PART I FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Net loss improved to **$88.4 million**, total assets decreased, liabilities increased, and operating cash flow usage rose Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | Sep 30, 2023 ($) | Dec 31, 2022 ($) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | 10,097,318 | 49,146,063 | | Financial investments | 164,448,485 | 178,781,549 | | Total current assets | 259,562,244 | 312,207,206 | | **Total assets** | **261,551,372** | **312,875,428** | | **Liabilities & Equity** | | | | Total current liabilities | 46,159,081 | 24,933,011 | | Long-term debt | 11,319,690 | - | | **Total liabilities** | **59,506,557** | **25,953,085** | | **Total equity** | **202,044,815** | **286,922,343** | Condensed Consolidated Statements of Operations Highlights (Unaudited) | Account | Nine Months Ended Sep 30, 2023 ($) | Nine Months Ended Sep 30, 2022 ($) | | :--- | :--- | :--- | | Research and development | 71,991,658 | 33,830,890 | | Selling, general and administrative | 17,822,207 | 23,892,011 | | New Warrants expenses | - | 104,776,230 | | Loss from operations | (89,813,865) | (162,499,131) | | **Net loss** | **(88,391,854)** | **(153,976,295)** | | **Net loss per share basic and diluted** | **(0.32)** | **(0.62)** | Condensed Consolidated Statements of Cash Flows Highlights (Unaudited) | Account | Nine Months Ended Sep 30, 2023 ($) | Nine Months Ended Sep 30, 2022 ($) | | :--- | :--- | :--- | | Net cash used by operating activities | (69,996,532) | (38,702,719) | | Net cash provided (used) by investing activities | 19,831,944 | (250,418,721) | | Net cash provided by financing activities | 10,714,180 | 352,703,551 | | (Decrease) increase in cash and cash equivalents | (39,048,745) | 63,564,848 | [Note 1 – Organization and Nature of Business](index=10&type=section&id=Note%201%20%E2%80%93%20Organization%20and%20Nature%20of%20Business) Eve Holding, Inc. accelerates Urban Air Mobility with eVTOL aircraft and services, formed via a May 2022 reverse recapitalization - The company is dedicated to accelerating the **urban air mobility** ("UAM") ecosystem through a holistic approach involving an advanced **eVTOL** project, a global services and support network, and a unique air traffic management solution[26](index=26&type=chunk) - On **May 9, 2022**, the company completed its business combination with Zanite Acquisition Corp., becoming Eve Holding, Inc. The transaction was accounted for as a **reverse recapitalization**[28](index=28&type=chunk)[30](index=30&type=chunk) [Note 5 – Related Party Transactions](index=14&type=section&id=Note%205%20%E2%80%93%20Related%20Party%20Transactions) Eve maintains significant related-party agreements with Embraer for R&D and services, with **$55.5 million** in expenses and an **$81 million** loan extended - Eve has **Master Service** and **Shared Service Agreements** with Embraer for R&D, engineering, manufacturing access, and administrative services, also holding a **royalty-free license** to Embraer's intellectual property for the UAM market[57](index=57&type=chunk)[59](index=59&type=chunk) Related Party Expenses (Nine Months Ended Sep 30) | Expense Category | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | Research and development | 53,363,778 | 27,555,717 | | Selling, general and administrative | 2,157,575 | 7,707,429 | | **Total** | **55,521,353** | **35,263,146** | - On **August 1, 2023**, the Company amended its loan agreement with EAH (an Embraer subsidiary), extending the term for an additional 12 months to **August 1, 2024**, and increasing the interest rate to **5.97%** per annum on the principal amount of up to **$81,000,000**[62](index=62&type=chunk) [Note 7 – Debt](index=17&type=section&id=Note%207%20%E2%80%93%20Debt) Eve Brazil secured a **R$490 million** (approx. **$98 million**) BNDES loan for eVTOL development, with **$11.3 million** outstanding as of September 30, 2023 - Eve Brazil secured a loan agreement with BNDES for **R$490 million** (approx. **$98 million**) to fund eVTOL development, split into two sub-credits with maturities from **2026** through **2035**[68](index=68&type=chunk) Long-Term Debt Outstanding as of September 30, 2023 | Description | Carrying Amount ($) | | :--- | :--- | | Long-term debt principal | 11,723,724 | | Unamortized debt issuance costs | (404,034) | | **Long-term debt** | **11,319,690** | [Note 11 – Common Stock Warrants](index=20&type=section&id=Note%2011%20%E2%80%93%20Common%20Stock%20Warrants) Private Placement Warrants, classified as liabilities, increased to **$13.4 million** from **$3.6 million**, resulting in a **$9.8 million** loss, with Public and New Warrants also outstanding - Private Placement Warrants are **liability-classified**, with their fair value increasing from **$3,562,500** at **Dec 31, 2022**, to **$13,395,000** at **Sep 30, 2023**, resulting in a **loss** from the change in fair value[74](index=74&type=chunk)[78](index=78&type=chunk)[100](index=100&type=chunk) - Public Warrants are **equity-classified** and became exercisable on **June 8, 2022**, at a price of **$11.50 per share**[87](index=87&type=chunk)[88](index=88&type=chunk) - The