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• Private Jet Charters: On-demand access to private aircraft for individuals or groups.
• Jet Card Programs: Pre-purchased blocks of flight hours, offering fixed rates and guaranteed availability on their fleet.
• Fractional Jet Ownership: A program allowing individuals or companies to purchase a share of a private jet, providing annual flight hours.
• Aircraft Management: Comprehensive services for private jet owners, including maintenance, crew staffing, and operational support.

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• Textron Inc. (TXT)

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Jim Segrave, Founder, CEO & Chairman
Jim Segrave is the visionary Founder, Chairman, and CEO of flyExclusive, which he established in 2015. Previously, he founded Segrave Aviation, Inc. in 1994, a successful aircraft charter company that he sold to Delta Air Lines in 2010, subsequently becoming Delta Private Jets. Segrave served as President of Delta Private Jets from 2010 to 2013. His entrepreneurial endeavors also include founding LGM Ventures, LLC, which operates fixed-base operations (FBOs), a large daycare center, and a restaurant and bar. He is also a partner in the Down East Bird Dogs Baseball Team. Segrave maintains substantial control over flyExclusive through his parent company, LGM Enterprises, LLC, holding 71% of the company's voting power as of May 2024.

Brad Garner, Chief Financial Officer
Brad Garner joined flyExclusive as Chief Financial Officer in September 2024. Prior to this role, he served as Chief Financial and Compliance Officer at Hale Partnership Capital Management, LLC (HPCM) since 2015, an investment partnership focused on public equity, private equity, and real estate. During his tenure at HPCM, he also held the position of Chief Financial and Principal Accounting Officer for the publicly traded HG Holdings, Inc. from 2018 to 2022. Additionally, as CFO of Best Bar Ever, Inc., a protein bar company, he played a key role in the spin-off of non-core assets and structured multiple rounds of venture capital investment and its eventual exit.

Matthew Lesmeister, Chief Operating Officer
Matthew Lesmeister became Chief Operating Officer of flyExclusive in September 2024. He previously served as Executive Vice President & Chief of Staff for the company. Before joining flyExclusive, Lesmeister was the Vice President, Transformation and Strategy at Fox Factory Holding Corp., a publicly traded global leader in the design and manufacturing of premium products for sport and off-road vehicles. In this role, he developed investment strategies for global transformation, integrated acquisitions, and drove continuous operational improvement.

Mike Guina, Chief Commercial Officer
Mike Guina transitioned to Chief Commercial Officer at flyExclusive in September 2024. He previously held the role of President, overseeing the company's fleet, dispatch, maintenance, and pilot operations. Guina's extensive background in aviation includes serving as Executive Vice President of Delta Private Jets, where he managed operations, sales, product development, and revenue management. He joined Delta Private Jets following the acquisition of Segrave Aviation in January 2010, where he had been Executive Vice President for six years. Earlier in his career, he spent a decade with Air Partner PLC, rising to President of U.S. Operations and a board member.

Matt Liotta, Chief Business Officer
Matt Liotta joined flyExclusive as Chief Business Officer in January 2026. He concurrently serves as the CEO of Volato, Inc. His appointment follows a long-standing relationship between Volato and flyExclusive, which includes agreements for flyExclusive to manage Volato's fleet operations and acquire its aircraft sales unit.

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flyExclusive (FLYX) operates in several segments within the private aviation industry, including private jet charter services, jet club/jet card programs, and fractional ownership. The company also provides Maintenance, Repair, and Overhaul (MRO) services, though specific addressable market sizes for this segment were not readily available.

