Slides
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VOLATUS ACQUIRES AISPECO Owning the sensor platform for commercial and defence aerial intelligence. October 14, 2026 Glen Lynch, CEO Abhinav Singhvi, CFO
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) FORWARD - LOOKING INFORMATION 2 This presentation contains forward-looking information within the meaning of applicable Canadian securities laws, including stat ements about the anticipated benefits of the acquisition of AISPECO, UAB, expected synergies, the fiscal 2027 outlook for AISPECO, integration plans, product development, and potential defence, methane-detection and uncrewed applications. Forward-looking information reflects management's current expectations, estimates and assumptions and is not a guarantee of future performance, including successful integration, retention of key personnel, customer demand and procurement timing, conversion of AISPECO's sales pipeline, exchange rates, availability of components, and receipt of applicable approvals. Actual results may differ materially. Risks specific to this acquisition include: the ability to successfully integrate AISPE CO’s operations and personnel, realization of anticipated synergies and benefits, integration costs exceeding current expectations, integration of operations across Lithuania and Canada; dependence on AISPECO's founders and key engineering staff; timing of customer orders for capital equipment; reliance on third-party sensor manufacturers and specialised components; methane-detection, uncrewed and defence applications that still require development, validation and qualification; patent applications that may not be granted as filed; and exposure to euro exchange rates. Other risk factors are described in the Company's public disclosure on SEDAR+ at www.sedarplus.ca. Synergy estimates and the fiscal 2027 outlook constitute future- oriented financial information and, financial outlooks for purposes of applicable securities laws. Such information is provided to help readers understand the expected contribution of the acquisition; they may not be appropriate for other purposes and have been approved by management as of the date of this presentation. AISPECO historical financial information is preliminary, prepared under Lithuanian accounting standards and subject to IFRS adjustments. Third-party market data has not been independently verified. This presentation refers to “Adjusted EBITDA” and “Adjusted EBITDA margin”, which are non-IFRS financial measures and non-IFRS ratios within the meaning of National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. These measures do not have a standardized meaning under International Financial Reporting Standards (IFRS) and may not be comparable to similar measures presented by other issuers. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Volatus defines Adjusted EBITDA as net income (loss) before interest, income taxes, depreciation and amortization, adjusted for share-based compensation, acquisition and integration costs, foreign exchange gains and losses, and other non-recurring items. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue. Management uses these measures to assess operating performance and believes they provide useful information to investors. The fiscal 2027 Adjusted EBITDA margin outlook for AISPECO is a forward-looking non-IFRS ratio. The most directly comparable IFRS measure is net income (loss); a reconciliation of the forward-looking measure is not available without unreasonable effort because of the uncertainty of items such as acquisition-related amortization, share- based compensation and foreign exchange. Adjusted EBITDA is calculated on the same basis as in the Company’s most recent management’s discussion and analysis, available on SEDAR+ at www.sedarplus.ca. Investors are cautioned not to place undue reliance on forward-looking information and future-oriented financial information. The assumptions underlying such information may prove to be incorrect, and actual results, performance or achievements may differ materially from those expressed or implied by such information. Forward-looking information is provided as of the date of this presentation. Volatus undertakes no obligation to update it except as required by law. This presentation is not an offer to sell or a solicitation of an offer to buy any securities.
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) COMPLETING THE STACK Volatus builds & flies the aircraft. AISPECO builds the eyes. Now we own both. Every survey, patrol and surveillance flight depends on the sensor pod. Now Volatus designs, builds and sells it to commercial and defence customers, and earns a margin on the hardware as well as the flight. ~50 systems sold ~C$5.72M revenue in FY2025 5 active continents 2 engines commercial and defence, one patented modular architecture 3
