EX-99.1 2 ea185553ex99-1_surfair.htm INVESTOR PRESENTATION

Exhibit 99.1

F o r w ard L ooking S t a t ements A c t o f 1 9 3 3, as amended, and Se c tion 2 1 E o f the Securities E x change A c t o f 1 9 34, as amended. Forward - looking statements in this presentation include, among other things, statements about Surf Air Mobility Inc.’s (“Surf Air Mobility” or the “ C ompa n y”) e xpe c t a tions r egarding capi t al r e q ui r ements, e xpenses, s ales and oper a tions; f u t u r e customer concentration; development of hybrid - elec tric and f u l ly elec tric po w e r train t echnolo g y ; regulatory approval and market entry of hybrid - elec tric and f u l ly - ele c tric po w e r train t echnolo g y ; ability to anticipate the future needs of the air mobility market; projected size of the air mobility ma r k et; f u t u r e t r ends in the a vi a tion indust r y , genera l l y ; plans f or f u t u r e produ cts and or “ c ontinu e ”, or the neg ati v es o f these t erms or vari a tions o f them or similar t erminolo g y . This which a r e not proje c tions but which a r e f o r ward looking, and are subject to significant, business, wi l l va r y and those vari a tions m a y be m a terial. Nothing in this presentation should be regarded as a securities laws, including Section 27A of the Securities no duty to update these goals and targets. Forward - looking statements (including goal and targets) are based on the opinions and estimates of management a t the d a t e the s t a t ements a r e made and a r e subject to a variety of risks and uncertainties and other factors that could cause actual events or results to diﬀer materially from those anticipated in the f o r ward - looking s t a t ements (including goals and targets). Although the Company believes that the e xpe c t a tions r e fl e c t ed in the f o r ward - looking s t a t ements (including goals and t a r gets) a r e r easonable, the r e c an be no assurance th a t such e xpe c t a tions wi l l pr ov e to be c orr e c t . The C ompa n y cannot guarantee future results, level of activity, pe r f ormance or achie v ements and the r e is no “could”, “might”, “plan”, “possible”, “project”, “strive”, Factors” contained in the Company’s registration “bu d get”, “ f o r e c ast”, “ e xpe c t”, “in t end”, “wi l l”, s t a t ement on F orm S - 1/ S - 4 ( F ile N o . 33 3 - 2 7 2 4 0 3). C ompa ny f aces. The r e m a y be other risks and uncertainties that the Company is unable to identify p resen t a tion also c on t ains ce r t ain goals and t a r gets a t this time or th a t the C ompa ny does not currently e xpe c t to h av e a m a t erial impa c t on its business. If any of those risks or uncertainties develops into an e c onomi c , r e g ul a to r y and c ompetiti v e unce r t ainties a c t ual ev en t , it c ould h av e a m a t erial ad v erse e ﬀ e c t and c ontingencies, man y o f which a r e be y ond the on the C ompa ny ’ s business. c ontrol o f the C ompa ny and its managemen t , and a r e not to place undue r eliance on such s t a t ements or information. The Company does not undertake any C e r t ain in f orma tion in this p resen t a tion a r e “ f o r ward - r ep r esen t a tion by a n y person th a t these goals and oblig a tion to upd a t e or r evise a n y f o r ward - looking looking statements” within the meaning of the federal targets will be achieved and the Company undertakes statements, whether as a result of new information, future events or otherwise, except as required by securities and other appli c able laws. Southern A c q uisition References to the “Southern Acquisition” refer to the business combination transaction pursuant to which, immediately prior to the direct listing, a wholly - owned subsidiary of Surf Air Mobility will be merged with and into Southern Airways Corp. (“Southern”), aft er which Southern wi l l be a who l ly - owned subsidiary of Surf Air Mobility. Information that is presented on a “pro forma” basis refers to unaudited pro forma condensed combined financial data enhancements of existing products; future growth the same, in whole or in part, as those set out in the X which gives eﬀect to, among other things, the strategy and growth rate; future intellectual property; forward - looking statements (including goals and internal reorganization, the Southern Acquisition and and anticip a t ed t r ends and cha l lenges in the ma r k ets t a r gets). A de t ailed discussion o f principal risks and r el a t ed e q uity c o n v ersions and tran s a c tion c osts. in which the Company operates. In some cases, you uncertainties which may cause actual results and c an identi fy f o r ward - looking s t a t ements by ev ents to di ﬀ er m a t eria l ly f rom such f o r ward - looking U se Of T rademar ks terminology such as “pro forma”, “may”, “should”, statements is included in the section titled “Risk This Presentation contains trademarks, service marks, trade names and c opyrights o f Su r f A ir Mobilit y , “estimate”, “anticipate”, “believe”, “predict”, “potential” These are not the only risks and uncertainties that the Southern, and Surf Air Global Ltd. and other companies, which are the property of their respective owners. I ndust ry And Mar k et D a t a U nless othe r wise indi c a t ed, in f orma tion c on t ained in this presentation concerning the Company’s industry, c ompetiti v e position and the ma r k ets in which it based upon assumptions with respect to future Forward - looking statements speak only as of the date operates is based on information from independent decisions, which are subject to change. Actual results they are made. Prospective investors are cautioned industry and research organizations, other third - party sources and management estimates. Management estimates are derived from publicly available in f orma tion r eleased by independent indust r y analysts and other third - party sources, as well as data from the Company’s internal research, and are based on assumptions made by the C ompa ny upon reviewing such data, and the Company’s experience in, and knowle d ge o f , such indust r y and ma r k ets, which the C ompa ny belie v es to be r easonable. While the C ompa ny belie v es th a t such third - pa r ty in f orma tion is r eliable, the C ompa ny has not independently verified, and makes no representation as to the accura c y or c omple t eness o f , such third - party information. In addition, goals, targets, assumptions and estimates of the future performance of the industry in which the Company operates and the Company’s future performance are necessarily subject to uncertainty and risk due to a variety of f a c tors, including those described ab ov e. These and representation that the actual results achieved will be prepared in accordance with Article 11 of Regulation S - other factors could cause results to diﬀer materially from those expressed in the estimates made by independent pa r ties and by the C ompa n y . Disclaimer © 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3

