Eve Holding (EVEX) investor relations material

Executive summary

• Achieved key eVTOL program milestones, including final prototype testing, Iron Bird ground prototype operation, and supplier agreements, with Embraer selected for landing gear.

• Preparing for first full-scale prototype flight, with successful ground, communication, and integration tests completed.

• Remains pre-revenue, focusing on eVTOL aircraft, service solutions, and urban air traffic management software.

• Expanded global presence with a strategic agreement in Bahrain and active engagement with regulators and customers worldwide.

• Net loss for Q3 2025 was $46.9 million, mainly due to increased R&D and operating expenses.

Financial highlights

• Raised $230 million in new equity in August/September 2025, boosting cash and equivalents to $411.7 million and total liquidity to $534.3 million at quarter-end.

• Net loss of $46.9 million in Q3 2025 and $160.3 million for the nine months ended September 30, 2025.

• R&D expenses rose to $44.9 million in Q3 2025, up 38% year-over-year, driven by prototype development and engineering activity.

• Cash consumption for operations was $60.7 million in Q3 and $143.0 million for the first nine months, tracking toward the low end of $200–$250 million full-year guidance.

• Financial investment income increased, with available debt of $105.8 million and grant commitments of $16.9 million.

Outlook and guidance

• Liquidity is expected to fund operations and R&D through 2027, with cash consumption guidance for 2025 at $200–$250 million and a similar pace anticipated for 2026.

• First full-scale prototype flight expected by year-end or early next year, with certification plans to be published by year-end.

• Ongoing need for substantial capital until revenue generation begins; plans to continue raising funds as needed.