Dear Investor,

Thank you for taking the time to consider Infinitus Aero. Together with Michael Monck and Barrie Rogers, I founded Infinitus Aero in 2022 with a clear objective: to develop an electric aircraft built around the real operational requirements of professional flight training.

My career has taken me across airline operations, offshore helicopter services, aviation consulting and flight-training management. Leading operations within one of Australia's largest flight-training organisations gave me direct exposure to the pressures schools manage every day — aircraft availability, fuel costs, maintenance requirements, resource utilisation and the need to deliver reliable training outcomes. Those experiences shaped the E22 Spark.

We are not attempting to replace every aircraft in a flight school's fleet. We are focused on the high-utilisation circuit and local-training work where electric propulsion can provide its strongest operational and economic benefits. Longer navigation and advanced training can continue to be performed by conventional aircraft, creating a blended fleet in which each aircraft is used where it makes the most sense.

Since establishing Infinitus Aero, we have progressed from an idea to two completed prototype airframes. Our major first-flight components are on hand, our battery systems are complete and our propulsion systems are in advanced development. We have also secured letters of intent covering 12 aircraft across two flight-training organisations in Australia and New Zealand.

We are now approaching the milestone that changes the character of the program: first flight. The capital we are seeking has deliberately been structured around that milestone. The initial AUD $250,000 bridge is intended to complete final prototype assembly and first flight. The larger AUD $3,000,000 production tranche follows only after first flight has been achieved and is intended to support production readiness, working capital and the initial delivery program.

For us, this is about building a commercially relevant Australian aerospace business around a clearly defined customer problem. We believe the combination of our aviation experience, disciplined development approach and focused training application gives us a strong foundation from which to move into the next stage.

Thank you for considering joining us on that journey.

Our primary customers are professional flight-training organisations operating aircraft frequently enough for improvements in operating cost, maintenance exposure and turnaround to have a material commercial impact.

Large flight-training academies are our highest-priority segment. These organisations typically operate fleets of 30 to 150 aircraft or more and can include airline cadet programs and national training academies. Our investor materials estimate approximately 300 to 500 large academies globally. Their fleet size, utilisation and centralised procurement create the potential for meaningful multi-aircraft orders.

Mid-sized professional schools represent our second major segment. These operators typically manage fleets of approximately 10 to 30 aircraft and are often highly sensitive to fuel, maintenance and replacement costs. Our market analysis estimates approximately 1,000 to 1,500 organisations in this segment globally.

Our broader addressable customer base includes military and government pilot-training programs requiring cost-efficient, low-noise primary training aircraft; regional operators and flying clubs; and international distributors or OEM partners capable of representing the E22 Spark in export markets.

Each segment shares several underlying requirements. Cost predictability is important because conventional training fleets are exposed to avgas pricing and scheduled piston-engine maintenance and overhaul cycles. High utilisation is equally important: training organisations generate value by keeping aircraft available for repeated sorties throughout the day.

The E22 Spark is therefore designed around flight-training missions conducted close to the home aerodrome, including circuit work, basic handling, pre-solo and post-solo consolidation and other local exercises. This supports a blended-fleet approach in which the E22 performs high-cycle local work while existing aircraft remain available for longer navigation and advanced requirements.

Noise is another consideration, particularly at metropolitan and community-sensitive aerodromes. Electric propulsion also provides flight schools with a practical way to incorporate lower-emission technology into their fleets.

For customers seeking to avoid a large initial capital commitment, we intend to explore lease and subscription-style commercial arrangements alongside standard aircraft purchases.

Our immediate roadmap begins with the E22 Spark's first flight.

The AUD $250,000 first-flight tranche is intended to complete final prototype assembly, pre-flight preparation and the first test flight. This milestone is important because it moves the E22 from a development-stage program into a demonstrable flight-capable aircraft and triggers the planned production-stage capital round.

Following first flight, we intend to undertake flight-test validation covering aircraft handling, endurance, charging performance and suitability for the high-utilisation training missions around which the E22 has been designed. In parallel, we will finalise the production configuration, aircraft specification, delivery schedule and customer-support package.

Our existing letters of intent will then form the starting point for a structured customer-conversion program aimed at moving interested operators toward purchase agreements, production-slot commitments and customer deposits.

The Canberra production facility will be fitted out with the tooling, quality-assurance systems and assembly capability required for initial production. Rather than investing in a purpose-built factory, we intend to increase capacity within a leased operating model as demand, workforce capability and supply-chain maturity develop.

Our base-case production plan delivers 12 aircraft in Year 1, followed by 20, 30, 40 and 50 aircraft in Years 2 to 5 respectively. The Year 5 target represents approximately four aircraft per month.

Geographically, our investor engagement strategy identifies the United States and Europe as Tier 1 international opportunities. Australia remains an important anchor market, alongside selected Middle East academies, with India and Southeast Asia identified as longer-term markets. We intend to support international expansion through authorised dealers and distributors rather than build large proprietary sales operations in every jurisdiction.

Growth will also come from the installed fleet. Maintenance, spare parts, training and software or telemetry services provide recurring-revenue opportunities as aircraft deliveries accumulate.

The initial AUD $250,000 tranche is structured as bridge finance through a SAFE Note and is specifically allocated to the pre-first-flight stage of the E22 Spark program. AUD $180,000 is allocated to prototype assembly and testing, with AUD $70,000 retained as a contingency and cash buffer.

Because bridge investors are providing capital before the first-flight milestone, the SAFE is intended to convert into the subsequent production-stage equity round at a 20% discount to the price paid by investors in that round. For conversion purposes, the AUD $250,000 bridge has an effective allocation value of AUD $312,500.

The total equity dilution associated with the complete AUD $3,250,000 staged raise remains capped at 18%. Based on the proposed allocation mechanics, Tranche 1 investors collectively receive approximately 1.7% equity on conversion, while Tranche 2 investors collectively receive approximately 16.3% equity. Total investor equity following full conversion remains 18.0%.

If the production-stage round is delayed, deferred or materially restructured, the final bridge documentation is intended to provide for an agreed maturity date, extension mechanism or alternative conversion pathway into the next qualifying equity round, subject to investor agreement and final legal documentation.

The production-stage tranche is intended to proceed following successful first flight of the E22 Spark. The capital is allocated toward the transition from prototype validation into initial production, including production setup, tooling, facility fit-out and quality-assurance systems, working capital for the first 12 aircraft, and twelve months of operating runway. The staged structure is designed so that the larger production commitment follows achievement of the key first-flight milestone rather than being deployed during the pre-flight development phase.