UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August, 2026

Commission File Number: 001-43297

AIR Global PLC

(Translation of registrant’s name into English)

Festival Office Tower

Dubai Festival City, 7th Floor

Dubai

United Arab Emirates

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

On August 20, 2026, AIR Global PLC (the “Company”) issued a press release announcing its financial results for the six months ended June 30, 2026 (the “H1 results”), a copy of which is furnished as Exhibit 99.1 hereto. On the same date, the Company published a presentation in respect of its H1 results, a Shareholder Letter, as well as its unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2026, copies of which are furnished hereto as 99.2, 99.3 and 99.4 respectively.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: August 20, 2026

EXHIBIT INDEX

AIR Global Reports 2026 First-Half Results

Revenue increased 3.7% to $206.9 million despite Strait of Hormuz disruptions

Adjusted EBITDA remained stable yoy at $71.7 million

Expects accelerating growth in the second half of 2026

DUBAI, UAE, August 20, 2026 – AIR Global PLC (NASDAQ: AIIR), the global leader in Flavored Shisha Molasses ("FSM"), today announces its first results as a public company for the six-month period ending June 30, 2026, post its listing on the Nasdaq on 18 May 2026. Unless otherwise specified, all comparative information in this release is presented by reference to the corresponding period of the preceding year.

Stuart Brazier, Chief Executive Officer of AIR Global, said:

“Our first half 2026 performance is a testament to the resilience of AIR’s business, the strength of our global brands and the depth of our organizational culture. Despite unprecedented challenges following the closure of the Strait of Hormuz, a route through which approximately 70% of our historical shipment volumes have been transported, we delivered revenue growth of 3.7% and stable adjusted EBITDA.

End-consumer demand held steady throughout the period and shipment volumes have staged a strong recovery since the acute supply chain disruptions we experienced in March, when shipment volumes declined 38.6%. Volume growth resumed in June, and we expect this positive momentum to continue into the second half of 2026.

I would like to thank every AIR employee for their commitment, agility and determination during an exceptionally challenging period. Their efforts enabled us to adapt rapidly, establish alternative supply routes and continue serving our customers around the world with minimal interruption. This execution reinforces our confidence in our strategy to drive sustainable long-term growth and value creation.”

Webcast and Q&A Session: AIR Global PLC will hold a live webcast for investors and analysts at 8:00AM ET on August 20, 2026, hosted by Stuart Brazier, CEO and Bassem Lotfy, CFO. The presentation will be followed by a Q&A session. The webcast and presentation slides will be available to view on our website at News/ Events. Conference call dial in details: +1 877 407 0752 or +1 201 389 0912. Alternatively, participants may use the Call Me™ service for immediate access to the event via the following link: Call ME. The Call Me™ service will be available 15 minutes prior to the scheduled start time.

Results Highlights – H1’26

Net loss was also impacted by a 5.5% increase in costs of sales, primarily driven by the increase in revenue but also impacted by higher logistics and raw material costs associated with the Middle

East conflict. Furthermore, net income reflects EBITDA1 loss of $52.1 million in the first half of 2026.

2026 Full-Year Outlook

For FY'26, AIR expects:

Medium-Term Outlook

For FY'27 and over the medium term, AIR expects:

* No reconciliation to the most directly comparable IFRS financial measures has been provided due to the inherent difficulty in forecasting and quantifying certain amounts that would be necessary for such reconciliation.

Business Review

Segment Reporting

Americas

Americas revenue grew 3.4% driven by price-mix, offset by marginally lower volume. Adjusted EBITDA grew 17.2% due to revenue growth and strong cost control.

Europe

Europe remained challenging in the first half of 2026, continuing trends seen in recent years, as steep excise tax hikes and lack of enforcement have led to proliferation of illicit products. Revenue grew 0.4% and adjusted EBITDA declined to $0.1 million, as pricing gains were insufficient to offset excise-driven volume weakness.

MEAA

MEAA revenues grew 4%, driven by high teens price-mix growth. Adjusted EBITDA declined 4.0%. MEAA includes Global travel retail as well as our corporate headquarters. In the first half of 2026, costs were higher due to incremental public market costs, and higher supply chain costs due to the Middle East conflict.

Our market shares remain steady despite the significant pricing taken year-to-date, and in the key market of Saudi Arabia, we are seeing share growth.

NGC

NGC revenue grew 37.5%, albeit off a small base, due to growth in OOKA and launch of Crown Switch in Europe. NGC losses remain elevated due to investments behind new product launches in vapes and pouches. Adjusted EBITDA was a loss of $7.9 million, reflecting continued investment in new product development and commercialization.

Impact of the Strait of Hormuz Disruption

The sudden closure of the Strait of Hormuz created significant supply chain disruptions during the first half of 2026, affecting shipment timing across several key markets. While March shipments were materially impacted, end-consumer demand remained resilient and purchase orders were preserved. AIR acted quickly to develop alternative routes, mitigate supply chain risk, and support customer continuity. As logistics conditions improved, shipment volumes recovered, returning to growth in June.

Greentank Strategic Investment

On 29 July 2026, AIR announced a $20 million strategic investment into Greentank at a pre-money valuation of $170 million, with an option to increase the ownership stake by another 20% over the next 24 months at a valuation of $250 million. This partnership secures certain commercial advantages for AIR and accelerates our path towards launching Crown Switch in the US.

AIR also shared results of a new study evaluating aerosol emissions from the planned USA variants of AIR’s Crown Switch™ electronic vaping product, which is powered by Greentank’s Quantum Vape™ platform. Conducted by McKinney Specialty Labs, LLC, an independent, specialty analytical laboratory in Richmond, Virginia, the study found that Crown Switch aerosol contained substantially lower levels of several harmful

and potentially harmful constituents (HPHCs) than a range of FDA-authorized ENDS products already on the market.

Adjusted EBITDA Reconciliation

Reconciliation of operating (loss) / profit to adjusted EBITDA

Please note that further details on Adjusted EBITDA are included in the Appendix.

Share Count and Capital Structure

As disclosed in our Report on Form 20‑F filed on May 21, 2026, and further elaborated in our Report on 6-K filed on June 08, 2026, AIR has approximately 160.39 million ordinary shares outstanding. These include:

Glossary

AIR defines EBITDA as earnings for the period before interest, taxation, depreciation and amortization. The most directly comparable IFRS measure is profit/ (loss) for the period. EBITDA is an intermediate step in AIR’s calculation of Adjusted EBITDA, as set out in the reconciliation in Appendix D.

