Joby Aviation Analyst Day rd June 3 , 2021 1 1 | | Jo Job by y A Av viia at tiio on nJoby Aviation Analyst Day rd June 3 , 2021 1 1 | | Jo Job by y A Av viia at tiio on n

Legal Disclaimer This presentation(this “Presentation”) was prepared by Reinvent Technology Partners (“RTP”) andJoby Aero, Inc. (“Joby”) in connection withtheir proposed business combination. By acceptingthis Presentation, youagreeto usethis Presentation for thesole purpose of evaluatingthe potential transaction. Any reproductionordistributionofthisPresentation,inwholeorinpart,orthedisclosureofitscontents,withoutthepriorconsentofRTPandJobyisprohibited.ThisPresentationisforinformationaldiscussionpurposesonlyanddoesnotconstituteanoffertopurchasenorasolicitationofanoffertosellsharesofJoby,RTP oranysuccessorentity,nordoesitconstitutethesolicitationofanoffertobuyanysecurities.Thiscommunicationisrestrictedbylaw;itisnotintendedfordistributionto,orusebyanypersonin,anyjurisdictionwheresuchdistributionorusewouldbecontrarytolocallaworregulation. NoRepresentationsandWarranties ThisPresentationisnotintendedtoformthebasisofanyinvestmentdecisionbyyouanddoesnotconstituteinvestment,taxorlegaladvice.Norepresentationorwarranty,expressorimplied,isorwillbegivenbyRTPorJobyoranyofitsrespectiveaffiliates,directors,officers,employeesoradvisersoranyotherperson astotheaccuracyorcompletenessoftheinformationinthisPresentationoranyotherwritten, oralorothercommunicationstransmittedorotherwisemadeavailabletoanypartyinthecourseofitsevaluationoftheproposedtransactionandnoresponsibilityorliabilitywhatsoeverisacceptedfortheaccuracyor sufficiencythereoforforanyerrors,omissionsormisstatements,negligentorotherwise,relatingthereto.YoualsoacknowledgeandagreethattheinformationcontainedinthisPresentationispreliminaryinnatureandissubjecttochange,andanysuchchangesmaybematerial.RTPandJobydisclaimanydutyto updatetheinformationcontainedinthisPresentation. ForwardLookingStatements This document contains certain forward-looking statements within the meaning of the federal securities laws with respect tothe proposed transaction between RTPand Joby. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,”“future,”“opportunity,”“plan,”“may,”“should,”“will,”“would,”“willbe,”“willcontinue,”“willlikelyresult,”andsimilarexpressions. Forward-lookingstatementsarepredictions, projectionsandotherstatementsaboutfutureeventsthatarebasedoncurrentexpectationsandassumptionsand, asaresult, are subjecttorisksanduncertainties. Manyfactorscouldcauseactualfutureeventstodiffer materiallyfromtheforward-lookingstatementsinthisdocument, includingbutnotlimitedto: (i)theriskthatthetransactionmaynot becompletedinatimelymanneroratall, whichmayadverselyaffectthepriceofRTP’s securities,(ii)theriskthatthetransactionmaynotbecompletedbyRTP’sbusinesscombinationdeadlineandthepotentialfailuretoobtainanextensionofthebusinesscombinationdeadlineifsoughtbyRTP,(iii)thefailuretosatisfytheconditionstotheconsummationofthetransaction,includingtheadoptionof the Agreement and Plan of Merger, dated as of February 23, 2021 (the “Merger Agreement”), by and among RTP, Joby and RTP Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of RTP, by the shareholders of RTP, the satisfaction of the minimumtrust account amount following redemptionsbyRTP’spublicshareholdersandthereceiptofcertaingovernmentalandregulatoryapprovals,(iv)thelackofathirdpartyvaluationindeterminingwhetherornottopursuethetransaction,(v)theinabilitytocompletethePIPEinvestmentinconnectionwiththetransaction,(vi)theoccurrenceofany event, changeorothercircumstancethat couldgiverisetotheterminationoftheMergerAgreement, (vii)theeffect oftheannouncement orpendencyofthetransactiononJoby’sbusinessrelationships, operatingresultsandbusinessgenerally, (viii)risksthattheproposedtransactiondisruptscurrent plansand operations of Jobyandpotential difficultiesinJobyemployeeretentionasaresult ofthetransaction, (ix) theoutcomeof anylegal proceedings or other disputesthat maybeinstitutedagainst Joby or against RTPrelatedtothe Merger Agreement orthetransaction, (x) theabilityto maintainthelistingof RTP’s securitiesonanationalsecuritiesexchange,(xi)thepotentialvolatilityofRTP’ssecurities,whichmayresultfromavarietyoffactors,includingchangesinthecompetitiveandhighlyregulatedindustriesinwhichRTPplanstooperateorJobyoperates,variationsinoperatingperformanceacrosscompetitors,changesin lawsandregulationsaffectingRTP’sorJoby’sbusinessandchangesinthecombinedcapitalstructure,(xii)theabilitytoimplementbusinessplans,forecasts,andotherexpectationsafterthecompletionofthetransaction,andidentifyandrealizeadditionalopportunities,and(xiii)theriskofdownturnsandachanging regulatorylandscapeinthehighlycompetitiveaviationindustry.Theforegoinglistoffactorsisnotexhaustive.Youshouldcarefullyconsidertheforegoingfactorsandtheotherrisksanduncertaintiesdescribedinthe“RiskFactors”sectionofRTP’sAnnualReportonForm10-KfortheyearendedDecember31,2020,as amended,theregistrationstatement onFormS-4(333-254988)discussedbelowandotherdocumentsfiledbyRTPfromtimetotimewiththeSEC. Thesefilingsidentifyandaddressotherimportantrisksanduncertaintiesthat couldcauseactualeventsandresultstodiffermateriallyfromthosecontainedinthe forward-lookingstatements.Forward-lookingstatementsspeakonlyasofthedatetheyaremade.Readersarecautionednottoputunduerelianceonforward-lookingstatements,andRTPandJobyassumenoobligationanddonotintendtoupdateorrevisetheseforward-lookingstatements,whetherasaresultof newinformation,futureevents,orotherwise.NeitherRTPnorJobygivesanyassurancethateitherRTPorJobyorthecombinedcompanywillachieveitsexpectations. Trademarks Allrightstothetrademarks,copyrights,logosandotherintellectualpropertylistedhereinbelongtotheirrespectiveownersandthisPresentation’susethereofdoesnotimplyanaffiliationwith,orendorsementbytheownersofsuchtrademarks,copyrights,logosandotherintellectualproperty.Solelyforconvenience, trademarksandtradenamesreferredtointhisPresentationmayappearwiththe®or™symbols,butsuchreferencesarenotintendedtoindicate,inanyway,thatsuchnamesandlogosaretrademarksorregisteredtrademarksofRTPorJoby. IndustryandMarketData ThisPresentationcontainsstatisticaldata,estimatesandforecastsprovidedbyJobyand/orarebasedonindependentindustrypublicationsorotherpubliclyavailableinformation,aswellasotherinformationbasedonJoby’sinternalsources.Thisinformationinvolvesmanyassumptionsandlimitationsandyouare cautionednottogiveundueweighttotheseestimates. WehavenotindependentlyverifiedtheaccuracyorcompletenessofthedatathathasbeenprovidedbyJobyand/orcontainedintheseindustrypublicationsandotherpubliclyavailableinformation.Accordingly,neitherRTPnorJobynoranyoftheiraffiliates andadvisorsmakesanyrepresentationsastotheaccuracyorcompletenessofthesedata. FinancialInformationandNon-GAAPMeasures ThisPresentationcontainscertainestimatedpreliminaryfinancialresultsandkeyoperatingmetrics.Thisinformationispreliminaryandsubjecttochange.Assuch,theactualresultsmaydifferfromtheestimatedpreliminaryresultspresentedhere.ThisPresentationincludesnon-GAAPfinancialmeasures.Thesenon- GAAP measures arean addition, and not a substitutefor or superior to, measures of financial performance preparedin accordance with GAAPand should not be considered as an alternativetoany performance measures derivedin accordance with GAAP. Other companies may calculate non-GAAP measures differently,ormayuseothermeasurestocalculatetheirfinancialperformance,andtherefore,Joby’snon-GAAPmeasuresmaynotbedirectlycomparabletosimilarlytitledmeasuresofothercompaniesortransactions.Additionally,totheextentthatforward-lookingnon-GAAPfinancialmeasuresareprovided,they arepresentedonanon-GAAPbasiswithoutreconciliationsofsuchforward-lookingnon-GAAPmeasuresduetotheinherentdifficultyinforecastingandquantifyingcertainamountsthatarenecessaryforsuchreconciliations. UseofProjections ThisPresentationalsocontainscertainfinancialforecasts. Theseprojectionsareforillustrativepurposesonlyandshouldnotberelieduponasbeingnecessarilyindicativeoffutureresults. Theassumptionsandestimatesunderlyingtheprospectivefinancialinformationareinherentlyuncertainandaresubjecttoa widevarietyofsignificantbusiness,economicandcompetitiverisksanduncertaintiesthatcouldcauseactualresultstodiffermateriallyfromthosecontainedintheprospectivefinancialinformation.ProjectionsareinherentlyuncertainduetoanumberoffactorsoutsideofRTP’sandJoby’scontrol. Whileallfinancial projections,estimatesandtargetsarenecessarilyspeculative,RTPandJobybelievethepreparationofprospectivefinancialinformationinvolvesincreasinglyhigherlevelsofuncertaintythefurtherouttheprojection,estimateortargetextendsfromthedateofpreparation.Accordingly,therecanbenoassurancethat theprospectiveresultsareindicativeoffutureperformanceofRTP,Jobyorthecombinedcompanyaftertheproposedtransactionorthatactualresultswillnotdiffermateriallyfromthosepresentedintheprospectivefinancialinformation.InclusionoftheprospectivefinancialinformationinthisPresentationshould notberegardedasarepresentationbyanypersonthattheresultscontainedintheprospectivefinancialinformationwillbeachieved. ImportantInformationforInvestorsandStockholders ThisdocumentrelatestoaproposedtransactionbetweenRTPandJoby.Inconnectionwiththeproposedtransaction, RTPhasfiledaregistrationstatement onFormS-4(333-254988), whichincludesapreliminaryprospectusandproxystatement ofRTP, referredtoasaproxystatement/prospectus.Afinalproxy statement/prospectuswillbesenttoallRTPshareholders.RTPalsowillfileotherdocumentsregardingtheproposedtransactionwiththeSEC.Beforemakinganyvotingdecision,investorsandsecurityholdersofRTPareurgedtoreadtheregistrationstatement,theproxystatement/prospectusandallotherrelevant documentsfiledorthatwillbefiledwiththeSECinconnectionwiththeproposedtransactionastheybecomeavailablebecausetheywillcontainimportantinformationabouttheproposedtransaction. Investorsandsecurityholderswillbeabletoobtainfreecopiesoftheregistrationstatement,theproxystatement/prospectusandallotherrelevantdocumentsfiledorthatwillbefiledwiththeSECbyRTPthroughthewebsitemaintainedbytheSECatwww.sec.gov. ThedocumentsfiledbyRTPwiththeSECalsomaybeobtainedfreeofchargeatRTP’swebsiteathttps://www.reinventtechnologypartners.comoruponwrittenrequestto215ParkAvenue,Floor11NewYork,NY. ParticipantsintheSolicitation RTPandJobyandtheirrespectivedirectorsandexecutiveofficers maybedeemedtobeparticipantsinthesolicitationofproxiesfromRTP’sshareholdersinconnectionwiththeproposedtransaction.Alist ofthenamesofthedirectorsandexecutiveofficersofRTPandinformationregardingtheirinterestsinthe businesscombinationwillbecontainedintheproxystatement/prospectuswhenavailable.Youmayobtainfreecopiesofthesedocumentsasdescribedintheprecedingparagraph. 