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Ocean Power Technologies secure key deal for WAM-V Unmanned surface vehicles

Ocean Power Technologies Inc

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to share exciting news about the company's success. Ocean Power Technologies has received multiple orders for fully integrated WAM-V Unmanned Surface Vehicles, totaling over $1.25 million. This significant achievement underscores the growing demand for OPT's advanced marine technologies and their applications in various fields such as maritime surveillance, environmental monitoring, and ocean data collection. The WAM-V USV represents the cutting edge of maritime innovation, offering superior performance in diverse ocean conditions. Its versatility and reliability make it an ideal choice for a wide range of marine applications, from data collection to security surveillance and environmental monitoring. Stratmann highlighted that the recent commercial orders have come from clients in Latin America, demonstrating the broad capabilities and applications of the WAM-V USVs. OPT's commitment to delivering customizable and scalable solutions has positioned the company as a preferred partner in the industry. Overall, this success reflects Ocean Power Technologies' dedication to providing innovative solutions that meet the evolving needs of the marine industry, and it marks an exciting milestone in the company's journey towards continued growth and impact in the field of marine technology. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

February 28, 2024 05:30 AM Eastern Standard Time

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ASTRO America joins Government of Guam and US Navy for Announcement of ‘Project Plan’ for 3D Printing Center on Guam

ASTRO America

The Applied Science & Technology Research Organization of America ( ASTRO America ) joined Governor Lourdes A. Leon Guerrero of Guam and U.S. Navy Rear Admiral Scott Pappano, Program Executive Officer, Strategic Submarines (PEO SSBN) at a joint meeting last week, where they announced a project plan for building an additive manufacturing (AM) technology and workforce education center on Guam. This project is the culmination of efforts, spearheaded by the Governor over two years ago, to bring industrial additive manufacturing (or 3D Printing) to the island in order to diversify and expand Guam’s economy. She and her administration commissioned a study by ASTRO America, a manufacturing policy think-tank, to evaluate the feasibility of bringing such technology to Guam. A strong advocate for modernizing submarine production and addressing material readiness challenges through advanced technology, Rear Adm. Pappano and his team became natural partners, especially as they implement and scale innovative solutions to modernize America’s submarine industrial base. The new center is envisioned to serve a dual mission of: 1) Advancing national security by giving the submarine industrial base abilities to print components on-demand at the point-of-need. 2) Supporting economic development in Guam, forming a workforce skilled in key science, technology, engineering, and mathematics (STEM) careers, while also building out a new industry sector on-island, capable of delivering complex ship components. “Our announcement marks an historic inflection point for both the Government of Guam and the United States Submarine Industrial Base,” said ASTRO America President Neal Orringer (former Department of Defense Director of Manufacturing). “Working together, we will build an innovative and resilient technology base. Not only will we train a new generation of advanced manufacturing engineers, and operators but we will ensure the Navy’s access to critical capabilities for prototyping, producing, and validating key parts, components, and materials through advanced manufacturing and 3D printing capability.” The project plan discussed by Governor Leon Guerrero and Rear Adm. Pappano involves three key phases to develop and sustain submarine industrial base capabilities in the Indo-Pacific. PHASE 0: Structure and Business Plan. This phase, announced earlier this year, includes designing an advanced manufacturing technology and education center on Guam, with plans to procure, position, and operate industrial equipment on the island. A satellite campus at the University of Guam will be comprised of several partners that are mainland U.S.-based universities with leading industrial manufacturing higher education programs. This concept will include strategies for the campus’ long-term training, operation, and sustainment. Additionally, details for building capabilities on-site for part-production and test/evaluation will be developed, in concert with leading submarine industrial base and government officials to ensure supply can meet demand in Guam. PHASE 1: Staging and Transition. Based on the plans and concepts established in Phase 0, while the Government of Guam is constructing a permanent facility, the team will procure equipment and position technology appropriately within shipping container modules to establish initial capability, and determine optimal factory equipment and large-scale testing configuration for qualification of advanced shipbuilding tools and components. The campus will be operational, enrolling students with appropriate support staff and technology integration. Additionally, use-cases will demonstrate effectiveness of the team’s short- and long-term approach to part prototyping and validation. PHASE 2: Deployment and Operational Launch. In the next stage, modules with 3D production and advanced inspection equipment will be positioned and transitioned for implementation on Guam. Coursework will be underway for students in Guam for on-island credentialed higher education, as well as prototyping and testing/evaluation of naval ship production parts to support the submarine supply chain. Each of these phases will be carried out in close coordination with and direction from another leading defense nonprofit organization, BlueForge Alliance (BFA), which serves as project integrator for the submarine industrial base’s broad-based initiatives across every region of the United States. At the meeting, Governor Leon Guerrero and Rear Adm. Pappano affirmed their joint commitment to this project plan, including support from the Guam Economic Development Authority and University of Guam in establishing a facility and investments by BFA on behalf of the Navy to advance common goals, including enabling the future tri-lateral AUKUS partnership. The project’s success will be measured by the team’s efforts to catalyze growth of a specialized advanced manufacturing workforce, as well as necessary capabilities to produce parts that will meet growing national security needs for the submarine industrial base. “I am pleased to join Rear Admiral Pappano in developing this project plan, informed by the input of public and private entities across the island of Guam,” said Governor Leon Guerrero. “This plan will create new job opportunities for Guam while contributing to America’s national security interests. It’s a win-win.” “The Navy is excited to be working with the Government of Guam and the great team at ASTRO on this vital mission to further the national imperative for advanced manufacturing capability and the workforce to execute those requirements in a strategic location that directly benefits our ships and submarines,” said Rear Adm. Pappano. ASTRO will continue to manage this effort, with support from both the U.S. Navy and the Government of Guam. The project is expected to be informed by Phase I of the feasibility study completed for the Guam Economic Development Authority last year, as well as the second report being completed with the Guam Bureau of Statistics and Plans. That forthcoming report is focused on developing an implementation plan to establish an ecosystem tailored to distinct advanced manufacturing and AM requirements, as well as the unique economic and geo-political conditions on Guam. Both agencies will play roles in the new project that advances both economic and security needs through AM development on the island. For more information on this project, click here. The Applied Science and Technology Research Organization of America (ASTRO America) is a 501(c)(3) not-for-profit, non-partisan Research Institute and Think Tank. It was established in 2018 to advance the public interest through manufacturing technology and policy. Led by manufacturing professionals with broad public and private sector experience, ASTRO America supports collaborations by government agencies and companies to address supply chain challenges in highly regulated industries, including aerospace and defense. Find out more: https://www.astroa.org/ Contact Details Elizabeth Heaton +1 202-445-9858 elizabeth@astroa.org Company Website https://www.astroa.org