2 AIR defines Adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operating expenses. Adjusted EBITDA is not a measure specifically defined under IFRS. The most directly comparable IFRS measure is profit/(loss) for the period. A reconciliation of profit/(loss) for the period to Adjusted EBITDA is set out in Appendix D.

3 AIR defines Net Debt as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents, each as reported on AIR’s IFRS statement of financial position. AIR defines the ratio of Net Debt to Adjusted EBITDA (“leverage”) as Net Debt divided by Adjusted EBITDA. Neither Net Debt nor the Net Debt to Adjusted EBITDA ratio is presented in accordance with IFRS; the most directly comparable IFRS measures are total borrowings and cash and cash equivalents, each as reported on AIR’s statement of financial position. AIR believes this ratio is a useful measure of AIR’s capital structure and progress toward its target leverage. A reconciliation of profit/(loss) for the period to EBITDA and Adjusted EBITDA and total borrowings to Net Debt is set forth in Appendix D.

See “Use of Non-IFRS Financial Measures” for further information regarding the non-IFRS financials measures included in this press release.

Appendix

Appendix A: Consolidated Statement of Financial Position

Appendix B: Consolidated Statement of Comprehensive (Loss)/Income

Appendix C: Consolidated Statement of Cash Flows

Unaudited interim condensed consolidated statement of cash flows (continued)

Appendix D: Reconciliation of operating (loss) / profit to adjusted EBITDA

(i) During the six months ended June 30, 2026, the Group recognized $12,439 thousand in share-based compensation expense, primarily in relation to the Milestone Incentive Plan and Retention Awards, both equity-settled arrangements established for senior management in connection with a listing event. For the six months ended June 30, 2026, share-based compensation expense increased relative to the prior comparable period, reflecting the impact of beneficial modifications to the terms of certain participant awards made during the second half of 2025. Although these arrangements are one-time programs linked to the completion of an exit event and will not recur in future periods, the related charges will continue to be recognized over the remaining vesting period in accordance with IFRS 2 “Share-based Payments.”

(ii) During the six months ended June 30, 2026, the Group incurred non-recurring costs of $7,365 thousand directly related to public company readiness activities. These expenditures were incurred to assess and implement the Group's requirements as a publicly listed company, alongside other professional fees including, but not limited to legal, tax, and accounting. These costs would not otherwise have been incurred in the normal course of operations.

(iii) During the six months ended June 30, 2026, regional disruption rendered certain normal supply and logistics routes temporarily unavailable. As a result, the Group was required to enter into contracts for air-freighting materials and finished goods to maintain continuity of operations, a measure not employed in the ordinary course of business. In addition, the Group was unable to procure a key ingredient – glycerin - from contracted supply sources and was required to secure continuity of supply through a short-term contract at prices significantly above normal market conditions. Management has adjusted for the incremental cost of these ingredients, as it does not consider them reflective of the Group’s normalized cost base. Incremental costs in respect of re-routing of land and sea-based shipments, and other inflationary and situational increases, have not been adjusted and are considered operational and within the control of management.

(iv) During the six-month period ended 30 June 2026, the Group incurred regulatory costs of $1,980 comprising consulting, advisory, and research fees to support the preparation and submission of a U.S. Premarket Tobacco Product Application (PMTA) for one of its devices. Management considers PMTA applications to be infrequent and non-recurring in nature, with associated costs that are significant relative to the Group's normal operating activities. Accordingly, these costs have been adjusted in management's assessment of underlying performance.

(v) During the six-month period ended 30 June 2026, in accordance with the terms of the Business Combination Agreement, on 15 May 2026, the Group issued 4,408,369 shares (including 1,500,000 subject to earnout performance conditions) for an average fair value of $11.45 per share amounting to $50,490 in total share premium. While $2,340 of this share premium was received in cash (in consideration for 226,360 shares issued by the Group), $48,150 of issuance cost is taken as a charge to the unaudited interim condensed consolidated statement of comprehensive income in accordance with IFRS 2 "Share based payments".

Furthermore, during the six- month period ended 30 June 2026, as a result of the BCA transaction that took effect on 15 May 2026, the Group incurred expenses including sponsor marketing and advisory fees for a total of $32,635, satisfying redemption fees on shares redeemed of $4,106, and other advisory, legal and administrative fees of $10,994.

Reconciliation of total borrowings (current and non-current interest-bearing loans and borrowings) to Net Debt/Adjusted EBITDA

*Note: Net Debt / Adjusted EBITDA is calculated based on rolling twelve-month Adjusted EBITDA. H1’26 is based on the latest available financial statements. The comparator period is H1’25. To ensure a like-for-like comparison, H2’25 Adjusted EBITDA was derived from FY 2025 Adjusted EBITDA as previously reported of $139.3 million, less H1’25 Adjusted EBITDA of $71.7 million, resulting in H2’25 Adjusted EBITDA of $67.6 million.

(i) Represents total borrowings (including “current and non-current borrowings” as shown in the consolidated statement of financial position) less cash and cash equivalents.

(ii) Represents earnings before interest, taxes, depreciation and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operational items.

(iii) Represents Net Debt divided by Adjusted EBITDA. Net Debt/Adjusted EBITDA is a non-IFRS leverage ratio and differs from the gearing ratio (net debt divided by total capital) presented in AIR’s historical financial statements.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. AIR Global PLC is the public operating company that resulted from the business combination of AIR Limited with a special purpose acquisition company, which completed in May 2026, and is accordingly not a “blank check company” for purposes of these safe harbor provisions.

Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position as well as our FY2026 and FY2027 financial outlook and medium-term guidance, expected recovery in shipment volumes and accelerating growth in 2H26, our Greentank investment and the related option to increase our ownership stake, the timing of PMTA filings and FDA acceptance and the anticipated launch of Crown Switch, our expectations regarding cannibalization and next generation categories, our share count and the vesting of Earnout Shares, business strategy and plans and objectives of management for future operations, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature.

Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: disruptions to our supply chain and shipments, including as a result of the closure or disruption of the Strait of Hormuz; our dependence on distributors and suppliers; competition and cannibalization from next generation categories; our ability to obtain FDA acceptance and authorization of our PMTA applications on the timelines we expect, or at all; regulatory changes and enforcement trends in the tobacco and nicotine industries; the results of scientific studies and their acceptance by regulatory authorities; the preliminary nature of the McKinney pilot study data, which is subject to further testing and verification and may change materially as additional data becomes available; the potential exercise of warrants to increase our ownership in Greentank; our ability to execute our product development and commercialization strategy, including our U.S. market expansion strategy; excise tax increases and illicit trade in our European markets; changes in consumer preferences; fluctuations in foreign currency exchange rates; dilution from our Earnout Shares and other equity arrangements; tariffs and trade policy changes; changes in applicable laws or regulations; general economic conditions; our ability to realize the anticipated benefits of the Greentank investment; tax, legal and accounting developments; our history of previously identified material weaknesses in internal control over financial reporting; and the other important factors discussed under the caption “Risk Factors” in our Registration Statement on Form F-4, as amended, filed with the U.S. Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our other filings with the SEC, including our Reports on Form 6-K. Any forward-looking statements contained in this press release speak only as of the date hereof and

accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Use of Non-IFRS Financial Measures

This press release includes EBITDA, Adjusted EBITDA, Net Debt and the ratio of Net Debt to Adjusted EBITDA, each of which is a financial measure not presented in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) and may be different from similarly titled measures used by other companies.

AIR defines EBITDA as earnings for the period before interest, taxation, depreciation and amortization. The most directly comparable IFRS measure is profit/(loss) for the period. EBITDA is an intermediate step in AIR’s calculation of Adjusted EBITDA, as set out in the reconciliation in Appendix D.

AIR defines Adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operating expenses. The most directly comparable IFRS measure is profit/(loss) for the period. AIR believes that Adjusted EBITDA is a useful measure as it allows investors and management to evaluate AIR’s operating performance on a consistent basis, excluding the impact of non-operational, non-cash, or one-time items that may obscure underlying trends, and facilitate comparison across periods and with peer companies. Adjusted EBITDA is not a presentation made in accordance with IFRS, and AIR’s use of the term may vary from its use by other companies. You should exercise caution in comparing AIR’s Adjusted EBITDA to similarly titled measures reported by other companies and should not consider it in isolation or as a substitute for analysis of AIR’s results as reported under IFRS.

Some of these limitations include that Adjusted EBITDA does not reflect cash expenditures or future requirements for capital investments or contractual commitments; does not reflect changes in, or cash requirements for, working capital needs; does not reflect interest expense or the cash requirements necessary to service interest or principal payments on debt; does not reflect any cash income taxes AIR may be required to pay; and, although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often need to be replaced in the future, which Adjusted EBITDA does not reflect. In addition, other companies in AIR’s industry may calculate this measure differently, limiting its usefulness as a comparative measure, and the adjustments made in calculating Adjusted EBITDA are those that management considers not representative of AIR’s core operations and are therefore subjective in nature. A reconciliation of profit/(loss) for the period to EBITDA and Adjusted EBITDA is set forth in Appendix D.

AIR defines Net Debt as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents, each as reported on AIR’s IFRS statement of financial position.

AIR defines the ratio of Net Debt to Adjusted EBITDA (“leverage”) as Net Debt divided by Adjusted EBITDA. Neither Net Debt nor the Net Debt to Adjusted EBITDA ratio is presented in accordance with IFRS; the most directly comparable IFRS measures are total borrowings and cash and cash equivalents, each as reported on AIR’s statement of financial position. AIR believes this ratio is a useful measure of AIR’s capital structure and progress toward its target leverage. A reconciliation of total borrowings to Net Debt is set forth in Appendix D.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute (and shall not be construed as) an offer to sell or the solicitation of an offer to buy any securities of AIR, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contacts

AIR Investor Relations: Gaurav Jain: Gaurav.jain@air.global; +971-56-439-4296
Anuja Shendye: a.shendye@air.global; +971-58-907-8782
investor@air.global 

Follow AIR Global on X.

AIR Media Relations:
ICR for AIR
For more information, email inquiries to AIRglobal@icrinc.com

air advanced inhalation rituals 2026 First Half Results August 20, 2026

air advanced inhalation rituals Disclaimer The following applies to the information following this page (this "Presentation") by AIR Global Plc and/or its subsidiaries ("AIR"). By viewing all or part of this Presentation, you acknowledge and agree to be bound by the limitations and restrictions described herein. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. This Presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of AIR, or any of its respective affiliates. You should not construe the contents of this Presentation as legal, tax, accounting or investment advice or a recommendation. You should consult your own counsel and tax and financial advisors as to legal and related matters concerning the matters described herein, and, by viewing this Presentation, you confirm that you are not relying upon the information contained herein to make any decision. This Presentation shall not constitute an offer to sell or the solicitation of an offer to buy securities of AIR, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This Presentation does not constitute a “prospectus” within the meaning of the Securities Act of 1933, as amended. Any decision to purchase securities of AIR should be made solely on the basis of the information contained in a prospectus or other offering document to be issued by AIR in relation to a specific offering. No Representations and Warranties This Presentation is for informational purposes only. No representation or warranty, express or implied, is or will be given by AIR or any of its affiliates, directors, officers, employees or advisers or any other person as to the accuracy or completeness of the information in this Presentation, and no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for any errors, omissions or misstatements, negligent or otherwise, relating thereto. The information contained in this Presentation is derived from various internal and external sources, is preliminary in nature and is subject to change, and any such changes may be material. Industry and Market Data In this Presentation, AIR relies on and refers to certain information and statistics based on AIR management's estimates and/or obtained from third-party sources which it believes to be reliable. AIR has not independently verified the accuracy or completeness of any such third party information. Forward-Looking Statements This Presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. AIR Global PLC (NASDAQ: AIIR) is a public operating company that resulted from the business combination of AIR Limited with a special purpose acquisition company, which completed in May 2026, and is accordingly not a "blank check company" for purposes of these safe harbor provisions. Any express or implied statements contained in this Presentation that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position as well as our FY2026 and FY2027 financial outlook and medium-term guidance, expected recovery in shipment volumes and accelerating growth in 2H26, our Greentank investment, the timing of PMTA filings and FDA acceptance and the anticipated launch of Crown Switch, our expectations regarding cannibalization and next generation categories, our share count and the vesting of Earnout Shares, business strategy and plans and objectives of management for future operations, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: disruptions to our supply chain and shipments, including as a result of the closure or disruption of the Strait of Hormuz; our dependence on distributors and suppliers; competition and cannibalization from next generation categories; our ability to obtain FDA acceptance and authorization of our PMTA applications on the timelines we expect, or at all; regulatory changes and enforcement trends in the tobacco and nicotine industries; the results of scientific studies and their acceptance by regulatory authorities; the preliminary nature of the McKinney pilot study data, which is subject to further testing and verification and may change materially as additional data becomes available; the potential exercise of warrants to increase our ownership in Greentank; our ability to execute our product development and commercialization strategy, including our U.S. market expansion strategy; excise tax increases and illicit trade in our European markets; changes in consumer preferences; fluctuations in foreign currency exchange rates; dilution from our equity arrangements; tariffs and trade policy changes; changes in applicable laws or regulations; general economic conditions; our ability to realize the anticipated benefits of the Greentank investment; tax, legal and accounting developments; our history of previously identified material weaknesses in internal control over financial reporting; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our other filings with the SEC, including our Reports on Form 6-K. Any forward-looking statements contained in this Presentation speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this Presentation, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. Trademarks This Presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners and does not imply an affiliation with, or endorsement by, the owners of these trademarks, service marks, trade names and copyrights. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this Presentation may be listed without the TM, SM © or © symbols, but AIR will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. Use of Non-IFRS Financial Measures This Presentation includes certain financial measures that are not prepared in accordance with the IFRS as promulgated by the International Standards Accounting Board and that may be different from non-IFRS financial measures used by other companies, such as EBITDA, Adjusted EBITDA, Net Debt and Net Debt to Adjusted EBITDA ratio. These non-IFRS measures, and other measures that are calculated using these non-IFRS measures, are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to profit for the year, net cash generated from operating activities or any other performance measures derived in accordance with IFRS. AIR believes that these non-IFRS measures of financial results provide useful supplemental information to investors. However, there are a number of limitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example, other companies may calculate non-IFRS measures differently or may use other measures to calculate their financial performance, and therefore AIR’s non-IFRS measures may not be directly comparable to similarly titled measures of other companies. Figures of non-IFRS measures presented in this Presentation are unaudited and unreviewed by AIR’s independent auditors and could be subject to change.

