EH EHang Holdings Ltd

EHang Holdings Limited (“EHang” or the “Company”) (Nasdaq: EH), the world’s leading urban air mobility (“UAM”) technology platform company, today announced the launch of the UAM Operation Demonstration Center (“UAM Center”) at OH Bay, a renowned landmark in Bao’an district, Shenzhen. Following the EHang’s strategic partnership with the Shenzhen Bao’an District Government in July, this significant milestone marks another big step forward towards the parties’ joint efforts for the launch of aerial sightseeing services for the next phase.

(Launch of UAM Operation Demonstration Center at OH Bay, Shenzhen)

This UAM Center was swiftly built within four-month period by Bao'an Transportation Group with the support from the Bao'an District Government. It covers a total area of approximately 4,600 square meters, hosting a comprehensive set of facilities including a bespoke eVTOL vertiport for EHang’s passenger-carrying pilotless eVTOL aircraft EH216-S, hangars, a command-and-control center, passenger waiting area, a service center, and various expended essential amenities.

(EH216-S took off from the vertiport at the UAM Center)

At today’s launch event for the UAM Center, EH216-S successfully completed its demo flight over OH Bay, which was witnessed by local government officials, regulators, enterprise representatives and citizens.

(EH216-S demo flight at the launch event for the UAM Center)

Meanwhile, Bao'an Transportation Group entered into a letter of intent on cooperation with EHang. Two parties will continue to work together to set up an operation demonstration model for passenger-carrying unmanned aerial vehicles and to build a low-altitude economy ecosystem in Shenzhen.

(EHang and Bao'an Transportation Group entered into a letter of intent on cooperation)

Furthermore, Shenzhen Boling Holding Group Co., Ltd., which has purchased 5 units of EH216-S from EHang and plans to purchase additional 95 units in the future, recently established a subsidiary Shenzhen Pengcheng Wings General Aviation Co., Ltd. (“Pengcheng Wings”), a joint venture with EHang. Pengcheng Wings will be involved in multi-party-cooperation on the low-altitude UAM operations as a flight service operator in Shenzhen.

(Boling-purchased EH216-S at the UAM Center for operations)

In recent years, Shenzhen has been at the forefront of implementing favorable policies for the development of the low-altitude economy, a strategic emerging industry in China. Efforts range from relaxing aerospace restrictions to providing infrastructure support and site operations for enterprises to conduct trial services. Multi-party joint efforts will be dedicated to systematically developing a benchmark for UAM operations, thereby facilitating the establishment of Shenzhen's low-altitude economy system framework.

A representative of Bao'an Transportation Group commented, following the launch of the China’s first UAM Center for passenger-carrying unmanned aerial vehicles, Bao'an Transportation Group will continue to cooperate with EHang to set up more UAM operation sites and flight routes for low-altitude aerial sightseeing and tourism services in Bao’an district. Besides, Bao'an Transportation Group will further establish the Low-Altitude Economy Industry Public Service Center, the Unmanned Aerial System Application Test Base, and the Low-Altitude Industrial Park in Bao’an district.

Mr. Guanshen Xu, Chairman of Pengcheng Wings, stated, "We are delighted to collaborate with industry-leading company EHang to jointly promote the commercial operation of low-altitude economy applications in Shenzhen. Starting from the UAM Operation Demonstration Center at OH Bay, we look forward to carrying out services with EH216-S and pioneering low-altitude operational demonstration cases that will extend to the entire Shenzhen region and even the Guangdong-Hong Kong-Macao Greater Bay Area."

Mr. Xin Fang, Chief Operating Officer of EHang, said, "We are thrilled that, with the support of the government, our customer and partner, our collaboration has led to significant progress in Bao’an, which includes the successful launch of the first UAM Operation Demonstration Center in Shenzhen. The UAM operations and services make up an elaborate system that requires comprehensive preparatory groundwork. Following the major milestones of obtaining the first-of-its-kind Type Certificate and Standard Airworthiness Certificate for EH216-S, establishing the UAM operation site and infrastructure is another key achievement. With our extensive experience in trial operations, EHang is poised to take the lead in developing operational benchmarks for UAM. This will further drive the growth of the low-altitude economy industry in Shenzhen as well as in the Greater Bay Area."

About Bao’an Transportation Group

Bao'an Transportation Group was established in September 2018 with the approval of the Bao'an District Government. It is positioned as a comprehensive urban transportation construction service provider. For more information, please visit www.bhlqjt.com.

About Pengcheng Wings

Shenzhen Pengcheng Wings General Aviation Co., Ltd. is a registered comprehensive low-altitude economy company based in Shenzhen. We are dedicated to providing comprehensive, multi-dimensional, and high-quality flight services utilizing the world-leading EH216-S passenger-carrying unmanned aerial vehicle. As a new urban air mobility and low-altitude business operation service provider, our main focus lies in the daily operational tasks of aircraft and landing sites. We cater for government entities, businesses, and individual customers, offering various low-altitude services. As active participants in Shenzhen's reform and innovation endeavors, we uphold the values of integrity, professionalism, and innovation. Continuously enhancing our core competitiveness, we strive to create greater value for our clients.

About EHang

EHang (Nasdaq: EH) is the world’s leading urban air mobility (“UAM”) technology platform company. Our mission is to enable safe, autonomous, and eco-friendly air mobility accessible to everyone. EHang provides customers in various industries with unmanned aerial vehicle (“UAV”) systems and solutions: air mobility (including passenger transportation and logistics), smart city management, and aerial media solutions. EHang has obtained the world’s first type certificate for unmanned eVTOL aircraft from the Civil Aviation Administration of China in 2023. As the forerunner of cutting-edge UAV technologies and commercial solutions in the global UAM industry, EHang continues to explore the boundaries of the sky to make flying technologies benefit our life in smart cities. For more information, please visit www.ehang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about management’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to those relating to certifications, our expectations regarding demand for, and market acceptance of, our products and solutions and the commercialization of UAM services, our relationships with strategic partners, and current litigation and potential litigation involving us. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause EHang’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

Media Contact: pr@ehang.com

Investor Contact: ir@ehang.com

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