#1ΑΓΓΙVAL ARRIVAL Q3 2022 Business Update Call November, 2022 Private & confidential#2Q3 Update November, 2022 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 third quarter 2022 business update issued today on the 8th of November. 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. Private & confidential#3Q3 Update November, 2022 Arrival Management Team Today's Speakers Denis Sverdlov Founder & CEO Avinash Rugoobur President John Wozniak CFO Private & confidential Mike Ableson CEO, North America#4ΑΓΓΙVAL Avinash Rugoobur President November, 2022 Private & confidential#5Q3 Business Update November, 2022 Private & confidential Arrival is no exception to the challenging year the entire sector has experienced But we are unique in the way we respond to these challenges Today, we will talk about a number of modifications we've made recently#6Q3 Business Update In eight years, we have developed a New Method to design and produce any type of electric vehicle, enabled by a vertically integrated stack of technologies 기 기기기 November, 2022 Industry leading IP which can be used to design any type of electric vehicle Proprietary composite body parts High voltage and low voltage components Software for vehicles Autonomous mobile robotics Software-defined Microfactories Certified Bus and Van in Europe in rapid time due to vertical integration Commenced real world road trials to fine tune our technologies Built first Vans in Bicester (UK), the first time the Microfactory assembly method moved from concept to reality We've done all this with approximately $1.6 billion of investment, which highlights the relative capital efficiency of our business model Private & confidential#7Q3 Business Update November, 2022 At the end of Q3 we had approximately $330 million of cash and cash equivalents on hand which is not enough capital to ramp up volume production of the L Van in Bicester. In our Q2 financial results, we announced plans to use existing cash on hand of $513 million plus funds available through a $300 million At the Market (ATM) Platform to deliver the first vehicles to UK customers this year, invest in hard tooling and launch the Charlotte microfactory next year Due to the current market cap and average daily trading volumes, the ATM has not allowed us to raise the capital to do what we need to do in the timeframe we want to do it And we were later than expected in delivering upon some of our key objectives At the same time, the introduction of the Inflation Reduction Act tax credits ranging from $7,500 up to $40,000 for commercial electric vehicles, the large market size, plus the anticipated higher margins for commercial vehicles, made the US our most attractive market Private & confidential#8Q3 Business Update November, 2022 Our strategy will ensure our future success as we focus on bringing products to the US Private & confidential#9Q3 Business Update November, 2022 Arrival's talent and experience drives confidence in the development of US products Mike Ableson will lead our US product engineering with over 30 years of experience at GM Learnings and intel from designing the Arrival Bus, Van and Car will drive improvements in the US products Our talented team in both the US and Europe supporting the US product development gives us confidence in our ability to execute Private & confidential#10Q3 Business Update November, 2022 The European market is still important to Arrival, and we will keep an incredible team in place in the UK to re-design and optimize aspects of our current L Van for 2024 Private & confidential#11ΑΓΓΙVAL John Wozniak CFO November, 2022 Private & confidential#12Q3 Financial Update 기 November, 2022 Over the next few quarters, we will be focused on raising the capital needed to bring the products designed for the US market into production 기 In order to extend the company's cash runway, Arrival plans to further right-size the organization and cut cash intensive activities while continuing to advance its core technologies 7 The result of these proposals is expected to have a sizable impact on the Company's global workforce, predominantly in the UK Private & confidential#13Q3 Financial Update November, 2022 A number of financial factors leading to our move to focus on US products We cannot make margin on the current L Van product given the high cost of soft-tooled parts In order to hard-tool the L Van, we need approximately $150 million which we assumed would be available to us under the ATM program The US Van, has a higher ASP and margin than the L Van and is supported by new incentives of up to $40,000 per vehicle We also see high demand and limited supply in the US market for electric last-mile delivery vans Limited resources and the attractive opportunities of the US market makes developing US products the best use of capital This means revenues and margins will come later; not in 2023 Private & confidential#14Q3 Financial Update Outlook for second half of 2022 We expect to end the year with between $160M and $200M of cash November, 2022 Includes approximately $35M in Q4 for severance and retention related costs, and approximately $40M for other restructuring costs We expect cash on hand will be able to fund the business into Q3 of next year Private & confidential 16x#15Q3 Update November, 2022 In summary The US market opens up a much larger Total Addressable Market opportunity as our core technologies are suitable to develop any type of electric vehicle and we can respond to demand with our modular, scalable Microfactory strategy. Thank you to our investors, employees, customers, partners and suppliers. We knew this road would not be easy. However, we believe we are making the right choices for the long-term success of Arrival and appreciate the continued support. Private & confidential#16ΑΓΓΙVAL Thank you Earnings Call Private & confidential *#17Q3 Update Financial Results Loss *This loss in Q3 2022 includes non-cash impairment charges and write-offs of $232 million Adjusted EBITDA loss Administrative Expenses Non-capitalized R&D expenses CAPEX Ending Cash and Cash Equivalents (30 September 2022) November, 2022 Q3 2022 $310.3M* $73.3M $79.6M $27.7M $80.4M $330M Q3 2021 $30.6M $45.9M $52.2M $2.9M $67.6M $440M Private & confidential