FLYEXCLUSIVE Business Summary

flyExclusive Inc. (FLYX) operates as a vertically integrated private aviation platform, generating revenue through a diversified mix of membership programs, fractional ownership, and on-demand charter services. The company’s primary business segments include its Jet Club (subscription-based membership), Fractional Ownership (equity-based jet access), and a robust Charter division that services both wholesale and retail ad hoc flight demand. Additionally, flyExclusive leverages an extensive in-house Maintenance, Repair, and Overhaul (MRO) infrastructure—including paint, interior refurbishment, and avionics—to provide third-party services and optimize internal fleet availability. As of early 2026, the company has aggressively expanded its digital and brokerage capabilities through the strategic acquisition of Volato’s aircraft sales unit and Jet.AI’s aviation division. Positioned as the fifth-largest private jet operator in the United States by flight hours, flyExclusive competes directly with Wheels Up (UP), Jet.AI (JTAI), and Surf Air Mobility (SRFM), distinguishing itself through a high-utilization, owner-operator model that prioritizes vertical integration over asset-light brokerage. The company was founded by Thomas James "Jim" Segrave, Jr., a veteran aviator and entrepreneur who previously built Segrave Aviation before its 2010 sale to Delta Air Lines. Segrave serves as Chairman and CEO, leading an executive team that includes President Mike Guina, Chief Financial Officer Brad Garner, and Chief Operating Officer Matthew Lesmeister. In January 2026, the leadership team was further bolstered by the appointment of Matt Liotta (founder of Volato) as Chief Business Officer, tasked with spearheading technology development and strategic acquisitions. The company’s board and investor base feature high-profile figures such as Gary Fegel (founder of GMF Capital and former Glencore partner), Frank B. Holding, Jr. (CEO of First Citizens Bank), and Gregg S. Hymowitz (CEO of EnTrust Global). Notable institutional backing is provided by EnTrust Global and GMF Capital, which have been instrumental in the company’s transition to the public markets and its recent fleet modernization initiatives.