Company: PLSAY
Filing Date: 2025-04-23
Form Type: 20-F/A
Source: 0001884082-25-000005
Chunk: 124

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-04-23
Form: 20-F/A
Chunk 124
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9,000,000Class C-2 Shares in the Parent in the form of American depositary shares with effectively the same terms as the GGI Private Warrants and are exercisable for Class A Shares in the Parent;

• pursuant to the PIPE Subscription Agreements, third-party investors purchased 25,423,445Class A Shares in Parent in the form of American depositary shares and Volvo Cars purchased 1,117,390Class A Shares in Parent in the form of American depositary shares, for a total of 26,540,835Class A Shares in Parent in the form of American depositary shares for an aggregate total of $ 250,000; and

• pursuant to the Volvo Cars Preference Subscription Agreement, Volvo Cars purchased 58,882,610Preference Shares in the Parent for an aggregate total of $ 588,826which automatically converted to Class A Shares in the Parent in the form of American depositary shares thereafter.

The merger with GGI, including all related arrangements, raised net cash proceeds of $ 1,417,973. Gross proceeds of $ 638,197was assumed from GGI, $ 250,000was sourced from the PIPE Subscription Agreements, and $ 588,826was sourced from the Volvo Cars

<div align='center'>F-12</div>

Preference Subscription Agreement. Polestar incurred total transaction costs of $ 97,953in connection with the merger, of which $ 59,050had been recognized by GGI and deducted from the gross proceeds raised. The merger was accounted for as a reverse recapitalization, in accordance with the IFRS. Refer to Note 18 - Reverse recapitalization for additional information on the reverse recapitalization.

Immediately following the closing of the transaction, Parent changed its name to Polestar Automotive Holding UK PLC and began trading on the National Association of Securities Dealers Automated Quotations (“Nasdaq”) under the ticker symbol PSNY. Net loss per share was recast to retroactively reflect the shares issued by the parent to the Former Parent for December 31, 2022 and December 31, 2021. Refer to Note 14 - Net loss per share and Note 22 - Equity for additional information.

Basis of preparation

The Consolidated Financial Statements in this annual report of Polestar Group are prepared in accordance with the IFRS, issued by the IASB and UK-adopted international accounting standards. The Consolidated Financial Statements have been prepared on the historical cost basis, except for