Public Investment Fund - Jun 22, 2023 Form 4 Insider Report for Lucid Group, Inc. (LCID)

Role: Director, 10%+ Owner
Signature: The Public Investment Fund, /s/ Yasir O. AlRumayyan, Governor
Stock symbol: LCID
Transactions as of: Jun 22, 2023
Transactions value $: $1,814,687,991
Form type: 4
Date filed: 6/26/2023, 05:09 PM
Previous filing: Jan 3, 2023
Next filing: Apr 2, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LCID	Class A Common Stock	Purchase	$1.81B	+266M	+24.13%	$6.83	1.37B	Jun 22, 2023	By Ayar Third Investment Company	F1, F2
holding	LCID	Class A Common Stock						8.04M	Jun 22, 2023	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 31, 2023, Lucid Group, Inc. (the "Issuer") announced it had priced an underwritten public offering of 173,544,948 shares of its common stock for aggregate gross proceeds to the Issuer of approximately $1.2 billion (the "Public Offering"). On June 22, 2023, Ayar Third Investment Company ("Ayar") purchased from the Issuer 265,693,703 shares of Issuer common stock in a private placement for an aggregate purchase price of approximately $1.8 billion in a private placement pursuant to a subscription agreement entered into concurrently with the Public Offering.
F2	Ayar is a wholly-owned subsidiary of The Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the Shares held by Ayar. In addition, each of H.E. Yasir O. Al Rumayyan, the Governor of PIF, and Turqui A. Alnowaiser, Deputy Governor and Head of the International Investments Division of the PIF, may be deemed to beneficially own the shares owned by Ayar by virtue of shared power to vote the shares. Neither H.E. Al Rumayyan nor Mr. Alnowaiser has any, and each and disclaims, any pecuniary interest in the shares.

Content

On May 31, 2023, Lucid Group, Inc. (the "Issuer") announced it had priced an underwritten public offering of 173,544,948 shares of its common stock for aggregate gross proceeds to the Issuer of approximately $1.2 billion (the "Public Offering"). On June 22, 2023, Ayar Third Investment Company ("Ayar") purchased from the Issuer 265,693,703 shares of Issuer common stock in a private placement for an aggregate purchase price of approximately $1.8 billion in a private placement pursuant to a subscription agreement entered into concurrently with the Public Offering.

Ayar is a wholly-owned subsidiary of The Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the Shares held by Ayar. In addition, each of H.E. Yasir O. Al Rumayyan, the Governor of PIF, and Turqui A. Alnowaiser, Deputy Governor and Head of the International Investments Division of the PIF, may be deemed to beneficially own the shares owned by Ayar by virtue of shared power to vote the shares. Neither H.E. Al Rumayyan nor Mr. Alnowaiser has any, and each and disclaims, any pecuniary interest in the shares.

Remarks:

PIF may be deemed a director by deputization, as Mr. Alnowaiser, an employee of PIF, serves as a representative of Ayar on the Board of Directors of the Issuer.