TBARTA Executive Board Meeting ManagementApril 23, Presentation2021 Team Technology Aircraft Positioned to be the Assembled over 400 engineers Developed technologies First product will be a 7-Seater with significant experience required for high capacity, low eVTOL jet projected to offer in the electric aviation noise, high efficiency, electric the highest capacity and lowest global leader in industry. air travel. noise in the market.
regional electric Economics Service Partners Potential leading payload Will offer passenger mobility Partnerships for eVTOL network air mobility capacity, speed, range and highly services (B2C) and jet leases to for 14 vertiports in US exclusive attractive unit economics with enterprises (B2B). This allows a to Lilium, in negotiation with 10 access to ~$1.5 - $3.0TN TAM. greater proportion of the value further sites to roll-out European chain to be captured. network.
Source: Architectural performance assessment of an eVTOL aircraft (see sources). Morgan Stanley (see sources). Lilium business plan. Note: Planned service launch 2024. Industry-defining fully electric vertical take off & landing jet
Best projected unit economics Best projected market access
7 seats 175 mph 155+ miles Lower noise leading payload cruise speed leading range than open propeller eVTOLs
Source: Architectural performance assessment of an eVTOL aircraft (see sources). Lilium engineering assessment. Management estimates. Note: Cruise speed based on Lilium engineering assessment assuming flight at 10,000 ft. Range refers to physical range (service range + reserves). Business jet format, convenience of a car DuctedJust beauty Electric pic of ducted fan on wing – zoomed in. Vectored Thrust (DEVT)
Proprietary technology at the core of Lilium’s technology platform
Major advantages over open propeller eVTOL
• Lower noise, lower vibration • Larger aircraft with more payload • Scalable Chosen propulsion system has the highest market penetration
of commercial aircraft and business ~95% jets manufactured use ducted fans
Source: GAMA, JADC, Company information (Airbus, Boeing, Bombardier, Embraer), 2009 – 2019. Low noise at take-off allows Lilium access to more landing sites, higher network density
Inaudible during cruise from the ground
Open propeller eVTOLs Lilium Jet ~60 dBA projected at ~60 dBA at 220m 100m
Lilium creates 5x lower noise footprint in hover flight than open propeller eVTOLs
Source: Management estimates. Architectural performance assessment of an eVTOL aircraft (see sources). Note: Assumes similar aircraft weight for open propeller eVTOLs vs. Lilium’s 7-Seater. Lilium has agreed certification basis with EASA and is in concurrent type certification with EASA & FAA
First engagement Certification application with EASA & FAA to accepted by EASA and FAA establish inputs
Regulatory framework: EASA SC VTOL publication (H2 2019)
End 2020: EASA CRI-A01 received – Certification basis agreed1
Certification with both authorities would ensure global 2016 2017 2018 2019 2020 2021 2022 2023 2024 Today market access Technology maturation through several aircraft demonstrators Ground / flight test campaign with several Frequent engagement with regulators aircraft & Type Certification
Source: EASA. Company information. Management estimates. Note: Indicative timeline: Lilium does not control regulatory timelines. (1) In 2020 received EASA CRI-A01 against current EASA SC-VTOL. v Partnering with leading infrastructure Potential annual revenue of ~$1BN partners in Florida to build up to 14 from Lilium Network by 2026. ~$200M of vertiports. Planned vertiports represent first 2 commitments from Engaged in negotiations with key years of revenue growth for Lilium after infrastructure partners for 10 vertiports to commercial launch. leading partners build network across Europe.
