SURFAIR MOBILITY

We plan to bring electrified flight. to people throughout the U.S.

A LETTER FROM OUR CEO

Cars have made tremendous progress towards electrification over the last decade. Planes, however. will work differently. This is due to both the physics of flight and the necessity to use smaller, lighter aircraft that the commercial airline industry has largely moved away from over the years.

There is a significant investment and innovation happening in electrified flight, much of which focuses on new aircraft types and new ways of flying. We love that and can’t wait to try to integrate those products into our platform. The problem is that many of these approaches will take a long time and expend huge amounts of capital before they can actually fly passengers. We believe the approach we’ve designed helps solve both of those problems.

 WE CURRENTLY HAVE A LEADING POSITION WITHIN THE REGIONAL AIR TRAVEL MARKET

Surf Air Mobility, along with our Southern and Mokulele brands, is the largest commuter airline in the United States by scheduled departures. Unlike other companies pursuing electric flight, we have an established operating business today flying nearly half a million passengers in 2022.

The first aircraft that we will bring to market are hybrid and fully electric variants of one of the most prolific existing turboprop aircraft, the Cessna Caravan. We believe that this approach creates a faster path to market through the supplemental type certification process. It’s important to note that our hybrid electric variant is being designed to operate without charging stations on the ground, and will target delivering similar performance and range as combustion variants do today. This will make the hybrid EP1 able to fly almost every use case in the market today and be addressable to almost every existing operator.

When you consider our addressable market, our playing field is 50-500 mile regional travel. There is approximately a $75-$115BN global opportunity for regional air mobility by 2035, with most of these trips being served on the ground today. We have a data driven growth plan with a goal to efficiently move these trips to the air.

“WHAT IF THAT SMALL AIRPORT HAD QUICK, DIRECT FLIGHTS TO THE DESTINATIONS ALL AROUND YOU?”

Everyone has a local airport not too far from his or her home or office. What if that small airport had quick, direct flights to the destinations all around you? We’ve set out to connect as many of the dots on the map as possible. We believe we can better connect many of the 5,000 underutilized local public airports and the communities they serve to the broader transportation infrastructure. We believe this regiona mobility market is both uncerserved and under optimized as neither cars nor commercial airlines can effectively deliver the combination of time savings and flexibility that passengers demand. We believe we’re simply giving people a better alternative to sitting in traffic, either on their way to a commercial air hub or on their way from their home to their destination. Onward and upward,

Stan Little, CEO Surf Air Mobility

LEARN MORE AT SURFAIR.COM

Statements in this article are forward-looking. They are based on management’s current expectations and subject to substantial uncertainty. Actual results or outcomes could differ for a variety of reasons including, arrong other things, changes in Surf Air Mobility’s operating results and financial position, the success of it: strategy and technological developments, and the timing of regulatory approvals