Lotus Cars SPAC Presentation Deck

EARLY MOVER IN THE MODERN SUSTAINABLE LUXURY BEV MARKET 1 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 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 segment is expected to outgrow the overall car market... Global car market (BEV + non-BEV) sales volume by price band (unit, k) >US$80k (luxury car segment) <US$80k Luxury car CAGR 10% 80,268 1,601 78,667 2021A Non-luxury car CAGR 3% 104,525 4,215 100,309 2031E ...driven by rapid BEV transformation Global luxury car market (BEV + non-BEV) sales volume (unit, k) % BEV penetration¹ Luxury BEV Luxury car segment Luxury non-BEV 6% 1,601¹ 93 1,508 2021A Luxury BEV CAGR 35% Luxury non-BEV CAGR 4% 45% 14,215¹ 1,929 2,286 2031E 21 LOTUSTECH

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