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At the Chinese debut of the Polestar 2 in Shanghai, Polestar confirmed that production of the new electric performance fastback will take place in Luqiao, Zhejiang Province, from early 2020. Owned by Zhejiang Geely Holding and operated by Volvo Cars, the Luqiao production facility will produce Polestar 2 alongside other world-class models from Volvo and Lynk & Co. which share the core CMA platform with Polestar 2. Polestar 2 is the first car on the modular chassis to feature a fully electric drivetrain. “Being able to produce Polestar 2 in the Luqiao plant in China shows the clear synergies of our ownership structure and gives us a great industrial advantage,” comments Thomas Ingenlath, Chief Executive Officer at Polestar. “With Geely and Volvo Cars as our owners, we are able to leverage their expertise in many different ways. Manufacturing is one of the most important areas, helping us accelerate our progress and entry into the market with the confidence that Polestar 2

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We did it. We bit the bullet, ripped off the bandage, and broke up with the conventions of the auto industry. And it’s like a weight has been lifted. We’re finally free to dive in with both feet and follow our ambitions, unfettered by tradition, unhindered by legacy. We have a long to-do list. Now’s the time to start ticking things off, starting with these three: Going All Electric: This is our first move. The Polestar 2 is our statement of intent: a premium vehicle, packed with design and technological innovations, which is entirely electric. We believe in electrification, and we’re all in. Thinking Outside the Box: Next, we’re going to broaden our horizons by forming new partnerships and collaborating outside the industry. Like how we solved our issue with the user interface, for example. Automotive Retail: Then, we’re tackling retail. We’re realising a number of ambitions with our approach, which will restore the joy to the whole purchasing process. We’re not planning

Please find attached and below the first image of the Polestar 2, the second production vehicle from Volvo’s electric performance brand and the company’s first fully-electric model. The car will go into production shortly after the long-range hybrid Polestar 1, which will enter production later this year. The Polestar 2 will be fully revealed in the coming weeks, but here are some initial specs and information: First full BEV from Polestar and the Volvo Car Group ~300 miles of range (all final specs to be announced shortly) ~400 HP (all final specs to be announced shortly) Four-door “fastback” body type World debut of the new Google Android HMI, which in turn is also the debut of the in-car version of Google Assistant Will be sold in the Tesla Model 3 price range Available on subscription, which will be a slightly more premium version of our sister brand’s Care by Volvo package, although we will honor/take cash sales