LOS ANGELES–January 4, 2024–Surf Air Mobility Inc. (NYSE:SRFM), the air mobility platform transforming regional flying through electrification, has entered into agreements with Safarilink, an airline connecting domestic scheduled flights to destinations within Kenya and Tanzania, and Yellow Wings Air Services Ltd., a Kenyan air operator that serves over 500 airfields throughout the East Africa region, to upgrade their Cessna Grand Caravan aircraft with Surf Air Mobility’s proprietary electrified powertrain technology once certified. This partnership marks another milestone as Surf Air Mobility seeks to expand its global footprint while leading the energy transition to electrified, green aviation. As the exclusive partner to Textron to electrify the Caravan, Surf Air Mobility is focused on building its business in regions around the world, such as Africa, that are already significant markets for that airframe and where transportation providers are quickly adopting innovative mobility solutions.

Surf Air is developing the Supplemental Type Certification for both hybrid and fully-electric variants of the Cessna Grand Caravan. With target reductions of up to 50% direct operating costs and 100% in carbon emissions for the fully-electric powertrain, Surf Air believes the impact it will have for other operators around the world can revolutionize the aviation landscape.

“The Caravan is an amazing aircraft on which to develop our electrified powertrain, and we believe Safarilink and Yellow Wings’ operations are perfectly suited to demonstrate the benefits of our technology,” said Stan Little, CEO of Surf Air Mobility. “We believe Africa is at the cutting edge of regional air mobility. Surf Air is excited to work with innovative, pioneering companies like Safarilink and Yellow Wings.”

“Our goal is to deploy our proprietary electrification technology on a global scale, in addition to our own network,” said Fred Reid, Global Head of Business Development for Surf Air Mobility. “Upgrading Safarilink’s and Yellow Wings’ Caravan fleet with our electrified powertrains unlocks new possibilities. As air travel economics change with electrification, we believe Safarilink and Yellow Wings can improve current services, launch new viable routes, and reduce environmental impact.”

This agreement helps to showcase Safarilink and Yellow Wings as pioneers in adopting the technologies necessary for a greener and quieter (crucial for Kenyan wildlife) future in transportation. It also aligns with the Kenyan government’s recent announcement to completely move away from fossil fuels and toward renewable energy sources by 2030. Both Safarilink and Yellow Wings are already focused on sustainability and wildlife conservation efforts, however the companies believe the move to electrified aircraft will drive sustainability even further while setting the stage for global transformation.

“We at Safarilink are committed to doing everything possible to preserve the natural beauty of the countries we operate in,” said Alex Avedi, CEO of Safarilink. “Implementing Surf Air Mobility’s electric powertrain technology will help us reduce the noise and minimize the climate impact of our flights as we help people from all over the world to experience our region’s incredible ecosystem.

“We strongly believe in alternative propulsion for air travel. We have always been the frontrunners in adopting new systems and innovations. Kenya, with 91% carbon free power generation is the ideal country to spearhead this movement,” said Christian Strebel, CEO of Yellow Wings.

The companies are excited about the potential to transform regional aviation within Kenya and East Africa by demonstrating the viability and impact that electrified Caravans will have on the industry.

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based regional air mobility platform expanding the category of regional air travel to reinvent flying through the power of electrification. In an effort to substantially reduce the cost and environmental impact of flying and as the operator of the largest commuter airline in the US, Surf Air Mobility intends to develop powertrain technology with its commercial partners to electrify existing fleets and bring electrified aircraft to market at scale. The management team has deep experience and expertise across aviation, electrification, and consumer technology.

About Safarilink

Safarilink is Kenya’s premier safari airline with a network of charter and connecting domestic scheduled services to all the best safari destinations within Kenya and across the border into northern Tanzania. Safarilink was formed in January 2004 by a management team who together had more than 40 years experience in providing tourist related air services in East Africa. This professional quality specialist airline now operates 12 aircraft – ranging in size from 13 to 52 seats – that are chosen to meet the specific requirements of operating into bush airstrips within Kenya’s world famous game parks. Safarilink is Kenya’s 3^rd largest airline after Kenya Airways and JamboJet and the largest carrier out of Wilson airport, its home base. The company provides daily scheduled services to 17 destinations and during the busiest periods of the year carries over 30,000 passengers per month. Safarilink currently employs 300 staff of whom 50 are pilots. Safarilink is a member of the Kenya Association of Air Operators.

About Yellow Wings

Yellow Wings is a privately-owned air charter service transporting tourists and business passengers to various destinations around East Africa. Yellow Wings is fully licensed in Kenya and is able to operate nationally to over 500 airfields including the Turkana and Samburu region and internationally within Continental Africa, Middle East, and Asia. Yellow Wings saves travelers more time and by bypassing big airports with inflexible authorities and tedious immigration and customs procedures.

Forward Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements about Surf Air Mobility’s ability to anticipate the future needs of the air mobility market, and future trends in the aviation industry, generally. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “could”, “might”, “plan”, “possible”, “project”, “strive”, “budget”, “forecast”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: Surf Air Mobility’s limited operating history and that Surf Air Mobility has not yet manufactured any hybrid-electric or fully-electric aircraft; the powertrain technology Surf Air Mobility plans to develop does not yet exist; any accidents or incidents involving hybrid-electric or fully-electric aircraft; the inability to accurately forecast demand for products and manage product inventory in an effective and efficient manner; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of hybrid-electric and fully-electric powertrains, 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 Mobility’s growth; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; changes in applicable laws or regulations, and the impact of the regulatory environment and complexities with compliance related to such environment. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. Although Surf Air Mobility believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Surf Air Mobility cannot guarantee future results, level of activity, performance or achievements and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements and financial projections. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Surf Air Mobility does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additional information regarding these and other factors that could affect Surf Air Mobility’s results is included in Surf Air Mobility’s SEC filings, which may be obtained by visiting the SEC’s website at www.sec.gov or the investor relations page at https://investors.surfair.com under the “Financials—SEC Filings” section. Information contained on, or that is referenced or can be accessed through, our website does not constitute part of this document and inclusions of any website addresses herein are inactive textual references only.

The SEC’s website at www.sec.gov or the investor relations page on Surf Air’s website at https://investors.surfair.com under the “Financials—SEC Filings” section. Other information contained on, or that is referenced or can be accessed through, our website does not constitute part of this document and inclusions of any website addresses herein are inactive textual references only.