LCID

Cluster: Capital Structure and Liquidity

Commitment: November 17, 2025: Closed a private offering of $975.0 million aggregate principal amount of convertible senior notes due 2031 and used approximately $752.2 million of net proceeds to repurchase about $755.7 million principal of 1.25% convertible senior notes due 2026, with remaining proceeds for general corporate purposes and flexible conversion settlement (cash, stock, or combination).

✅ On Track | Certainty: 99%

Analysis: The offering closed and proceeds were used as stated, including repurchases of 2026 notes and retained flexibility on conversion settlement. This closing supersedes prior “priced” and “proposed” disclosures.

Progress:

• A recent update from 2025-11-17 confirms the $975.0M 2031 notes closed, ~$752.2M net proceeds used to repurchase ~$755.7M of 2026 notes, and remaining proceeds for general purposes (supersedes 2025-11-12 and 2025-11-11).
• Earlier evidence from 2025-11-12 detailed pricing and intended uses, now superseded by the 2025-11-17 closing.

Commitment: November 12, 2025: Priced $875.0 million (with up to $100.0 million over‑allotment) of 7.00% convertible senior notes due 2031 with semiannual interest, issuer redemption rights from November 6, 2028 (subject to triggers), a November 1, 2031 maturity, and a holder put on November 1, 2029 (superseded in outcome by the November 17 closing).

✅ On Track | Certainty: 96%

Analysis: The pricing terms were finalized and subsequently executed at closing on November 17, including full exercise of the over‑allotment option, superseding this intermediate step.

Progress:

• A recent update from 2025-11-17 confirms closing of $975.0M (reflecting full $100.0M over‑allotment), superseding the 2025-11-12 pricing step.
• Earlier evidence from 2025-11-12 shows the priced deal and intended repurchases of 2026 notes, later executed.

Commitment: November 06, 2025: Increased the undrawn delayed draw term loan facility with PIF from $750 million to approximately $2.0 billion, extending liquidity runway into the first half of 2027.

✅ On Track | Certainty: 97%

Analysis: Management reported the increase and extended runway; liquidity status corroborated in Q3 results.

Progress:

• A recent update from 2025-11-06 states the DDTL facility increased to ≈$2.0B and remained undrawn, extending runway into H1 2027.
• A recent update from 2025-11-05 reiterates total liquidity of $4.2B and the DDTL increase, supporting extended runway.

Commitment: November 05, 2025: Committed to maintain a healthy liquidity position and continue evaluating financing options, including public markets, as conditions allow.

✅ On Track | Certainty: 92%

Analysis: Actions taken on November 17 (new 2031 notes and liability management) demonstrate execution aligned with this commitment.

Progress:

• A recent update from 2025-11-17 shows active capital markets execution and liability management consistent with the commitment.
• A recent update from 2025-11-05 outlines the intent to evaluate financing options; subsequent actions substantiate follow-through.

Commitment: August 21, 2025: Executed a 1‑for‑10 reverse stock split effective August 29, 2025, reducing outstanding shares to approximately 307.3 million and authorized shares to 1.5 billion.

✅ On Track | Certainty: 98%

Analysis: Reverse split details and effective dates confirmed.

Progress:

• Earlier evidence from 2025-08-21 confirms Board approval, stockholder approval, and effective date/time for the reverse split and authorized share reduction.

Commitment: April 08, 2025: Closed $1.1 billion of convertible senior notes due 2030, with net proceeds intended for general corporate purposes and liability management consistent with prior pricing disclosure.

✅ On Track | Certainty: 99%

Analysis: Closing and use of proceeds (including repurchase of 2026 notes) confirmed.

Progress:

• Earlier evidence from 2025-04-08 confirms $1.1B 2030 notes closed, ~$935.6M used for 2026 note repurchases, and capped call transactions executed.

Commitment: April 03, 2025: Priced the 2030 notes and intended to use approximately $935.6 million of net proceeds to repurchase about $1,052.5 million principal of 2026 notes, entered capped call transactions to mitigate dilution, and supported an Ayar prepaid forward of approximately $430.0 million (all executed around the April 8 closing).

