Stellantis, Archer Move Partnership from ‘Concept Phase’ to ‘Execution Phase’

- Construction is well underway on the world’s first high-volume eVTOL aircraft manufacturing facility in Covington, Georgia, USA

- Experienced Stellantis personnel are providing expertise alongside Archer teams to prepare efficient, innovative manufacturing operations

- Stellantis recently increased its strategic shareholding in Archer through a series of purchases of Archer stock in the open market

- Archer’s Midnight aircraft currently featured at the Paris Air Show

PARIS AIR SHOW, LE BOURGET, FRANCE - Archer Aviation Inc.(NYSE: ACHR) and Stellantis N.V. today announced progress in their strategic manufacturing partnership at the 2023 Paris Air Show. With construction now well underway on the world’s first high-volume eVTOL aircraft manufacturing facility located on an approximately 100-acre campus in Covington, Georgia, Stellantis recently increased its strategic shareholding through a series of purchases of Archer stock in the open market.

Rendering of world’s first high-volume eVTOL aircraft manufacturing facility located in Covington, Georgia

The Stellantis and Archer teams are moving full speed ahead in execution mode to ensure we meet our goal of bringing scalable manufacturing of Archer’s aircraft online in mid-2024,” said Stellantis CEO Carlos Tavares. “We believe this unique partnership is setting the standard for cross-industry collaboration and continues to be a key pillar of our strategy to ensure Stellantis leads the way the world moves, providing freedom of mobility in all ways. With our trusted teams onsite working shoulder-to-shoulder with Archer, I have no doubt that we are on the right path.

At Archer, our goal is not just to get to commercialization, but to achieve it at scale. High-volume manufacturing is critical to ensuring we can meet this goal and joining forces with one of the leading mobility companies in the world is helping us realize the once-in-a-generation opportunity we have to redefine urban transportation,” said Archer’s founder and CEO, Adam Goldstein. “I couldn’t be prouder of what we’ve already accomplished with this partnership as we continue to lead the industry in building out manufacturing capabilities.

During the manufacturing ramp-up phase, the goal is to leverage each company’s respective strengths to enable the rapid scaling of aircraft production to meet Archer’s commercialization plans. As the two companies rapidly progress towards bringing this facility online in mid-2024, there are now experienced Stellantis personnel working full time alongside the Archer team, supporting operational readiness with the current focus being on manufacturing automation and component sourcing. Stellantis personnel are now embedded across almost all areas of Archer’s operations, including manufacturing, engineering, supply chain, quality, facilities and human resources.

Initial manufacturing operations will be capable of producing up to 650 aircraft per year with room for expansion to support production of up to 2,300 aircraft per year. Manufacturing aircraft at these volumes would make this site the world’s leading aircraft manufacturing facility by volume.

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.

To learn more, visit www.archer.com.

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates.

For more information, visit www.stellantis.com.

ARCHER FORWARD LOOKING STATEMENTS

This press release contains forward looking statements regarding Archer’s future business plans, including statements regarding the timing of Archer’s development, commercialization, and certification of its eVTOL aircraft. 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 Archer’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, available at www.sec.gov. In addition, please note that any forward looking statements contained herein are based on assumptions that Archer believes to be reasonable as of the date of this press release. Archer undertakes no obligation to update these statements as a result of new information or future events.

STELLANTIS FORWARD-LOOKING STATEMENTS

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