Joby To Acquire 728,000 Sq. Ft. Vandalia, Ohio Property For $61.5M

On January 7, 2026, Joby Aero, Inc., a wholly-owned subsidiary of Joby Aviation, Inc., (the "Company") entered into a Purchase and Sale Agreement (the "Agreement") with Capstone STS, LLC, a Texas limited liability company ("Seller"). Pursuant to the terms of the Agreement, the Company agreed to purchase certain real property, improvements and other assets (the "Property") from the Seller for a purchase price of $61,500,000 (the "Purchase Price"). The Property consists of approximately 728,000 square feet located at 1669 Capstone Way, Vandalia, Ohio.

Under the Agreement, the Company will deposit $1,000,000 in escrow (the "Deposit"). The Company's obligation to purchase the Property is conditioned upon, among other things, (i) the Company's review and approval of certain diligence related to the title to the Property and (ii) Seller, or its lending affiliate, being prepared to fund, simultaneous with the closing, a portion of the Purchase Price in accordance with the terms agreed to by the parties.

The Company may terminate the Agreement due to title report objections prior to January 15, 2026. The closing of the transaction (the "Closing") will occur no later than February 27, 2026. If the Closing does not occur because the Company terminates the agreement due to a title report objection, a material breach of the Seller's obligations or a condemnation, or damage or destruction of the Property prior to Closing, the Deposit will be returned to the Company. If the Closing does not occur for any other reason, the Deposit will be paid to the Seller as liquidated damages.