Company: SRFM
Filing Date: 2025-05-13
Form Type: DEF 14A
Source: 0001140361-25-018647
Chunk: 34

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: DEF 14A
Chunk 34
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 Reverse Stock Split. The Board’s purpose in proposing the Reverse Stock Split at the Annual Meeting following the 1:7 reverse stock split that was effected in August 2024 is to mitigate risk and maintain operational flexibility in light of (1) the current stock price of the Company’s common stock, (2) the current market volatility and its impact of companies with similar market capitalizations, and (3) the potential impact of the recent amendments to the NYSE Listed Company Manual that do not allow companies that have effected a reverse stock split in the past year to use the six-month cure period to come back into compliance after failing to meet maintain an average closing stock price of $1.00 or more over a 30 trading-day period. Importantly, even if this Proposal 3 is approved by stockholders, the Board will continue to monitor circumstances and developments potentially impacting the Company’s stock price throughout the remainder of 2025, and in its sole discretion the Board may determine that implementing the Reverse Stock Split is unnecessary. The Reverse Stock Split, if effected, will reclassify and combine any whole number of issued shares, between and including 2 and 5 shares as determined by our Board in the manner described herein, into one share of common stock. As of April 28, 2025, 19,279,660 shares of our common stock were outstanding, and 0 shares of our common stock were held in treasury. Based on such

| Surf Air Mobility Inc. |     | 30 |     | 2025 Proxy Statement |

TABLE OF CONTENTS number of shares of our common stock outstanding and held in treasury immediately following the effectiveness of the Reverse Stock Split (and without giving any effect to the payment of cash in lieu of fractional shares), we will have, depending on the Reverse Stock Split ratio selected by our Board, outstanding and treasury shares of common stock as illustrated in the table under the caption “—Effects of the Reverse Stock Split.” All holders of common stock will be affected proportionately by the Reverse Stock Split. No fractional shares of common stock will be issued as a result of the Reverse Stock Split. Instead, any stockholder who would have been entitled to receive a fractional share as a result of the Reverse Stock Split will be entitled to receive a cash payment in lieu of such fractional share. Each stockholder will hold the same percentage of the outstanding common stock immediately following the Reverse Stock Split as that stockholder did immediately prior to the Reverse Stock Split, except to the extent that the Reverse Stock Split results in stock