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) TRANSACTION AT A GLANCE US$10.5M Base consideration: US$3.0M cash + US$7.5M in Volatus shares ~70% Paid in FLT shares; cash at closing limited to US$3.0M US$2.5M Maximum earn-out, tied to financial, commercial and product milestones over 3 years ~C$10M AISPECO FY2027 revenue outlook, 8-12% adj. EBITDA margin What we bought: 100% of AISPECO, UAB (Vilnius, Lithuania), C$5.72M FY2025 revenue, with 26FTE and founders Mantas Vaskela (CEO) and Rokas Adiklis (CTO) and the key leadership team staying on to lead it. How we paid: US$3.0M cash and US$7.5M in FLT shares at a 20-day VWAP from closing, plus up to US$2.5M earn-out. Maximum US$13.0M. Closing subject to TSX approval. Forward-looking Disclaimer – refer Slide 2 4
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) MEET AISPECO Vilnius-based maker of airborne geospatial data collection pods: LiDAR, optical, thermal, hyperspectral and gas sensors in one modular system, for commercial and defence missions. Founded 2020 Engineering, production, support and sales in Vilnius, Lithuania C$5.72M 2025 revenue, more than 2x 2024 ~50 systems Sold since 2020 across North America, LATAM, Europe, Asia and Australia Global channel Distribution partners in France, Spain, Australia and the US OEM partnerships RIEGL, Phase One, Teledyne-Optech, Sony, HySpex, Trimble Applanix, InfraTec Commercial customers KCSI Aerial Patrol, Geodigital International, Manitoba Hydro, OGE, Elia Group Defence customers A North American defence prime; border, wildfire, and coastal surveillance programs 2025 financials prepared under Lithuanian accounting standards and subject to IFRS adjustments. 5
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) TWO ENGINES, ONE PLATFORM COMMERCIAL ENGINE MARKETS Power & utilities · Pipelines & energy · Rail · Forestry · City & 3D mapping PROOF TODAY ~50 systems sold; KCSI, Manitoba Hydro, OGE, Elia Group; customers report up to 68% fewer survey flight miles NEXT Methane detection (in validation) · Remote operations service · HELIUX ATOM for drones DEFENCE ENGINE MARKETS ISR · Border security · Coastal & maritime surveillance · Terrain data for autonomous navigation PROOF TODAY Purchase order from a North American defence prime; border patrol and coastal surveillance programs NEXT SAR installations · Discreet operations · Pods for jets and large UAVs · Military qualification ONE PLATFORM: the same pods, CORE electronics and ROBINCOP software serve both engines. One R&D budget, two markets, built in NATO-allied Lithuania and Canada. 6
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) PRODUCT PORTFOLIO Patent pending HELIUX LITE The only travel-ready pod ▪ Stabilizers inside the pod ▪ Swap sensors, keep the pod ▪ Cessna 172/182/206/208, R44/66 and more DEFENCE USE Terrain and change mapping from light aircraft HELIUX XL Certified for most helicopters ▪ Up to 9 sensors, 175 lb payload ▪ Aerial and vehicle mapping DEFENCE USE Multi-sensor border and coastal patrol HELIUX FOCUS Cuts flight time 3x ▪ AI selects the sharpest frames, so crews fly each route once ▪ EO and thermal sensors DEFENCE USE Detect, close-up and track targets Patent pending CORE + ROBINCOP Brain and cockpit ▪ NVIDIA Jetson Orin on board ▪ Modular architecture, AI ready ▪ One screen controls all sensors DEFENCE USE Remote payload control over satellite IN DEVELOPMENT Methane sensing · HELIUX ATOM for drones · SAR installations · Pods for jets and large UAVs 7
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) WHAT MAKES IT DIFFERENT 01 Mix & match sensors Combine LiDAR, RGB, NIR, thermal, hyperspectral and gas sensors in one modular pod. ▪ Any brand of sensor ▪ Upgrade a sensor without replacing the platform 02 Robotics improves acquisition Active stabilization and automated pointing keep coverage and capture targets in continuous flight. ▪ Fewer flight lines, lower cost ▪ More usable data per flight hour 03 AI on board Onboard computing runs AI-assisted pre- processing and quality checks during acquisition. ▪ Actionable data faster ▪ Less work after landing 04 Remote payload control Operate sensors from the ground over satellite or 5G. ▪ No onboard payload operator ▪ One operator, multiple payloads 05 ROBINCOP FMS All sensors on one screen, with real-time previews and full system control. ▪ Simpler workload and training ▪ No costly re-flights More data. Less flying. Greater returns. 8
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CLAMP ON. FLY. COLLECT EVERYTHING. 25+ helicopter models with approved mounting options 9 sensors on a single pod 1 pass LiDAR, imagery, thermal and gas in a single flight 9
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) COMMERCIAL ENGINE COMMERCIAL Powerline Corridor LiDAR Pipeline Patrol City & 3D Mapping Up to 68% fewer survey flight miles DAS Geospatial, at specified resolution and LiDAR density 30%+ higher sensor utilization Multiple customers, by flying more mission types Up to 10x faster targeted inspection Geocart, against its previous method Customer-reported results; results vary by mission and configuration. 10
