• PIF has increased their holdings an additional 400 million shares
• PIF now owns nearly 75% of Lucid Stuck
• PIF continues to back Lucid Motors

The Saudi Public Investment Fund, which has been a key investor in Lucid Motors since 2018, continues to strongly support the company as it navigates the evolving landscape of the electric vehicle market. In an impressive display of commitment, the fund has recently added to their already extensive position during the fourth quarter of 2024, demonstrating a deep belief in Lucid’s innovative technology and growth potential. This strategic move not only reinforces the fund’s confidence in Lucid’s ability to compete with established players in the automotive sector but also highlights their ambition to be at the forefront of the sustainable transportation revolution. As Lucid Motors expands its operations and product lineup, the backing from the Saudi Public Investment Fund is expected to play a crucial role in bolstering the company’s financial stability and accelerating its future developments.

In the most recent 13F filings that were reported today, it has been revealed that the Public Investment Fund (PIF) has significantly increased their position in Lucid Motors, reflecting a bold strategic move in their investment portfolio. As of 09/30/2024, the PIF held an impressive total of 1,374,700,298 shares of Lucid stock, signaling a strong belief in the company’s long-term prospects. During the fourth quarter they added a total of 396,188,386 shares. This substantial acquisition brings their total holdings to 1,770,888,684 shares, which translates to a valuation of over 5.3 billion dollars. This marks a notable increase of 28% during the fourth quarter alone but also underscores the PIF’s commitment to Lucid.

The support from the PIF not only provides financial stability but also enhances Lucid’s capability to innovate and expand within the electric vehicle market. As global demand for sustainable transportation options rises, Lucid Motors stands at the forefront, driven by cutting-edge technology and a commitment to delivering high-performance electric vehicles.

Please note that these shares are held separately and filed independently from the entity that currently owns nearly 900 million shares, which is a subsidiary of the Public Investment Fund (PIF). According to their most recent filing in November, they held a combined 64% of Lucid before the PIF acquired an additional 400 million shares in the fourth quarter. If Ayar Third Investment held their shares and added the additional 400 million shares, they would now control 78.2% of all Lucid shares.