Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 204

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 204
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 issuance. Noadditional Class C Shares or Redeemable Preferred Shares were authorized for issuance.

The following instruments of Parent were issued and outstanding as of December 31, 2023:

<div align='center'>F-53</div>

• 467,976,748Class A Shares with a par value of $ 0.01, of which 220,918,695were owned by related parties;

• 1,642,233,575Class B Shares with a par value of $ 0.01, of which all were owned by related parties;

• 20,499,965Class C-1 Shares with a par value of $ 0.10;

• 4,500,000Class C-2 Shares with a par value of $ 0.10; and

• 50,000GBP Redeemable Preferred Shares with a par value of GBP 1.00.

Holders of Class A Shares in Parent are entitled to onevote per share and holders of Class B Shares in the Parent are entitled to tenvotes per share. Holders of Class C Shares in Parent are entitled to onevote per share for certain matters, but have no voting rights with respect to general matters voted on by holders of Class A Shares and Class B Shares in the Parent. Additionally, holders of GBP Redeemable Preferred Shares in the Parent have no voting rights. Any dividends or other distributions paid by the Parent shall only be issued to holders of outstanding Class A Shares and Class B Shares in the Parent. Holders of Class C Shares and GBP Redeemable Preferred Shares in the Parent are not entitled to participate in any dividends or other distributions. Refer to Note 18 - Reverse recapitalization for additional information on the Class C Shares which are accounted for as derivative financial liabilities in accordance with IAS 32 and IFRS 9.

Convertible Notes

In July 2021, Geely and two other third-parties invested $ 35,231in non-interest-bearing Convertible Notes. Of the $ 35,231, $ 9,531was held by Geely. The Convertible notes were accounted for as equity upon issuance and classified within Other contributed capital. The Convertible Notes were not eligible to receive a coupon or dividend for the first 24 months after issuance and were to convert to common shares upon (1) an issuance of equity securities in an amount greater than $ 50,000to any entity that owned more than 35% voting power in the Former Group, (2)