AIR Global (AIIR) Investor presentation summary

Executive leadership and experience

• Leadership team includes CEO, CFO, and executives with backgrounds at BAT, Reckitt, Dyson, Barclays, and ABInBev.

• Extensive experience in tobacco, FMCG, engineering, electronics, and investing.

Core business and market position

• Holds 60–65% market share in the USA for flavored shisha molasses, anchored by the Al Fakher brand.

• Three of the five best-selling global flavors belong to Al Fakher, with ~1 billion hookah servings annually.

• Larger than the next four competitors combined in key markets.

• Acquired Germany’s leading premium flavored molasses brand in 2025.

Financial performance and outlook

• H1’26 revenue grew 3.7% to $206.9m, with adjusted EBITDA flat at $71.7m despite supply disruptions.

• FY25 consolidated revenue reached $400m, with a 35% adjusted EBITDA margin.

• FY26 guidance projects 4–6% revenue growth and low- to mid-single-digit adjusted EBITDA growth, despite elevated costs.

• Net debt/adjusted EBITDA at 2.5x in H1’26, with a long-term target of 2.5x.