Surf Air Mobility (SRFM) Registration Filing summary

Company overview and business model

• Operates a regional air mobility platform focused on sustainable, electrified flight and connecting communities.

• Develops fully-electric and hybrid-electric powertrain technology with commercial partners to upgrade existing fleets.

• Provides both scheduled and on-demand charter flights, leveraging a network of 41 cities and 31,476 departures in 2023.

• Acquired Southern Airways in July 2023, expanding its network and becoming the largest Cessna Caravan operator by scheduled departures in the U.S.

• Holds multi-year contracts with the U.S. government for Essential Air Service routes, supporting small community air service.

Financial performance and metrics

• Combined network served approximately 176,131 passengers in 2023.

• Financial statements include an explanatory paragraph regarding the company's ability to continue as a going concern.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general corporate purposes, including debt repayment, acquisitions, capital expenditures, and working capital.

• Proceeds may be temporarily invested prior to use.