Lucid Group, Inc.

Increased the Delayed Draw Term Loan (DDTL) provided by PIF by $500 million, drawing $500 million in cash in April while retaining approximately $2.0 billion in remaining undrawn capacity Ended the quarter with approximately $3.2 billion in liquidity.

SEC original ↗Lucid Group, Inc. — Earnings release (8-K exhibit)EX-99May 5, 2026

Free cash flow is defined as net cash used in operating activities less capital expenditures.

SEC original ↗Lucid Group, Inc. — Earnings release (8-K exhibit)EX-99May 5, 2026

Lucid believes that free cash flow provides useful information to Lucid s management and investors about the amount of cash generated by the business after necessary capital expenditures.

SEC original ↗Lucid Group, Inc. — Earnings release (8-K exhibit)EX-99May 5, 2026

In 2022, the Company entered into a loan agreement with the Saudi Industrial Development Fund ( SIDF ) with an aggregate principal amount of up to approximately $ 1.4 billion, a five-year senior secured asset-based revolving credit facility ( ABL Credit Facility ) with an initial aggregate principal commitment amount of up to $ 1.0 billion, and revolving credit facilities with Gulf International Bank ( GIB ) in an aggregate principal amount of approximately $ 266.1 million (as amended to increase the aggregate principal to $ 505.7 million in February 2025, the 2025 GIB Credit Facility ).

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

See Note 6 Debt for more information.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

In August 2024, the Company entered into a $ 750.0 million five-year unsecured delayed draw term loan credit facility (the DDTL Credit Facility ) with Ayar.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

We expanded strategic partnerships, including with Uber, and continued to advance our autonomy roadmap.

SEC original ↗Lucid Group, Inc. — Earnings release (8-K exhibit)EX-99May 5, 2026

We strengthened our balance sheet with over $1 billion in new capital and expanded strategic partnerships that enhance long-term revenue visibility said Taoufiq Boussaid, Chief Financial Officer at Lucid.

SEC original ↗Lucid Group, Inc. — Earnings release (8-K exhibit)EX-99May 5, 2026

Forward-looking statements may be identified by the use of words such as estimate, plan, project, forecast, intend, will, shall, expect, anticipate, believe, seek, target, continue, could, may, might, possible, potential, predict, scheduled, aiming, targeting, objective, focus, strategic or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Liquidity The Company devotes its efforts to business planning, sale and servicing of vehicles, providing technology access, research and development, construction of manufacturing facilities, expansion of retail studios and service centers, recruitment of management and technical talent, acquisition of operating assets, and capital-raising activities.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

The Company continues to expand AMP-1, construct the completely-built-up ( CBU ) portion of AMP-2 for which building construction is substantially completed, with remaining work focused on commissioning and fit-out activities, and build a network of retail sales and service locations.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

If any of these risks or uncertainties materialize or Lucid s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.

SEC original ↗Lucid Group, Inc. — Earnings release (8-K exhibit)EX-99May 5, 2026

Legal Proceedings 66 Item 1A.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

These risks and uncertainties include, but are not limited to, those factors described under the heading Risk Factors in Part II, Item 1A.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026

A global economic recession, downturn or other adverse economic conditions, whether due to changes or uncertainties in trade policies, the imposition or proposed imposition of tariffs, export controls, threat of a trade war, persistent inflation, political instability, global or regional conflicts or other geopolitical events, public health crises, interest rate changes or other central bank policy actions, bank closures and liquidity concerns at financial institutions, or other factors, have in the past and may in the future have an adverse impact on the Company s business, prospects, financial condition and results of operations.

SEC original ↗Lucid Group, Inc. — 10-Q Quarterly report10-QAug 4, 2026