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Legal Disclaimer p. 1
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 (i) the Lilium Group's proposed business and business
model, the markets and industry in which the Lilium Group operates or intends to operate, (ii) the anticipated timing of the commercialization and launch of the Lilium Group's business and the expected results of the Lilium
Group's business and business model, including when launched in phases, (iii) the application and performance of battery technology in aviation and eVTOL aircraft, (iv) estimates regarding power density, life cycle, weight
and other expected specifications of battery technology, (v) the performance of the Lilium Jet, including its projected range, (vi) expectations regarding the manufacture of Lilium's battery cells, (vii) the scope and benefit of
Lilium Group's procurement and supply chain strategy, (vii) the potential impact of regulations on the Lilium Jet, and (viii) Lilium's affirmation of previously provided guidance for the second half of 2023, including estimated
cash spend. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "target," "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 subject to risks and uncertainties, and as
result are 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 and the respective collaborator 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 there for and the timing of launch or manner in which any proposed eVTOL network or anticipated
commercial activities will operate, or statements regarding the Lilium Group's business and product development strategies or certification program. 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) Lilium's
future funding requirements and any inability to raise necessary capital on favorable terms (if at all); (ii) the eVTOL market may not continue to develop, or eVTOL aircraft may not be adopted by the transportation market;
(iii) the Lilium Jet may not be certified by transportation and aviation authorities, including the European Union Aviation Safety Agency ("EASA") or the U.S. Federal Aviation Administration ("FAA"); (iv) the Lilium Jet may not
deliver the expected reduction in operating costs or time savings that Lilium anticipates; (v) adverse developments regarding the perceived safety and positive perception of the Lilium Jets, the convenience of expected
future Vertiports and Lilium's ability to effectively market and sell regional air mobility ("RAM") services and aircraft; (vi) challenges in developing, certifying, manufacturing and launching Lilium's services in a new industry
(urban and regional air transportation services); (vii) a delay in or failure to launch commercial services as anticipated; (viii) the RAM market for eVTOL passenger and goods transport services does not exist, whether and
how it develops is based on assumptions, and the RAM market may not achieve the growth potential Lilium's management expects or may grow more slowly than expected; (ix) if Lilium is unable to adequately control the
costs associated with pre-launch operations and/or its costs when operations are commenced (if ever); (x) difficulties in managing growth and commercializing operations; (xi) failure to commercialize Lilium's strategic plans;
(xii) any delay in completing testing and certification, and any design changes that may be required to be implemented in order to receive type certification for the Lilium Jet; (xiii) any delays in the development, certification,
manufacture and commercialization of the Lilium Jets and related technology, such as battery technology or electric motors; (xiv) any failure of the Lilium Jets to perform as expected or an inability to market and sell our
Lilium Jets; (xv) any failure of suppliers to achieve serial production of the proprietary and/or novel software, battery technology and other technology systems still in development; (xvi) reliance on third-party suppliers for
the provision and development of key emerging technologies, components and materials used in the Lilium Jet, such as the lithium-ion batteries that will power the jets, a significant number of which may be single or limited
source suppliers, and the related risk that any of these prospective suppliers or strategic partners may choose not to do business with us at all, or may insist on terms that are commercially disadvantageous, and as a result
we may have significant difficulty procuring and producing our jets; (xvii) if any of Lilium's suppliers become financially distressed or go bankrupt, Lilium may be required to provide substantial financial support or take other
measures to ensure supplies of components or materials, which could increase costs, adversely affect liquidity and/or cause production disruptions; (xviii) third-party air carriers are expected to operate Lilium Network
services in the U.S., Europe, the Kingdom of Saudi Arabia, the United Kingdom and Brazil, among other countries, using the Lilium Jets, and these third parties, as well as Lilium, are subject to substantial regulation and
complex laws, and unfavorable changes to, or the third-party air carriers' or Lilium's failure to comply with, these regulations and/or laws could substantially harm Lilium's business and operating results; (xix) any inability to
operate the Lilium Network services after commercial launch at the anticipated flight rate, on the anticipated routes or with the anticipated Vertiports could adversely impact Lilium's business, financial condition and results of
operations; (xx) potential customers may not generally accept the RAM industry or Lilium's passenger or goods transport services; (xxi) any adverse publicity stemming from any incident involving Lilium or its competitors, or
an incident involving any air travel service or unmanned flight based on autonomous technology; (xxii) if competitors obtain certification and commercialize their eVTOL vehicles; (xxiii) business disruptions and other risks
arising from COVID-19 and geopolitical events, including the war in Ukraine and inflationary pressures, may impact Lilium's ability to successfully contract with its supply chain and have adverse impacts on anticipated costs
and commercialization timeline; and/or (xiv) Lilium's inability to deliver Lilium Jets with the specifications and on the timelines anticipated in any non-binding memorandums of understanding ("MOUS") or or binding
contractual agreements with customers or suppliers we have entered into or may enter into in the future. 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
sections titled "Risk Factors," similarly titled sections and elsewhere 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.
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