Company: PLSAY
Filing Date: 2025-07-01
Form Type: 6-K/A
Source: 0001884082-25-000014
Chunk: 61

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-07-01
Form: 6-K/A
Chunk 61
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376.

(iv) Other - Reclassifications

The errors identified in the Other - Reclassifications category encompass errors arising from misallocations of assets and liabilities between different financial statement captions and misallocations of assets and liabilities between current and non-current. The most significant adjustments in this category include non-current reclassification misstatements related to certain buyback liabilities, an error in lease asset and liability in the United Kingdom, a reclassification of internally developed IP to software, and a reclassification of goods received not invoiced from trade payables to other current liabilities. There is a marginal impact to the Unaudited Condensed Consolidated Statement of Loss and Comprehensive Loss (as restated) due to reclassifications relating to lease expense reversals upon the reclassification of a lease liability to a financing obligation in Korea.

(v) Deferred Taxes and Income Taxes

The errors identified in the Deferred Taxes and Income Taxes category encompass errors relating to the recognition, measurement, and reporting of the Group’s deferred tax assets, deferred tax liabilities, and income tax expenses. These errors include improper estimation of deferred tax amounts, errors in tax calculations, and errors pertaining to the treatment of value added tax. The most significant transactions in this category include incorrect recognition of deferred tax assets and deferred liabilities at the Sweden tax rate, instead of the local market rate, and incorrect recording of deferred taxes and income tax expense in North America resulting from the other misstatement categories explained. The tax impact of all misstatement corrections has also been recognized. The impact to the Unaudited Condensed Consolidated Statement of Loss and Comprehensive Loss (as restated) of the tax related error corrections and the tax effect of the other error corrections was an increase in the loss of $ 4,330.

Current Restatement

Subsequent to the issuance of the Unaudited Condensed Consolidated Financial Statements included within the Form 6-K for the six months ended June 30, 2024, management identified misstatements in connection with the preparation of our Consolidated Financial Statements as of and for the year ended December 31, 2024 that warranted the restatement of the interim 2024 Unaudited Condensed Consolidated Financial Statements. The Current Restatement relates to the following misstatements:

(vi) Unique Tooling Assets Under Construction

<div align='center'>F-27

Notes to the Unaudited Condensed Consolidated Financial Statements

(in thousands of U.S. dollars unless otherwise stated)</div>

This error is the primary reason for the restatement decision. The Company