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) METHANE: NEXT PRODUCT In validation: HELIUX LITE paired with a SWIR hyperspectral camera, designed to detect, localize and quantify methane leaks from hundreds of feet above ground. DETECT Reads methane's signature in reflected sunlight (SWIR). No temperature contrast needed. LOCALIZE Geo-referenced on every pixel via the pod's GNSS/INS. QUANTIFY Quantitative plume analysis for emissions reporting. WHY IT MATTERS FOR VOLATUS ▪ Pipeline operators fly regulated patrols every year; once validated, methane and LiDAR mapping can ride on one flight ▪ Removable between aircraft, with lower mobilization cost than a dedicated aircraft ▪ Applications: pipelines, oil and gas facilities, landfills, industrial emissions, environmental compliance The goal: one flight, mapping + methane, one accountable supplier 11 WHAT MAKES IT POSSIBLE: VOLATUS + AISPECO US market access Volatus and AISPECO already sell and operate in the US, where pipeline patrols are regulated AISPECO pod technology HELIUX LITE, CORE and sensor integration carry the SWIR camera Aviation experience Volatus’s manned flight - crews fly the patrol missions
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) REMOTE OPERATIONS COMMERCIAL Volatus control center AISPECO pods already run with a remote operator. Volatus turns that into a service: lease the pod, and our control center operates it. TODAY: AISPECO Up to US$100k saved per system per year by customers who operate the pod remotely over Starlink NEXT: VOLATUS CONTROL CENTER Customers lease the pod and Volatus operates it remotely, so no operator has to fly with it SHIP Pod shipped to the customer's aircraft MOUNT Installed in under 45 minutes FLY Flown the same day, operated remotely DEFENCE LINK the same remote control enables uncrewed and discreet missions 12
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) DEFENCE ENGINE DEFENCE Terrain Data for Drone Navigation Wildfire Detection Coastal & Maritime ISR NORTH AMERICAN DEFENCE PRIME Terrain data for drone navigation Bought a HELIUX LITE system for large-scale data collection. Multispectral and optical data build digital surface models that drones use to navigate contested environments. WILDFIRE & EMERGENCY RESPONSE Hotspot mapping Thermal and optical sensors find hotspots through smoke, map the fire line in real time and stream it to incident command for crews on the ground. COASTAL SURVEILLANCE Wide-area detection, close-up check A high-resolution mapping camera detects objects only a few pixels in size; the FOCUS gimbal triangulates the target, takes a close- up and checks vehicle parameters in real time. Customer names confidential. Use cases reflect customer deployments, discussions and target applications. No military qualification has been obtained. See forward-looking information on slide 2 13
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) DEFENCE- READY BY DESIGN DEFENCE The open, sensor-agnostic pod already flying on commercial and defence missions is the base for lower-cost ISR, border and maritime payloads. Today Defence pathway Sensors LiDAR, EO, thermal, hyperspectral, gas EO/IR, MWIR, SAR, comms and mission sensors Qualification EASA/FAA-approved mounting MIL-STD-810 / 461 / 704 Video & metadata Survey data formats STANAG 4609, MISB Data security Swappable 8 TB SSD Encrypted, zeroizable storage Platforms Crewed fixed-wing and helicopters Jets and large UAVs Pods for Jets & Large UAVs (in development) NOW Civil pods already fly defence and security missions NEXT SAR installations, discreet operations, encrypted storage THEN Pods for jets and large UAVs; military qualification Defence development follows customer requirements. No military qualification has been obtained. 14
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) BUILT FOR ALLIED DEFENCE DEFENCE NATO-Allied Supply Chain Engineered and built in Vilnius, Lithuania (NATO and EU), alongside Volatus manufacturing in Canada. Open Architecture Any sensor, any brand. No lock-in to a single ISR vendor; sensors upgrade as threats change. Lower Cost per Mission Light aircraft and commercial-grade pods cover wide areas at a fraction of the cost of closed ISR turrets. Proven in the Air ~50 systems flying, approved mounting on 25+ helicopter models, field-tested mission software. Aligned with Canada's Defence Industrial Strategy and allied demand for sovereign ISR 15
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) WHERE AISPECO FITS MISSIONS Commercial: infrastructure, energy & utilities, mapping, public safety | Defence: ISR, border, maritime, terrain data MISSION CONTROL Cortex AI for autonomy, with Valqari platform and AIRS for oil & gas mission planning and data collection, run AISPECO CORE + ROBINCOP over satellite / 5G from the Volatus Operations Control Centre AIRCRAFT Crewed fixed-wing & helicopters | V100 Viscount | V200 Vantage | V300 Vigil | Condor XL SENSORS & PAYLOADS NOW OWNED: HELIUX LITE | XL | FOCUS | CORE. Modular sensors, robotic stabilization and onboard AI, configured for each mission DATA & SERVICES Volatus processing, analytics and AIRS reporting turn captured data into deliverables; recurring monitoring and remote-operation services AISPECO fills the one layer Volatus used to buy from others 16
