Blade Air Mobility Inc

Entry into a Material Definitive Agreement

On March 11, 2024, Blade entered into definitive agreements to acquire eight fixed-wing aircraft (the “Acquired Aircraft”) from M&N Equipment, LLC (“M&N”), Atlas Jet Inc. and Aviation Bridge, LLC for a combined purchase price of approximately $21.0 million, funded by the application of $9.3 million in existing prepaid deposits under existing Capacity Purchase Agreements with M&N, and approximately $11.7 million in cash, subject to traditional closing conditions, inspections, holdbacks and adjustments. Blade intends to utilize the Acquired Aircraft, which were previously dedicated to Blade under existing Capacity Purchase Agreements, to support its Medical business line. The Acquired Aircraft will continue to be operated by M&N, subject to the execution of aircraft management and operation agreements.

Rule 10b5-1 Trading Plans

Theadoption ortermination of contracts, instructions or written plans for the purchase or sale of our securities by our Section 16 officers and directors for the three months ended December 31, 2023, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act (“Rule 10b5-1 Plan”), were as follows:

On December 14, 2023, Robert S. Wiesenthal, our Chief Executive Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of up to 250,000 shares of common stock. The duration of the trading arrangement is until February 28, 2025 or earlier if all transactions under the trading arrangement are completed.

On December 14, 2023, Melissa M. Tomkiel, our President and General Counsel, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of up to 243,895 shares of common stock. The duration of the trading arrangement is until February 28, 2025 or earlier if all transactions under the trading arrangement are completed.

On December 14, 2023, William A. Heyburn, our Chief Financial Officer and Head of Corporate Development, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of up to 300,000 shares of common stock. The duration of the trading arrangement is until February 28, 2025 or earlier if all transactions under the trading arrangement are completed.

On March 8, 2024, the Compensation Committee granted Performance-Based Restricted Stock Units (“PSUs”) to our named executive officers under the Company’s 2021 Omnibus Incentive Plan (the “Plan”) as described below.

The PSUs will vest subject to the achievement of certain financial performance metrics by the Company. Each PSU represents the right to receive one share of the Company’s common stock.