#1LILIUM Fiscal Year 2021 Business Update March 1st 2022#2Legal disclaimer No Representations or Warranties No representations or warranties, express or implied, are given in, or in respect of, this presentation. To the fullest extent permitted by law, in no circumstances will Lilium N.V. ("Lilium" or the "Company") or its subsidiaries (collectively, the "Lilium Group") or any of their respective shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Industry and market data used in this presentation have been obtained from third-party industry publications and sources, as well as from research reports prepared for other purposes that the Lilium Group believes are reasonable. The Lilium Group has not independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness, and this data is subject to change. This presentation does not purport to be exhaustive or to contain all the information to make a full analysis of the Lilium Group. Except as otherwise required by applicable law, the Lilium Group disclaims any duty to update the information contained in this presentation. Forward-Looking Statements and Risk Factors This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding the Lilium Group's proposed business and business model, the markets and industry in which the Lilium Group operates or intends 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, including any statements regarding when or whether any strategic collaboration between Lilium, on the one hand, and Azul or NetJets, respectively, on the other hand, will be effected, the number, price or timing of any Lilium jets to be acquired (or if any such Lilium jets will be acquired at all), the price to be paid therefor and the timing of launch or manner in which any proposed eVTOL network or anticipated commercial activities will operate. 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 presentation, 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 realize the anticipated benefits of its recent business combination with Qell Acquisition Corp. ("Qell"); (iii) the Lilium Group's ability to maintain the listing of its securities on the Nasdaq; (iv) the market price of Lilium's securities may be volatile due to a variety of factors, such as changes in the competitive environment in which the Lilium Group will operate, the regulatory framework of the industry in which the Lilium Group will operate, developments in the Lilium Group's business and operations, and any future changes in its capital structure; (v) the Lilium Group's ability to implement its business plans, operating models, forecasts and other expectations and identify and realize additional business opportunities; (vi) the Lilium Group's and its partners' inability to achieve anticipated specifications for the Lilium jet and any related infrastructure; (vii) 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; (viii) 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; (ix) the Lilium Group ma never achieve or sustain profitability; (x) 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; (xi) the Lilium Group may experience difficulties in managing its growth, moving between development phases or expanding its operations; (xii) 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; (xiii) the Lilium Group's jets not performing as expected, delays in producing the Lilium Group's lineup of jets or delays in seeking full certification of all aspects of the Lilium Group's lineup of jets, causing overall delays in the anticipated time frame for the Lilium Group's commercialization and launch of any or all of the anticipated Lilium jet models; (xiv) 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; (xv) any identified material weaknesses in the Lilium Group's internal control over financial reporting which, if not corrected, could adversely affect the reliability of the Lilium Group's financial reporting; (xvi) product liability lawsuits, civil or damages claims or regulatory proceedings relating to the Lilium Group's jets, technology, intellectual property or services; (xvii) the Lilium Group's inability to secure or protect its intellectual property; (xviii) 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, including with Azul and NetJets; (xix) that the final terms of any commercial transaction or strategic alliance with Lilium's prospective partners and suppliers, including Azul and NetJets, may differ, including materially, from the terms currently anticipated; (xx) negative publicity about the Lilium Group, its employees, directors, management, shareholders, affiliated parties or Lilium's founders; and (xxi) currency fluctuation risk related to changes in foreign currency exchange rates from time to time. 