Slide 1: Fourth Quarter 2022 Earnings Release
FOURTH QUARTER EARNINGS RELEASE Fourth Quarter 2022 Earnings Release February 22, 2023 LUCID GROUP, INC.
Slide 2: Forward Looking Statements, Trademarks, Non-GAAP Financial Measures
FOURTH QUARTER EARNINGS RELEASE Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of word
Slide 3: Contents
FOURTH QUARTER EARNINGS RELEASE Contents Mission 4 A Year in Review 5 Lucid Core Strengths 6 Lucid Air - Leading Technology Across the Model Line 7 Vertically Integrated Production 9 Studio and Service Network 10 Track Record of Prudent Liquidity Management 11 Financial Highlights 12 Outlook 13 Imag
Slide 4: Lucid's mission
FOURTH QUARTER EARNINGS RELEASE Lucid’s mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. LUCID GROUP, INC. 4
Slide 5: A Year In Review
FOURTH QUARTER EARNINGS RELEASE A Year In Review We achieved record production in Q4 and 2022, demonstrating our ability to overcome significant challenges throughout the year. We fulfilled our promise to KEY STATISTICS deliver Air variants across a spectrum of range & performance and delivered our
Slide 6: Lucid, a Leader in EV Technologies, Defines a New Generation of EVs
FOURTH QUARTER EARNINGS RELEASE Lucid, a Leader in EV technologies, Defines a New Generation of EVs 1 Established & Widely Recognized Technology 6 Technology Vertical Integration Innovative, validated, and race-proven technologies outpace Our world-class EV powertrain is only possible because we pee
Slide 7: Leading Technology Across the Model Line
FOURTH QUARTER EARNINGS RELEASE Leading Technology Across the Model Line Pure Touring Grand Touring Lucid’s approach to The heart of the Lucid Air family, Industry-leading range, supercar innovation distilled into its with an extraordinary fusion of acceleration, and luxurious space most elemental f
Slide 8: The Lucid Air is head and shoulders above a Tesla Model S
FOURTH QUARTER EARNINGS RELEASE “The Lucid Air is head and shoulders above a Tesla Model S” Lucid Motors CEO unveils new Lucid Air Pure electric luxury sedan Streamlined Lucid Air is an Electric Rocketship Lucid Air Grand Touring review: a dream made real Have EV Range Anxiety? Lucid Air Is the Only
Slide 9: Vertically Integrated Production
FOURTH QUARTER EARNINGS RELEASE Vertically Integrated Production Lucid's core EV technology is not only created in-house, but also manufactured at LPM-1, Lucid's dedicated EV powertrain factory in Arizona, where Lucid produces its own electric motors, transmission systems, power electronic inverters
Slide 10: Lucid Studio and Service Network
FOURTH QUARTER EARNINGS RELEASE Lucid Studio and Service Network Lucid's direct-to-consumer sales approach offers an Q4 2022 SALES & SERVICE HIGHLIGHTS exceptional customer experience from discovery, intrigue, knowledge acquisition, to ownership. • 1,932 customer deliveries Lucid has 31 Studio and s
Slide 11: Track Record of Prudent Liquidity Management
FOURTH QUARTER EARNINGS RELEASE Track Record of Prudent Liquidity Management As of 12/31/2022, Lucid held ample liquidity of $4.9+ billion with a runway of 12+ months into first quarter of 2024. Since going public in July 2021, Lucid has focused on building a fortress balance sheet centered around a
Slide 12: Financial Highlights: Strength of Balance Sheet and Investments for Growth
FOURTH QUARTER EARNINGS RELEASE Financial Highlights: Strength of Balance Sheet and Investments for Growth BALANCE SHEET (in millions, unless otherwise stated; unaudited) Twelve Months Ended December 31, 2022 2021 Lucid ended the fourth quarter of 2022 with ~$4.4 billion cash, cash equivalents and i
