Investor Presentation

TEV / 2023E Revenue Global Players Transaction overview and valuation Attractive entry valuation with significant discount to peers 3,0x 10,8x 6,5x T TESLA TEV / 2024E Revenue 9,3x 1,5x T Note: Market date as of Sep 23, 2021 Source: FactSet, Company information, Management estimates TESLA Regional Players 4,0x 3,5x LUCID NIO X PENG 3,6x 3,2x LUCID Core Peers Chinese EV Peers 2,1x NIO X PENG 39 39

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