Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 205

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 205
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 the occurrence of any initial public offering, combination with a special purpose acquisition company, or direct listing, (3) a liquidation of the Former Group, or (4) the non-occurrence of any of the preceding events by the 24-month anniversary of the issuance of the Convertible Notes. The second conversion event was satisfied on June 23, 2022 in connection with the merger with GGI and the Convertible Notes were converted into 4,306,466Class A Shares in the Parent, resulting in a reclassification of par value within equity from Other contributed capital to Share capital.

Currency translation reserve

The currency translation reserve comprises exchange rate differences resulting from the translation of financial reports of foreign operations that have prepared their financial reports in a currency other than Polestar Group’s reporting currency.

Accumulated deficit

Accumulated deficit comprises Net loss for the year and preceding years less any profits distributed. Accumulated deficit also includes the effects of business combinations under common control within Polestar Group.

Note 23 - Current and non-current provisions

Changes in the Group’s current and non-current provisions were as follows:

|                                                                  |     | Warranties |         |     | Employee benefits |         |     | Litigation |        |     | Other |         |     | Total |         |
| Balance as of January 1, 2022 - (Restated)                       |     |            |  56,795 |     |                   |   7,628 |     |            |      — |     |       |   4,570 |     |       |  68,993 |
| Additions - (Restated)                                           |     |            | 106,680 |     |                   |  14,590 |     |            |      — |     |       |   9,270 |     |       | 130,540 |
| Utilization - (Restated)                                         |     |            | -20,131 |     |                   |  -7,978 |     |            |      — |     |       |  -9,354 |     |       | -37,463 |
| Reversals - (Restated)                                           |     |            | -10,823 |     |                   |    -192 |     |            |      — |     |       |     -17 |     |       | -11,032 |
| Unwinding of discount and effect in changes due to discount rate |     |            |  -