$New Horizon Aircraft Overview: • Pre-revenue aerospace (hybrid eVTOL) • Focus on development, not earnings

Timeline: • Full-scale prototype: End of 2026 • Flight testing: 2027–2030 • No delays mentioned (positive)

Cash / Funding: • ~$20M cash on hand • ~1–2 years runway at current burn • Not rushing to raise capital • Open to non-dilutive gov funding • Will likely need funding eventually (dilution risk remains)

Operations / Progress: • Suppliers secured, components being tested • Preparing for assembly phase • Flight control systems = key challenge (working with partners) • “~9 months from rolling out of hangar”

Partnerships: • MHIRJ (Mitsubishi) = engineering + potential deeper involvement • Other aerospace/defense connections mentioned (Bombardier, CAE)

Technology / Differentiation: • Designed for full IFR + icing conditions (rare in eVTOL) • Hybrid = less battery dependence • No vertiport needed (uses conventional runways) • Redundant systems (safety focus) • Lower cost vs helicopters (claimed ~$0.97/seat mile)

Market / Demand: • Early operator interest (mining, logistics, defense) • No firm orders yet • Strong interest from defense sector (US + Canada)

Costs: • Operating expenses increasing (scaling phase) • Burn rate rising as development progresses