February 27, 2024 12:42 PM Eastern Standard Time

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S&U PLC navigates economic and regulatory challenges, eyes future growth

S & U PLC

S&U PLC chairman Anthony Coombs delved into the company's trading statement for the 12 months ended 31 January 2024 in an interview with Proactive's Stephen Gunnion. Despite a challenging year due to a number of headwinds facing the sector, the motor and property finance group remained resilient, with improving prospects. Coombs attributed the past year's to the cost of living increase and heightened regulatory activities by the Financial Conduct Authority, aimed at protecting customers under economic pressure. This regulatory environment created headwinds for S&U, slightly impacting its results. Consequently, pre-tax profits are expected to be 10 to 15% below analysts' consensus. However, Coombs said the flow of new business into both of S&U's sectors—motor and property finance—is robust, with the company facing challenges in collections due to regulatory scrutiny. S&U's diverse business model, including its Advantage motor finance and Aspen bridging loan business, has helped it navigate pressures. Aspen, in particular, saw cumulative repayments increase by more than 50%, benefiting from high demand in the SME sector for development and refurbishment loans—a demand not fully met by traditional banks. This diversification is expected to aid in the company's recovery, especially as economic conditions improve. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

February 22, 2024 10:46 AM Eastern Standard Time

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NAFA Announces 2024 Board of Directors

