Lucid Team Announces Key Management Appointments to Finance Staff Signals Readiness for Development in 2022

Additions of Gagan Dhingra, VP of Accounting and Principal Accounting Officer, and Mustally Hussain, Handling Director, Worldwide Treasurer and Head of Fiscal Expert services, fortify monetary arm of Lucid as a promptly rising community organization

NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ — Lucid Group (NASDAQ: LCID), which is setting new benchmarks with its superior luxury electric powered cars (EVs), today introduced the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Managing Director, Global Treasurer and Head of Money Products and services. Together, they carry decades of strategic management encounter in creating accounting and economic features at different multi-national corporations.

“I am thrilled to welcome Gagan and Mustally to Lucid as we embark on yet another calendar year of unprecedented advancement for the company,” said Sherry House, CFO, Lucid Group. “With their management and deep abilities, we are going to be equipped to more produce and keep important infrastructure inside of Lucid that will best provide our stakeholders in opposition to the backdrop of the company’s international expansion and developing demand from customers for its solutions.”

Mr. Dhingra will be accountable for main accounting, tax and inside regulate features, reporting to Ms. Dwelling. He delivers with him much more than 20 several years of practical experience in accounting and finance. Most not too long ago, he served as Main Accounting Officer at Anaplan, an organization application organization where he was dependable for accounting, tax, treasury, stock administration and procurement features. Prior to Anaplan, Gagan labored in a variety of management roles with elevated obligations at international corporations, which include Seagate, McKesson, and Ernst & Younger.

Mr. Hussain, also reporting to the CFO, will offer strategic management to the Treasury, Risk and Monetary Providers features, He will be liable for money marketplaces pursuits, banking relationships, worldwide cash administration, economical threat administration, global insurance, and economic solutions which includes consumer financial loans and leases. Also, he will concentrate on doing the job capital management and assistance assure ongoing improvement of the balance sheet and dollars flow with responsibility for optimizing the firm’s capital construction. Most just lately, he served as Vice President & Treasurer at Herc Holdings Inc. and in leadership roles at Hyundai Cash The united states and Countrywide Grid.

Tale continues

About Lucid Team
Lucid’s mission is to encourage the adoption of sustainable vitality by making sophisticated technologies and the most fascinating luxurious electric powered automobiles centered around the human encounter. The firm’s first car, Lucid Air, is a state-of-the-artwork luxury sedan with a California-encouraged style that capabilities high-class complete-measurement interior space in a mid-dimension exterior footprint. Underpinned by race-tested battery know-how and proprietary powertrains developed completely in-household, Lucid Air was named the 2022 MotorTrend Auto of the Year®. The Lucid Air Dream Version capabilities an formal EPA believed 520 miles of array or 1,111 horsepower. Customer deliveries of Lucid Air, which is made at Lucid’s new manufacturing unit in Casa Grande, Arizona, are underway.

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Ahead-Looking Statements
This communication incorporates “forward-hunting statements” inside the that means of the “safe and sound harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. Forward-seeking statements might be identified by the use of phrases this kind of as “estimate,” “approach,” “job,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “consider,” “look for,” “focus on,” “keep on,” “could,” “could,” “may,” “feasible,” “opportunity,” “predict” or other equivalent expressions that forecast or indicate upcoming situations or traits or that are not statements of historical specifics. These forward-seeking statements incorporate, but are not minimal to, statements concerning the Firm’s anticipations related to the generation and deliveries of the Lucid Air and Lucid Gravity, the efficiency, assortment, and other capabilities of the Lucid Air, design and enlargement of the Firm’s AMP-1 production facility, the assure of the Company’s engineering, and the Company’s skill to produce, sustain, and boost essential processes and infrastructure. These statements are based mostly on many assumptions, and true functions and conditions could vary. Forward-looking statements are topic to a amount of risks and uncertainties, together with variables mentioned in the Company’s Quarterly Report on Sort 10-Q for the quarter ended September 30, 2021 less than the heading “Danger Factors,” as very well as other documents of the Firm that are filed, or will be submitted, with the Securities and Trade Fee. If any of these challenges materialize or the Company’s assumptions establish incorrect, actual benefits could vary materially from the success implied by these forward-searching statements. There might be more challenges that the Firm does not presently know or that the Organization at the moment believes are immaterial that could also cause precise final results to differ from those people contained in the forward-wanting statements. In addition, forward-searching statements mirror the Company’s expectations, options or forecasts of long term activities and sights as of the date of this communication. However, although the Corporation may well elect to update these ahead-on the lookout statements at some level in the potential, the Firm specially disclaims any obligation to do so. These ahead-searching statements really should not be relied on as symbolizing the Company’s assessments as of any date subsequent to the date of this conversation.

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