Polestar SPAC Presentation Deck

4 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 -146p.p 39% Polestar¹ Average 185% 100% European Premium -165% 3. Excluding potential capacity of Ghent production site Source: Company information, Management estimates Global EV Player Investment highlights Polestar aims to be the most capital efficient EV premium / luxury brand globally 355% OEM 1 1.2025E capital intensity % used for Polestar. Please refer to slide 42 for additional information on financials. 2. For group 199% Regional EV European² Player Premium OEM 2 105% European Premium OEM 3 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 PC Polestar business office Industrial Steering Committee M&L Commercial Steering Committee Operation 24

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