Apex AeroVentures Global Aviation Business Plan — Confidentiality & Important Notice

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Confidentiality & Important Notice

This document (the “Business Plan”) has been prepared by Apex AeroVentures Global Aviation (Pty) Ltd (the “Company”) to assist prospective equity investors and lenders in evaluating a possible participation in the funding of the Company’s aviation platform. It does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities, nor shall it form the basis of any contract or investment decision.

The financial projections are forward-looking. Headline revenue and EBITDA reflect the sponsor’s commercial projections and are preserved exactly. Everything beneath EBITDA, component depreciation, aircraft-finance interest, South African corporate taxation and working capital, has been independently re-derived by the analyst on a stated set of assumptions; the balance sheet ties to zero in every year by construction and is machine-verified. Where the re-derivation surfaces material findings, most importantly the aviation-fleet J-curve of early-year losses, and the additional capital required beyond this raise, these are disclosed transparently in Section 18 rather than smoothed. Actual results may differ materially.

By accepting this Business Plan, the recipient agrees to keep its contents confidential and to use it solely for the purpose stated above. Aviation-market statistics are directional estimates from public industry sources current to mid-2026 and should be re-verified in due diligence.

NoteOn the figures in this plan

Revenue and EBITDA are preserved exactly as briefed. All statements below EBITDA are independently modelled: component depreciation on the R348 million initial depreciable asset base (and the growing fleet), interest on aircraft-finance debt, 27% corporate tax with assessed-loss carry-forward, and working capital. The three statements integrate and the balance sheet ties to zero every year. Two findings are material and disclosed up front: the platform is loss-making in Years 1–2 on a fully-loaded basis (the normal aviation-fleet J-curve), and the R420 million funds Phase 1–2, scaling the fleet to the Year-5 revenue requires further aircraft debt and follow-on equity.