Vertical Aerospace, a global aerospace and technology company that is pioneering electric aviation, will today provide its Business & Strategy Update for the third quarter of 2025. The filing of our Q3 2025 financial results is accessible on the Company’s investor relations website.

Transition Flight: The Defining Capability of the VX4

Vertical will begin transition flight testing phase, as soon as this week, as we continue to expand the flight test envelope of its VX4 aircraft, with full transition flights expected before the end of the year. Vertical will share an animation explaining this critical step during our Business & Strategy Update call today. To prepare for transition flight, Vertical’s engineering and test teams recently completed extensive simulation, ground, and flight testing in collaboration with the UK Civil Aviation Authority (CAA), satisfying all 200 CAA Minimum Safe Aircraft requirements.

Vertical reveals first images of certification aircraft

Vertical will also share first images of the design of our certification aircraft cabin, which we believe is the largest in the sector, designed for passenger comfort and operator flexibility. The images show key features including:

- A luxurious four-seat cabin; a unique six-seat configuration; and an observer seat next to the pilot in the cockpit

- A generous cargo hold for up to six cabin bags and six check-in bags, with a total payload of 550kg / 1,200+ lbs at entry-into-service

- A divider between cockpit and passenger cabin, for safety and privacy

Business Plan Progress and Updated Operational Outlook

At our Capital Markets Day in September, the company refined our 2030 operational and financial goals:

- Aircraft Production and Deliveries: at least 175 aircraft targeted by 2030, reaching a run-rate of over 225 aircraft annually by Q4 2030

- Margins: targeting 20% gross margin by 2030, ramping to ~40% at scale

- Cash Flow: positive net operating cash flow exceeding $100 million by 2030, versus prior breakeven target.

Upcoming Milestones

- Piloted Transition Flight: the key engineering proof point and critical de-risking step for the VX4 platform; flight phase targeted for completion in Q4 2025

- New Aircraft Reveal: 10 December 2025 London launch event, where Vertical will unveil our new full-size aircraft design

- Further Supplier Announcements: additional tier-one production partners to be confirmed, complementing existing partners Honeywell and Aciturri

- Aircraft 3 Assembly: final prototype aircraft to be fully assembled in December 2025, flying eVTOL and hybrid thereafter

Clear Path to Certification and Financial Outlook

With the UK/European certification process front-loaded, Vertical has a clear timeline and path to type certification in 2028, enabling the Company to forecast the further cost to certification at approximately $700 million. UK/European certification is the highest safety threshold and Vertical is achieving it for a fraction of the cost to the rest of the market.

- Vertical remains on track to meet our 2025 net operating cash outflow guidance of $110–125 million, supported by disciplined cost controls and industry-leading capital efficiency.

- As of the date of this report, Vertical has approximately £89 million ($117 million) of cash and cash equivalents on hand, currently projected to fund the Company’s operations towards the middle of 2026.

- Expected net cash outflows from operating activities for the next 12 months to be approximately £175 million ($235 million), which are expected to be used primarily to fund testing of the prototype aircraft, and to further develop our certification aircraft.

Dómhnal Slattery, Chair of Vertical’s Board, said: “Vertical’s new aircraft design is a clear statement of intent - setting new benchmarks for scale, safety, and passenger experience. With the largest cabin in its class, designed for comfort, flexibility, and operator efficiency, it redefines what customers can expect from advanced electric aircraft. The team has executed with discipline and purpose, combining capital efficiency with technical excellence. As we prepare for our global reveal in December, Vertical stands out as the company that will bring certified, commercially viable eVTOL flight to market with the most capable platform in the industry.”

Stuart Simpson, CEO of Vertical Aerospace, said: “Over 2025, Vertical has shown that when we set targets, we deliver. Whilst maintaining our industry-leading capital efficiency, we are not only demonstrating all piloted flight phases, but we are the only eVTOL OEM that has done so under stringent regulatory scrutiny – as mandated by the UK/European Permit to Fly regime. I am proud to lead Vertical, which has both the best-in-class eVTOL on the market and the sector’s clearest path to profitability.”

Joining the Q3 Webcast

Vertical will host a webcast today to discuss the first quarter’s results. The call will be hosted by Vertical Chair, Dómhnal Slattery and Stuart Simpson, Vertical’s CEO. To access the webcast, visit Vertical’s Investor Relations website. A replay of the webcast will be available on the company website following the event.