AeroMechanical ServicesAnnual General Meeting: May 9, 2012

Disclaimer• Forward Looking Statements

• This discussion includes certain statements that may be deemed “forward-looking statements” that are subject to risks and uncertainty. All statements, other than statements of historical facts included in this discussion, including, without limitation, those regarding the Company’s financial position, business strategy, projected costs, future plans, projected revenues, objectives of management for future operations, the Company’s ability to meet any repayment obligations, the use of non-GAAP financial measures, trends in the airline industry, the global financial outlook, expanding markets, research and development of next generation products and any government assistance in financing such developments, foreign exchange rate outlooks, new revenue streams and sales projections, cost increases as related to marketing, research and development (including afirs 228), administration expenses, and litigation matters, may be or include forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on a number of reasonable assumptions regarding the Canadian, U.S., and global economic environments, local and foreign government policies/regulations and actions and assumptions made based upon discussions to date with the Company’s customers and advisers, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include production rates, timing for product deliveries and installations, Canadian, U.S., and foreign government activities, volatility of the aviation market for the Company’s products and services, factors that result in significant and prolonged disruption of air travel worldwide, U.S. military activity, market prices, foreign exchange rates, continued availability of capital and financing and general economic, market, or business conditions in the aviation industry, worldwide political stability or any effect those may have onour customer base. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

• Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to have been correct. The Company cannot assure investors that actual results will be consistent with any forward-looking statements; accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are current only as of the date of this document. The Company disclaims any intentions or obligation to update or revise any forward-looking statements or comments as a result of any new information, future event or otherwise, unless such disclosure is required by law.

• www.flyht.com AMA : TSX-V

FLYHT and AeroMechanical Services

FLYHT Aerospace Solutions Ltd.FLY reserved on TSX.V

First Generation to Third Generation

AFIRS 228 Capabilities

2011 Contracts & Achievements

• 8 new contracts: 24 AFIRS 220 7 AFIRS 228

• 11 aircraft in Nigeria

• 28 AFIRS shipments

2011 Financials

FY 2011 FY 2010

Revenue $ 5.47 $4.69

R&D $ 3.33 $ 5.76

FY 2011 FY 2010

Net Loss $ 6.54 $ 8.98

Loss without R&D $ 3.22 $ 3.22

One million flight hours

• On March 9, 2012 AFIRS flew its millionth hour

Q1 Contracts

• 49 Aircraft

•37 AFIRS 228B

•12 AFIRS 220

• $8 million over 5 years

• FLYHT’s Largest Canadian Customer

• AFIRS 228B to be 228S by 2013

• Largest fractional operator

• 30 Hawker Beechcraft

• $6 million 5 year contract

• Fleet of 650 + aircraft

Q1 Contracts Continued

AFIRS 228 Progress

• AFIRS 228B installed and generating revenue

AFIRS 228S:

• First hardware is being tested by a customer

• 65 unit backlog

• Install a 228B and do box swap to 228S

• First commercial installation in Q4

• Mandated changes in Europe - market driver

Realigned Focus

• Sales

• FLYHTStreamTM data streaming demo to BEA and ICAO

• AFIRS 228B built, tested, certified, installed and billing

• AFIRS 228S certification work

• Product line expansion

• Management team initiatives around process

Recurring Revenue

Market Outlook

2010Fleet Size

RetiredOver next 20 years

NewOver next 20

years

Forecast Fleet in- 2030

19,410 13,380 33,500 39,530

Commercial Aircraft

Business Aircraft2010

Fleet SizeRetiredOver next 20 years

NewOver next 20 years

Forecast Fleet in - 2030

14,700 7,800 24,000 30,900

C130, Turboprop, and Non Tier One production

Key Figures From Q1In $ millions

Q1- 2012 Q1-2011

Revenue $ 1.1 $ 1.1

R&D $ 1.21 $ 0.78

Q1 2012 Q1 2011

Net Loss $ 2.2 $ 1.5

Loss without R&D $ 0.96 $ 0.70

Financial Summary

Debt and Working Capital as of March 31, 2012

• Modified working capital $(1.8) million

• Long term financial liabilities $ 2.6 million

Capitalization: Shares Outstanding as of Apr. 30, 2012

• Basic 118.6 million

• Fully diluted 143.6 million

• Management, directors, officers > 5.5%

Financial Review• Nonrefundable customer deposits: Balance, March 31: $1.34 million

• Unearned revenue: Balance, March 31: $1.90 million

• $370,621 moved from unearned revenue in Q1 2012 and is included in the $1.1 million recognized revenue

Thank you

• Any Questions ?