Lilium Secures Sale and Purchase Contracts with eVolare for 4 Jets, with Future Deliveries of Up to 12 Aircraft

LONDON and MUNICH, Germany, May 29, 2024 — Lilium N.V. (NASDAQ:LILM), a developer of the first all-electric vertical take-off and landing (eVTOL) jet and global pioneer in regional air mobility (RAM), and eVolare, a subsidiary of Volare Aviation, which is one of the largest helicopter and private jet operators in the United Kingdom, announced the completion of a binding purchase and sale agreements for the acquisition of 4 Lilium Jets from eVolare. These purchase agreements provide delivery schedules, and guarantees, and warranties along with deposits and pre-delivery payments. The parties have also agreed on terms for the reservation of up to an additional 12 Lilium Jet production slots for eVolare and its customers. Headquartered in Oxford, UK, eVolare plans to operate Lilium Jets in the London area, which will help to connect London with outer cities and the coastal areas of England.

The current agreements result from an initial firm agreement between Lilium and eVolare that was reached in 2022. Since then, the parties have been working together to strengthen their relationship, develop a network of vertiports in the region, and plan for the operation of Lilium Jets after their entry into service. This partnership has led to the creation of binding agreements with up to 16 aircraft being deployed in the London area.

Dustin Dryden, Founder of eVolare, said: “We have come a long way since our initial agreement 18 months ago. Lilium’s ecosystem for eVTOL operations is exceptional because it offers support and services including their organization – Lilium POWER-ON – regulatory support with authorities, and its experience with ground infrastructure development, we trust Lilium to be the best eVTOL partner. This has led us to purchase 4 Lilium Jets directly. eVolare aims to position itself as a leader of eVTOL in the UK. Ultimately, eVolare will be responsible for managing Lilium Jets for our customers and operating the aircraft on either a scheduled or chartered basis. This is just the beginning of a major revolution in regional air mobility.”

Sebastien Borel, CCO of Lilium, added: “eVolare’s vision is clear and is backed by a detailed plan and extensive knowledge of the vertical market. Their expertise has been extremely beneficial to Lilium, and our partnership is advantageous to both parties. The London area is an extremely important market and is a great fit for the range and capabilities of our aircraft. eVolare was our first customer to sign a binding order, and we continue to grow together. I have no doubt that eVolare will lead Lilium to great success in the UK.”

Lilium contact information for media:
Rainer Ohler
+49 172 489 0353

eVolare contact information for media
Katie Guilbert
+44 7778 293696

Lilium Contact information for investors:
Rama Bondada
Vice President, Investor Relations

About Lilium
Lilium (NASDAQ: LILM) is focused on creating sustainable and reliable high-speed and regional transportation for both people and goods. The company uses the Lilium Jet, which is an all-electric vertical take-off and landing jet, that is built to offer leading capacity, low noise, and high performance with zero operating emissions. Lilium is focused on accelerating the decarbonization of air travel. Lilium works with leaders in aerospace, technology, and infrastructure to increase sales and presence in Europe, the United States, China, Brazil, the UK, the United Arab Emirates, and the Kingdom of Saudi Arabia. Lilium employs over 1000 people, with over 500 of these being aerospace engineers, as well as a leadership team that has delivered some of the most successful aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit .

About eVolare
eVolare is the UK’s distributor for the Lilium Pioneer EVTOL jet. It is the subsidiary of Volare Aviation, one of the UK’s top private aviation companies. eVolare is set to pioneer the way urban air travel is operated and take to the skies with a revolutionary new approach to flight. Our mission is to transform the industry with sustainable, electric aircraft that reduce carbon emissions and minimize environmental impact. The Lilium Pioneer jets are designed for efficiency, comfort, and style, offering a luxurious travel experience while also reducing our carbon footprint. With a focus on innovation and sustainability, eVolare is poised to revolutionize the private aviation industry. Join us in our mission to make sustainable flight a reality.

Lilium Forward Looking Statements

This press release contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including, but not limited to, statements regarding: (i) Lilium N.V.’s and its subsidiaries (collectively, the “Lilium Group”) proposed business and business model; (ii) the markets and industry in which the Lilium Group operates or intends to operate; (iii) the Lilium Group’s progress towards type certification (and type certificate validation) of its Lilium Jet with EASA and the FAA; and (iv) the Lilium Group’s partnership with eVolare as discussed herein. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “on track,” “plan,” “project,” “should,” “strategy,” “will,” “would” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and are subject to risk and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this press release include those risks and uncertainties discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, on file with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at . Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and Lilium assumes no obligation to, and does not intend to, update, or revise these forward-looking statements, whether as a result of new information, future events or otherwise.