Polestar fully compliant with Nasdaq listing rules

Polestar has received notice that with the closing bid price of the Company’s American Depositary Shares ADSs exceeding $1.00 for at least ten consecutive business days, Polestar has regained compliance with Nasdaq’s Listing Rule 5450(a)(1). As previously announced, Polestar was notified by Nasdaq on July 5, that it was not in compliance with the minimum bid price requirement as the Company’s ADSs had closed below $1.00 for 30 consecutive trading days. Per Ansgar, Polestar CFO, says: “Following the publication of our Annual Report on form 20-F in mid-August we regained reporting compliance. Clearing the remaining deficiency on the low bid price makes Polestar fully compliant with Nasdaq listing rules, and enables us to focus on business execution, as we ramp up deliveries of our two performance SUVs.”