• Through its partnership with Cert Center Canada and anti-icing technologies developed by the University of Toronto, the Company progresses toward bringing an all-weather VTOL to market

TORONTO, September 1, 2026 – New Horizon Aircraft Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ:HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, continues to advance the all-weather certification pathway of its Cavorite X7 through the Company’s ongoing partnership with Flight Centre of Excellence (dba Cert Center Canada,”3C”) and anti-icing technologies being developed by the University of Toronto (“UofT”). 

Progress has been steady on the Company’s previously announced $10.5M INSAT-funded all-weather vertical propulsion eVTOL project in collaboration with 3C and UofT. In July 2026, wind tunnel testing began on small coupon samples that feature UofT’s ice protection technologies, marking the first step in evaluating the viability of these technologies on the Cavorite X7. 

Dr. John Maris, Founder of 3C, said, “Unlocking the true potential of air vehicle operations globally requires accounting for harsh climates, and the Cavorite X7 meets that challenge. I believe that with the combination of the X7’s design, 3C’s mentorship, and UofT’s technology, Horizon Aircraft can achieve Flight Into Known Icing (FIKI) certification and provide a reliable, year-round regional air mobility solution that helicopters struggle to provide.” 

Today, many northern and isolated communities across Canada and around the world rely on helicopters to receive critical goods and services, but these aircraft are frequently grounded by cold, snow, and poor weather conditions. Unlike helicopters and open rotor eVTOL aircraft, the Cavorite X7 was designed to fly safely in winter conditions, putting Horizon Aircraft in a strong position to achieve all-weather certification. 

“From day one, we designed the Cavorite X7 for Canadian winters to benefit both remote communities and aircraft operators,” said Brandon Robinson, Co-Founder and CEO of Horizon Aircraft. “3C’s certification expertise and UofT’s technology are supporting our progress toward bringing a certified all-weather X7 to market. Communities serviced by X7 aircraft will have greater access to the critical services they need, and X7 operators will experience higher aircraft utilization and profit margins.”