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EX-99

2 q2fy26ex991-productionandd.htm

EX-99.1

Document

Exhibit 99.1

Lucid Announces Q2 Production and Deliveries, Leadership Actions to Improve Execution

Company simplifies leadership structure and appoints key leaders across finance, technology, customer, transformation and digital functions

NEWARK, CA — July 2, 2026 — Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced software-defined vehicles and technologies, today announced production and delivery totals for the quarter ended June 30, 2026. During this period, the company produced 4,774 vehicles and delivered 3,953 vehicles.1

Lucid also announced organizational and leadership changes under CEO Silvio Napoli designed to simplify the company’s structure, sharpen accountability and improve execution. The changes halve the number of direct reports to the CEO.

“We are simplifying the organization, strengthening leadership, enforcing accountability and aligning our structure with the priorities that matter most: customers, quality, and innovation,” said Silvio Napoli, CEO of Lucid. “The caliber of leaders who are joining the Lucid leadership team is a testament to the inherent value of our business and to the exciting prospects ahead of us. We are building a new team who will transform the company.”

The following appointments to the Lucid Global Leadership Team were announced today:

•Alexander De Bock will join Lucid as incoming Chief Financial Officer. He brings more than two decades of automotive finance leadership, including serving as CFO of TI Automotive, where he helped lead a turnaround focused on cost transformation, restructuring and improved financial rigor. De Bock joins Lucid with deep expertise in driving financial discipline and performance in complex global organizations.

•Raja Ramana Macha will join Lucid as Chief Technology Officer with responsibility for the company’s technology strategy and engineering execution. He most recently served as Executive Vice President and Chief Technology Officer at Eaton, where he led global innovation and technology development across multiple sectors, including automotive. Macha brings extensive experience in scaling innovation and aligning engineering with business outcomes.

•Billy Hayes will join Lucid’s executive team as Chief Customer Officer, effective immediately, with enterprise accountability for customer experience, including sales, service and marketing, as well as regional P&L responsibility for the U.S., Middle East and Europe. He brings more than 25 years of global automotive experience, including senior leadership roles at Nissan and Stellantis. Hayes is focused on transforming customer experience and driving commercial performance across markets.

•Hugo Martinho will join Lucid as Chief Transformation Officer, effective August 1, leading enterprise-wide transformation initiatives to accelerate execution and increase accountability. He will oversee the new Lucid Business Process function, focused on building a more integrated and efficient operating model across markets and functions. Martinho brings more than 20 years of global industrial experience from the Schindler Group, where he most recently served as global head of HR.

•Kay Stepper has been named President of Lucid Technologies and Chief Digital Officer, effective immediately, with accountability for robotaxis, AI, autonomy, ADAS, and enterprise IT. He will lead Lucid Technologies which will become a distinct business unit focused on strategic partnerships and advanced technologies to accelerate shareholder value creation in this high growth, fast changing sector. Stepper brings more than 25 years of experience across the automotive and technology sectors, including leadership roles at Bosch and Qualcomm.

•Christian Appel has been promoted to Vice President, Program Management, effective immediately, with responsibility for platform program delivery and product portfolio management. Since joining Lucid in April 2025, he has led global production control and planning at Lucid’s AMP-1 manufacturing facility in Arizona. Appel brings more than 15 years of automotive experience and a strong track record in execution and operational coordination.

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The new Global Leadership Team will come together at the company’s head offices and manufacturing hubs, with the resolve to foster closer collaboration, faster decision-making and a more integrated operating culture.

As part of the leadership transition announced today, Taoufiq Boussaid, Chief Financial Officer, will depart Lucid following a handover to his successor and will support the company through its second-quarter results. “We thank Taoufiq for his important contributions and wish him continued success,” said Napoli.

These actions build on measures announced last week to reduce organizational complexity, align manufacturing capacity with market demand and improve overall competitiveness.

