Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 395

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 395
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17,920                       
  Class C-2 Shares converted to Class C-1 Shares      3,285                        
  Change in fair value measurement                    ( 16,285)                    
  As of December 31, 2023                             $                     4,920  
  Change in fair value measurement                    ( 2,050)                     
  As of December 31, 2024                             $                     2,870  

                             Class C-2 Shares  
  As of January 1, 2023      10,080            

F-51

T able of Contents

  Class C-2 Shares converted to Class C-1 Shares      ( 3,285)  
  Change in fair value measurement                    ( 5,715)  
  As of December 31, 2023                             $         
  Change in fair value measurement                    ( 450)    
  As of December 31, 2024                             $         

The fair value change for Class C Shares are as follows:

                                            For the year ended December 31,                                                             
                                                                       2024                   2023                    2022              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Fair value change - Class C-1 Shares                                2,050                 13,000                  22,400              
  Fair value change - Class C-2 Shares                                  450                  9,000                  12,690              
  Fair value change - Class C Shares                                      $      2,500           $      22,000           $      35,090  

Earn-out rights

On the Closing of the BCA, the Former Parent (or the shareholders of the Former Parent if the Former Parent is dissolved or liquidated) was issued a contingent right to receive earn-outs of up to 24,078,638 134,098,971 five 4,815,728 26,819,794 20 30 December 23, 2022 and ending on December 23, 2028. The daily volume weighted average price of Class A Shares in Parent that is required to trigger each tranche is as follows:

•Tranche 1 - $ 13

•Tranche 2 - $ 15.50

•Tranche 3 - $ 18

•Tranche 4 - $ 20.50

•Tranche 5 - $ 23

If the daily volume weighted average price of Class A Shares