Slide 1: Second Quarter 2025 Earnings Release
Second Quarter 2025 Earnings Release August 5, 2025 LUCID GROUP, INC.
Slide 2: Forward Looking Statements
SECOND QUARTER 2025 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: Q2 2025 Key Achievements and Recent Highlights
SECOND QUARTER 2025 EARNINGS RELEASE Q2 2025 Key Achievements and Recent Highlights Q2 2025 Highlights • Sixth consecutive quarter of record deliveries, achieving 38% year- over-year growth compared to Q2 2024 • Record quarterly revenue in Q2 of $259.4 million • Q2 GAAP diluted net loss per share of
Slide 4: Key Financial Results for Q2 2025
SECOND QUARTER 2025 EARNINGS RELEASE Key Financial Results for Q2 2025 Sequential increases in deliveries and ASP demonstrate continued growth; the negative impact of tariffs (21pts) more than offset these gains, pressuring GAAP Gross Margin and Adjusted EBITDA Revenue GAAP Gross Margin Adjusted EBI
Slide 5: Advancing Our Near-Term Priorities
SECOND QUARTER 2025 EARNINGS RELEASE Advancing Our Near-Term Priorities 1. Focused on disciplined 2. Driving brand awareness 3. Extending technology execution and consumer demand leadership LUCID GROUP, INC. 5
Slide 6: Ramping Production and Deliveries
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Ramping Production and Deliveries Production Deliveries • Produced 3,863 vehicles in Q2 — 3,863 3,309 up 83% year-over-year, with 3,099 3,109 Lucid Gravity production 3,386 2,781 be
Slide 7: Optimizing Our Supply Chain and Vertically Integrated Production Capabilities
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Optimizing Our Supply Chain and Vertically Integrated Production Capabilities Fortifying our supply chain for the future • Addressed key production bottlenecks tied to supplier cons
Slide 8: Track Record of Prudent Liquidity
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Track Record of Prudent Liquidity Strong Liquidity Position with Diverse Funding LIQUIDITY (in $M) Sources $4,855 Total Liquidity (as of 6/30/25) • Ended Q2 with total liquidity of
Slide 9: Taking Clear Actions to Drive Brand Awareness and Consumer Demand
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Taking Clear Actions to Drive Brand Awareness and Consumer Demand 1. Brand Ambassador 2. High Visibility from New Partnership 3. Enhancing Consumer Access Premiering this fall: Our
Slide 10: Lucid Studio and Service Network
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Lucid Studio and Service Network • Lucid has 43 Studios and service centers in North America, 11 in Europe, Oslo, Norway and 4 in Middle East.(1) Riyadh, Saudi Arabia • Lucid will c
Slide 11: Lucid Gravity Now Available in All Studios in the United States
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Lucid Gravity Now Available in All Studios in the United States with Multiple Activations Throughout The Year Lucid Gravity daily order rate has nearly doubled since display and Exp
Slide 12: Technology Enabling Greater Efficiency at a Lower Cost
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Technology Enabling Greater Efficiency at a Lower Cost (1)(2) Efficiency Battery pack cost per mile Model (miles/kWh) of Vehicle Range ($/mile) GUINNESS WORLD RECORDS Lucid Air Pure
Slide 13: Hands-Free Drive Assist and Hands-Free Lane Change Assist as Next Step in ADAS / AD Roadmap
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Hands-Free Drive Assist and Hands-Free Lane Change Assist as Next Step in ADAS / AD Roadmap Significant enhancement to Lucid's DreamDrive® Pro system • Rolled out DreamDrive® Pro up
Slide 14: Partnership with Uber and Nuro on Next-Generation Autonomous Robotaxi Program
1. DISCIPLINED EXECUTION 2. AWARENESS & DEMAND 3. EXTENDING TECHNOLOGY LEADERSHIP SECOND QUARTER 2025 EARNINGS RELEASE Partnership with Uber and Nuro on Next-Generation Autonomous Robotaxi Program Strategic Expansion into Autonomous Mobility • Lucid, Uber, and Nuro announced a global premium robotax
Slide 15: Lucid, a Leader in EV Technologies, Defines a New Generation of EVs
SECOND QUARTER 2025 EARNINGS RELEASE Lucid, a Leader in EV Technologies, Defines a New Generation of EVs 1. 2. 3. 4. 5. Widely Recognized Powerful Strategic Technology Diversified Expanding Market Technology Partnership Vertical Integration Revenue Streams Opportunity Leadership The PIF has been a O
Slide 16: Lucid 2025 Outlook
SECOND QUARTER 2025 EARNINGS RELEASE Lucid 2025 Outlook Item Guidance Prior Guidance Commentary Updating to a range to reflect the potential impact of continuously Production Volume 18,000 - 20,000 vehicles ~20,000 vehicles changing market environment and external factors. Sufficient liquidity into
Slide 17: Financials
SECOND QUARTER 2025 EARNINGS RELEASE Financials LUCID GROUP, INC. 17
Slide 18: Financial Highlights: Strength of Balance Sheet and Investments for Growth
SECOND QUARTER 2025 EARNINGS RELEASE Financial Highlights: Strength of Balance Sheet and Investments for Growth BALANCE SHEET (in millions, unless otherwise stated; unaudited) 6/30/25 12/31/24 Lucid ended the second quarter of 2025 with approximately $3.63 billion cash, cash equivalents, investments
Slide 19: Condensed Consolidated Balance Sheets (Unaudited)
SECOND QUARTER 2025 EARNINGS RELEASE Condensed Consolidated Balance Sheets (Unaudited) LIABILITIES, REDEEMABLE CONVERTIBLE June 30, 2025 December 31, 2024 PREFERRED STOCK, AND STOCKHOLDERS’ (In thousands) June 30, 2025 December 31, 2024 EQUITY ASSETS Current liabilities: Current assets: Accounts pay
Slide 20: Condensed Consolidated Statements of Operations & Comprehensive Loss
SECOND QUARTER 2025 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) 2025 2024 2025 2024 Revenue $ 259,432) $ 200,581) $ 494,480) $ 373,321) Cost of
Slide 21: Condensed Consolidated Statement of Cash Flows
SECOND QUARTER 2025 EARNINGS RELEASE Condensed Consolidated Statement of Cash Flows (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2025 2024 2025 2024 Net cash used in operating activities $ (830,241) $ (506,987) $ (1,258,854) $ (1,023,732) Net cash provided by (use
Slide 22: Appendix
SECOND QUARTER 2025 EARNINGS RELEASE Appendix LUCID GROUP, INC. 22
Slide 23: Reconciliation of GAAP to Non-GAAP Financial Measures
SECOND QUARTER 2025 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2025 2024 2025 2024 ADJUSTED EBITDA Net loss attributable to common stockholders, basic (GAAP) $ (739,255) $ (790,251) $ (1,470,
Slide 24: Reconciliation of GAAP to Non-GAAP Financial Measures – Continued
SECOND QUARTER 2025 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (In thousands, except share and per share data) ADJUSTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS Net loss
Slide 25: Reconciliation of GAAP to Non-GAAP Financial Measures – Continued
SECOND QUARTER 2025 EARNINGS RELEASE Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited) – Continued Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2025 2024 2025 2024 FREE CASH FLOW Net cash used in operating activities (GAAP) $ (830,241) $ (506,987) $ (1,258,854