Loan and Security Agreement

On  December 6, 2024, the Company entered into a revolving line of credit loan and security agreement (the “Loan and Security Agreement”), with a company controlled by the former owner of the Company’s acquired subsidiaries at Camarillo Airport (“CMA”), who also serves as an independent contractor of the Company. The Company provided an initial loan commitment of $1.0 million and agreed to provide an additional $2.0 million of availability under a revolving line of credit to fund the working capital requirements of such company. The Loan and Security Agreement matures on  December 6, 2029, and bears interest at the standard overnight financing right plus 2% per annum.

As of June 30, 2026 and  December 31, 2025, the Company had loaned a total of $1.2 million and $1.1 million, respectively, to such company, the balance of which is presented as a component of accounts receivable, prepaid expenses, and other assets within the Company’s consolidated balance sheet.

Echo Echo Agreement

On  September 19, 2024, the Company entered into an additional non-exclusive agreement with Echo Echo, LLC for the use of an Epic E1000GX aircraft. The effective date of the agreement was  August 30, 2024 and the agreement automatically renews annually. The agreement can be terminated without penalty if either party provides 30 days’ written notice, or if the aircraft is sold or otherwise disposed of. Additionally, the Company is responsible for reimbursing its pro rata share of the direct operating costs of the aircraft, exclusive of maintenance and insurance.

For the three and six months ended June 30, 2026, the Company recognized approximately $0.1 million and $0.2 million of expense, respectively, within pursuit and marketing expenses under the terms of this agreement. For the three and six months ended June 30, 2025, the Company recognized approximately $0.2 million and $0.3 million of expense, respectively, within pursuit and marketing expenses under the terms of this agreement. The related liability is included in Accounts payable, accrued expenses and other liabilities within the consolidated balance sheet as of June 30, 2026.

Other Relationships

For the three and six months ended June 30, 2026 and 2025, the Company recognized less than $0.1 million of expense for consulting services received from a company that employed the Chief Financial Officer until prior to  July 1, 2021.

On June 1, 2025, the Company hired an individual to serve as its head of construction and president of one of its wholly-owned subsidiaries, Ascend Aviation Services (“Ascend”). Such individual was previously employed by, and continues to hold a financial interest in, a company that provides construction services to the Company (the “General Contractor”). The General Contractor was previously engaged by the Company to serve as general contractor in connection with its SGR and APA Phase I development project. During the three and six months ended June 30, 2025, the Company incurred $2.3 million and $5.7 million of construction costs associated with the General Contractor at its APA Phase I project, respectively. The General Contractor was also previously engaged by the Company to serve as an architectural and engineering consultant in connection with its ADS Phase II development project. During the three and six months ended June 30, 2026, the Company incurred $0.1 million and $0.1 million, respectively, of construction costs associated with such services. During the three and six months ended June 30, 2025, the Company incurred $0.1 million and $0.1 million of construction costs associated with the ADS Phase II development project, respectively. All such costs are capitalized and included as a component of cost of construction within the consolidated balance sheet as of June 30, 2026.

Ascend shares office space, equipment, and various administrative services with the General Contractor. Costs incurred by the General Contractor are allocated between Ascend and the General Contractor and are charged at cost. During the three and six months ended June 30, 2026 the allocated costs from the General Contractor to Ascend were less than $0.1 million and $0.1 million, respectively. During the three and six months ended  June 30, 2025 the allocated costs from the General Contractor to Ascend were $0.