Investor Presentaiton

Use Of Non-GAAP Information Adjusted EBITDA - To supplement its consolidated financial statements, which are prepared and presented in accordance with U.S. generally accepted accounting principles ("GAAP"), 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). Flight Profit and Flight Margin - Blade defines Flight Profit as revenue less cost of revenue. Cost of revenue consists of flight costs paid to operators of aircraft and cars, landing fees, right-of-use ("ROU") asset amortization and internal costs incurred in generating ground transportation revenue using the Company's owned cars. Blade defines Flight Margin for a period as Flight Profit for the period divided by revenue for the same period. Blade believes that Flight Profit and Flight Margin provide a more accurate measure of the profitability of the Company's flight and ground operations, as they focus solely on the direct costs associated with those operations. Blade believes that these non-GAAP measures, viewed in addition to and not in lieu of our reported GAAP results, provide useful information to investors by providing a more focused measure of operating results, enhance the overall understanding of past financial performance and future prospects, and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies. Adjusted EBITDA and Flight Profit have been reconciled to the nearest GAAP measure in the tables within this presentation. " BLADE BLADE AIR MOBILITY, INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (in thousands except percentages, unaudited) Net loss $ Three Months Ended March 31, 2023 (10,192) S 2022 (11,012) Depreciation and amortization Stock-based compensation Change in fair value of warrant liabilities 1.652 1.145 3.221 2.098 (566) (2.550) Realized loss from sales of short-term investments 81 136 Interest income, net Income tax benefit (1.954) (264) (196) Legal and regulatory advocacy fees 423 1,747 Executive severance costs 146 Contingent consideration compensation (earn-out) (339) M&A transaction costs 973 Adjusted EBITDA S (7,724) $ (7,727) Adjusted EBITDA as a percentage of Revenue (17)% (29)% 40 40

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