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) NEXT PRODUCT: HELIUX ATOM HELIUX ATOM puts AISPECO's survey-grade LiDAR and camera on Volatus drones. A lightweight payload that pairs a survey-grade laser scanner with a high- resolution camera, for drone, backpack and mobile mapping. WHAT IT MEANS FOR VOLATUS 1 One flight management system Runs on the same FMS as every AISPECO product, so crews and data workflows carry over unchanged. 2 Built for Volatus drones Integrates directly with the Volatus drone fleet, adding survey- grade mapping to commercial and defence missions. 3 Two ways to fly Operates stand-alone as a drone sensor, or inside a HELIUX pod as part of the full system. SPECIFICATIONS 2.6 kg weight with sensors 250 MP camera resolution, up to 50 W maximum power draw IP54 rated, -10°C to +40°C Specifications are preliminary } Includes Forward-looking Disclaimer. 17
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) OWNING THE WHOLE VALUE CHAIN Fly the aircraft Build the sensor Process on board Deliver the data Improve the product Every mission feeds the next product release. A competitor renting a third-party pod cannot do this: the pod maker keeps the learning. Typical drone or aircraft operator Volatus with AISPECO Aircraft and drones One category, crewed or uncrewed Operates both Sensor pods and gimbals Bought or leased from a pod maker Owns design, patent applications, approvals, production Software Supplier's closed system, one screen per sensor Owns HELIUX CORE and ROBINCOP Data Often routed through a third-party platform Captured, processed and delivered inside Volatus Markets Usually commercial or defence Commercial and defence on one platform Margin Operator margin only Operator margin plus hardware margin Crewed + uncrewed + owned sensors + owned data: one accountable supplier 18
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) SYNERGIES UP TO C$14.6M C$1.4M - C$2.6M cost and direct synergies per year by year 2 C$7M - C$12M market access: incremental revenue and addressable market 01 Own sensors on our fleet Replace third-party sensor and gas- detection kits C$0.4M - 0.6M / yr 02 Methane + LiDAR in one flight Once validated, one pod replaces two contractors on pipeline surveys C$1M - 2M / yr by yr 2 03 US pipeline & utility access AISPECO sold through Volatus O&G relationships C$5M - 8M 04 European market access Vilnius base and distributors open EU survey work C$2M - 4M 05 Defence & allied procurement Defence programs and NATO-allied buyers for ISR, border and maritime payloads Upside, not included Total range C$8.4M - C$14.6M. Management estimates; forward-looking information, not guidance and not included in any Company forecast. Also not quantified: hardware margin, one payload platform across the fleet. See slide 2. 19
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) AISPECO FY2027 OUTLOOK ~C$10M FY2027 revenue 8% - 12% Adjusted EBITDA margin ~C$5.72M 2025 revenue, >2x 2024 KEY ASSUMPTIONS ▪ Standalone AISPECO, excluding synergies and defence programs not yet contracted; IFRS; consolidated from closing ▪ EUR/CAD exchange rate of 1.60 ▪ Conversion of AISPECO's existing sales pipeline consistent with historical rates ▪ Retention of founders and key personnel; no material disruption to sensor and component supply Future-oriented financial information; see slide 2.; actual results may differ materially. Adjusted EBITDA margin is a non-IFRS ratio.. 20
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THANK YOU investorrelations@volatusaerospace.com (OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) www.volatusaerospace.com
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(OTCQX: TAKOF) (TSX: FLT) (FRA: A2JEQU) APPENDIX: GLOSSARY ISR Intelligence, Surveillance & Reconnaissance: finding and tracking activity on the ground EO/IR Electro-Optical / Infrared: daytime camera plus heat camera for night MWIR Mid-Wave Infrared: heat camera for spotting hot objects at long range SWIR Short-Wave Infrared: light band used to see methane in sunlight SAR Synthetic Aperture Radar: imaging radar that sees through cloud and darkness LiDAR Light Detection and Ranging: laser scanner that builds 3D maps GNSS/INS Satellite positioning + inertial navigation: knows where each image was taken EASA / FAA European and US aviation safety regulators STC Supplemental Type Certificate: approval to add equipment to a certified aircraft MIL-STD-810 US military environmental test: heat, cold, rain, sand, vibration MIL-STD-461 US military electromagnetic test: no radio jamming in or out MIL-STD-704 US military test for running safely on aircraft electrical power STANAG 4609 NATO standard format for aircraft and drone video MISB Motion Imagery Standards Board: rules for tagging video with time and location Zeroizable Storage that can wipe itself instantly if the aircraft is lost FMS Flight management system: software pilots and operators use to run the mission UAS / UAV Uncrewed aircraft system / vehicle: a drone and its controls VWAP Volume-weighted average price: average share price weighted by trading volume Adj. EBITDA Earnings before interest, tax, depreciation and amortization, adjusted for one-offs (non-IFRS measure) IFRS International Financial Reporting Standards: the accounting rules Volatus reports under 22