air advanced inhalation rituals Seasoned Management Team with Significant Industry and Operational Experience Management Team Stuart Brazier Chief Executive Officer Bassem Lotfy Chief Financial Officer Jorge Güil Chief Marketing Officer Steve Wichary EVP New Growth Categories Ronan Barry Chief Regulatory & Legal Officer Gaurav Jain VP Investor Relations & Corporate Strategy Previous Experience Chief Financial Officer, AIR Head of Finance European Division, BAT Area Director for North Africa Bat Finance Director for the Middle East Area Finance Director for Central Europe North Bat General Manager Marketing & Innovation China Global Category Director Disinfection reckitt Global President dyson Group Head of Regulatory Affairs Bat Consumer Analyst, Global Tobacco BARCLAYS Omar Bseiso Executive Vice President, MEAA 33 Paul Dawson Chief Product Officer 25 Ashok Bhat Chief Supply and Operations Officer 28 Shane George Chief People Officer 15 Joe Bilman Chief Digital Officer Jacobo Sarmiento EVP Americas 15 Senior International Advisor & Management Consultant, General Manager Bat Vice President of Personal Care dyson Global Head of Supply Chain dyson VP HR, North America Hygiene reckitt Chief Digital Officer Vericast Chief Business Officer, NEOU Chief Product Officer, Fox Mobile VERICAST NEO General Manager, Spain Mainland AblnBev Years of Experience in Tobacco, Fast Moving Consumer Goods, Engineering and Premium Electronics, and Investing 3

AIR at a Glance Core Business | Global Leader in Flavored Shisha Molasses, anchored by Al Fakher Global Market Leader Larger than the Next 4 Competitors Combined(1) 3 of 5 best selling flavors globally belong to the Al Fakher brand (2) 60%-65% (3) market share in the USA Largest Market by Revenue ~1bn Hookah servings per year(4) 7 Production facilities(5) Strong ROCE amplified by capex light model(6) Scalable operations with limited infrastructure investment Brand strength supports high margins Notes: 1. Based on Arthur D Little Industry Report 2025 2. Based on Arthur D. Little Industry Report 2025. Based on company flavor-level sales data and ADL’s market size estimates, these 3 flavors together account for ~30% of the global market (excluding Russia and Turkey). This includes variants of Two Apples 3.Based on Arthur D. Little Industry Report 2025 4. Calculated based on total sales volume for the year 2025 divided by an average serving size of ~25g 5. Of which 4 facilities operated by third parties 6. ROCE refers to Return on Capital Employed

AIR at a Glance NGCs | Driving Innovation in the Industry OOKA 2023 CROWN SWITCH 2025 CROWN GEMS 2025 ALFAKHER Pouches 2026$125m+ Investment in NGCs (FY2019 to FY2025) 175(1) Patent Cases Across Products (as of 31st Dec’25) Notes: 1. Includes total number of registered and pending patents, of which 94 are granted and 79 are pending CROWN

air advanced inhalation rituals Global Leader in a Structurally Resilient Flavored Shisha Molasses Market Indicative Competitive Profiling of Key Flavored Shisha Molasses Players (Market Strength vs Geographical Presence) High Moderate, but country dependent competitive presence for AIR Market Strength (Top 2-3 presence or significant market share in markets of operations) air advanced inhalation rituals AIR has deep presence AND a diversified country portfolio Larger than next 4 competitors combined Nakhla MAZAYA FUMARI ADAYA TOBACCO Taboo STARBUZZ TOBACCO SINCE 2005 afzal HOOKAIAI Royal Smokia TRUE PASSION Tobacco Khaleej ALAMASI Tobacco Country specific players with no significant competitive advantage vis-à-vis AIR Low Sparse Geographical Presence Broad (# of Markets where AIR has significant presence) Estimated Legal Market Size in Volume (kT), 2024 Estimated Market Share (Volume) by Key Market – AIR / Al Fakher Global 36-44% 32.5 kT 60-65% 4.8 kT 50-55% 5.1 kT 20-30% 0.7 kT 30-40% 1.7 kT 35-40% 13.7 kT 13-17% 3.0 kT • For markets such as USA and KSA, given the market share estimate of AIR to be higher than 45-50%, AIR is likely to be larger than next 4 competitors in these markets • Given its wider geographical presence compared to most competitors, as per AIR’s internal estimates, AIR believes it may be larger than next 4 competitors globally in markets in which it operates (i.e., excl. Russia and Turkey) 6 Source: Arthur D Little Industry Report 2025

