Volato announces fleet update and cost-saving measures Page 1

Volato Group, Inc. (“Volato” or the “Company”) (NYSE American: SOAR), a leading private aviation company and the largest HondaJet operator in the United States, today announced further steps in its ongoing efforts to improve operational efficiency and profitability. As part of this strategy, the Company will remove five leased aircraft from its fleet, a decision that is consistent with the expected delivery of new HondaJets and the current pace of demand growth. This action is expected to result in approximately $1.2 million per quarter in cost savings.

This announcement follows previous public statements in which Volato outlined a commitment to cost-saving measures, including renegotiating aircraft leases. While Volato successfully renegotiated several agreements, efforts to renegotiate the leases of these aircraft did not produce terms that aligned with the company’s financial objectives. As a result, Volato has decided to terminate these less profitable leases as part of its broader fleet optimization strategy.