Lilium N : Q1'24 Presentation

Q1 2024

June 11th, 2024

Q1 2024 Business Update

Klaus Roewe	Johan Malmqvist	Daniel Wiegand	Sebastien Borel
Chief Executive Officer	Chief Financial Officer	Co-Founder, Chief	Chief Commercial
and Executive Director		Engineer for Innovation	Officer
		and Future Programs
		and Executive Director

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Legal Disclaimer (1/2)

Forward-Looking Statements and Risk Factors

This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding the Lilium Group's proposed business and business model, the markets and industry in which the Lilium Group operates or intends to operate, the anticipated timing of the commercialization and launch of the Lilium Group's business and the expected results of the Lilium Group's business and business model, including when launched in phases. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Such statements are based on management's belief or interpretation of information currently available. 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 subject to risks and uncertainties, and as a result are subject to change at any time. The Lilium Group operates and will continue to operate in a rapidly changing emerging industry. New risks emerge every day. Given these risks and uncertainties, you should not rely on or place undue reliance on these forward-looking statements, including any statements regarding when or whether any strategic collaboration between Lilium and the respective collaborator will be effected, the number, price or timing of any Lilium jets to be acquired (or if any such Lilium jets will be acquired at all), the price to be paid therefor and the timing of launch or manner in which any proposed eVTOL network or anticipated commercial activities will operate, or statements regarding the Lilium Group's business and product development strategies or certification program. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Many factors could cause actual future events to differ materially from the forward looking statements in this presentation, including, but not limited to, the following risks: (i) Lilium's future funding requirements and any inability to raise necessary capital on favorable terms (if at all); (ii) the eVTOL market may not continue to develop, or eVTOL aircraft may not be adopted by the transportation market; (iii) the Lilium Jet may not be certified by transportation and aviation authorities, including the European Union Aviation Safety Agency ("EASA") or the U.S. Federal Aviation Administration ("FAA"); (iv) the Lilium Jet may not deliver the expected reduction in operating costs or time savings that Lilium anticipates; (v) adverse developments regarding the perceived safety and positive perception of the Lilium Jets, the convenience of expected future Vertiports and Lilium's ability to effectively market and sell regional air mobility ("RAM") services and aircraft; (vi) challenges in developing, certifying, manufacturing and launching Lilium's services in a new industry (urban and regional air transportation services); (vii) a delay in or failure to launch commercial services as anticipated; (viii) the RAM market for eVTOL passenger and goods transport services does not exist, whether and how it develops is based on assumptions, and the RAM market may not achieve the growth potential Lilium's management expects or may grow more slowly than expected; (ix) if Lilium is unable to adequately control the costs associated with pre-launch operations and/or its costs when operations are commenced (if ever); (x) difficulties in managing growth and commercializing operations; (xi) failure to commercialize Lilium's strategic plans; (xii) any delay in completing testing and certification, and any design changes that may be required to be implemented in order to receive type certification for the Lilium Jet; (xiii) any delays in the development, certification, manufacture and commercialization of the Lilium Jets and related technology, such as battery technology or electric motors; (xiv) any failure of the Lilium Jets to perform as expected or an inability to market and sell the Lilium Jets; (xv) any failure of suppliers to achieve serial production of the proprietary and/or novel software, battery technology and other technology systems still in development; (xvi) reliance on third-party suppliers for the provision and development of key emerging technologies, components and materials used in the Lilium Jet, such as the lithium-ion batteries that will power the jets, a significant number of which may be single or limited source suppliers and the related risk that any of these prospective suppliers or strategic partners may choose to not do business with us at all, or may insist on terms that are commercially disadvantageous, and as a result we may have significant difficulty procuring and producing our jets; (xvii) if any of Lilium's suppliers become financially distressed or go bankrupt, Lilium may be required to provide substantial financial support or take other measures to ensure supplies of components or materials, which could increase costs, adversely affect liquidity and/or cause production disruptions; (xviii) any inability to operate the network services after commercial launch at the anticipated flight rate, on the anticipated routes or with the anticipated Vertiports could adversely impact Lilium's business, financial condition and results of operations; (xix) potential customers may not generally accept the RAM industry or Lilium's passenger or goods transport services; (xx) any adverse publicity stemming from any incident involving Lilium or its competitors, or an incident involving any air travel service or unmanned flight based on autonomous technology; (xxi) if competitors obtain certification and commercialize their eVTOL vehicles before Lilium; (xxii) business disruptions and other risks arising from COVID-19 and geopolitical events, including the war in Ukraine, and including related inflationary pressures, may impact Lilium's ability to successfully contract with its supply chain and have adverse impacts on its anticipated costs and commercialization timeline; and/or (xxiii) Lilium's inability to deliver Lilium Jets with the specifications and on the timelines anticipated in any non-binding memorandums of understanding ("MOUs") or binding contractual agreements with customers or suppliers we have entered into or may enter into in the future. The foregoing list of factors is not exhaustive. 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 the Lilium Group 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. The Lilium Group is not giving you any assurance that it will achieve its expectations. A further list and description of risks, uncertainties and other matters can be found in sections titled "Risk Factors," similarly titled sections and elsewhere in our filings with the U.S. Securities and Exchange Commission ("SEC"), all of which are available at www.sec.gov. All forward-looking statements attributable to the Lilium Group or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement.

