Surf Air Mobility and Electra Enter Bilateral Agreement to Bring eSTOL Aircraft to Market, Incorporate Surf Air Technology into Joint Systems, and Create Leasing Partnership

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”, “Surf Air”), a leading green regional air mobility platform, and Electra.aero Inc. (“Electra”), a next-gen aerospace company, have joined forces to introduce affordable, sustainable, and easily accessible regional air travel to a broad customer base leveraging Electra’s hybrid-electric short takeoff and landing (eSTOL) aircraft on Surf Air’s technology-driven, on-demand air mobility platform, and through Surf Air’s Aircraft-as-a-Service (ACaaS) offering to air operators.

Surf Air has secured early delivery positions for 90 Electra eSTOL aircraft for integration into the Surf Air national flight network including Southern Airways Express and Mokulele Airlines, as part of Surf Air’s aim to use its platform to support the launch, growth, and optimization of new electrified aircraft. The Electra eSTOL aircraft’s ability to take off and land in as little as 150 feet will enable direct-to-destination air transportation beyond large airports, including small regional airports and novel Advanced Air Mobility (AAM) infrastructure, expanding regional transportation to a broader customer base than private aviation currently serves.

The agreement between Surf Air and Electra highlights several key points of collaboration:

• Surf Air secures preferred delivery positions on 90 eSTOL aircraft from Electra
• Surf Air and Electra will collaborate on the development of route networks to be served by Surf Air’s air mobility network leveraging the Electra eSTOL aircraft
• Surf Air is the preferred lessor and provider of Electra eSTOL aircraft to Surf Air customers under its Aircraft-as-a-Service leasing program
• Surf Air, its data services partner(s), and Electra will collaborate on the development of predictive analytics systems to reduce overall operating costs and streamline operations.

“Electra stands out as one of the early market leaders in regional air mobility, and we’re excited to bring them onto our platform. Their innovations around hybrid-electric, short takeoff and landing aircraft—which can essentially take off and land on a football field-sized space—will unlock tremendous opportunities within the changing landscape of regional air mobility. We intend to leverage our leading position to become the definitive launch platform for new advanced aircraft technologies such as Electra,” said Stan Little, Chief Executive Officer (CEO) of Surf Air Mobility.