2021 Lilium Year in Review

Throughout the past year, Lilium accelerated towards our goal: a revolution in sustainable regional air mobility. We unveiled our serial aircraft and listed on Nasdaq. We launched our 5th generation technology demonstrator test flight campaign and confirmed the first Vertiport networks in the US and Europe. We brought on board leading aerospace suppliers and signed commercial deals that will open up new markets. And we welcomed new Board members and colleagues who bring incredible expertise and move us faster on our mission. Read on to learn more about Team Lilium’s 2021.

This summer at Lilium’s HQ, we restarted our flight test campaign with our 5th generation technology demonstrator. The team gathered to watch and listen to the demonstrator’s maiden flight, showcasing a redesigned battery system and optimized sound signature.

Since then it has undertaken more than 25 flights, including combined input maneuvering. Those following the campaign have watched it climb while accelerating to 40 knots (46mph / 74km/h), and descend at 350 feet per minute during a 30° bank turn, successfully executing more than one pilot technique at the same time.

The 5th generation demonstrator is a testbed for the Lilium Jet, our serial aircraft we unveiled in March which is on the path to certification. In April our Chief Technology Officer Alastair McIntosh shared a technical blog on the architecture of the Lilium Jet and what it seeks to achieve. We also welcomed you to a first peek inside the cabin – designed for comfort, without compromising performance.

Throughout the year, we made public significant long-term partnerships – with global aerostructures manufacturer Aciturri, to build the airframe of the Lilium Jet, with Honeywell, a world-leading manufacturer of electronics, engines, and mechanical systems for aircraft, to develop the Lilium Jet’s avionics and flight control systems, and with CUSTOMCELLS, a German manufacturer of customer-specific lithium-ion battery cells, to produce high-performance silicon-anode batteries. These partners are critical to our development journey, which will keep the pace as we enter 2022.

While our 5th generation demonstrator was taking to the skies, we were also forging relationships to develop Lilium’s regional air mobility network and service. We began the year with an announcement of our agreement with Ferrovial to build the first US Vertiport network in Florida, with Palm Beach International Airport one of the first confirmed locations. In May we announced a European partnership with Luxaviation Group, one of the largest business aircraft and helicopter operators worldwide, to support our airline operations in Europe. We also announced plans for networks of Vertiports in Germany, UK and Spain too.

In October, ABB E-mobility agreed to develop, test and supply the MegaWatt fast charging infrastructure across Lilium’s Vertiport network worldwide. Designed to be capable of fully charging batteries in approximately 30 minutes, and charging up to 80% in 15 minutes, they will help enable up to 20-25 flights per aircraft per day. It's another crucial step towards Lilium’s aim to make sustainable, high-speed regional air travel a reality for communities around the world.

One of Lilium’s biggest milestones to date, we completed our business combination with Qell and listed on Nasdaq, strengthening our financial position and accelerating us towards entry into service in 2024.

We are nothing without our strong team and Board, and in 2021 we welcomed some of the most experienced and respected leaders in aerospace and technology to join our mission.

Our Senior Leadership Team was bolstered by Jessica Bryndza as Chief Marketing Officer, Roger Franks as Chief Legal Officer, and Karim Jalbout as Chief People Officer. Meanwhile Lilium’s Yves Yemsi and Alex Asseily stepped up to the roles of Chief Operating Officer and Vice Chairman, respectively. You can see Yves talking about Lilium’s program, and read Alex’s interview with CNBC here.

Lilium closes 2021 as a team of over 750 dedicated employees from diverse backgrounds and talents working across Germany, Switzerland, London, and the US. Before coming together at Lilium, we built category-defining technology and consumer brands, and delivered some of the world’s most successful aircraft. And today, our people are united in our mission to build radically better ways of moving. Want to join the journey in 2022 and beyond? We’re hiring.

Forward Looking Statements

This communication contains certain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding Lilium N.V.’s proposed business and business model, the markets and industry in which Lilium N.V. and its subsidiaries (collectively, the “Lilium Group”) operate or intend to operate, the anticipated timing of the commercialization and launch of the Lilium Group’s business in phases and the expected results of the Lilium Group’s business and business model, including when launched in phases. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. The Lilium Group operates and will continue to operate in a rapidly changing emerging industry. New risks emerge every day. Given these risks and uncertainties, you should not rely on or place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements.

Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including, but not limited to, the following risks: (i) the impact of COVID-19 on the Lilium Group’s business; (ii) the Lilium Group’s ability to implement its business plans, operating models, forecasts and other expectations and identify and realize additional business opportunities; (iii) the Lilium Group’s and its partners’ inability to achieve anticipated specifications for the Lilium jet and any related infrastructure; (iv) general economic downturns or general systematic changes to the industry in which the Lilium Group will operate, including a negative safety incident involving one of the Lilium Group’s competitors that results in decreased demand for the Lilium Group’s jets or services; (v) the failure of the Lilium Group and its current and future business partners to successfully develop and commercialize the Lilium Group’s business or significant delays in its ability to do so; (vi) the Lilium Group may never achieve or sustain profitability; (vii) the Lilium Group will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; (viii) the Lilium Group may experience difficulties in managing its growth, moving between development phases or expanding its operations; (ix) third-party suppliers, component manufacturers or service provider partners are not able to fully and timely meet their obligations or deliver the high-level customer service that the Lilium Group’s customers will expect, and impacts from disruptions in the Lilium Group’s supply chains due to the COVID-19 pandemic, inflationary pressures or otherwise; (x) the Lilium Group’s jets not performing as expected, delays in producing the Lilium Group’s jets or delays in seeking full certification of all aspects of the Lilium Group’s jets, causing overall delays in the anticipated time frame for the Lilium Group’s commercialization and launch; (xi) the technology necessary to successfully operate the Lilium Group’s jets and business operations is delayed, unavailable, not available at commercially anticipated prices, not sufficiently tested, not certified for passenger use or otherwise unavailable to the Lilium Group based on its current expectations and anticipated needs; (xii) product liability lawsuits, civil or damages claims or regulatory proceedings relating to the Lilium Group’s jets, technology, intellectual property or services; (xiii) the Lilium Group’s inability to secure or protect its intellectual property; (xiv) any failure of the Lilium Group to agree upon final commercial terms or fail to finalize and enter into definitive documentation relating to any anticipated commercial transactions or strategic alliances with its prospective partners and suppliers; and (xv) that the final terms of any commercial transaction or strategic alliance with Lilium’s prospective partners and suppliers may differ, including materially, from the terms currently anticipated. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and the Lilium Group assumes no obligation to, and does not intend to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Lilium Group is not giving you any assurance that it will achieve its expectations. A further list and description of risks, uncertainties and other matters can be found in the section titled “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. All forward-looking statements attributable to the Lilium Group or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement.