Corporate Action Form 8 K

Item 3.03 Material Modification to Rights of Security Holders.

On August 16, 2024, Surf Air Mobility Inc. (the "Company") filed an amendment to the amended and restated certificate of incorporation of the Company (the "Stock Split Amendment") with the Secretary of State of the State of Delaware to effect a reverse stock split of the Company's outstanding shares of common stock, par value $0.0001 per share (the "Common Stock"), at a ratio of 1-for-7 (the "Reverse Stock Split"). The shares of Common Stock listed on the New York Stock Exchange commenced trading on the New York Stock Exchange on a post-Reverse Stock Split adjusted basis at the open of business on August 19, 2024, at which time the Common Stock was represented by a new CUSIP number, 868927203.

At the 2024 annual meeting of the Company's stockholders held on June 25, 2024, the Company's stockholders approved the adoption of an amendment to the Company's amended and restated certificate of incorporation, to effect a reverse stock split at a ratio of not less than 1-for-2 and not more than 1-for-10, such ratio and the implementation and timing of such reverse stock split to be determined in the discretion of the Board of Directors of the Company (the "Board") at any time prior to December 31, 2024 with no change to the number of authorized shares.

On August 8, 2024, the Board approved the Reverse Stock Split. As a result of the Reverse Stock Split, the number of issued and outstanding shares of Common Stock immediately prior to the Reverse Stock Split was reduced to a smaller number of shares, such that every seven shares of Common Stock held by a stockholder immediately prior to the Reverse Stock Split were combined and reclassified into one share of Common Stock. Immediately following the Reverse Stock Split there were approximately 12,826,529 shares of Common Stock outstanding.

No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole number, and each stockholder who would otherwise be entitled to a fraction of a share of Common Stock upon the Reverse Stock Split (after aggregating all fractions of a share to which such stockholder would otherwise be entitled) was, in lieu thereof, entitled to receive a cash payment determined by multiplying the closing trading price per share of the Common Stock (as adjusted for the Reverse Stock Split) on the New York Stock Exchange on the trading day immediately preceding the effective time of the Reverse Stock Split, by the fraction of a share of Common Stock to which each stockholder would otherwise be entitled.

The foregoing description of the Stock Split Amendment is not complete and is subject to and qualified in its entirety by reference to the Stock Split Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.