air advanced inhalation rituals Flavoured Shisha is a Social Lifestyle Phenomenon Increasingly Popular Globally Consumption is Driven by Social, Lifestyle and Cultural Aspects Rather Than Solely Nicotine Delivery… …Leading to Rapidly Rising Global Popularity and Engagement on Social Platforms… Hookah is Enjoyed Across Consumer Demographics in the Western World(1) Hookah consumption split by consumer demographics Number of Hashtag Uses(3) (MM) Other 17% White / Caucasian 42% Hispanic / Latino 11% Black / African American 30% Other 16% Hispanic / Latino 5% Asian 6% Middle Eastern 8% Turkish 17% White / Caucasian 48% 1 #iqos 4 #cigarettes 11 #redbull 11 #tequila 17 #Shisha #hookah … With Opportunity to Grow in Western Markets (USA & EU) Consumers Enjoy the Product Both on Trade and Off Trade Western markets contributed more to AIR's revenue over time, growing at ~12% CAGR - ahead of other geographies(2) Flavoured Shisha Molasses Market - Split by Channel (%)(4) 21% 2019A 32% 2024A Volume (Consumption Share) ~35% Lounges ~65% Home Value ~15% Home ~85% LoungesNotes: 1. Inhalation Categories Penetration Report 2023, Opeepl. Western World in this context includes the United States and Germany 2. Based on company management reports and internal data 3.Based on Instagram data as of December 2025 4. Based on Arthur D. Little Industry Report 2025 7

air advanced inhalation rituals Flavoured Shisha is a Social Lifestyle Phenomenon Increasingly Popular Globally Huge Market Opportunity Across Global Flavoured Hookah Categories… with High Attractivity for HoReCa Businesses Globally Total Addressable Market – 2025 Value ($) Expansive Opportunity Flavoured Hookah Molasses Market (2) $15–19bn Total Flavoured Hookah Molasses Market Manufacturing Revenue (1) $0.9–1.1bn Value Chain Pricing: From Lounge to Consumer in UAE ($/ Kg)(3) ~2,000 ~40x ~550 ~11x ~50 Retail Selling Price(4) VFM Lounge (5) Selling Price High End Lounge (6) Selling PriceNotes: 1. Market size from 2025 Arthur D. Little Industry Report 2. Market size from 2025 Arthur D. Little Industry Report. Based on consumer spend which includes spending Ïn lounges. Includes the market size of shisha devices and accessories.Based on internal company information and reports as of November 2025 3. Retail selling price is the price Al Fakher in the UAE, as converted to USD with an exchange rate of 3.7 8 4. VFM lounge selling price is the average price of a sample of VFM lounges in the UAE 5. High end lounges selling prices is the average of certain sampled high-end lounges in the UAE 8

air advanced inhalation rituals Resilient Volume Growth Despite Tobacco Category Declines US Traditional Tobacco 18-25A Volume CAGR (%) 0.4% air -1.0% Cigars -4.4% Chewing Tobacco -5.3% Cigarillos -6.0% Traditional Snuff -6.5% Cigarettes -7.6% Pipe Tobacco -11.6% Fine Cut Tobacco Source : Company Information, Barclays Research 9

air advanced inhalation rituals Al Fakher is a Top 10 Global Tobacco Brand by Consumer Reach Reach of biggest brands (million consumers) 63 Marlboro1 42 Winston2 35 IQOS3 22 Camel2 16 L&M4 14 Al Fakher5 14 Rothmans6 13 Kent6 12 Parliament4 12 Chesterfield4 Source: Company Information, PMI Investor Information Document, Altria, Japan Tobacco Note: 1. Marlboro consumer reach = Marlboro International (PM) + Marlboro US (Altria) 2.Winston and Camel numbers based on JTI disclosures (excludes US); 3. Philip Morris, Cig consumer count calculated using 5,000sticks/consumer per annum, IQOS using 4,500 sticks/consumer/annum based on disclosures in PMI’s sustainability reports 4.L&M, Parliament and Chesterfield owned by PMI (excludes US). 5. Al Fakher consumer base calculated using 25gm/session and 72 sessions/yr/consumer 6. Rothmans and Kent owned by BAT 10

air advanced inhalation rituals FSM is Extremely Affordable Annual Consumer Spend (in $) - in US $108 At-home Shisha1 $200 At-home Coffee2 $400 Nicotine Pouches 3 $940 Starbucks Coffee 4 $1,000 Pod based Vapes 5 $2,200 Cigarettes 6 Source: Company Information, Barclays Research Note: 1. At-home shisha assumes 1.8kg annual consumption at $60/kg. 2. At-home coffee assumes 200 cups/year at $1 per cup. 3. Nicotine pouches assume 4 pouches/day (~80 cans/year) at $5 per can. 4. Starbucks assumes 3 beverages/week at $6 per beverage. 5. Pod-based vapes assume annual spend of approximately $1,000. 6. Cigarettes assume 250 packs/year at an average price of approximately $8.8 per pack. Figures represent estimated annual consumer spend in the U.S. based on these assumptions. 11

air advanced inhalation rituals Positioned for Accelerating Growth in H2 and Beyond FY’26 Full Year Outlook • Stable shipment volumes versus FY'25, despite an ~1.5% headwind from weaker GTR volumes and above-normal pricing.• Revenue growth of 4%-6% (USD). Low-to mid-single-digit Adjusted EBITDA growth, reflecting: –Incremental public company costs post Nasdaq listing. – Factory footprint reorganization to reduce reliance on the Strait of Hormuz. – Elevated logistics and raw material costs due to the Middle East conflict, despite alternative supply routes. – Partially offset by tariff and excise duty benefits. • Excluding these headwinds, Adjusted EBITDA growth would align with AIR's historical high-single-digit trend. Source: Company Information 12

