Vertiflite May/June 2021

Lilium Fact Sheet

■ The 7-Seater Lilium Jet is projected to deliver the best unit economics, with market-leading capacity, low noise and high performance ■ Projected 1,000 jets in operation by 2027 with 30,000 tickets sold per jet per year

Courtesy of Lilium GmbH, March 30, 2021

Lilium 7-Seater Jet ■ Carries six passengers and one pilot ■ Uses proprietary Ducted Electric Vectored Thrust technology ■ Powered by 36 low-noise electric ducted turbo fan engines ■ Cruise speed of 175 mph (280 km/h) ■ Range of 155+ miles (250+ km) including reserves ■ Sound footprint of ~60 dBA at 100 meters in hover ight, inaudible during cruise from the ground ■ Ability to scale without signi cant increase in sound or footprint ■ Certi cation basis CRI-A01 received from EASA and in concurrent type certi cation with EASA & FAA ■ Targeting commercial launch in 2024 and operating in multiple regions in 2025 Business Model ■ Total addressable market of between $1.5T and $3T by 2040 ■ Lilium-branded passenger mobility network and a turnkey enterprise solution, leasing aircraft to corporate and government customers

■ Projected $5M in revenue per jet, per year ■ Targeting pro tability by end of year 2025

Network Florida:

■ Received ≈ $200M in commitments to develop Florida network from infrastructure partners including Ferrovial and Tavistock Development Company ■ Planned network of up to 14 sites — 1,200 miles (1,930 km) of connectivity ■ Projected annual revenue of $600M from ≈ 125 jets Germany: ■ Agreement with Cologne Bonn Airport and Dusseldorf Airport [plus Munich and Nuremberg, announced April 19, 2021] ■ Projected annual revenue of $900M from ≈ 190 jets

Lilium believes its Ducted Electric Vectored Thrust (DEVT) technology provides a breakthrough in aeropropulsion performance.

Lilium has conducted extensive testing of its “electric engines” including this DEVT segment for wind tunnel testing.

in gross proceeds, including $500M held in trust and $600M in a PIPE, reaching a valuation of $3.8B.

such as Toray Industries, providing the carbon composites for the aircraft’s primary structures; Aciturri, manufacturing the fuselage and wing systems; and Lufthansa Aviation Training, training Lilium’s pilots. To date, Lilium has secured approximately $200M of commitments from infrastructure partners, including Ferrovial and Tavistock Development Company. Up to 14 vertiports are already planned in Florida.Liliumisalso inadvanceddiscussionswithkey infrastructure partners for 10 vertiports to build a network across Europe. Other eVTOL SPACs Lilium was the third eVTOL developer with a SPAC in February/ March, and it had been rumored for several weeks (see “SPACtacular Financing: Billions Coming for eVTOL,” Vertiflite , March/April 2021).

Reinvent Technology Partners (NYSE: RTP) announced a SPAC with Joby Aviation on Feb. 24, which raised $1.6B for a $6.6B valuation. The fundraise included $690M cash in trust plus an $835M PIPE and a $75M million convertible note, and is expected to fund the company through certification in 2023, build out of its manufacturing facilities and initial operations in 2024. In addition, helicopter operator Blade UAM landed a $400M SPAC and announced plans on Dec. 15, 2020, to eventually transition to eVTOL aircraft. On Feb. 18, Surf Air Mobility Corp. of Los Angeles announced that it had entered into a definitive agreement to acquire hybrid-electric conventional takeoff and landing (eCTOL) pioneer Ampaire. Small-Time History Wiegand originally conceived the basic eVTOL jet concept in 2013.

May / June 2021

On Feb. 10, Archer Aviation and Atlas Crest Investment Corp. (NYSE: ACIC) announced they would merge in a SPAC with $1.1B

52