Slide 1: Third Quarter Earnings Release
THIRD QUARTER EARNINGS RELEASE November 7, 2023 LUCID GROUP, INC.
Slide 2: Forward-looking statements
THIRD QUARTER 2023 EARNINGS RELEASE 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 words such as “estimate,” “
Slide 3: Table of contents
THIRD QUARTER EARNINGS RELEASE Mission 4 Third Quarter & Recent Highlights 5 Lucid Core Strengths 6 The Lucid Air Lineup - Unprecedented Range of Capability 7 Gravity SUV 8 Vertically Integrated Production 9 Studio and Service Network 10 Track Record of Prudent Liquidity Management 11 Financial High
Slide 4: Third Quarter 2023 Earnings Release
THIRD QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 4
Slide 5: Key Statistics
THIRD QUARTER 2023 EARNINGS RELEASE Delivered key milestones as planned in the third quarter: KEY STATISTICS • Lucid Air Pure Rear-Wheel Drive start of production in September and in the process of ramping up production: Lucid’s most affordable Air with an Quarter-to-date as of September 30, 2023 un
Slide 6: Lucid Core Strengths
THIRD QUARTER 2023 EARNINGS RELEASE 1 Established & Widely Recognized Technology 6 Technology Vertical Integration Innovative, validated, and race-proven technologies continue to Our world-class EV powertrain is only possible because we design, outpace peers and provide competitive differentiation d
Slide 7: The Lucid Air Lineup
THIRD QUARTER 2023 EARNINGS RELEASE The most efficient vehicle The most well-rounded The longest-range EV The most powerful on the US market EV on the market on the US market four-door car in the world Pure Touring Grand Touring Sapphire From $77,400 From $95,000 From $125,600 $249,000 Power: Up to
Slide 8: Gravity SUV
THIRD QUARTER 2023 EARNINGS RELEASE • The public unveiling of the Lucid Gravity is scheduled for November 16, 2023, at the Los Angeles Auto Show • This luxury electric SUV will offer comfortable seating for up to seven adults with space for their gear, the driving dynamics of a sports car, and great
Slide 9: Vertically Integrated Production
THIRD QUARTER 2023 EARNINGS RELEASE • Lucid's core EV technology is not only created in-house, but also manufactured at Lucid's dedicated EV powertrain factory in Arizona, where Lucid produces its own electric motors, transmission systems, power electronic inverters, the revolutionary Wunderbox, and
Slide 10: Q3 2023 Sales & Service Highlights
THIRD QUARTER 2023 EARNINGS RELEASE Oslo, Norway Lucid's direct-to-consumer sales approach offers an exceptional customer experience from discovery, intrigue, Riyadh, Saudi Arabia knowledge acquisition, to ownership. Lucid has 38 Studios and service centers in North America, 5 in Europe, and 2 in Sa
Slide 11: Liquidity Level as of September 30, 2023
THIRD QUARTER 2023 EARNINGS RELEASE As of September 30, 2023, Lucid had liquidity of approximately $5.45 billion, which we believe provides sufficient runway through Gravity start-of-production, and beyond, into 2025. Lucid has focused on balance sheet strength and shown the ability to raise money i
Slide 12: Financial Highlights
THIRD QUARTER 2023 EARNINGS RELEASE BALANCE SHEET (in millions, unless otherwise stated; unaudited) 9/30/23 12/31/22 Lucid ended the third quarter of 2023 with over $4.9 billion cash, cash equivalents and investments. As of September 30, 2023, Lucid had total Cash, Cash Equivalents and Investments $
Slide 13: Guidance
THIRD QUARTER 2023 EARNINGS RELEASE PRODUCTION VOLUME • Production of 8,000-8,500 vehicles in 2023 CASH, CASH EQUIVALENTS & INVESTMENTS • Sufficient liquidity at least into 2025 CAPITAL EXPENDITURES • Approximately $1.0-$1.1 billion in 2023 PRODUCT • Lucid Gravity SUV production to begin in late 202
Slide 14: Imagery
THIRD QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 14
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Slide 16: LUCID GROUP, INC.
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Slide 17: Lucid Air Sapphire
LUCID GROUP, INC. Lucid Air Sapphire 17
Slide 18: LUCID GROUP, INC.
LUCID GROUP, INC. 18
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Slide 20: Sonoma Raceway - Sapphire
LUCID GROUP, INC. Sonoma Raceway - Sapphire 20
Slide 21: Sonoma Raceway - Sapphire
LUCID GROUP, INC. Sonoma Raceway - Sapphire 21
Slide 22: AMP-1 Manufacturing Facility in Arizona
LUCID GROUP, INC. AMP-1 Manufacturing Facility in Arizona 22
Slide 23: AMP-2 Manufacturing Facility in Saudi Arabia
LUCID GROUP, INC. AMP-2 Manufacturing Facility in Saudi Arabia 23
Slide 24: Financials
THIRD QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 24
Slide 25: Consolidated Balance Sheets
THIRD QUARTER 2023 EARNINGS RELEASE (In thousands) September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 ASSETS LIABILITIES AND STOCKHOLDERS’ EQUITY Current assets: Current liabilities: Cash and cash equivalents $ 1,164,391 $ 1,735,765 Accounts payable $ 104,602 $ 229,084 Short-t
Slide 26: Consolidated Statements of Operations
THIRD QUARTER 2023 EARNINGS RELEASE Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share data) 2023 2022 2023 2022 Revenue $ 137,814) $ 195,457) $ 438,120) $ 350,468) Cost of revenue 469,722) 492,483) 1,526,051) 1,030,795) Gross profit (loss) (33
Slide 27: Consolidated Cash Flows
THIRD QUARTER 2023 EARNINGS RELEASE Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2023 2022 2023 2022 Net cash used in operating activities $ (513,582) $ (569,466) $ (2,015,204) $ (1,577,743) Net cash used in investing activities (1,132,437) (1,374,898) (1,599,125)
Slide 28: Adjusted EBITDA and Free Cash Flow Reconciliation
THIRD QUARTER 2023 EARNINGS RELEASE Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2023 2022 2023 2022 ADJUSTED EBITDA Net loss (GAAP) $ (630,894) $ (530,101) $ (2,174,654) $ (831,812) Interest expense 3,340) 7,613) 17,138) 22,521) Interest income (66,064) (24,373) (
Slide 29: Appendix
THIRD QUARTER 2023 EARNINGS RELEASE LUCID GROUP, INC. 29
Slide 30: Awards and Recognition
THIRD QUARTER 2023 EARNINGS RELEASE World Luxury Car 2023 (2) Car of the Year Bloomberg Green 10 Best Engines and 2022 (7) Ranked #1 in Bloomberg Propulsion Systems Green’s EV Green Ratings (8) 2022 & 2023 (1) Powertrain of the Year MotorWeek 10 Best Electric Cars.com Best Luxury Top Pick Luxury EV
Slide 31: Proprietary powertrain technology
THIRD QUARTER 2023 EARNINGS RELEASE 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-House Software Transmission Voltag