Polestar Investor Presentation

Financial overview Financial summary: profitable by 2024E and 8% EBIT margin by 2025E Revenue, $bn 17.6 Gross Profit, $bn 13.0 Gross margin 0% 13% 20% 19% 21% 3.7 2.4 6.6 2.5 1.3 2021 2022E 2023E 2024E 2025E 1.3 0.3 0.0 2021 2022E 2023E 2024E 2025E EBIT, $bn EBIT (74%) margin Adjusted Unleveraged Free Cash Flow², $bn (37%) (2%) 3% 8% Cash conversion¹ n.m. n.m. 1.3 0.4 (0.2) (1.0) 2021 (0.9) 2022E 2023E 2024E 2025E n.m. n.m. 59% 1.1 (0.2) (0.7) (1.3) (1.7) 2021 2022E 2023E 2024E 2025E Note: Non GAAP metrics. Management estimates based on assumptions regarding Polestar's performance in the geographic regions where it competes, demand for its different car models, its available book of customers and management's views on market and customer demand going forward. 1. Cash Conversion defined as Adjusted Unleveraged Free Cash Flow/EBITDA. 2. See slide 42 for calculation of Adjusted Unleveraged Free Cash Flow. Source: Company Information, Management estimates. 33

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