Eve Holding, Inc.

Greetings and welcome to the Eve Holding, Inc. First Quarter 2026 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. Should anyone 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, Lucio Albers, Head of Investor Relations. Thank you. You may begin.

Thank you, Operator. Good morning, everyone. This is Lucio Alvarez, the Director of Investor Relations at EVE, and I wanted to welcome everyone to our first quarter 2026 earnings conference call. Our CEO, Johan Bordet, and CFO, Eduardo Couto, are joining me on the call today. After their prepared remarks, we will open the call for questions. At that point, Luis Valentini, our Chief Technology Officer, will also join in to address some more technical questions. We have a deck with a few slides and additional pictures that showcase our achievements in the quarter, including, of course, the more recent stages of the test flights and of our full-scale prototype. The deck is available on our site at ir.eathairmobility.com, so please feel free to download it and follow along. And in fact, we just published on our website today a video of one of the more recent flights that features some more complex on-air maneuvers. You might want to check that out as well. Let me first mention that today's conference call includes statements about events or circumstances that have not yet occurred. These are primarily based on our current expectations and projections regarding future events and financial trends that will affect our business and future economic 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, when they take no obligation 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, which are available on our website. Now, I'll turn it over to our CEO, Johan Bourdais. Johan?

Thank you, Lucio. Good morning, everyone, and welcome to the first quarter 2026 conference call. This quarter was especially significant. As many of you know, we achieved the inaugural flight of our engineering prototype last December, after thorough development and a series of rigs and ground tests. This major milestone validated not only our building block concept but extensively testing every part but also the integration of critical systems such as fly-by-wire and fixed pitch lifter rotors. The successful first flight launched an intense flight test campaign. Our prototype completed 59 flights and logged nearly two and a half hours in the air and the completion of all planned hover phase objectives. Moving to slide 3, more than quantity, our flight content has also excelled in quality. Every flight is planned to test and validate specific aircraft component or flight metrics. In total, our engineers have already validated 130 different performance points. The prototype has reached 215 feet above the ground and now moving forward at 30 knots. As an example of the envelope expansion, our first flight in December was stationary with the aircraft climbing to 40 feet. Besides flying more frequently, longer, higher, and faster since the first flight, we have also introduced multiple on-air maneuvers to the protocols. We use a building block approach in both design and flight testing, which means we break complex systems into smaller parts test each unit until it reaches the needed maturity, and then build on these components. Each test validates specific points and allows progression to next-level, more complex phases of the campaign. As such, the aircraft has tested and validated the Autoline feature, fully controlled by the fly-by-wire system. with consistent behavior, allowing continuous envelope expansion. On slide 4, the FLY campaign has delivered meaningful knowledge gained to date. Most importantly, we confirmed that our predictive models are reliable and precise, enabling safe and confident campaign advancement. Ground effect behaves somewhat differently, but loads remain within expectations. These common small deviations help us further refine and improve our engineering models. We have better-than-expected results for motor thrust and battery performance, with noise and vibration meeting our expectations. The key takeaway is that we remain on track for further involved expansion and more complex flights. Second of which, slide 5 shows the next steps in the engineering prototype test campaign for this year. The flights up to now have been in hover mode up to 30 knots and all were completed successfully on schedule with approximately 50 flights. During the remainder of the second quarter, we will upload refined flight computer software and perform final ground tests on the pusher and actuators. This will ensure that they are fully integrated with all the other aircraft systems in preparation to initiate transitions flights. Besides software structural ground tests and layup activities that are required for the transition phase and that will last a few weeks. This is a critical opportunity that will help us validate methods, setups, instrumentation, and test techniques to continue advancing. In a nutshell, this structural and software upload phase is an investment in the maturity, safety, and predictability of the coming transition and certification paths. The transition phase will also be gradual. We will start with a partial transition, progressively increasing speed. The lifters will be engaged to provide the aircraft with the necessary vertical support. At the end of this phase, we plan to accelerate the aircraft to a full transition speed above 85 knots. At this point, the entire lift of the aircraft will be provided by the wing, meaning the aircraft will be wing-borne flight, with lifters motors off, This is the aircraft ultimate mission. Take off vertically, transition to wing-borne flight, and then transition back to vertical flight for landing procedures. After transition testing, we will introduce controlled failures, such as motor shutdown, to observe system reaction and refine the safety procedures and the pilot's protocols. Meanwhile, we are concluding the critical design review with our suppliers for each component that will be featured in our coming performing prototypes. This will allow us to release drawings and continue manufacturing components within the required specs to start testing our performing vehicle in 2027. We continue to mature our flight test campaign. our engineering prototype this year while gaining greater visibility into the certification plans for our conforming vehicles. This suggests that certification and entry to service are more likely in 2028, as we will need to fly our conforming vehicles for 12 months to complete all necessary certification tests. It is important to mention that this greater visibility gives us more confidence in the new schedule and lowers its risks. The new timeline is also important to incorporate knowledge gained from the engineering prototype to the conforming prototype and guaranteeing the maturity and performance level of our EVE-100 eVTOL, especially for range, noise, reliability, payload and lower operating cost. We are now confident that we can deliver an aircraft that is very competitive and well designed for urban air mobility missions. In parallel, On slide six, we continue to engage with authorities worldwide to advance certification for our review vehicle. We have recently performed a demonstration at the Gavião Peixoto Embraer facility in Brazil for several Brazilian authorities, including the President of Brazil. We also met with both Brazil ANAC and the USFA certification authorities at our Melbourne, Florida office to continue discussing our certification timeline. We also met with Japan, J-CAB, and ANAC to strengthen cooperation between the two agencies. Lastly, we formally applied for our EV toll tax certificate with YASA. Moving on to slide 7, we attended Verticon in Atlanta, the world's largest helicopter conference. Our goal was to raise awareness to our EV toll amongst helicopter operators. We believe that these operators will be very early adopters and see an attractive short-term commercial opportunity with them. Slide 8 shows our total pre-order backlog with approximately 2,700 aircraft valued at about $13.5 billion at the list price. Out of the 27 customers, we also have LOIs with 14 different customers for our EV talk. aftermarket services and support, as well as 21 different potential customers for our air traffic management solution called Hector. Now, I will hand over to our CFO, Edu, for the 2026 first quarter financial review. Thanks, Johan.