2 | Joby AviationLegal Disclaimer This presentation(this “Presentation”) was prepared by Reinvent Technology Partners (“RTP”) andJoby Aero, Inc. (“Joby”) in connection withtheir proposed business combination. By acceptingthis Presentation, youagreeto usethis Presentation for thesole purpose of evaluatingthe potential transaction. Any reproductionordistributionofthisPresentation,inwholeorinpart,orthedisclosureofitscontents,withoutthepriorconsentofRTPandJobyisprohibited.ThisPresentationisforinformationaldiscussionpurposesonlyanddoesnotconstituteanoffertopurchasenorasolicitationofanoffertosellsharesofJoby,RTP oranysuccessorentity,nordoesitconstitutethesolicitationofanoffertobuyanysecurities.Thiscommunicationisrestrictedbylaw;itisnotintendedfordistributionto,orusebyanypersonin,anyjurisdictionwheresuchdistributionorusewouldbecontrarytolocallaworregulation. NoRepresentationsandWarranties ThisPresentationisnotintendedtoformthebasisofanyinvestmentdecisionbyyouanddoesnotconstituteinvestment,taxorlegaladvice.Norepresentationorwarranty,expressorimplied,isorwillbegivenbyRTPorJobyoranyofitsrespectiveaffiliates,directors,officers,employeesoradvisersoranyotherperson astotheaccuracyorcompletenessoftheinformationinthisPresentationoranyotherwritten, oralorothercommunicationstransmittedorotherwisemadeavailabletoanypartyinthecourseofitsevaluationoftheproposedtransactionandnoresponsibilityorliabilitywhatsoeverisacceptedfortheaccuracyor sufficiencythereoforforanyerrors,omissionsormisstatements,negligentorotherwise,relatingthereto.YoualsoacknowledgeandagreethattheinformationcontainedinthisPresentationispreliminaryinnatureandissubjecttochange,andanysuchchangesmaybematerial.RTPandJobydisclaimanydutyto updatetheinformationcontainedinthisPresentation. ForwardLookingStatements This document contains certain forward-looking statements within the meaning of the federal securities laws with respect tothe proposed transaction between RTPand Joby. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,”“future,”“opportunity,”“plan,”“may,”“should,”“will,”“would,”“willbe,”“willcontinue,”“willlikelyresult,”andsimilarexpressions. Forward-lookingstatementsarepredictions, projectionsandotherstatementsaboutfutureeventsthatarebasedoncurrentexpectationsandassumptionsand, asaresult, are subjecttorisksanduncertainties. Manyfactorscouldcauseactualfutureeventstodiffer materiallyfromtheforward-lookingstatementsinthisdocument, includingbutnotlimitedto: (i)theriskthatthetransactionmaynot becompletedinatimelymanneroratall, whichmayadverselyaffectthepriceofRTP’s securities,(ii)theriskthatthetransactionmaynotbecompletedbyRTP’sbusinesscombinationdeadlineandthepotentialfailuretoobtainanextensionofthebusinesscombinationdeadlineifsoughtbyRTP,(iii)thefailuretosatisfytheconditionstotheconsummationofthetransaction,includingtheadoptionof the Agreement and Plan of Merger, dated as of February 23, 2021 (the “Merger Agreement”), by and among RTP, Joby and RTP Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of RTP, by the shareholders of RTP, the satisfaction of the minimumtrust account amount following redemptionsbyRTP’spublicshareholdersandthereceiptofcertaingovernmentalandregulatoryapprovals,(iv)thelackofathirdpartyvaluationindeterminingwhetherornottopursuethetransaction,(v)theinabilitytocompletethePIPEinvestmentinconnectionwiththetransaction,(vi)theoccurrenceofany event, changeorothercircumstancethat couldgiverisetotheterminationoftheMergerAgreement, (vii)theeffect oftheannouncement orpendencyofthetransactiononJoby’sbusinessrelationships, operatingresultsandbusinessgenerally, (viii)risksthattheproposedtransactiondisruptscurrent plansand operations of Jobyandpotential difficultiesinJobyemployeeretentionasaresult ofthetransaction, (ix) theoutcomeof anylegal proceedings or other disputesthat maybeinstitutedagainst Joby or against RTPrelatedtothe Merger Agreement orthetransaction, (x) theabilityto maintainthelistingof RTP’s securitiesonanationalsecuritiesexchange,(xi)thepotentialvolatilityofRTP’ssecurities,whichmayresultfromavarietyoffactors,includingchangesinthecompetitiveandhighlyregulatedindustriesinwhichRTPplanstooperateorJobyoperates,variationsinoperatingperformanceacrosscompetitors,changesin lawsandregulationsaffectingRTP’sorJoby’sbusinessandchangesinthecombinedcapitalstructure,(xii)theabilitytoimplementbusinessplans,forecasts,andotherexpectationsafterthecompletionofthetransaction,andidentifyandrealizeadditionalopportunities,and(xiii)theriskofdownturnsandachanging regulatorylandscapeinthehighlycompetitiveaviationindustry.Theforegoinglistoffactorsisnotexhaustive.Youshouldcarefullyconsidertheforegoingfactorsandtheotherrisksanduncertaintiesdescribedinthe“RiskFactors”sectionofRTP’sAnnualReportonForm10-KfortheyearendedDecember31,2020,as amended,theregistrationstatement onFormS-4(333-254988)discussedbelowandotherdocumentsfiledbyRTPfromtimetotimewiththeSEC. Thesefilingsidentifyandaddressotherimportantrisksanduncertaintiesthat couldcauseactualeventsandresultstodiffermateriallyfromthosecontainedinthe forward-lookingstatements.Forward-lookingstatementsspeakonlyasofthedatetheyaremade.Readersarecautionednottoputunduerelianceonforward-lookingstatements,andRTPandJobyassumenoobligationanddonotintendtoupdateorrevisetheseforward-lookingstatements,whetherasaresultof newinformation,futureevents,orotherwise.NeitherRTPnorJobygivesanyassurancethateitherRTPorJobyorthecombinedcompanywillachieveitsexpectations. Trademarks Allrightstothetrademarks,copyrights,logosandotherintellectualpropertylistedhereinbelongtotheirrespectiveownersandthisPresentation’susethereofdoesnotimplyanaffiliationwith,orendorsementbytheownersofsuchtrademarks,copyrights,logosandotherintellectualproperty.Solelyforconvenience, trademarksandtradenamesreferredtointhisPresentationmayappearwiththe®or™symbols,butsuchreferencesarenotintendedtoindicate,inanyway,thatsuchnamesandlogosaretrademarksorregisteredtrademarksofRTPorJoby. IndustryandMarketData ThisPresentationcontainsstatisticaldata,estimatesandforecastsprovidedbyJobyand/orarebasedonindependentindustrypublicationsorotherpubliclyavailableinformation,aswellasotherinformationbasedonJoby’sinternalsources.Thisinformationinvolvesmanyassumptionsandlimitationsandyouare cautionednottogiveundueweighttotheseestimates. WehavenotindependentlyverifiedtheaccuracyorcompletenessofthedatathathasbeenprovidedbyJobyand/orcontainedintheseindustrypublicationsandotherpubliclyavailableinformation.Accordingly,neitherRTPnorJobynoranyoftheiraffiliates andadvisorsmakesanyrepresentationsastotheaccuracyorcompletenessofthesedata. FinancialInformationandNon-GAAPMeasures ThisPresentationcontainscertainestimatedpreliminaryfinancialresultsandkeyoperatingmetrics.Thisinformationispreliminaryandsubjecttochange.Assuch,theactualresultsmaydifferfromtheestimatedpreliminaryresultspresentedhere.ThisPresentationincludesnon-GAAPfinancialmeasures.Thesenon- GAAP measures arean addition, and not a substitutefor or superior to, measures of financial performance preparedin accordance with GAAPand should not be considered as an alternativetoany performance measures derivedin accordance with GAAP. Other companies may calculate non-GAAP measures differently,ormayuseothermeasurestocalculatetheirfinancialperformance,andtherefore,Joby’snon-GAAPmeasuresmaynotbedirectlycomparabletosimilarlytitledmeasuresofothercompaniesortransactions.Additionally,totheextentthatforward-lookingnon-GAAPfinancialmeasuresareprovided,they arepresentedonanon-GAAPbasiswithoutreconciliationsofsuchforward-lookingnon-GAAPmeasuresduetotheinherentdifficultyinforecastingandquantifyingcertainamountsthatarenecessaryforsuchreconciliations. UseofProjections ThisPresentationalsocontainscertainfinancialforecasts. Theseprojectionsareforillustrativepurposesonlyandshouldnotberelieduponasbeingnecessarilyindicativeoffutureresults. Theassumptionsandestimatesunderlyingtheprospectivefinancialinformationareinherentlyuncertainandaresubjecttoa widevarietyofsignificantbusiness,economicandcompetitiverisksanduncertaintiesthatcouldcauseactualresultstodiffermateriallyfromthosecontainedintheprospectivefinancialinformation.ProjectionsareinherentlyuncertainduetoanumberoffactorsoutsideofRTP’sandJoby’scontrol. Whileallfinancial projections,estimatesandtargetsarenecessarilyspeculative,RTPandJobybelievethepreparationofprospectivefinancialinformationinvolvesincreasinglyhigherlevelsofuncertaintythefurtherouttheprojection,estimateortargetextendsfromthedateofpreparation.Accordingly,therecanbenoassurancethat theprospectiveresultsareindicativeoffutureperformanceofRTP,Jobyorthecombinedcompanyaftertheproposedtransactionorthatactualresultswillnotdiffermateriallyfromthosepresentedintheprospectivefinancialinformation.InclusionoftheprospectivefinancialinformationinthisPresentationshould notberegardedasarepresentationbyanypersonthattheresultscontainedintheprospectivefinancialinformationwillbeachieved. ImportantInformationforInvestorsandStockholders ThisdocumentrelatestoaproposedtransactionbetweenRTPandJoby.Inconnectionwiththeproposedtransaction, RTPhasfiledaregistrationstatement onFormS-4(333-254988), whichincludesapreliminaryprospectusandproxystatement ofRTP, referredtoasaproxystatement/prospectus.Afinalproxy statement/prospectuswillbesenttoallRTPshareholders.RTPalsowillfileotherdocumentsregardingtheproposedtransactionwiththeSEC.Beforemakinganyvotingdecision,investorsandsecurityholdersofRTPareurgedtoreadtheregistrationstatement,theproxystatement/prospectusandallotherrelevant documentsfiledorthatwillbefiledwiththeSECinconnectionwiththeproposedtransactionastheybecomeavailablebecausetheywillcontainimportantinformationabouttheproposedtransaction. Investorsandsecurityholderswillbeabletoobtainfreecopiesoftheregistrationstatement,theproxystatement/prospectusandallotherrelevantdocumentsfiledorthatwillbefiledwiththeSECbyRTPthroughthewebsitemaintainedbytheSECatwww.sec.gov. ThedocumentsfiledbyRTPwiththeSECalsomaybeobtainedfreeofchargeatRTP’swebsiteathttps://www.reinventtechnologypartners.comoruponwrittenrequestto215ParkAvenue,Floor11NewYork,NY. ParticipantsintheSolicitation RTPandJobyandtheirrespectivedirectorsandexecutiveofficers maybedeemedtobeparticipantsinthesolicitationofproxiesfromRTP’sshareholdersinconnectionwiththeproposedtransaction.Alist ofthenamesofthedirectorsandexecutiveofficersofRTPandinformationregardingtheirinterestsinthe businesscombinationwillbecontainedintheproxystatement/prospectuswhenavailable.Youmayobtainfreecopiesofthesedocumentsasdescribedintheprecedingparagraph. 2 | Joby Aviation

