Surf Air Mobility Announces Launch Customers for SurfOS™ Software

SurfOS is an AI-enabled operating system for the Advanced Air Mobility industry powered by Palantir Technologies.

For more information about SurfOS, click here to view a short video.

Company provides progress update on new SurfOS software features.

Surf Air Mobility Inc. (NYSE:SRFM) ("the Company" or "Surf Air Mobility"), a leading regional air mobility platform, today announced it has entered into agreements with six air operator beta customers to use SurfOS, an AI-enabled software platform for the advanced air mobility industry. The early launch to third-party beta customers marks an acceleration in the timeline of the software initiatives of the Company's Transformation Plan.

SurfOS is powered by Palantir Technologies (NASDAQ:PLTR) ("Palantir"), a global leader in artificial intelligence, enterprise data analytics, and business intelligence. SurfOS is designed to increase efficiency, decrease costs, and drive productivity for stakeholders across the advanced air mobility industry. For more information about SurfOS, click here to view a short video.

Launch customers will have access through SurfOS to customized tools built to improve charter flight distribution, manage customer relationships, and improve flight pricing, while unlocking direct-to-consumer flight distribution for air operators. As functionality and features are added, these customers will have access to further enhancements that will enable them to become vertically integrated mobility companies.

"SurfOS is building an end-to-end solution that will allow us to seamlessly sell our charter flights directly to consumers and integrates the operational complexities we face daily with an intuitive interface that our entire team—from dispatchers to pilots—has embraced," said Toby Woods, Founder and CEO of Direct2, one of Surf Air Mobility's SurfOS launch customers. "It's challenging as an on-demand air carrier to find software partners who not only have both the skills to develop top-notch user interfaces, but also truly understand the detail and precision required by aviation's dynamic operational and stringent regulatory environment."

"We believe that SurfOS will be the category-defining technology platform for the advanced air mobility industry. We are creating an operating system that is addressing the needs of aircraft operators, brokers, and owners, all of whom have a real need for modern aviation software enhanced with AI and big data," said Sudhin Shahani, Co-founder and Board Member of Surf Air Mobility. "Individually, those industry participants could not affordably develop this broad suite of customized applications or organize their data onto a single platform. Given that we work with over 400 air operators through our On Demand platform, we are well positioned to bring SurfOS to market at scale."

Surf Air Mobility continues to launch new SurfOS features, including recent rollout of:

• Flight distribution tools for third-party operators to expand flight margins by increasing direct-to-consumer sales
• AI-based charter broker tools to automate sales and sourcing processes
• Direct integrations with charter supply partners to improve real-time aircraft availability and pricing
• Resource planning for ground staff and pilots to gain efficiencies and cost savings
• Business intelligence dashboards for operational and financial reporting
• Pilot management application for Southern Airways and Mokulele Airlines brands
• Multi-lingual and multi-currency On Demand marketplace capabilities

The Company previously announced that it intends to form Surf Air Technologies, a new venture that will develop, market, and sell SurfOS to the advanced air mobility industry, consisting of thousands of Part 135 regional air operators (small aircrafts limited to under 30 seats with a 7,500 pound maximum payload), of which the Company's Southern Airways subsidiary is one of the largest Part 135 commuter operators in the U.S. by scheduled departures.

Surf Air Mobility is considering bringing in external investors to capitalize the Surf Air Technologies venture.

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based regional air mobility platform and one of the largest commuter airlines in the U.S. by scheduled departures as well as the largest passenger operator of Cessna Caravans in the U.S. In addition to its airline operations, Surf Air Mobility is currently developing an AI powered airline software operating system and is working toward certification of electric powertrain technology. Surf Air Mobility plans to offer our technology solutions to the entire regional air mobility industry to improve safety, efficiency and profitability and reduce emissions.

Forward-Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding projections of Surf Air Mobility's market opportunity and market share, potential benefits and the commercial attractiveness to Surf Air Mobility's customers of Surf Air Mobility's products and services, and Surf Air Mobility's profitability and future financial results. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of Surf Air Mobility's management as well as assumptions made by and information currently available to Surf Air Mobility and reflect Surf Air Mobility's current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: Surf Air Mobility's future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; 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 development of the SurfOS software solution; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility's growth; the inability of Surf Air Mobility's customers to pay for Surf Air Mobility's products and services; 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; the risks associated with Surf Air Mobility's obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that Surf Air Mobility files with the SEC, and investors are urged to review those periodic reports and Surf Air Mobility's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, before making an investment decision. Surf Air Mobility assumes no obligation to update its forward-looking statements except as required by law.

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