New Horizon Aircraft Ltd. Class A Ordinary Share Investor update

Hello, this is Craig Brelsford with RedChip Companies. Thank you for joining today's event with New Horizon Aircraft, which trades on the Nasdaq under the ticker HOVR. With us today, we have Brandon Robinson, Chief Executive and founder. We will begin with a brief presentation in a moment, and then we will open the event to your questions. Welcome to everyone joining us today on X, YouTube, LinkedIn, and other social media platforms. To submit your question, we invite you to join us on Zoom. Use the posted event link. Once in Zoom, click the Q&A button at the bottom of your Zoom window and type your question into the text box. Before we begin, please allow me to read the safe harbor statement. This call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

All statements pertaining to future financial and/or operating results, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management, constitute forward-looking statements. Of course, forward-looking statements involve risks and uncertainties. Brandon, please go ahead. Okay.

Thanks, Craig. Really appreciate it. And thanks, folks. Really appreciate your time today. If you take nothing more away from this presentation, it is that we are building this aircraft that is on the primary screen right now. For those uninitiated, this aircraft can take off and land vertically just like a normal helicopter. When it moves forward, it can transition with some really cool technology to change into that of just a typical aircraft, which is a lot faster than a typical helicopter, and a lot safer in many different ways. Essentially, helicopter capability, so VTOL capability, but about twice as fast, about five times the range of the all-electric eVTOLs in this space, and very much a complementary service.

Anyone who is building out a portfolio in this space, some of the major players, Joby, Archer, Beta, they are going to do some great work over shorter ranges. This machine is built for bad weather, cold weather, longer distances, and has a lot more fuel reserves on board, and we can touch on that. Instead of just within cities, this is very much a between cities, tough machine built by a company led by an ex-fighter pilot that is pretty excited about it. So been through a flight test program on a large-scale prototype. We are building the full-scale aircraft right now, and it is going to, I think, catch the markets by surprise when in several months we roll this full-scale aircraft out of the hangar and start flying. Okay, for those who do not know and have not done as much research, that is totally cool. What is New Horizon Aircraft?

I was a fighter pilot in the Air Force for the better part of two decades. At the peak of my career, I was planning and leading NATO coalition missions, in training, recovering downed pilots from beyond enemy lines, that sort of thing. We always were limited in some of those more complex missions to the slowest vertical takeoff and landing aircraft in the fleet. A lot of these helicopters, amazing Blackhawks, Bell helicopters are fantastic, but they are slow, and they break a lot. Near the end of my career, my father and I, my father was running a high-tech aerospace company that was doing a lot of really cool stuff in the general aviation space, a lot of electrification of older systems, modernizing some of the more antiquated general aviation aircraft.

We got very interested in this advanced air mobility space that Joby and Archer and Beta were designing concepts for. When we looked into it, we saw a little bit of a gap forming whereby a lot of these architectures were all electric, carrying a few thousand pounds of batteries on board, and sort of in a place where their range and their operational utility would be confined to good weather. We could very much build a complementary prototype that, like I said, instead of within cities, this can go between cities twice as fast, five times the range. It has an internal combustion engine on board, which we are pretty proud about. We will talk about that in a bit. Like I said, without much competition in this space, the way the architecture came together.

Founded the company, produced the concept, and we made some incredible progress that is going to culminate in a really, really interesting next six months for us when, again, we roll out a full-scale aircraft from the hangar and begin testing, joining an elite group of companies in this space. Instead of an all-electric architecture, again, that was a little bit of a crowded space, we came up with a hybrid electric architecture. This aircraft has a Pratt & Whitney turbine engine at the heart of it, with a generator on board that produces electricity, and is seven person. So six people in the back, one person up front with a jump seat for training also. Can go up to 250 miles an hour, 500 miles range at mid loads with enough fuel reserves when you get there to your destination to give you a lot of options.

