Polestar Investor Presentation

4 Investment highlights Polestar aims to be the most capital efficient EV premium/luxury brand globally Scalable, flexible and operational - - Flexibility to scale production rapidly with demand, using already operational plant ecosystem Access to global plants with ~750k capacity³ - Higher return on capital vs. peers - Polestar can fully capitalize on Geely/Volvo Cars synergies where it sees best fit Capital intensity % of total assets/2021A revenue¹ Average150% 115% -109p.p 101% 41% Polestar¹ European Premium OEM 1 Global EV Player 232% 187% Independent Board and arm's length contracts - - - Adherence to OECD guidelines for intra-company dealings Most contracts are evergreens and negotiated on a cost-plus basis 3-year manufacturing capacity reserve planning and annually re- confirmed Board of Directors Polestar / Volvo Cars executive alignment meeting Product Creation Steering Committee Industrial Steering Committee Commercial Steering Committee 117% Regional EV European² European Player Premium OEM 2 Premium OEM 3 1.2025E capital intensity % used for Polestar. Please refer to slide 42 for additional information on financials. 2. For group. 3. Excluding potential capacity of potential European production site. Source: Company information, Management estimates. PC M&L Polestar business office Operation 24

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