© 2 0 2 3 S U R F A I R M O B I L I T Y Example illustration of point - to - point regional flight network WH Y I T M A T TER S I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 If y ou ma k e planes ele c tri c , e v e r y one c an af f ord it As flying bec omes cheaper f or both passengers and oper a tors, w e c an r eim a gine r egional mobility

LAR GE ADDRE SS ABLE MARKET Ele c tric airplanes wi l l unlock a new mass transit solution W e c an r eplace long dri v es and o v e r cro w ded c omme r cial airpo r ts with seamless poin t - to - point air tr a v el (1) “Short - haul flying redefined: The promise of regional air mobility”, McKinsey & Company 2023 (2) “ R egional A ir Mobility”, NASA 20 2 1 I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 “Inn o v a ti v e propulsion … c ould usher in a new era of frequent, convenient passenger flights on sma l l r egional ai rcraf t . ” Mc K insey & C ompa ny M a y 20 2 3 © 2 0 2 3 S U R F A I R M O B I L I T Y $75 - 115B Global T AM by 2 0 35 1 ~5000 A irpo r ts a vailable f or public use in the U .S. 2 “Regional Air Mobility (RAM) will f undamen t a l ly change how w e tr a v el by bringing the c o n v enience, speed, and s a f ety o f air travel to all Americans, regardless of their proximity to a travel hub or urban center.” NASA April 20 2 1

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 Es t ablished R egional A ir Mobility (“RA M ”) pl at f orm (1) B y scheduled depa r t u r es F as test p a th to electrification - U pgrading e xisting ai rcraft through de - ris k ed & capital - efficient Supplemental Type Certification - Exclusive relationship with Textron Aviation - Dual - certification: Hybrid & Fully - electric variants 1 O U R A P P R O A C H Note: all ex99-1s represent an illustrative configuration of the EP1 aircraft and powertrain - W e own the la r gest c ommu t er airline in the U .S. - Large Caravan fleet order creates competitive advantage - Of f - fleet oper a tor pl a t f orm - Rapidly scaling platform to plug in future electrified aircraft U ni q uely positioned to c omme r ciali z e ele c tric ai r craft I n v estment in elec trifi c a tion t echnolo g y and ne t wo r k gro w th wi l l he l p us win the space