air advanced inhalation rituals Medium Term Outlook For FY'27 and over the medium term, AIR expects: • Low-single-digit organic FSM volume growth, driven by market share gains and expansion into new markets. • Mid-single-digit FSM revenue growth (in USD). • High-single-digit FSM Adjusted EBITDA growth (in USD). • New Growth Categories (NGC) contributions will depend on FDA acceptance of the Company's PMTA applications. • Continued deleveraging, with a consistent reduction in Net Debt-to-Adjusted EBITDA. • AIR's long-term target leverage ratio is 2.5x Net Debt-to-Adjusted EBITD1A. Source: Company Information Note : 1. No reconciliation to the most directly comparable IFRS financial measures has been provided due to the inherent difficulty in forecasting and quantifying certain amounts that would be necessary for such reconciliation. 13

air advanced inhalation rituals H1’2026 : Resilient Performance Amidst Unprecedented Disruption As inventories normalize, growth is expected to accelerate in H2’26 • Revenue grew 3.7% and Adjusted EBITDA of $71.7m, flat yoy, despite Strait of Hormuz Disruption. • Strong Price/Mix growth of 14.0% offset inflation and supply chain pressures. • FSM volumes declined 9.0%, primarily due to shipment disruption and trade inventory impacts. • End-consumer demand remained stable throughout the period, with volume growth returning in June 2026. • As channel inventories normalize, growth is expected to accelerate in H2’26. Source: Company Information 14

air advanced inhalation rituals H1’26 Financial Performance Metric H1’26 H1’25 YoY %Revenue ($m) 206.9 199.5 3.7%Gross profit ($m) 116.8 114.0 2.4%Operating (loss) / profit ($m) (63.6) 51.5 NM(Loss) / profit for the period ($m) (81.8) 31.9 NMEBITDA ($m) (52.1) 61.0 NM Adjusted EBITDA ($m) 71.7 71.7 0.1%Basic EPS ($) (0.57) 0.22 NM Source: Company Information 15

air advanced inhalation rituals Segment Performance Overview (in $m, except percentages) H1'26 H1'25 YoYRevenue FSM-Americas 42.8 41.4 3.4%FSM-Europe 25.2 25.1 0.4%FSM-MEAA 136.7 131.4 4.0%NGC 2.2 1.6 37.5%Adjusted EBITDA FSM-Americas 19.8 16.9 17.2%FSM-Europe 0.1 1.8 -91.7%FSM-MEAA 59.7 62.3 -4.0%NGC (7.9) (9.3) NM Source: Company Information 16

air advanced inhalation rituals Bridge from Reported to Adjusted EBITDA (in $m, except percentages) H1’26 H1’25 (Loss) / profit for the period (81.8) 32.0 Add / (subtract): Taxation 3.8 5.4 Finance costs 14.4 21.6 Finance income (0.5) (7.8) Depreciation – property, plant and equipment 2.5 2.5 Depreciation - right-of-use assets 1.9 1.7 Amortisation 7.1 5.3 Share of results in joint venture 0.2 0.3 Changes in fair value of derivative financial instruments 0.3 — EBITDA (52.1) 0.0 Non recurring items: 0.0 0.0 Share-based compensations (i) 12.4 1.0 Corporate restructuring costs 0.7 1.2 Significant provisions, write-offs and associated legal costs 1.7 6.5 Public company readiness cost (ii) 7.4 1.9 Extra-ordinary costs caused by regional disruption (iii) 3.8 — Regulatory costs (iv) 2.0 — Expenses related to listing event (v) 47.7 — Expense of equity issued at listing event (net) (v) 48.2 — Adjusted EBITDA 71.7 71.7 Source: Company Information 17

air advanced inhalation rituals History of De-Leveraging Net Debt / Adjusted EBITDA (x) & Net Debt ($m) $m Net Debt 423 335 291 345 3.6x(1) 2.6x(2) 2.1x(3) 2.5x(4) 2023 2024 2025 H1’2026 Sources: Company information. Notes: 1. Based on 2023A Adjusted EBITDA of $118m. 2. Based on 2024A Adjusted EBITDA of $130m. 3.Based on 2025 Adjusted EBITDA of $139m. 4. Based on H1’2026 LTM Adjusted EBITDA of $139m. 18

Air advanced inhalation rituals FY26 Guidance – Other Financial Items • Broadly stable net financing cost. • Broadly stable net debt / Adjusted EBITDA at FY'26 year-end, reflecting IPO-related cash outflows and the Greentank investment. • Effective tax rate of ~15%. • Capital expenditures of $15m-$18m. • No share repurchases or dividend payments expected. Source; Company Information 19

Air advanced inhalation rituals Strategic Investment in Greentank Transaction Details • $20m preferred equity investment. $170m pre-money valuation. • Warrant to acquire additional 20% stake at pre money $250m valuation. • Board nomination rights secured. Science Validation • Independent pilot study by McKinney Specialty Labs. • Multiple HPHCs at non-detectable or very low levels. Strategic Benefits • Supports PMTA submission of Crown Switch. • Creates potential value upside through increased ownership. • Secures long term access to proprietary Quantum Chip TM atomization technology. • Access to next-generation vaporization innovations. Source; Company Information 20

Air advanced inhalation rituals Greentank-powered Crown Switch Has Low or Non-Detectable Levels of Certain HPHCs Reductions in Crown Switch 9000505 VT 5% aerosol HPHCs compared to an FDA authorized Tobacco flavored ENDS Acetaldehyde Acrolein ** Diacetyl ** Formaldehyde ** Nickel ** percentage (%) 100 90 80 70 60 50 40 30 20 10 0 >= 87.76% >= 93.94% 98.37% >=94.06% >= 97.69% 9000505 VT 5% An FDA authorized Tobacco ENDS **Constituent was below Limit of Detection (LOD) or Limit of Qualification (LOQ) in the Crown Switch product – for comparison the analytical LOD/LOQ was used as the value Reductions in Crown Switch 9000511 Arctic Mint 5% aerosol HPHCs compared to an FDA authorized Menthol flavored ENDS. Acetaldehyde Acrolein ** Diacetyl ** Formaldehyde Nickel ** percentage (%) 100 90 80 70 60 50 40 30 20 10 0 72.55% 93.33% 76.12% 66.54% 99.63% Crown Switch 9000511 Arctic Mint 5% An FDA authorized Menthol ENDS **Constituent was below Limit of Detection (LOD) or Limit of Qualification (LOQ) in the Crown Switch product – for comparison the analytical LOD/LOQ was used as the value Source; Company Information 21

