#1ΑΓΓΙVAL Arrival Q4 and Full Year 2022 Business Update Call *#2Q4 2022 Update March 2023 Disclaimer: Safe Harbor Statement Before we begin, I'd like to remind everyone that certain statements made on this call today are forward-looking statements. These statements are subject to various risks and uncertainties, and reflect our current expectations based on our beliefs, assumptions and the information currently available to us. Although we believe these expectations are reasonable, we undertake no obligation to revise any statements to reflect changes that occur after this call. Descriptions of these factors and other risks that could cause actual results to differ materially from these forward-looking statements are discussed in more detail in our filings with the SEC and our fourth quarter and full year 2022 preliminary financials and business update issued today on the 13th of March. During the call, we also refer to certain non-IFRS financial measures. This should be considered in addition to and not as a substitute for or in isolation from our IFRS results. *#3Q4 2022 Update March 2023 Arrival's Management Team Today's Speakers Igor Torgov Group CEO Mike Ableson CEO, North America John Wozniak CFO *#4Q4 2022 Update March 2023 Igor Torgov Group CEO *#5Q4 2022 Update March 2023 We're confident we can do what's needed to get back on track and ensure production of Arrival's incredible vehicles: Arrival has a progressive portfolio of IP in electric vehicle hardware components, software, rapid vehicle prototyping, advanced mobile robotics and new methods of flexible manufacturing We've been increasing our liquidity, reducing the cost of running our business, and reducing debt We have a compelling business plan to bring an 'XL' Van to the U.S. which has a high margin profile and qualifies for the IRA tax credit up to $40,000 We will meet our global headcount reduction goal while retaining key talent to innovate, improve, and refine our portfolio of key IP and technologies We continue to build certified L Vans in Bicester to further develop automated factory processes and accumulate 250,000 public road kilometers this year We're launching fundraising efforts to complete the U.S. product development and start production in Charlotte, targeted for late 2024 *#6Q4 2022 Update ARRIVAL Arrival L Van and XL Van March 2023 *#7Q4 2022 Update - March 2023 Cash management is at the forefront of our business plan: -$205M cash on hand at the end of 2022 Received a capital commitment of $50M from Antara in new equity Will reduce debt by $121.9M through a debt-to-equity transaction with Antara Announcing a $300M equity financing line with Westwood Capital We continue to reduce costs across the business, including a 50% headcount reduction Therefore, we believe we have the liquidity foundation to run the business into late 2023 *#8Q4 2022 Update March 2023 Capital Raise Initiative The U.S. vehicle development culminating in the start of production in Charlotte in late 2024 will require a dedicated capital raise. Today, we are launching initiatives to fund that program, which we call the XL Van. *#9Q4 2022 Update March 2023 Extraordinary General Meeting of Shareholders Today we are also announcing the intention to call a vote for a Reverse Stock Split in an Extraordinary General Meeting of shareholders, in order to cure our share price deficiency with the Nasdaq, as well as vote on a proposed capital reduction. The meeting of shareholders is scheduled to take place on April 6, 2023 and the split expected to take place no later than April 17, 2023. *#10Q4 2022 Update March 2023 Mike Ableson CEO, North America *#11Q4 2022 Update - - - March 2023 Our U.S. Product Strategy opens up compelling opportunities for higher ASPs and margins, and IRA tax credits in a large commercial vehicle market. Arrival's first U.S. product will be designated the "XL" Van Start of Program Development: 2021 Projected Start of Production: Late 2024 Vehicle Classification: Class 4 Purpose-built Delivery Van High carry-over of components and engineering from the L Van developed for Europe *#12Q4 2022 Update * Arrival XL Van and L Van 30 March 2023 AFFIVAL AFFIVAL#13Q4 2022 Update March 2023 U.S. Van and Charlotte Development While the XL Van design is well advanced, further capital specific to the program will be required this year Capital Requirements required to invest in: Supplier production tooling Complete the procurement and installment of equipment in the Charlotte factory Working capital *#14Sapez KUKA 100 KG KUKA 580 AT F 100 KG KUKA#15Q4 2022 Update March 2023 Our manufacturing approach is flexible and scalable Allows Arrival to stage the investment in the Charlotte factory as we ramp up production volume