company has issued or agreed to issue New Warrants to **strategic partners**, including potential customers, lenders, and suppliers, with exercise prices ranging from **$0.01 to $15.00 per share**[89](index=89&type=chunk)[94](index=94&type=chunk)[95](index=95&type=chunk) [Note 18 – Segments](index=25&type=section&id=Note%2018%20%E2%80%93%20Segments) Eve operates in three R&D segments: eVTOL, UATM, and Service and Support, with eVTOL accounting for the majority of R&D expenses at **$65.6 million** - The company operates in three segments: **eVTOL** (design and certification), **UATM** (next-gen air traffic management system), and **Service and Support** (maintenance, training, data services)[114](index=114&type=chunk)[115](index=115&type=chunk)[116](index=116&type=chunk) Research and Development Expenses by Segment (Nine Months Ended Sep 30) | Segment | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | eVTOL | 65,601,417 | 28,183,054 | | UATM | 3,120,002 | 4,299,873 | | Service and Support | 3,270,239 | 1,347,963 | | **Total** | **71,991,658** | **33,830,890** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Eve, a pre-revenue company, improved its net loss to **$88.4 million** due to non-recurring expenses, despite increased R&D, with **$342.5 million** liquidity expected to fund operations for the next twelve months - Eve has **not yet generated any revenue** and will require **substantial additional capital** to develop its products and fund operations, planning to finance through existing cash, offerings, and debt[129](index=129&type=chunk) - The company has signed non-binding letters of intent for the sale of over **2,850 eVTOL aircraft** and has established **partnerships** for ecosystem development in markets like Australia, the UK, Rio de Janeiro, and Miami[142](index=142&type=chunk)[143](index=143&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Net loss decreased to **$88.4 million** due to the absence of **$104.8 million** in New Warrant expenses, despite a **113%** increase in R&D to **$72.0 million**, while SG&A decreased and investment income grew Year-over-Year Changes in Operations (Nine Months Ended Sep 30, 2023 vs 2022) | Account | Change ($) | Change (%) | | :--- | :--- | :--- | | Research and development | 38,160,768 | 113% | | Selling, general and administrative | (6,069,804) | (25)% | | New Warrants expenses | (104,776,230) | (100)% | | Loss from operations | 72,685,266 | (45)% | | Net loss | 65,584,441 | (43)% | - R&D expenses for the nine months ended Sep 30, 2023 increased by **$38.2 million** (**113%**) year-over-year, primarily due to increased headcount and higher engineering expenses for prototype development, including batteries, motors, and propellers[153](index=153&type=chunk) - SG&A expenses for the nine months ended Sep 30, 2023 decreased by **$6.1 million** (**25%**) year-over-year, largely due to non-recurring legal, consulting, and marketing expenses related to the May 2022 NYSE listing[154](index=154&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) Eve's total liquidity of approximately **$342.5 million** is sufficient for the next twelve months but not for eVTOL commercial launch, necessitating future financing - As of **September 30, 2023**, the company had total liquidity of approximately **$342.5 million**, which is expected to be sufficient to fund the operating plan for at least the **next twelve months**[162](index=162&type=chunk) - **Future capital** will be required to complete **eVTOL development** and **commercial launch**, with the company exploring various funding opportunities including debt finance, customer advances, and equity or convertible lines[164](index=164&type=chunk) Cash Flow Summary (Nine Months Ended Sep 30) | Activity | 2023 ($) | 2022 ($) | | :--- | :--- | :--- | | Net cash used by operating activities | (69,996,532) | (38,702,719) | | Net cash provided (used) by investing activities | 19,831,944 | (250,418,721) | | Net cash provided by financing activities | 10,714,180 | 352,703,551 | [Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate risk from Brazilian CDI and foreign currency risk from BRL-denominated assets and liabilities, with **5%** of assets and **38%** of liabilities in Reais - The company is exposed to **interest rate risk** from the **Brazilian CDI rate** on its cash equivalents in Brazil[181](index=181&type=chunk) - The company faces **foreign currency risk** from its Brazilian operations, with assets and liabilities denominated in Reais; as of September 30, 2023, **5% of total assets** and **38% of total liabilities** are in **Reais**[184](index=184&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective as of September 30, 2023, due to unremediated material weaknesses in internal control over financial reporting, with a remediation plan underway - Management concluded that disclosure controls and procedures were **not effective** as of **September 30, 2023**, due to unremediated **material weaknesses** in internal control over financial reporting[187](index=187&type=chunk) - The identified material weaknesses include **ineffective controls** over complex transactions, **inadequate