Sky Harbour Announces Capital Raise and Financing Plan Through 2026 Page 1

Sky Harbor Group Corporation (NYSE American: SKYH, SKYH WS) (“SHG” or the “Company”), an aviation infrastructure company building the first nationwide network of home-basing campuses for business aircraft, announced that it has entered into a securities purchase agreement with certain investors for the issuance of 3,352,106 shares of PIPE Class A Common Stock for aggregate net proceeds of approximately $31.8 million, at a net purchase price of $9.50 per share in an initial closing expected to occur no earlier than October 15, 2024 and no later than October 25, 2024, subject to customary closing conditions.

In addition, the Company has granted each investor the option to purchase one additional share of Class A Common Stock for each initial PIPE Share purchased at the first closing at the same net price of $9.50 per share. These related options to purchase additional PIPE Shares at a second closing will expire on December 4^and2024. All PIPE shares purchased at the second closing will be issued on or before December 20, 2024.