Polestar Investor Presentation Deck

EBIT margin Revenue, $bn 1.3 2021 EBIT, $bn (74%) (1.0) 2021 2.5 2022E (37%) (0.9) 2022E 6.6 2023E (2%) (0.2) 2023E Financial overview Financial summary: profitable by 2024E and 8% EBIT margin by 2025E 13.0 2024E 3% 0.4 2024E 17.6 2025E 8% 1.3 2025E Gross margin Gross Profit, $bn 0% 13% 0.0 2021 Cash conversion¹ 0.3 (1.3) 2021 2022E 20% (1.7) 2022E 1.3 2023E Adjusted Unleveraged Free Cash Flow², $bn n.m. n.m. n.m. (0.7) 2023E 19% 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. 2.4 2024E n.m. (0.2) 2024E 21% 3.7 2025E 59% 1.1 2025E 33

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