Sky Harbour Group Corporation · NYSE:SKYH
Sky Harbour — Q2 2025 Earnings Presentation
15 slides from Sky Harbour's earnings presentation, Aug 12, 2025
Slide 1: Investor Presentation Q2 Earnings Webcast
SKYH SKYH NYSE NYSE Investor 2025 Presentation Q2 Earnings Webcast Summer 2025 August 12 , 2025 th ©2025 Sky Harbour Proprietary
Slide 2: Disclaimer
DISCLAIMER General This presentation and information provided at a webcast or meeting at which it is presented (the “Presentation") is for informational purposes only to assist investors, prospective investors and other parties in making their own evaluation with respect to Sky Harbor Group Corporat
Slide 3: Disclaimer: Financial Information; Non-GAAP Measures
DISCLAIMER Financial Information; Non-GAAP Financial Measures Certain financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X or Regulation G. Accordingly, such information and data may not be included in, may be adjusted in, or may be presen
Slide 4: Presenters
PRESENTERS TAL FRANCISCO TIM KEINAN GONZALEZ HERR Chief Chief Treasurer & Executive Officer Financial Officer SVP Finance MICHAEL TORI ANDREAS SCHMITT PETRO FRANK Chief Accounting Accounting & Business Associate & Officer Finance Manager Assistant Treasurer ©2025 Sky Harbour Proprietary 3
Slide 5: Sky Harbour Group Corp Financial Results
SKY HARBOUR GROUP CORP FINANCIAL RESULTS Construction Accelerating, Increasing Revenues COST OF CONSTRUCTION AND CONSTRUCTED ASSETS QUARTERLY REVENUES OPERATING EXPENSES* (In millions) (In millions) (In millions) 300 7 7 250 6 6 5 5 200 4 4 150 3 3 100 2 2 50 1 1 0 0 0 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23
Slide 6: Sky Harbour Capital - PABs Obligated Group
SKY HARBOUR CAPITAL - PABS OBLIGATED GROUP Step Up in 2025 with Three New Campus Openings COST OF CONSTRUCTION AND CONSTRUCTED ASSETS QUARTERLY REVENUES OPERATING EXPENSES* (In millions) (In millions) (In millions) 300 4 4 250 3.5 3.5 3 3 200 2.5 2.5 150 2 2 100 1.5 1.5 1 1 50 0.5 0.5 0 0 0 Q2'22 Q3
Slide 7: Potential Revenue Opportunity at SHER Stabilization
SITE ACQUISITION Reaffirming Guidance of 5 New Ground Lease Announcements by Year-end $200mm PABs Projected Revenue vs Current ($/RSF) $180mm Revenue Weighted Average* % Premium Potential Revenue Opportunity at SHER Stabilization 17 2022 CBRE Projected $29.08 $160mm 18 Average Expected Revenue $35.7
Slide 8: Leasing Update: Campuses in Operation, Lease-Up, and Pre-Lease
LEASING UPDATE Campuses in Operation, Lease-Up, and Pre-Lease SGR BNA OPF 1 SJC CMA BFI DVT 1 ADS 1 APA 1 IAD 1 BDL 1 Occupancy2 100% 89% 100% 100% 78% Q2 Revenue $1.4mm $5.0mm $6.3mm $4.0mm $2.9mm 42% 25% 27% 13% 6% 13% Run Rate Rentable SF1 66,080 149,069 160,092 50,411 121,171 90,058 134,270 137,
Slide 9: Manufacturing and Construction: Configured for Scale
MANUFACTURING AND CONSTRUCTION Configured for Scale Phil Amos Head of Construction David Annin Doug Bush Scott Davidson Ron Heidelberg Steven Martinez Matt Opuszenski David Sherman Dir. Development VP Special Projects VP General Contracting Head of Manufacturing VP Development VP Architecture VP Con
Slide 10: Advanced Discussions with Major U.S. Financial Institution $200mm
DRAWDOWN “WAREHOUSE” Expected Sources and Uses BANK FACILITY (In millions) $350 Advanced Discussions with Major $300 Other U.S. Financial Institution ORL 1 $250 $55 $200mm $200 POU 1 $40 Debt 5 Year Term $150 SLC $70 80% SOFR* + 2% = 5.47% BDL $100 Closing expected on or about August 28th** $50 Cash
Slide 11: Drawdown Facility Schedule
DRAWDOWN FACILITY SCHEDULE Projected Monthly Construction Spend and Facility Draws Benefits Funding Construction of ADS2, BDL, POU1, SLC, and TTN Tax-Exempt Delayed Equity Funding $35,000,000 Draw Down/Issuance as Needed Optimized Timing of General Floating Interest Rate Contracting No P
Slide 12: Q2 Highlights
Q2 HIGHLIGHTS 01 SITE ACQUISITION • 18 Airport Ground Leases • Rich Pipeline • Tier-1 SHER Targeting 02 03 04 DEVELOPMENT LEASING OPERATIONS • Next-Phase Construction Leadership in Place • Stabilized campuses enjoying higher-than- • Transition to centralized operating model, • Development processes
Slide 13: Looking Forward
LOOKING FORWARD Order-of-Magnitude Scale-Up 01 SITE ACQUISITION • Target: Max revenue capture • On course to meet 2025 acquisitions target • Team growth 02 03 04 DEVELOPMENT LEASING OPERATIONS • System in place • Team growth – veteran advantage • Resident feedback loop + evangelism • Time to execute
Slide 14: Questions
QUESTIONS ©2025 Sky Harbour Proprietary 13
Slide 15: Robust Project Returns / Scalability / Deep Competitive Moats
Robust Project Returns / Scalability / Deep Competitive Moats / Recession Resilience / Upside Optionality Contact Us: [email protected] ©2025 Sky Harbour Proprietary