Wheels Up Receives NYSE Continued Listing Standard Notice (Form 8-K)

Wheels Up Receives NYSE Continued Listing Standard Notice

ATLANTA - Dec. 19, 2025 - Wheels Up Experience Inc. (NYSE: UP) ("Wheels Up") today announced that it received a notice from the New York Stock Exchange ("NYSE") on December 17, 2025 stating that the average closing price per share of its common stock did not equal at least $1.00 over a consecutive 30 trading-day period, which is required for continued listing on the NYSE.

Wheels Up remains committed to execution of its multi-year business transformation, including advancing its fleet transition to Bombardier Challenger 300 series and Embraer Phenom 300 series jets, its previously announced efficiency, productivity and overhead cost reduction actions expected to deliver approximately $70 million of annualized run-rate cost savings upon completion beginning in mid-2026, and leveraging its first-of-its-kind partnership with Delta to deliver premium solutions for every customer journey. Receipt of the NYSE notice does not affect Wheels Up's plans to execute its strategic initiatives, its objective to build a resilient business model to support sustainable future profitability, or its ability to serve its members and customers.

The NYSE's notice has no immediate effect on the listing of Wheels Up's common stock on the NYSE, which will continue to be listed and trade on the NYSE under the symbol "UP", subject to Wheels Up's compliance with the other NYSE continued listing standards. Wheels Up has six months from receipt of the NYSE's notice to regain compliance with the minimum share price requirement and may consider various available options to regain compliance. Wheels Up's stockholders previously authorized Wheels Up's Board of Directors to complete a reverse stock split with respect to the common stock any time prior to the company's 2026 annual meeting of stockholders, subject to certain conditions. Unless Wheels Up otherwise regains compliance with the minimum price requirement through other available methods, it intends to regain compliance with the NYSE's listing standards by completing a reverse stock split with sufficient time before the end of the six-month cure period to cure the noted deficiency. Any potential reverse stock split would require the approval of the Board of Directors and be publicly announced by the company following any such approval. The Board of Directors has not approved a reverse stock split as of the date of this press release.

About Wheels Up

Wheels Up is a leading provider of on-demand private aviation in the U.S. with a large, diverse fleet and a global network of safety-vetted charter operators, all committed to safety and service. Customers access charter and membership programs and commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also provides cargo services to a range of clients, including individuals and government organizations. With the Wheels Up app and website, members can easily search, book, and fly. For more information, visit www.wheelsup.com.