✅ On Track | Certainty: 98%

Analysis: Pricing, intended uses, capped calls, and Ayar prepaid forward were executed upon closing on April 8, which supersedes the pricing step.

Progress:

• Earlier evidence from 2025-04-08 confirms execution of repurchases and capped calls consistent with the 2025-04-03 priced terms.
• Earlier evidence from 2025-04-03 shows pricing and planned uses, now superseded by the closing.

Commitment: April 02, 2025: Announced intention to offer $1.0 billion of convertible senior notes due 2030 and to repurchase a portion of the 2026 notes with related capped call and Ayar prepaid forward transactions (subsequently executed and superseded by the April 3 pricing and April 8 closing).

✅ On Track | Certainty: 95%

Analysis: The “intention to offer” was fulfilled and superseded by pricing (April 3) and closing (April 8).

Progress:

• Earlier evidence from 2025-04-08 confirms the offering closed and related transactions executed, superseding the 2025-04-02 announcement.
• Earlier evidence from 2025-04-03 confirms pricing and intended uses consistent with the initial intent.

Cluster: Gravity Launches and Sales Activation

Commitment: November 20, 2025: Launched Lucid Gravity Touring starting at $79,900 with public debut at the Los Angeles Auto Show (Nov 21–30, 2025).

✅ On Track | Certainty: 98%

Analysis: Touring trim launch with pricing and LA Auto Show debut confirmed.

Progress:

• A recent update from 2025-11-20 confirms launch of Gravity Touring at $79,900 with LA Auto Show debut and demo drives.

Commitment: November 20, 2025: Opened customer orders with select configurations available for immediate delivery via lucidmotors.com/available-vehicles.

✅ On Track | Certainty: 98%

Analysis: Orders opened and certain configurations available immediately, indicating execution beyond prior “late 2025” expectation.

Progress:

• A recent update from 2025-11-20 confirms orders open and immediate delivery availability.

Commitment: November 20, 2025: Offered demo drives at Lucid’s South Hall activation during the LA Auto Show on a first‑come, first‑served basis (Nov 21–30, 2025).

✅ On Track | Certainty: 95%

Analysis: Demo drive program dates and logistics confirmed.

Progress:

• A recent update from 2025-11-20 details demo drives during LA Auto Show dates.

Commitment: October 11, 2025: Began customer deliveries of Lucid Gravity Grand Touring in Canada.

✅ On Track | Certainty: 96%

Analysis: Deliveries in Canada commenced as planned.

Progress:

• Earlier evidence from 2025-10-11 confirms Gravity GT deliveries in Canada began.

Commitment: September 08, 2025: Unveiled Gravity in Europe with orders open immediately and deliveries beginning early 2026.

🟡 Partially Met | Certainty: 86%

Analysis: Orders in Europe opened; deliveries are scheduled for early 2026 and have not yet occurred as of the latest updates.

Progress:

• Earlier evidence from 2025-09-08 confirms European unveiling and immediate orders, with deliveries planned early 2026 (future milestone).

Commitment: April 15, 2025: Introduced the 2026 Lucid Gravity Grand Touring priced from $94,900 with up to 450 miles of range.

✅ On Track | Certainty: 96%

Analysis: Product introduction and pricing confirmed.

Progress:

• Earlier evidence from 2025-04-15 confirms introduction, pricing, and range details.

Commitment: February 14, 2025: Opened ordering for Gravity Grand Touring in Canada starting at $134,500 CAD (now progressed to October 11, 2025 deliveries).

✅ On Track | Certainty: 96%

Analysis: Ordering opened and later progressed to actual deliveries in October.

Progress:

• Earlier evidence from 2025-02-14 confirms ordering opened in Canada.
• Earlier evidence from 2025-10-11 confirms deliveries began, advancing the commitment.

