Surf Air Mobility (NYSE: SRFM) will leverage Mokulele Airlines’ Hawaii network and SurfOS software with BETA Technologies’ (NYSE: BETA) ALIA electric aircraft to enable near-term electric air service supporting HDOT’s transportation and sustainability goals.

Surf Air Mobility is building a scalable Advanced Air Mobility platform grounded in real-world airline operations, safety, community connectivity, and software.

Surf Air Mobility’s Mokulele Airlines subsidiary is the largest commuter airline in Hawaii, making it uniquely positioned to support the launch of next-generation electric aircraft into commercial service.

Surf Air Mobility Inc. (NYSE: SRFM) (“Surf Air Mobility” or the “Company”), a leading air mobility platform, today announced it has partnered with the Hawaii Department of Transportation (“HDOT”) and electric aerospace company, BETA Technologies (NYSE: BETA) (“BETA”), on the request for proposal (“RFP”) application for the Electric Vertical Takeoff and Landing Integration Pilot Program (“eIPP”), a federal public-private initiative within the White House’s Advanced Air Mobility (“AAM”) National Strategy.

Surf Air Mobility believes its existing operational footprint in Hawaii is an ideal launch market for AAM aircraft. The Company’s airline subsidiary, Mokulele Airlines (“Mokulele”), is the largest commuter airline in Hawaii by scheduled departures, providing high-frequency interisland service across 10 routes and nine destinations. With established airport operations, maintenance facilities, and crew based across Hawaii, Surf Air Mobility has built the foundation to safely and efficiently integrate electric aircraft into existing commercial airline service, an approach that aligns directly with the eIPP RFP’s objectives.

In coordination with HDOT and BETA, Surf Air Mobility would bring together its airline operations, safety culture, SurfOS software, and community connectivity together with BETA’s electric aircraft technology, making it an ideal candidate for the eIPP initiative. BETA’s ALIA electric aircraft is designed for short-haul routes like those flown daily by Mokulele Airlines, creating a practical pathway for electrification within Hawaii’s existing air transportation system. The entities initially plan to conduct cargo-carrying missions between Mokulele’s existing route pairs.

Mokulele Airlines Operational Highlights:

• Operates the largest airline network in Hawaii by airports served and has the most scheduled departures among commuter airlines in Hawaii
• Has operated, in aggregate, tens of millions of revenue passenger miles with proven interisland expertise
• Flew approximately 36,000 flights in 2025, with an average flight length of 51 miles, an ideal length for the first generation of electrified aircraft
• Flew approximately 224,000 passengers in 2025, serving a high percentage of repeat and local fliers
• Achieved 96% controllable completion factor¹
• Employs 196 people in Hawaii, including 96 pilots
• Maintains a strong safety record and certification under FAA Part 135 operations
• Has three maintenance centers located in Honolulu (HNL), Kahului (OGG), and Kona (KOA)
• Provides Essential Air Service connecting underserved island communities
• Has interline agreements with major commercial airlines, including: Hawaiian, Alaska, American, United, and Japan Airlines

BETA’s electric aircraft, ALIA, has flown more than 100,000 nautical miles in real-world operations, generating operational data that supports a disciplined certification-aligned roadmap.

Ed Sniffen, Hawaii Department of Transportation Director, said: “The eIPP initiative would provide an opportunity for Hawaii to be at the forefront of advanced aviation mobility technology, while supporting the Hawaii Department of Transportation’s long-term efforts to develop efficient, affordable, and renewable alternative forms of interisland transportation.”

Deanna White, CEO of Surf Air Mobility, said: “As Hawaii’s largest commuter airline flying approximately 100 flights daily, we understand the routes and operational realities. Our infrastructure is perfectly suited to introduce next-generation aircraft. Participating in the eIPP initiative with BETA would support Hawaii’s leadership in advanced air mobility while delivering quieter, lower-emission transportation for communities and visitors.”

Kristen Costello, Head of Government and Regulatory Affairs at BETA Technologies, said “Hawaii is exactly the kind of operating environment electric aviation was built to serve. Short, high-frequency routes, strong community connectivity, and a real need for reliable, affordable interisland service make this a natural early market for electrification. Working with Surf Air Mobility and HDOT through the eIPP allows us to demonstrate how electric aircraft can improve access, lower operating costs, and integrate safely into existing airline operations, and deliver real benefits to communities from day one.”

If selected, the eIPP initiative would support additional infrastructure development, operational readiness, and early deployment of electric aircraft in Hawaii, further advancing AAM through real-world airline operations.

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based air mobility platform. With its AI-enabled SurfOS^TM software and electrification programs, Surf Air Mobility provides technology designed to support the modernization of air operations and the adoption of next-generation aircraft. The Company currently operates one of the largest commuter airlines in the United States by scheduled departures, which provides operational scale and real-world operating data to validate and deploy its software. Together, these capabilities position Surf Air Mobility as a leader shaping a more efficient, connected, and accessible future for aviation.

Forward-Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the benefits of Surf Air Mobility’s anticipated partnership with HDOT and BETA, the outcome of the partnership’s application for the eIPP initiative, Surf Air Mobility’s profitability and future financial results and its ability to achieve its business objectives. Readers of this release should be aware of the speculative nature of forward-looking statements. These statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to the Company and reflect the Company’s current views concerning future events. As such, they are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: the outcome of the RFP process for the eIPP initiative; the success of Surf Air Mobility’s anticipated partnership with HDOT and BETA, Surf Air Mobility’s ability to anticipate the future needs of the air mobility market; Surf Air Mobility’s future ability to pay contractual obligations and liquidity will depend on operating performance, cash flow and ability to secure adequate financing; the dependence on third-party partners and suppliers for the components and collaboration in Surf Air Mobility’s development of its advanced air mobility software platform, and any interruptions, disagreements or delays with those partners and suppliers; the inability to execute business objectives and growth strategies successfully or sustain Surf Air Mobility’s growth; the inability of Surf Air Mobility’s customers to pay for Surf Air Mobility’s services; the inability of Surf Air Mobility to obtain additional financing or access the capital markets to fund its ongoing operations on acceptable terms and conditions; the outcome of any legal proceedings that might be instituted against Surf Air Mobility, the risks associated with Surf Air Mobility’s obligations to comply with applicable laws, government regulations and rules and standards of the New York Stock Exchange; and general economic conditions. These and other risks are discussed in detail in the periodic reports that the Company files with the SEC, and investors are urged to review those periodic reports and the Company’s other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov, before making an investment decision. The Company assumes no obligation to update its forward-looking statements except as required by law.

¹ Operational data from February 1, 2025 to January 2026 MTD

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