NAFA Fleet Management Association

NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, proudly announces its new 2024 Board of Directors, led by Mike Camnetar, CAFM, Fleet Services Manager for General Mills Inc. NAFA’s Board of Directors comprises professionals from many sectors and enterprises, including technology firms, urban municipalities, foodservice enterprises, healthcare entities and more. “As we dive into the heart of our bylaws and strategic plan this year, it's clear that we're charting a course towards a stronger, more cohesive NAFA,” said Mike Camnetar, CAFM, NAFA Board President. “By embracing inclusivity in our governance and refining our strategic focus, we're not only enhancing the association's vitality but also fostering a more vibrant community for our members. This year's Board of Directors, with its diverse expertise and unwavering commitment, stands ready to spearhead this transformative journey, ensuring that every decision made reflects our dedication to advancing NAFA's mission and serving the needs of our esteemed members.” The following individuals serving on NAFA’s 13-member 2024 Board of Directors: President: Mike Camnetar, CAFM Fleet Services Manager for General Mills Inc. Senior Vice President: Maria Neve Vice President - eFMC Services for Inspiration Mobility Vice President: Kevin Fisher, CAFM Fleet Professional Secretary/Treasurer: Beth Cooley, CAFM Director for the Commonwealth of Virginia Office of Fleet Management Immediate Past President: Raymond Brisby, CAFM Manager of EMS Fleet Operations for Alberta Health Services Sara Burnam, CAFM, Member Director of Fleet Management for Palm Beach County, FL Fleet Management Al Curtis, Member Fleet Director for Cobb County, GA Fleet Management David Hayward, CAFM, Member Global Fleet Manager for ABM Industries Amy McAdams, CAFM, Member Fleet Manager for Climate Pros William McCarty, Member Chief Operating Officer for Illinois Central Management Services Bob Mossing, Member Manager of Fleet Support and Operations for The Davey Tree Expert Company Alexis Reece, CAFM, Member Fleet Analyst for Ferguson Enterprises Steven Saltzgiver, CAFS, Member Director of Strategic Innovation for RTA Fleet Management Software NAFA is pleased to welcome these expert fleet professionals and skilled individuals to the 2024 Board of Directors. Their dedication to the fleet and mobility world inspires innovation, creates progress and truly keeps the industry moving. For more information on NAFA, visit: https://www.nafa.org/ NAFA Fleet Management Association is the membership organization for professionals who manage the mobility requirements of vehicle fleets that include commercial, public safety, trucks, and buses of all types and sizes; and a wide range of military and off-road equipment for corporations, governments, universities, utility fleets, and law enforcement in North America and across the globe. NAFA’s members are responsible for the specification, acquisition, maintenance, repair, fueling, risk management, and remarketing of more than 4.8 million vehicles that drive an estimated 84 billion miles each year. NAFA’s members control assets and services well above $122 billion each year. For more information, please visit www.nafa.org, and communicate with NAFA on LinkedIn, Facebook, and Twitter. Contact Details Keaveny Hewitt +1 919-622-5276 khewitt@onwrdupwrd.com Company Website https://www.nafa.org/

February 21, 2024 02:00 PM Eastern Standard Time

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Stifel North Atlantic and ASTRO America Announce a First-of-its-Kind Private Equity Fund Under New DOD-SBA Initiative

