SURF AIR MOBILITY INC.

Surf Air Mobility Inc. filed a prospectus supplement to register the issuance of 4,761,905 shares of its common stock. These shares were provided to Palantir Technologies Inc. as consideration for license fees and related professional services under an existing software license agreement. Additionally, the company filed a Current Report on Form 8-K to include a legal opinion from its counsel, Gibson, Dunn & Crutcher LLP, which is incorporated by reference into the registration statement.

Surf Air Mobility Inc. announced that its subsidiary, Surf Air Technologies Inc., signed a Master Subscription Agreement (MSA) with Wheels Up Experience Inc. Wheels Up will serve as the launch customer for Surf Air's Enterprise BrokerOS software, which is powered by Palantir. The agreement provides for an initial two-year term with a fee of $8.0 million, plus an optional one-year extension for an additional $4.2 million, totaling up to $12 million in subscription fees. This partnership is expected to transform Wheels Up's charter workflow and enhance operational efficiency.

Surf Air Mobility Inc. has filed its definitive proxy statement for the Annual Meeting of Stockholders scheduled for July 24, 2026. The meeting will be held virtually, and stockholders will vote on the election of two Class C directors, the ratification of PricewaterhouseCoopers LLP as the independent auditor, and a proposed reverse stock split with a ratio between 2:1 and 6:1. The Board has also announced changes in leadership, with Shawn Pelsinger set to become Chairman of the Board following the meeting.

Surf Air Mobility Inc. announced that Carl Albert, the current Chairman of the Board, will not seek re-election at the upcoming 2026 Annual Meeting of Shareholders on July 24, 2026. Mr. Albert will transition to the role of Chairman Emeritus and serve as an advisor to the Board under an Advisory Services Agreement. Concurrently, Shawn Pelsinger has been elected as the successor Chairman, effective as of the Annual Meeting. Mr. Albert's decision was not due to any disagreement with the company.

Surf Air Mobility reported a net loss of $20.3 million for Q1 2026, an increase from $18.5 million in Q1 2025, despite a slight revenue increase to $25.6 million. The company faces significant liquidity challenges, including a working capital deficit and negative cash flows from operations. Management expressed substantial doubt about the company's ability to continue as a going concern, citing defaults on excise and property taxes, and certain debt obligations. The company is pursuing additional financing, including drawing $12 million from a Share Purchase Agreement with GEM during the quarter.

Surf Air Mobility Inc. reported strong first-quarter 2026 financial results, with total revenue of $25.6 million, meeting the high end of its guidance. The company significantly outperformed its Adjusted EBITDA guidance, reporting a loss of $12.3 million. This performance led to an approximately 40% improvement in its annual 2026 Adjusted EBITDA guidance, while maintaining its full-year revenue outlook. Operational highlights included record revenue for the Surf On Demand private charter business and accelerated SurfOS development.

Surf Air Mobility Inc. filed an amendment to its 10-K to include previously omitted Part III information, detailing executive compensation and corporate governance. For 2025, CEO Deanna White's total compensation was $2.93M and CFO Oliver Reeves' was $1.69M, though both saw their base salaries reduced to $550,000. The company met its adjusted EBITDA target for 2025 performance-based equity awards, but one director's Section 16(a) report was filed late.

SURF AIR MOBILITY INC.'s subsidiaries, Southern Airways Express, LLC and Southern Airways Pacific, LLC, have secured a Promissory Note from LamVen LLC for up to $15 million. This financing allows for advances of up to $5 million per 90-day period, with the total not exceeding the maximum principal amount. An origination fee of $1.5 million is associated with the note, payable in cash or company common stock valued at $1.274 per share.

Surf Air Mobility Inc. has entered into a Securities Purchase Agreement dated April 20, 2026, with various purchasers. Under this agreement, the company intends to issue and sell its securities, including Common Stock and Common Stock Equivalents, to these purchasers. The transaction is structured to occur pursuant to an effective registration statement under the Securities Act of 1933. This agreement outlines the terms and conditions for the sale and purchase of these securities.