Atlas Crest / Archer Aviation Merger Settlement: How to Claim

Who is included in the settlement, and who can seek a payment?

• The settlement class covers record and beneficial holders of Atlas Crest Class A Common Stock who held it on September 10, 2021 and chose not to redeem all or some of their shares. Certain people and entities connected to defendants are excluded.
• For a payment, you must have held the shares immediately after the deadline and those shares must not have been submitted for redemption in connection with the merger.

What do I need to do to request money?

• Submit a valid Proof of Claim to the Settlement Administrator online or by mail. It must be submitted online or received by mail by January 4, 2027.
• The notice says the claim form is attached, but the supplied notice text does not include the attachment. It therefore does not identify the particular transaction records needed to complete the form.

How will a payment amount be worked out?

• The proposed cash settlement is $15 million. The amount available for claims will be lower or higher than that figure after interest and deductions for taxes, notice and administration costs, Court-awarded fees and expenses, and other Court-approved costs.
• Each eligible claimant’s payment is based on that claimant’s Total Loss compared with all eligible claimants’ Total Losses. A calculated payment below $10 will not be paid.
• The notice does not promise a particular payment amount.

How does the proposed plan calculate Total Loss?

• For an eligible share sold after September 10, 2021 and before the close of trading on May 16, 2024, a loss is generally based on the difference between $10.00 and the sale price if the share sold below $10.00, plus $0.10. A share sold for $10.00 or more receives the $0.10 nominal amount.
• For an eligible share still held at the close of trading on May 16, 2024, the proposed calculation is $6.19 plus $0.10 per share.
• Shares redeemed in connection with the merger receive no Total Loss calculation.

Can I exclude myself from this settlement?

• No. This is a non-opt-out class, meaning class members cannot leave the settlement.
• A class member who does not file a timely valid claim may not receive money, but can still be bound by the settlement.

What rights would I give up if the settlement is approved?

• If the Court approves the settlement, claims against the defendants in this case will be dismissed with prejudice. In practical terms, class members will generally give up the covered claims connected to the merger, the proxy and related disclosures, and the alleged impairment of redemption rights.
• The release does not include claims to enforce the settlement agreement.

How can I object to the settlement or the proposed fees?

• You may send a written objection about the settlement, the proposed allocation plan, or the requested attorneys’ fees and expenses. It must be received by November 17, 2026.
• The objection must identify the case, provide the objector’s contact information, be signed, explain the specific reasons for the objection, and include documents showing class membership. The notice specifies monthly brokerage statements or an authorized broker statement with account-statement transaction and holding information.
• You can object in writing without attending the hearing.

Do I need to attend the settlement hearing?

• The hearing is scheduled for December 3, 2026, at 11:00 a.m. It may be held in person in Wilmington, Delaware, or remotely, at the Court’s discretion.
• You do not need to attend to seek a payment or to have a properly submitted written objection considered. The hearing date, time, and format may change.

How could attorneys’ fees affect the fund?

• Plaintiffs’ counsel plan to ask the Court for attorneys’ fees of no more than 20% of the $15 million settlement amount, plus litigation expenses. The Court decides whether and how much to award.
• Any fee and expense award comes from the settlement fund, not directly from class members. The lawyers may also request service awards of up to $2,500 for each named plaintiff, paid from any fee and expense award.

When would payments be sent?

• Payment cannot be distributed unless the Court approves both the settlement and an allocation plan, and the time to seek rehearing, appeal, or review has ended.
• The notice says distributions are made after claims have been processed and the Court has finally approved the settlement. It does not give a calendar date for payments.