Source: Lilium business plan. Florida launch network planned with Ferrovial and Tavistock ` Daytona `
Orlando
Melbourne Jets to be deployed ~125 Tampa St. Petersburg
Number of vertiports 14 Sarasota Port St Lucie Investment from ~$200M partners West Palm Beach Fort Myers
Naples Fort Lauderdale
Miami
Source: Lilium business plan. LILIUM CONFIDENTIAL PAGE 10 Note: Planned network for Lilium in Florida, indicative. Lilium Network (B2C routes). Key Largo Lilium for Tampa
LILIUM CONFIDENTIAL PAGE 11 Integration into Tampa’s public transport system will increase access and enable a seamless customer journey
Boosting connectivity in Tampa
First mile Board Flight Last mile Ticke t pr ice (€ )
63 60 − The Lilium service can be connected with ground public transportation options, such as 174 integrating HART’s fleet of regional electric buses or extended streetcar system into the Lilium journey to fulfill first and last mile travel for passengers Time (min)
− An identified set of city locations can be established for passenger6 pickup and drop-off 60 − The multi-modal transport journey can be integrated into the6 Lilium digital app, enabling a seamless booking experience
− Flexibly integrated into TBARTA's developing and adapting transportation network Parking developers have an opportunity to utilize their assets to pivot into a hypergrowth market category
U.S. Parking lot and garage market 1 U.S. Advanced Air Mobility (AAM) market 2 Billions USD Billions USD
150 Revenue growth is slowing, driven by The AAM market for passenger service is shifts in mobility preferences and expected to launch by 2025, and impact of COVID transform into a $150bn market by 2040 109
+2% +5% 79 11 11 10 10 9 9 10 9 57 8 8 7 8 7 41 30 20 13 6 9 0.1 1 1 2 3 4 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40
Note: 1 US Census Bureau 2 Morgan Stanley Urban Air Mobility Report A Lilium vertiport will increase revenue per parking space by 140% and generate gain of $1.1M revenue per year for the Fort Brooke Garage
Generating overall 1.1M ₋ Assuming 50% of departing Lilium passengers park revenues their cars (720 passengers per day) for an average 6 1.50 Revenue p.a. (M USD) hours, and ticket price is comparable to on-street +$1.1mn parking at $6.10. in parking revenue from 0.40 ₋ $1.5M in annual parking revenue is earned from Lilium Lilium vertiport vertiport customers Loss of existing Additional parking revenue parking revenue from vertiport customers
+144% Enhancing revenue 3,600 per parking space ₋ Revenue per parking space used by Lilium customers increases to $300 per month, versus average $123 per month from monthly parking +140% 1,476 Revenue p.a. (USD) in revenue per parking space when compared to current monthly parking rate Annual Revenue per Annual Revenue Space from Monthly per Space from Ticket sales Lilium customers Fort Brooke could be transformed into high-speed transport connection in the heart of downtown Tampa Thank You Sources
Page Source Link 2, 5 , 9, Architectural performance assessment of an electric vertical • n/a 11, 12 take-off and landing (e-VTOL) aircraft based on a ducted vectored thrust concept, Dr. P. Nathen, 2021 2 Morgan Stanley Research, Flying Cars: Investment • n/a Implications of Autonomous Urban Air Mobility, December 2, 2018 4 European Court of Auditors - A European high-speed rail • https://op.europa.eu/webpub/eca/special-reports/high-speed-rail-19- network: not a reality but an ineffective patchwork 2018/en/ 14 EASA • https://www.easa.europa.eu/sites/default/files/dfu/SC-VTOL- 01%20with%20highlights.pdf There is significant value in Vertiports for developers
Increase in property value Local high-speed connectivity hub enables higher rent and sales listings
Attractive infrastructure return Landing fee and ancillary revenue participation ensure attractive returns on the infrastructure
Additional revenue streams Travellers present opportunities for cross-selling of existing and new services
Factor of differentiation Vertiport is a real differentiator bringing media coverage and public attention
Innovation and thought leadership Partnership enables developers to shape and communicate the future of mobility
LILIUM CONFIDENTIAL PAGE 18 Lilium vertiport and route Car / Bus Case study: Tampa <> Fort Myers Tampa Given the Lilium Jet’s speed and minimal infrastructure requirements, a regional city connection can be easily established to shuttle passengers between Tampa and Fort Myers
70K travel hours saved
22M passenger km removed from highway
2.9K tons of CO2 saved
Safe and comfortable ride with internet Fort Myers connectivity
Time (savings) Lilium 1 hr 20 min 1 1 Includes boarding, first mile, and last mile times Car 2 hr 0 min Bus 2 hr 30 min Lilium operations between Orlando and Tampa could start as early as 2024, creating thousands of jobs over the next five years…
Bringing economic growth to Florida
Number of potential jobs created by Lilium launch
Local partners – on top of potential 2,680 Local partners – base case Lilium 550
860
970 220 480 1,270 120 500 290 250 10 70 Immediate Deployment Setup of Operations Phase 1: Phase 2: Initial network Network expansion …across diverse job fields with specialized aerospace and technology skillsets
Bringing economic growth to Florida
Headquarters Pilots
Example job positions Salary Educational Background Example job positions Salary Educational background ▪ Accountable Manager USD 68k - 80k Software Engineering ▪ Commercial Pilot USD 90k - 100k Commercial Pilot ▪ Software Developer USD 90hk - 105k or Business ▪ Flight Instructor USD 85hk - 95k License or ▪ Customer Support USD 30k - 40k Management Aeronautics
→ Developing expertise in UAM setup and airline management → Developing expertise in electric aircraft flying and pilot training
Maintenance, Repair & Overhaul (MRO) Ground Operations
Example job positions Salary Educational background Example job positions Salary Educational background ▪ Maintenance Engineer USD 45k – 55k Electrical Engineering, ▪ Vertiport Manager USD 50k - 60k Aviation Management, ▪ Quality Inspector USD 35hk – 45k Mechanical Engineering ▪ Service Personnel USD 35hk - 45k Service or Technical ▪ Aircraft Mechanic USD 50 – 60k or Apprenticeship ▪ Aircraft Handling Staff USD 35k - 45k Apprenticeship
→ Developing expertise in electric propulsion and lithium-ion battery → Developing expertise in vertiport operations and electric aircraft handling systems