JOBY

Interest Rate Risk We are exposed to market risk for changes in interest rates applicable to our short-term investments. We had cash, cash equivalents, restricted cash and investments in short-term marketable securities totaling $2,270.0 million as of June 30, 2026. Cash equivalents and short-term investments were invested primarily in money market funds, U.S. treasury bills and government and corporate bonds. Our investment policy is focused on the preservation of capital and supporting our liquidity needs. Under the policy, we invest in highly rated securities, issued by the U.S. government and corporations or liquid money market funds. We do not invest in financial instruments for trading or speculative purposes, nor do we use leveraged financial instruments. We utilize external investment managers who adhere to the guidelines of their investment policies. A hypothetical 10% change in interest rates would not have a material impact on the value of our cash, cash equivalents or short-term investments or our interest income. Foreign Currency Risk We are not exposed to significant foreign currency risks related to our operating expenses as our foreign operations are not material to our Condensed Consolidated Financial Statements.

• Joby filed a California state-court complaint against Archer and George Kivork for breach of contract, trade-secret misappropriation, and interference, seeking damages, disgorgement, and injunctive relief.
• The case was removed to federal court in Northern California; the court partially dismissed Joby's claims and fully dismissed Archer's counterclaims with leave to amend, and amended pleadings have since been filed.
• Archer filed a Section 337 complaint with the ITC seeking an exclusion order to block Joby from importing electric aircraft and components that allegedly infringe five Archer patents.
• The ITC instituted an investigation in April 2026; fact discovery runs through late September 2026, with an evidentiary hearing in January 2027 and a final ITC decision expected by September 14, 2027.
• Management believes that resolving these claims will not have a material adverse impact, but acknowledges that an unfavorable outcome could materially affect financial position, results, or cash flows if it becomes reasonably estimable.

Our business, prospects, financial condition, operating results and the price of our common stock may be affected by a number of factors, whether currently known or unknown, including but not limited to those described as risk factors, any one or more of which could, directly or indirectly, cause our actual operating results and financial condition to vary materially from past, or anticipated future, operating results and financial condition. For a more comprehensive discussion of the risks and uncertainties that could impact the Company’s business, please see the section entitled “Risk Factors” in the Company’s annual report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 27, 2026 and the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2026 filed with the SEC on May 6, 2026. Any of these factors, in whole or in part, as well as other risks not currently known to us or that we currently consider immaterial, could materially and adversely affect our business, prospects, financial condition, operating results and the price of our common stock.