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November 3, 2026 3Q26 Earnings Presentation
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2 Legal Disclaimer Unless otherwise specified, financial information and other data in this presentation is presented as of September 30, 2026. BETA’s historical results are not necessarily indicative of the results that may be expected in the future. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” ”plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future, ”likely,” “may,” “should,” “will” and similar references to future periods. These forward-looking statements include, among others, statements we make regarding our future financial and operating performance, including our outlook and guidance; our regulatory outlook, progress and timing; our business strategy, plan, objectives, and goals; our capital needs and growth of our operations, manufacturing capabilities, and supporting infrastructure for aircraft development and deployment; plans and anticipated benefits with respect to our collaborations with third parties, including our ability to continue progressing or complete the additional EXIM financing and our ability to further progress the eIPP across all seven selections; and projected demand for our aircraft, other products, and services. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, factors as discussed throughout the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the year ended December 31, 2025, as such descriptions may be updated or amended by our Quarterly Reports on Form 10-Q, including any future reports that we may file with the Securities and Exchange Commission. Moreover, we operate in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this presentation. Any forward-looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise, except as required by law. Non-GAAP Financial Measures In addition to results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), this presentation contains financial measures that are not calculated and presented in accordance with GAAP. In addition to traditional financial metrics, we use the non-GAAP measures EBITDA and Adjusted EBITDA to help us evaluate our business. We believe that these non-GAAP measures provide useful information to investors because they allow for greater transparency into what measures we use in operating our business and measuring our performance and enable comparison of financial trends and results between periods where items may vary independent of business performance. These non-GAAP measures are presented for supplemental informational purposes and should not be considered as substitutes for or superior to financial information presented in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude certain expenses that are required by GAAP to be recorded in our financial statements, and they are subject to inherent limitations as they reflect the exercise of judgment by our management about which expenses are excluded or included in determining these non-GAAP financial measures. Further, non-GAAP financial measures are not standardized. It may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures. In addition, investors are encouraged to review our interim condensed consolidated financial statements and the notes thereto in their entirety and not to rely on any single financial measure. We define EBITDA as net loss adjusted for interest income, interest expense, provision for income taxes, and depreciation and amortization. We define Adjusted EBITDA as EBITDA adjusted for loss on issuance of convertible preferred stock, stock-based compensation, warrant expense, acquisition-related expense, asset disposal and other related costs, and IPO costs. We caution readers that our definitions of Adjusted EBITDA may not be calculated in the same manner as similar measures used by other companies. Reconciliations of the non-GAAP financial measures to their most comparable GAAP financial measures can be found at the end of this presentation.
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3 ALIA VTOL First eVTOL to Receive FAA Market Survey Authorization 3
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4 MV250 4
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5 eIPP Operations Launch Across the U.S. 5
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6 Advanced Composites Facility 6
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7 Flight with EXIM Bank Chairman John Jovanovic 7
