Slide 1: Second Quarter 2024 Earnings Release
SECOND QUARTER 2024 EARNINGS RELEASE Second Quarter 2024 Earnings Release August 5, 2024 LUCID GROUP, INC.
Slide 2: Forward Looking Statements, Trademarks, Non-GAAP Financial Measures and Key Business Metrics
SECOND QUARTER 2024 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
Slide 3: Contents
SECOND QUARTER 2024 EARNINGS RELEASE Contents Key Achievements and Recent & Upcoming Highlights 5 Lucid Vehicle Lineup – Embarking on the Next Transformational Phase 6 Lucid’s Technology Is Many Years Ahead of Its Next Closest Competitor 7 Lucid’s Efficiency Lowers the Cost of Making an EV vs. Compe
Slide 4: The Lucid Gravity SUV, Scheduled for Start of Production Late 2024
SECOND QUARTER 2024 EARNINGS RELEASE The Lucid Gravity SUV, Scheduled for Start of Production Late 2024 LUCID GROUP, INC. 4
Slide 5: 2024 Key Achievements and Recent & Upcoming Highlights
SECOND QUARTER 2024 EARNINGS RELEASE 2024 Key Achievements and Recent & Upcoming Highlights In the Second Quarter of 2024: • Achieved a 70.5% year over year increase in deliveries KEY STATISTICS • Gross margin was largely flat from the first quarter of 2024, despite a special warranty Quarter ended
Slide 6: Embarking on the Next Transformational Phase of the Lucid Vehicle Lineup
SECOND QUARTER 2024 EARNINGS RELEASE Embarking on the Next Transformational Phase of the Lucid Vehicle Lineup 2025 Air Pure Air Air Pure RWD SoP (1) Achieves 5.0m/kWh (2) Lucid Gravity SoP (1) 2021 September 2023 July 2024 Scheduled for late 2024 September 2023 November 2023 July 2024 Scheduled for
Slide 7: Lucid's Technology Is Many Years Ahead of Its Next Closest Competitor
SECOND QUARTER 2024 EARNINGS RELEASE Lucid has a significant technology advantage. If the closest competitor were to continue their rate of progress, it would take many years to match Lucid today 180 Lucid Air Competitor A Competitor B 165 Lucid Air (Trend) Competitor A (Trend) Competitor C 150 146
Slide 8: Lucid's Efficiency Lowers the Cost of Making an EV vs. Competitors
SECOND QUARTER 2024 EARNINGS RELEASE (1) Lucid’s Efficiency Lowers the Cost of Making an EV vs. Competitors 420 miles 405 miles 352 miles 2025 Lucid Air Pure Competitor 1 Competitor 2 Efficiency 5.00 3.89 3.25 (miles/kWh) Battery Pack Size 84 104 108.4 (kWh) Battery Cost/Mile (2) $26 $32 $39 Battery
Slide 9: World-Class In-House EV Technology
SECOND QUARTER 2024 EARNINGS RELEASE World-Class In-House EV Technology Ultra-efficient, proprietary powertrain technology and advanced software and battery management systems (BMS) Scalable and Modular Battery Pack Built on Race Motor & Integrated State-of-the-Art, High Bidirectional Charging with
Slide 10: Lucid, a Leader in EV Technologies, Defines a New Generation of EVs
SECOND QUARTER 2024 EARNINGS RELEASE Lucid, a Leader in EV Technologies, Defines a New Generation of EVs 1 Widely Recognized Technology Leadership 6 Differentiated Systems Approach to Development Innovative, validated, and race-proven technologies continue to Adopted a holistic approach to vehicle d
Slide 11: The Lucid Air Lineup: Unprecedented Range of Capability
SECOND QUARTER 2024 EARNINGS RELEASE The Lucid Air Lineup: From the Most Efficient Car on the Market to the World’s Most Powerful Four-Door Car, Unprecedented Range of Capability. The most energy efficient The most well-rounded The longest-range EV on The most powerful vehicle on the US market EV on
Slide 12: The Lucid Gravity SUV – Setting a New Standard in SUVs
SECOND QUARTER 2024 EARNINGS RELEASE The Lucid Gravity SUV – Setting a New Standard in SUVs The Lucid Gravity SUV start of production is scheduled for late 2024 • The Lucid Gravity will have a range of trims with pricing starting at under $80,000 (1) • The Lucid Gravity builds upon the groundbreakin
Slide 13: Major Advancements in Lucid's Vertically Integrated Production Capabilities
SECOND QUARTER 2024 EARNINGS RELEASE Major Advancements in Lucid’s Vertically Integrated Production Capabilities • Lucid’s Advanced Manufacturing Plant-1 (AMP-1) is the first greenfield, purpose-built EV factory in North America. Located in Casa Grande, Arizona, AMP-1 is the state-of-the-art manufac
Slide 14: Lucid Studio and Service Network
