Lucid Group (LCID) Proxy filing summary

Executive summary

• Appointed Silvio Napoli as CEO following a global search, with Marc Winterhoff continuing as COO to ensure leadership continuity.

• Strengthened capital position and formed new strategic partnerships to accelerate market entry and support profitability.

• Focused on disciplined execution, expanding product reach, and software-enabled innovation, including autonomy and mobility applications.

• Preparing to launch new midsize vehicles aimed at higher volume premium segments globally.

Voting matters and shareholder proposals

• Stockholders will vote on electing nine directors, ratifying KPMG LLP as auditor for 2026, approving executive compensation on an advisory basis, and amending the 2021 Stock Incentive Plan.

• Board recommends voting “For” all proposals.

• Only stockholders of record as of April 6, 2026, may vote; virtual meeting format allows remote participation and voting.

Board of directors and corporate governance

• Board consists of nine members, with Turqi Alnowaiser as Chairman; majority are independent directors.

• Ayar retains rights to nominate directors and designate the Chairman based on ownership thresholds.

• Board committees (Audit, Compensation and Human Capital, Nominating and Corporate Governance, Executive) are composed of independent directors.

• Board reviews leadership structure and maintains flexibility to separate or combine CEO and Chairman roles.

• Stockholder communications and director nomination procedures are established.