$101M WHERE WE FIT PUBLIC REVENUE C O N S U M E R SE R VIC E S U R F A I R M O B I L I T Y UNI Q U E A D V AN T A G E S Unique, exclusive relationship with largest general aviation manufacturer Flying passengers tod a y on es t ablished c onsumer brands Speed to ma r k et by using e xisting airpo r t in f rastru c t ur e Capi t al - e fficient outsou r ced R&D (1) Sou r ce: Crunchbase (2) Source: Yahoo Finance & Dealbook (3) Y ahoo F inance, ’ 22 Blade A ir Mobility In c . (4) Reflective of current funding agreements (5) U n a udi t ed pro f orma c ombined r e v enue f or the y ear ended December 31, 2022 D if f e r enti a t ed mo a t vs. peers ELE C . IP $1 2 1M MARKET CA P / V A L U . $8 5 0M CAPI T A L 2 $1 4 0 - 2 10M $ 5 0M $2.4B $886M $146M 3 $ 2 30M $ 4 15M $2B $1.1B $5B $2.2B $ 5 4 0M $1.3B 4 Future Future Future RAISED 1 5

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 P A R T N E R S H I P S ( 1 ) Unprecedented c omme r cial r el a tionships Our leading position in r egional air mobility has enabled us to put c omme r cial r el a tionships in place with industry - leading companies across the value chain Exclusive relationship to electrify Cessna Grand Caravan EX Electrified Caravan will be distributed by Textron Aviation to global customer base Large fleet order guarantees pricing and supply to scale RAM platform Co - developing definitive software / AI solutions for RAM industry L e ver a ge AI & ML f or A CaaS 2 produ c t (1) B y units sold (2) Aircraft - as - a - Service (ACaaS) is a product SAM intends to oﬀer, bundling aircraft leasing, powertrain maintenance and operating software for both conventional internal combustion and electrified aircraft Aircraft One o f the la r gest general a vi a tion manu f a c t u r ers 1 Software L eading developer o f pl at f orms f or d a t a - dri v en & AI oper a tions Certification T ie r - 1 aerospace supplier to top OEM s Certifying demonstrated electrification technology for Cessna Caravan E x clusi v e a gr eement f or C essna Car a van models SAM wi l l own Supplemen t al T y pe C e r tifi c a tion IP

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 P A R T N E R S H I P S ( 2 ) Pilot pipeline agreement creates competitive advantage for pilot recruitment Aircraft financing La r gest global ai r craft lessor f or c omme r cia l ly - oper a t ed t u rboprops Pilots La r gest r egional airline in the U .S. Ground oper a tions W orld ’ s la r gest ne t wo r k o f F i x ed Based Oper a tors Our leading position in r egional air mobility has enabled us to put c omme r cial r el a tionships in place with industry - leading companies across the value chain Unprecedented c omme r cial r el a tionships Efficient o ff balance sheet financing o f up to $ 4 5 0M o f ai r craft Fl e xible c api t al to seed ai r craft financing program Jetstream to order electrified powertrain for existing customer base Preferred ground infrastructure in our key markets F u t u r e Sus t ainable A vi a tion F uel pr o vider Potential to co - develop ground infrastructure for RAM expansion

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 F L Y WHEE L O F G R O W T H (1) Aircraft - as - a - Service (ACaaS) is a product SAM intends to oﬀer, bundling aircraft leasing, powertrain maintenance and operating software for both conventional internal combustion and electrified aircraft U ni q ue business f uels gro w th o f r egional air mobility ma r k et An in tegr a t ed model enables passenger (B2C) and oper a tor (B2B) e xpansion with elec trifi c a tion expanding margins and accelerating growth further. 2 A i r craf t - a s - a - Se r vic e 1 L easing + S o f t wa r e f or oper a tors 1 Ne t wo r k Expansion G rowing passengers & oper a tors 3 Elec trified A i r craft Se l ling elec trified po w e rtrains & main t enance se r vices to oper a tors

