Sector Snapshot Key Trends in Dealmaking Mobility

Sector Snapshot: Key Trends in Dealmaking Mobility | 7 As the cost of capital has risen, investors have pulled back from speculative bets simply due to the timeline of returns that are sufficiently high being more protracted now. Plus, given often disappointing results on the part of many SPACs, ultimately, even retail investors are not enthused enough to justify such reverse mergers into public markets. Hence, amid high-profile bankruptcies in prominent EVmakers – as the economics of challenging established incumbents grows more difficult – exits via public listing have dwindled. Only opportunistic M&A remains an exit avenue thus far, while major corporates remain open to acquiring better-pricedmobility tech startups as valuations for some contract significantly. After a Special Purpose Acquisition Companies surge in 2021, liquidity has dried up Global VC exit activity –Mobility *As of 03/18/2024. Source: PitchBook. Exit value Exit count 29 2018 2015 2020 2023 2014 2019 2016 2021 2024* 2017 2022 49 42 81 80 67 105 181 122 67 19 $1 $2 $9 $10 $27 $90 $78 $165 $25 $9 $0 $180 $160 $140 $120 $100 $80 $60 $40 $20 $0 200 180 160 140 120 100 80 60 40 20 0 M&A remains key avenue in volatile markets Global VC exits by type (Count) –Mobility Acquisition Buyout Public Listing 2013 2018 2015 2020 2023 2014 2019 2016 2021 2024* 2017 2022 200 180 160 140 120 100 80 60 40 20 0 *As of 03/18/2024. Source: PitchBook.