risk assessment** and communication processes, and **insufficient personnel** with experience in complex accounting matters[190](index=190&type=chunk)[191](index=191&type=chunk) - A **remediation plan** is underway, involving **engaging outside consultants**, **hiring qualified resources**, **enhancing risk assessment**, and providing training to personnel[192](index=192&type=chunk)[194](index=194&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings that would adversely affect its business or financial condition - As of the filing date, the company is **not involved** in any **material legal proceedings**[197](index=197&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) For a detailed discussion of potential risks, the company refers to its most recent Annual Report on Form 10-K - For a **detailed discussion** of risk factors, the company refers investors to its **most recent Annual Report on Form 10-K**[198](index=198&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=41&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities.) There were no unregistered sales of equity securities, use of proceeds, or issuer purchases of equity securities during the period - None[199](index=199&type=chunk)

Financial Data and Key Metrics Changes - The company reported a net loss of $31 million in Q2 2023, compared to a loss of $22 million in the same period last year, reflecting increased R&D efforts [61] - Cash consumption in the first half of 2023 was $48 million, more than double the $22 million from the first half of 2022, indicating higher R&D expenditures [43] - The company ended Q2 2023 with $269 million in cash, and with additional credit lines, total liquidity exceeds $370 million, sufficient to fund operations into 2025 [44][138] Business Line Data and Key Metrics Changes - The company invested approximately $22 million in program development during Q2 2023, up from $10 million a year ago, primarily for eVTOL development [59] - SG&A expenses were $7 million in Q2 2023, down from $16 million last year, with the previous year's figures including nonrecurring IPO expenses [60] Market Data and Key Metrics Changes - The company has announced Letters of Intent (LOIs) for 850 aircraft from 28 different customers across 14 countries, indicating a diversified customer base [39] - The company is focusing on key cities for urban air mobility, including San Francisco and Rio de Janeiro, to accelerate its market presence [41] Company Strategy and Development Direction - The company aims to develop a sustainable urban air mobility ecosystem, transforming urban transportation globally [21] - The initial factory will be located in Taubate, Brazil, to optimize production processes and leverage Embraer's resources [45][46] - The company is committed to maintaining a competitive edge by focusing on operational costs and efficiency through a simple design and strategic supplier agreements [75][90] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the development timeline and operational costs, with expectations to begin assembling the first prototype by the end of the year [19][50] - The FAA has agreed to recognize the primary certification process through ANAC, which is critical for the company's development program [26] - Management emphasized the importance of supplier agreements in reducing operational costs and enhancing aircraft performance [119][147] Other Important Information - Johann Bordais will join as CEO effective September 1, bringing extensive experience from Embraer Services and Support [30] - The company has begun manufacturing components for its first prototype and plans to initiate a test campaign next year [50] Q&A Session Summary Question: What are the aircraft performance specifications and production costs? - Management reiterated that they are targeting the same high-level performance metrics, including a range of approximately 100 kilometers and capacity for four passengers [66][67] Question: How are supplier agreements structured? - Supplier agreements are comprehensive, covering development and production phases, with payments linked to eVTOL development milestones [72][74] Question: What are the expected operational costs compared to competitors? - Management indicated a clear advantage in operational costs, estimating a double-digit percentage advantage over competitors due to their design and maintenance strategies [90][94] Question: How will the company manage service and support as it enters the market? - The company plans to leverage Embraer's existing infrastructure and expertise to build a robust service and support network, minimizing initial capital expenditures [82][108] Question: When can the company expect to convert LOIs into firm orders? - The conversion of LOIs into firm agreements is expected to begin approximately 18 months before aircraft delivery, contingent on certification milestones [108][125]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39704 EVE HOLDING, INC. (Exact name of registrant as specified in its charter) Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 (State or other jurisdiction of incorporation or orga ...