Slide 13: Lucid 2023 Guidance
FOURTH QUARTER EARNINGS RELEASE Lucid 2023 Guidance PRODUCTION VOLUME • 10,000-14,000 vehicles CASH, CASH EQUIVALENTS & INVESTMENTS • Sufficient liquidity at least into the first quarter of 2024 CAPITAL EXPENDITURES • Approximately $1.5-$1.75 billion in 2023 PRODUCT • Lucid Air Sapphire production t
Slide 14: Imagery
FOURTH QUARTER EARNINGS RELEASE Imagery LUCID GROUP, INC. 14
Slide 15: Lucid Air Pure
LUCID GROUP, INC. LUCID AIR PURE 15
Slide 16: Lucid Air Touring
LUCID GROUP, INC. LUCID AIR TOURING 16
Slide 17: Lucid Air Touring
LUCID GROUP, INC. LUCID AIR TOURING 17
Slide 18: Lucid Air Touring
LUCID GROUP, INC. LUCID AIR TOURING 18
Slide 19: Lucid Air Touring
LUCID GROUP, INC. LUCID AIR TOURING 19
Slide 20: Hilversum, Netherlands Studio
LUCID GROUP, INC. HILVERSUM, NETHERLANDS STUDIO 20
Slide 21: AMP-1
LUCID GROUP, INC. AMP-1 21
Slide 22: Financials
FOURTH QUARTER EARNINGS RELEASE Financials LUCID GROUP, INC. 22
Slide 23: Condensed Consolidated Balance Sheets (Unaudited)
FOURTH QUARTER EARNINGS RELEASE Condensed Consolidated Balance Sheets (Unaudited) (In thousands) December 31, 2022 December 31, 2021 December 31, 2022 December 31, 2021 ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY Current assets: Current liabilities: Cash and cash equivalents $ 1,735,765 $ 6,262,905
Slide 24: Condensed Consolidated Statements of Operations and Comprehensive Loss
FOURTH QUARTER EARNINGS RELEASE Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, 2022 2021 2022 2021 (in thousands, except share and per share data) Revenue $ 257,713) $ 26,392) $ 608,181) $ 27,111) Co
Slide 25: Condensed Consolidated Statement of Cash Flows (Unaudited)
FOURTH QUARTER EARNINGS RELEASE Condensed Consolidated Statement of Cash Flows (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, (In thousands) 2022 2021 2022 2021 Net cash used in operating activities $ (648,515) $ (312,732) $ (2,266,258) $ (1,058,133) Net cash used in in
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Measures
FOURTH QUARTER EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended December 31, Twelve Months Ended December 31, (In thousands) 2022 2021 2022 2021 ADJUSTED EBITDA Net loss (GAAP) $ (472,648) $ (1,045,680) $ (1,304,460) $ (2,579,761) Interest expense
Slide 27: Appendix
FOURTH QUARTER EARNINGS RELEASE Appendix LUCID GROUP, INC. 27
Slide 28: Awards and Accolades 2022
FOURTH QUARTER EARNINGS RELEASE Awards and Accolades 2022 Wards Auto Record for longest- 10 Best Engine & Green Car Reports Bloomberg Green range EV ever tested Propulsion Systems Best Car to Buy 2022 EV Rankings Ranked #1 and six of Wards Auto the top seven overall 10 Best Interiors & UX Record for
Slide 29: Unprecedented Efficiency
FOURTH QUARTER EARNINGS RELEASE Unprecedented Efficiency Efficiency Drives Multiple EV Advantages EFFICIENCY: THE ULTIMATE MEASURE OF EV TECHNOLOGY We believe efficiency is the single most relevant metric of an EV company’s technological prowess. Lucid Air Grand Touring has an efficiency of 4.6 mile
Slide 30: World-Class In-House EV Powertrain
FOURTH QUARTER EARNINGS RELEASE World-Class In-House EV Powertrain Ultra-efficient, proprietary powertrain technology and advanced software and battery management system (BMS) Scalable and Modular Motor & Integrated State-of-the-Art, High Bidirectional Charging with Battery Pack Built on Race In-Hou
Slide 31: L_ LIC ICO
L_ LIC ICO