flyExclusive SPAC

II. WHO WE ARE INDUSTRY TREND Inelastic private charter demand while commercial aviation struggles Revenue Index Comparison: Private Charter, U.S. Scheduled Passenger Carrier, and flyExclusive Scheduled Passenger Revenue vs. Private Charter Revenue flyExclusive Charter Revenue vs. Private Charter Revenue 1.3 1.2 1.1 1.0 0.9 0.8 0.7 0.6 0.5 0.4 '16A OSTERNE Private charter market has been and continues to attract greater proportions of first-class passengers from commercial airlines '17A Legend 18A '19A '20A 21A ¹22P '23E 1.2 1.0 *24E U.S. Scheduled Passenger Carrier Revenue Index U.S. Private Jet Charter Revenue Index flyExclusive Charter Revenue Index Sources: Bureau of Transportation Statistics: U.S. Scheduled Passenger Carrer Domestic Operating Revenue. IBIS: Domestic Airlines in the U.S., U.S. Private Jet Charter Revenue. Private Jet Charter revenue includes Part 135 and Part 91k. 30.0 25.0 20.0 15.0 10.0 5.0 0.0 '16A flyExclusive demonstrat disproportionately faster revenue growth rates relative to the broader private charter market '17A '18A "19A '20A '21A 22P ¹23E Scheduled Passenger Revenue '16A- '24E CAGR 0.4% Private Charter Revenue '16A- '24E CAGR 2.8% flyExclusive Charter Revenue '16A- '24E CAGR 51.3% 27.4 1.3 ¹24E flyexclusive 15

View entire presentation