Q3 2023 Financial Highlights

Use Of Non-GAAP Information (Continued) We operate our business as two reportable segments - Passenger and Medical. Adjusted EBITDA and Segment Adjusted EBITDA - Blade reports Adjusted EBITDA, which is a non-GAAP financial measure. This measure excludes non-cash items or certain transactions that are not indicative of ongoing Company operating performance and / or items that management does not believe are reflective of our ongoing core operations (as shown in the table below). Blade defines Segment Adjusted EBITDA as segment net income (loss) excluding non-cash items or certain transactions that management does not believe are reflective of our ongoing core operations. Adjusted Unallocated Corporate Expenses has the same meaning as Segment Adjusted EBITDA for our Corporate expenses and software development operating segment and is reconciled in the tables below under the caption "Reconciliation of Segment Net Income (loss) to Segment Adjusted EBITDA." " BLADE BLADE AIR MOBILITY, INC. RECONCILIATION OF SEGMENT NET INCOME (LOSS) TO SEGMENT ADJUSTED EBITDA (in thousands, unaudited) Passenger Medical Three Months Ended December 31, 2022 Unallocated Corporate expenses and software development $ (5,772) $ (5,144) $ (4,499) Segment net income (loss) Reconciling items: Depreciation and amortization Stock-based compensation Change in fair value of warrant liabilities Realized loss from sales of short-term investments Interest income, net Income tax expense (benefit) 1.447 364 173 271 79 2,300 (1,984) 91 (1,542) (828) Legal and regulatory advocacy fees (1) (180) Executive severance costs 269 Contingent consideration compensation (earn-out) (2) 6.289 Non-cash timing of ROU asset amortization 464 M&A transaction costs Segment Adjusted EBITDA $ (3,770) $ 1,588 $ 247 (5,773) (1) Represents certain legal and regulatory advocacy fees for matters that we do not consider representative of legal and regulatory advocacy costs that we will incur from time to time in the ordinary course of our business. (2) Represents contingent consideration compensation in connection with the Trinity acquisition calculated based on 2022 performance. 45

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