Lucid Group Announces Essential Leadership Appointments to Finance Workforce Indicators Readiness for Development in 2022

Additions of Gagan Dhingra, VP of Accounting and Principal Accounting Officer, and Mustally Hussain, Handling Director, Worldwide Treasurer and Head of Economic Products and services, improve economic arm of Lucid as a quickly developing public company

NEWARK, Calif., Dec. 23, 2021 /PRNewswire/ — Lucid Team (NASDAQ: LCID), which is environment new specifications with its highly developed luxurious electrical vehicles (EVs), today introduced 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 Monetary Expert services. Alongside one another, they bring many years of strategic leadership experience in building accounting and economic capabilities at a variety of multi-national businesses.

Lucid Group (NASDAQ: LCID) now introduced 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 Financial Companies.

“I am thrilled to welcome Gagan and Mustally to Lucid as we embark on an additional yr of unprecedented growth for the enterprise,” stated Sherry Residence, CFO, Lucid Team. “With their management and deep expertise, we’ll be capable to further more build and sustain significant infrastructure in just Lucid that will greatest provide our stakeholders from the backdrop of the firm’s world-wide growth and growing demand from customers for its solutions.”

Mr. Dhingra will be liable for primary accounting, tax and interior regulate capabilities, reporting to Ms. Residence. He brings with him more than 20 several years of knowledge in accounting and finance. Most not long ago, he served as Main Accounting Officer at Anaplan, an organization application business where by he was responsible for accounting, tax, treasury, inventory administration and procurement capabilities. Prior to Anaplan, Gagan labored in different management roles with improved responsibilities at world businesses, including Seagate, McKesson, and Ernst & Younger.

Mr. Hussain, also reporting to the CFO, will give strategic leadership to the Treasury, Chance and Monetary Products and services features, He will be liable for capital marketplaces routines, banking relationships, world funds management, monetary threat management, worldwide insurance, and fiscal companies which includes shopper financial loans and leases. On top of that, he will emphasis on doing the job cash administration and help make certain steady improvement of the stability sheet and cash stream with responsibility for optimizing the company’s money composition. Most recently, he served as Vice President & Treasurer at Herc Holdings Inc. and in leadership roles at Hyundai Capital The usa and National Grid.

About Lucid Group
Lucid’s mission is to inspire the adoption of sustainable strength by building advanced technologies and the most captivating luxurious electrical automobiles centered around the human experience. The company’s very first auto, Lucid Air, is a point out-of-the-art luxurious sedan with a California-influenced style and design that functions deluxe total-sizing interior house in a mid-measurement exterior footprint. Underpinned by race-established battery technological know-how and proprietary powertrains created totally in-household, Lucid Air was named the 2022 MotorTrend Automobile of the Year®. The Lucid Air Aspiration Edition options an official EPA believed 520 miles of vary or 1,111 horsepower. Purchaser deliveries of Lucid Air, which is generated at Lucid’s new manufacturing facility in Casa Grande, Arizona, are underway.

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Forward-Seeking Statements
This conversation contains “ahead-wanting statements” in the this means of the “protected harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Ahead-on the lookout statements could be determined by the use of text these as “estimate,” “approach,” “job,” “forecast,” “intend,” “will,” “count on,” “anticipate,” “believe,” “look for,” “target,” “go on,” “could,” “may,” “could,” “doable,” “likely,” “predict” or other equivalent expressions that predict or indicate long run events or traits or that are not statements of historic information. These forward-seeking statements contain, but are not minimal to, statements about the Company’s expectations related to the generation and deliveries of the Lucid Air and Lucid Gravity, the functionality, selection, and other functions of the Lucid Air, development and enlargement of the Company’s AMP-1 production facility, the guarantee of the Firm’s technological know-how, and the Firm’s capacity to produce, preserve, and improve crucial procedures and infrastructure. These statements are dependent on different assumptions, and precise occasions and conditions may perhaps differ. Ahead-seeking statements are topic to a quantity of challenges and uncertainties, including variables discussed in the Firm’s Quarterly Report on Variety 10-Q for the quarter ended September 30, 2021 beneath the heading “Possibility Variables,” as perfectly as other paperwork of the Enterprise that are submitted, or will be filed, with the Securities and Trade Fee. If any of these hazards materialize or the Company’s assumptions prove incorrect, real effects could differ materially from the success implied by these forward-searching statements. There may possibly be supplemental risks that the Organization does not presently know or that the Organization at the moment believes are immaterial that could also lead to real success to vary from individuals contained in the ahead-on the lookout statements. In addition, ahead-on the lookout statements reflect the Firm’s expectations, strategies or forecasts of future occasions and sights as of the day of this conversation. However, when the Company may perhaps elect to update these ahead-on the lookout statements at some position in the future, the Firm specifically disclaims any obligation to do so. These ahead-hunting statements really should not be relied on as symbolizing the Firm’s assessments as of any day subsequent to the day of this interaction.

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