Vertical Aerospace Announces Release of Shareholder Letter and Filing of Annual Report on Form 20-F

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, announces today that it has released its full year 2023 Annual Report, including its financial results, alongside its latest Shareholder Letter. Vertical’s Annual Report is accessible on the Company’s investor relations website and on the SEC’s website at www.sec.gov while the Shareholder Letter can be accessed here.

Commenting on the Annual Report, Stephen Fitzpatrick, founder and CEO of Vertical Aerospace commented:

"I have never been more confident in Vertical, in our team and our technology. We will soon be unveiling our next generation VX4 prototype, which comprises 70% new components compared to the previous one, including our more advanced propellers and proprietary battery technology.

This aircraft will be faster and quieter than our first prototype, and is a big step forwards towards certification. 2024 is a defining year for the eVTOL industry, and I look forward to sharing our continued progress, and showing you the piloted VX4 in action.”

The latest Shareholder letter outlines Vertical’s progress in 2023, including:

• Vertical is one of only a few eVTOL developers to have built and flown a full-scale vectored-thrust electric aircraft.
• The only eVTOL developer to have active certification efforts with five regulators.
• Secured the first ever Design Organisation Approval (DOA) issued by the CAA to a listed eVTOL manufacturer.
• Opened a multi-million-pound state-of-the-art battery facility in Bristol, UK.
• Grew order book to over $6 billion.

Vertical will provide a hard copy of the Annual Report containing its audited consolidated financial statements, free of charge, to its shareholders upon request. Requests should be directed in writing by email to [e-mail], or by post to Vertical Aerospace Ltd., Unit 1 Camwal Court, Chapel Street, Bristol BS2 0UW, United Kingdom.

About Vertical Aerospace

Vertical Aerospace (NYSE: EVTL) is pioneering electric aviation. The Company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the OVO Group, a leading energy and technology group and Europe’s largest independent energy retailer. Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have previously certified and supported over 30 different civil and military aircraft and propulsion systems. Vertical received its Design Organisation Approval in 2023 underlining the UK Civil Aviation Authority’s confidence in Vertical’s capability to design a safe and reliable aircraft and aviation-related products to the highest standards.