Company: PLSAY
Filing Date: 2025-09-03
Form Type: 6-K
Source: 0001884082-25-000020
Chunk: 10

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-09-03
Form: 6-K
Chunk 10
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 align='center'>F-13

Notes to the Unaudited Condensed Consolidated Financial Statements

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

| Other operating expense                          |     |        |     |        |
| Restructuring costs1                             |     | 13,629 |     |      — |
| Non-income tax expense                           |     |  1,235 |     |    242 |
| Transition services to Polestar Times Technology |     |    947 |     |  4,143 |
| Other operating expenses                         |     |  4,522 |     |  8,432 |
| Total other operating expense                    |     | 20,333 |     | 12,817 |

1 - The restructuring costs are primarily related to severance costs.

Note 6 - Investment in associates

On June 19, 2023, Polestar entered into a strategic agreement with the technology company, Xingji Meizu, a limited liability company and subsidiary of DreamSmart Technology Pte. Ltd ("DreamSmart"), to combine Polestar's capabilities of design and performance with the software and consumer electronics hardware development expertise of Xingji Meizu for the purpose of expanding the commercial operations and sale of Polestar vehicles in China. Xingji Meizu and DreamSmart are related parties. The strategic agreement resulted in the inception of Polestar Times Technology (Shaoxing) Co., Ltd. ("Polestar Technology"). In January 2024, Polestar Technology, selected Nanjing as its final province of registration and was renamed to Polestar Times Technology (Nanjing) Co., Ltd ("Polestar Times Technology"). Refer to Note 10 - Investment in associates included in the 2024 Consolidated Financial Statements for more information related to Polestar Times Technology.

On April 10, 2025, Polestar entered into an agreement with Xingji Meizu to terminate commercial operations of its investment in Polestar Times Technology in China, and transfer the distribution rights related to Polestar branded vehicles back to Polestar. As part of the agreement, Polestar Times Technology will continue certain non-commercial operations while winding down commercial activities. Polestar Times Technology will take sole responsibility for settlement of any outstanding financial obligations and remaining liabilities against its business partners, suppliers, and external investors. The agreement also includes the transfer of certain assets from Polestar Times Technology back to Polestar on an arms-length terms in order for Polestar to resume exclusive control of commercial operations,