EP1 Planned range e xpansion via periodic upgrades 100% 50% Designed so th a t no char ging s t a tions a r e needed Sus t ainable F uel Capable 50% 25% 2 Cost R edu c tio n 2 Emissions R edu c tion 1 2 3 3 © 2 0 2 3 S U R F A I R M O B I L I T Y INTR ODUCING THE EP1 EP1 ELECTRIC EP1 HYBRID (1) Based on management’s analysis and subject to various assumptions including, among other things, airplane useful payload, no increase in propulsion system weight compared to ‘baseline’ combustion model and the availability of 350 W*h/kg batteries (2) Targeted maximum direct emissions reduction compared to ‘baseline’ combustion Grand Car a van ai rcraf t . (3) Targeted maximum direct operating cost, energy and engine maintenance, reduction c ompar ed to ‘ baselin e ’ c ombustion G rand Car a van ai rcraf t . I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 Our first ai r craft: Ele c trified C essna G rand Car a van EX

1 Owned & oper a t ed fleet U pgrade Su r f A i r ’ s e xisting fleet and new order o f up to 1 5 0 ai r craft Operator r el a tionships Deploy aircraft to operator partners through Aircraft - as - a - Service (ACaaS) 1 product OEM di r e ct distribution E x clusi v e s ales & ma r k eting a gr eement with T e xtron A vi a tion 2 3 C O M M E R C I A L I Z A T I O N S T R A T E G Y (1) Aircraft - as - a - Service (ACaaS) is a product SAM intends to oﬀer, bundling aircraft leasing, powertrain maintenance and operating software for both conventional internal combustion and electrified aircraft © 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 W e l l - d e fined c omme r cial p a th to ma r k et Electrifying one of the world’s most prolific aircraft leverages existing scale and manufacturer’s distribution to bring electric planes online

$ 101M P assengers ~ 4 50K ~75K 48 Flights Destin a tions F ast growing mobility pl at f orm with di v ersified r e v enue st r eams I M P A C T O N B U SIN E S S (1) Scheduled Service includes Surf Air scheduled service revenue and Southern Passenger revenue and Other revenue. (2) EAS is Southern Essential Air Service and other subsidy revenue. (3) On Demand includes Surf Air on demand revenue and Southern charter revenue. I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 O U R A I R M O B I L I T Y NE T W OR K T O D A Y © 2 0 2 3 S U R F A I R M O B I L I T Y W e a r e the la r gest c ommu t er airline in the U .S. by scheduled depa r t u r es 2 0 2 2 Revenue ~47% Scheduled air se r vice 1 ~ 3 2 % Recurring g o v ernment c ontra c ts 2 ~ 2 1% Of f - fleet pl at f orm 3

Illustrative visualization of regional ne t wo r k shown 1. W e d e fi ne “ tier 1 " rou t es as those rou t es (1) th a t a r e pa r t o f the la r gest U .S. 100 to 5 00 mile tr a v el ma r k ets measur ed by annual trips t a k en be t w een a n y t wo metros in the U ni t ed S t a t es; (2) with airpo r t pairs optimi z ed on the zip c ode le v el using demographic data such as household in c ome, STEM empl o yees and property value; (3) that typically do not h a v e di r e ct airpo r t - to - airpo r t c ompetition; and (4) based on a r egional air mobility c onsumer p r e f e r ence and price point su r v ey o f approximately 2,500 people in the U ni ted S t a t es and the E uropean U nion, as w e l l as mana gement ’ s analysis, we belie ve c an suppo r t operations pre - electrification with a v er a ge f a r es o f appr o xim a t ely $ 2 5 0 to $300 per se at per tri p . NE T W OR K G R O W T H © 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 We plan to grow our network across ~30 U .S. r egional ne t wo r ks with ~200 tier 1 rou t e s 1

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 2022 On demand pl at f orm s t a ts W e belie ve our gro w th wi l l c ome f rom A v er a ge bookings per month A v er a ge $ per booking A v er a ge flight range ~220 ~$8000 ~500 miles Str a t egic supplement within scheduled se r vice ma r k et Branded, dif f e r enti a t ed e xperience D T C pl a t f orm t echnolo g y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 F ocus on r egional ma r k et HIGHLIGHTS REVENUE HIGHLIGHT On Demand r egional cha r t er T ech - enabled r egional cha r t er pl a t f orm th a t re - organizes and makes existing aircraft & pilot assets mo r e accessible within a marketplace Asset - light T ech - enabled D T C pl a t f orm Not supply c onstrained © 2 0 2 3 S U R F A I R M O B I L I T Y

