Arrival sees Q4 adjusted EBITDA ($162M)-($172M) vs ($85M) last year

Loss for Q4 of $588 – $597 million, compared to a loss of $67 million in the fourth quarter of 2021. This loss in Q4 2022 includes non-cash impairment charges and write-offs of approximately $406 million. Adjusted EBITDA loss for the fourth quarter of $162 – $172 million, compared to an adjusted EBITDA loss of $85 million in the fourth quarter of 2021. The increase quarter over quarter is due to an increase in the amount of salaries and contractor costs not capitalized in Q4 2022 vs Q4 2021 of approximately $70 million and an increase in parts and subassemblies spend of approximately $25 million offset by a non-recurring listing fee of approximately $20 million in the fourth quarter 2021