Welcome 3 3 | | Jo Job by y A Av viia at tiio on nWelcome 3 3 | | Jo Job by y A Av viia at tiio on n

Aerial Ridesharing Paul Sciarra Executive Chairman 4 | Joby AviationAerial Ridesharing Paul Sciarra Executive Chairman 4 | Joby Aviation

Cities are getting bigger and more congested Urbanization and under-funded infrastructure remain powerful trends Sustainable mobility is more critical than ever 4.6B/yr 29% 70% hours wasted in traffic CO2 emissions attributable to global population will be in the top 15 U.S. metros transportation sector in U.S. living in cities by 2050 5 | Joby AviationCities are getting bigger and more congested Urbanization and under-funded infrastructure remain powerful trends Sustainable mobility is more critical than ever 4.6B/yr 29% 70% hours wasted in traffic CO2 emissions attributable to global population will be in the top 15 U.S. metros transportation sector in U.S. living in cities by 2050 5 | Joby Aviation

Aerial ridesharing unlocks the third dimension of urban transportation Sustainable Fast Scalable exponential scaling of routes at a all-electric aircraft, 5X faster than driving in major metros¹ fraction of the infrastructure cost zero operating emissions 1. Calculated based on average Joby aircraft speed of 125 mph vs. 25 mph in Los Angeles traffic per 6 6 | | Jo Job by y A Av viia at tiio on n Google Maps average travel times at rush hour for each individual trip, averaged across all trips Aerial ridesharing unlocks the third dimension of urban transportation Sustainable Fast Scalable exponential scaling of routes at a all-electric aircraft, 5X faster than driving in major metros¹ fraction of the infrastructure cost zero operating emissions 1. Calculated based on average Joby aircraft speed of 125 mph vs. 25 mph in Los Angeles traffic per 6 6 | | Jo Job by y A Av viia at tiio on n Google Maps average travel times at rush hour for each individual trip, averaged across all trips

Air travel trends toward frequency, safety, and affordability 1 2 Accidents per Million Departures Million Departures 1.8 350 1.6 300 1.4 Carrying these trends 250 1.2 to the urban level will 200 be transformative 1 0.8 150 0.6 100 0.4 50 0.2 0 0 1972 1977 1982 1987 1992 1997 2002 2007 2012 2017 1. The Aviation Safety Network database (http://aviation-safety.net) 2. https://data.worldbank.org/indicator/IS.AIR.PSGR?end=2019&start=1970&view=chart 7 | Joby AviationAir travel trends toward frequency, safety, and affordability 1 2 Accidents per Million Departures Million Departures 1.8 350 1.6 300 1.4 Carrying these trends 250 1.2 to the urban level will 200 be transformative 1 0.8 150 0.6 100 0.4 50 0.2 0 0 1972 1977 1982 1987 1992 1997 2002 2007 2012 2017 1. The Aviation Safety Network database (http://aviation-safety.net) 2. https://data.worldbank.org/indicator/IS.AIR.PSGR?end=2019&start=1970&view=chart 7 | Joby Aviation

Santa Monica to Burbank in 10 mins Departure SMO Arrival BUR Drive Time 39 Minutes Flight Time 10 Minutes 8 8 | | Jo Job by y A Av viia at tiio on nSanta Monica to Burbank in 10 mins Departure SMO Arrival BUR Drive Time 39 Minutes Flight Time 10 Minutes 8 8 | | Jo Job by y A Av viia at tiio on n

Downtown LA to LAX in 8 mins Departure DTLA Arrival LAX Drive Time 23 Minutes Flight Time 8 Minutes 9 9 | | Jo Job by y A Av viia at tiio on nDowntown LA to LAX in 8 mins Departure DTLA Arrival LAX Drive Time 23 Minutes Flight Time 8 Minutes 9 9 | | Jo Job by y A Av viia at tiio on n

Hollywood to Palm Springs in 52 mins Departure HWD Arrival PSP Drive Time 2 hrs 22 min Flight Time 52 Minutes 10 10 | | Jo Job by y A Av viia at tiio on nHollywood to Palm Springs in 52 mins Departure HWD Arrival PSP Drive Time 2 hrs 22 min Flight Time 52 Minutes 10 10 | | Jo Job by y A Av viia at tiio on n

Massive untapped market opportunity 300+ aircraft Market opportunity of $500M+ per year in LA alone 11 11 | | Jo Job by y A Av viia at tiio on nMassive untapped market opportunity 300+ aircraft Market opportunity of $500M+ per year in LA alone 11 11 | | Jo Job by y A Av viia at tiio on n

Joby’s three keys to success Right Aircraft, Certified Scaled Production Go to Market 12 | Joby AviationJoby’s three keys to success Right Aircraft, Certified Scaled Production Go to Market 12 | Joby Aviation

Our timeline to certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified Scaled Production Go to Market 13 | Joby AviationOur timeline to certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified Scaled Production Go to Market 13 | Joby Aviation

Experienced team with meaningful industry experience TODAY’S PRESENTERS JoeBen Bevirt Jon Wagner Matt Field Paul Sciarra Greg Bowles Bonny Simi Eric Allison Founder & CEO Head of Powertrain CFO Executive Chairman Head of Gov’t Affairs Head of Air Ops & People Head of Product Serial Entrepreneur Sr Director of Battery CFO of Ford, Founder, Pinterest Co-chairman of FAA Part President & Founder of JetBlue Head of Uber Elevate North America Engineering 23 Rulemaking Technology Ventures Justin Lang Gregor Veble Mikic Didier Papadopoulos Robert Thodal Kate DeHoff Head of Partnerships & Strategy Flight Physics Lead Head of Program Management & Airframe & Actuators Lead General Counsel & Corporate System Engineering Secretary Corporate Practice Lead Physics Developer VP of Aviation Systems PhD, Mechanical Engineering Director, Legal Santiago Morales Dan O’Malley Joe Brennan Lina Spross Steve Waller Integration Manufacturing Lead Composites Manufacturing & Quality & Supply Chain Lead Software Lead Zamora Assembly Lead Testing Lead Director, Operations Director, Manufacturing Director, Quality Sr Staff Engineer Sr Mechanical Engineer, Testing 14 | Joby AviationExperienced team with meaningful industry experience TODAY’S PRESENTERS JoeBen Bevirt Jon Wagner Matt Field Paul Sciarra Greg Bowles Bonny Simi Eric Allison Founder & CEO Head of Powertrain CFO Executive Chairman Head of Gov’t Affairs Head of Air Ops & People Head of Product Serial Entrepreneur Sr Director of Battery CFO of Ford, Founder, Pinterest Co-chairman of FAA Part President & Founder of JetBlue Head of Uber Elevate North America Engineering 23 Rulemaking Technology Ventures Justin Lang Gregor Veble Mikic Didier Papadopoulos Robert Thodal Kate DeHoff Head of Partnerships & Strategy Flight Physics Lead Head of Program Management & Airframe & Actuators Lead General Counsel & Corporate System Engineering Secretary Corporate Practice Lead Physics Developer VP of Aviation Systems PhD, Mechanical Engineering Director, Legal Santiago Morales Dan O’Malley Joe Brennan Lina Spross Steve Waller Integration Manufacturing Lead Composites Manufacturing & Quality & Supply Chain Lead Software Lead Zamora Assembly Lead Testing Lead Director, Operations Director, Manufacturing Director, Quality Sr Staff Engineer Sr Mechanical Engineer, Testing 14 | Joby Aviation

