Eve Air Mobility and Nordic Aviation Capital Sign Letter of Intent for up to 30 eVTOLs

 Eve will work with NAC on eVTOL leasing strategies for global fleet operations

PARIS, JUNE 20, 2023 – Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW) has signed a Letter of Intent (LOI) with Nordic Aviation Capital (“NAC”), a global leader in regional aircraft leasing, to promote the electric vertical take-off and landing (eVTOL) aircraft through optimized leasing strategies. The LOI establishes that Eve will have the opportunity to utilize NAC’s global presence and asset management knowledge while NAC will acquire 15 firm plus 15 optional eVTOLs that will be leased to fleet operators, supporting the development and scaling of innovative transportation operations.

As the third leasing company added to Eve’s customer list, NAC plays a key role in the development, expansion and success of the eVTOL and Urban Air Mobility (UAM) industry by providing financing, risk management and industry expertise in additional markets across the world. The partnership also allows Eve and NAC to diversify portfolios, encourage environmental conservation and technological advancement, and expand eVTOL leasing options. With the UAM industry focused on electric aircraft, successful collaboration emphasizes the development of environmentally friendly aviation technologies and propulsion systems for a more sustainable future. 

“This partnership with Nordic Aviation Capital offers the world greater convenience and access to the latest and most advanced air travel solutions,” said Andre Stein, co-CEO of Eve. “By leveraging leading technology and providing exceptional customer experiences, fleet operations will enable the growth and development of the urban air mobility network. With the support of NAC, creating strategic partnerships will continue to allow Eve to improve the network and accessibility of urban air mobility.”

Norman C.T. Liu, President & CEO of NAC, said: “We are pleased to have signed this LOI with Eve. This is an important step in our ESG strategy, and we look forward to partnering with Eve to bring these innovative and sustainable solutions to market. 

From design to user experience, reliability and usability, Eve is committed to integrating cutting-edge technology into the UAM industry. Eve takes a comprehensive approach to its eVTOL project, Services and Operations Solutions and Urban Air Traffic Management (Urban ATM) to guarantee air commuters a safe and sustainable transportation alternative. Determined to make UAM a reality over the next two years, Eve is backed by Embraer, with renowned aircraft engineering expertise and a record of successful aircraft construction and certification. Eve is looking toward the future by enhancing its products and services to cultivate the success and innovation of air transportation.

Follow Eve on Facebook, Twitter, Instagram, LinkedIn and YouTube: @EveAirMobility.

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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 Nordic Aviation Capital

NAC is a global leader in regional aircraft leasing and is expanding into larger narrowbody aircraft leveraging its world-class asset management platform. For more information, visit https://www.nac.dk.

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Forward-Looking Statements Disclosure 

Certain statements in this press release include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may,” “intend,” “predict,” “should,” “would,” “predict,” “potential,” “seem,” “future,” “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Eve’s and NAC’s expectations with respect to the announced agreement and future performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Eve and NAC.

These forward-looking statements are subject to a number of risks and uncertainties, including, among others: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) failure to realise the anticipated benefits of the announced agreement between Eve and NAC (iii) risks relating to the uncertainty of the projected financial information with respect to Eve; (iv) the outcome of any legal proceedings that may be instituted against Eve; (v) future global, regional or local economic and market conditions, including the growth and development of the urban air mobility market; (vi) the development, effects and enforcement of laws and regulations; (vii) Eve’s ability to grow and manage future growth, maintain relationships with customers and suppliers and retain its key employees; (viii) Eve’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; (ix) Eve’s ability to successfully develop, obtain certification for and commercialise its eVTOL; (x) the effects of competition on Eve’s future business; (xi) the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; (xii) the impact of the global COVID-19 pandemic and (xiii) those factors discussed in Eve’s Registration Statement on Form 10-K/A filed on May 4th, 2023 under the heading “Risk Factors,” and other documents of Eve filed, or to be filed, with the Securities and Exchange Commission (SEC).

If any of these risks materialise or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Eve does not presently know or that Eve currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Eve’s expectations, plans or forecasts of future events and views as of the date of this press release. Eve anticipates that subsequent events and developments will cause Eve’s assessments to change. However, while Eve may elect to update these forward-looking statements at some point in the future, Eve specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Eve’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.