Eve and Moviation Sign Letter of Intent for First eVTOL Urban ATM Agreement in South Korea

MELBOURNE, Fla. – Sept. 28, 2023 – Eve Air Mobility ("Eve") (NYSE: EVEX; EVEXW) and Moviation, South Korea’s first Urban Air Mobility (UAM) service provider, announced the signature of a Letter of Intent to purchase Eve’s Urban ATM solution. The software solution will be a key enabler to the implementation and scalability of Urban Air Mobility (UAM) and provides critical traffic management services that will play an essential role in enabling the global UAM market to scale.

The agreement comes as Eve’s Urban ATM (Air Traffic Management) concept has been adopted as part of Korea’s K-UAM Grand Challenge, a phased demonstration program in which Urban Air Mobility (UAM) vehicle safety and traffic management function tests suitable for urban conditions and environments are integrated and operated to support the commercialization of UAM in 2025.

“South Korea is one of the first countries to begin laying the groundwork for Urban Air Mobility and this collaboration with Moviation will help demonstrate the value of Urban ATM technology to safely begin and scale UAM operations in Korea,” said David Rottblatt, vice president of sales and government affairs at Eve Air Mobility. “Eve’s Urban ATM solution, based on existing air traffic control software for piloted, passenger carrying aircraft, provides services for air navigation service providers, urban authorities, fleet operators, vertiport operators and other UAM stakeholders.”

"Both companies will be committed to contributing to the global advancement of the UAM industry through the UATM systematic accumulation and dissemination of data,” said Min Shin, CEO at Moviation. “Moviation is dedicated to delivering a secure and reliable Urban Air Mobility service by leveraging state-of-the-art technology. This includes the seamless integration of the Urban Air Traffic Management (UATM) system, achieved through rigorous testing and the systematic accumulation of flight data, in close collaboration with Eve.”

From before take-off to after landing, the urban air environment will count on integrated systems, services and technologies being developed by Eve to enable the safe launch of an efficient and predictable ecosystem to support eVTOL operations alongside many other airspace users. In the future, the advancement of infrastructure and regulation will rely on these network management services to enable autonomous flight.

Eve has engaged Atech, Embraer’s Air Traffic Control technology and system integrator company, to support the development of the Urban ATM software solution. Eve is leveraging Atech’s experience in developing aviation-grade products from the ATM systems in Brazil.

The company is also continuing to collaborate with regulators, customers air navigation service providers, fleet operators, vertiport developers, airports and other UAM ecosystems stakeholders globally to advance concepts and develop technology to support initial operation and scaling of UAM operations from an ATM perspective.

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About Eve Air Mobility

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, comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve is 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 Moviation

Moviation is a pioneer of a new mobility industry that pursues value beyond conventional knowledge and experience. We aim to provide a new daily lifestyle by bringing imagination into reality and accomplishing them in several phases. Moviation’s goal is to become South Korea's first and the best UAM service provider by utilizing conventional helicopters in our first phase of the plan. While other companies only dream of doing so, we take action in securing our top position as the first-movers in UAM. For more information, visit: www.motivationair.com.

Media Contacts

Eve Air Mobility: [email protected]

Moviation: [email protected]

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Released September 28, 2023