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8 Key Performance Indicators KPI Updates – Building to Certification 8 168 >$4B 0.5/Mo Certification 1 2 3 4 5 $4B Current End of Year 2026 255,000 Current 150 End of Year 2026 4.5/Mo Current End of Year 2026 Current End of Year 2026 3 Sites Activated in 3Q26 8,426 Sessions Completed in 3Q26 +49% over 3Q25 CHARGING SITES THREE PROGRAMS Distinct and Enabling AIRCRAFT BACKLOG FIRM & OPTION ORDERS NAUTICAL MILES FLOWN BY BETA AIRCRAFT MAX DEMONSTRATED RATE Aircraft Built Per Month Continued Progress Towards Industrialization 250,000
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9 9BETA Fleet Crosses 250,000 Nautical Miles Flown
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10 Charging Network Grows to 168 Sites, Exceeds 2026 Year End Goal 10
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11 Continued Progress Towards Industrialization and Scale 11
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12 Phase 1Conceptual Design 100% Phase 2Requirements DefinitionPhase 3Compliance Planning Phase 4Implementation 100% 98% 45% H500A Engine Certification 5 12 2Q26 Key Performance Indicators 2Q26
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13 ALIA CTOL (CX300) CertificationKey Performance Indicators Phase 1Conceptual Design 100% Phase 2Requirements Definition Phase 3Compliance Planning Phase 4Implementation 100% 3% Certification BasisMeans of Compliance 89% 5 13 2Q26 100% 5%
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14 ALIA VTOL (A250) Certification Key Performance Indicators Phase 1 Conceptual Design 100% Phase 2 Requirements Definition Phase 3 Compliance Planning Phase 4 Implementation 100% 0% Certification Basis 6% 5 14 Means of Compliance 32%
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16 Third Quarter 2026 Financial Results Financial Results $8,918 $17,672 3Q25 3Q26 Revenue ($67,575) ($97,449) 3Q25 3Q26 Adjusted EBITDA Thousands, USD Continued sales momentum, 98% growth Year-over-Year Focused and disciplined capital allocation Supporting certification milestones and production readiness for scale $56,371 $90,536 3Q25 3Q26 R&D Spend 1Non-GAAP measure. A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided in the appendix to the presentation. 1
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17 Third Quarter 2026 Financial Results Financial Results Thousands, USD $12,957 $28,781 3Q25 3Q26 Capital Expenditures1 $687,627 $1,343,055 3Q25 3Q26 Cash Balance Our balance sheet supports continued investment in growth and strategic opportunities Targeted capital investment to expand manufacturing capabilities and scale 1 Represents purchases of property and equipment
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18 Guidance 2026 Annual Guidance Summary Metric Previous Current Revenue $42 – $50 Million $52 – $57 Million Adjusted EBITDA1 ($400) – ($445) Million Unchanged Capital Expenditures $150 – $200 Million Unchanged 181Non-GAAP measure. A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided in the appendix to the presentation.
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20 Financial Results Simplified Profit & Loss Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Revenue $ 17,672 $ 8,918 $ 42,463 $ 24,483 Gross margin $ 12,739 $ 6,177 $ 26,592 $ 18,813 Operating expenses $ 140,543 $ 86,751 $ 445,471 $ 256,725 Loss from operations $ (127,804) $ (80,574) $ (418,879) $ (237,912) Net loss $ (119,119) $ (437,214) $ (390,181) $ (595,909) Adjusted EBITDA $ (97,449) $ (67,575) $ (304,505) $ (200,688) Depreciation and amortization $ 6,896 $ 5,794 $ 19,369 $ 16,314 Thousands, USD
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21 Financial Results Non-GAAP Reconciliation Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net loss $ (119,119) $ (437,214) $ (390,181) $ (595,909) Increase (decrease) as adjusted for: Interest income $ (12,515) $ (2,628) $ (40,289) $ (7,348) Interest expense $ 3,678 $ 3,464 $ 10,956 $ 9,214 Provision for income taxes $ 152 $ 253 $ 635 $ 580 Depreciation and amortization $ 6,896 $ 5,794 $ 19,369 $ 16,314 EBITDA $ (120,908) $ (430,331) $ (399,510) $ (577,149) Loss on issuance of convertible preferred stock $ – $ 355,551 $ – $ 355,551 Stock-based compensation $ 11,055 $ 5,205 $ 49,145 $ 16,819 Warrant expense $ 5,760 $ 308 $ 17,091 $ 308 Acquisition-related expense1 $ – $ – $ 16,147 $ – Asset disposal and other related costs $ 6,411 $ 932 $ 12,153 $ 2,473 IPO costs2 $ 233 $ 760 $ 469 $ 1,310 Adjusted EBITDA $ (97,449) $ (67,575) $ (304,505) $ (200,688) 1Includes acquired IPR&D expense of $15,003 and direct transaction costs of $1,144 2Represents accounting and advisory expenses incurred in connection with becoming and operating as a public company Thousands, USD