ASTRO America

Small Business Administrator Isabel Guzman and National Economic Council Director Lael Brainard announced at a White House event last Wednesday that the partnership between Stifel North Atlantic (NYSE: SF) and ASTRO America is the first recipient of a “Green Light” to raise private capital for an SBIC Critical Technologies (“SBICCT”) fund. Officially called the AM Forward Critical Technologies SBIC, the Fund is actively fundraising and moving forward with the final SBA licensing process. The SBA-DoD SBICCT initiative is the first program under a historic SBA-DoD collaboration, launched by Secretary of Defense Lloyd Austin and SBA Administrator Guzman in December 2022. By pairing private capital with SBA administered leverage, the initiative will support private sector investment in US national security-vital component-level technologies and production processes. The structure will achieve the important mission of bolstering U.S. national security and the Defense Industrial Base without reliance on deficit funding, while supporting American small businesses. “This new Fund is important to both our national security and American competitiveness,” said ASTRO co-founder and President, Neal Orringer. “Not only will it provide essential financial support to small and medium-sized manufacturers, but it will help modernize key supply chains, helping accelerate adoption of technologies such as metal 3D printing that are increasingly important to America’s defense and aerospace industries.” He continued, “We are grateful for the DoD and SBA’s leadership in developing innovative approaches for catalyzing the injection of private capital into critical defense supply chains, at no cost to the taxpayer.” ASTRO America leads the White House’s AM Forward initiative, which includes a compact between the Administration and seven iconic American lead system integrators. The AM Forward member companies identified access to capital as a key barrier to eliminating bottlenecks, modernizing and increasing resiliency within their supply chains, particularly in metal castings and forgings. In early 2023, ASTRO selected Stifel North Atlantic as the financial partner to manage the SBIC Fund based on Stifel’s rich history of support for small and middle market companies and extensive experience managing SBIC Funds. ASTRO will lead the Fund’s Technical Advisory Board. “We are deeply committed to both our unique partnership in the SBICCT fund as well as with the SBA more broadly,” shared Victor Nesi, Stifel Financial Co-President. “The SBA has made remarkable progress in developing innovative ways to reach out, support and nurture the small business ecosystem that is so foundational to our organization. We are also grateful for the thought leadership provided to this project by key AM Forward member Lockheed Martin (NYSE: LMT).” Mike Nitka, Managing Director at Stifel North Atlantic offered, “This fund is a rare opportunity to mix purpose and passion. We are advancing the adoption of mission-ready production technology for the US aerospace and defense supply chain while supporting the journey of emerging US small businesses. Through this revolutionary partnership with the SBA, DoD, ASTRO America, and our anchor investors, we have the opportunity to create jobs and build US manufacturing capacity. I applaud all involved as this is a truly unique non-partisan approach to solving for a universal American need – national security.” During the event, in addition to key Biden-Harris Administration officials from the White House, SBA and DoD, Stifel and ASTRO executives also met with leading investors from the financial industry and executives from major aerospace and defense companies. With committed strategic and financial investors, Stifel North Atlantic and ASTRO expect to complete the final phase of the SBICCT licensing process and execute a first closing on the Fund in the coming months. After the initial closing, the Fund will begin actively investing in small business manufacturers to help strengthen the U.S. aerospace and defense supply chains. The White House readout of the event can be read here and the SBA overview of the event can be read here. More information on the SBA-DoD SBICCT initiative can be found here. The Applied Science and Technology Research Organization of America (ASTRO America) is a 501(c)(3) not-for-profit, non-partisan Research Institute and Think Tank. It was established in 2018 to advance the public interest through manufacturing technology and policy. Led by manufacturing professionals with broad public and private sector experience, ASTRO America supports collaborations by government agencies and companies to address supply chain challenges in highly regulated industries, including aerospace and defense. Find out more: https://www.astroa.org/ Established in 1890, with headquarters in St. Louis, Missouri, Stifel is a full-service financial services firm with a distinguished history of providing securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, institutions, corporations, and municipalities. Contact Details Elizabeth Heaton +1 202-445-9858 elizabeth@astroa.org Company Website https://www.astroa.org

February 21, 2024 07:00 AM Eastern Standard Time

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Technology Minerals' Recyclus unveils 'milestone' lithium-ion EV battery recycling partnership

Technology Minerals PLC

Technology Minerals PLC chairman Robin Brundle joined Proactive's Stephen Gunnion with details of a milestone partnership between subsidiary Recyclus Group and Sureservice Autocentres, marking a crucial step in their commitment to safe storage, logistics, and the recycling of EV batteries. The collaboration leverages Recyclus' Wolverhampton facility for the end-of-life processing of lithium-ion batteries, ensuring they are not improperly stored or discarded. The deal with Slicker Recycling enhances its capability to collect hazardous waste from the automotive sector across the UK, utilising over 100 vehicles and nine depots, facilitating around 25,000 collections annually. This system supports the safe and timely collection of materials from both independent and franchise dealer networks. Brundle highlighted the dangers associated with the improper storage of EV batteries, citing recent incidents of fires in dealerships and during transport, underscoring the need for secure transportation solutions like its custom-designed LiBoxes. The process upon the batteries' arrival at the Wolverhampton facility involves thorough inspection, and processing of all five battery chemistries without water or landfill waste, and aims to achieve a sustainable circular economy. Technology Minerals is also exploring ways to separate black mass to retain critical raw materials within the UK, indicating a broader vision for sustainable resource management. Brundle revealed that additional partnerships are in negotiation, promising more updates on their progress. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

February 20, 2024 09:21 AM Eastern Standard Time

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FuelRod Installs Swappable Charger Kiosks at Union Station in DC