Commitment: January 28, 2025: Stated Gravity Touring models would be available to order in late 2025 at $79,900 (superseded by November 20, 2025 immediate ordering and delivery).

✅ On Track | Certainty: 95%

Analysis: The later 2025-11-20 update opened orders immediately, superseding the earlier timing guidance.

Progress:

• A recent update from 2025-11-20 confirms immediate ordering and select immediate deliveries, superseding the earlier “late 2025” plan.
• Earlier evidence from 2025-01-28 set the late‑2025 expectation for Touring orders.

Cluster: Charging and Software-Defined Vehicle Experience

Commitment: November 20, 2025: Ensured native NACS, Electrify America, and broad DC fast‑charging compatibility with Gravity, enabling up to 300 kW at 1000V (≈200 miles in 15 minutes) and up to 220 kW when using Tesla Superchargers via boost charging.

✅ On Track | Certainty: 85%

Analysis: Latest specs for Gravity Touring confirm native NACS and high‑power charging. Earlier Canadian GT messaging cited up to 400 kW peak; the November 20 Touring figures (300 kW/220 kW) likely reflect trim‑specific capabilities and supersede generic earlier claims for Touring.

Progress:

• A recent update from 2025-11-20 confirms native NACS and up to 300 kW (1000V) and up to 220 kW on Tesla Superchargers for Gravity Touring (supersedes earlier generic numbers for Touring).
• Earlier evidence from 2025-10-11 cites up to 400 kW peak charging for Gravity GT in Canada, indicating higher peak on that trim.

Commitment: November 20, 2025: Delivered Lucid UX 3.0 with ongoing over‑the‑air updates so vehicle software evolves post‑sale.

✅ On Track | Certainty: 90%

Analysis: UX 3.0 presence and ongoing OTA cadence are supported by prior product communications; continuing OTA delivery is consistent with earlier feature rollouts.

Progress:

• A recent update from 2025-11-20 references ongoing OTA updates with UX 3.0 in the Gravity Touring launch context.
• Earlier evidence from 2025-04-15 introduced Lucid UX 3.0 as part of Gravity.

Commitment: October 11, 2025: Provided Gravity owners in Canada wide access to the Tesla Supercharger network without an adapter and high‑rate charging up to 400 kW (adding over 320 km in <11 minutes at peak).

✅ On Track | Certainty: 95%

Analysis: Access and high‑rate charging metrics confirmed for Canadian GT customers.

Progress:

• Earlier evidence from 2025-10-11 confirms adapter‑free Supercharger access and high‑rate charging up to 400 kW for Gravity in Canada.

Commitment: September 08, 2025: Deployed a 926‑V architecture in Europe with a patented legacy‑charger compatibility solution and peak charging that can add up to 400 km in 14 minutes, supported by continuous OTA updates.

✅ On Track | Certainty: 90%

Analysis: European specs and OTA support confirmed; deliveries scheduled for early 2026 remain forthcoming.

Progress:

• Earlier evidence from 2025-09-08 confirms the 926‑V architecture, legacy‑charger compatibility, and rapid charging claims for Europe.

Commitment: July 22, 2025: Enabled all Lucid Air owners to access Tesla Superchargers starting July 31, 2025 using a Lucid‑approved adapter (up to 50 kW; up to ~200 miles of range per hour).

✅ On Track | Certainty: 96%

Analysis: Access went live as scheduled with specified adapter and charge rates.

Progress:

• Earlier evidence from 2025-07-22 confirms Supercharger access timeline and up to 50 kW with the Lucid‑approved adapter.

Commitment: July 15, 2025: Released an OTA that adds Hands‑Free Drive Assist and Hands‑Free Lane Change Assist to Lucid Air on July 30, with Gravity to follow later in the year.

✅ On Track | Certainty: 90%

Analysis: Air OTA features were scheduled and delivered; Gravity rollout was slated for later in 2025 (no subsequent contradiction).

Progress:

• Earlier evidence from 2025-07-15 confirms OTA features and timing (Air on July 30; Gravity to follow later).