Legal Disclaimer (2/2)

No Representations or Warranties

No representations or warranties, express or implied, are given in, or in respect of, this presentation or the accompanying oral presentation (collectively, this "presentation"). This presentation does not purport to be comprehensive or all-inclusive and is for information purposes only. It does not purport to contain all of the information that may be required to perform a complete analysis of the business or prospects of Lilium N.V. ("Lilium" or the "Company"). To the fullest extent permitted by law, in no circumstances will Lilium or its subsidiaries (collectively, the "Lilium Group") or any of their respective shareholders, affiliates, representatives, partners, directors, officers, employees, advisers or agents be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. Industry and market data used in this presentation have been obtained from third-party industry publications and sources, as well as from research reports prepared for other purposes that the Lilium Group believes are reasonable. The Lilium Group has not independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness, and this data is subject to change. Except as otherwise required by applicable law, the Lilium Group disclaims any duty to update the information contained in this presentation. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor does it relate to, any sale of securities.

Description of Key Partnerships

This presentation contains descriptions of some of Lilium's key business partnerships with whom Lilium has entered into feasibility studies, indications of interest, term sheets, memoranda of understanding or other preliminary arrangements. These descriptions are based on the Lilium management team's discussions and the latest available information and estimates as of the date of this presentation. In each case, these descriptions are subject to negotiation and execution of definitive agreements that may not have been completed as of the date of this presentation and, as a result, the nature, scope and content of these key business partnerships remain subject to change.

Financial Information

Some of the financial information and data contained in this presentation is unaudited and does not conform to Regulation S-X. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in the reports and other documents the Lilium Group may from time to time file with the SEC. You should review Lilium's audited financial statements in its filings with the SEC for a presentation of Lilium's historical IFRS financial information.

Trademarks

This presentation contains the trademarks, service marks, trade names and copyrights of the Lilium Group and other companies, which are the property of their respective owners.

Graphic Representations

Aircraft depicted in this presentation have been rendered utilizing computer graphics.

The information contained herein is made as of 11 June 2024, and does not reflect any subsequent events.

Lilium's five key differentiators

01

Unparalleled team of experienced aerospace professionals

• Experience designing, developing, certifying, and producing aircraft to the highest safety standard

02

An eVTOL for the regional mission, with the largest cabin size

03

Technology leadership through electric jet and battery IP

04

Building to highest aviation safety standard (EASA 10-9)

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Go-to-market strategy: first existing Premium Market (bizjets and helicopters), and then the larger Fleet market

• Focus on profitable OEM and Aftermarket business

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1. Advanced production of first Lilium Jets

• Successful aerostructures assembly - fuselage, wing, canard, landing gear, windows
• High-voltageelectrical harnesses successfully installed into wings and canards
• Fuselage of second Lilium Jet (MSN-2) delivered to Lilium in May

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2. Battery pack production started

• Designed to meet the highest safety requirements: shock resistance, heat resistance, containment, and redundancy
• Assembly at Lilium's battery facility, located at company headquarters outside Munich
• Production supported by suppliers with extensive experience in automotive battery industrialization

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3. Testing underway towards first flight and certification

• Commissioning underway of propulsion test facility
• Avionics system integration rig successfully running
• Final full body wind tunnel testing successfully completed
• Started construction of aircraft integration and certification test facility

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4. Lilium's growing order book

56 firm orders, 26 options, and ~700 aircraft under MoU

LUFTHANSA GROUP

Source: Company information and public press releases. Final
commercial terms of MoU agreements are still being negotiated and	P. 9
remain subject to definitive documentation. Firm orders consist of sales

agreements, production slot reservations, and options for production slot reservations, each with deposit payments.

5. Expanded the Lilium support network in key markets

• Luxaviation - expanded partnership to leverage ExecuJet network of 141 Fixed Based Operations
• Partnership with Aéroports de la Côte d'Azur and UrbanV, to establish vertiports at Nice, Cannes, Saint Tropez, and other French Riviera locations
• Collaboration with Atlantic Aviation to prepare North American airport sites for the Lilium Jet

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