Blade Urban Air Mobility, Inc. entered into a letter of intent to acquire Experience Investment Corp. (NasdaqCM:EXPC) from KSL Advisors, LLC and others for approximately $360 million in a reverse merger transaction on October 6, 2020. On November 13, 2020, KSL and Blade executed an amendment to the letter of intent, which extended the exclusivity period from October 30, 2020 to December 11, 2020. Blade Urban Air Mobility, Inc. signed a definitive business combination agreement to acquire Experience Investment Corp. (NasdaqCM:EXPC) from KSL Advisors, LLC and others in a reverse merger transaction on December 14, 2020. Pursuant to the transaction, Experience Investment Corp. will combine with Blade with Experience Investment Corp issuing 35.6 million shares of its common stock. Assuming no redemptions by Experience Investment Corp. stockholders, Blade's equity holders immediately prior to closing are expected to hold approximately 43.2% of the issued and outstanding shares of common stock of the combined company immediately following the closing of the business combination, Experience Investment Corp. shareholders will own 33.3%. Blade's existing shareholder base including Airbus, Lerer Hippeau, Raine Ventures, LionTree Ventures, Barry Diller, David Zaslav and Eric Schmidt will retain 100% of their equity in the combined company through the transaction. Concurrently with the execution and delivery of the agreement, certain accredited investors entered into subscription agreements (the “PIPE Subscription Agreements”) pursuant to which they have committed to purchase 12.5 million shares of Experience Investment Corp common stock at a purchase price per share of $10 and an aggregate purchase price of $125 million. Experience Investment Corp. will change its name to Blade Urban Air Mobility. Upon closing of the transaction, the combined operating company is expected to continue to be listed on NASDAQ under the ticker symbol “BLDE.”. EIC Class A common stock and Public Warrants will begin trading on the Nasdaq under the symbols “BLDE” and “BLDEW” respectively. Upon completion of the transaction, the combined company will include Robert S. Wiesenthal will serve as Chief Executive Officer and Director, William A. Heyburn will serve as Chief Financial Officer and Head of Corporate Development, Melissa M. Tomkiel will serve as President and General Counsel, Brandon Keene will serve as Chief Technology Officer, Sean Grennan will serve as Chief Accounting Officer, Eric Affeldt will serve as Chairman of the Board. The Directors of the combined company will include Jane Garvey, Kenneth Lerer, Susan Lyne, Edward Philip and David Zaslav.

Completion of the proposed transaction is subject to regulatory approval, approval of Experience Investment Corp. and Blade's stockholders, the applicable waiting period(s) pursuant to the Hart- Scott- Rodino Antitrust Improvements Act of 1976, as amended, shall have expired or been terminated, Experience Investment Corp shall have at least $5,000,001 of net tangible assets immediately following the closing, the Registration Statement shall have become effective and no stop- order suspending effectiveness of the Registration Statement shall be in effect, the Experience Investment Corp common stock to be issued in connection with the transactions shall have been approved for listing on Nasdaq or NYSE, taking into account the PIPE Investment and after giving effect to exercise by the holders of Experience Investment common stock of their right to redeem the stock, Experience Investment shall have, on a consolidated basis, at least $100 million in cash and cash equivalents, The Certificate of Incorporation shall be amended and restated in the form of Experience Investment A&R Charter, The Sponsor Letter Agreement and Investor Rights Agreement shall be in full force and effect and other customary closing conditions. The Boards of Directors of both Blade and Experience Investment Corp. have unanimously approved the proposed transaction. Experience Investment Corp Board recommended that its stockholders adopt the merger agreement and approve the merger. Certain Blade stockholders that collectively hold 58.83% of the issued and outstanding shares of Blade Preferred Stock and 58.06% of the issued and outstanding shares of Blade Stock delivered Support Agreements, pursuant to which, such Blade stockholders agreed to irrevocably and unconditionally execute a written consent in respect of 20.1 million shares of Blade Stock held by such Blade stockholders to adopt and approve the agreement. On January 6, 2021, Experience Investment entered into a letter agreement (the “HSR Waiver Letter”) with BLADE Urban, pursuant to which the parties thereto waived certain requirements under the Agreement and Plan of Merger. Pursuant to the HSR Waiver Letter, Experience Investment and Blade agreed to waive (a) any requirements to make filings under the HSR Act pursuant to Section 6.04 of the Merger Agreement and (b) the expiration or termination of the waiting period under the HSR Act as a condition to their obligations to consummate the transactions under the Merger Agreement, in each case for so long as Blade does not satisfy the “size of person” test under the HSR Act. The special meeting of stockholders of Experience Investment will be held on May 5, 2021. On May 5, 2021, Experience Investment shareholders approved the transaction. Based on the most recent regularly- prepared balance sheet of Blade furnished to Experience Investment, Blade would not satisfy the “size of person” test to make a filing under the HSR Act. The transaction is expected to be completed in the first half of 2021. As of May 5, 2021, the transaction is expected to close on or about May 7, 2021.

Credit Suisse Securities (USA) LLC is serving as the exclusive financial and capital markets advisor to Blade. Deutsche Bank Securities is serving as lead capital markets and exclusive financial advisor to Experience Investment Corp., with Citibank and J.P. Morgan acting as joint capital markets advisors. Credit Suisse and Deutsche Bank Securities are also acting as lead placement agents on the private offering, with Citibank and J.P. Morgan acting as joint placement agents. Lauren Boglivi, Richard Corn, Dan Forman, Jeff Horwitz, Harris Mufson, Seth Safra, and Karen Garnett of Proskauer Rose LLP are serving as legal advisors to Blade, and Michael Wolfson, Bill Brentani, Ryan Coombs, Jonathan Goldstein, Lori Lesser, Tristan Brown, Krista McManus, Peter Guryan, Kelly Karapetyan and Ben Schaye of Simpson Thacher & Bartlett LLP are serving as legal advisors to Experience Investment Corp. Morrow & Co., LLC acted as proxy solicitor to Experience Investment Corp. David M. Hernand of Paul Hastings LLP acted as legal advisor to Colony Capital, a shareholder of Blade. American Stock Transfer & Trust Company, LLC acted as the depository bank to Experience Investment Corp. EIC has hired Morrow Sodali to assist in the proxy solicitation process. EIC will pay that firm a fee of $30,000 plus disbursements. Marcum LLP provided auditor's report on financials of Blade.

Blade Urban Air Mobility, Inc. completed the acquisition of Experience Investment Corp. (NasdaqCM:EXPC) from KSL Advisors, LLC and others in a reverse merger transaction on May 6, 2021. The common stock and warrants are expected to commence trading on May 10, 2021 on the NASDAQ under the new ticker symbols “BLDE” and “BLDEW,” respectively. John Borthwick and Justin Chang resigned as directors of the Blade Urban Air Mobility on closing of the transaction and Kenneth Lerer and Robert S. Wiesenthal are continuing to serve as a directors. On May 7, 2021, the Board appointed Amir Cohen as Chief Accounting Officer of Blade Urban Air Mobility. Each of Robert S. Wiesenthal, Chief Executive Officer, Melissa M. Tomkiel, President and General Counsel, William A. Heyburn, Chief Financial Officer and Brandon Keene, Chief Technology Officer, remained as executive officers of combined entity after consummation of the merger.