Commitment: June 16, 2025: Began rolling out Android Auto compatibility for Lucid Air via software update.

✅ On Track | Certainty: 98%

Analysis: Android Auto OTA rollout confirmed.

Progress:

• Earlier evidence from 2025-06-16 confirms Android Auto rollout for Lucid Air.

Commitment: January 28, 2025: Highlighted patented fast‑charging tech for Gravity enabling up to 400 kW peak power and adding ~200 miles in under 12 minutes, plus bi‑directional charging up to 80 A (19.2 kW).

✅ On Track | Certainty: 90%

Analysis: Later Canadian GT and European disclosures substantiate high‑rate charging claims; Touring’s November 20 specs show lower trim‑specific peak (300 kW), which supersedes earlier generic Touring expectations.

Progress:

• Earlier evidence from 2025-01-28 announces up to 400 kW peak and bi‑directional charging specs.
• Earlier evidence from 2025-10-11 supports 400 kW peak for GT in Canada; the 2025-11-20 update clarifies Touring at up to 300 kW.

Cluster: Autonomy and Robotaxi

Commitment: November 06, 2025: Committed to roll out significant ADAS upgrades (L2+/L2++) for Gravity and the upcoming Midsize by end of next year, then continue OTA progression toward higher autonomy levels.

🟡 Partially Met | Certainty: 82%

Analysis: The roadmap and timing are reiterated; earlier OTA upgrades shipped for Air. Gravity/Midsize L2++ rollout is a 2026 deliverable and thus pending.

Progress:

• A recent update from 2025-11-06 confirms the plan and timeline for Gravity and Midsize L2+/L2++ by end of next year.
• Earlier evidence from 2025-07-15 delivered hands‑free features on Air, aligning with the broader L2++ roadmap.

Commitment: November 06, 2025: Collaborated with NVIDIA to jointly develop full Level 4 consumer capabilities with continuous software updates.

✅ On Track | Certainty: 92%

Analysis: Collaboration and L4 intent reinforced, building on October 28 NVIDIA announcements.

Progress:

• A recent update from 2025-11-06 reiterates co‑development of L4 capabilities with NVIDIA.
• Earlier evidence from 2025-10-28 details the NVIDIA platform (DRIVE AV/Thor) underpinning consumer L4 ambitions.

Commitment: November 06, 2025: Delivered engineering vehicles to Nuro and supported integration/testing with an initial robotaxi rollout planned in 2026 in the San Francisco Bay Area (subject to approvals).

✅ On Track | Certainty: 90%

Analysis: Engineering vehicle delivery to Nuro confirmed; 2026 rollout remains a future milestone subject to approvals.

Progress:

• A recent update from 2025-11-06 confirms delivery of engineering vehicles to Nuro and a 2026 SF Bay Area rollout plan.

Commitment: November 06, 2025: Advanced Uber partnership targeting deployment of 20,000+ robotaxis leveraging Lucid vehicles and Nuro’s L4 autonomy over the coming years.

✅ On Track | Certainty: 95%

Analysis: Uber’s $300M strategic investment closed, confirming momentum toward scaled deployment.

Progress:

• A recent update from 2025-11-06 highlights Uber’s $300M investment and program progress.
• Earlier evidence from 2025-09-04 confirms the $300M investment closed as part of the robotaxi program.

Commitment: November 05, 2025: Positioned to be among the first to bring Level 4 autonomy to privately owned passenger vehicles.

✅ On Track | Certainty: 80%

Analysis: Positioning statement is supported by NVIDIA partnership and L4 roadmap; delivery timing remains forward‑looking.

Progress:

• A recent update from 2025-11-05 reiterates positioning to bring L4 to B2C, supported by NVIDIA collaboration (2025-10-28).

Commitment: October 28, 2025: Announced intent to deliver one of the world’s first consumer Level 4 vehicles using NVIDIA DRIVE AV.

