Lucid Group, Inc. — Director's Dealing 2024

Aug 20, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lucid Group, Inc. (LCID)
CIK: 0001811210
Period of Report: 2024-08-16

Reporting Person: PUBLIC INVESTMENT FUND (Director, 10% Owner)
Reporting Person: Ayar Third Investment Co (Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-08-16	Series B Convertible Preferred Stock	$	P	75000	Acquired		Class A Common Stock (171236783)	Indirect

Footnotes

F1: Each share of Series B convertible preferred stock is convertible into shares of Class A common stock of Lucid Group, Inc. (the "Issuer") at the option of the holder and without the payment of additional consideration by the holder, (a) at any time that the closing price per share of the Class A common stock on the trading day immediately preceding the date on which the holder delivers the relevant notice of conversion is at least $5.50 (subject to certain adjustments), unless the Issuer otherwise consents to such conversion in its sole discretion, or (b) in all events during certain specified periods relating to a fundamental change or optional redemption by the Issuer, into such number of fully paid and non-assessable shares of Class A common stock as is determined by dividing

F2: (i) the applicable Accrued Value (as defined in the Certificate of Designation for the Series B convertible preferred stock) as of the conversion date by (ii) the applicable Conversion Price (as defined in the Certificate of Designation for the Series B convertible preferred stock) in effect as of such conversion date. The Series B convertible preferred stock is initially convertible into approximately 171,236,786 shares of Class A common stock in the aggregate, at an initial conversion price of $3.5952 per share.

F3: Ayar Third Investment Company ("Ayar") is a wholly-owned subsidiary of The Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the Shares held by Ayar. In addition, each of Turqi A. Alnowaiser and Mr. Yasir Alsalman, the co-managers of Ayar, may be deemed to beneficially own the shares owned by Ayar by virtue of shared power to vote the shares. Neither Mr. Alnowaiser nor Mr. Alsalman has any, and each and disclaims, any pecuniary interest in the shares.