SECOND QUARTER 2024 EARNINGS RELEASE Lucid Studio and Service Network Oslo, Norway Lucid's direct-to-consumer sales approach offers an exceptional customer experience from discovery, intrigue, knowledge Riyadh, Saudi Arabia Dubai, United Arab Emirates acquisition, to ownership. Will continue to expa
Slide 15: Track Record of Prudent Liquidity Management
SECOND QUARTER 2024 EARNINGS RELEASE Track Record of Prudent Liquidity Management As of June 30, 2024, Lucid had liquidity of approximately $4.28 billion. On August 5, 2024, Lucid announced its latest capital raise of $1.5 billion with an affiliate of the PIF, strengthening its liquidity runway at l
Slide 16: Financial Highlights: Strength of Balance Sheet and Investments for Growth
SECOND QUARTER 2024 EARNINGS RELEASE Financial Highlights: Strength of Balance Sheet and Investments for Growth BALANCE SHEET (in millions, unless otherwise stated; unaudited) 6/30/24 12/31/23 Lucid ended the second quarter of 2024 with over $3.9 billion cash, cash equivalents and investments. As of
Slide 17: Lucid Guidance
SECOND QUARTER 2024 EARNINGS RELEASE Lucid Guidance PRODUCTION VOLUME • Annual production guidance of approximately 9,000 vehicles, and will continue to prudently manage and adjust production to meet sales and delivery needs CASH, CASH EQUIVALENTS & INVESTMENTS • Sufficient liquidity at least into t
Slide 18: Imagery
SECOND QUARTER 2024 EARNINGS RELEASE Imagery LUCID GROUP, INC. 18
Slide 19: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 19
Slide 20: Lucid Air in Dubai, U.A.E.
LUCID GROUP, INC. Lucid Air in Dubai, U.A.E. 20
Slide 21: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 21
Slide 22: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 22
Slide 23: Lucid Gravity
LUCID GROUP, INC. Lucid Gravity 23
Slide 24: AMP-1 | Lucid Gravity Body Shop
LUCID GROUP, INC. AMP-1 | Lucid Gravity Body Shop 24
Slide 25: AMP-1 | Lucid Gravity Body Shop
LUCID GROUP, INC. AMP-1 | Lucid Gravity Body Shop 25
Slide 26: AMP-1 | Lucid Gravity Paint Shop
LUCID GROUP, INC. AMP-1 | Lucid Gravity Paint Shop 26
Slide 27: Lucid Gravity Pre-Production Bodyshell
LUCID GROUP, INC. Lucid Gravity Pre-Production Bodyshell 27
Slide 28: LUCID GROUP, INC.
LUCID GROUP, INC. 28
Slide 29: Financials
SECOND QUARTER 2024 EARNINGS RELEASE Financials LUCID GROUP, INC. 29
Slide 30: Condensed Consolidated Balance Sheets (Unaudited)
SECOND QUARTER 2024 EARNINGS RELEASE Condensed Consolidated Balance Sheets (Unaudited) LIABILITIES, REDEEMABLE CONVERTIBLE June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 (In thousands) PREFERRED STOCK, AND STOCKHOLDERS’ ASSETS EQUITY Current assets: Current liabilities: Cash and cas
Slide 31: Condensed Consolidated Statements of Operations & Comprehensive Loss (Unaudited)
SECOND QUARTER 2024 EARNINGS RELEASE Condensed Consolidated Statements of Operations & Comprehensive Loss (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share data) 2024 2023 2024 2023 Revenue $ 200,581) $ 150,874) $ 373,321) $ 300,306) Cost of
Slide 32: Condensed Consolidated Statement of Cash Flows (Unaudited)
SECOND QUARTER 2024 EARNINGS RELEASE Condensed Consolidated Statement of Cash Flows (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 Net cash used in operating activities $ (506,987) $ (700,358) $ (1,023,732) $ (1,501,622) Net cash provided by (use
Slide 33: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited)
SECOND QUARTER 2024 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 ADJUSTED EBITDA Net loss attributable to common stockholders, basic and diluted (GAAP) $ (790,251) $ (764,23
Slide 34: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued
SECOND QUARTER 2024 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands, except share and per share data) ADJUSTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS Net loss
Slide 35: Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued
SECOND QUARTER 2024 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2024 2023 2024 2023 FREE CASH FLOW Net cash used in operating activities (GAAP) $ (506,987) $ (700,358) $ (1,023,732
Slide 36: Appendix
SECOND QUARTER 2024 EARNINGS RELEASE Appendix LUCID GROUP, INC. 36
Slide 37: Selected Awards
SECOND QUARTER 2024 EARNINGS RELEASE Selected Awards 10Best List World Luxury Car Car of the Year 2024 (1) 2023 (2) 2022 (3) Best Luxury US-Built Luxury Newsweek 10 Best Engines and 10 Best Electric Bloomberg Green Electric Car 2022, Vehicle of the Year Powertrain of the Year Propulsion Systems Cars