Vertical Aerospace (EVTL) Status Update summary

Strategic vision and business model

• Flightpath 2030 targets delivery of at least 150 aircraft and a manufacturing exit rate of over 200 units per year by Q4 2030, with a medium-term goal to scale to 700 units annually.

• Focuses on a capital-efficient, asset-light OEM model, leveraging tier-one aerospace partners and in-house technology for certification and production.

• Maintains a leading pre-order book of approximately 1,500 aircraft, providing strong revenue visibility for the first five years of production.

• Emphasizes a pioneering culture, safety obsession, and intelligent partnering to redefine aerospace best practices, aiming for a zero-accident record.

• Plans to achieve cash break-even in 2030 and grow gross profit margins to over 40% in the medium term.

Technical progress and certification pathway

• VX-4 eVTOL aircraft features advanced composites, digital systems, proprietary sixth-generation battery and powertrain technology, and club seating for six passengers.

• Achieved significant milestones with full-scale piloted flight tests, progressing through multi-phase programs including thrust-borne and upcoming wing-borne and transition flights.

• Certification targeted for 2028 with the UK CAA and EASA, with concurrent efforts in the USA, Japan, Brazil, and Singapore.

• Six additional aircraft will be built for certification testing, with Aircraft 3 entering production in early 2025 and plans for major upgrade certification by 2030.

• Facilities in Bristol include a world-leading battery center, engineering HQ, and flight test center, supporting initial and expanded production rates.

Customer engagement and market opportunity

• Extensive collaboration with global customers in airlines, finance, business aviation, and helicopter operations, including biannual Pioneers events and network mapping.

• VX-4 addresses underserved short-haul routes, with over 90% of mapped flights under 30 miles and 95% of leading customer routes fitting this profile.

• Customer feedback directly influences design, payload, and operational requirements, supporting rapid adoption upon launch.

• Competitive leasing, financing, and diverse VTOL market operations across continents.