Investor Presentaiton

Components of Aircraft Operating Costs Given the fixed costs associated with operating any aircraft, along with the need for infrastructure owners to make profits from fuel/electricity sales and landing fees, we anticipate that early EVA will produce modest improvements in unit economics Fixed Costs Aircraft Ownership / Lease Insurance Maintenance Labor Maintenance Parts Avionics/Subscriptions Pilot Salaries (1) Pilot Training (1) Hangar Admin Operator Economics Direct Operating Costs (DOC) Cost of fuel or electricity (including markup) Battery reserves (assume replacement at max cycles over lifetime) Maintenance reserves (scheduled and unscheduled) Blade Economics Hourly Rate ÷ Flight Time + Landing Fees Hours flown Direct Fixed Costs ÷ per aircraft + per year Operating Costs = Hourly Rate Flight Cost Note: Fixed costs are amortized over the total number of annual flight hours per machine 1. Additional pilots and training are required to manage duty requirements depending on aircraft usage (i.e. hours flown per year) BLADE 35 35

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