Lucid Group amends bylaws to update director nomination procedures and align with DGCL

On March 2, 2023, the Board of Directors (the " Board" ) of Lucid Group, Inc. (the " Company ") approved and adopted amended and restated by-laws (the " Second Amended and Restated Bylaws ") of the Company to: (i) reflect recent amendments to, and align certain provisions with, the Delaware General Corporation Law; (ii) implement procedural and disclosure requirements for director nominees and stockholders proposing director nominees and other business for consideration at the Company’s annual or special meetings of stockholders, including to address the U.S. Securities and Exchange Commission’s recently adopted "universal proxy card" rules; and (iii) make technical and conforming revisions and clarifications.