Lucid Team Announces Essential Leadership Appointments to Finance Staff Signals Readiness for Expansion in 2022

Additions of Gagan Dhingra, VP of Accounting and Principal Accounting Officer, and Mustally Hussain, Managing Director, Worldwide Treasurer and Head of Fiscal Solutions, reinforce monetary arm of Lucid as a rapidly escalating community company

NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ — Lucid Team (NASDAQ: LCID), which is placing new criteria with its highly developed luxurious electrical motor vehicles (EVs), now declared the appointment of Gagan Dhingra as Vice President of Accounting and Principal Accounting Officer, and Mustally Hussain as Running Director, Global Treasurer and Head of Economic Solutions. Collectively, they provide decades of strategic leadership experience in setting up accounting and financial functions at different multi-nationwide businesses.

“I am thrilled to welcome Gagan and Mustally to Lucid as we embark on an additional calendar year of unparalleled expansion for the organization,” said Sherry Residence, CFO, Lucid Group. “With their leadership and deep skills, we are going to be able to further create and retain significant infrastructure within Lucid that will ideal serve our stakeholders towards the backdrop of the company’s world wide growth and escalating demand from customers for its items.”

Mr. Dhingra will be liable for foremost accounting, tax and inner management features, reporting to Ms. Dwelling. He brings with him extra than 20 many years of encounter in accounting and finance. Most not long ago, he served as Chief Accounting Officer at Anaplan, an company software program business wherever he was accountable for accounting, tax, treasury, stock administration and procurement capabilities. Prior to Anaplan, Gagan labored in several leadership roles with improved duties at international corporations, together with Seagate, McKesson, and Ernst & Young.

Mr. Hussain, also reporting to the CFO, will deliver strategic management to the Treasury, Possibility and Economic Products and services functions, He will be dependable for money markets pursuits, banking interactions, global money administration, money threat administration, world insurance coverage, and economical services which include shopper financial loans and leases. On top of that, he will target on functioning money management and assistance make sure continual advancement of the balance sheet and money movement with responsibility for optimizing the firm’s funds framework. Most lately, he served as Vice President & Treasurer at Herc Holdings Inc. and in management roles at Hyundai Funds America and National Grid.

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About Lucid Team
Lucid’s mission is to encourage the adoption of sustainable strength by creating innovative technologies and the most captivating luxury electrical automobiles centered close to the human expertise. The company’s first automobile, Lucid Air, is a state-of-the-art luxury sedan with a California-motivated structure that capabilities magnificent whole-dimensions inside house in a mid-measurement exterior footprint. Underpinned by race-confirmed battery know-how and proprietary powertrains made fully in-dwelling, Lucid Air was named the 2022 MotorTrend Motor vehicle of the Year®. The Lucid Air Desire Edition features an formal EPA approximated 520 miles of variety or 1,111 horsepower. Shopper deliveries of Lucid Air, which is generated at Lucid’s new manufacturing facility in Casa Grande, Arizona, are underway.

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Forward-Wanting Statements
This interaction contains “forward-on the lookout statements” inside the which means of the “safe and sound harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-hunting statements could be discovered by the use of terms these types of as “estimate,” “prepare,” “project,” “forecast,” “intend,” “will,” “anticipate,” “anticipate,” “believe,” “search for,” “goal,” “continue on,” “could,” “may possibly,” “might,” “attainable,” “possible,” “forecast” or other comparable expressions that predict or point out foreseeable future gatherings or trends or that are not statements of historical specifics. These ahead-looking statements incorporate, but are not restricted to, statements regarding the Company’s anticipations related to the production and deliveries of the Lucid Air and Lucid Gravity, the efficiency, array, and other characteristics of the Lucid Air, building and expansion of the Company’s AMP-1 manufacturing facility, the assure of the Company’s technology, and the Company’s ability to acquire, retain, and increase critical processes and infrastructure. These statements are based on various assumptions, and precise occasions and situations may perhaps vary. Ahead-on the lookout statements are topic to a number of dangers and uncertainties, such as things discussed in the Company’s Quarterly Report on Sort 10-Q for the quarter finished September 30, 2021 less than the heading “Hazard Variables,” as nicely as other documents of the Company that are submitted, or will be filed, with the Securities and Exchange Fee. If any of these hazards materialize or the Company’s assumptions show incorrect, genuine results could vary materially from the effects implied by these forward-hunting statements. There might be additional pitfalls that the Corporation does not presently know or that the Corporation currently believes are immaterial that could also lead to genuine outcomes to vary from those contained in the forward-seeking statements. In addition, ahead-on the lookout statements mirror the Company’s anticipations, designs or forecasts of long term occasions and views as of the day of this communication. Having said that, even though the Business could elect to update these forward-looking statements at some point in the long run, the Firm specifically disclaims any obligation to do so. These forward-looking statements must not be relied on as symbolizing the Company’s assessments as of any date subsequent to the date of this interaction.

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