Management Expectations

• Remain disciplined on inventory management and incentive spend, supported by our strategic portfolio of products.
• Continue to introduce compelling and appealing vehicles that are more profitable than the outgoing models, including our most affordable entries.
• Targeting to produce and wholesale ~200K EVs in 2024.
• Expect positive EV variable profit in Q4’24.
• On track to achieve our net $2B fixed cost reduction program by the end of this year.
• Expect to drive consistently strong results in 2024 and expect 2025 to be in a similar range.
• Expect $2-4B EV profitability tailwind in 2025.
• Continue to consistently return excess free cash flow to shareholders, expect to be under 1B shares in early 2025.