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 ("SEC"), 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. LILIUM#3Legal disclaimer (Cont'd Description of Key Partnerships This presentation contains descriptions of some of Lilium's key business partnerships with whom Lilium has entered into feasibility studies, indications of interest, memorandums of understanding or other preliminary arrangements. These descriptions are based on the Lilium management team's discussions and the latest available information and estimates as of the date of this presentation. In each case, these descriptions are subject to negotiation and execution of definitive agreements which have not been completed as of the date of this presentation and, as a result, the nature, scope and content of these key business partnerships remain subject to change. Financial Information Some of the financial information and data contained in this presentation is unaudited and does not conform to Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, the reports and other documents the Lilium Group may from time to time file with the SEC. You should review Lilium's audited financial statements in its filings with the SEC for a presentation of Lilium's historical IFRS financial information. Trademarks This presentation contains the trademarks, service marks, trade names and copyrights of the Lilium Group and other companies, which are the property of their respective owners. Graphic Representations Aircraft depicted in this presentation have been rendered utilizing computer graphics. The information contained herein is made as of March 1, 2022 and does not reflect any subsequent events. LILIUM#4Key highlights 01 New opportunity to sell aircraft through private sales and fractional ownership LILIUM 02 ***** LILIUM NETJETS MoU with NetJets for the sale of up to 150 Lilium Jets plus related after-market services 03 Extension of jet configurations with premium 4-pax club cabin configuration for private and fractional market 04 Rigorous PDR: Simplification, reduction of technical and certification risk and highest safety standards P. 4#5Cash spending 2021 on budget Cash spend for fiscal year of $217M as of Dec 31st (planned budget of $221M)¹ Cash spend of $72.7M for Q4 driven by planned acceleration of development program; Q1 2022 expected to be lower Technology investments in Q4 due to battery development, energy and wind tunnel testing Liquidity of ~$400M² at year end 2021 ¹ Excluding transaction-related costs incurred in connection with our completed business combination with Qell, the PIPE Financing and a minority investment into enabling technology. 2 Consists of cash and cash equivalents and other financial assets. LILIUM 11 WILL P. 5#6Private and fractional sales: A new supplemental segment Strong interest from private & business professional customers Early adopters of eVTOL Greater pricing flexibility Offset significant carbon emissions of private jet sector LILIUM wwwwwwwx#7MoU with the world's largest private jet charter company NetJets MoU intent: NetJets to have right to order up to 150 Lilium Jets Support Lilium Jet sales to private individuals NetJets Inc. affiliate as flight operations partner for Lilium network Subject to the parties finalizing commercial terms and entering into definitive documentation LILIUM CA LILIUM NETJETS P. 7#8One aircraft. Many possibilities. LILIUM P. 9#9MODULAR CABIN Flexible by Design. LILIUM LILIUM 6 К 1. Seat rails 4. Panoramic windows RE 3 5 L 0 0 00 00 2. Flexible furniture system 5. Generous ceiling height 2 000 6 000 00 00 00 0000 000 00 00 00 0 00 0 0000 00 00 00 000 3. Modular sidewall panels 6. Aft luggage stowage P. 10#106 PASSENGER SHUTTLE CABIN Generous space & comfort in a high-capacity configuration. LILIUM LILIUM LILIUM Generous legroom Luggage space Large windows P. 11#114 PASSENGER CLUB CABIN Defining the highest standards for space, comfort and design. LILIUM LILIUM Face-to-face seating LILIUM Cabin furniture options Premium seats P. 12#12CARGO CABIN A spacious cabin for high-speed logistics. LILIUM LILIUM ~6m³ volume Loading rails Well suited for bulk loading P. 13#13Rigorous PDR assessment Flexible cabin architecture Reduction from 36 to 30 engines Lower part count, weight and complexity Better aerodynamic balance Potential for lower costs Reduced certification risk by increasing performance margins Supporting highest commercial aviation safety standards. - - PDR closure ongoing: Expected release of design data to supply chain in Q2 2022 LILIUM HO P. 14#14High-speed flight testing to begin in Spain Flight test demonstrator moved to Spain ATLAS Flight Test Center: Optimal flight conditions Will perform full transition and high-speed testing Completion of additional demonstrator aircraft on track LILIUM MILO ZAJ#15Building the leading electric aviation company of the 21st century Important Appointments People Karim Jalbout Chief People Officer Partner at Egon Zehnder, leadership roles at Sony Ericsson Mobile and Diageo EgonZehnder Sony Ericsson LILIUM Commercial Sebastien Borel Vice President Business Various senior Sales & Marketing Leadership roles at Airbus & Honeywell Honeywell AIRBUS Engineering John Wyzykowski Head of Propulsion Senior Director Engineering and other executive level roles at Pratt & Whitney Canada Pratt & Whitney A United Technologies Company Guilherme Oliveira Chief Engineer - Flight Mechanics Principal Engineer at Gulfstream Aerospace Corporation Gulfstream EMBRAER Andy Strachan Chief Test Pilot Served at Royal Air Force (RAF), Chief Test Pilot at Leonardo Helicopters OROYAL AIR FORCE LEONARDO P. 16 PREVIOUS ROLES#16Thank you - Q&A LILIUM 000 C000 000000 en