Lotus Tech Growth Strategy

1 EARLY MOVER IN THE MODERN SUSTAINABLE LUXURY BEV MARKET Lotus Tech is leading the electrification transformation of the fast-growing luxury car segment (>US$80k) Lotus Tech is well positioned to address the luxury BEV market, which is expected to grow at a CAGR of 35% from 2021 to 2031 Luxury car segment is expected to outgrow the overall car market... ...driven by rapid BEV transformation Global car market (BEV + non-BEV) sales volume by price band (unit, k) Global luxury car market (BEV + non-BEV) sales volume (unit, k) % >US$80k (luxury car segment) <US$80k BEV penetration¹ Luxury BEV Luxury non-BEV 45% 104,525 14,215 Fast growth in global luxury BEV market is driven by long-lasting sustainability awareness, and favourable policies phasing out ICE sales in the coming decade, e.g., Norway by 2025, 10 countries (incl. UK, Netherlands, etc.) by 2030 and 4 more countries including China to follow by 2035 Source: Oliver Wyman, LLC Note: Car market here indicates all powertrain types, i.e. BEV and non-BEV 1. BEV penetration of Luxury car segment (>US$80k) Luxury car CAGR 10% 4,215 80,268 1,601 78,667 Non-luxury car CAGR 3% 100,309 2021A 2031E [Luxury car segment Luxury BEV 1,929 CAGR 6% 35% 1,601 93 Luxury non-BEV CAGR 2,286 4% 1,508 2021A 2031E 21 LOTUS TECH

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