EVE SPAC Presentation Deck

Financial Forecast $ in millions eVTOL Deliveries Revenue Y/Y Growth Non-GAAP Gross Profit (1) Non-GAAP Gross Margin EBITDA (2) EBITDA Margin Capex Free Cash Flow (3) 2024E $21 73% ($1) N.M. ($109) N.M. ($158) ($269) 2025E $45 121% $2 5% ($88) N.M. ($209) ($299) 2026E 75 $305 570% $13 4% ($60) N.M. ($258) ($316) 2027E 340 $1,161 281% $179 15% $67 6% ($273) ($211) 2028E 481 $422 23% $1,825 $3,047 57% 67% $278 15% 2029E ($245) $28 801 $750 25% $518 17% ($293) $203 2030E 1,117 $4,536 49% $1,171 26% $840 19% ($337) $475 ● ● ● ● Note: Estimates are from Eve management. Eve financials are prepared in accordance with US GAAP accounting principles. (1) Non-GAAP gross profit is defined as gross profit excluding depreciation and amortization and stock-based compensation expense included in cost of goods sold. (2) EBITDA is a non-GAAP measure and defined as net income (loss) before depreciation and amortization, income taxes, interest income / (expense) and stock-based compensation. (3) Free cash flow is a non-GAAP measure and defined as EBITDA minus income taxes (excluding Tax Receivable Agreement payments), changes in net working capital and capital expenditures. (4) Eve's funding expectations are subject to change based upon a variety of factors, including shareholder redemptions and higher than expected losses. (5) Eve's working capital commitment is based upon a non-binding LOI from the Brazilian Development Bank (BNDES). Forecasted gross and EBITDA margins reflect Embraer's experience with past aircraft programs Eve expects to be EBITDA positive for the full year of 2027E Excluding manufacturing capex, Eve requires approximately $540M to fund its plan (4) Manufacturing capex is expected to be funded through working capital commitments (5) 33

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