Eve Holding, Inc. Q3 FY2024 earnings call

• Completed assembly of the full-scale engineering prototype in July 2024, started testing; will receive lift motors in December for early 2025 flight tests. • Performed battery installation and tests, including thermal runaway containment test. • ANAC published eVTOL certification basis in Brazil, FAA issued SFAR in US; path to certification includes first flight in early 2025, conforming prototypes in 2026, final test campaign 2026-2027 leading to certification in 2027. • Launched Eve TechCare, an all-inclusive services portfolio for maintenance, training, and customer support. • Conducted successful five-day Vector simulation in Sao Paulo with Revo, validating air traffic coordination software for eVTOL and helicopter operations. • Has ~2,900 aircraft under non-binding LOIs with total value ~$14.4B, 16 LOIs for Vector, and secure contracts for TechCare suite with 15 customers.

No specific product segment financial performance with revenue contribution % discussed as the transcript does not detail separate product segments with financials.

• Certification timeline: First flight of engineering prototype in early 2025, conforming prototypes assembled in 2026, final development and certification flight test campaign in 2026-2027, aiming for certificate issuance in 2027. • Liquidity: Pro forma liquidity of $445M in Q3 2024, equivalent to three years of cash consumption. • CapEx: Production facility CapEx of ~$90M, with peak investments in 2026; cash burn expected to increase slightly in 2025, flat in 2026 compared to 2025.

• General economic, political, and business conditions in Brazil and the market could impact the business. • Uncertainties in the certification timeline due to new technology and regulatory compliance challenges. • Risks associated with successfully bringing the eVTOL to market and ensuring operational reliability and cost-effectiveness.

Q: Savanthi Syth asked about potential slip in type certification and cash burn.

A: Johann Bordais said certification timeline is a normal update for an innovative program, with first flight in early 2025, conforming prototypes in 2026, and certification in 2027; Eduardo Couto mentioned firming LOIs soon will affect PDP.

Q: Marcelo Motta asked about Taubaté plant CapEx timing.

A: Johann Bordais said peak investments in the plant are in 2026, with ~$20M in investments in 2025.

Q: Andres Sheppard asked about SFAR regulations and certification.

A: Luiz Valentini explained SFAR simplifications on training and that the certification timeline is robust considering development and regulatory progress.

Q: Sheila Kahyaoglu asked about EIS push and LOIs.

A: Johann Bordais clarified no pushback, and LOIs are 2,900 with customers engaged.

Q: Cai Von Rumohr asked about SFAR diversion requirements and service for competitors.

A: Johann Bordais discussed SFAR diversion requirements and ongoing discussions with other OEMs about service support.

Q: Austin Moeller asked about new customer conversations.

A: Johann Bordais said they are actively engaging with potential customers, including those from other OEMs.

Q: Amit Dayal asked about TechCare offering milestones.

A: Johann Bordais explained TechCare is about preparing for operational launch with focus on support, training, and reliability to ensure successful eVTOL operation.