Tesla Results Presentation Deck

FINANCIAL SUMMARY Revenue Profitability Cash Total revenue grew 3% YoY in Q4 to $25.2B. YoY, revenue was impacted by the following items: + growth in vehicle deliveries + growth in other parts of the business + positive FX impact of $0.1B¹ - reduced vehicle average selling price (ASP) YOY (excl. FX impact), including unfavorable impact of mix - lower FSD revenue recognition YoY due to FSD Beta wide release in North America in Q4 22 Our operating income decreased YoY to $2.1B in Q4, resulting in an 8.2% operating margin. YoY, operating income was primarily impacted by the following items: - reduced vehicle ASP due to pricing and mix - increase in operating expenses partly driven by Al and other R&D projects - lower FSD revenue recognition YoY due to FSD Beta wide release in North America in Q4 22 - cost of Cybertruck production ramp + lower cost per vehicle, including lower raw material costs, logistics costs and IRA credit benefit + growth in vehicle deliveries + gross profit growth in Energy Generation and Storage While it did not impact Operating Income, we did record a one-time non-cash tax benefit of $5.9B in Q4 for the release of valuation allowance on certain deferred tax assets. Quarter-end cash, cash equivalents and investments increased sequentially by $3.0B to $29.1B in Q4, driven by free cash flow of $2.1B and financing activities of $0.9B. (1) Impact is calculated on a constant currency basis. Actuals are compared against current results converted into USD using average exchange rates from Q4'22. 6 TESLA

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