Fuel Rod

FuelRod, a leading provider of portable power solutions, today announced the installation of their innovative swappable charger kiosks at Union Station in Washington, DC. FuelRod’s patented two-way exchange mobile charging program will help to keep travelers connected as they pass through the station, and act as the latest addition to their growing network of kiosks both within DC and Nationwide. FuelRod’s installation at Washington Union Station—their second within an Amtrak-serving hub, following a 2023 installation at Los Angeles Union Station—will provide city residents and long-distance travelers alike with portable, environmentally friendly power within the railway station. Visitors will now be able to purchase a FuelRod charging kit or swap an empty charger for a fresh, fully charged replacement at the kiosks to be installed. Washington Union Station is the latest FuelRod location to join an already established network throughout the nation’s capital city. Examples of existing stations in DC include the Walter E Washington Convention Center, Entertainment and Sports Arena, Washington Dulles International Airport, Baltimore/Washington International Thurgood Marshall Airport (BWI), and Six Flags America. “We are extremely proud of the expansion of our FuelRod mobile charging program into Union Station, Washington DC. We have a strong commitment to the traveling public and are focused on continued growth in transportation hubs across the United States,” said COO Joe Yeagley regarding this newest deployment in the nation’s capital. “Staying connected in today’s fast-paced world is more essential than ever, and people on the go should have convenient access to mobile charging regardless of where they happen to be.” The company’s presence in Washington, in turn, is part of a nationwide effort by FuelRod toward a network that people can rely on to stay powered and connected wherever they go. About FuelRod FuelRod is a California-based portable power solutions company and developer of the FuelRod kit—the first reusable, portable charging system that allows you to charge your mobile device on the go, and then recharge or swap for a fresh one. With a growing network of kiosks nationwide, FuelRod can keep your devices powered virtually anywhere you go. Learn more at www.fuel-rod.com. Contact Details Claudio Frescas +1 423-914-9647 claudio@fuel-rod.com Company Website https://www.fuel-rod.com/

February 20, 2024 09:00 AM Eastern Standard Time

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AFC Energy makes progress with Speedy Hire JV; receives first commercial order

AFC Energy PLC

AFC Energy PLC (AIM:AFC, OTC:AFGYF) CEO Adam Bond tells Proactive's Stephen Gunnion that good progress has been made with its Speedy Hydrogen Solutions (SHS) joint venture with Speedy Hire. Bond said the collaboration has led to the company receiving its first commercial order valued at approximately £2 million for fuel cell generators. The company has successfully completed factory acceptance testing for 12 fuel cell stacks and is in the final stages of testing the generator as a whole. This process is critical to meeting contractual obligations with Speedy Hire. Additionally, he said AFC Energy has seen significant market interest, hosting tier-one construction groups, including a visit from Balfour Beatty, and engaging in discussions about potential projects. Internationally, AFC Energy has attracted attention, particularly from the Middle East, continuing to work with Saudi Arabian company Tamgo under an exclusive dealership agreement. Bond also discussed funding awarded under the Clean Maritime Demonstration Competition, earmarked for integrating its ammonia cracker technology with combustion engines in maritime applications. This novel approach aims to support the maritime industry's transition to cleaner energy sources. The company is working towards a feasibility study to demonstrate the integration of its ammonia cracker with a combustion engine, anticipated to conclude by year-end. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

February 20, 2024 06:56 AM Eastern Standard Time

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From ARK to the Skies: Cathie Wood's Big Bet on Flying Taxi Startups

