Surf Air Mobility has placed a firm order for 25 of BETA’s all-electric ALIA aircraft and acquired options for up to 75 more

Surf Air Mobility to operate BETA’s ALIA CTOL for cargo services initially, then become the launch operator for the ALIA CTOL passenger aircraft

Surf Air Mobility plans to establish BETA factory-authorized service centers, with exclusivity in launch regions

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility”), a leading air mobility platform, and BETA Technologies (NYSE: BETA) (“BETA”), an electric aerospace company, today announced an Aircraft Purchase Agreement and strategic partnership intended to accelerate the introduction of safe, reliable, and profitable advanced air mobility solutions. Under the terms of the Aircraft Purchase Agreement, Surf Air Mobility has signed a firm order for 25 all-electric ALIA CTOL aircraft and has the option to add up to 75 additional aircraft to its order. The aircraft will be introduced into Surf Air Mobility’s platform for regional operations. This order adds to BETA’s growing commercial aircraft backlog and highlights the versatility of its ALIA aircraft across passenger, cargo, and medical use cases.

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Surf Air Mobility and BETA electric ALIA aircraft.

As part of the strategic partnership, Surf Air Mobility will combine its operating expertise, existing passenger demand, and established airport infrastructure with BETA’s market-leading electric aircraft and charging infrastructure to launch the first commercial electric passenger service in Hawaii. In addition to flight operations, Surf Air Mobility is preparing to operate a new Maintenance, Repair, and Overhaul (“MRO”) center, which, once certified, will be the exclusive factory-authorized service center for BETA electric aircraft in Hawaii. The MRO facility is anticipated to add a new and growing revenue stream for Surf Air Mobility. The companies also plan to collaborate on the deployment of BETA’s charging and ground support equipment at mutually agreed locations to support Surf Air Mobility’s fleet operations. Surf Air Mobility intends to designate BETA as its preferred supplier for electric ground infrastructure supporting its aircraft.

Deanna White, CEO of Surf Air Mobility, said: “BETA’s aircraft are being designed for commercial operations, with the performance, operating cost, and reliability we believe can be utilized across our scheduled passenger, on-demand, and cargo services. Our Aircraft Purchase Agreement grants us the ability to benefit from BETA’s unique product strategy, starting with the ALIA CTOL variant perfect for missions using existing regional airports, and ending with the introduction of a VTOL variant. Our goal is to lead the commercial rollout of electric aviation, including flying the first paying passenger on a next-generation electric aircraft.”

Kyle Clark, Founder and CEO of BETA Technologies, said: “As a regional airline with real operational discipline, Surf Air Mobility has been reshaping mobility for a long time. We’re proud to partner with them on this next step to electrify their fleet. Launching in Hawaii, with its short-haul routes, inter-island demand, and high fuel costs, enables us to continue to build on our extensive flight experience and transition that demonstrated performance into a scaled airline operation that is reliable and cost-efficient. We look forward to working together to stand up a launch market that will bring electric aviation to daily operations and accelerate expansion into additional regions.”

Surf Air Mobility expects to initially deploy BETA aircraft for cargo services under Mokulele Airlines in Hawaii, an optimal launch market with frequent travel between islands, short-haul routes, and established airport infrastructure.

Following certification of BETA’s passenger configured ALIA aircraft, Surf Air Mobility plans to be the first Part 135 operator to commercialize electric passenger flights for scheduled service and On Demand charter flights.

Details of Strategic Partnership:

1. Surf Air Mobility to be Launch Operator for BETA’s Passenger Aircraft
Surf Air Mobility will serve as a launch operator for BETA’s passenger aircraft, leading early deployment efforts and accelerating broader market adoption through Surf Air Mobility’s integrated platform. To advance toward launch operations, Surf Air Mobility and BETA will conduct a series of demonstration flights using BETA’s ALIA aircraft in 2026 and work collaboratively to cultivate regulatory and political support for the introduction of this next-generation aviation technology. The companies intend to launch joint marketing and communication initiatives that support Surf Air Mobility’s mobility and software services, and BETA’s aircraft.

Surf Air Mobility will provide BETA aircraft customers who prefer to contract operational and/or aircraft management services for BETA aircraft with operational support across multiple mission profiles, including passenger service, regional cargo operations, and on-demand charter flights.