Eve Holding, Inc. (NYSE:EVEX) Q1 2023 Earnings Call May 9, 2023 8:00 AM ET Company Participants Lucio Aldworth - Director, Investor Relations Gerard J. DeMuro - Co-Chief Executive Officer André Duarte Stein - Co-Chief Executive Officer Eduardo Couto - Chief Financial Officer Conference Call Participants Savanthi Syth - Raymond James Cai von Rumohr - Cowen Sheila Kahyaoglu - Jefferies Andres Sheppard - Cantor Fitzgerald Marvin Fong - BTIG Operator Good morning, and welcome to the Eve Air Mobility First Quart ...

PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The unaudited statements show a net loss increase to $25.8 million, driven by higher operating expenses and resulting in decreased total assets [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $296.3 million while total liabilities increased, leading to a reduction in stockholders' equity Condensed Consolidated Balance Sheet Data (as of March 31, 2023 vs. December 31, 2022) | Balance Sheet Item | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $295,536,648 | $312,207,206 | | Cash and cash equivalents | $11,837,193 | $49,146,063 | | Financial investments | $199,119,647 | $178,781,549 | | **Total Assets** | **$296,338,106** | **$312,875,428** | | **Total Current Liabilities** | $32,863,549 | $24,933,011 | | Related party payables | $16,222,416 | $12,625,243 | | **Total Liabilities** | **$33,839,852** | **$25,953,085** | | **Total Stockholders' Equity** | **$262,498,254** | **$286,922,343** | [Unaudited Condensed Consolidated Statements of Operations](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Net loss widened to $25.8 million from $10.0 million year-over-year due to significantly higher R&D and SG&A expenses Condensed Consolidated Statements of Operations (For the Three Months Ended March 31) | Line Item | 2023 | 2022 | | :--- | :--- | :--- | | Research and development | $(21,528,338) | $(9,114,687) | | Selling, general and administrative | $(6,154,319) | $(1,318,033) | | **Loss from operations** | **$(27,682,657)** | **$(10,432,720)** | | Financial investment income | $3,254,400 | $63,381 | | **Net loss** | **$(25,771,982)** | **$(10,010,008)** | | Net loss per share basic and diluted | $(0.09) | $(0.05) | [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations increased substantially to $19.9 million, contributing to a $37.3 million decrease in cash Condensed Consolidated Statements of Cash Flows (For the Three Months Ended March 31) | Cash Flow Item | 2023 | 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(19,891,123) | $(1,868,950) | | Net cash used in investing activities | $(17,543,699) | - | | **Decrease in cash and cash equivalents** | **$(37,308,870)** | **$(1,868,950)** | | Cash and cash equivalents at end of period | $11,837,193 | $12,507,573 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the reverse recapitalization, accounting policy changes, related-party transactions, and a new R$490 million loan facility - The business combination with Zanite Acquisition Corp on May 9, 2022, was accounted for as a **reverse recapitalization**, with Eve Sub's historical financial statements continuing as the Company's financial statements[33](index=33&type=chunk)[36](index=36&type=chunk) - Effective January 1, 2022, the company switched from a 'management approach' carve-out methodology to a **'legal entity approach'** for its financial statements, resulting in a separation-related adjustment to the opening balance sheet[49](index=49&type=chunk)[52](index=52&type=chunk) - On January 23, 2023, Eve Brazil entered into a loan agreement with BNDES for two lines of credit totaling **R$490 million (approx. $96 million)** to support eVTOL development, though no amount has been drawn as of March 31, 2023[91](index=91&type=chunk)[94](index=94&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management discusses its pre-revenue status, rising Q1 net loss driven by R&D and SG&A, and confirms liquidity for the next year [Overview and Business Model](index=25&type=section&id=Overview%20and%20Business%20Model) The company is a development-stage UAM leader with a holistic ecosystem model requiring substantial future capital - Eve's business model is built on four pillars: **eVTOL Production and Design, Service and Support, Fleet Operations, and Urban Air Traffic Management (UATM)**[139](index=139&type=chunk)[140](index=140&type=chunk)[141](index=141&type=chunk) - The company has **not generated any revenue to date** and expects to finance its operations through existing cash, offerings, and debt until its products are commercialized[143](index=143&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Q1 net loss grew 157% to $25.8 million, driven by a 136% rise in R&D and a 367% increase in SG&A expenses Comparison of Operating Results (Q1 2023 vs. Q1 2022) | Line Item | Q1 2023 | Q1 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $(21,528,338) | $(9,114,687) | $(12,413,651) | 136% | | Selling, general and administrative | $(6,154,319) | $(1,318,033) | $(4,836,286) | 367% | | **Loss from operations** | **$(27,682,657)** | **$(10,432,720)** | **$(17,249,937)** | **165%** | | **Net loss** | **$(25,771,982)** | **$(10,010,008)** | **$(15,761,974)** | **157%** | - The increase in R&D expenses was primarily due to **higher headcount and engineering expenses** related to prototype development, including costs for batteries, motors, and thermal management systems[175](index=175&type=chunk) - The rise in SG&A expenses was largely driven by an **increase in team size, consulting services, marketing expenses**, and charges under the Shared Service Agreement[176](index=176&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company has $294.6 million in liquidity, sufficient for the next twelve months but not for full commercial launch - Total liquidity as of March 31, 2023, was **$294.6 million**, comprising $11.84 million in cash, $199.12 million in marketable securities, and an $83.64 million related party loan receivable[182](index=182&type=chunk) - Current funds are expected to cover operating plans for the next 12 months but are **likely insufficient for the full development and commercial launch** of the eVTOL aircraft[185](index=185&type=chunk) - The company secured credit lines with BNDES for approximately **$96 million**, adding to total liquidity once drawn[182](index=182&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to interest rate risk from Brazilian cash equivalents and foreign currency risk from its BRL-denominated operations - The company faces **interest rate risk** from cash equivalents in Brazil indexed to the CDI rate[200](index=200&type=chunk) - Eve is exposed to **foreign currency risk** from its Brazilian operations, with 2% of total assets and 15% of total liabilities denominated in Brazilian Reais as of March 31, 2023[203](index=203&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls were deemed ineffective due to unremediated material weaknesses in internal control over financial reporting - Management concluded that disclosure controls and procedures were **not effective** as of March 31, 2023, due to unremediated material weaknesses[207](index=207&type=chunk) - Identified material weaknesses include **ineffective controls for non-routine/complex transactions**, inadequate risk assessment processes, and a lack of sufficient personnel with qualifications for complex accounting[210](index=210&type=chunk) - A **remediation plan is in progress**, involving engaging outside consultants, hiring additional qualified personnel, and enhancing risk assessment and communication processes[211](index=211&type=chunk)[214](index=214&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently party to any material legal proceedings - As of the report date, Eve is **not involved in any material legal proceedings**[216](index=216&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) The report refers to the company's Annual Report on Form 10-K/A for a comprehensive discussion of risk factors - For a detailed discussion of risk factors, the report refers to the **Company's Annual Report on Form 10-K/A** for the year ended December 31, 2022[217](index=217&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including corporate documents, a loan agreement, and required officer certifications - The exhibits filed include corporate governance documents, the **BNDES Loan Agreement**, and required CEO/CFO certifications[224](index=224&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39704 EVE HOLDING, INC. Delaware 85-2549808 (State or other jurisdiction of incorporation or organization) 1400 General Aviation Drive M ...