Agenda Business Overview Paul Sciarra, Executive Chairman Our Aircraft JoeBen Bevirt, Founder & Chief Executive Officer Jon Wagner, Powertrain & Electronics Lead Q&A and Break Certification & Operations Greg Bowles, Head of Government Affairs Bonny Simi, Head of Flight Operations Manufacturing Matt Field, Chief Financial Officer Q&A and Break Commercialization & Go-To-Market Eric Allison, Head of Product Financial Overview Matt Field, Chief Financial Officer Q&A 15 | Joby AviationAgenda Business Overview Paul Sciarra, Executive Chairman Our Aircraft JoeBen Bevirt, Founder & Chief Executive Officer Jon Wagner, Powertrain & Electronics Lead Q&A and Break Certification & Operations Greg Bowles, Head of Government Affairs Bonny Simi, Head of Flight Operations Manufacturing Matt Field, Chief Financial Officer Q&A and Break Commercialization & Go-To-Market Eric Allison, Head of Product Financial Overview Matt Field, Chief Financial Officer Q&A 15 | Joby Aviation

Our Aircraft JoeBen Bevirt Founder & Chief Executive Officer 16 | Joby AviationOur Aircraft JoeBen Bevirt Founder & Chief Executive Officer 16 | Joby Aviation

The right aircraft for the market Vertical take off 4 passenger for Piloted to facilitate and landing certification and optimal economics public acceptance 150+ mile 200 mph Zero operating max range top speed emissions 17 17 | | Jo Job by y A Av viia at tiio on nThe right aircraft for the market Vertical take off 4 passenger for Piloted to facilitate and landing certification and optimal economics public acceptance 150+ mile 200 mph Zero operating max range top speed emissions 17 17 | | Jo Job by y A Av viia at tiio on n

Breakthrough enabling technology: Distributed Electric Propulsion Distributing multiple smaller and simpler electric motors across the aircraft enables: Safety: No single points of failure across aircraft systems Acoustics: Electric motors enable a reduced sound profile Economics: Reduced maintenance downtime; savings on fuel costs 18 18 | | Jo Job by y A Av viia at tiio on nBreakthrough enabling technology: Distributed Electric Propulsion Distributing multiple smaller and simpler electric motors across the aircraft enables: Safety: No single points of failure across aircraft systems Acoustics: Electric motors enable a reduced sound profile Economics: Reduced maintenance downtime; savings on fuel costs 18 18 | | Jo Job by y A Av viia at tiio on n

Designed for safety with high levels of redundancy 6 propellors – can fly safely with the loss of any one propellor Each motor is redundant and powered by two separate inverters Each inverter is wired to a separate battery pack 4 isolated and redundant battery packs on board Motor continues to function if an inverter or pack fails Our aircraft has no single points of failure across aircraft systems 19 | Joby AviationDesigned for safety with high levels of redundancy 6 propellors – can fly safely with the loss of any one propellor Each motor is redundant and powered by two separate inverters Each inverter is wired to a separate battery pack 4 isolated and redundant battery packs on board Motor continues to function if an inverter or pack fails Our aircraft has no single points of failure across aircraft systems 19 | Joby Aviation

Joby Takeoff | 65 dBA Joby Cruise | 40 dBA | 20 dBA Leaves in Wind Designed to be quiet Helicopter | 93 dBA Low noise is critically important for community acceptance Allows skyport infrastructure to be centrally located The Joby aircraft is 100x quieter than a helicopter at takeoff* Near silent in overhead flight * dBA is a logarithmic measurement; a 3 dBA increase represents roughly a doubling in acoustic intensity 20 | Joby Aviation dBA readings at 100mJoby Takeoff | 65 dBA Joby Cruise | 40 dBA | 20 dBA Leaves in Wind Designed to be quiet Helicopter | 93 dBA Low noise is critically important for community acceptance Allows skyport infrastructure to be centrally located The Joby aircraft is 100x quieter than a helicopter at takeoff* Near silent in overhead flight * dBA is a logarithmic measurement; a 3 dBA increase represents roughly a doubling in acoustic intensity 20 | Joby Aviation dBA readings at 100m

Designed for low operating costs No hydrocarbon fuel is good for both the bottom line and the environment Fewer mechanical parts means lower maintenance costs and downtime Enables end user pricing that existing aerial alternatives can't match 21 | Joby AviationDesigned for low operating costs No hydrocarbon fuel is good for both the bottom line and the environment Fewer mechanical parts means lower maintenance costs and downtime Enables end user pricing that existing aerial alternatives can't match 21 | Joby Aviation

Advanced flight control software makes the aircraft simple to operate Fly-by-wire flight controls reduce pilot workload Fly-by-wire flight controls reduce pilot workload Automated ‘envelope protection’ mitigates pilot error by inhibiting Automated ‘envelope protection’ commands that exceed safe operating mitigates pilot error by inhibiting limits commands that exceed safe operating limits Frees pilot to focus on the mission, situational awareness, and rider Frees pilot to focus on the experience mission, situational awareness, and rider experience 22 | Joby AviationAdvanced flight control software makes the aircraft simple to operate Fly-by-wire flight controls reduce pilot workload Fly-by-wire flight controls reduce pilot workload Automated ‘envelope protection’ mitigates pilot error by inhibiting Automated ‘envelope protection’ commands that exceed safe operating mitigates pilot error by inhibiting limits commands that exceed safe operating limits Frees pilot to focus on the mission, situational awareness, and rider Frees pilot to focus on the experience mission, situational awareness, and rider experience 22 | Joby Aviation

Battery & Powertrain Technology Jon Wagner Head of Powertrain 23 | Joby AviationBattery & Powertrain Technology Jon Wagner Head of Powertrain 23 | Joby Aviation

Our integrated powertrain delivers proven performance Motor design refined over 10 years of work Patented direct drive motor with integrated controls & inverter No commercial equivalent 24 | Joby AviationOur integrated powertrain delivers proven performance Motor design refined over 10 years of work Patented direct drive motor with integrated controls & inverter No commercial equivalent 24 | Joby Aviation

Our aircraft compared to a Tesla Model 3 Long Range Battery capacity * 75 kWh 2x ** Torque density (Motor+Inverter) 10 Nm/Kg 6x * Total Propulsion Power 335 kW 3x Weight * 1847 kg 5% lighter * https://en.wikipedia.org/wiki/Tesla_Model_3 25 | Joby Aviation ** https://motorxp.com/wp-content/uploads/mxp_analysis_TeslaModel3.pdfOur aircraft compared to a Tesla Model 3 Long Range Battery capacity * 75 kWh 2x ** Torque density (Motor+Inverter) 10 Nm/Kg 6x * Total Propulsion Power 335 kW 3x Weight * 1847 kg 5% lighter * https://en.wikipedia.org/wiki/Tesla_Model_3 25 | Joby Aviation ** https://motorxp.com/wp-content/uploads/mxp_analysis_TeslaModel3.pdf

Battery cost is a less significant driver of unit cost compared to EVs 1 BEV eVTOL ~10% ~40% Battery Battery Other costs Other costs 1. https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/making-electric-vehicles-profitable# 26 | Joby AviationBattery cost is a less significant driver of unit cost compared to EVs 1 BEV eVTOL ~10% ~40% Battery Battery Other costs Other costs 1. https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/making-electric-vehicles-profitable# 26 | Joby Aviation

Our battery pack is built with proven technology Commercialized at scale for In Development Automotive & Consumer Products Optimal tradeoff between energy density and cell lifetime Lithium-ion chemistry, NMC 811 811 NMC cathode and Graphite Anode graphite anode eVTOL Lifetime Between Solid Replacement State Robust and proven automotive cell Partial construction & chemistry Silicon Anode ? Upgrade ready when new technology is commercialized Lithium Silicon Metal Anode Gravimetric Energy Density (Wh/kg) 27 | Joby AviationOur battery pack is built with proven technology Commercialized at scale for In Development Automotive & Consumer Products Optimal tradeoff between energy density and cell lifetime Lithium-ion chemistry, NMC 811 811 NMC cathode and Graphite Anode graphite anode eVTOL Lifetime Between Solid Replacement State Robust and proven automotive cell Partial construction & chemistry Silicon Anode ? Upgrade ready when new technology is commercialized Lithium Silicon Metal Anode Gravimetric Energy Density (Wh/kg) 27 | Joby Aviation

Engineered for redundancy and safety Long Range Battery Pack • More emergency options • Able to fast charge • Longer operating lifetime • Mission flexibility Built for Safety • Batteries in wing away from passengers • 4 fully redundant packs • Mitigations for all failures 28 28 | | Jo Job by y A Av viia at tiio on nEngineered for redundancy and safety Long Range Battery Pack • More emergency options • Able to fast charge • Longer operating lifetime • Mission flexibility Built for Safety • Batteries in wing away from passengers • 4 fully redundant packs • Mitigations for all failures 28 28 | | Jo Job by y A Av viia at tiio on n

