Volatus Aerospace Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	0.92	1.56	1.26	3.68	8.81	0.19
Cash & Short-Term Investments	0.92	1.56	1.26	3.68	8.81	0.19
Cash Growth	-11.16%	24.04%	-65.89%	-58.16%	4535.84%	-
Accounts Receivable	3.3	4.5	3.74	4.13	0.7	0.07
Other Receivables	-	-	0.08	0.2	-	-
Receivables	3.3	4.5	3.82	4.33	0.7	0.07
Inventory	3.22	3.1	2.98	3.76	0.69	0.06
Prepaid Expenses	1.54	2.05	1.26	1.28	0.61	0.02
Restricted Cash	0.26	0.24	0.43	-	-	-
Other Current Assets	0.53	0.52	0.77	0.72	0.19	0.06
Total Current Assets	9.77	11.98	10.5	13.78	10.99	0.39
Property, Plant & Equipment	10.87	11.55	10.64	10.32	5.28	0.3
Long-Term Investments	-	-	-	-	-	0.96
Goodwill	20.74	20.74	0.96	0.96	0.58	0.31
Other Intangible Assets	13.3	13.54	4.77	4.13	5.81	4.08
Total Assets	54.68	57.8	26.88	29.2	22.67	6.03
Accounts Payable	5.28	3.82	2.84	2.8	1.56	0.02
Accrued Expenses	1.97	1.58	1.51	0.59	0.27	0.06
Short-Term Debt	0.93	0.95	7.08	3.54	0.16	0.1
Current Portion of Long-Term Debt	11.48	11.55	2.25	2	0.2	0.06
Current Portion of Leases	0.83	0.77	0.54	0.33	0.28	-
Current Income Taxes Payable	-	-	-	-	-0.23	0.01
Current Unearned Revenue	0.23	0.62	0.21	0.07	0.51	0.03
Other Current Liabilities	1.32	1.07	0.25	0	0.86	0.05
Total Current Liabilities	22.03	20.37	14.7	9.33	3.62	0.33
Long-Term Debt	8.57	9.56	7.87	6.9	2.71	0.36
Long-Term Leases	1.38	1.24	0.98	0.83	1.08	-
Long-Term Deferred Tax Liabilities	-	-	0.28	0.62	-	-
Other Long-Term Liabilities	-	0.3	0.51	1.1	0	0.03
Total Liabilities	31.98	31.47	24.34	18.78	7.41	0.72
Common Stock	47.18	46.62	13.36	10.96	9.11	0
Additional Paid-In Capital	0.21	0.21	0.21	0.21	2.99	2.99
Retained Earnings	-36.82	-32.58	-19.44	-7.13	-2.35	0.44
Comprehensive Income & Other	12.91	12.74	8.82	7.8	4.51	-
Total Common Equity	23.48	26.99	2.96	11.84	14.27	3.43
Minority Interest	-0.98	-0.94	-0.77	-1.78	0.29	1.19
Shareholders' Equity	22.7	26.34	2.54	10.42	15.26	5.32
Total Liabilities & Equity	54.68	57.8	26.88	29.2	22.67	6.03
Total Debt	23.18	24.07	18.73	13.58	4.43	0.52
Net Cash (Debt)	-22.25	-22.51	-17.47	-9.9	4.37	0.58
Net Cash Growth	-	-	-	-	652.97%	-
Net Cash Per Share	-0.06	-0.07	-0.08	-0.09	0.05	0.01
Filing Date Shares Outstanding	472.87	468.84	124	113.94	101.84	76.92
Total Common Shares Outstanding	472.87	468.84	124	113.94	101.84	76.92
Working Capital	-12.26	-8.39	-4.19	4.45	7.37	0.07
Book Value Per Share	0.05	0.06	0.02	0.10	0.14	0.04
Tangible Book Value	-10.56	-7.29	-2.77	6.75	7.87	-0.96
Tangible Book Value Per Share	-0.02	-0.02	-0.02	0.06	0.08	-0.01
Machinery	13.84	14.4	12.79	11.09	4.87	-
Construction In Progress	1.48	1.22	0.48	0.1	-	-
Leasehold Improvements	1.28	1.28	0.41	0.4	0.02	-

Source: S&P Global Market Intelligence. Standard template. Financial Sources.