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 make can fully capitalize on Geely/Volvo Cars synergies where it sees best fit Capital intensity % of total assets/2020A revenue¹ 355% 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 -146p.p Average 185% 165% 100% 39% 199% 105% PC M&L Polestar business office Polestar¹ European Premium Global EV Player OEM 1 Regional EV European2 Player Premium OEM 2 European 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 Ghent production site Source: Company information, Management estimates Operation 24

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