Here are the addressable market sizes for flyExclusive's main products or services:

• Private Jet Charter Services:
  • Globally, the private jet charter services market was valued at $24.12 billion in 2025 and is projected to grow to $27.38 billion in 2026. It is further projected to reach approximately USD 30 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.8% from 2025.
  • In the U.S., the private jet charter market is estimated at $28.9 billion in 2025. North America was the largest region in this market in 2025.
• Jet Club / Jet Card Programs:
  • The global Jet Card Membership market size reached USD 10.2 billion in 2024. This market is projected to expand to USD 21.4 billion by 2033, with a CAGR of 8.7% from 2025.
  • In North America, the Jet Card Membership market accounted for approximately USD 5.6 billion in 2024.
• Fractional Ownership:
  • The global fractional aircraft ownership market size reached USD 10.8 billion in 2024. It is expected to grow at a CAGR of 5.7% from 2025 to 2033, reaching a forecasted value of USD 18.1 billion by 2033.
  • North America leads the fractional aircraft ownership market, accounting for approximately USD 6.5 billion in 2024.
• Maintenance, Repair, and Overhaul (MRO) Services: null

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Expected Drivers of Future Revenue Growth for flyExclusive (FLYX)

Over the next 2-3 years, flyExclusive (FLYX) is expected to drive future revenue growth through several key initiatives:

1. Fleet Expansion and Modernization: flyExclusive plans to add approximately 20 new aircraft in 2026, aiming for more than 15% growth in flight hours and reaching an annualized run rate exceeding 100,000 hours by year-end. This expansion, coupled with the ongoing modernization of its fleet by replacing non-performing aircraft with more profitable ones, is designed to increase capacity and efficiency.
2. Growth in Fractional Ownership and Jet Club Memberships: The company has seen significant growth in its fractional sales, which surged by 56% in 2025. Fractional active membership also increased by 32% year-over-year in Q2 2025. Furthermore, higher jet club hours and an increase in active members, which reached 1,203, are contributing to recurring revenue potential. flyExclusive's strategy involves converting customers from other programs and retaining them.
3. Expansion of Maintenance, Repair, and Overhaul (MRO) Services: Revenue from Maintenance, Repair, and Overhaul (MRO) services has shown substantial growth, with external MRO revenue for Q4 2025 increasing by 52% year-over-year and full-year MRO revenue rising by 48%. This segment represents a growing revenue stream for the company.
4. Increased Fleet Utilization and Operational Efficiency: Through strategic fleet modernization and the removal of non-performing aircraft, flyExclusive has significantly improved its operational efficiency. Core fleet utilization increased by approximately 23% per aircraft, leading to more flight hours from a more streamlined fleet.
5. Strategic Acquisitions and Partnerships: The company has engaged in strategic moves such as the closing of the first half of the Volato transaction, which is expected to bring new scheduling and optimization software and contribute to bottom-line improvement. Additionally, the acquisition of Jet.AI's aviation division aims to bolster capital and expand flyExclusive's customer base. These initiatives are anticipated to broaden service capabilities and enhance revenue channels.

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Share Issuance

• Upon the completion of the business combination on December 27, 2023, flyExclusive issued 9,923,054 shares of Class A Common Stock to stockholders of EG Acquisition Corp., and 59,930,000 shares were issuable upon the exercise of LGM common units.
• In January 2026, the company completed an underwritten public offering of 2,255,639 shares of common stock at $6.65 per share, raising approximately $15 million for working capital and general corporate purposes.
• On March 6, 2026, flyExclusive issued 451,901 shares of its Class A common stock, valued at $1,333,333, to Volato as consideration for the acquisition of Mission Control private aviation software and related intellectual property.

Inbound Investments

• The December 2023 SPAC merger with EG Acquisition Corp. served as a significant event to bolster the company's capital resources.
• The business combination was anticipated to provide up to $310 million in proceeds, including $85 million from committed convertible notes.
• In March 2024, an investment vehicle managed by EnTrust Global and EG Sponsor LLC provided $25 million in preferred equity to support fleet upgrades and expansion initiatives.

Outbound Investments

• On March 6, 2026, flyExclusive acquired Mission Control private aviation software, related intellectual property, and other assets from Volato for $1,333,333, which was paid in 451,901 Class A shares.
• The company has also identified a proposed merger with Jet.AI as a potential growth opportunity.

Capital Expenditures

• For the last 12 months ending December 31, 2025, capital expenditures amounted to approximately $56.89 million.
• The company plans to expand its fleet by approximately 20 aircraft in 2026.
• A $30 million investment for a new pilot training center and headquarters in North Carolina has been announced, with groundbreaking projected for 2028.