Surf Air Mobility Inc. FY 2026 Earnings Call

Good morning. I am Deanna White, CEO of Surf Air Mobility. On behalf of the Board, our management team, and the employees of Surf Air, I would like to welcome you to our 2026 annual meeting of stockholders. This meeting is being presided over by Carl Albert, Chairman of the Board of Surf Air Mobility, and I am conducting the business at his discretion. As previously announced, effective today, Carl is retiring from the Board and will be transitioning to the role of Chairman Emeritus to serve as an advisor to Surf Air. Shawn Pelsinger, on the nomination of Carl, was elected to be the Chairman of the Board effective today. I want to thank Carl for his years of service to Surf Air, and I look forward to working with Shawn as we develop, deploy, and commercialize SurfOS and execute on our platform strategy.

Today's meeting is being recorded and a replay will be available on the investor relations section of our website by following the link to our virtual annual meeting platform. In addition to our Board and management attendees on the call, also with us this afternoon are Dale Jawad of PricewaterhouseCoopers LLP, our independent registered public accounting firm, and Michael Patera of Gibson, Dunn, & Crutcher LLP, our legal counsel. At this time, Douglas Sugimoto, our General Counsel, will conduct the formal portion of this meeting and record the minutes.

Good morning and welcome. Today's annual meeting is being conducted live via webcast, and all participants are attending virtually. As a reminder, this meeting is being conducted in accordance with our bylaws and meeting rules of conduct, which are posted on the meeting website. If you have any questions regarding any of the four proposals on the agenda, we ask that you please submit your proposal-related questions now via the ask a question tool on the virtual annual meeting platform to ensure we have sufficient time to answer your questions before the polls close. All questions will be subject to the rules of conduct of the meeting. We have an affidavit from Broadridge certifying that the stockholders of record as of May 26, 2026, were mailed the company's proxy materials on or about June 10, 2026.

The affidavit of mailing and notice will be included with the minutes of this meeting. Heather Obi of The Carideo Group has been appointed to serve as Inspector of Elections. Ms. Obi, who is in attendance at the meeting, has taken the oath of office and is prepared to serve. Ms. Obi has advised me that we have sufficient number of shares represented at this meeting to constitute a quorum. Accordingly, the meeting is duly constituted, and we may proceed with business. It is 9:00 A.M. on July 24, and the polls are now open for voting. They will close at the conclusion of the formal portion of this meeting. Until the polls close, any stockholder may revoke or change their vote on any matter online. However, once the polls close, no further ballots, proxies, or votes or any revocations or changes will be accepted online.

If you previously voted via the Internet, telephone or mail, you do not need to take any further action. If you didn't previously vote or wish to change your vote, you may do so now by following the instructions on the meeting website. There are 3 proposals on the agenda today. The first proposal is the election of Tyler Painter and Sudhin Shahani as Class C members of our board of directors, each to serve for a 3-year term. We did not receive any other nominations for director. The second proposal is to ratify the appointment of PricewaterhouseCoopers to serve as Surf Air's independent registered public accounting firm for the 2026 fiscal year.

The third proposal is to approve an amendment to our amended and restated certificate of incorporation to effect a reverse stock split of our common stock at a ratio ranging from 2 to 1 to 6 to 1 inclusive. We will now pause to review any questions submitted on the proposals. We will only address questions related to the proposals at this time. No proposal-related questions have been submitted. We will now proceed to voting on the agenda items that I described. It is now A.M. on July 24th, and the polls are closed. No additional ballots, proxies, or votes, changes, or revocations will be accepted. I will now ask Ms. Obi of The Carideo Group to give the report on the preliminary vote results.

Thank you, Douglas. As Inspector of Elections, I've completed the preliminary tally of the votes. Based on the proxies and ballots received, the preliminary results of the voting are as follows. Proposal one, each of the board's 2 nominees have been elected to the board of directors. Each nominee was elected by a plurality of votes cast. Proposal two, the proposal to ratify the appointment of PricewaterhouseCoopers LLP to serve as Surf Air's independent registered public accounting firm for the 2026 fiscal year has been approved by the affirmative vote of holders of at least a majority of shares of the company's common stock who attended the meeting either in person or by proxy.

Proposal three, the proposal to approve an amendment to Surf Air's amended and restated certificate of incorporation to effect a reverse stock split of the company's common stock at a ratio ranging from 2 to 1 to 6 to 1 inclusive has been approved by the affirmative vote of holders of at least a majority of the shares of the company's common stock, who attended the meeting either in person or by proxy.

A final report by the Inspector of Elections will be included with the minutes of this annual meeting of stockholders. In addition, we will report the final voting results on our investor relations website and in a current report on Form 8-K within four business days from today. I will now return the floor to Ms. White.

Thank you, Douglas. This ends the formal portion of our meeting. There being no further business to come before the meeting, this meeting is adjourned. Thank you for attending Surf Air's 2026 annual meeting of stockholders. We appreciate your support. That concludes our meeting today.