✅ On Track | Certainty: 90%

Analysis: Intent and platform selection disclosed; execution milestones pending.

Progress:

• Earlier evidence from 2025-10-28 details the intent and NVIDIA DRIVE AV platform adoption.

Commitment: October 28, 2025: Committed to integrate two NVIDIA DRIVE AGX Thor computers per vehicle in future Midsize models to power advanced autonomy.

✅ On Track | Certainty: 85%

Analysis: Hardware architecture committed for future Midsize; integration occurs with that launch.

Progress:

• Earlier evidence from 2025-10-28 confirms dual Thor integration for Midsize models.

Commitment: October 28, 2025: Began the autonomy roadmap with L2++ on Gravity and upcoming Midsize vehicles as a stepping stone to L4.

✅ On Track | Certainty: 90%

Analysis: Roadmap affirmed; prior OTA upgrades on Air show incremental feature delivery consistent with strategy.

Progress:

• Earlier evidence from 2025-10-28 outlines L2++ start on Gravity/Midsize as the path to L4.
• Earlier evidence from 2025-07-15 shows OTA ADAS feature expansion on Air.

Commitment: July 17, 2025: Confirmed Uber aims to deploy 20,000+ Lucid vehicles with Nuro Driver over six years, with first launch planned next year in a major US city.

✅ On Track | Certainty: 90%

Analysis: Partnership terms and scale confirmed; subsequent Uber investment and Nuro engineering deliveries reinforce execution.

Progress:

• Earlier evidence from 2025-07-17 details the 20,000+ vehicle plan and first launch timing.
• A recent update from 2025-11-06 notes Uber’s $300M investment and 2026 SF plan with Nuro, refining deployment expectations.

Cluster: Production, Manufacturing Scale, and Cost Discipline

Commitment: November 06, 2025: Guided 2025 CapEx of $1.0–$1.2 billion focused on production scaling, Midsize development, automation, and cost reduction (updates earlier FY2025 CapEx expectations).

✅ On Track | Certainty: 95%

Analysis: Guidance communicated; supersedes earlier ~$1.4B expectation from April.

Progress:

• A recent update from 2025-11-06 sets CapEx at $1.0–$1.2B for 2025.
• Earlier evidence from 2025-04-30 anticipated ~$1.4B CapEx, now superseded.

Commitment: November 06, 2025: Reaffirmed year‑end 2025 production around ~18,000 units, narrowing from earlier 18,000–20,000 guidance and superseding earlier 20,000 targets.

✅ On Track | Certainty: 88%

Analysis: Guidance reiterated with narrower range; YTD production/deliveries through Q3 support trajectory but final year-end actuals not yet reported as of the updates.

Progress:

• A recent update from 2025-11-06 reaffirms ~18,000 production for 2025 year‑end.
• Earlier evidence from 2025-08-05 revised guidance to 18,000–20,000 (now narrowed).

Commitment: November 06, 2025: Expected Gravity to comprise the majority of Q4 production, supported by a second shift launched in October.

✅ On Track | Certainty: 85%

Analysis: Expectation stated; Q4 execution pending final production data.

Progress:

• A recent update from 2025-11-06 states Gravity will make up the majority of Q4 production, enabled by a second shift in October.

Commitment: November 06, 2025: Scheduled an Investor Day early next year to detail the short‑term plan and roadmap to cash generation.

✅ On Track | Certainty: 90%

Analysis: Investor Day scheduling announced; event occurrence is a future milestone.

Progress:

• A recent update from 2025-11-06 announces the Investor Day timing (early next year).

Commitment: November 06, 2025: Planned to produce the Midsize vehicle at AMP‑1 (Arizona) with limited additional investment as part of a prudent localization strategy.

✅ On Track | Certainty: 83%

Analysis: Strategy communicated; execution aligns with cost discipline and localization but remains prospective.

Progress:

• A recent update from 2025-11-06 details the plan to produce Midsize at AMP‑1 with limited incremental investment.

