Lilium Investor Presentation 2021

Enterprise value benchmarking Based on $2.4bn pro forma EV EV / Revenue EV Infra Vertical mobility Vertical mobility Electric Vehicle Market Leaders & Tech¹ At Announcement Current Trading Current Trading Shared Economy² Current Trading LiDAR³ 4.5x 2.7x 2.3x 2.3x 2.6x 2.5x 1.3x 1.3x 1.8x 1.2x 0.7x Valuation year | LILIUM 2026 ARCHER ARCHER Joby Joby 2026 2026 TESLA NIO XPENG 2026 Trading Median 2026 2025 EV/EBITDA EV Infra Vertical mobility Vertical mobility Electric Vehicle Market Leaders & Tech¹ At Announcement Current Trading Current Trading Shared Economy² Current Trading LiDAR³ 14.6x 11.4x 5.8x 5.6x 4.2x 4.4x 3.4x Valuation year | LILIUM 2026 ARCHER ARCHER Joby Joby 2026 2026 N/A N/A N/A TESLA NIO XPENG 2026 Source: Management estimates, investor presentations, FactSet as of 03/26/2021 Note: Multiples omitted due to lack of broker estimates labeled as "N/A"; Precedent transaction multiples represent multiple at time of announcement at $10.00 SPAC share price; "Current trading" based on current enterprise value, including dilutive impact of warrants, and Wall Street equity research estimates; Multiples less than 0.0x or greater than 100.0x omitted from calculations; 1 Includes Chargepoint, EVgo, QuantumScape; 2 Includes Airbnb, Blade, Lyft and Uber; 3 Includes Aeva, Innoviz, Luminar and Ouster 5.8x Trading Median 2026 2025 Lilium Investor Presentation 2021 50

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