Eve Holding, Inc.

Good day, and welcome to the Eve Holding, Inc. Third Quarter 2025 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please sit in while conference specialists are pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To throw out your question, please press star then two. Please note, this event is being recorded. Now I'll turn the conference over to Lucio Aldworth, Director of Investor Relations at EVE. Please go ahead.

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 third quarter 2025 earnings conference call. Our CEO, Johan Borde, and CFO, Eduardo Couto, are joining me on the call today. And after their prepared remarks, we will open the call for questions, at which point, Luis Valentini, our chief technology officer, will also join us for more technical questions. We have a deck with a few slides and additional pictures that show our achievements in the quarter, as well as the testing phase of our full-scale prototype. The deck is on our site at ir.eaveairmobility.com, so please feel free to download it and follow along. Let me first mention that today's conference call includes statements about events or circumstances that have not yet occurred. These are largely based on our current expectations and projections about future events and financial trends affecting our business and our future financial performance. These forward-looking statements are based on current expectations and involve risks and uncertainties that could cause financial results to differ substantially from those expressed or implied in this conference call. And we undertake no obligations to update publicly or revise any forward-looking statements because of new information, future events, or other factors. For a more detailed list of these risks and uncertainties, please refer to our SEC filings available on our website. With that, I will now turn the presentation over to our CEO, Johan.

Thank you, Lucio. Good morning, everyone, and welcome to the 2025 third quarter conference call. We had a strong third quarter marked by several key achievements, and we continue to advance the program's development at a steady pace. We are in the final stages of testing our engineering prototype before its flight campaign starts. We announced an additional supplier for our commercial aircraft, the E-100, with a contract with Embraer for their landing gear. Additionally, the Ironbird has begun to operate and is already contributing to the testing of the actual hardware that will equip our aircraft. Our schedule remained unchanged with an expected type certification and entry to service in 2027. Starting with slide three, we have now received from Beta Technology Company all of the electrical motors for our engineering prototype. They have been previously tested and specially designed equipment and installed in their respective nacelles. As mentioned previously, we had already performed integration tests between the prototype and the remote pilot station that we also call the RPS to make sure that there is a successful communication via the dedicated radio link. As a reminder, this prototype will be remotely controlled with a pilot sitting in the RPS, and this is the white truck at the far end of the right picture. We are running the last set of tests to make sure that electrical power units were properly integrated with the inverters, battery, and other systems and subsystems in the vehicle. Therefore, we're confident in starting soon our flight campaign with our first flight by the end of this year or early next year. Slide four is about the selection of our 22nd primary system supplier. Embraer will produce landing gear for our aircraft. Embraer comes with a strong landing gear manufacturing heritage for their commercial and executive jets, as well as military aircraft. The landing gear was introduced as a result of a constant interaction between Eve and its customers, understanding how the aircraft will be operated. Now, The wheels on our EVTOL will be used for taxiing and repositioning the aircraft. This means greater energy efficiency when compared to the hovering. The landing gears also provide the capability of maneuvering the aircraft on the ground, eliminating the use of ground support equipment for the purpose, facilitating operation, and reducing time on ground. The next slide, number five, shows what is now our functional Ironbird cockpit. As a reminder, the Iron Bird is a deconstructed eVTOL in which we integrate all the different actual components on our eVTOL into a physical system to make sure that all systems work together properly. This is the interface through which the pilot will control the entire system. As you can see, the simulator has approximately 270 degrees view. and is connected with all the different rigs of the vehicle system and components. For instance, the joystick is connected to actuators and motors in another adjacent room, and they react physically to all pilots' command. All of these are connected to the avionics and the flight control computers with our fifth generation fly-by-wire control laws. The motors are connected to the battery with its own thermal management system. As much as possible, All wires and cables replicate the composition, width, and length of the actual harness that will be on our AVTOL. This assures a representative result of the simulation, allowing the Ironbird to be used as a tool for vehicle development, flight test clearance of a new feature, and product evolution, as well as optimize the test campaign. Through this strategy, we maximize the number of prototypes team lining the flight test campaign, and making the most efficient use of these assets. So not only does the Ironbird help us to better integrate and understand how all the systems work together and troubleshoot potential problems on the ground, but it also has an important role for the aftermarket benefit. The Ironbird will help us improve the system and component maturity, and these are important inputs for successful entry into service and an efficient maintenance program. In total, we have logged more than 10,000 hours of tests in this REAPS. Another advantage is that the Ironbird has also helped us to expedite and reduce the costs related to our certification campaign. Keep in mind that some tests can be performed on the ground 24 by 7, such as electrical systems, circuit breakers, et cetera, and the Ironbird becomes a very valuable development and certification tool. Moving on to slide number six, together with our customers and authorities, we are also developing a strong network of partners in different areas such as infrastructure and energy to address one of the many challenges ahead of the urban air mobility, which is to create a whole new ecosystem besides simply developing an aircraft. On the certification side, we participated in ICAO assembly in Canada. along with ENAC, the Brazilian Air Force, and other government officials, along with representatives of several other certifying authorities throughout the world. This reinforces our confidence level that we have the right approach to certify our aircraft with ENAC as a primary certifying authority. Besides that, we are increasing our presence in the Middle East with an agreement to support the adoption and growth of eVTOLs in the region with the Kingdom of Bahrain. The agreement positions Bahrain as a regional hub for electrical aviation and will accelerate its regulatory, operational, and infrastructure ecosystem for eVTOLs. The agreement also calls for EVE to possibly conduct test flight in the region in 2027. Slide 7 shows our total pre-order backlog that stands around 2,800 aircraft for a total value close to $14 billion based on the list price of 2025. This includes non-binding letters of intent from 28 different customers as well as revos per motor. Out of 28 customers, we also have secure contract with 14 different customers for EVE TechCare's suite of up-to-market product and services. which could bring up to 1.6 billion USD in revenue to EVE over the first few years of operation. As you can see, we also have 21 different customers for our air traffic management solution, Vector. And I believe this reflects the market's leading value proposition we bring to our customers. Now, I would like to invite our CFO, Edu, to review the financial results and the 2025 milestone checklist.