Lucid Group, Inc. (NASDAQ: LCID), today announced Sherry House, Chief Financial Officer (CFO) of Lucid Group, Inc. ("Lucid" or the "Company"), informed the Company that she is resigning from her position, effective immediately, to pursue other opportunities. Ms. House will be available in an advisory role through December 31, 2023, to assist in the transition of her duties.

Gagan Dhingra, Lucid's current Vice President of Accounting and Principal Accounting Officer, will additionally serve as interim Chief Financial Officer and Principal Financial Officer, effective immediately, while Lucid's search for a replacement CFO is underway. Having spent two years at Lucid, Mr. Dhingra is deeply entrenched in the Company's business, and with decades of prior accounting and finance experience, he has the expertise to carry forward the Company's focus on achieving its next phases of growth and on controlling costs.

"I want to thank Sherry for her contributions to the company during her tenure," said Peter Rawlinson, Lucid's Chief Executive Officer (CEO) & Chief Technology Officer (CTO). "She was a key member of our leadership team and a critical player during major corporate moments, including Lucid's public listing in 2021, the production and delivery of Lucid Air, and the recent unveiling of Lucid Gravity. We wish Sherry the best of luck in her next chapter."

"I am confident in Lucid's future and grateful to have had the opportunity to contribute to its success to-date," said Ms. House. "There is so much exciting innovation happening at Lucid, and I look forward to watching the company continue to grow and achieve new milestones. It was an honor to work with Peter and the Lucid team."