SANTA CLARA - Archer Aviation Inc. ('Archer' or the 'Company') (NYSE: ACHR) today announced operating and financial results for the first quarter ended March 31, 2024.

The Company issued a shareholder letter discussing those results, as well as its second quarter 2024 estimates. The shareholder letter may be accessed on the Company's investor relations website here.

Commenting on first quarter 2024 results, Adam Goldstein, Archer's CEO said:

'The electrification of aviation continues to increasingly emerge into the mainstream every day. From the outset, we've been clear that our strategy is to keep the design of our first electric aircraft, Midnight, as simple as possible while delivering industry-leading performance balanced with safety. We are accomplishing this by partnering with what we believe to be the best suppliers in the aerospace industry, rather than take on the cost and risk of vertically integrating every aspect of a novel aircraft program. This capital-light strategy continues to pay dividends that are more clear today than ever, as we continue to make rapid progress towards commercializing electric aviation.'

Here is a behind-the-scenes first look tour of our Integrated Test Lab and Manufacturing Facility where these aircraft are being built.

Archer will be conducting its earnings conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) today. You can access a live webcast on our investor relations website at investors.archer.com or the conference call by dialing 404-975-4839 (domestic) or +1 833-470-1428 (international) and entering the access code 781391.

A replay of the webcast will be available on our investor relations website. In addition, a telephonic replay of the conference call will be accessible for one week following the call by dialing 866-813-9403 (domestic) or +44 204-525-0658 (international), and entering the access code 792154.

About Archer

Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility networks. Archer's mission is to unlock the skies, freeing everyone to reimagine how they move and spend time. Archer's team is based in Santa Clara, CA.

Forward-Looking Statements

This press release contains forward-looking statements regarding Archer's future business plans and expectations, including statements regarding our expected financial results for the second quarter of 2024, our business strategy and plans, aircraft performance, the pace at which we intend to design, develop, certify, conduct test flights, manufacture and commercialize our planned eVTOL aircraft, business opportunities, government incentives and expansion of Archer's business internationally. In addition, this press release refers to a framework agreement that is conditioned on the future execution by the parties of additional binding definitive agreements incorporating the terms outlined in the framework agreement, which definitive agreements may not be completed or may contain different terms than those set forth in the framework agreement. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors. The risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our filings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, which are or will be available on our investor relations website at investors.archer.com and on the SEC website at www.sec.gov. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. We undertake no obligation to update these statements as a result of new information or future events.

Contact:

Email: investors@archer.com

The Brand Amp

Email: Archer@TheBrandAmp.com

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