MarketJar

In the investment world, few names carry as much weight as Cathie Wood. Renowned for her visionary strategies and keen eye for disruptive technologies, Wood’s Ark Investments has made waves with her recent investments in the electric aviation sector. Archer Aviation (NYSE: ACHR), an electric aircraft developer backed by industry heavyweights Boeing and United Airlines, saw a surge in interest after Wood's investment of over $30 million in August. 1 Archer develops electric vertical takeoff and landing (eVTOL) aircraft for urban landscapes with the purpose of establishing a reliable air taxi service. Last summer, the Federal Aviation Administration issued the company's flagship Midnight eVTOL a Special Airworthiness Certificate, allowing it to begin test flights. Archer intends to commence piloted "for credit" flight testing in early 2024 with the goal of obtaining FAA Type Certification. In addition to her investment in Archer Aviation, Wood has also set her sights on Joby Aviation, a leader in the race to develop all-electric air taxis. Through her company Ark Invest, Wood acquired nearly $2 million worth of shares in Joby Aviation (NYSE: JOBY), recognizing the company's potential to transform urban mobility with its innovative technology. Joby Aviation just announced a significant deal with Dubai’s Road and Transport Authority (RTA) to introduce air taxi services in the Emirate by early 2026, with initial operations targeted for 2025. This exclusive agreement, signed at the World Governments Summit in Dubai, grants Joby Aviation the sole rights to operate air taxis in Dubai for six years, positioning the city as a global leader in clean and efficient air travel. With the support of the RTA, including financial backing, Joby aims to establish and expand its service operations seamlessly in Dubai. Amidst the excitement surrounding Archer and Joby, another player has quietly emerged as a frontrunner in the air taxi electrification race: Surf Air Mobility Inc. (NYSE:SRFM ). Surf Air Mobility is the largest commuter airline in the US based on scheduled departures, flying more than 450,000 passengers on ~75,000 flights to 48 destinations in the US in 2022. The company also generated over $100 million in revenue, and has plans to electrify regional air travel across the US and beyond. Unlike its competitors, Surf Air Mobility is taking a different approach. Instead of building electric aircraft from scratch, the company is focused on upgrading existing aircraft with fully electric and hybrid-electric engines once its proprietary powertrain technology is certified. This strategic decision can not only accelerate the electrification process but also leverages the proven reliability and existing market adoption of the Cessna Grand Caravan aircraft, setting Surf Air Mobility apart in the rapidly evolving landscape of electric aviation. Pioneering the Future of Air Travel Surf Air Mobility 's recent collaboration with Electra.aero Inc., a next-gen aerospace company, further solidifies its position as a leader in the electrification of air travel. The partnership will utilize Electra’s hybrid-electric short takeoff and landing (eSTOL) aircraft within Surf Air’s tech-based on-demand air mobility service and its Aircraft-as-a-Service (ACaaS) offering. Surf Air Mobility is also expanding its electrification strategy globally through recent partnerships in Africa and South America. The company's collaboration with Z.Boskovic Air Charters, a prominent figure in Kenya's private charters, safari, freight, and corporate travel scene, marks a significant milestone in its electrification efforts. The agreement entails upgrading Z.Boskovic's existing and forthcoming fleet of Cessna Caravans with Surf Air 's electrified powertrain technology once certified. With Z.Boskovic's current fleet of 13 Cessna Caravans already operational, the company plans to bolster its fleet with two additional Caravan aircraft by the end of 2024, solidifying its status as Kenya's largest charter operator of Cessna Caravans. Surf Air Mobility 's partnership with Safarilink, an airline connecting domestic scheduled flights to destinations within Kenya and Tanzania, and Yellow Wings Air Services, a Kenyan air operator serving over 500 airfields throughout the East Africa region, further strengthens its position in the African market. The agreement will see Surf Air Mobility upgrade existing Cessna Grand Caravan aircraft in Africa with its proprietary electrified powertrain technology once certified, marking a monumental milestone in its efforts to expand its global footprint and accelerate the adoption of electric aviation technology worldwide. With a proven track record of success, a dynamic management team, and a clear vision for the future, Surf Air Mobility is poised to become a key player in the electric aviation sector. As investors seek opportunities in the electric aviation sector, Surf Air Mobility offers an opportunity for those looking to invest in the future of sustainable transportation. Click on this link or read their corporate presentation to learn more about Surf Air Mobility Inc. (NYSE:SRFM). Footnotes: [1] https://www.thestreet.com/investing/stocks/cathie-wood-jim-cramer-technology-stocks-investing-joby-aviation-sell [2] https://www.stockwatch.com/News/Item/U-b20240211538091-U!JOBY-20240211/U/JOBY Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Surf Air Mobility Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Surf Air Mobility Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Surf Air Mobility Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-srfm. 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy. 4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Surf Air Mobility Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Surf Air Mobility Inc.’s industry; (b) market opportunity; (c) Surf Air Mobility Inc.’s business plans and strategies; (d) services that Surf Air Mobility Inc. intends to offer; (e) Surf Air Mobility Inc.’s milestone projections and targets; (f) Surf Air Mobility Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Surf Air Mobility Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Surf Air Mobility Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Surf Air Mobility Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Surf Air Mobility Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Surf Air Mobility Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Surf Air Mobility Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Surf Air Mobility Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Surf Air Mobility Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Surf Air Mobility Inc.’s business operations (e) Surf Air Mobility Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Surf Air Mobility Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Surf Air Mobility Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Surf Air Mobility Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Surf Air Mobility Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Surf Air Mobility Inc. or such entities and are not necessarily indicative of future performance of Surf Air Mobility Inc. or such entities. 8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com

February 15, 2024 02:43 PM Eastern Standard Time

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