Lucid Team Announces Essential Leadership Appointments to Finance Group Indicators Readiness for Expansion in 2022

Additions of Gagan Dhingra, VP of Accounting and Principal Accounting Officer, and Mustally Hussain, Controlling Director, International Treasurer and Head of Financial Solutions, fortify fiscal arm of Lucid as a swiftly escalating public firm

NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ — Lucid Group (NASDAQ: LCID), which is location new expectations with its superior luxury electrical autos (EVs), now introduced the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Managing Director, World wide Treasurer and Head of Economical Services. Alongside one another, they provide decades of strategic management knowledge in developing accounting and money features at different multi-nationwide organizations.

“I am thrilled to welcome Gagan and Mustally to Lucid as we embark on one more calendar year of unprecedented growth for the company,” reported Sherry Residence, CFO, Lucid Team. “With their management and deep experience, we are going to be equipped to more create and maintain significant infrastructure inside of Lucid that will finest provide our stakeholders versus the backdrop of the firm’s world expansion and growing need for its products and solutions.”

Mr. Dhingra will be responsible for leading accounting, tax and interior control features, reporting to Ms. Home. He brings with him more than 20 many years of working experience in accounting and finance. Most lately, he served as Main Accounting Officer at Anaplan, an company application business where by he was dependable for accounting, tax, treasury, stock administration and procurement capabilities. Prior to Anaplan, Gagan worked in many management roles with elevated obligations at world organizations, including Seagate, McKesson, and Ernst & Younger.

Mr. Hussain, also reporting to the CFO, will give strategic management to the Treasury, Hazard and Monetary Expert services capabilities, He will be accountable for cash marketplaces activities, banking associations, worldwide funds administration, economic chance management, global insurance policy, and monetary solutions including customer financial loans and leases. In addition, he will target on operating capital management and aid make certain ongoing advancement of the equilibrium sheet and cash movement with obligation for optimizing the firm’s funds framework. Most not long ago, he served as Vice President & Treasurer at Herc Holdings Inc. and in leadership roles at Hyundai Money The usa and Nationwide Grid.

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About Lucid Group
Lucid’s mission is to inspire the adoption of sustainable power by creating advanced systems and the most charming luxury electrical vehicles centered close to the human experience. The company’s very first motor vehicle, Lucid Air, is a point out-of-the-artwork luxurious sedan with a California-inspired design that characteristics magnificent complete-dimensions interior house in a mid-dimension exterior footprint. Underpinned by race-tested battery technological know-how and proprietary powertrains produced solely in-dwelling, Lucid Air was named the 2022 MotorTrend Car of the Year®. The Lucid Air Aspiration Version attributes an formal EPA estimated 520 miles of selection or 1,111 horsepower. Client deliveries of Lucid Air, which is developed at Lucid’s new factory in Casa Grande, Arizona, are underway.

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Trademarks
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Ahead-Wanting Statements
This conversation incorporates “forward-hunting statements” in just the that means of the “risk-free harbor” provisions of the United States Non-public Securities Litigation Reform Act of 1995. Forward-seeking statements could be identified by the use of terms these kinds of as “estimate,” “system,” “task,” “forecast,” “intend,” “will,” “be expecting,” “foresee,” “believe that,” “search for,” “focus on,” “proceed,” “could,” “could,” “could,” “attainable,” “prospective,” “forecast” or other equivalent expressions that forecast or point out future gatherings or trends or that are not statements of historical facts. These ahead-wanting statements consist of, but are not constrained to, statements about the Firm’s expectations linked to the manufacturing and deliveries of the Lucid Air and Lucid Gravity, the overall performance, vary, and other functions of the Lucid Air, development and growth of the Firm’s AMP-1 manufacturing facility, the promise of the Firm’s technologies, and the Firm’s potential to produce, retain, and improve crucial procedures and infrastructure. These statements are centered on different assumptions, and actual events and instances may differ. Forward-wanting statements are matter to a range of risks and uncertainties, including things talked over in the Firm’s Quarterly Report on Sort 10-Q for the quarter ended September 30, 2021 under the heading “Hazard Factors,” as properly as other paperwork of the Business that are filed, or will be filed, with the Securities and Trade Fee. If any of these dangers materialize or the Company’s assumptions show incorrect, true success could differ materially from the final results implied by these forward-wanting statements. There may be extra challenges that the Company does not presently know or that the Corporation now believes are immaterial that could also cause genuine success to vary from people contained in the forward-on the lookout statements. In addition, ahead-searching statements reflect the Firm’s expectations, plans or forecasts of long run functions and sights as of the day of this conversation. Even so, although the Business may well elect to update these forward-on the lookout statements at some position in the potential, the Firm specially disclaims any obligation to do so. These forward-on the lookout statements need to not be relied on as representing the Company’s assessments as of any date subsequent to the day of this interaction.

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