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 financing and services infrastructure to accelerate industry-wide adoption of electrified aircraft.

• Acquired Southern Airways in July 2023, creating a combined network serving 41 cities and 176,131 passengers in 2023.

• Largest U.S. operator of Cessna Grand Caravan EXS for scheduled departures, with contracts for Essential Air Service routes.

Financial performance and metrics

• Issued a $74.0 million senior secured convertible note in November 2025, sold at 87.8% of principal for $65.0 million in proceeds before expenses.

• The note matures October 31, 2028, with a 15% default interest rate and 105% repayment at maturity.

• Combined 2023 operations included full-year results for Surf Air Global Limited and partial-year for Southern Airways.

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.

• No proceeds will be received from selling stockholders' resale of common stock.