Surf Air Mobility Anticipates Reducing Potential Future Equity Dilution By Approximately 90%

The anticipated amendment, which will require Securities Exchange Commission review, will reflect the Company's plan to significantly reduce its use of the equity backed GEM facility by reducing the number of shares registered by approximately 35.6 million shares.

Previously announced credit facility expected to facilitate reduction in contemplated future equity dilution.

Company plans registration statement amendment to reduce share subscription facility shares from 40 million shares to $15 million (~4.4M shares at today's price).