Commitment: November 06, 2025: Confirmed Atlas drive unit family is on track, including a rare‑earth‑free variant, to cut parts, BOM cost, and weight while improving efficiency.

✅ On Track | Certainty: 90%

Analysis: Program status affirmed; supports cost reduction and efficiency goals.

Progress:

• A recent update from 2025-11-06 confirms Atlas drive unit progress and rare‑earth‑free variant.

Commitment: November 05, 2025: Focused on ramping production while addressing industry‑wide supply chain disruptions over the coming quarters.

✅ On Track | Certainty: 85%

Analysis: Operational focus communicated; Q3 volumes reflect momentum despite industry constraints.

Progress:

• A recent update from 2025-11-05 reports Q3 production of 3,891 and deliveries of 4,078 while highlighting supply chain dynamics.

Commitment: October 28, 2025: Committed to deploy a unified AI factory using NVIDIA Omniverse and NVIDIA AI Enterprise for digital‑twin‑driven manufacturing and enterprise transformation.

✅ On Track | Certainty: 85%

Analysis: Adoption plan announced; deployment and benefits are multi‑quarter initiatives.

Progress:

• Earlier evidence from 2025-10-28 details the AI factory and digital twin deployment roadmap.

Commitment: October 28, 2025: Implemented predictive analytics, intelligent robotics, and real‑time process optimization to enable reconfigurable lines, enhance quality, reduce costs, and accelerate delivery.

🟡 Partially Met | Certainty: 80%

Analysis: The company states implementation; given the scope, rollout is likely in phases alongside the AI factory program.

Progress:

• Earlier evidence from 2025-10-28 outlines implementation of predictive analytics and intelligent robotics; ongoing execution expected.

Commitment: April 11, 2025: Acquired former Nikola facilities adding >884,000 sq ft to Arizona footprint and planned to offer jobs to 300+ former Nikola employees to expand manufacturing capacity.

✅ On Track | Certainty: 95%

Analysis: Acquisition and integration actions confirmed.

Progress:

• Earlier evidence from 2025-04-11 confirms asset acquisition and planned hiring of 300+ former Nikola employees.

Commitment: April 30, 2025: Anticipated approximately $1.4 billion of FY2025 CapEx to support capacity, retail studios, and technologies (directionally superseded by the November 6, 2025 plan).

🟡 Partially Met | Certainty: 92%

Analysis: Earlier CapEx outlook was revised down to $1.0–$1.2B on November 6; the newer guidance supersedes the April expectation.

Progress:

• A recent update from 2025-11-06 provides updated CapEx guidance of $1.0–$1.2B (supersedes earlier $1.4B).
• Earlier evidence from 2025-04-30 anticipated ~$1.4B FY2025 CapEx.

Cluster: Retail Footprint and Brand Building

Commitment: November 06, 2025: Accelerated brand building via the “Driven” campaign (with Timothée Chalamet) and related activations, reporting an 8‑point MoM awareness jump, >7.2M YouTube views, and >1B U.S. impressions.

✅ On Track | Certainty: 95%

Analysis: Quantified metrics presented for the campaign’s reach and awareness lift.

Progress:

• A recent update from 2025-11-06 reports the awareness increase and campaign impression metrics.
• Earlier evidence from 2025-09-04 launched the “Driven” campaign with Chalamet.

Commitment: October 20, 2025: Launched a sports‑driven marketing collaboration with Jalen Brunson and Josh Hart, debuting October 22 with out‑of‑home and social activations around the Knicks home opener.

✅ On Track | Certainty: 96%

Analysis: Collaboration and launch timing confirmed.

Progress:

• Earlier evidence from 2025-10-20 details the collaboration and activation timing.

Commitment: October 13, 2025: Opened new Lucid Studio and Service Centers in San Jose (opened) and San Diego (opening November 8), and committed to continued U.S. retail footprint growth.

✅ On Track | Certainty: 95%

Analysis: San Jose opening confirmed; San Diego scheduled for Nov 8; expansion intent stated.

