Polestar Announces Completion of USD 640 Million Debt-to-Equity Conversions

• Total of USD 640 million debt converted into Polestar’s equity since the start of 2026
• Term of recent shareholder loan from Geely Sweden Holdings AB extended
• Green Trade Finance Facility increased to EUR 450 million

Polestar (NASDAQ:PSNY) announces that Geely Sweden Holdings AB and Volvo Cars completed previously announced debt-to-equity conversions. On 30 June 2026, approximately USD 300 million and USD 66 million of their respective outstanding shareholder loans were converted into Polestar’s equity. This brings the total of debt converted by the parties into Polestar’s equity to approximately USD 640 million since the beginning of 2026. As previously announced, the remaining approximately USD 660 million of Volvo Cars’ shareholder loan matures in December 2031.

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