Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 65

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 65
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 the U.S. represent Polestar’s primary geographic markets, Polestar’s presence is continuing to expand in Asia. Refer to Note 2 - Significant accounting policies and judgements in Polestar’s Consolidated Financial Statements for more information on the basis of presentation and segment reporting. The following paragraphs describe the key components of revenue, income, and expenses as presented in our Consolidated Statement of Loss.

While preparing the financial statements for the year ended December 31, 2024, we identified material errors in our financial statements primarily relating to accounting for assets under construction related to the Company's unique tooling which required restatement. As a result, certain prior period amounts have been updated to reflect the correction of the material errors. A reclassification of cash flows between operating and investing activities and other smaller immaterial errors that have been identified will also be corrected as part of this restatement process.

During the year ended December 31, 2023, we identified immaterial errors in our financial statements primarily relating to (i) accounting for Inventories, including the accounting treatment of certain launch costs, capitalizable expenses into inventory and valuation adjustments for internal use cars, (ii) accounting for accruals and deferrals, (iii) capitalization of expenses, (iv) other errors relating to reclassifications between financial statement captions and (v) deferred taxes and income taxes. As a result, certain prior period amounts have been updated to reflect the correction of the immaterial errors.

See Note 31 - Restatement of financial statements to our audited consolidated financial statements included in Item 18 of this Report for additional details.

#### Key operational highlights
|                                                            | Key metrics | For the year ended December 31, |   2023 |     |      |   2022 |     |      |   2021 |
|:-----------------------------------------------------------|:------------|--------------------------------:|-------:|:----|-----:|-------:|:----|-----:|-------:|
| Global volumes1                                            |             |                                 | 54,626 |     |      | 51,549 |     |      | 28,592 |
| Volume of external vehicles without repurchase obligations |             |                                 | 49,809 |     |      | 48,575 |     |      | 23,841 |
| Volume of external vehicles with repurchase obligations    |             |                                 |  2,859 |     |      |  1,344 |     |      |  2,836 |