Risk Factors Update Summary

• Enhanced NOP offering in 2023 includes logistics services with a logistics team, expanding transportation capabilities.
• Revenue from Phoenix accounted for 14% of revenue, now "our other customers" are significant.
• Increased costs due to pilot shortages and attrition could significantly impact operations.
• Acquisition of Summit Aviation in 2023 added 13 fixed-wing aircraft to support aviation transportation services.
• Acquisition of Bridge to Life assets in 2023 for lung and heart perfusion technology to expand product offerings.
• Revenue from U.S. customers in the National OCS Program was 89%, now "Substantially all."
• Failure to maintain an acceptable safety record could impact customer retention and operations.
• Significant reliance on a single aircraft manufacturer poses risks of delays and disruptions.
• Revenue growth: Total revenue increased from $25.6 million in 2020 to $30.3 million in 2021.
• Revenue growth: Total revenue increased from $93.5 million in 2022 to $241.6 million in 2023.
• Increase in issued patents and pending patent applications globally, from approximately 297 to 400.
• Dependence on third parties for organ transport and limited availability risks growth.
• Increased maintenance costs as the fleet ages could negatively affect financial position.
• Revenue growth: Total revenue increased from $30.3 million in 2021 to $93.5 million in 2022.