• Philippe Balducchi is the Chief Financial Officer (CFO) of KNDS, a major European defense company.
  • His previous roles include Chief Executive Officer (CEO) of Airbus Canada, Head of Bombardier C-Series/A220 integration, and CFO of Airbus North America.
  • Balducchi’s appointment is scheduled for the Extraordinary General Meeting (EGM) on September 18, 2024.

MUNICH, Sept. 12, 2024 — Lilium N.V. (Nasdaq: LILM), a leader in electric aircraft manufacturing and pioneer in Regional Air Mobility (RAM), announced today changes to its Board of Directors, pending approval at the upcoming EGM on Wednesday, September 18, 2024. The company plans to appoint Philippe Balducchi as a non-executive member of the Board, while Barry Engle and Henri Courpron, who have served as non-executive directors, will not seek re-appointment after their terms end.

Philippe Balducchi currently holds the position of Group CFO at KNDS, a leading European defense technology provider with production facilities in France and Germany and global industrial partnerships.

Balducchi brings extensive aerospace program experience, having held numerous senior management roles during a 20-year career at Airbus and its predecessors. As CEO of Airbus Canada, he oversaw the production ramp-up of the successful Bombardier C-Series, its rebranding as the Airbus A220, and the establishment of a new final assembly line in Alabama. Balducchi is an aviation engineer with an MBA from HEC Paris Business School.

Tom Enders, Chairman of Lilium, commented on the proposal to the EGM: “Philippe’s strategic insights, his financial expertise, and his experience in managing large-scale operations in the aerospace and defense sector make him a valuable addition to Lilium’s board.”

Philippe Balducchi stated: “I am delighted to be proposed to join Lilium at such an exciting stage in its journey. The company’s vision for electric air mobility is not only innovative but also transformative for the industry. I look forward to contributing to Lilium’s continued success and collaborating with the talented team and board members to advance our shared goals.”

Barry Engle and Henri Courpron have both played a significant role in shaping Lilium’s trajectory, assisting the company in transitioning from a startup to a mature aerospace company.

Barry Engle has been a member of Lilium’s Board since September 2021. He was instrumental in securing Lilium’s NASDAQ listing through a de-SPAC procedure. Since joining the Board, Barry Engle has chaired the Audit Committee. He has now taken on an executive role that prevents him from serving on a board in Europe.

Tom Enders, the Lilium Chairman, remarked: “Barry and Henri have made outstanding contributions to Lilium. Serving on a Board across the Atlantic comes with additional challenges and sacrifices. We are truly grateful for their service and wish them well in their future endeavors.”

Contact information for media:

Rainer Ohler

+49 172 489 0353

Contact information for investors:

Rama Bondada

Vice President, Investor Relations

About Lilium

Lilium (NASDAQ: LILM) is creating a sustainable and accessible form of high-speed, regional transportation for people and goods. Through the Lilium Jet, an all-electric vertical take-off and landing jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology, and infrastructure leaders, and with announced sales and indications of interest in Europe, the United States, China, Brazil, the UK, the United Arab Emirates, and the Kingdom of Saudi Arabia, Lilium’s 1,000+ strong team includes approximately 500 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S. To learn more, visit www.lilium.com.

Lilium Forward Looking Statements:

This communication contains certain forward-looking statements within the meaning of the U.S. federal securities laws, including the statements relating to the composition of Lilium N.V.’s Board of Directors. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “may,” “on track,” “plan,” “project,” “should,” “strategy,” “will,” “would” and similar expressions. 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 and are subject to risk and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this communication include those risks and uncertainties discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, on file with the SEC, the Report on Form 6-K filed on July 17, 2024 and similarly titled sections in Lilium’s other SEC filings, all of which are available at . 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 Lilium 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.