2. Surf Air Mobility Firm Order for BETA Technologies Electric Aircraft
Surf Air Mobility has signed an Aircraft Purchase Agreement for 25 firm BETA ALIA CTOL aircraft, with options to purchase up to 75 additional aircraft. The aircraft order secures priority delivery positions in support of Surf Air Mobility’s launch operator status.

The agreement provides Surf Air Mobility with flexibility across BETA’s electric aircraft family and mission configurations, supporting a range of passenger and cargo use cases. This allows Surf Air Mobility to align aircraft deployment with market demand and operational requirements over time. Surf Air Mobility’s operation of BETA’s electric aircraft is expected to reduce direct operating costs across Surf Air Mobility’s scheduled passenger, on-demand, and cargo operations.

3. Surf Air Mobility Plans to Establish BETA Factory-Authorized Service Centers with Geographic Exclusivity in Launch Regions
BETA and Surf Air Mobility desire to establish an operational framework whereby Surf Air Mobility will serve as BETA's Factory-Authorized Service Center in designated geographic regions. Both companies believe establishing MRO capabilities in launch regions is essential to ensure aircraft availability, reduce maintenance-related disruptions, and support high-frequency operations. BETA will provide Surf Air Mobility with technical support and training, and Surf Air Mobility will invest in specialized tooling, infrastructure, and workforce development necessary to establish a Factory-Authorized Service Center for BETA aircraft.

Subject to the completion of requirements, BETA agrees to designate Surf Air Mobility as the recommended Factory Authorized Service Center for BETA aircraft in the State of Hawaii. The companies expect to expand Factory-Authorized Service Centers to additional regions over time, with the potential for Surf Air Mobility to serve as the Factory-Authorized Service Center for BETA aircraft in such territories. This enables Surf Air Mobility to provide a local, factory-authorized option for operators seeking maintenance, repair, and technical support for their BETA aircraft fleets.

Surf Air Mobility and BETA’s strategic partnership reflects a shared commitment to accelerating the commercial deployment of electric aircraft through integrated operations and maintenance support, beginning with an initial operational rollout in Hawaii.

About Surf Air Mobility
Surf Air Mobility is a Los Angeles-based air mobility platform. With its AI-enabled SurfOS software and electrification programs, Surf Air Mobility provides technology designed to support the modernization of air operations and the adoption of next-generation aircraft. Surf Air Mobility currently operates one of the largest commuter airlines in the United States by scheduled departures, which provides operational scale and real-world operating data to validate and deploy its software. Together, these capabilities position Surf Air Mobility as a leader shaping a more efficient, connected, and accessible future for aviation.

About BETA Technologies
BETA Technologies (NYSE: BETA) is an aerospace company designing, manufacturing and selling high-performance electric aircraft, advanced electric propulsion systems, components and charging systems to top operators worldwide. BETA has built and flown its family of ALIA aircraft, consisting of both conventional fixed-wing electric aircraft (the “ALIA CTOL”) and electric vertical takeoff and landing aircraft (“ALIA VTOL”), more than 100,000 nautical miles, including multiple trips across the United States. BETA is deploying a network of charging infrastructure to enable the growing industry with more than 50 sites online across the United States and Canada. BETA’s intentional approach to developing the enabling technologies necessary to electrify aviation unlocks lucrative aftermarket revenue opportunity over the life of each aircraft. These highly scalable enabling technologies allow BETA to serve a customer base across cargo and logistics, defense, passenger and medical end markets and unlock cost-effective and safe missions. BETA was named the #1 company on TIME’s list of the World’s Top GreenTech Companies of 2025. Visit www.beta.team for more information about BETA and its products.

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 Surf Air Mobility’s future financial results and its ability to achieve its business objectives. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of each of Surf Air Mobility’s and BETA’s management as well as assumptions made by and information currently available to Surf Air Mobility and BETA and reflect Surf Air Mobility’s and BETA’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: the development, certification, and commercialization of BETA’s aircraft; plans and anticipated benefits from BETA’s partnership with Surf Air Mobility; Surf Air Mobility’s ability to anticipate the future needs of the air mobility market; 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 dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; 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 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 outcome of any legal proceedings that might be instituted against Surf Air Mobility, 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 each of Surf Air Mobility and BETA file with the SEC, and investors are urged to review those periodic reports and each of BETA’s 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. Neither of BETA or Surf Air Mobility assume any obligation to update any forward-looking statements except as required by law.

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