Surf Air Mobility Participates in Demonstration Flight Event of Electra's Electrified Ultra-Short Takeoff Aircraft

Flights showcased Electra's EL2 technology demonstrator aircraft's 150 ft takeoff and landing capabilities at Virginia Tech.

Surf Air Mobility will leverage its operational scale and proprietary SurfOS^™ software to scale market adoption of Electra's electrified aircraft.

Surf Air Mobility Inc. ("Surf Air Mobility") (NYSE:SRFM), a leading regional air mobility platform, today announced its participation in the event for the successful completion of the first demonstration flights for Electra's Ultra Short aircraft earlier this month at Virginia Tech. The flights showcased Electra's EL2 technology demonstrator aircraft's takeoff and landing distance of under 150 feet in non-airport, urban environments. The demonstrations highlighted the Ultra Short's potential to unlock new route possibilities for regional air travel from novel access points like underutilized airstrips, college campuses, and difficult to reach environments.

A video of Electra's demonstration flights can be viewed here.

The demonstration flights mark a milestone in Electra's roadmap toward launching its flagship EL9 Ultra Short nine-passenger aircraft, which is slated to enter commercial service in 2029. The successful flights of the EL2 technology demonstrator revealed the potential for significantly expanded route networks, potentially expanding access to thousands of new destinations that current aircraft cannot effectively utilize.

Surf Air Mobility's platform is designed to provide partners such as Electra the ability to accelerate the commercial deployment of next-generation electrified aircraft, and the operational support and software systems needed to enter the market and scale efficiently. SurfOS is a comprehensive software solution for scheduling, crew management, aircraft utilization, and route planning, designed to optimize efficiency and reduce operational costs.

Deanna White, CEO and COO of Surf Air Mobility, said: "Our relationship with Electra showcases the power of Surf Air Mobility's platform to offer emerging aircraft OEMs like Electra the ability to go to market faster, with reduced operational risk, and increased scalability."

Marc Allen, CEO of Electra, said: "These demonstrations showcased breathtakingly short takeoffs and pinpoint landings with the power to transform aviation as we know it. It's a great credit to our amazing teammates and partners that we are now demonstrating these capabilities in real world, non-airport environments."

This announcement is further progress on Surf Air Mobility and Electra's previously announced agreement to bring Ultra Short aircraft to market and incorporate SurfOS into joint systems. Surf Air Mobility has previously secured preferred delivery positions for 90 Electra Ultra Short aircraft.

Surf Air Mobility did not operate the Electra demonstration flights.

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures. It is also the largest U.S. passenger operator of Cessna Caravans. In addition to its airline operations and On Demand charter services, Surf Air Mobility is developing an AI-powered software platform for the Regional Air Mobility industry. The company is also working to commercialize electrified aircraft and develop proprietary powertrain technology for the Cessna Caravan. Surf Air Mobility plans to offer its software and electrification solutions to the Regional Air Mobility industry to improve safety, efficiency, and profitability.

About Electra

Electra.aero, Inc. (Electra) is an advanced aerospace company building hybrid-electric Ultra Short airplanes that achieve never-before performance advantages to fly people and cargo seamlessly without airports, emissions, or noise. With the Ultra Short, Electra is pioneering Direct Aviation, the next level of connectivity that brings air travel closer to where we live, work, and play. Electra's Ultra Short technology delivers 2.5X the payload and 10X longer range with 70% lower operating costs than helicopters and eVTOLs with significantly greater safety and far less certification risk.

Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, with over 40 prior aircraft successfully developed and/or certified. Lockheed Martin Ventures, Honeywell, and Safran are among Electra's strategic investors along with Prysm Capital, Statkraft Ventures (Norwegian sovereign fund), the Virginia Innovation Partnership Corporation (VIPC), and other private investors. Electra's contracted customers include NASA, the U.S. Air Force, the U.S. Army, and the U.S. Navy, along with over 2,200 Letters of Intent from 60+ commercial customers, including both airlines and helicopter operators.

Forward-Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the functionality and timing of the commercial release of SurfOS, the total addressable market for SurfOS, Surf Air's profitability and future financial results and its ability to achieve its business objectives. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company and reflect the Company's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: Surf Air's ability to anticipate the future needs of the air mobility market; Surf Air's future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air's development of its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air's growth; the inability of Surf Air's customers to pay for Surf Air's services; the inability of Surf Air to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air, the risks associated with Surf Air's obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.

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