Third Point LLC

Delticus acquired the securities reported herein for investment purposes, subject to the following: The information in Items 3, 5 and 6 of this Schedule 13D is incorporated herein by reference. The Common Shares reported herein were acquired for investment purposes. Depending on market conditions and other factors (including evaluation of the Issuer's businesses and prospects, availability of funds, alternative uses of funds and general economic conditions), the Reporting Persons may from time to time acquire additional securities of the Issuer or dispose of all or a portion of their investment in the Issuer. The Reporting Persons intend to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including communicating with the board of trustees of the Issuer (the "Board"), members of management or other security-holders of the Issuer, or other third parties from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical and/or industry advisors, to assist in any review, and evaluating strategic alternatives as they may become available. The Advisor, a Delaware limited liability company and an affiliate of the Management Company, acts as the Issuer's investment adviser. The Advisor is an investment adviser registered with the SEC under the Investment Advisers Act of 1940, as amended. The Advisor is responsible for the day-to-day management of the Issuer operating under the direction of the Board. The Advisor is ultimately managed by Mr. Loeb, who is the founder of the Management Company, as well as its Chief Executive Officer. In such capacities, Mr. Loeb may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Except as described in this Schedule 13D, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D, although the Reporting Persons, at any time and from time to time, may review, reconsider and change their position and/or change their purpose and/or develop such plans.

FLYXACTIVIST

Flyexclusive, Inc.

Item 4 of the Schedule 13D is hereby amended to add the following: The information contained in Item 5 of Amendment No. 2 is incorporated by reference herein, as applicable.