Eve Holding, Inc.

Greetings and welcome to the EVE Air Mobility second quarter 2023 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Lucio Aldworth, Director of Investor Relations. Thank you, Mr. Aldworth. You may begin.

Thank you, operator. Good morning, everyone. This is Lucio Aldworth, the Director of Investor Relations at EVE, and I wanted to welcome everyone to our second quarter 2023 earnings conference call. I have here with me co-CEOs Jerry DeMuro and Andres Stein, as well as our CFO Eduardo Couto. After their initial remarks, we're going to open the call for questions. We've got a deck with a few slides and additional information that's available in our website at ir.evairmobility.com, so please feel free to download it and follow through the presentation. Let me first say that this presentation includes forward-looking statements or statements about events or circumstances that have not yet occurred. We based these statements largely on our current expectations and projections about future events and financial trends affecting our business and our future financial performance. These statements are subject to risks, uncertainties, Assumptions, including, among other things, general economic, political, and business conditions, both in Brazil and in our markets. The words believe, may, will, estimate, continues, anticipates, intends, expects, in similar words, are intended to identify forward-looking statements. And we undertake no obligation to update publicly or revise any statement because of new information, future events, or other factors. In light of these risks and uncertainties, the future events and circumstances discussed in this presentation might not occur. Our actual results could differ substantially from those anticipated in our forward-looking statements. With that, I will now turn the presentation over to Jerry. Jerry?

Thanks, Lucio, and good morning, and thank you to all for joining the call today. Over the past few months, we've continued to make meaningful progress on our eVTOL development and the other aspects of our overall business plan. As announced at the Paris Air Show, we've progressed to the point in our optimization work that we have now defined what we consider to be the final aircraft configuration, which is depicted here. And I'll talk a little bit more about the details of that configuration on the next slide. We've reached this point in our development program by applying the findings most recently from the wind tunnel testing and a whole suite of test rigs, which provide actual performance data to validate our simulations and predictive modeling. Stein will talk a little bit more about these tools that we've used in our development process a little later. Importantly, we have now identified the suppliers as well for several long lead aircraft subsystems. They include the electric motors, the energy and storage management systems, and the propellers. We plan to select and announce the providers for avionics, actuators, and flight control systems in the next few weeks. And then we will move on to the less time-critical elements through the balance of the year. We also have some late-breaking news which we'd like to talk about, and that is that the FAA has agreed to recognize the primary certification and the certificate process through ANAC, which will allow us to do the dual validation, which is so critical to our development program. We still expect that our certification basis will be approved by ANAC in this calendar year. I'd now like to talk a little bit more about the final design configuration as shown here on slide three. It includes a new empennage fixed to the center booms that are then attached to the wings, providing a more robust physical structure. It also includes one pusher with dual motors or redundant motors and eight lifters, which benefits both weight and safety of the vehicle. The DNA of our simple lift and cruise design remains unchanged. It is designed for efficient and safe travel and targeting 99% of the urban missions. The cabin will continue to house up to four passengers and a pilot. We continue to make refinements in the cabin structure based on the mock-up, which we unveiled to investors earlier this year and have taken on a worldwide tour to get customer and user feedback. Based on that feedback, we've made various enhancements including the baggage compartment, which we believe continues to be the best in class and is particularly adapted for airport and downtown shuttle services. With our main suppliers known and specifications for those components defined, we can now start to assemble parts for our full-scale production prototype. We will begin assembly of that prototype by the end of the year and, in fact, have already started to cut components And then we will begin the test campaign sometime next year. Now, moving to the next slide, we announced at the Paris Air Show the selection of several of our main suppliers, BAE for the energy management and energy storage systems, Duke for the propellers for both the pusher and the lifter, and NIDAC Aerospace, which is a JV between NIDAC Corporation and Embraer for the electric motors, which will be bespoke for both the lifters and the pusher. As you may recall, selecting suppliers was one of the main milestones we established for 2023, and we continue to be on track with that milestone. And as I mentioned earlier, achieving this will allow us to start building our first prototype, and recently we received tooling and began cutting material for the wings. And you'll see that on the next slide. Last and certainly not least, I want to mention the announcement that we made last week regarding Johan Bordes joining Eve as our CEO effective September 1st. Johan currently serves as the president and CEO of Embraer Services and Support, having built that organization from the ground up into a $1.3 billion global enterprise, which is one of Embraer's most successful businesses. So Johan is a well-known quantity and a perfect fit for this role. The EVE vision is to not only design and develop a groundbreaking aviation product, as well as a global support network, it is also to develop a sustainable urban air mobility ecosystem that will literally transform urban transportation on a global basis. Achieving these ambitions will require an incredible amount of talent and innovation. Having accomplished our initial goals of establishing EVE as a public enterprise and bringing that enterprise into practice, we are now going to focus on the immense challenge in the next phase and have added a very talented and seasoned executive to complement the existing team. This addition will also allow Stein, who will remain with EVE as our chief strategy officer, to increase the leadership and focus on the diverse elements of operations, infrastructure, and regulation that are absolutely essential if we're going to make UAM a reality. I will remain with the team through the end of October to support Johan's transition. And in parallel, Ken Rickey has announced his intentions to resign from the board in October, and it is intended that I would replace him at that time. I would note this change in leadership is really taking place now versus later in the year so that we can ensure a seamless transition of responsibilities and there is absolutely no rush moving forward. Now, I'd like to ask Stein to provide you more details on other important developments in the last quarter.