July 7, 2022

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Lucid Group Announces Critical Leadership Appointments to Finance Staff Signals Readiness for Progress in 2022

Additions of Gagan Dhingra, VP of Accounting and Principal Accounting Officer, and Mustally Hussain, Handling Director, Global Treasurer and Head of Economical Services, bolster monetary arm of Lucid as a swiftly increasing public corporation

NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ — Lucid Group (NASDAQ: LCID), which is setting new requirements with its innovative luxurious electric cars (EVs), currently announced the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Handling Director, World-wide Treasurer and Head of Fiscal Expert services. Alongside one another, they carry many years of strategic management practical experience in developing accounting and money capabilities at various multi-national companies.

Lucid Team (NASDAQ: LCID) currently declared the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Taking care of Director, World wide Treasurer and Head of Economical Products and services.

“I am thrilled to welcome Gagan and Mustally to Lucid as we embark on another year of unparalleled advancement for the organization,” explained Sherry Household, CFO, Lucid Group. “With their management and deep expertise, we are going to be able to further produce and maintain important infrastructure inside Lucid that will greatest serve our stakeholders in opposition to the backdrop of the company’s world-wide growth and developing demand from customers for its solutions.”

Mr. Dhingra will be responsible for main accounting, tax and internal regulate features, reporting to Ms. House. He brings with him a lot more than 20 decades of expertise in accounting and finance. Most just lately, he served as Chief Accounting Officer at Anaplan, an business program firm wherever he was liable for accounting, tax, treasury, stock administration and procurement functions. Prior to Anaplan, Gagan worked in various management roles with improved responsibilities at world wide corporations, including Seagate, McKesson, and Ernst & Youthful.

Mr. Hussain, also reporting to the CFO, will deliver strategic leadership to the Treasury, Threat and Monetary Services functions, He will be liable for capital markets functions, banking associations, world hard cash management, financial danger administration, global insurance policies, and fiscal products and services such as customer financial loans and leases. Furthermore, he will concentrate on doing work money management and enable ensure continuous improvement of the stability sheet and money flow with responsibility for optimizing the firm’s money composition. Most just lately, he served as Vice President & Treasurer at Herc Holdings Inc. and in leadership roles at Hyundai Capital The united states and Nationwide Grid.

About Lucid Group
Lucid’s mission is to inspire the adoption of sustainable power by developing sophisticated systems and the most fascinating luxury electric powered automobiles centered about the human encounter. The company’s very first car or truck, Lucid Air, is a point out-of-the-artwork luxury sedan with a California-encouraged style that attributes deluxe comprehensive-dimension interior space in a mid-sizing exterior footprint. Underpinned by race-proven battery engineering and proprietary powertrains produced completely in-dwelling, Lucid Air was named the 2022 MotorTrend Car of the Year®. The Lucid Air Desire Version options an formal EPA approximated 520 miles of array or 1,111 horsepower. Purchaser deliveries of Lucid Air, which is created at Lucid’s new manufacturing facility in Casa Grande, Arizona, are underway.

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Ahead-Looking Statements
This interaction features “forward-wanting statements” in just the that means of the “risk-free harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-wanting statements could be recognized by the use of words such as “estimate,” “system,” “undertaking,” “forecast,” “intend,” “will,” “be expecting,” “anticipate,” “imagine,” “find,” “goal,” “carry on,” “could,” “could,” “may well,” “doable,” “opportunity,” “predict” or other related expressions that forecast or reveal foreseeable future events or traits or that are not statements of historic details. These forward-seeking statements consist of, but are not limited to, statements with regards to the Firm’s expectations related to the generation and deliveries of the Lucid Air and Lucid Gravity, the overall performance, vary, and other features of the Lucid Air, design and expansion of the Firm’s AMP-1 production facility, the assure of the Company’s technological innovation, and the Company’s means to create, retain, and make improvements to significant processes and infrastructure. These statements are based mostly on different assumptions, and real events and circumstances may possibly vary. Forward-wanting statements are topic to a number of dangers and uncertainties, which includes variables reviewed in the Firm’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 beneath the heading “Hazard Factors,” as very well as other paperwork of the Business that are submitted, or will be filed, with the Securities and Trade Commission. If any of these challenges materialize or the Company’s assumptions confirm incorrect, genuine benefits could differ materially from the final results implied by these forward-searching statements. There could be extra dangers that the Firm does not presently know or that the Enterprise at this time believes are immaterial that could also cause genuine final results to vary from those people contained in the ahead-on the lookout statements. In addition, ahead-seeking statements mirror the Firm’s expectations, strategies or forecasts of foreseeable future occasions and sights as of the date of this conversation. Having said that, although the Company could elect to update these ahead-on the lookout statements at some position in the future, the Corporation specifically disclaims any obligation to do so. These ahead-seeking statements should really not be relied on as symbolizing the Company’s assessments as of any date subsequent to the day of this interaction.

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