We’ve done the work to test and validate our design Battery in altitude chamber Battery HIRF test Vibration test Battery undergoing Battery pack drop test electrical test 29 | Joby AviationWe’ve done the work to test and validate our design Battery in altitude chamber Battery HIRF test Vibration test Battery undergoing Battery pack drop test electrical test 29 | Joby Aviation

Investing in designing, manufacturing, and testing in house Production and testing done at our San Carlos facility Fast engineering iteration cycles Gaining experience for mass manufacturing Higher control & success likelihood over the certification process Production line prototyping underway 30 | Joby AviationInvesting in designing, manufacturing, and testing in house Production and testing done at our San Carlos facility Fast engineering iteration cycles Gaining experience for mass manufacturing Higher control & success likelihood over the certification process Production line prototyping underway 30 | Joby Aviation

Certification Greg Bowles Head of Government Affairs 31 | Joby AviationCertification Greg Bowles Head of Government Affairs 31 | Joby Aviation

Getting to a Certifiable Design Joby’s Timeline Conceptual Developmental Detail Design & Design Testing Full-Scale Flight Test 2009 2015 2017 2018 32 | Joby Aviation Begin Formal FAA CertificationGetting to a Certifiable Design Joby’s Timeline Conceptual Developmental Detail Design & Design Testing Full-Scale Flight Test 2009 2015 2017 2018 32 | Joby Aviation Begin Formal FAA Certification

FAA certification is the cornerstone of modern aviation Compliance Type Certification G-1 G-2 Reports Data Sheet (TCDS) Certification Basis Means of Compliance Demonstration of Verification of (What Rules Apply?) (Which Tests & Compliance Compliance Analysis?) (Doing Testing w/FAA) (FAA Review of Testing & Reports) 33 | Joby Aviation Begin Formal FAA Certification FAA Certified Aircraft DesignFAA certification is the cornerstone of modern aviation Compliance Type Certification G-1 G-2 Reports Data Sheet (TCDS) Certification Basis Means of Compliance Demonstration of Verification of (What Rules Apply?) (Which Tests & Compliance Compliance Analysis?) (Doing Testing w/FAA) (FAA Review of Testing & Reports) 33 | Joby Aviation Begin Formal FAA Certification FAA Certified Aircraft Design

Paving the certification path took over a decade of hard work 2007 2011 2013 2017 2018 2020 2015 FAA Revitalizing Part 23 G1 Preliminary discussions Issued Joby with FAA Formal FAA Certification 34 | Joby AviationPaving the certification path took over a decade of hard work 2007 2011 2013 2017 2018 2020 2015 FAA Revitalizing Part 23 G1 Preliminary discussions Issued Joby with FAA Formal FAA Certification 34 | Joby Aviation

We have consciously designed our aircraft to fit into a modernized ruleset Airplane Part 23 gives us flexibility and certainty Part 23 Pilots are widely available Helicopter Use of existing aviation infrastructure Part 27/29 Clear certification pathway Special Part 21.17(B) 35 | Joby AviationWe have consciously designed our aircraft to fit into a modernized ruleset Airplane Part 23 gives us flexibility and certainty Part 23 Pilots are widely available Helicopter Use of existing aviation infrastructure Part 27/29 Clear certification pathway Special Part 21.17(B) 35 | Joby Aviation

We are progressing steadily through the rigorous FAA process Certification Means of Demonstration of Verification of Basis Compliance Compliance Compliance Joby’s Finished In Progress Starting in 2023 Progress 36 | Joby AviationWe are progressing steadily through the rigorous FAA process Certification Means of Demonstration of Verification of Basis Compliance Compliance Compliance Joby’s Finished In Progress Starting in 2023 Progress 36 | Joby Aviation

Certification milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Right Aircraft, Certified ✓ G1 cert First FAA basis for-credit testing FAA flight test, First flight of type-design Type cert issued representative aircraft 37 | Joby AviationCertification milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Right Aircraft, Certified ✓ G1 cert First FAA basis for-credit testing FAA flight test, First flight of type-design Type cert issued representative aircraft 37 | Joby Aviation

Certification experience to get it done Team Member Years of Experience Team Member 31+ years 21 – 30 years 10 – 20 years < 10 years 100+ team with 1400+ years of combined experience certifying and developing aircraft 38 | Joby AviationCertification experience to get it done Team Member Years of Experience Team Member 31+ years 21 – 30 years 10 – 20 years < 10 years 100+ team with 1400+ years of combined experience certifying and developing aircraft 38 | Joby Aviation

Operations Bonny Simi Head of Air Operations 39 | Joby AviationOperations Bonny Simi Head of Air Operations 39 | Joby Aviation

Our aircraft also fits into existing aviation operations rules AVIATION RULES HOW WE PLAN TO OPERATE TIMELINE Air Carrier Certificate Joby FAA Part 135 Mid 2022 x Pilots Commercial level pilots Exists today Airspace Existing VFR/IFR Rules Exists today 40 40 | | Jo Job by y A Av viia at tiio on nOur aircraft also fits into existing aviation operations rules AVIATION RULES HOW WE PLAN TO OPERATE TIMELINE Air Carrier Certificate Joby FAA Part 135 Mid 2022 x Pilots Commercial level pilots Exists today Airspace Existing VFR/IFR Rules Exists today 40 40 | | Jo Job by y A Av viia at tiio on n

We’re leveraging a large pool of pilots while future proofing our pipeline Joby needs to capture less than <0.5% of all available commercial pilots Future proofing operations with FAA certified pilot training program Business model does not rely on autonomy for economics Planning on operating with pilots for the foreseeable future 41 | Joby AviationWe’re leveraging a large pool of pilots while future proofing our pipeline Joby needs to capture less than <0.5% of all available commercial pilots Future proofing operations with FAA certified pilot training program Business model does not rely on autonomy for economics Planning on operating with pilots for the foreseeable future 41 | Joby Aviation

Early revenue opportunities with the DoD reduce technology and operational risk Contract through the Air Force’s Agility Prime program Received military airworthiness approval in 2020 $40MM in contracts already secured from DoD Over $100MM+ of contracts in discussion Additional opportunities to provide on base logistics in the future 42 42 | | Jo Job by y A Av viia at tiio on nEarly revenue opportunities with the DoD reduce technology and operational risk Contract through the Air Force’s Agility Prime program Received military airworthiness approval in 2020 $40MM in contracts already secured from DoD Over $100MM+ of contracts in discussion Additional opportunities to provide on base logistics in the future 42 42 | | Jo Job by y A Av viia at tiio on n

Manufacturing Matt Field Chief Financial Officer 43 | Joby AviationManufacturing Matt Field Chief Financial Officer 43 | Joby Aviation

Staged approach to production supports certification and growth Phase II Production Thousands of Aircraft per year Performance Auto – Ferrari 10,131 Performance Auto – McLaren 4,662 Phase I Production Cirrus SR22 331 200-400 Aircraft per year Airbus H125 Helicopter 159 Cirrus SF50 81 Embraer Phenom 300 51 Pilot Production Not to scale 30 Aircraft per year 2021 2024 Future 44 | Joby AviationStaged approach to production supports certification and growth Phase II Production Thousands of Aircraft per year Performance Auto – Ferrari 10,131 Performance Auto – McLaren 4,662 Phase I Production Cirrus SR22 331 200-400 Aircraft per year Airbus H125 Helicopter 159 Cirrus SF50 81 Embraer Phenom 300 51 Pilot Production Not to scale 30 Aircraft per year 2021 2024 Future 44 | Joby Aviation

Our integrated powertrain is a key differentiator 10+ years of in-house motor development Significant IP around EPU technologies Automation to support scale 45 | Joby AviationOur integrated powertrain is a key differentiator 10+ years of in-house motor development Significant IP around EPU technologies Automation to support scale 45 | Joby Aviation

Advanced manufacturing improves unit cost, performance, and weight Reduction in materials and weight Increases speed of manufacturing Subtractive backups to de risk certification 46 | Joby AviationAdvanced manufacturing improves unit cost, performance, and weight Reduction in materials and weight Increases speed of manufacturing Subtractive backups to de risk certification 46 | Joby Aviation

Composite automation increases precision and speed with less waste * 10x faster compared to human worker * 500 Video of C1 labor hours per aircraft reduction * Significant reduction in material waste * Based solely on. Joby Aviation Management Expectations 47 | Joby AviationComposite automation increases precision and speed with less waste * 10x faster compared to human worker * 500 Video of C1 labor hours per aircraft reduction * Significant reduction in material waste * Based solely on. Joby Aviation Management Expectations 47 | Joby Aviation

We take a practical approach to scaled manufacturing 48 | Joby AviationWe take a practical approach to scaled manufacturing 48 | Joby Aviation

Toyota partnership helps de-risk and accelerate our manufacturing capabilities Toyota manufacturing engineers partnering with Joby to design production processes Advanced studies have improved plant layout prior to installing equipment Automotive production efficiencies and selected sourcing support scaling 49 | Joby AviationToyota partnership helps de-risk and accelerate our manufacturing capabilities Toyota manufacturing engineers partnering with Joby to design production processes Advanced studies have improved plant layout prior to installing equipment Automotive production efficiencies and selected sourcing support scaling 49 | Joby Aviation

Production milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Scaled Production Production Announce cert issued Phase 1 plant site First vehicle Phase 1 plant off Pilot line comes online 50 | Joby AviationProduction milestones: deep dive Time Today 2021 2022 2023 2024 H2 H1 Scaled Production Production Announce cert issued Phase 1 plant site First vehicle Phase 1 plant off Pilot line comes online 50 | Joby Aviation

Go to Market Eric Allison Head of Product 51 | Joby AviationGo to Market Eric Allison Head of Product 51 | Joby Aviation

