VIC Properties (“VIC”), the Portuguese developer behind some of Portugal’s most ambitious luxury residential and resort destinations, and Vertical Aerospace (“Vertical” or the “Company”) (NYSE: EVTL), a global aerospace and technology company that is pioneering electric aviation, have signed a Memorandum of Understanding (“MoU”) to explore the future introduction of electric air mobility services in Portugal, with an initial focus on Pinheirinho, the 400-hectare estate located in Comporta, which includes Six Senses Comporta.

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From left to right: João Cabaça, Co-founder and Chief Executive Officer, VIC Properties, and Stuart Simpson, CEO, Vertical Aerospace.

From left to right: João Cabaça, Co-founder and Chief Executive Officer, VIC Properties, and Stuart Simpson, CEO, Vertical Aerospace.

Electric vehicle infrastructure has become a baseline expectation across ambitious residential and hospitality developments. This partnership explores what comes next: how electric air mobility can extend that same thinking to how people can travel across Europe’s most desirable regions, while reducing environmental impact without compromising on convenience, speed and safety.

“The most exceptional destinations deserve an equally exceptional way to arrive,” said Stuart Simpson, CEO, Vertical Aerospace. “Vertical is creating a safer, cleaner, and quieter way to travel that is quicker, simpler and more enjoyable. This partnership is about understanding how a new category of air travel can integrate into the future of resort living and luxury hospitality.”

Under the MoU, VIC Properties will work with Vertical and its infrastructure and operating partners to assess Pinheirinho as Portugal’s first electric air mobility resort destination, including site and infrastructure planning.

Located on Portugal’s Atlantic coast, the Pinheirinho estate is one of Europe’s most anticipated developments, anchored by two ultra-luxury hotels, including Six Senses Comporta. Its scale and proximity to Lisbon make it a natural test case for how advanced air mobility could connect major hubs with the world’s most sought-after destinations.

This MoU reflects a broader shift already underway in ambitious real estate developments: moving beyond electric vehicle charging as the default sustainability marker, toward a fuller rethink of how residents and guests reach the places they call home. It follows Vertical’s partnership with Héli Air Monaco to explore future Valo operations across the French Riviera, connecting destinations including Monaco, Nice, Cannes and Saint-Tropez. Additional VIC destinations may also be considered as the partnership develops.

“Pinheirinho is being developed around a long-term vision – to create a new benchmark for luxury hospitality and residential living on Portugal’s Atlantic coast. A partnership with Vertical, a recognised pioneer in this emerging sector, is a natural extension of that ambition, as we truly believe that air mobility will shape the experience, the reach and connectivity of next-generation destinations such as Pinheirinho Comporta,” said João Cabaça, Co-founder and Chief Executive Officer, VIC Properties.

About Vertical Aerospace

Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner, and quieter way to travel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.

Vertical combines partnerships with leading aerospace companies, including Honeywell, Syensqo and Sonaca, with its own proprietary battery and propeller technology to develop the world’s most advanced and safest eVTOL.

Vertical has c.1,500 pre-orders of Valo, with customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, UK, Vertical’s experienced leadership team comes from top-tier aerospace and automotive companies such as Rolls-Royce, Airbus, GM, and Leonardo. Together, they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.

About VIC Properties

VIC Properties is one of Portugal’s leading real estate developers, specialising in large-scale masterplanning, development and regeneration of residential and hospitality-led mixed-use communities. Established in 2018 and with over €3 billion of assets under management, VIC Properties is a fully integrated real estate platform with an extensive in-house local development expertise.

About Pinheirinho Comporta

Pinheirinho Comporta, developed by VIC Properties, is a 400-hectare estate spanning pine forest, lakes and undulating dunes that open directly onto 65 kilometres of Atlantic coastline. As one of Southern Europe’s most anticipated destinations of the decade, the estate will be anchored by Six Senses Comporta designed by Michaelis Boyd, a 70-key hotel, and 58 private residences, alongside private villas, apartments and an 18-hole golf course designed by Jorge Santana Da Silva. Across the estate, the destination will offer restaurants, a luxury retail village and a programme of outdoor, family and nature-led activities. Less than five percent of the land will ever be developed; the rest will remain as a protected natural estate.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the Memorandum of Understanding with VIC Properties to explore the future introduction of electric air mobility services in Portugal, including projected routes and serviced regions; the design and manufacture of our aircraft, certification and the commercialization of our aircraft and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the features and capabilities of the aircraft, selection of suppliers, expectations surrounding pre-orders and commitments; as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2026, as such factors may be updated from time to time in the Company’s other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

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