Lucid Spokesperson Says Rumors About Company's Liquidity Position Are False, Has Not Formed Special Board Committee To Explore Bankruptcy

Lucid Spokesperson: "The rumors are completely false. The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today. Our focus is on improving execution, strengthening operations, and positioning Lucid to realize the full potential of its technology, products, and innovation. AlixPartners is assisting us in that and nothing else and has not recommended bankruptcy to management or the Board. We undertake no duty to update our comments on this matter."