Right aircraft Right market 52 52 | | Jo Job by y A Av viia at tiio on nRight aircraft Right market 52 52 | | Jo Job by y A Av viia at tiio on n

Press a button… get a flight 53 | Joby AviationPress a button… get a flight 53 | Joby Aviation

Press a button… get a flight STEP 1 STEP 2 STEP 3 STEP 4 Select your The Joby service will At the origin skyport, At the destination destination through synthesize a trip for board a shared Joby skyport, another the Joby app or a you, starting with a aircraft and fly to the rideshare car will be partner app like rideshare pickup to destination skyport sequenced to meet Uber the nearest skyport at up to 200 mph you just as you arrive 54 | Joby AviationPress a button… get a flight STEP 1 STEP 2 STEP 3 STEP 4 Select your The Joby service will At the origin skyport, At the destination destination through synthesize a trip for board a shared Joby skyport, another the Joby app or a you, starting with a aircraft and fly to the rideshare car will be partner app like rideshare pickup to destination skyport sequenced to meet Uber the nearest skyport at up to 200 mph you just as you arrive 54 | Joby Aviation

Multimodal aerial ridesharing 55 55 | | Jo Job by y A Av viia at tiio on nMultimodal aerial ridesharing 55 55 | | Jo Job by y A Av viia at tiio on n

Launching a virtuous cycle 56 | Joby AviationLaunching a virtuous cycle 56 | Joby Aviation

Supercharged by vertical integration 57 | Joby AviationSupercharged by vertical integration 57 | Joby Aviation

One day of movement in LA region Nearly 46M trips 58 58 | | Jo Job by y A Av viia at tiio on nOne day of movement in LA region Nearly 46M trips 58 58 | | Jo Job by y A Av viia at tiio on n

Which transportation modes do riders prefer? Example mode-choice scenario presented to survey participants Mode Cost per Total of Transit Passenger Minutes 60 min Personal Cost to Vehicle Operate 69 min Rideshare $60 72 min Pooled $39 Rideshare 1.5 min 14 min1 min 10 min 5 min = 31.5 min Joby $90 59 | Joby AviationWhich transportation modes do riders prefer? Example mode-choice scenario presented to survey participants Mode Cost per Total of Transit Passenger Minutes 60 min Personal Cost to Vehicle Operate 69 min Rideshare $60 72 min Pooled $39 Rideshare 1.5 min 14 min1 min 10 min 5 min = 31.5 min Joby $90 59 | Joby Aviation

Example two-skyport Hollywood network LAX 60 | Joby AviationExample two-skyport Hollywood network LAX 60 | Joby Aviation

Mode-choice model Hollywood predicts over 300 trips per day at $3/pax mile LAX 61 | Joby AviationMode-choice model Hollywood predicts over 300 trips per day at $3/pax mile LAX 61 | Joby Aviation

Ideal network: shortest path between each node 62 | Joby AviationIdeal network: shortest path between each node 62 | Joby Aviation

Joby aircraft must coexist with existing air traffic and users of the airspace 63 | Joby AviationJoby aircraft must coexist with existing air traffic and users of the airspace 63 | Joby Aviation

The Joby service must respect the design and operating rules of the existing airspace system Class B Class D Class C 64 | Joby AviationThe Joby service must respect the design and operating rules of the existing airspace system Class B Class D Class C 64 | Joby Aviation

Initial five skyport network that can serve 3,400 trips per day Class B Class D Class C 65 | Joby AviationInitial five skyport network that can serve 3,400 trips per day Class B Class D Class C 65 | Joby Aviation

Routes designed to respect airspace constraints Class B Class D Class C 66 | Joby AviationRoutes designed to respect airspace constraints Class B Class D Class C 66 | Joby Aviation

Larger 12 node network that can serve 12,500 trips per day Class B Class D Class C 67 | Joby AviationLarger 12 node network that can serve 12,500 trips per day Class B Class D Class C 67 | Joby Aviation

Adding in longer distance routes can unlock latent demand Class B Class D Class C 68 | Joby AviationAdding in longer distance routes can unlock latent demand Class B Class D Class C 68 | Joby Aviation

Extending and filling in the network allows deep market penetration at over 42,000 trips per day Class B Class D Class C 69 | Joby AviationExtending and filling in the network allows deep market penetration at over 42,000 trips per day Class B Class D Class C 69 | Joby Aviation

Demand modeling allows mapping of high value infrastructure locations Class B Class D Class C 70 | Joby AviationDemand modeling allows mapping of high value infrastructure locations Class B Class D Class C 70 | Joby Aviation

Candidate skyport sides based on demand analysis Class B Class C 71 | Joby AviationCandidate skyport sides based on demand analysis Class B Class C 71 | Joby Aviation

Partnership to unlock the potential of parking structures for aerial ridesharing 72 72 | | Jo Job by y A Av viia at tiio on nPartnership to unlock the potential of parking structures for aerial ridesharing 72 72 | | Jo Job by y A Av viia at tiio on n

Expanding our strategic partnerships 73 73 | | Jo Job by y A Av viia at tiio on nExpanding our strategic partnerships 73 73 | | Jo Job by y A Av viia at tiio on n

74 | Joby Aviation74 | Joby Aviation

Candidate skyport sides based on demand analysis Class B Class C 75 | Joby AviationCandidate skyport sides based on demand analysis Class B Class C 75 | Joby Aviation

~75% of potential skyports suitably close to partner- * controlled properties Class B Class C * Specifically for LA Region 76 | Joby Aviation~75% of potential skyports suitably close to partner- * controlled properties Class B Class C * Specifically for LA Region 76 | Joby Aviation

Elevate tools provide market insight 77 | Joby AviationElevate tools provide market insight 77 | Joby Aviation

Elevate tools enable network design 78 | Joby AviationElevate tools enable network design 78 | Joby Aviation

Elevate technologies power network operations 79 | Joby AviationElevate technologies power network operations 79 | Joby Aviation

Getting into the hands of customers 80 | Joby AviationGetting into the hands of customers 80 | Joby Aviation

Bringing the pieces together 81 | Joby AviationBringing the pieces together 81 | Joby Aviation

Commercialization milestones: deep dive Time Today 2021 2022 2023 2024 Go to Market/ H1 H2 H2 ✓ Commercialization Commercial DoD on-base FAA 135 cert Announce service launched flight testing achieved launch markets FAA 135 cert Scaled DoD on-base process begins logistic operations 82 | Joby AviationCommercialization milestones: deep dive Time Today 2021 2022 2023 2024 Go to Market/ H1 H2 H2 ✓ Commercialization Commercial DoD on-base FAA 135 cert Announce service launched flight testing achieved launch markets FAA 135 cert Scaled DoD on-base process begins logistic operations 82 | Joby Aviation

Financials Matt Field Chief Financial Officer 83 | Joby AviationFinancials Matt Field Chief Financial Officer 83 | Joby Aviation

Service Unit Economics at Scale in 2026 Revenue Drivers Per Plane ($M) Days a Week 7 Avg Flight Revenue $2.2 24 Miles Length Avg Flights / Day ~40 Cost of Goods Sold ($0.9) Cruising Revenue per ~165 mph $1.73 Speed available seat mile Gross Margin $1.3 Cost per available Avg Load $0.86 2.3 Passengers seat mile Factor Other Expenses ($0.3) Turnaround ~6 Minutes Time Contribution Margin $1.0 Price / $3.00 Seat Mile Payback Period 1.3 Years 84 | Joby AviationService Unit Economics at Scale in 2026 Revenue Drivers Per Plane ($M) Days a Week 7 Avg Flight Revenue $2.2 24 Miles Length Avg Flights / Day ~40 Cost of Goods Sold ($0.9) Cruising Revenue per ~165 mph $1.73 Speed available seat mile Gross Margin $1.3 Cost per available Avg Load $0.86 2.3 Passengers seat mile Factor Other Expenses ($0.3) Turnaround ~6 Minutes Time Contribution Margin $1.0 Price / $3.00 Seat Mile Payback Period 1.3 Years 84 | Joby Aviation

Service Unit Economics at Scale in 2026 Cost Drivers Per Plane ($M) Per available seat mile Days a Week 7 Pilot ~22¢ Revenue $2.2 Avg Flights / Day ~40 Maintenance Cost ~19¢ Cost of Goods Sold ($0.9) incl. Labor Revenue per $1.73 available seat mile Skyport Support / ~11¢ Gross Margin $1.3 Landing Fees Cost per available $0.86 seat mile Battery / Charging Other Expenses ($0.3) (~30kWh/Trip, 1Y ~13¢ Replacement) Contribution Margin $1.0 Aircraft & Insurance ~9¢ Other expenses ~12¢ Payback Period 1.3 Years 85 | Joby AviationService Unit Economics at Scale in 2026 Cost Drivers Per Plane ($M) Per available seat mile Days a Week 7 Pilot ~22¢ Revenue $2.2 Avg Flights / Day ~40 Maintenance Cost ~19¢ Cost of Goods Sold ($0.9) incl. Labor Revenue per $1.73 available seat mile Skyport Support / ~11¢ Gross Margin $1.3 Landing Fees Cost per available $0.86 seat mile Battery / Charging Other Expenses ($0.3) (~30kWh/Trip, 1Y ~13¢ Replacement) Contribution Margin $1.0 Aircraft & Insurance ~9¢ Other expenses ~12¢ Payback Period 1.3 Years 85 | Joby Aviation

