EHang : Fourth Quarter and Fiscal Year 2023 Earnings Conference Call Presentation

EHang Holdings Limited

Q4 2023 and FY2023 Operational & Financial

Highlights

March 15, 2024

www.ehang.com

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Disclaimer

These materials have been prepared by EHang Holdings Limited (the "Company") solely for informational purposes and have not been independently verified. No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness, completeness or correctness of the information or opinions presented or contained in these materials. None of the Company, its subsidiaries, affiliates, controlling persons, directors, supervisors, officers, partners, employees, advisors, and representatives of any of the foregoing shall have any responsibility or liability whatsoever, as a result of negligence or otherwise, for any loss howsoever arising from any information or opinions presented or contained in or derived from these materials. The information and opinions presented or contained in these materials is subject to change without notice and shall only be considered current as of the date of the presentation.

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Business Highlights for Q4 2023 and Recent Updates

• Quarterly Revenues Increased by 260.9% YoY, 97.8% QoQ, Fiscal Year Revenues Increased by 165.0%
• Maintained Stable and High Gross Margin
• Achieved Positive Operating Cash Flow in the Fourth Quarter of 2023
• Obtained the World's First Pilotless Passenger-Carrying eVTOL Type Certificate ("TC") and Standard Airworthiness Certificate ("AC") for EH216-S from the CAAC
• Moved Forward eVTOL Sales and Operations
• Partnered with GAC Group to Strengthen Capability for Future Production
• Expanded to UAE Market

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The First and Only eVTOL to Obtain TC and Standard AC

• EH216-Shas obtained Type Certificate ("TC") and Standard Airworthiness Certificate ("AC") from the Civil Aviation Administration of China ("CAAC") in 2023, which are the world's first TC and AC for pilotless passenger-carrying eVTOL.
• The certifications demonstrate the EH216-S's full compliance with safety standards and airworthiness requirements set by the CAAC.
• As a result, the EH216-S currently holds official approval for passenger-carrying commercial operations in China.

The journey to obtain EH216-S TC

1,000+ days and nights

500+ parameters

40,000+ trial flights

Extensive laboratory, ground and flight tests of 65 categories and 450+ individual test items

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Strong Quarterly and Yearly Revenue Growth

Ø For the Fourth Quarter of 2023

Ø For the FY2023

Revenue	YoY increase
56.6Million RMB	260.9%
QoQ increase
	97.8%
	RMB Million
Growth Margin	Delivery
64.7%	23units
	EH216 series product

Achieved Positive Operating Cash Flow in Q4, 2023

Revenue

YoY increase

117.4Million RMB 165.0%

Growth Margin	Delivery
64.1%	52units
	EH216 series product

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China Favorable Policies and Regulations Supporting UAM / Low-Altitude Economy

National Policies

Regulations

Oct. 2023

To put eVTOL aircraft into commercial use by 2025

Green Aviation Manufacturing Industry Development Outline (2023-2035)

Effective from Jan. 2024

The first special administrative

regulation of UAVs

Interim Measures for the Flight Management of UAVs

Dec. 2023

Escalated low-altitude economy to be a strategic emerging industry

2023 Central Economic Work Conference

Dec. 2023

Reform of China's Low-altitude

Airspace Management

National Airspace Classification

Mar. 2024

Highlighted low-altitude economy as

a new growth engine

2024 National Government Work Report

Effective from Jan. 2024

Regulation of certification, operator, operation of UAVs

Safety Management Rules for Operation of UAVs

Local Government

Policies

Approximately 20 provinces across the country have prioritized the development of the low-altitude economy in 2024, leading to implementation of favorable policies and regulations, attractive funding and subsidies, infrastructure supports and suitable sites for eVTOL operations, and paving the way for establishing a sustainable low-altitude ecosystem.

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EHang Pioneers China UAM Operations in Shenzhen

"Measures to Promote the High-Quality Development of Low-Altitude Economy in Shenzhen"

By 2025, Shenzhen plans to establish over 600 landing platformsfor low-altitude aerial vehicles and set up more than 220 flight routeswithin Shenzhen*

• July 2023: strategic partnership with Bao'an DistrictGovernment of Shenzhen
• February 2024: strategic partnership with the Bureau of Culture, Radio, Television, Tourism and Sports of Luohu District, Shenzhen

Shenzhen Bolinghas purchased 5 unitsof EH216-S from EHang, and plans to purchase additional 95 unitsfor future use in Shenzhen

(UAM Operation Demonstration Center at OH Bay, Bao'an District)

(Layout design of Luohu District UAM Operation Center)

* Source: Xinhua News

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EHang Pioneers China UAM Operations in Guangzhou

"The Detailed Rules for Implementation of Measures to Promote the High-Quality Development of the Low-Altitude Economy in Guangzhou Development District (Huangpu District)"

With subsidies up to RMB 30 millionfor eligible low- altitude industrial projects

The EH216-S was deployed in Jiulong Lake Park, and more operation sites and flight routesfor aerial sightseeing and logistics in planning

Guangzhou development district low-altitudeindustry fundwith the target fund size of RMB 10

billionwas set up by Guangzhou Development District Communications Investment Group Co., Ltd. and Guangzhou Industrial Investment Capital

(EH216-S conducted demo flights at Jiulong Lake Park)

(Planning map of the Sino-Singapore Guangzhou Knowledge City, where Jiulong Lake Park locates)

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EHang Pioneers China UAM Operations in Hefei

"The Action Plan for Low-Altitude Economic Development of Hefei (2023-2025) with 20 guidelines"

Proposed to build a low-altitude economy cluster, a testing and airworthiness certification base, a flight service and management platform, and set up commercial flight routes for aerial tourism and logistics, etc.

In October 2023, EHang entered into a strategic cooperationagreement with the Hefei Municipal Governmentfor joint development of a low-altitude economy ecosystem in Hefei.

The Hefei Municipal Government plans to extend support to EHang in various forms with a target amount of US$100 million. The support will be provided either through the coordination or facilitation of purchase orders for a

minimum of 100 units of EH216 series products, and/or by providing financing support*

* The specific timing, amount and type of support will be subject to additional definitive agreement.

(EH216-S conducted demo flights at Luogang Central Park in Hefei)

(Luogang Central Park, the world's largest city central park, 12.7 square kilometers, 300,000 daily visitors during holidays)

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EHang Pioneers China UAM Operations in Wuxi

In March 2023, EHang cooperated with the local government in Wuxi for UAM.

EHang received intentional purchase orders for 100 unitsof EH216-S.

The local governments will provide comprehensive support for EHang's eVTOL future operations in Wuxi for various use cases including passenger transportation, aerial sightseeing, firefighting and emergency.

(The Ancient Grand Canal Tourism Resort Area in Wuxi)

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