Eve Air Mobility and AirX Inc. Sign Letter of Intent for up to 50 eVTOLs, Service Support and Urban ATM Software

MELBOURNE, Fla. - April 17, 2024 - Eve Air Mobility ("Eve") (NYSE: EVEX; EVEXW) has signed a letter of intent with AirX Inc., Japan's largest public helicopter air charter service, for up to 10 firm and up to 40 optional electric vertical takeoff and landing (eVTOL) aircraft. The order will support the continued development and scaling of innovative transportation operations in Japan.

"We appreciate AirX's trust and confidence in Eve by not only purchasing our eVTOL aircraft, but services and operations solutions and our Vector - the urban air traffic management software," said Johann Bordais, CEO of Eve. "Japan has been progressive in their approach and interest in eVTOL operations and we look forward to continuing to expand our relationships and as we support Japan's urban air mobility objectives going forward."

"We are deeply impressed not only by EVE's technological capabilities, but also by their commitment to building an ecosystem," said Kiwamu Tezuka, CEO of AirX Inc. "Our aim is to revolutionize the current industry, making transport services useful and affordable for everyone. By integrating our knowledge, experiences, and existing business platform with EVE's comprehensive solutions, we hope to overcome transportation limitations by advancing eVTOL operations in Japan."

AirX is a pioneer of advanced air mobility in Japan and a digital platform company offering a total solution of charter services to the Japanese public via AIROS Skyview. AirX announced the launch of the Greater Tokyo Area's first eVTOL test field, the UAM Centre. This innovative initiative builds on AirX's rich history of offering unique aerial experiences through AIROS Skyview since 2015, marking a significant milestone in the company's journey towards sustainable and accessible urban air mobility (UAM). The UAM Centre is set to revolutionize air travel in the Tokyo metropolitan area, showcasing the company's commitment to innovation and the future of transportation.

The Asia-Pacific region is an important market for Eve Air Mobility. The company continues to build diverse relationships and work with its customers and potential customers to bring a new mode of transportation to help ease traffic congestion in the region. In addition to Japan, Eve is already working closely with customers and operators in Australia, India and South Korea among other locations. As the company works with local partners, its goal is to collaboratively build UAM ecosystems with its operating partners in each of the intended launch communities and is sharing information insights as discussions continue.

Eve's eVTOL aircraft utilizes a lift+cruise configuration with eight dedicated propellers for vertical flight and fixed wings to fly on cruise, with no change in the position of these components during flight. The latest concept includes an electric pusher powered by dual electric motors that provide propulsion redundancy with the goal of ensuring the highest levels of performance and safety. While offering numerous advantages including lower cost of operation, fewer parts, optimized structures and systems, it has been developed to offer efficient thrust with low sound.

Last year, the company announced that its first eVTOL production facility will be located in the city of Taubaté, in the state of São Paulo, Brazil. The company has begun assembly of its first full-scale eVTOL prototype which will be followed by a test campaign. Eve has letters of intent for nearly 3,000 eVTOLs and the aircraft is expected to enter into service in 2026.

Concurrently, Eve continues to develop a comprehensive portfolio of agnostic service and operations solutions, including Vector, a unique Urban Air Traffic Management software to optimize and scale Urban Air Mobility operations worldwide.

Image: https://eve.imagerelay.com/share/1fbb11bf21be4321984e727e4a3727bd

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About Eve

Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.'s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers "EVEX" and "EVEXW." For more information, please visit www.eveairmobility.com.

About AirX Inc.

AirX, as a Vertical Platformer, is at the forefront of transforming air mobility by creating an ecosystem that not only facilitates the operation of helicopters but also pioneers the integration of next-generation eVTOL aircraft and the development and management of helipads. Our comprehensive range of services includes product planning, customer acquisition, reservations, and operations, all seamlessly integrated through our proprietary flight management system. Leading the way in Japan with an extensive number of helicopter flights, AirX is committed to making aerial travel more accessible and affordable for sightseeing, travel, and business purposes. Beyond service provision, we are dedicated to developing advanced systems for reservation, inventory, and flight management, aiming to expand our reach and contribute to the evolution of an air mobility society. For more information, please visit: https://airx.co.jp.

Contacts

Eve Air Mobility: [email protected]

AirX Inc.: [email protected]

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