DUBAI, United Arab Emirates, November 20, 2025 — The Helicopter Company (THC), a Public Investment Fund (PIF) company and Saudi Arabia’s premier commercial helicopter operator, has signed an agreement at this year’s Dubai Airshow with Archer Aviation Inc. (NYSE: ACHR), a U.S.-based aerospace innovator designing and developing the key enabling technologies and aircraft necessary to power the future of aviation and Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA. The partnership will focus on the development, testing, and potential integration of Archer’s eVTOL aircraft into RSG’s operations as one of the first deployments of eVTOL aircraft in the Kingdom of Saudi Arabia.

The signing marks a major step forward in the Kingdom’s efforts to explore and integrate electric Vertical Takeoff and Landing (eVTOL) aircraft into its emerging mobility ecosystem. The Memorandum of Understanding (MoU) was signed by Captain Arnaud Martinez, CEO of THC, John Pagano, Group CEO of Red Sea Global, and Nikhil Goel, Chief Commercial Officer of Archer Aviation.

In the initial phase of the agreement, Archer Aviation will work together with THC and RSG to help build the foundational framework for their planned eVTOL operations in Saudi Arabia. This includes establishing a structured sandbox environment to conduct test flights with Archer’s Midnight eVTOL under real-world conditions to assess aircraft performance, operational feasibility, regulatory alignment, passenger acceptance, and overall ecosystem readiness. They will also collaborate on testing advanced aerial technologies, exploring long-term strategic partnerships for large-scale deployment, and supporting regional innovation to advance next-generation aviation systems.

As the framework progresses, RSG will lead the sandbox testing with Archer’s Midnight aircraft to evaluate the potential for integrating eVTOL aircraft into the company’s future operations. Given RSG’s controlled airspace, sustainable infrastructure, and its position as a flagship developer under PIF, it offers a suitable platform to demonstrate the potential of advanced air mobility in supporting regenerative tourism and next-generation transportation options for the Kingdom.

“eVTOL is emerging as the future of urban passenger transportation, and with the right partners, we are glad to be a key part of ensuring that Saudi Arabia is at the forefront of this transformation in aviation,” said Captain Arnaud Martinez, the CEO of THC. “Our partnership demonstrates confidence in emerging technologies, and a shared commitment to shaping a smarter, more connected tomorrow, together.”

John Pagano, Group CEO of Red Sea Global, stated, “At Red Sea Global, we are committed to redefining sustainable travel and setting new standards for innovation within the Kingdom’s tourism and mobility sectors. Partnering with THC and Archer to explore the integration of eVTOL aircraft into our destinations aligns perfectly with our vision for regenerative tourism, creating cleaner, faster, and more connected ways for guests to experience the beauty of Saudi Arabia.”

Archer Aviation’s founder and CEO, Adam Goldstein commented, “A key part of Archer’s strategy is partnering with the leading operators in each country who share our goals and vision, and both THC and RSG are similarly committed to ensuring that Saudi Arabia is operationally prepared to launch eVTOL aircraft. We look forward to working together to demonstrate how Archer’s Midnight aircraft can transform travel within the Kingdom and set a regional benchmark for the future of aviation.”

Following the completion of the sandbox program, all parties will review the results and consider further initiatives to support large scale introduction of eVTOL services.

This partnership represents a significant milestone in Saudi Arabia’s journey toward sustainable, next-generation aviation, paving the way for cleaner, faster, and more connected modes of transport that align with the ambitions of Vision 2030.