Progress:

• Earlier evidence from 2025-10-13 confirms the San Jose opening and San Diego opening date.

Commitment: May 08, 2025: Opened a Studio and Service Center in Rutherford, NJ, marking Lucid’s 43rd North American and 58th global location.

✅ On Track | Certainty: 98%

Analysis: New location opening confirmed with network totals.

Progress:

• Earlier evidence from 2025-05-08 confirms the Rutherford opening and location counts.

Commitment: September 04, 2025: Entered a multi‑year partnership with Timothée Chalamet as Lucid’s first Global Brand Ambassador, debuting the “Driven” campaign across multiple formats.

✅ On Track | Certainty: 98%

Analysis: Partnership and campaign launch confirmed; later metrics validate reach.

Progress:

• Earlier evidence from 2025-09-04 confirms the ambassador partnership and campaign debut.
• A recent update from 2025-11-06 reports campaign performance metrics.

Commitment: August 12, 2025: Offered public demo drives of Lucid Air and Gravity at Monterey Car Week (Aug 14–17, 2025).

✅ On Track | Certainty: 98%

Analysis: Demo drives and event activation executed as planned.

Progress:

• Earlier evidence from 2025-08-12 confirms public demo drives during Monterey Car Week.

Cluster: Investor Relations and Transparency

Commitment: November 12, 2025: Committed to file a Current Report on Form 8‑K on or about November 17, 2025 with additional information regarding the 2031 notes transactions.

🟡 Partially Met | Certainty: 78%

Analysis: The 2031 notes closing was disclosed on November 17; while the press release is confirmed, the 8‑K filing itself is not explicitly cited in the provided summaries. The closing disclosure supports that the company likely followed through, but documentary confirmation of the 8‑K is not present here.

Progress:

• A recent update from 2025-11-17 confirms the notes closing and transaction details (press release); the specific 8‑K filing is not included in the summaries.
• Earlier evidence from 2025-11-12 stated the intent to file an 8‑K on or about November 17.

Commitment: October 06, 2025: Scheduled the Q3 2025 earnings call and webcast for November 5, 2025 and committed to issue a press release with the webcast link beforehand.

✅ On Track | Certainty: 95%

Analysis: The call occurred on November 5; scheduling and communications were executed.

Progress:

• Earlier evidence from 2025-10-06 set the call date and press release plan.
• A recent update from 2025-11-05 contains the Q3 results press release and call.

Commitment: October 06, 2025: Partnered with Say Technologies to accept and upvote shareholder questions from October 22 to November 4, 2025, with support available via email.

✅ On Track | Certainty: 95%

Analysis: Shareholder Q&A window and partnership confirmed.

Progress:

• Earlier evidence from 2025-10-06 confirms Say Technologies Q&A dates and process.

Commitment: July 02, 2025: Opened Say Technologies shareholder Q&A for Q2 from July 22 to August 4, 2025.

✅ On Track | Certainty: 90%

Analysis: Q2 Q&A window opened; earnings call scheduled for August 5 followed.

Progress:

• Earlier evidence from 2025-07-29/2025-07-02 indicates the Say Q&A window ahead of the 2025-08-05 call.

Commitment: April 02, 2025: Opened Say Technologies shareholder Q&A for Q1 from April 22 to May 5, 2025.

✅ On Track | Certainty: 82%

Analysis: Q1 Q&A platform availability before the May 6 earnings call is noted; exact window dates are referenced in the commitment and aligned with the call timing.

Progress:

• Earlier evidence from 2025-04-02 announces Say Q&A ahead of the 2025-05-06 earnings call.

Commitment: January 06, 2025: Opened Say Technologies shareholder Q&A for Q4 from February 11 to February 23, 2025 ahead of the February 25 earnings call.

✅ On Track | Certainty: 96%

Analysis: Q4 Q&A window and earnings date align with disclosures.

Progress:

• Earlier evidence from 2025-01-06 and 2025-01-06 (Q4 production/deliveries) confirms the Q&A window and the 2025-02-25 call occurred as scheduled.

