Volato files pro forma financials for M2i Global reverse merger; 85% ownership to M2i holders

Volato Group, Inc.

Pro forma combined assets $30.2M, liabilities $19.2M, equity $11.0M as of Sept 30, 2025.
Combined net loss of $26.6M for 2024; combined net income of $2.4M for nine months 2025.
Merger structured as reverse acquisition; M2i shareholders to own 85% of combined co., Volato holders 15%.
Pro forma assumes 1-for-6 reverse stock split to meet NYSE American listing requirements.
Net debt condition: M2i may waive $10M cap; Volato currently exceeds $10M net debt.

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