Lucid Group Announces Essential Management Appointments to Finance Group Alerts Readiness for Advancement in 2022

Additions of Gagan Dhingra, VP of Accounting and Principal Accounting Officer, and Mustally Hussain, Taking care of Director, Global Treasurer and Head of Fiscal Providers, fortify economical arm of Lucid as a quickly escalating public firm

NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ — Lucid Team (NASDAQ: LCID), which is location new standards with its state-of-the-art luxury electrical autos (EVs), today announced the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Running Director, Worldwide Treasurer and Head of Economical Products and services. Alongside one another, they bring a long time of strategic management knowledge in creating accounting and financial capabilities at several multi-national corporations.

Lucid Group (NASDAQ: LCID) these days announced the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Running Director, Worldwide Treasurer and Head of Monetary Expert services.

“I am thrilled to welcome Gagan and Mustally to Lucid as we embark on yet another 12 months of unparalleled progress for the organization,” reported Sherry House, CFO, Lucid Group. “With their leadership and deep abilities, we are going to be capable to even more create and sustain essential infrastructure within Lucid that will most effective serve our stakeholders versus the backdrop of the company’s world expansion and increasing demand for its goods.”

Mr. Dhingra will be liable for primary accounting, tax and internal command capabilities, reporting to Ms. Dwelling. He brings with him additional than 20 decades of expertise in accounting and finance. Most lately, he served as Chief Accounting Officer at Anaplan, an organization application corporation where by he was liable for accounting, tax, treasury, stock administration and procurement functions. Prior to Anaplan, Gagan labored in different leadership roles with greater tasks at world-wide organizations, including Seagate, McKesson, and Ernst & Youthful.

Mr. Hussain, also reporting to the CFO, will supply strategic management to the Treasury, Risk and Economical Providers capabilities, He will be accountable for funds marketplaces functions, banking relationships, world wide funds administration, fiscal hazard management, international coverage, and money companies which includes buyer loans and leases. On top of that, he will aim on performing funds administration and assistance ensure constant improvement of the equilibrium sheet and income movement with responsibility for optimizing the firm’s capital composition. Most a short while ago, he served as Vice President & Treasurer at Herc Holdings Inc. and in management roles at Hyundai Funds America and National Grid.

About Lucid Team
Lucid’s mission is to encourage the adoption of sustainable vitality by developing state-of-the-art systems and the most charming luxurious electrical cars centered all over the human experience. The firm’s initial auto, Lucid Air, is a condition-of-the-artwork luxurious sedan with a California-influenced design that attributes deluxe whole-dimensions interior house in a mid-sizing exterior footprint. Underpinned by race-demonstrated battery technologies and proprietary powertrains made fully in-home, Lucid Air was named the 2022 MotorTrend Car of the Year®. The Lucid Air Dream Edition options an official EPA believed 520 miles of selection or 1,111 horsepower. Shopper deliveries of Lucid Air, which is manufactured at Lucid’s new factory in Casa Grande, Arizona, are underway.

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Forward-Searching Statements
This interaction incorporates “ahead-hunting statements” in just the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements could be determined by the use of terms this sort of as “estimate,” “prepare,” “challenge,” “forecast,” “intend,” “will,” “count on,” “anticipate,” “imagine,” “search for,” “concentrate on,” “continue,” “could,” “may,” “may well,” “possible,” “potential,” “forecast” or other equivalent expressions that predict or show long term situations or traits or that are not statements of historic details. These forward-wanting statements consist of, but are not limited to, statements pertaining to the Firm’s expectations related to the creation and deliveries of the Lucid Air and Lucid Gravity, the performance, selection, and other options of the Lucid Air, design and enlargement of the Company’s AMP-1 producing facility, the assure of the Company’s engineering, and the Company’s potential to produce, sustain, and boost vital procedures and infrastructure. These statements are based mostly on many assumptions, and true activities and situations may perhaps vary. Forward-seeking statements are issue to a selection of risks and uncertainties, which includes things talked about in the Firm’s Quarterly Report on Type 10-Q for the quarter ended September 30, 2021 less than the heading “Risk Variables,” as well as other documents of the Firm that are submitted, or will be submitted, with the Securities and Trade Commission. If any of these threats materialize or the Company’s assumptions prove incorrect, true success could differ materially from the final results implied by these ahead-seeking statements. There may be supplemental dangers that the Enterprise does not presently know or that the Corporation at present thinks are immaterial that could also lead to actual results to differ from these contained in the ahead-on the lookout statements. In addition, forward-looking statements replicate the Firm’s anticipations, designs or forecasts of future situations and sights as of the day of this interaction. Having said that, when the Corporation may elect to update these forward-wanting statements at some point in the long run, the Company exclusively disclaims any obligation to do so. These forward-seeking statements should not be relied upon as representing the Company’s assessments as of any day subsequent to the date of this conversation.



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