistency drive everything ▪ Reliable and repeatable service execution is aligned with cost and return management ▪ Value is created simultaneously for customers, shareholders & flyExclusive with a single strategy ▪ Consolidated operations optimize costs and synergies In-house maintenance and fleet control drive superior service and operating visibility Pilot sourcing and training are a key competitive differentiators ■ 1 Technology enables and supplements our strategy ▪ AI / ML dynamic pricing and apps developed in-house Technology focused primarily on improving operational efficiency and customer experiences I ■ I 1 Deliberate, capital-light fleet growth matched with committed demand via Fractional and Partnership programs Purposeful focus on select aircraft types drives scale and synergy benefits flyexclusive 32#33FINANCIAL OVERVIEW flyexclusive#34REVENUE AND ADJUSTED EBITDA SUMMARY ($ in millions) $99 45 $121 Revenue '19A - '24E CAGR 39.4% $320 $208 63 Revenue and Adjusted EBITDA Breakout $367 2019A 2020A 2021A 2022A 2023E 2024E Ending Aircraft Count 78 91 $521 110 127 Note: Please review "Key Assumptions Disclosures & Definitions" on p.40 for more detail. $17 Adjusted EBITDA '19A - '24E CAGR 25.6% $12 $13 $29 $32 $54 2019A 2020A 2021A 2022A 2023E 2024E ▪ Charter rates and programs matched to customer's needs ■ ■ ■ ■ Pricing designed so that each aircraft model generates cash Improvement in margin results from continued investments in maintenance and refurbishment Charter revenue bolstered by continued Jet Club growth via industry-leading pricing model and consistent product experience Projections assume no international expansion flyexclusive 34#35REVENUE FORECAST BREAKDOWN Fleet growth with pre-committed demand and member growth ($ in millions) $320 2022A Fleet Growth Hours / Jet Rate / Hour $367 2023E Fleet Growth Hours / Jet Rate / Hour $521 2024E Fleet growth ■ 2023 and 2024 assume onboarding of jets similar to history (mid teens / year) Fleet growth will be driven primarily through fractional program ■ ■ Hours / jet ■ Fleet growth deliberate and matched with contractual demand ■ Near-term customer per jet ratio in the high single digits 2024 assumes modest lift in hours /jet driven by customer growth and jet mix Rate / hour Flat to down market rate assumptions based on lower fuel costs and conservatism flyexclusive 35#36DELIBERATE GROWTH Diversified charter revenue with growth tied to demand CHARTER REVENUE MIX - 2024E (1) 41.7% 60%+ Contractually Committed Demand 11.5% 6.1% 1.5% Jet Club Fractional Partner GRP Notes: (1) Charter revenue exclusive of discounts and charter services. See pg. 39 for a breakdown of total revenue. (2) includes retail revenue; 0.4% of 2024E charter revenue. 39.2% Wholesale (2) 100.0% Total Jet Club ■ ■ ■ Program growth underwritten against fleet capacity Fractional and Partner Capital-light fleet growth matched with forward contracted demand ■ Disciplined customer per aircraft ratio managed against capacity, with excess to serve demand flyExclusive control of aircraft yields synergistic capacity to business model GRP ■ Contracted rates and hours beyond wholesale demand Wholesale Serves excess capacity, when available to optimize fleet yield flyexclusive 36#37TRANSACTION SUMMARY Highly attractive valuation for an established operator in the private aviation sector ▪Total cash investment of up to $310 million(¹) ▪Current owners will retain 61.7% ownership at close(1) ▪Transaction is expected to close in 3Q 2023 ▪Pre-transaction equity value of $600 million SPAC Cash in Trust(1) Convertible Notes (1) Sponsor Shares (non-cash)(2) Existing Shareholder Rollover Equity Total Sources Uses ($ in millions) Cash to PF Balance sheet Sponsor Shares (non-cash)(²) Illustrative Transaction Expenses $225.0 $85.0 $56.4 $600.0 $966.4 Capitalization Share Price Pro Forma Shares Outstanding Equity Value (3) Less: Pro Forma Net Cash (4) PF Enterprise Value $295.0 $56.4 $15.0 Equity Purchase Price $600.0 $966.4 Total Uses Note: (1) As of June 1, 2023, cash in trust amounted to $43.3 million. Total cash assumes flyExclusive equity holders do not exercise right to have repurchased up to $20 million of shares at closing at $10.00 per share (repurchase amount scales based on total cash in excess of $85 million per Equity Purchase Agreement)). Pro forma equity ownership does not reflect 11.8 million of warrants outstanding at $11.50 per share. (2) Illustrative share value at transaction close (non-cash), sponsor shares locked-up for 3 years. (3) Equity Value exclusive of Sponsor Promote. (4) PF Net Cash includes $249.6m in existing debt, and -$92.6m of existing cash and marketable securities on the balance sheet as of December 31st, 2022. 28.9% Pro-Forma Ownership (%)(¹) 9.4% 61.7% $10.0 96.6 $909.6 $223.6 $686.0 ▪ FlyE Shareholders ▪ EGA Public Shareholders and Convertible Notes ▪ EGA Sponsor Shares flyexclusive 37#38SUMMARY P&L Continued focus on vertical integration and scaling flight offerings Revenue Aircraft Charter MRO Revenue Fractional Share Revenue Total Revenue Cost of Goods Sold Net Income Historical and Projected Income Statement ($ in 000s) 2021A 2022A Depreciation & Amortization Interest Public Company Readiness Expense Cares Act Grants Adjusted EBITDA Adjusted EBITDA Margin 2019A $99,004 $99,004 $71,177 ($33) 12,228 5,041 $17,236 17.4% 2020A $121,039 $121,039 $85,810 $3,317 16,113 5,343 (12,431) $12,342 10.2% $208,172 105 $208,277 $159,238 $2,241 17,353 4,218 (11,153) $12,659 6.1% $318,259 1,556 227 $320,042 $255,441 23,114 8,291 1,660 2023E $28,913 9.0% $359,440 4,840 3,014 $367,294 ($4,152) ($11,855) $288,049 26,336 10,771 6,774 $32,025 8.7% 2024E $495,093 8,970 16,513 $520,576 $392,024 $10,150 31,687 12,011 $53,848 10.3% *Adjusted EBITDA is a non-GAAP financial measure I We include Adjusted EBITDA as a supplemental measure for assessing operating performance in conjunction with related GAAP amounts and for the following: ● Used in conjunction with strategic internal planning, annual budgeting, allocating resources and making operating decisions Provides useful information for historical period-to- period comparisons of our business, as it removes the effect of certain non-cash expenses and variable amounts ▪ A reconciliation of EBITDA to Net Income, the most directly comparable GAAP measure, is shown in the accompanying table flyexclusive 38#39PANEL - HEAR FROM THOSE WHO EXECUTE flyexclusive#40PART OF A LARGER CAUSE ● ● Carbon Offset Program Jet Club Members and Partners given the ability to offset their flight emissions by funding verified carbon offset projects Credits primarily focus on forestry and innovative carbon offset technologies AeroAngel AeroAngel flies critically ill immuno- compromised kids to life-saving care. flyExclusive is the largest provider of flights for AeroAngel We've conducted 20 flights and allow our members to donate flight time flyexclusive + 4 AIR ● ● ● Community Partnerships One of the largest and fastest growing employers in the region Provide volunteers to the local food pantry and animal shelter Two company-wide blood drives hosted for the American Red Cross Sponsor and participate in local NC BBQ fest and minor league baseball team 000 BE flyexclusive 40#41QUESTION & ANSWER SESSION flyexclusive