Arrival expects to have sufficient liquidity to fund business into late 2023

The XL Delivery Van funding activities are specific to driving the start of production in Charlotte next year. There is no planned Capex spend related to this program until dedicated capital is raised. Arrival will achieve its target quarterly $35 million burn rate by the second half of 2023. With available capital resources and additional initiatives to reduce working capital, the Company expects to have sufficient liquidity to fund the business into late 2023 without the investments required for XL production.