Lilium N : Appoints Stephen Vellacott as CTO

MUNICH, Germany, Mar 01, 2024: Lilium N.V. (Nasdaq: LILM), developer of the first all-electric vertical take-off and landing ("eVTOL") jet, today announced that Stephen Vellacott has been appointed as Chief Technology Officer. Stephen succeeds Alastair McIntosh. Alastair, who has been with Lilium since 2020, is stepping down to pursue new ventures.

An experienced aerospace-chartered engineer with 40 years of industry experience, including senior engineering roles at Leonardo, Stephen joined Lilium in 2020 as Chief Development Engineer and was appointed Chief Engineer in 2022. With his deep Lilium experience, he is uniquely positioned to succeed in leading the engineering team as Lilium moves at pace towards first manned flight of the Lilium Jet at the end of 2024.

Alastair's leadership at Lilium was key in ensuring several successes, notably safely flying the transition phase and high-speed flight with Lilium's technology demonstrators, overseeing the Lilium Jet through the preliminary and critical design reviews, and delivering EASA Design Organization Approval (DOA) in November 2023.

Alastair McIntosh commented: "I am proud to have worked with a world class team of dedicated engineers at Lilium toward making Lilium's vision of high-speed regional transportation a reality. Stephen's leadership in Lilium's development to date positions him well to drive towards type certification of the Lilium Jet."

Klaus Roewe, Lilium CEO, commented: "I would like to thank Alastair for his significant contribution to Lilium. With Stephen's vast aviation experience, I am confident that he will seamlessly transition into the role and strengthen our position as the leading company in electric air mobility. "

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About Lilium

Lilium (NASDAQ: LILM) is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the Lilium Jet, an all-electric vertical take-off and landing jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology, and infrastructure leaders, and with announced sales and indications of interest in Europe, the United States, China, Brazil, the UK, the United Arab Emirates, and the Kingdom of Saudi Arabia, Lilium's 950+ strong team includes approximately 500 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium's headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit www.lilium.com.

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This communication contains certain forward-looking statements within the meaning of the U.S. federal securities laws (i) Lilium N.V.'s and its subsidiaries (collectively, the "Lilium Group") proposed business and business model, (ii) the markets and industry in which the Lilium Group operates or intends to operate, (iii) the anticipated timing of the commercialization and launch of the Lilium Group's business in phases, including the timing of the first manned flight and the Lilium Jet's entry into service. These forward-looking statements generally are identified by the words "anticipate," "believe," "could," "expect," "estimate," "future," "intend," "may," "on track," "plan," "project," "should," "strategy," "will," "would" and similar expressions. 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 are subject to risk and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this communication include those risks and uncertainties discussed in Lilium's filings with the U.S. Securities and Exchange Commission (the "SEC"), including in the section titled "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2022, on file with the SEC, and similarly titled sections in Lilium's other SEC filings, all of which are available at www.sec.gov. 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 Lilium 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.