Layouts for Charlotte are advanced and incorporate learnings from the Bicester factory We believe our manufacturing method offers the most efficient way to match production capacity with demand Leads to competitive capex per unit costs even at lower volumes *#16****** Tal 14.120RO 2 ++4.120R05 ++4.120R01#17Q4 2022 Update 2023 Vehicle Build & Test Plan March 2023 ATTIVAL We are continuing to build 10 L Vans from the Bicester factory this year Demonstrates and continues to develop our automated assembly processes, integrated with Arrival's proprietary AMRS Vans will be used to accumulate 250,000 kms of public road miles by the end of the year to further validate Arrival's engineering designs and components Due to commonality between the L and XL Vans, these public road trials will provide important improvements for XL Van production 10 Additional Vans Built in Bicester by Q3 2023 In progress Vans Built in Bicester to date MAL 2/10 Accumulated Public Road miles (L Van) 68,000/250,000 kms *#18Q4 2022 Update March 2023 John Wozniak CFO *#19Q4 2022 Update March 2023 Liquidity & Cost Control Initiatives Cost Control & Reduction Measures Further reducing salaries and opex spend to target not more than $35M / quarter Will achieve 50% headcount reduction of 800 employees by the end of March Simplifying global entity and real estate footprint to focus on the U.S. market Implemented a hiring freeze, spending freeze and restrictions on new purchase commitments Liquidity Improvements Secured a $50M capital commitment from Antara in February Will reduce debt by $121.9M through a debt-for-equity transaction Established an equity financing line of $300M with Westwood Capital *#20Q4 2022 Update March 2023 Fundraising & Compliance Nasdaq Compliance Today announced the calling of an Extraordinary General Meeting of shareholders to vote on a capital reduction as well as approve the proposal to enact a reverse stock split before May 1, thus curing our $1 deficiency notice Capital for Vehicle Programs & Factories Dedicated capital is required to fund the further development of the U.S. XL Van and start of production in Charlotte $500M projected capital required to: Invest in supplier production tooling Prototyping Completing the procurement and installation of equipment in the Charlotte factory Provide working capital to start production in late 2024 To fund the XL program this year, $100-$150M would need to be raised *#21Q4 2022 Update - - March 2023 Outlook for 2023 No planned Capex spend in the XL Van program until dedicated capital is raised this year We will achieve our $35 million burn rate by the second half of 2023 We expect to have sufficient liquidity to fund the business into late 2023 *#22Q4 2022 Update March 2023 Summary Arrival's XL Van is an attractive product for the following reasons: 1. Significant industry tailwinds in the U.S. due to the IRA, providing incentives up to $40,000 for commercial fleets 2. XL Van has a target ASP of over $100K and as a result, high margins 3. With high margins and lessons learned from the L Van development, we believe we will be able to achieve cash flow break-even once production in Charlotte is fully ramped *#23O SPECTING#24Q4 2022 Update March 2023 Closing Remarks *#25Q4 2022 Update March 2023 We are 100% committed to winning back confidence in Arrival and believe that the significant amount that we have already achieved, the new steps we're taking, and the streamlined organization mean that we are now set up for delivery - it's through execution of our business plan that we'll build back this confidence. We have appreciated the patience and continued support from the market, our suppliers, shareholders and bondholders as we established the foundation for the 2023 year. Thank You *#26O OOC AFFIVAL OC 424 SHEND#27Q4 2022 Update Financial Results Q4 & Full Year 2022 Loss 1 This loss in Q4 2022 includes non-cash impairment charges and write-offs of $406 million Adjusted EBITDA loss Administrative Expenses Non-capitalized R&D expenses CAPEX March 2023 Q4 2022 $588 - $597M¹ $162 - $172M $133M $31M $25M Ending Cash and cash equivalents $205M 31 December 2022 Q4 2021 $67M $85M $43M $28M $104M $905M³ FY 2022 $998 - $1,008M $379 - $380M $312M $119M $245M $205M FY 2021 $1,304M² $203M $171M $57M $291M $905M³ Source: Arrival financials 2 The full-year 2021 loss includes a one-time non-cash charge €1.0 billion (c.$1,205 million) associated with the merger of Arrival and CIIG. Exchange rate for cash and cash equivalents as of December 31, 2021 based on EUR/USD of 0.8793 on December 31, 2021 3 Exchange rate for the years ended December 2021 based on average daily EUR/USD 0.8458 from January 1, 2021 to December 31, 2021 *#28Q4 2022 Update March 2023 Thank You! *