It is planned to be all-weather, so it can fly in clouds. Very few helicopters in the world are certified and very few operations for flying helicopters in clouds, so that is quite unique. As a hybrid electric machine, it can charge itself after a takeoff, when it vertically takes off. It transitions to forward flight. The generator on board recharges the batteries. Again, instead of having thousands of pounds of batteries, we have hundreds of pounds of batteries on board. When it gets to its destination, it starts its landing with full battery power.

When you land in the middle of nowhere to do a lot of really cool missions that we will talk about, it is able to recharge itself as long as there is fuel on board, which I will remind everyone who is technically oriented, fuel, jet fuel in this case, still has 30, 3 0 times amount of energy in it than the same mass of batteries would. So 12,000 watt-hours per kilogram instead of 200 watt-hours per kilogram. Once you account for efficiencies, it is about 30 to 40 times, which is pretty incredible. That gives us superior range, speed, and a lot more operational flexibility to go those longer distance at higher speed. How does the technology work and why does it work? So you see in the main wings and in the small wings at the front, called the canards, those are electrically powered lift fans.

Those spin up, they produce enough lift to lift the aircraft off the ground. Then that pusher prop at the back will spin up. That prop is attached directly to the PT6. That pushes the aircraft forward, and at a safe speed, the wings and the canards will transform. Just like we are retracting the flaps and slats in any sort of commercial aircraft, this happens. In this configuration, the aircraft flies 98% of its mission. I would highly encourage anyone to go check our YouTube video on it and see a large-scale prototype flying and going through transition, which is the hardest phase of the flight for any modern VTOL company. Ours is very simple, very safe. We stressed about it, and it turned out to be the biggest non-event ever. It is by our proprietary technology, and it works like a charm.

This is, again, how the aircraft flies 98% of its mission as a single engine turboprop aircraft, carrying, again, 6 passengers with a pilot up front, and up to 1,500 pounds of useful load, which is pretty incredible statistics. So with superior performance and versatility and a lot of layers of technology on board, I want you to focus on the column on the right. A lot of helicopter operations and VTOL operations will be highly restricted and are highly restricted by weather conditions. Said plainly, helicopters and helicopter operations, like I said before, do not like to fly in clouds, and a lot of helicopters are not certified for flight into clouds. Specifically, there is only a handful of helicopters and VTOLs that are already flying that can fly into known icing conditions. It is called FIKI. This aircraft will be able to do so.

We are targeting it to be able to do so, which is a game changer from a modern VTOL type of machine, and that distills into an operational capability that is going to be very profitable and very safe for end users across a number of different missions. Like I mentioned in the Air Force, I would have loved to have one of these things. A typical helo will travel at half the speed. Some of the faster ones, the V-22 Osprey is an amazing piece of machinery, but they are complicated to work. They have had some problems with flight safety. They are very expensive, so CAD 80,000 plus an hour just to operate. Our aircraft is a lot simpler. I would have loved to have had about 10 of these instead of one single V-22 flying around.

On the dual-use side, I love the fact that this will have an outstanding capability to support troops, allied nations around the world. Of course, we essentially built a helicopter capability that, again, can fly in bad weather, but it is twice as fast. Some of the really unique missions, besides the military utility, which is going to be off the charts, emergency medical services. Moving people, moving organs, moving any sort of time critical, maybe it is cancer in a radioactive isotope, drugs from hospital to hospital. This aircraft will get people to the hospital in almost half the time, or from twice the distance in that critical hour.

A really critical item to understand here, and we can go through the cost model a little bit in the questions, it will be up to 75% cheaper per unit mile to operate than a helicopter that can carry the same amount of stuff. Essentially, a helicopter that is twice as fast operating at 60%-75% less cost per mile is going to be pretty transformative for any emergency medical services. Of course, who would not want to travel in one of these things from point to point? NASA did a really interesting study. There are 5,000 underutilized regional airports across the U.S. alone. For me, I live north of the border in Canada. I have to travel 2.5 hours to get to Toronto International Airport. I get there 2.5 hours early.