Financial Outlook & Clear Path to Certification

• Strengthened balance sheet with a financing package of up to $850 million, providing access to a flexible suite of capital.
• Financing package is aligned to support key technical and operational milestones and progress towards certification.
• Ended the quarter with approximately $96 million (£73 million) of cash and cash equivalents.
• Short-term liquidity includes cash of approximately $103 million (£76 million) and anticipated near-term receipts from R&D tax reliefs (approximately $23 million / £17 million) and government grants & VAT (approximately $7 million / £6 million).
• Expected net cash outflows of between approximately $180 million and $200 million (£135 million to £145 million) over the next 12 months, reflecting continued investment in public flight demonstrations and key certification activities.
• Short-term liquidity, together with anticipated draws under available facilities, expected to provide at least 12 months runway.