Vertical Aerospace : Announces the Appointment of Steffen Bay and Derek Cheng

Press Release 03 February 2022

Vertical Aerospace announces the appointment of former NHV CEO, Steffen Bay, as Head of Market Development, Latin America, and former Airbus regional head, Derek Cheng as Head of Commercial, Asia-Pacific

London, UK & New York, USA - Vertical Aerospace ("Vertical") (NYSE: EVTL), a global aerospace and technology company that is pioneering zero-emissions aviation, today announced the appointment of Steffen Bay as Head of Market Development, Latin America (LATAM), and Derek Cheng as Head of Commercial, Asia-Pacific. The appointments build on the company's continued growth and recent successful listing on the New York Stock Exchange (NYSE) in December 2021.

Steffen will be based in Brazil where he will be responsible for leading the implementation of business development activities to open-up the LATAM market further for Vertical. As the former Chief Executive Officer of NHV, a worldwide specialised B-to-B helicopter services business, Steffen will also be Vertical's expert on the helicopter market and opportunity. Steffen has over 20 years' expe-

01/05

Press Release 03 February 2022

rience in the aviation and financial industry, having worked in senior roles at NHV, Era Helicopters, now Bristow Group and Airbus in Europe, Asia, North and South America.

Derek will be based in Singapore and will be responsible for leading all commercial, business and partnership development activities in Asia-Pacific region for Vertical. Derek has held several senior roles at Airbus, both in Toulouse and Singapore, including as the Head of Asia-Pacific for Airbus Urban Mobility and as the Head of Asia-Pacific for Government & Public Affairs and Strategic Partnerships for Airbus Group. Prior to joining Airbus, Derek was the Regional Director for Europe at the Singapore Economic Development Board, responsible for industry development and the promotion of foreign direct investment.

Vertical already has a strong presence in both LATAM and Asia-Pacific. Customers for the VX4, Vertical's zero operating emissions four-passenger electric aircraft include Brazil's largest airline, Gol, for up to 250 aircraft, and in Japan, both Marubeni and JAL, for a combined total of up to 300 aircraft. JAL and Gol's pre-orders are through Avolon, the world's second largest aircraft lessor and a strategic investor and partner of Vertical's. Vertical has also sold across the helicopter market with 25 (and up to 50) pre-orders from Bristow Group. (NYSE: VTOL)

This will be a crucial role as Vertical continues to deliver on key operational milestones in the production of the VX4, Vertical's market leading, zero operating emissions electric aircraft.

Eduardo Dominguez Puerta, Chief Commercial Officer of Vertical Aerospace, said: "We are extremely excited to welcome Steffen and Derek on board. They both bring an incredible amount of knowledge and experience and will help us expand our commercial reach and secure proximity to our customers."

Steffen Bay said: "I am excited to be joining Vertical and helping to expand its exceptional partner ecosystem across Latin America, where I previously worked for almost 10 years. There is a clear and obvious use case for electric aircraft across the region and I look forward to helping the business realise that potential. Having been the launching customer of several aircraft myself, I am very aware of what we will need to accomplish together in the years to come."

Derek Cheng said: "I am exhilarated to be joining Vertical, to grow the business and partnership ecosystem in Asia-Pacific, to pioneer zero-emissions aviation and transform mobility in cities."

Steffen and Derek join Vertical's growing commercial team which also includes Nate Isbell, Head

02/05

Press Release 03 February 2022

of Market Development, North America, who was previously at Kittyhawk and Airbus. The team is led by Eduardo Dominguez Puerta, formerly CEO of Airbus' Urban Air Mobility unit. Vertical has a market-leadingpre-order book (by value) for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market.

About Steffen Bay

Steffen brings a wealth of commercial and corporate experience to Vertical from his successful 20 year career across all aspects of the helicopter services value chain, his experience having worked for an OEM, a helicopter lessor and three different helicopter operators. Combining this with his unwavering commitment to safety and focus on competitiveness makes Steffen a great fit for Vertical and uniquely qualified to move the company forward.

About Derek Cheng

Derek has extensive and wide-ranging experience in strategy, marketing, business development and government having worked in several roles for Airbus, and the Singapore Economic Development Board across Asia-Pacific and Europe. His global professional experience in the aerospace industry, as well as personal passion for aviation - he holds a Private Pilot License - combine for him to be an ideal commercial lead in APAC for Vertical.

About Vertical Aerospace

Vertical Aerospace is pioneering electric aviation. Vertical was founded in 2016 by Stephen Fitz- patrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe's largest independent energy retailer. Over the past five years, Vertical has focused on building one of the most experienced and senior teams in the eVTOL indus- try, who between them have decades of engineering experience and have certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical's top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale Vertical has a market-leadingpre-order book (by value) for a total of up to 1,350 aircraft from American Airlines,

03/05

Press Release 03 February 2022

Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market.

Vertical's ordinary shares listed on the NYSE in December 2021 under the ticker "EVTL". Find out more: vertical-aerospace.com

About the VX4 eVTOL Aircraft

The four passenger, one pilot VX4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel.

Vertical Media Kit

Available here

For more information:
Media	Investors
Samuel Emden	Eduardo Royes
[e-mail]	[e-mail]
[phone]	[phone]

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the certification and the commercialization of the VX4, the differential strategy compared to its peer group, and the transition towards a net-zero emissions economy, as well as statements that include the words "expect," "intend," "plan," "be- lieve," "project," "forecast," "estimate," "may," "should," "anticipate," "will," "aim," "potential," "continue," "are likely to" and similar statements of a future or forward-looking nature. Forward -looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected,

04/05

Press Release 03 February 2022

including, without limitation, Vertical's limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; Vertical's history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; the potential inability of Vertical to produce or launch aircraft in the volumes and on timelines projected; the potential inability of Vertical to obtain the necessary certifications on the timelines projected; the potential that certain of Vertical's strategic partnerships may not materialize into long-term partnership arrangements; the impact of COVID-19 on Vertical's business; as a foreign private issuer and intend to follow certain home country corporate governance rules, Vertical not be subject to U.S. proxy rules and will be subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption "Risk Factors" in Vertical's prospectus pursuant to Rule 424(b) filed with the U.S. Securities and Exchange Commission ("SEC") on December 1, 2021, as such factors may be updated from time to time in Vertical's other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new informa- tion, future events or otherwise, other than to the extent required by applicable law.

05/05