Payback Period Sensitivity Analysis (Years) Price per Seat Mile $4.00 $3.50 $3.00 $2.50 $2.00 0.7 1.0 1.3 2.2 5.1 Cruising Speed (mph) Turnaround Load Factor (Passengers) * 85 125 165 200 Time 1.3 Years 3.0 0.8 5.0 6.7 1.8 1.1 0.9 Payback Period 2.5 1.1 7.0 12.9 2.4 1.5 1.2 2.0 1.9 Load Factor: 2.3 Cruise Speed: 165 mph 9.0 68.4 3.3 1.9 1.5 Price/Mile: $3.00 Turn Time: 6 mins 1.5 5.8 11.0 n/a 4.7 2.6 2.2 Full Aircraft: $1.3M 15.0 n/a 16.7 5.3 3.7 1.0 n/a 20.0 n/a n/a 72.2 14.1 Fully Burdened Aircraft Cost $0.9M $1.1M $1.3M $1.5M $1.8M $2.1M $2.3M 0.9 1.1 1.3 1.5 1.8 2.1 2.3 * Based solely on. Joby Aviation Management Expectations 86 | Joby Aviation Note: Mutually exclusive calculations should not be merged Current StatusPayback Period Sensitivity Analysis (Years) Price per Seat Mile $4.00 $3.50 $3.00 $2.50 $2.00 0.7 1.0 1.3 2.2 5.1 Cruising Speed (mph) Turnaround Load Factor (Passengers) * 85 125 165 200 Time 1.3 Years 3.0 0.8 5.0 6.7 1.8 1.1 0.9 Payback Period 2.5 1.1 7.0 12.9 2.4 1.5 1.2 2.0 1.9 Load Factor: 2.3 Cruise Speed: 165 mph 9.0 68.4 3.3 1.9 1.5 Price/Mile: $3.00 Turn Time: 6 mins 1.5 5.8 11.0 n/a 4.7 2.6 2.2 Full Aircraft: $1.3M 15.0 n/a 16.7 5.3 3.7 1.0 n/a 20.0 n/a n/a 72.2 14.1 Fully Burdened Aircraft Cost $0.9M $1.1M $1.3M $1.5M $1.8M $2.1M $2.3M 0.9 1.1 1.3 1.5 1.8 2.1 2.3 * Based solely on. Joby Aviation Management Expectations 86 | Joby Aviation Note: Mutually exclusive calculations should not be merged Current Status

Market Economics Indicative Market Returns 22 node network 300+ aircraft in fleet > $500M annual revenue > $225M service contribution margin 87 87 | | Jo Job by y A Av viia at tiio on nMarket Economics Indicative Market Returns 22 node network 300+ aircraft in fleet > $500M annual revenue > $225M service contribution margin 87 87 | | Jo Job by y A Av viia at tiio on n

Flight Academy Pilot Plant Production 2021-2024 Spending to Support Commercialization Capital Spending Operating Expenses & R&D Spending Not to scale $1,600 M $4.8B $1,400 M (1) Uber (2016 - 2020) $1,200 M $1.1B Skyports / Infrastructure $1,000 M $800 M $400-$450M Additional ~$450M $600 M Tesla (2010 - 2014) Joby Aircraft $1.8B $400 M Gross Spending $178M $200 M Net Phase I Joby (2020 - 2024) Spending Manufacturing $0 M Facilities & Tooling Year 1 Year 2 Year 3 Year 4 Year 5 (1) Uber OpEx includes R&D and G&A expenses. 2019 OpEx omits $3.2B in Stock Based Compensation related to IPO. 88 | Joby AviationFlight Academy Pilot Plant Production 2021-2024 Spending to Support Commercialization Capital Spending Operating Expenses & R&D Spending Not to scale $1,600 M $4.8B $1,400 M (1) Uber (2016 - 2020) $1,200 M $1.1B Skyports / Infrastructure $1,000 M $800 M $400-$450M Additional ~$450M $600 M Tesla (2010 - 2014) Joby Aircraft $1.8B $400 M Gross Spending $178M $200 M Net Phase I Joby (2020 - 2024) Spending Manufacturing $0 M Facilities & Tooling Year 1 Year 2 Year 3 Year 4 Year 5 (1) Uber OpEx includes R&D and G&A expenses. 2019 OpEx omits $3.2B in Stock Based Compensation related to IPO. 88 | Joby Aviation

First to market and production scale drives sustainable advantage Scalable Cost Long-Term Returns First-mover advantage Higher Production Demand Scale Sustainable Returns Improved Lower Cost Affordability Cumulative Aircraft Production 89 | Joby Aviation Aircraft CostFirst to market and production scale drives sustainable advantage Scalable Cost Long-Term Returns First-mover advantage Higher Production Demand Scale Sustainable Returns Improved Lower Cost Affordability Cumulative Aircraft Production 89 | Joby Aviation Aircraft Cost

Strong financial foundation to achieve commercialization Current Cash Position Existing Investor Base (1) • Dec 2020 Balance of $446M (2) • Reflects Series C raise of $524M • Funding through Certification (3) SPAC & PIPE Investors SPAC: ~$1.6B in Additional Cash • Funding projected to support operations through initial commercialization (1) Cash & cash equivalents and Short-term investments (2) Net proceeds from issuance of Series C redeemable convertible preferred stock 90 | Joby Aviation (3) Range of $1.0B-$1.6B dependent upon % of redemption by RTP ShareholdersStrong financial foundation to achieve commercialization Current Cash Position Existing Investor Base (1) • Dec 2020 Balance of $446M (2) • Reflects Series C raise of $524M • Funding through Certification (3) SPAC & PIPE Investors SPAC: ~$1.6B in Additional Cash • Funding projected to support operations through initial commercialization (1) Cash & cash equivalents and Short-term investments (2) Net proceeds from issuance of Series C redeemable convertible preferred stock 90 | Joby Aviation (3) Range of $1.0B-$1.6B dependent upon % of redemption by RTP Shareholders

Major milestones: certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified H2 H1 ✓ G1 cert First FAA basis for-credit testing First flight of type-design FAA flight test, representative aircraft Type cert issued Scaled Production H1 H2 Phase 1 plant Production cert Announce comes online issued Phase 1 plant site First vehicle off Pilot line Go to Market/Commercialization H1 H2 H2 ✓ Announce Scaled DoD Commercial service DoD on-base FAA 135 cert launch markets on-base logistics launched flight testing achieved operations FAA 135 cert process begins 91 | Joby AviationMajor milestones: certification, production, and commercialization Time Today 2021 2022 2023 2024 Right Aircraft, Certified H2 H1 ✓ G1 cert First FAA basis for-credit testing First flight of type-design FAA flight test, representative aircraft Type cert issued Scaled Production H1 H2 Phase 1 plant Production cert Announce comes online issued Phase 1 plant site First vehicle off Pilot line Go to Market/Commercialization H1 H2 H2 ✓ Announce Scaled DoD Commercial service DoD on-base FAA 135 cert launch markets on-base logistics launched flight testing achieved operations FAA 135 cert process begins 91 | Joby Aviation

Joby Investment Highlights A world class team with world class partners Vertically integrated approach Team of 800+ with deep aerospace, software, and Key parts designed and produced in-house. electrical engineering experience. 1000+ combined Production scaling supported by Toyota. Recurring 01 04 years of certification experience. World class partners revenue from operating aircraft delivers compelling supporting every step of the journey. economics, compounded by scale. Pragmatic approach to commercialization The best aircraft for the market Uber integration and Elevate acquisition deliver deep Zero operating emissions, 5 seats, 150 mile, 65dBA, customer insights and day 1 demand. Best-in-class designed to be certified and operated under existing 02 05 infrastructure partners provide access to prime regulations. locations in key markets. First mover advantage Strong financial foundation 1,000+ test flights completed. First and only eVTOL to Cash to support business through sign G-1 with FAA. First to achieve US Air Force commercialization. Staged investment approach 03 06 airworthiness. Being early drives strong network and provides flexibility. scale effects. Production Demand Pre-cert operations Testing Landing Infrastructure 92 | Joby AviationJoby Investment Highlights A world class team with world class partners Vertically integrated approach Team of 800+ with deep aerospace, software, and Key parts designed and produced in-house. electrical engineering experience. 1000+ combined Production scaling supported by Toyota. Recurring 01 04 years of certification experience. World class partners revenue from operating aircraft delivers compelling supporting every step of the journey. economics, compounded by scale. Pragmatic approach to commercialization The best aircraft for the market Uber integration and Elevate acquisition deliver deep Zero operating emissions, 5 seats, 150 mile, 65dBA, customer insights and day 1 demand. Best-in-class designed to be certified and operated under existing 02 05 infrastructure partners provide access to prime regulations. locations in key markets. First mover advantage Strong financial foundation 1,000+ test flights completed. First and only eVTOL to Cash to support business through sign G-1 with FAA. First to achieve US Air Force commercialization. Staged investment approach 03 06 airworthiness. Being early drives strong network and provides flexibility. scale effects. Production Demand Pre-cert operations Testing Landing Infrastructure 92 | Joby Aviation

Our mission is to save a billion people an hour, every day 93 93 | | Jo Job by y A Av viia at tiio on nOur mission is to save a billion people an hour, every day 93 93 | | Jo Job by y A Av viia at tiio on n

Thank you 94 94 | | Jo Job by y A Av viia at tiio on nThank you 94 94 | | Jo Job by y A Av viia at tiio on n

95 95 | | Jo Job by y A Av viia at tiio on n95 95 | | Jo Job by y A Av viia at tiio on n

Appendix 96 96 | | Jo Job by y A Av viia at tiio on nAppendix 96 96 | | Jo Job by y A Av viia at tiio on n

