b'Per the rate covenant in the bond indenture net revenues shall at all times not be less than the greater of 1.0 times the sum of theaggregated debt service and 1.25 times the aggregate debt service on bonds.The indenture states that the commission cannot bein default of this requirement for two consecutive fiscal years.The fiscal year 2025 budget provides for net revenues that exceed 1.0 times the sum of the aggregated debt service and 1.25 timesthe aggregate debt service on bonds.applicableprovisionsTheamountsabovearedeterminedRevenueNote:inoftheCommissionsMasterwithaccordanceBondResolution (the Resolution).Revenue and expense as reported in the statements of revenues, expenses and net position have beenadjusted as required by the Resolution. Pursuant to the Resolution, debt service on bonds include only debt service on airport revenuebonds increased by a multiple of 1.00 times, whereas, debt service includes debt service on all debt and certain deposits required tobe made by the Resolution. Coverage Debt Service 3.05 2.45 2.27 2.21 0.79 1.37 1.91 1.25 1.26 1.65 1.51Debt Service on Bonds 6.29 4.86 4.35 3.97 1.11 2.21 3.27 2.32 2.34 2.75 2.26Debt Service $13,713,878 $14,269,063 14,332,044 11,574,271 2,312,4801 4,130,0591 15,028,679 6,401,7801 6,429,3301 5,159,2801 3,489,7041 Debt Service on Bonds $ 6,637,840 $ 7,193,0257,256,0066,453,3308,772,2308,772,9298,784,6798,815,2808,842,8309,107,2808,997,379Net Revenue Available $41,782,634 $34,924,49431,583,54525,623,9559,719,696 9,369,373 128,748,81920,422,803 0,667,431 2 25,001,06820,356,060Revenue Expense $38,870,405 $36,028,733 1,200,0023 6527,987,3913 21,691,828245,027,780 5,658,4072 5 5,489,367 47,107,174 26,684,371423,725,8724 9,387,4141 21,164,3374Capital Region Airport CommissionREVENUE BOND COVERAGETen Years Ended June 30, 2025Fiscal Year 2025 $80,653,039 2024 $70,953,227 2023 2,783,547 2022 3,611,346 1,411,524 2021 2020 4,238,186 2019 2018 4,393,303 2017 4,388,482 2016 1,520,397 2015109'