Q2 Conference Call

Lucid will host a conference call to discuss i

EX-99.1

2 q1fy26ex991earnings.htm

EX-99.1

Document

Exhibit 99.1

Lucid Announces First Quarter 2026 Financial Results

Financial Highlights

•Produced 5,500 vehicles, up 149% from the first quarter of 2025

•Delivered 3,093 vehicles in Q1 2026, with January and March deliveries each ahead of prior-year periods; February delivery timing was affected by a supplier issue resolved during the quarter. Total order intake in North America rose 144% in March 2026 from the prior month

•Generated Q1 2026 revenue of $282.5 million, up 20% compared to Q1 2025

•On April 14, announced a total capital raise of approximately $1.05 billion, including:

◦$550 million in convertible preferred stock issued to Ayar Third Investment Company, an affiliate of the Public Investment Fund (PIF),

◦$300 million in gross proceeds from a registered offering of common stock, and

◦$200 million in equity investment of common stock from Uber, increasing Uber’s total investment in Lucid to $500 million.

•Increased the Delayed Draw Term Loan (DDTL) provided by PIF by $500 million, drawing $500 million in cash in April while retaining approximately $2.0 billion in remaining undrawn capacity

•Ended the quarter with approximately $3.2 billion in liquidity. On a pro forma basis, after the capital raise and the increased DDTL, Lucid’s total liquidity at quarter-end amounts to approximately $4.7 billion

Operational Highlights

•On April 14, announced global industrial leader Silvio Napoli as Lucid’s next CEO, with Interim CEO Marc Winterhoff continuing with Lucid in his former position as COO upon Napoli assuming the CEO role

•On April 14, expanded Lucid’s robotaxi partnership with Uber to a total of at least 35,000 vehicles, including Lucid Gravity and Lucid Midsize vehicles. Achieved other milestones in the partnership with Uber and Nuro:

◦Completed delivery of all Lucid Gravity robotaxi alpha test vehicles during the quarter

◦Employees at partner companies commenced taking test rides utilizing the Uber app

◦Nuro secured its California DMV permit for driverless testing in April, paving the way for the opening of driverless robotaxi operations to the public later this year

◦Continued on-road testing in preparation for commercial launch of robotaxi service later this year

•Announced Lucid’s first-ever authorized retail and service partner in Europe, diversifying the company’s revenue base through a cost-efficient approach

•In April, Lucid Gravity SUV was named 2026 World Luxury Car of the Year

NEWARK, Calif. — May 5, 2026 — Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced software-defined vehicles and technologies, today announced financial results for its first quarter ended March 31, 2026. The earnings presentation is available on its investor relations website (https://ir.lucidmotors.com).

The Company produced 5,500 vehicles and delivered 3,093 vehicles in the first quarter of 2026. During the quarter, a seat supplier issue was identified that significantly affected Lucid Gravity deliveries in February. We addressed these issues and sales performance in March increased by 14% compared to March 2025. Lucid is taking further steps to align production with anticipated deliveries and customer demand.

Lucid reported first quarter revenue of $282.5 million and ended the quarter with approximately $3.2 billion in total liquidity. On a pro forma basis for the April capital raise and expanded DDTL, total liquidity at quarter-end would have been approximately $4.7 billion.

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“First quarter results demonstrated the strength of our technology and product portfolio. A supplier issue resolved during the quarter had an impact, but January and March deliveries were ahead of the same periods in the prior year,” said Marc Winterhoff, Interim Chief Executive Officer at Lucid. “We expanded strategic partnerships, including with Uber, and continued to advance our autonomy roadmap. We are executing with focus across operations, aligning production and delivery with customer demand. With the announcement of Silvio Napoli as our next Chief Executive Officer, we are entering Lucid's next growth phase with a clear mandate: to accelerate toward financial self-sufficiency while delivering industry-leading innovation and customer experience.”

“We strengthened our balance sheet with over $1 billion in new capital and expanded strategic partnerships that enhance long-term revenue visibility” said Taoufiq Boussaid, Chief Financial Officer at Lucid. “We ended the quarter with elevated inventory that we expect to convert to revenue and cash as deliveries normalize, while maintaining alignment between production and sales cadence. Our focus is on disciplined execution — driving structural cost improvements, managing capital efficiently, and improving operating leverage as we scale. These actions build the foundation for profitable growth as we scale production, expand our customer base, and capture the commercial opportunity ahead.”

Lucid