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 2023 EAS s t a ts EAS rou t es in the ne t wo r k EAS rou t es added in the last 12 months 3 y ear a v er a ge r enewal r a t e A v er a ge annual c ontra c t value 19 8 100% $2.8M W e belie ve our gro w th wi l l c ome f rom (1) Subsidized EAS reports May 2023, U.S. DOT T o t al EAS ma r k et si z e 1 EAS rou t es 1 + $ 4 00M 1 7 8 I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 G o v ernment c ontra c t ed P r o fi table rou t e ec onomics HIGHLIGHTS REVENUE HIGHLIGHT Recurring Essential A ir Se r vice (“EAS”) H igh q uality r ev enue base with upside gro w th po t ential as w e c ontinue to e xpand our EAS ma r k et f ootprint Strong ma r k et position © 2 0 2 3 S U R F A I R M O B I L I T Y

© 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 Key dri v ers Open new rou t es R o l l out fleet order Expand margin with electrified fleet Key ou t c omes 2 0 2 3 2 0 25 L ong T erm $1 0 7 .5M I M P A C T O N B U SIN E S S P R O F ORM A REVENU E G R O W T H O UT L OO K (RANG E S ) $ 2 10M No t e: R ev enue gro w th g uidance $ 2 30M $112.5M 20% - 2 5% R e v enue C A G R 1 35% - 4 5% gross pr o fit traje c to r y L o w er emissions Expanded r e v enue st r eams f rom elec trifi c a tion Massi v e ne t wo r k o f passengers and pilots Our business c an be the ma r k et leader in r egional air mobility W e belie ve our c ommitment to elec trifi c a tion will allow our business to achieve rapid growth and e xpand ma r gins

M&A Consolidator of regional air mobility services W e know oper a tors, ai rcraf t , r egional ne t wo r k t a r gets Elec tri f ying other ai r craft R epli c a ting our uni q ue approach across the t u r boprop c a t ego r y In pa r tnership with P alantir & Jetst r eam U pside dri v ers WHA T ’ S NEXT I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3 Electrification technology we’re de v eloping is s c alable to other ai r craft t y pes © 2 0 2 3 S U R F A I R M O B I L I T Y A i r craf t - a s - a - Se r vic e 1 Enterprise software, aircraft finance & leasin g , and ability to bring to ma r k et other clean - sheet ai r craft (1) Aircraft - as - a - Service (ACaaS) is a product SAM intends to oﬀer, bundling aircraft leasing, powertrain maintenance and operating software for both conventional internal combustion and electrified aircraft

S U R F A I R M O B I L I T Y | © 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R D A Y | J U N E 2 0 2 3 E x ecuti v e t eam SU D H I N S H A H A N I Co - founder LIA M F A YE D Co - founder ST AN LIT TLE Chi e f E x ecuti v e Officer DEANNA WHITE Chi e f F inancial Officer F ormer CEO & C F O , Bombardier Fl e xjet D A V I D A N D E R M A N Chi e f L egal Officer F ormer GC, SpaceX & L ucas F ilm ID O G R UBE R GE R Chi e f Str a t e g y Officer F ormer c onsul t an t , BCG FRED REID Global Head o f BD F ormer CE O , V i r gin Americ a F ormer P r esiden t , L ufthans a & Del t a KEN BIELER VP o f T echni c al Oper a tions F ormer D i r ec tor E ngineerin g , V i r gin Americ a

S U R F A I R M O B I L I T Y | © 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R D A Y | J U N E 2 0 2 3 CAR L ALBE R T Board o f di r e c tors E D MA D Y T Y L E R P A I N T E R T Y B L A N D JOH N D ’ A G O STIN O B R UC E H A C K SU D H I N S H A H A N I ST AN LIT TLE © 2 0 2 3 S U R F A I R M O B I L I T Y I N V E S T O R P R E S E N T A T I O N | S E P T E M B E R 2 0 2 3