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	Sep '25 Sep 30, 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	17.27	1.56	1.26	3.68	8.81	0.19
Cash & Short-Term Investments	17.27	1.56	1.26	3.68	8.81	0.19
Cash Growth	2442.53%	24.04%	-65.89%	-58.16%	4535.84%	-
Accounts Receivable	6.72	4.5	3.74	4.13	0.7	0.07
Other Receivables	-	-	0.08	0.2	-	-
Receivables	6.72	4.5	3.82	4.33	0.7	0.07
Inventory	3.3	3.1	2.98	3.76	0.69	0.06
Prepaid Expenses	1.53	2.05	1.26	1.28	0.61	0.02
Restricted Cash	0.55	0.24	0.43	-	-	-
Other Current Assets	0.78	0.52	0.77	0.72	0.19	0.06
Total Current Assets	30.15	11.98	10.5	13.78	10.99	0.39
Property, Plant & Equipment	9.09	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	12.6	13.54	4.77	4.13	5.81	4.08
Total Assets	72.59	57.8	26.88	29.2	22.67	6.03
Accounts Payable	1.79	3.82	2.84	2.8	1.56	0.02
Accrued Expenses	1.94	1.58	1.51	0.59	0.27	0.06
Short-Term Debt	0.15	0.95	7.08	3.54	0.16	0.1
Current Portion of Long-Term Debt	2.25	11.55	2.25	2	0.2	0.06
Current Portion of Leases	0.99	0.77	0.54	0.33	0.28	-
Current Income Taxes Payable	-	-	-	-	-0.23	0.01
Current Unearned Revenue	0.15	0.62	0.21	0.07	0.51	0.03
Other Current Liabilities	0.4	1.07	0.25	0	0.86	0.05
Total Current Liabilities	7.66	20.37	14.7	9.33	3.62	0.33
Long-Term Debt	18.05	9.56	7.87	6.9	2.71	0.36
Long-Term Leases	1.09	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	26.8	31.47	24.34	18.78	7.41	0.72
Common Stock	74	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	-47.75	-32.58	-19.44	-7.13	-2.35	0.44
Comprehensive Income & Other	20.42	12.74	8.82	7.8	4.51	-
Total Common Equity	46.88	26.99	2.96	11.84	14.27	3.43
Minority Interest	-1.3	-0.94	-0.77	-1.78	0.29	1.19
Shareholders' Equity	45.79	26.34	2.54	10.42	15.26	5.32
Total Liabilities & Equity	72.59	57.8	26.88	29.2	22.67	6.03
Total Debt	22.52	24.07	18.73	13.58	4.43	0.52
Net Cash (Debt)	-5.24	-22.51	-17.47	-9.9	4.37	0.58
Net Cash Growth	-	-	-	-	652.97%	-
Net Cash Per Share	-0.01	-0.07	-0.08	-0.09	0.05	0.01
Filing Date Shares Outstanding	613.22	468.84	124	113.94	101.84	76.92
Total Common Shares Outstanding	613.22	468.84	124	113.94	101.84	76.92
Working Capital	22.49	-8.39	-4.19	4.45	7.37	0.07
Book Value Per Share	0.08	0.06	0.02	0.10	0.14	0.04
Tangible Book Value	13.53	-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	13.85	14.4	12.79	11.09	4.87	-
Construction In Progress	1.52	1.22	0.48	0.1	-	-
Leasehold Improvements	1.28	1.28	0.41	0.4	0.02	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.