PRESS RELEASESkyDrive Inc.

SkyDrive Raises Approximately 8 Billion Yen in Total in Additional Series C Funding
to Accelerate its eVTOL Development and Manufacturing

TOYOTA, Japan, August 27, 2024 - SkyDrive Inc. (“SkyDrive”), a leading eVTOL (*1) aircraft
manufacturer based in Japan, today announced the completion of another additional Series C funding
round, secured through a third-party allocation of new shares to four organizations. With this latest
investment, the company has raised a total of eight billion yen across three additional Series C funding
rounds.

Investors in this additional Series C funding●Inventum Ventures●

Osaka Metro Co., Ltd.

●Energy & Environment Investment, Inc. (Investment following Series A and Series B）●Mizuho Bank, Ltd.

Previous press releases on additional funding in Series C
January 2024: https://en.skydrive2020.com/archives/11715
April 2023: https://en.skydrive2020.com/archives/9095

Background and objectives of the funding
SkyDrive was established in July 2018 with the mission of “taking the lead in the once-in-a-century
mobility revolution” and its vision is to create a future where everyone uses eVTOLs as their dailytransportation in Japan and across the world.
Type certificate is one of the essential approvals for the eVTOL social implementation. Japan Civil
Aviation Bureau (JCAB) had accepted an application for type certification of SkyDrive’s eVTOL“SKYDRIVE” (*3) in 2021 and in 2022 JCAB and SkyDrive agreed on the certification basis. SkyDriveis currently in the process of certification activities in parallel with development, with the aim ofagreeing on the certification plan. After the certification plan is agreed, SkyDrive will conduct groundtests and flight tests to verify that they meet the required standards and performance criteria.
With this investment, SkyDrive plans to upgrade both facilities and organization for ground and flighttesting to accelerate its development and certification activities. Additionally, the company will expandand strengthen its quality assurance and other key departments to support the transition to mass
production, ensuring that its aircraft meet the standards of quality and reliability.
SkyDrive has received a total of 263 pre-orders for its eVTOL from Japan, the United States, South
Korea and Vietnam. SkyDrive will also develop a digital platform that will enable it to consistently
manage aircraft data throughout the entire lifecycle—from design and manufacturing to post-delivery.
This platform will allow the company to monitor the condition of the aircraft even after the aircraft has
been delivered to the customer.
Comments from Tomohiro Fukuzawa, CEO of SkyDrive Inc.
“Since the Series C funding in September 2022, we have been able to make great progress in thedevelopment of our eVTOL aircraft with many top-class engineers from around the world joining ourteam. With the cooperation of Suzuki Motor Corporation, a shareholder and strong production partner,
we announced the start of production of ‘SKYDRIVE’ at Suzuki Group's manufacturing plant in March2024. In terms of business development, we are also working with Suzuki to develop the market inIndia and have concluded a strategic partnership with the government of Gujarat. In the United States,
we established SkyDrive America, Inc. in September 2023, and are currently developing practical use
cases originating from regional airports in South Carolina, Georgia, and other states. We are gratefulto our investors and business partners for their positive evaluation of our progress and their strong
support. We will keep doing our best to advance our eVTOL and business development to meet
everyone's expectations.”About SkyDrive Inc.
SkyDrive was formally established in July 2018 after testing flying car concepts and prototypes from2014 with the mission of “taking the lead in the once-in-a-century mobility revolution.” Its vision is tocreate a future where everyone has access to eVTOLs as their daily transportation in Japan and acrossthe world. The company succeeded in the first crewed eVTOL flight test in Japan in 2019 and its
eVTOL “SKYDRIVE” is in the process of acquiring its Japan Civil Aviation Bureau and Federal Aviation
Administration certifications. SkyDrive has been selected as a company to participate in the Advanced
Air Mobility project at Expo 2025 Osaka, Kansai, Japan. SkyDrive began production of “SKYDRIVE” inMarch 2024 at the plant owned by official production partner Suzuki Motor Corporation. SkyDrive isheadquartered in Toyota, Aichi Prefecture. Tomohiro Fukuzawa is the CEO of the company.
For more information, please visit: https://en.skydrive2020.com/

Editor’s Note:(*1) “eVTOL” is an abbreviation for electric vertical takeoff and landing. eVTOL aircraft are characterized by electrification, a fullyautonomous autopilot, and vertical takeoff and landing. It is also called Advanced Air Mobility (AAM) or Urban Air Mobility (UAM).
(*2) Related press release: https://en.skydrive2020.com/archives/7416(*3) “SKYDRIVE” is a product name of SkyDrive Model SD-05.

Contact:Risa Oishi
Public Relations
SkyDrive Inc.
Email: info@skydrive.co.jp