Air advanced inhalation rituals Glossary & Appendix

Air advanced inhalation rituals Glossary 1. AIR defines EBITDA as earnings for the period before interest, taxation, depreciation and amortization. The most directly comparable IFRS measure is profit/ (loss) for the period. EBITDA is an intermediate step in AIR’s calculation of Adjusted EBITDA, as set out in the reconciliation on the slide 17. 2. AIR defines Adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operating expenses. Adjusted EBITDA is not a measure specifically defined under IFRS. The most directly comparable IFRS measure is profit/(loss) for the period. A reconciliation of profit/(loss) for the period to Adjusted EBITDA is set out on slide 17. 3. AIR defines Net Debt as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents, each as reported on AIR’s IFRS statement of financial position. AIR defines the ratio of Net Debt to Adjusted EBITDA (“leverage”) as Net Debt divided by Adjusted EBITDA. Neither Net Debt nor the Net Debt to Adjusted EBITDA ratio is presented in accordance with IFRS; the most directly comparable IFRS measures are total borrowings and cash and cash equivalents, each as reported on AIR’s statement of financial position. AIR believes this ratio is a useful measure of AIR’s capital structure and progress toward its target leverage. A reconciliation of profit/(loss) for the period to EBITDA and Adjusted EBITDA and total borrowings to Net Debt is set forth in the Appendix. Source; Company Information 23

Air advanced inhalation rituals Appendix Reconciliation of total borrowings (current and non-current interest-bearing loans and borrowings) to Net Debt/Adjusted EBITDA H1’26 ($ million) Total borrowings (current and non-current interest-bearing loans, lease liabilities, accrued interest and other borrowings) (1) 430.2 Less: Cash and cash equivalents (85.4) Net Debt (2) 344.8 Rolling 12 Months Adjusted EBITDA* (3) 139.3 Net Debt/Adjusted EBITDA (4) 2.48 *Note: Net Debt / Adjusted EBITDA is calculated based on rolling twelve-month Adjusted EBITDA. H1’26 is based on the latest available financial statements. The comparator period is H1’25. To ensure a like-for-like comparison, H2’25 Adjusted EBITDA was derived from FY 2025 Adjusted EBITDA as previously reported of $139.3 million, less H1’25 Adjusted EBITDA of $71.7 million, resulting in H2’25 Adjusted EBITDA of $67.6 million. (1) Represents total borrowings (including “current and non-current borrowings” as shown in the consolidated statement of financial position) less cash and cash equivalents (2) Net Debt is defined as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents (3) Adjusted EBITDA is defined as earnings before interest, taxes, depreciation and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operational items (4) Net Debt/ Adjusted EBITDA represents Net Debt divided by Adjusted EBITDA. Net Debt/Adjusted EBITDA is a non-IFRS leverage ratio and differs from the gearing ratio (net debt divided by total capital) presented in AIR’s historical financial statements. Source; Company Information 24

Air advanced inhalation rituals 2026 First Half Results August 20, 2026

Shareholder Let

Shareholder Letter

AIR Global PLC is a unique company with no direct comparable in its Flavored Shisha Molasses (“FSM”) business. The purpose of this shareholder letter, and the ones that will follow each quarter, is to help investors better understand the company and its category and give an insight into the business and culture of AIR.

This shareholder letter is structured in a Q&A format to address the key questions that investors might have regarding our results.

Question 1: Consumers globally and particularly in the US have been under a lot of stress due to inflation pressures – as highlighted by many consumer exposed companies that have reported recently. What have you seen amongst your consumers?

Flavored shisha molasses trends have remained remarkably stable over time under varied macroeconomic conditions and H1’26 was no different. In our biggest market by revenue, which is the US, we expect FY26 revenue growth to accelerate to high single digits, driven by a stable market, our market share gains, and new product innovations such as Snoop Dogg that is premiumizing our US business.

Question 2: What gives you confidence that H2’26 will see accelerating growth, considering the first half of 2026 saw c9% volume decline?

During the month of March, our shipments were adversely impacted due to the closure of the Strait of Hormuz. However, our purchase orders have remained intact, leading to reduction in inventories at wholesalers. We expect H2’26 volume growth to accelerate as channel inventory normalizes back to historical levels. We have since established several alternative supply routes to bypass the Strait in case of future disruptions.

Question 3: Price-mix was very strong at 14.0% in H1’26. Is it normal for AIR to have delivered such strong price-mix?

Due to the significant cost inflation in our business, we front-loaded 2026 pricing into the first half of 2026, which is why our price-mix was very strong. Due to more difficult pricing comps in H2’26 vs H2’25 as well as adverse geographic mix, our price-mix wouldn’t be as strong in H2’26. But, in any normal year, investors should expect our FSM business to deliver 4-6%+ price-mix benefit due to our leadership position in the FSM category, stable volume share, and new product innovations.

Question 4: What have you seen in terms of cannibalization from NGCs like heated tobacco, e-cigs and nicotine pouches on FSM?

In the US, Al Fakher shipments have grown at a 1% volume CAGR between 2018 and 2025 despite significant pricing, well ahead of all other traditional tobacco categories such as cigarettes and traditional moist snuff (-8% CAGR each), in a period which has exhibited strong growth in nicotine vapes (3x) and pouches (40x) volume. So, we believe any cannibalization impact of next generation products on FSM has been quite limited so far.

Source: Company Information, Barclays Research for other tobacco categories

Question 5: Saudi Arabia had seen a steep decline in 2025 revenue. What is the trajectory in 2026?

In 2025, our revenue in Saudi Arabia declined primarily due to change in distribution model in early 2024 that led to inventory movements that benefitted 2024 which then unwound in 2025 and overall market decline. We launched our value-for-money brand Al Aseel in the latter half of 2025, which has gained share steadily and also helped our premium brand Al Fakher compete more effectively against discount competitors. Due to this and easier 2025 comparators due to last year inventory movements, we expect strong growth in Saudi Arabia in 2026.

Question 6: Can you tell us more about the Greentank investment and your nicotine vape plans?

We believe we are still in the early days of the transition of tobacco industry to NGCs - of the 1 billion smokers in the world, less than 150 million have transitioned to NGC’s. There exist several challenges with existing vapes that reduce their appeal to smokers. Greentank’s innovative Quantum Chip™ atomization platform delivers a cleaner, more enjoyable inhalation experience, with substantially lower levels of several harmful and potentially harmful constituents (HPHCs) vs other leading vapes that have received PMTA authorization from the FDA.

