Wheels Up approves 1-for-20 reverse stock split to regain NYSE compliance

Wheels Up Experience Inc.

• Board approved Reverse Stock Split at ratio of 1-for-20; effective after NYSE close on April 24, 2026.
• Outstanding shares reduced from ~725M to ~36M; authorized shares cut from 1.5B to 75M.
• Company expects to regain NYSE listing compliance and qualify for Russell 3000 inclusion.
• Warrants adjusted: each warrant becomes exercisable for 1/200th of a share at $2,300.00 per whole share.
• Fractional shares settled in cash at closing price on effective date; no change to ticker symbol 'UP'.