Joby Aviation Completes First Electric Air Taxi Flights in Korea

Good morning!

Joby Aviation has become the first electric air taxi company to conduct
demonstration flights in Korea’s K-UAM Grand Challenge, led by the Ministry
of Land, Infrastructure and Transport. The successful tests showcased
Joby’s readiness for future air taxi commercialization in the Korean market.

Please see attached release and several photos.

Best,
Katie

Katie Pribyl
703-869-4563

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Good morning!Â
Joby Aviation has become the first electric air taxi company to conduct demonstration flights in Koreaâs K-UAM Grand Challenge, led by the Ministry of Land, Infrastructure and Transport. The successful tests showcased Jobyâs readiness for future air taxi commercialization in the Korean market.
Please see attached release and several photos.Â
Best,
KatieÂ
Katie Pribyl
703-869-4563
Joby First Company to Fly in Korea’s K -UAM Grand Challenge



Joby’s electric air taxi was the first to perform demonstration flights in Goheung, Korea, as part
of the nation’s K -UAM Grand Challenge designed to support the commercialization of air taxis in
Korea. Photo: Joby Aviation

Santa Cruz, CA, and Goheung, Korea, December 13, 2024 — Joby Aviation, Inc.
(NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today
announced it has successfully completed a series of flight tests in Korea as part of the K -UAM
Grand Challenge.

Joby is the first electric air taxi company to complete flights as part of the program, which was
launched in 2023 by Korea’s Ministry of Land, Infrastructure and Transport (“MOLIT”) to support
the commercialization of air taxis in the Korean market.

Over the course of a week, Joby successfully completed a range of missions demonstrating
various flight profiles and conditions, including fully wing -borne flight. Joby also demonstrated its
capability to collaborate on aircraft operations with potential K orean partners ahead of future
commercialization in the country.

“Completing our first flights in Korea marks a significant milestone towards launching operations
in the Korean market, where our service has incredible potential to save people time and
improve connectivity in densely populated cities like Seoul and more remote areas like Jeju
Province, where natural barriers complicate ground transportation,” said JoeBen Bevirt, Founder
and CEO of Joby.

Joby is participating in the Grand Challenge as part of the “K -UAM Dream Team,” a consortium
that includes SK Telecom, Hanwha Systems, TMAP and Korea Airports Corporation, which
operates the vast majority of airports in Korea.

Hyung Pil Jun, Assistant Minister of Mobility and Motor Vehicles Bureau for the Korean
government, commented: “Through the Grand Challenge, Joby Aviation, along with the K -UAM
Dream Team including SKT, is showcasing the next generation of world -leading avi ation
capabilities by combining their world -class eVTOL aircraft with the Korean industry's technology
on flight control, traffic management, and vertiport operations.”

The flights, completed at the Goheung Aviation Test Center in South Jeolla Province, will
culminate with a celebratory event on December 14, hosted by MOLIT, during which the quiet
acoustic footprint of Joby’s aircraft will be demonstrated in front of more than 200 guests,
including representatives from Korean and U.S. government agencies.

Joby continues to lead the air taxi industry towards certification of its electric air taxi with the
U.S. Federal Aviation Administration (“FAA”) and recently rolled its fourth production prototype
aircraft off the Company’s manufacturing line in Marina, C alifornia. Korea is the third country in
which Joby has received an airworthiness certification for demonstration and flight testing,
following similar approvals in the United States and Japan.

The Joby electric air taxi is designed to carry a pilot and up to four passengers at speeds of up
to 200 mph, offering high -speed mobility with a fraction of the noise produced by helicopters and
zero operating emissions.

About Joby

Joby Aviation, Inc. (NYSE:JOBY) is a California -based transportation company developing an
all-electric, vertical take -off and landing air taxi which it intends to operate as part of a fast,
quiet, and convenient service in cities around the world. To lear n more, visit
www.jobyaviation.com .

Forward Looking Statements

This press release contains “forward -looking statements” within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to,
statements regarding the development and performance of our a ircraft, the growth of our
manufacturing capabilities, our regulatory outlook, progress and timing; our business plan,
objectives, goals and market opportunity; potential markets for our commercial service,
including the Korean market; and our current expe ctations relating to our business, financial condition, results of operations, prospects, capital needs and growth of our operations, including
the expected benefits of our vertically -integrated business model. You can identify forward -
looking statements by the fact that they do not relate strictly t o historical or current facts. These
statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”,
“intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of
similar meaning in connection w ith any discussion of the timing or nature of future operating or
financial performance or other events. All forward looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including: our ability to lau nch our
air taxi service and the growth of the urban air mobility market generally; our ability to produce
aircraft that meet our performance expectations in the volumes and on the timelines that we
project; complexities related to obtaining certification and operating in foreign markets; the
competitive environment in which we operate; our future capital needs; our ability to adequately
protect and enforce our intellectual property rights; our ability to effectively respond to evolving
regulations and stan dards relating to our aircraft; our reliance on third -party suppliers and
service partners; uncertainties related to our estimates of the size of the market for our service
and future revenue opportunities; and other important factors discussed in the sect ion titled
“Risk Factors” in our Annual Report on Form 10 -K, filed with the Securities and Exchange
Commission (the “SEC”) on February 27, 2024, our Quarterly Report on Form 10 -Q, filed with
the SEC on November 6, 2024, and in future filings and other repo rts we file with or furnish to
the SEC. Any such forward -looking statements represent management’s estimates and beliefs
as of the date of this release. While we may elect to update such forward -looking statements at
some point in the future, we disclaim a ny obligation to do so, even if subsequent events cause
our views to change.


Contacts:

Joby Aviation
Investors:
investors@jobyaviation.com

Media:
press@jobyaviation.com