Reiterates 2025 Guidance for Five Additional Airport Sites and Operating Cash Flow Breakeven by Year End

Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) (“SHG” or the “Company”), an aviation infrastructure company building the first nationwide Home Base Operator (HBO) network for business aircraft, announced a floating-to-fixed 5-year interest rate swap with an affiliate of JPMorgan Chase Bank, N.A. (“J.P. Morgan”), resulting in a fixed rate of 4.73% on Sky Harbour’s “Sky Harbour Capital II LLC” $200MM tax-exempt warehouse facility (also with J.P. Morgan). The swap is governed by a new ISDA agreement with no Credit Support Annex (CSA) requirement.

Sky Harbour will present in upcoming in-person investor conferences including the LD Micro Main event XIX at Hotel del Coronado in San Diego on October 20th and 21st, and the Maxim Growth Summit at the Hard Rock Hotel in New York City on October 22nd and 23rd. For more information and to register for these investor conferences please visit www.ldmicro.com and www.maximgrp.com/2025-growth-summit.

Sky Harbour reiterated its guidance for 2025: (i) The Company expects to announce five new airport wins by year-end, at which point the Sky Harbour portfolio will include 23 airports in operation or development and (ii) the Company expects to achieve operating cash flow (or adjusted EBITDA) breakeven on a run rate basis by year-end.

Tal Keinan, Sky Harbour’s CEO, commented: “Sky Harbour continues to seek increasingly efficient financing to fund its accelerating growth. Site acquisition continues to perform on plan. Development is realizing new efficiencies in both pace and cost. National leasing volume has commenced a quantum step-up. We continue to refine the Sky Harbour service and operations offering, with the goal of further differentiating the HBO value proposition. We wish to thank J.P. Morgan for their innovative approach and their trust in Sky Harbour’s execution.”

Francisco Gonzalez, Sky Harbour’s CFO, commented further: “We took advantage of the recent and expected drop in interest rates and inverted yield to convert our future floating interest cost to fixed rate, thereby locking in an attractive cost of funding for the next 5 years. The 4.73% effective swapped fixed rate compares favorably to the 5.60% floating rate prevailing at the time we entered into the J.P. Morgan Facility. Also, as we continue to execute tenant leases at our new campuses, we continue to track to our objective that operating cash flow from our portfolio of campuses cover 100% of our S,G&A at the corporate level by year end.”

Greenberg Traurig LLP acted as swap counsel and Mohanty Gargiulo LLC as swap advisor, respectively, to Sky Harbour Capital II.

About Sky Harbour

Sky Harbour Group Corporation is an aviation infrastructure company developing the first nationwide network of Home-Basing campuses for business aircraft. The company develops, leases, and manages general aviation hangar campuses across the United States. Sky Harbour’s Home-Basing offering aims to provide private and corporate residents with the best physical infrastructure in business aviation, coupled with dedicated service, tailored specifically to based aircraft, offering the shortest time to wheels-up in business aviation. To learn more, visit www.skyharbour.group.

Forward Looking Statements

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, including statements about the financial condition, results of operations, earnings outlook and prospects of SHG, including statements regarding our expectations for future results, our expectations for future ground leases, our expectations on future construction and development activities and lease renewals, and our plans for future financings. When used in this press release, the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of Sky Harbour Group Corporation (the “Company”) as applicable and are inherently subject to uncertainties and changes in circumstances. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. For more information about risks facing the Company, see the Company’s annual report on Form 10-K for the year ended December 31, 2024 and other filings the Company makes with the SEC from time to time. The Company’s statements herein speak only as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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