Cluster: Leadership and Organizational Alignment

Commitment: November 05, 2025: Announced organizational changes to accelerate growth and global expansion, centralizing product development under Emad Dlala, expanding Erwin Raphael’s global sales and service remit, and appointing Marnie Levergood to lead quality.

✅ On Track | Certainty: 98%

Analysis: Role changes and objectives confirmed in organizational announcement and earnings communications.

Progress:

• A recent update from 2025-11-05 details the organizational changes and appointments.
• A recent update from 2025-11-06 references these changes in the earnings discussion.

Commitment: June 05, 2025: Elected Douglas Grimm to the Board of Directors, bringing the board to eight members.

✅ On Track | Certainty: 98%

Analysis: Board election confirmed.

Progress:

• Earlier evidence from 2025-06-05 confirms Douglas Grimm’s election and board composition.

Commitment: February 25, 2025: Initiated a CEO search following Peter Rawlinson’s transition to Strategic Technical Advisor to support the company’s strategy.

✅ On Track | Certainty: 95%

Analysis: CEO transition and search initiation confirmed.

Progress:

• Earlier evidence from 2025-02-25 confirms the transition and search initiation.

Commitment: February 28, 2025: Appointed Taoufiq Boussaid as CFO effective February 25, 2025 to align financial strategy with operational scaling and shareholder value goals.

✅ On Track | Certainty: 98%

Analysis: CFO appointment effective February 25 confirmed; subsequent communications feature CFO.

Progress:

• Earlier evidence from 2025-01-28/2025-02-28 confirms the appointment and effective date.
• A recent update from 2025-11-17 includes CFO commentary.

Commitment: February 13, 2025: Promoted Emad Dlala to Senior Vice President of Powertrain to advance drive units, power electronics, and batteries.

✅ On Track | Certainty: 98%

Analysis: Promotion confirmed and later expanded to broader engineering/digital leadership in November.

Progress:

• Earlier evidence from 2025-02-13 confirms promotion.
• A recent update from 2025-11-05 expands Emad Dlala’s scope, superseding prior role definition.

Commitment: May 06, 2025: Strengthened the executive team across marketing, manufacturing engineering, ADAS/AD, and sales/service to drive growth, efficiency, and technology leadership.

✅ On Track | Certainty: 96%

Analysis: Multiple executive appointments confirmed.

Progress:

• Earlier evidence from 2025-05-06 details additions in marketing, manufacturing engineering, ADAS/AD, and operations.

Cluster: Supply Chain Localization and Materials

Commitment: August 06, 2025: Reaffirmed domestic supply chain development by partnering with Graphite One to source natural and synthetic graphite starting in 2028.

✅ On Track | Certainty: 85%

Analysis: While the August reaffirmation itself isn’t separately summarized, earlier executed agreements with Graphite One substantiate the plan to source from 2028.

Progress:

• Earlier evidence from 2025-06-04 confirms multi‑year Graphite One agreements with 2028 timing for natural graphite.
• Earlier evidence from 2025-07-23 shows broader domestic minerals collaboration (MINAC), consistent with this strategy.

Commitment: June 04, 2025: Executed multi‑year agreements with Graphite One for American‑sourced natural and synthetic graphite beginning in 2028, and collaborated with Syrah Resources for natural graphite AAM starting in 2026.

✅ On Track | Certainty: 95%

Analysis: Agreements and start dates confirmed.

Progress:

• Earlier evidence from 2025-06-04 details Graphite One and Syrah arrangements and timing.

Commitment: July 23, 2025: Joined MINAC commitments to advance domestic critical mineral offtakes, resolve barriers, expand coordination between mining and automotive sectors, and support qualification and procurement by U.S. automakers and Tier 1s.

✅ On Track | Certainty: 95%

Analysis: Participation in MINAC and objectives confirmed.

Progress:

• Earlier evidence from 2025-07-23 confirms MINAC collaboration and goals.