As part of the transaction, AIR will gain the right to nominate a director to Greentank’s board, along with enhanced commercial terms, access to new technologies and long-term supply assurances. We are preparing to file our PMTA for our pod based vape Crown Switch later this year and will launch Crown Switch in the US once the FDA accepts our application.

Question 7:

The first half of 2026 has a lot of one-off items. Is AIR going to be one of those companies that have a significant difference between adjusted and reported numbers?

As a Nasdaq-listed company, AIR is required to follow the strict requirements of the PCAOB in the production of its financial statements, as well as the strict requirements of the SEC in respect of any non-IFRS financial measures AIR publishes. In keeping with the foregoing, AIR intends to report earnings of the highest quality where our adjusted numbers are a true reflection of our underlying earnings and free cash flow on an organic basis.

AIR completed its listing on the Nasdaq on May 18, 2026. The expenses associated with the listing are cumulatively $103 million, are non-recurring, and a large part of the adjusting items. The key adjusting items in H1’26 are:

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. AIR Global PLC is the public operating company that resulted from the business combination of AIR Limited with a special purpose acquisition company, which completed in May 2026, and is accordingly not a “blank check company” for purposes of these safe harbor provisions.

Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our future results of operations and financial position as well as our FY2026 and FY2027 financial outlook and medium-term guidance, expected recovery in shipment volumes and accelerating growth in 2H26, our Greentank investment and the related option to increase our ownership stake, the timing of PMTA filings and FDA acceptance and the anticipated launch of Crown Switch, our expectations regarding cannibalization and next generation categories, our share count and the vesting of Earnout Shares, business strategy and plans and objectives of management for future operations, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature.

Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: disruptions to our supply chain and shipments, including as a result of the closure or disruption of the Strait of Hormuz; our dependence on distributors and suppliers; competition and cannibalization from next generation categories; our ability to obtain FDA acceptance and authorization of our PMTA applications on the timelines we expect, or at all; regulatory changes and enforcement trends in the tobacco and nicotine industries; the results of scientific studies and their acceptance by regulatory authorities; the preliminary nature of the McKinney pilot study data, which is subject to further testing and verification and may change materially as additional data becomes available; the potential exercise of warrants to increase our ownership in Greentank; our ability to execute our product development and commercialization strategy, including our U.S. market expansion strategy; excise tax increases and illicit trade in our European markets; changes in consumer preferences; fluctuations in foreign currency exchange rates; dilution from our Earnout Shares and other equity arrangements; tariffs and trade policy changes; changes in applicable laws or regulations; general economic conditions; our ability to realize the anticipated benefits of the Greentank investment; tax, legal and accounting developments; our history of previously identified material weaknesses in internal control over financial reporting; and the other important factors discussed under the caption “Risk Factors” in our Registration Statement on Form F-4, as amended, filed with the U.S. Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our other filings with the SEC, including our Reports on Form 6-K. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Use of Non-IFRS Financial Measures

This press release includes EBITDA, Adjusted EBITDA, Net Debt and the ratio of Net Debt to Adjusted EBITDA, each of which is a financial measure not presented in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”) and may be different from similarly titled measures used by other companies.

AIR defines EBITDA as earnings for the period before interest, taxation, depreciation and amortization. The most directly comparable IFRS measure is profit/(loss) for the period. EBITDA is an intermediate step in AIR’s calculation of Adjusted EBITDA, as set out in the reconciliation in Appendix D.

AIR defines Adjusted EBITDA as earnings before interest, taxes, depreciation, and amortization, further adjusted to exclude items such as non-recurring expenses, share-based compensation and other non-operating expenses. The most directly comparable IFRS measure is profit/(loss) for the period. AIR believes that Adjusted EBITDA is a useful measure as it allows investors and management to evaluate AIR’s operating performance on a consistent basis, excluding the impact of non-operational, non-cash, or one-time items that may obscure underlying trends, and facilitate comparison across periods and with peer companies. Adjusted EBITDA is not a presentation made in accordance with IFRS, and AIR’s use of the term may vary from its use by other companies. You should exercise caution in comparing AIR’s Adjusted EBITDA to similarly titled measures reported by other companies and should not consider it in isolation or as a substitute for analysis of AIR’s results as reported under IFRS.

Some of these limitations include that Adjusted EBITDA does not reflect cash expenditures or future requirements for capital investments or contractual commitments; does not reflect changes in, or cash requirements for, working capital needs; does not reflect interest expense or the cash requirements necessary to service interest or principal payments on debt; does not reflect any cash income taxes AIR may be required to pay; and, although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often need to be replaced in the future, which Adjusted EBITDA does not reflect. In addition, other companies in AIR’s industry may calculate this measure differently, limiting its usefulness as a comparative measure, and the adjustments made in calculating Adjusted EBITDA are those that management considers not representative of AIR’s core operations and are therefore subjective in nature. A reconciliation of profit/(loss) for the period to EBITDA and Adjusted EBITDA is set forth in Appendix D.

AIR defines Net Debt as total borrowings (comprising current and non-current interest-bearing loans and borrowings) less cash and cash equivalents, each as reported on AIR’s IFRS statement of financial position. AIR defines the ratio of Net Debt to Adjusted EBITDA (“leverage”) as Net Debt divided by Adjusted EBITDA. Neither Net Debt nor the Net Debt to Adjusted EBITDA ratio is presented in accordance with IFRS; the most directly comparable IFRS measures are total borrowings and cash and cash equivalents, each as reported on AIR’s statement of financial position. AIR believes this ratio is a useful measure of AIR’s capital structure and progress toward its target leverage. A reconciliation of total borrowings to Net Debt is set forth in Appendix D.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute (and shall not be construed as) an offer to sell or the solicitation of an offer to buy any securities of AIR, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contacts

AIR Investor Relations: Gaurav Jain: Gaurav.jain@air.global; +971-56-439-4296
Anuja Shendye: a.shendye@air.global; +971-58-907-8782
investor@air.global 

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For more information, email inquiries to AIRglobal@icrinc.com

AIR Global PLC

Unaudited interim condensed consolidated financial statements

For the six-month period ended 30 June 2026

Unaudited interim condensed consolidated financial statements

For the six-month period ended 30 June 2026