Polestar Investor Presentation

Global Players TEV / 2023E Revenue 3.1x Transaction overview and valuation Attractive entry valuation with significant discount to peers 10.0x 9.3x 8.1x + TEV / 2024E Revenue TESLA 7.7x 1.5x Note: Market date as of Feb 28, 2022. Source: FactSet, Company information, Management estimates. Regional Players 2.8x 2.3x T LUOID X PENG NIO RIVIAN 4.7x 3.9x 1.8x T LUCID TESLA 1.7x ✰ NIO X PENG RIVIAN Core Peers Chinese EV Peers 38 88

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