Numerator:

Net (loss) income

$

(4,368

)

$

14,356

$

(13,341

)

$

5,230

Less: Net loss attributable to non-controlling interests

(3,131

)

(3,097

)

(6,525

)

(5,847

)

Basic net (loss) income attributable to Sky Harbour Group Corporation shareholders

(1,237

)

17,453

(6,816

)

11,077

Less: Net loss attributable to non-controlling interests

-

(3,097

)

-

(5,847

)

Diluted net (loss) income attributable to Sky Harbour Group Corporation shareholders

(1,237

)

14,356

(6,816

)

5,230

Denominator:

Basic weighted average shares of Class A Common Stock outstanding

34,457

33,827

34,266

33,747

Effect of dilutive exchange of Class B Common Stock

-

42,046

-

42,046

Effect of dilutive exchange of Sky Incentive Units

-

1,859

-

1,857

Effect of dilutive restricted stock units

-

135

-

118

Diluted weighted average shares outstanding

34,457

77,867

34,266

77,768

(Loss) earnings per share of Class A Common Stock – Basic

$

(0.04

)

$

0.52

$

(0.20

)

$

0.33

(Loss) earnings per share of Class A Common Stock – Diluted

$

(0.04

)

$

0.18

$

(0.20

)

$

0.07