Financial Data and Key Metrics Changes - The company reported a net loss of $20 million for Q4 2022 and a total loss of $174 million for the year, with nonrecurring costs related to warrants and IPO expenses amounting to $111 million, resulting in a recurring loss of $63 million for 2022 [21][97][102] - Total liquidity at the end of Q4 2022 was $311 million, down from $330 million in Q3 2022, but with additional credit lines, total liquidity exceeds $400 million, sufficient to fund operations through 2025 [82][116] Business Line Data and Key Metrics Changes - The company has a diversified backlog with nonbinding letters of intent (LOIs) for 2,770 aircraft from 26 customers across 12 countries, indicating strong long-term revenue visibility [9] - R&D investments totaled $18 million in Q4 2022 and $52 million for the full year, primarily focused on eVTOL development and Urban Air Traffic Management systems [97] Market Data and Key Metrics Changes - The company is leveraging Embraer's existing infrastructure and skilled workforce, which helps reduce development costs and enhances operational efficiency [98] - The eVTOL market is evolving, with a shift from hype to a more mature phase, leading to potential consolidations and a focus on a smaller number of viable projects [54] Company Strategy and Development Direction - The company aims to enter service in 2026, with a focus on optimizing aircraft design and reducing development costs through rigorous testing and supplier engagement [7][92] - The strategy includes developing a complete solution encompassing aircraft, maintenance, and air traffic control, addressing the broader Urban Air Mobility ecosystem [81][98] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the liquidity position and the ability to fund R&D and certification efforts through 2025, emphasizing a strategic approach to customer engagement and market readiness [63][102] - The company is actively engaged with existing customers to refine operational concepts and ensure market readiness for eVTOL deployment [43] Other Important Information - The company has initiated its Type Certification process with ANAC and plans to follow with FAA certification, which is expected to be more efficient due to a bilateral agreement [93] - The Urban Air Traffic Management software is being developed concurrently, with early versions already deployed for testing with potential customers [79][48] Q&A Session Summary Question: What is the current demand environment for new orders? - The company continues its sales campaign and is actively engaging with existing customers to understand operational needs, while also exploring new customer opportunities [43] Question: When can the company start collecting predelivery payments (PDPs)? - The company anticipates starting to see PDPs in 2024, with expectations for increased collections in 2025 and 2026 as the certification milestones are achieved [65][66] Question: How is the supplier selection process progressing? - The company is in the process of finalizing supplier selections for critical components, which will provide clearer visibility on costs and enable the firming of orders [106][112] Question: What is the expected timeline for certification testing? - The certification flight test campaign is expected to take around 18 months, with the company not disclosing specific dates to ensure safety and compliance [127] Question: How does the company view the competitive landscape in the eVTOL market? - Management noted that the industry is moving beyond the initial hype phase, with a focus on a smaller number of viable projects and potential consolidations [54]

Eve Holding, Inc. (NYSE:EVEX) Q3 2022 Earnings Conference Call December 23, 2022 9:00 AM ET Company Participants Lucio Aldworth - Director of IR Jerry DeMuro - Co-CEO Eduardo Couto - CFO Andre Stein - Co-CEO Conference Call Participants Savanthi Syth - Raymond James Ellen Page - Jefferies David Zazula - Barclays Marcelo Motta - JPMorgan Marvin Fong - BTIG Operator Greetings. Welcome to Eve Air Mobility Third Quarter 2022 Earnings Call. At this time, all participants are in listen only mode. A question-and-a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ____ Commission File No. 001-39704 EVE HOLDING, INC. (Exact name of registrant as specified in its charter) Delaware 85-2549808 (State or other jurisdiction of ...

Eve Holding, Inc. (NYSE:EVEX) Q2 2022 Results Conference Call August 4, 2022 12:00 PM ET Company Participants Lucio Aldworth - Director of Investor Relations Jerry DeMuro - Co-Chief Executive Officer Andre Stein - Co-Chief Executive Officer Eduardo Couto - Chief Financial Officer Luiz Valentini - Chief Technology Officer Conference Call Participants Sheila Kahyaoglu - Jefferies Savanthi Syth - Raymond James Marvin Fong - BTIG Jeff Hung - Morgan Stanley Josh Milberg - Morgan Stanley Operator Greetings. Welco ...