Historical Statement of Operations (In thousands, except share and per share data) Year Ended December 31 2020 2019 Operating expenses Research and development (including related party purchases of $1,249 and $1,341 $ 108,741 $ 70,178 for the years ended December 31, 2020 and 2019, respectively) Selling, general and administrative (including related party purchases of $220 and $200 for the years ended December 31, 2020 and 2019, respectively) 23,495 13,970 Total operating expenses 132,236 84,148 Loss from operations (132,236) (84,148) Interest income 5,428 1,937 Interest expense (249) (22,952) Loss from changes in fair value of derivative liabilities — (4,947) Convertible note extinguishment loss — (366) Gain on deconsolidation of subsidiary 6,904 — Income from equity method investment 5,799 — Other income, net 221 129 Total other income (expense), net 18,103 (26,199) Loss before income taxes (114,133) (110,347) Income tax expense 31 2 Net loss $ (114,164) $ (110,349) Net loss per share, basic and diluted $ (3.80) $ (4.11) Weighted-average common shares outstanding, basic and diluted 30,066,847 26,839,662 97 | Joby AviationHistorical Statement of Operations (In thousands, except share and per share data) Year Ended December 31 2020 2019 Operating expenses Research and development (including related party purchases of $1,249 and $1,341 $ 108,741 $ 70,178 for the years ended December 31, 2020 and 2019, respectively) Selling, general and administrative (including related party purchases of $220 and $200 for the years ended December 31, 2020 and 2019, respectively) 23,495 13,970 Total operating expenses 132,236 84,148 Loss from operations (132,236) (84,148) Interest income 5,428 1,937 Interest expense (249) (22,952) Loss from changes in fair value of derivative liabilities — (4,947) Convertible note extinguishment loss — (366) Gain on deconsolidation of subsidiary 6,904 — Income from equity method investment 5,799 — Other income, net 221 129 Total other income (expense), net 18,103 (26,199) Loss before income taxes (114,133) (110,347) Income tax expense 31 2 Net loss $ (114,164) $ (110,349) Net loss per share, basic and diluted $ (3.80) $ (4.11) Weighted-average common shares outstanding, basic and diluted 30,066,847 26,839,662 97 | Joby Aviation

Historical Consolidated Balance Sheet (In thousands, except share and per share data) Year Ended December 31 2020 2019 Assets Current assets Cash and cash equivalents $ 77,337 $ 507,176 Short-term investments 368,587 - Other receivables 2,227 80 Prepaid expenses and other current assets 3,032 4,455 Total current assets 451,183 511,711 Property and equipment, net 34,126 22,219 Restricted cash 693 693 Equity method investment 10,990 - Other non-current assets 262 180 Total assets $ 497,254 $ 534,803 Liabilities, redeemable convertible preferred stock and stockholders' deficit Current liabilities Accounts payable $ 4,928 $ 6,072 Tenant improvement loan, current portion 244 383 Capital lease, current portion 792 880 Deferred rent, current portion 295 209 Accrued expenses and other current liabilities 1,746 737 Total current liabilities 8,005 8,281 Tenant improvement loan, net of current portion 946 1,190 Capital lease, net of current portion 661 1,199 Deferred rent, net of current portion 1,321 1,617 Early exercise stock option liabilities 1,177 1,257 Total liabilities 12,110 13,544 Redeemable convertible preferred stock: $0.00001 par value — 105,500,526 shares authorized at December 31, 2020 and 2019, 96,252,623 shares and 92,613,015 shares issued and outstanding at 768,312 698,452 December 31, 2020 and 2019, respectively (Cumulative liquidation preference $769,679 and $699,179 at December 31, 2020 and 2019, respectively) Stockholders' deficit Common stock: $0.00001 par value — 149,793,455 shares authorized at December 31, 2020 and 2019, 35,305,759 and 35,154,952 shares issued and outstanding at December 31, 2020 and 2019, respectively - - Additional paid-in capital 12,591 4,957 Accumulated deficit (296,286) (182,122) Accumulated other comprehensive income (loss) 527 (28) Total stockholders' deficit (283,168) (177,193) Total liabilities, redeemable convertible preferred stock, and stockholders' deficit $ 497,254 $ 534,803 98 | Joby AviationHistorical Consolidated Balance Sheet (In thousands, except share and per share data) Year Ended December 31 2020 2019 Assets Current assets Cash and cash equivalents $ 77,337 $ 507,176 Short-term investments 368,587 - Other receivables 2,227 80 Prepaid expenses and other current assets 3,032 4,455 Total current assets 451,183 511,711 Property and equipment, net 34,126 22,219 Restricted cash 693 693 Equity method investment 10,990 - Other non-current assets 262 180 Total assets $ 497,254 $ 534,803 Liabilities, redeemable convertible preferred stock and stockholders' deficit Current liabilities Accounts payable $ 4,928 $ 6,072 Tenant improvement loan, current portion 244 383 Capital lease, current portion 792 880 Deferred rent, current portion 295 209 Accrued expenses and other current liabilities 1,746 737 Total current liabilities 8,005 8,281 Tenant improvement loan, net of current portion 946 1,190 Capital lease, net of current portion 661 1,199 Deferred rent, net of current portion 1,321 1,617 Early exercise stock option liabilities 1,177 1,257 Total liabilities 12,110 13,544 Redeemable convertible preferred stock: $0.00001 par value — 105,500,526 shares authorized at December 31, 2020 and 2019, 96,252,623 shares and 92,613,015 shares issued and outstanding at 768,312 698,452 December 31, 2020 and 2019, respectively (Cumulative liquidation preference $769,679 and $699,179 at December 31, 2020 and 2019, respectively) Stockholders' deficit Common stock: $0.00001 par value — 149,793,455 shares authorized at December 31, 2020 and 2019, 35,305,759 and 35,154,952 shares issued and outstanding at December 31, 2020 and 2019, respectively - - Additional paid-in capital 12,591 4,957 Accumulated deficit (296,286) (182,122) Accumulated other comprehensive income (loss) 527 (28) Total stockholders' deficit (283,168) (177,193) Total liabilities, redeemable convertible preferred stock, and stockholders' deficit $ 497,254 $ 534,803 98 | Joby Aviation

Historical Consolidated Statement of Cash Flows (In thousands) Year Ended December 31 2020 2019 Cash flows from operating activities Net loss $ (114,164) $ (110,349) Reconciliation of net loss to net cash used in operating activities: Depreciation and amortization expense 7,404 3,985 Non-cash interest expense related to convertible notes — 22,823 Loss from change in the fair value of derivative liabilities — 4,947 Convertible note extinguishment loss — 366 Stock-based compensation expense 7,185 3,906 Income from equity method investment (5,799) — Gain on deconsolidation of subsidiary (6,904) — Net accretion and amortization of investments in marketable debt securities 1,179 — Changes in operating assets and liabilities Other receivables (4,524) (58) Prepaid expenses and other current assets 1,423 (4,215) Other non-current assets (82) (68) Accounts payable 3,260 1,204 Accrued expenses and other current liabilities 5,332 625 Deferred rent (210) 597 Net cash used in operating activities (105,900) (76,237) Cash flows from investing activities Purchase of marketable debt securities (620,781) — Proceeds from sales of marketable debt securities 28,660 — Proceeds from maturities of marketable debt securities 222,675 — Purchases of property and equipment (23,306) (9,240) Disposal of cash on deconsolidation upon loss of control over the fully owned subsidiary (407) — Net cash used in investing activities (393,159) (9,240) Cash flows from financing activities Proceeds from issuance of Series C redeemable convertible preferred stock, net 69,860 454,260 Proceeds from issuance of convertible notes — 12,267 Proceeds from exercise of stock options and stock purchase rights 369 1,376 Proceeds from tenant improvement loan — 1,056 Repayments of tenant improvement loan (383) — Payments on capital lease obligation (626) (549) Net cash provided by financing activities 69,220 468,410 Net change in cash, cash equivalents and restricted cash (429,839) 382,933 99 | Joby AviationHistorical Consolidated Statement of Cash Flows (In thousands) Year Ended December 31 2020 2019 Cash flows from operating activities Net loss $ (114,164) $ (110,349) Reconciliation of net loss to net cash used in operating activities: Depreciation and amortization expense 7,404 3,985 Non-cash interest expense related to convertible notes — 22,823 Loss from change in the fair value of derivative liabilities — 4,947 Convertible note extinguishment loss — 366 Stock-based compensation expense 7,185 3,906 Income from equity method investment (5,799) — Gain on deconsolidation of subsidiary (6,904) — Net accretion and amortization of investments in marketable debt securities 1,179 — Changes in operating assets and liabilities Other receivables (4,524) (58) Prepaid expenses and other current assets 1,423 (4,215) Other non-current assets (82) (68) Accounts payable 3,260 1,204 Accrued expenses and other current liabilities 5,332 625 Deferred rent (210) 597 Net cash used in operating activities (105,900) (76,237) Cash flows from investing activities Purchase of marketable debt securities (620,781) — Proceeds from sales of marketable debt securities 28,660 — Proceeds from maturities of marketable debt securities 222,675 — Purchases of property and equipment (23,306) (9,240) Disposal of cash on deconsolidation upon loss of control over the fully owned subsidiary (407) — Net cash used in investing activities (393,159) (9,240) Cash flows from financing activities Proceeds from issuance of Series C redeemable convertible preferred stock, net 69,860 454,260 Proceeds from issuance of convertible notes — 12,267 Proceeds from exercise of stock options and stock purchase rights 369 1,376 Proceeds from tenant improvement loan — 1,056 Repayments of tenant improvement loan (383) — Payments on capital lease obligation (626) (549) Net cash provided by financing activities 69,220 468,410 Net change in cash, cash equivalents and restricted cash (429,839) 382,933 99 | Joby Aviation

Faster speeds unlock higher gross bookings Revenue at 1 passenger Additional revenue at 2.3 load factor 20 mile trip at 30 mph on average, $3,000,000 charged at $1.75 per passenger mile $2,468,130 $2,500,000 20 mile trip at 140 mph, charged at $2,000,000 $3.00 per passenger mile $1,395,030 $1,500,000 Charging on a per seat basis rather than per trip basis increases upside $1,000,000 even further $1,073,100 $500,000 $229,950 $0 Rideshare Auto Joby Aircraft 100 | Joby AviationFaster speeds unlock higher gross bookings Revenue at 1 passenger Additional revenue at 2.3 load factor 20 mile trip at 30 mph on average, $3,000,000 charged at $1.75 per passenger mile $2,468,130 $2,500,000 20 mile trip at 140 mph, charged at $2,000,000 $3.00 per passenger mile $1,395,030 $1,500,000 Charging on a per seat basis rather than per trip basis increases upside $1,000,000 even further $1,073,100 $500,000 $229,950 $0 Rideshare Auto Joby Aircraft 100 | Joby Aviation