Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 118

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 118
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 change in working capital by:

◦ comparing forecasted vehicles volumes to industry analyst coverage.

◦ comparing the assumptions used in the forecasts to the Company’s historical trends in forecasted sales volume, revenue per car, gross profit (loss) per car and capital expenditure.

◦ comparing forecasted revenue, profitability margin, and capital expenditure assumptions to preliminary recorded results from subsequent periods.

• With the assistance of our valuation specialists, we evaluated the discount rate, including testing the underlying source information and the mathematical accuracy of the calculations, and developing a range of independent estimates and comparing those to the discount rate selected by management.

• We evaluated management’s ability to accurately forecast revenue, volumes, EBITDA margins, change in working capital by comparing actual results to management’s historical forecasts, the Company’s historical results, external analyst reports and internal communications to management and the Board of Directors.

• With the assistance of our valuation specialists, we further evaluated the Company’s sensitivity analysis by comparing to our own sensitivity analysis to corroborate the disclosures around assumptions that are most sensitive to a reasonably possible change that could cause the carrying amount to exceed its recoverable amount for a cash generating unit.

/s/ Deloitte AB

Gothenburg, Sweden

August 14, 2024 (April 23, 2025 as to the effects of the current restatement discussed in Notes 2 and 31)

We have served as the Company's auditor since 2021.

<div align='center'>F-5

Polestar Automotive Holding UK PLC

Consolidated Statement of Loss and Comprehensive Loss

(in thousands of U.S. dollars except per share data and unless otherwise stated)</div>

| Consolidated Statement of Loss                                                     |     |     | Note |    | For the year ended December 31, |       2023 |     |             |       2022 |     |             |       2021 |
|:-----------------------------------------------------------------------------------|:----|:----|:-----|---:|:--------------------------------|-----------:|:----|:------------|-----------:|:----|:------------|-----------:|
|                                                                                    |     |     |      |    | (Restated)1                     |            |     | (Restated)1 |            |     | (Restated)1 |            |
| Revenue                                                                            |     |     |      |  4 |                                 |  2,368,085 |     |             |  2,440,818 |     |             |  1,343,