Lucid Announces Second Quarter Production and Shipments and Sets Date for Second Quarter 2024 Results

NEWARK, CA — July 8, 2024 — Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced electric vehicles, today announced production and delivery totals for the quarter ended June 30, 2024. Lucid produced 2,110 vehicles and delivered 2,394 vehicles during the period.¹

Lucid will host a conference call to discuss its second quarter 2024 financial results on Monday, August 5, 2024 at 2:30 p.m. PT / 5:30 p.m. ET. Prior to the conference call, the Company will issue a press release regarding its results with a link to the live webcast on its investor relations website, https://ir.lucidmotors.com.

To enhance engagement with the Company’s shareholder base and facilitate connections with its investors, Lucid is partnering with Say Technologies to enable retail and institutional shareholders to submit and vote on questions, a selection of which will be answered by Lucid management during the earnings conference call.

Beginning July 22, 2024, at 2:30 p.m. PT / 5:30 p.m. ET, shareholders will be able to submit questions by visiting https://app.saytechnologies.com/lucid-group-2024-q2. This Q&A platform will remain open until 2:30 p.m. PT / 5:30 p.m. ET on August 2.^{2024. Shareholders may email [email protected] for any assistance requests.}

Earnings Conference Call Details:

Date:
Monday August 5, 2024

Time:
2:30 PM PT / 5:30 PM ET

Webcast:
https://ir.lucidmotors.com (live and replay)

¹Lucid’s net income and cash flow results will be announced along with the remainder of its financial results when Lucid announces its second quarter results. Lucid’s vehicle production and delivery figures represent only one measure of the company’s operating performance and should not be considered the sole indicators of quarterly financial results, which depend on a variety of factors.

About Lucid Group
Lucid (NASDAQ: LCID) is a Silicon Valley-based technology company focused on creating the world’s most advanced electric vehicles. The flagship Lucid Air offers best-in-class performance and efficiency starting at $69,900*. Lucid is preparing its state-of-the-art, vertically integrated manufacturing facility in Arizona to begin production of the Lucid Gravity SUV. The company’s goal is to accelerate humanity’s transition to sustainable transportation and energy.

*Excluding taxes, title, license, options, destination and documentation fees. For US market only.

Investor Relations Contact
[email protected]

Media Contact
[email protected]

Trademarks
This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “should,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “possible,” “potential,” “predict” or other similar expressions that predict or indicate future events or trends or that are not statements of historical fact. These forward-looking statements include, but are not limited to, statements regarding Lucid’s expectations related to Lucid’s production and delivery volume outlook and finalized production and delivery totals for the quarter ended June 30, 2024. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid’s management. These forward-looking statements are not intended to be, and should not be relied upon by an investor as, guarantees, assurances or definitive statements of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond Lucid’s control. These forward-looking statements are subject to a number of risks and uncertainties, including the factors discussed under the caption “Risk Factors” in Part II, Item 1A of Lucid’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, and other filings that Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or if Lucid’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid is not currently aware of or that Lucid currently believes are not material that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid’s expectations, plans or projections regarding future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause its assessments to change. However, although Lucid may elect to update these forward-looking statements at some point in the future, Lucid expressly disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed on forward-looking statements.