Lucid Group, Inc. (NASDAQ:LCID) Q1 2023 Earnings Conference Call May 8, 2023 5:30 PM ET Company Participants Maynard Um - Head of IR Peter Rawlinson - CEO & Chief Technology Officer Sherry House - CFO Conference Call Participants Christopher Pierce - Needham & Company John Murphy - Bank of America Andres Sheppard - Cantor Fitzgerald Steven Fox - Fox Advisors Ron Jewsikow - Guggenheim Partners Operator Hello, and thank you for standing by, and welcome to Lucid Group's First Quarter '23 Earnings Conference Ca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q 7373 Gateway Boulevard, Newark, CA 94560 (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39408 Lucid Group, Inc. (Exact name of registrant as specified in its charter) Delawar ...

Financial Performance - The company incurred a net loss of approximately $1.3 billion for the year ended December 31, 2022, with an accumulated deficit of approximately $7.4 billion[138]. - The company expects to continue incurring substantial losses and increasing expenses in the foreseeable future due to significant investments in research, development, and manufacturing[138]. - Financial results are expected to vary significantly due to fluctuations in production levels, operating costs, and product demand[311]. - The company has accumulated U.S. federal and state net operating loss (NOL) carryforwards, with some beginning to expire in 2031[312]. - An "ownership change" in 2016 limits the company's ability to utilize approximately $12 million of gross U.S. federal NOL and $15 million of gross U.S. federal research and development tax credit carryforwards[314]. - The company may face write-downs, restructuring, and impairment charges that could significantly negatively impact its financial condition and stock price, potentially leading to losses for investors[331]. Business Model and Revenue Dependence - The company currently depends on revenue generated from a single vehicle model, Lucid Air, and expects to rely on it for capital required to develop and commercialize subsequent models[145]. - The ability to generate meaningful product revenue will depend on sustained consumer demand for electric vehicles, which is subject to various market factors[153]. - The company expects to benefit from government programs like zero emission vehicle credits and tax incentives, but any reduction or elimination of these programs could harm its revenue generation[165]. Supply Chain and Manufacturing Risks - The company has limited experience in high-volume manufacturing and may face challenges in scaling production effectively[140]. - The company is highly dependent on a limited number of suppliers for critical components, which poses risks to its production capabilities[136]. - The company relies on third-party suppliers for key components, facing ongoing challenges in logistics and semiconductor supply, which have resulted in increased costs and delays[183]. - The company has not secured long-term supply agreements for all components, exposing it to price fluctuations and potential supply shortages[186]. - A global semiconductor supply shortage is impacting the automotive industry, potentially delaying or reducing production levels of the Lucid Air and future vehicles, which could materially affect business prospects and results[197]. Market and Competitive Environment - The global automotive market, especially for electric vehicles, is highly competitive with increasing entrants and traditional manufacturers producing electric and alternative fuel vehicles[163]. - The market for electric vehicles is characterized by rapidly changing technologies, price competition, and evolving government regulations, which could negatively impact consumer demand[154]. - Significant developments in alternative technologies, such as battery cell technologies and hydrogen fuel cells, may adversely affect the demand for the company's vehicles[164]. Regulatory and Legal Challenges - The company is subject to complex environmental, manufacturing, health, and safety laws, which could impose significant compliance costs and operational delays[248]. - The company is currently involved in various legal proceedings, including shareholder derivative actions, which could result in significant expenses and management distraction[254]. - The company received a subpoena from the SEC related to an investigation concerning its merger, and is cooperating fully with the SEC[256]. - The company faces risks related to product liability claims, which could harm its financial condition and liquidity if not successfully defended[263]. Operational and Logistical Challenges - The company faces significant barriers to entry in the automotive industry, including large capital requirements and the need for specialized expertise[162]. - The company may struggle to accurately estimate vehicle supply and demand, leading to inefficiencies and potential delays in manufacturing and revenue generation[220]. - The company’s operations depend on the effectiveness of its IT systems, and any disruptions could impair financial reporting and operational efficiency[230]. Cybersecurity and Data Privacy - Cybersecurity risks are heightened, with potential unauthorized access to sensitive data and systems, which could result in significant operational and financial impacts[224]. - The company is exposed to cybersecurity risks that could compromise vehicle integrity and safety, leading to monetary losses and reputational damage[228]. - The company is subject to evolving data privacy laws, including the GDPR and CCPA, which may require substantial resources to comply with and could impact financial condition[234]. Human Resources and Workforce Management - The company requires qualified personnel for its operations, and competition for skilled workers in the electric vehicle sector is intense[157]. - The company must hire and train a significant number of employees for full-scale commercial manufacturing operations, which poses risks related to workforce management and training[243]. - The company currently has no United States based employees represented by a labor union, which may help mitigate potential employee costs and work stoppage risks[244]. Environmental and Safety Considerations - Lithium-ion battery cells used in vehicles pose safety risks, including the potential for fires, which could lead to lawsuits and damage to the company's reputation[222]. - Environmental, health, and safety regulations could impose substantial costs and cause delays in expanding production facilities, affecting business operations[266]. Financial Strategy and Capital Needs - The company anticipates needing to raise additional funds through equity or debt financings due to its capital-intensive business model[293]. - The company may face significant dilution for existing shareholders if additional equity or convertible debt securities are issued[295]. - The company may incur additional debt in the future, subject to restrictions in its debt instruments, which could impact its ability to make payments[304]. Brand and Consumer Perception - The company's business and prospects heavily depend on developing and maintaining the "Lucid" brand association with luxury and technological excellence[148]. - Negative publicity, whether true or not, can quickly proliferate on social media, adversely affecting consumer perception and confidence in the brand[149]. - The company has limited experience in servicing its vehicles, which may adversely affect its business and customer satisfaction if service needs are not met adequately[215].

Lucid Group, Inc. (NASDAQ:LCID) Q3 2022 Earnings Conference Call November 8, 2022 5:30 PM ET Company Participants Maynard Um - Head-Investor Relations Peter Rawlinson - Chief Executive Officer & Chief Technology Officer Sherry House - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Andres Sheppard - Cantor Fitzgerald Charles Coldicott - Redburn Adam Jonas - Morgan Stanley Vikram Bagri - Needham Operator Hello, and thank you for standing by. Welcome to the Lucid's Third Qua ...

THIRD QUARTER EARNINGS RELEASE Third Quarter 2022 Earnings Release November 8, 2022 LUCID GROUP, INC. THIRD 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 words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "believ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39408 Lucid Group, Inc. (Exact name of registrant as specified in its charter) Delaware 85-0891392 (State or other jurisdic ...

Lucid Group, Inc. (NASDAQ:LCID) Q2 2022 Earnings Conference Call August 3, 2022 5:30 PM ET Company Participants Maynard Um - Senior Director of Investor Relations Peter Rawlinson - Chief Executive Officer & Chief Technology Officer Sherry House - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Itay Michaeli - Citi Charles Coldicott - Redburn Operator Good day and thank you for standing by. Welcome to the Lucid Group Second Quarter 2022 Earnings Conference Call. At this tim ...

SECOND QUARTER EARNINGS RELEASE Second Quarter 2022 Earnings Release August 3, 2022 LUCID GROUP, INC. SECOND 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 words such as "estimate," "plan," "project," "forecast," "intend," "will," "shall," "expect," "anticipate," "belie ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39408 Lucid Group, Inc. (Exact name of registrant as specified in its charter) Delaware 85-0891392 (State or other jurisdiction ...

FIRST QUARTER EARNINGS RELEASE First Quarter 2022 Earnings Release May 5, 2022 LUCID GROUP, INC. FIRST 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 words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "t ...