Joby Aviation, Inc.

Current report

In addition to the other information set forth in this Form 10-Q, including in the Forward-Looking Statements, MD&A, and the Consolidated Condensed Financial Statements and accompanying notes, we have provided an additional risk factor below regarding uncertainties surrounding global trade policies and the impact they could have on our financial results.

Current report

Current and future litigation may have an adverse impact on our business.

Current report

We are currently involved in litigation, as described above in Part II, Item 1 “Legal Proceedings.” Even if we ultimately prevail on the merits, litigation can be costly, time consuming, and can divert management’s attention from other priorities. If the counterparties to such litigation prevail on their claims, we may be required to pay financial penalties or may be subject to injunctive relief, both of which may materially harm our business, financial condition and prospects. In particular, injunctive relief that prevents importing components of our aircraft or invalidates our intellectual property could require us to redesign certain aspects of our aircraft, which could result in delays to our certification and launch timelines.

Current report

We currently have subsidiaries located outside of the United States and plans for international operations in the future, which could subject us to political, operational and regulatory challenges.

Current report

While our primary operations are in the United States, we have established relationships with subsidiaries, suppliers, and potential partners in select international markets. In addition, we currently have subsidiaries engaged in limited test manufacturing, R&D and other activities in foreign countries. We have also begun working with regulators in other countries, including the United Kingdom, Japan, South Korea, Australia and the UAE to pursue commercialization opportunities in those markets and have signed contracts with potential partners in each of these markets under which we make various commitments related to early operations. While foreign certification in many countries leverages our work with the FAA and in some cases, such as the UAE, may also provide a path to commercial operations prior to receiving certification in the United States, applicable regulations outside the U.S. may differ from or be more stringent than analogous U.S. regulations.

Current report

International operations are subject to a number of additional risks, including local political or economic instability, cross-border political tensions, global tariffs, challenges in effectively managing employees in foreign jurisdictions, including local labor laws that may be stricter or more costly to comply with than in the U.S., and exposure to potential liabilities under anti-corruption or anti-bribery laws, including the U.S. Foreign Corrupt Practices Act, the UK Bribery Act and similar laws and regulations. Specifically, recent military actions in the Middle East could impact our operations in Dubai by threatening key infrastructure, creating shifting priorities, impacting consumer demand for our proposed service, or as a result of other unforeseen challenges or consequences. If any of these risks materialize it could adversely impact our business, financial condition and results of operations.