NEWS

FARNBOROUGH, United Kingdom, July 19, 2022: Lilium N.V. (NASDAQ: LILM) (“Lilium”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has signed an agreement with AAP Aviation Group AS (“AAP Aviation”) to develop an eVTOL network in Scandinavia. Under the agreement, AAP Aviation intends to purchase 40 Lilium Jets and collaborate with Lilium to identify and develop landing sites in the Scandinavian countries, starting with Norway.

Together, AAP Aviation and Lilium plan to offer sustainable travel mobility to Scandinavia using the all-electric Lilium Jet, supplementing existing regional aircraft routes and ensuring flexible and time-saving low-emission travel between cities and communities. AAP Aviation and Lilium expect the market for on-demand aviation services to grow rapidly, pending authority approval of aircraft models and route infrastructure.

Espen Høiby, CEO of AAP Aviation said: “We have disrupted the aviation industry once before and are set do so again. Due to the mix of water, terrain and mountains, Norway is particularly suited to regional air mobility. With its vertical take-off and landing capability, high speed and regional range, the Lilium Jet can achieve hours of time savings compared with today’s transportation modes. The Lilium Jet performance, its low noise profile and its spacious cabin makes the ideal aircraft to develop sustainable air transport in Scandinavia.”