flyExclusive SPAC
III. WHAT WE DO
FRACTIONAL OWNERSHIP
Highly profitable, capital efficient program to complete customer offerings
Summary
Program Benefits
▪ Fractional program targets private travelers who fly 40 - 60 hours per year
• Customers purchase a share of a new aircraft (typically-10 owners per
plane)
■ Company realizes a profit on the sale of fractional shares (planes sold for
-$12.0 million and costs the Company -$9.5 million)
flyExclusive projects -56% margins on flights of fractional aircraft
Projected Fractional Fleet Profile
April 2022 announced secured deal with Textron (CJ3 manufacturer)
for up to 30 deliveries between 2023-2025(¹)
Super-Mid
Mid
Light
■
2023E
'23E '26E CAGR 97.2%
18
7
11
2024E
28
12
16
2025E
46
9
announces-order-from-fyExclusive-for-up-to-30-Cessna-Citation-C13-light-lets. (2) Management
estimate for light jet fractional economics
16
21
2026E
Notes: (1) Source: https://www.businesswire.com/news/home/20220406005695/en/Textron-Aviation-
Share of Fractional Jet
Fractional shares beginning
at 40 hours per year on
aircraft (first deliveries
starting in Q2 2023)
Flexibility with
Fractional
Aircraft Sale Price
Aircraft Cost
Profit Margin
No monthly management
fees, no blackout dates, and
minimal peak days
←
$12.0mm
$9.5mm
$2.5mm
Immediate
Fleet Access
Light Jet Fractional Economics (Illustrative Example) (2)
Annual Hours
Rate / Hour
Flight Revenue
COGS
Gross Profit
Gross Margin
Full access to fleet - Light,
Mid, Super-Mid
1,200
$4,500
$5.4mm
- $2.4mm
$3.0mm
55.6%
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