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ΑΓΓΙΨVAL Arrival Reports Third Quarter 2021 Financial Results November 8 , 2021 Reconfirms Bus , Van and first two Microfactory milestones Non - binding Orders and LOIs increased to 64k¹ vehicles Updates 2022 and Long - term outlook LUXEMBOURG , Nov. 08 , 2021 ( GLOBE NEWSWIRE ) -- Arrival ( NASDAQ : ARVL ) , on a mission to make air clean by replacing all vehicles with affordable electric solutions produced by local Microfactories , today reported financial results for the third quarter ended September 30 , 2021 and provided an updated 2022 outlook . " Arrival is unique . We are transforming the industry through our new method at a time the world needs it most . We invest in enabling platforms Vehicle Creation , Device Plug and Play , Microfactory , Supply Chain , Service , Mobility , Sales , Customer Care and Fintech - and enabling allowing us to own the - technologies components , materials , robotics and Microfactories end - to - end ecosystem , " said Denis Sverdlov , founder and CEO of Arrival . - " We do things that have never been done before and we expect our powerful technologies will change the fundamentals of the automotive industry . In the third quarter , we are excited to see these technologies come together as we install our first two Microfactories in the US and UK and get ready for launch . We are excited by our progress and expect to be rapidly scaling Microfactories in the coming years as we build capacity to meet the growing demand for our vehicles . 1. Trial Bus production 2. Proving ground trials 3. Rock Hill equipment installation 4. Certification and public road trials 5. Rock Hill Buses SOP - Expected Timing Q4 2021 Q4 2021 Q4 2021 Q1 2022 Q2 2022 Vehicles Arrival Vehicles Van key milestones Microfactory " To remind everyone we are currently developing 5 platforms - Van , Large Van , Bus , Bus for Emerging Markets and Car - but to achieve our mission to replace all vehicles with electric our ambition is to create 10s of vehicle platforms and produce them in 100s of Microfactories , " concluded Mr. Sverdlov . Third Quarter 2021 Financial Results • Loss for the period of € 26 million , compared to a loss for the period of € 22 million in the third quarter of 2020 • Adjusted EBITDA loss of € 40 million , compared to a loss of € 18 million in the third quarter of 2020 • Administrative expenses of € 38 million and non - capitalised R & D expenses of € 9 million , compared to administrative expenses of € 20 million and non - capitalised R & D expenses of € 1 million in the third quarter of 2020 • Capital expenditure of € 81 million , compared to € 21 million in the third quarter of 2020 • Cash and cash equivalents of € 381 million as of September 30th , 2021 • Approximately 2,400 employees at the end of the third quarter of 2021 versus approximately 1,200 employees at the end of the third quarter of 2020 Microfactory Dec 15 Reconfirmed Milestones For Bus , Van and first two Microfactories Arrival's priorities for 2022 remain the Bus and Van programs and first two Microfactories with key milestones unchanged from those provided in the Company's second quarter 2021 earnings call . Bus key milestones FALLE 1. Public road trials 2. Final prototype Van build 3. Bicester equipment installation 4. Full product certification 5. Bicester Vans SOP 11 770 Expected Timing Q1 2022 Q1 2022 Q1 2022 Q2 2022 Q3 2022 Arrival is moving Start of Production ( SOP ) for Large Van to 2023 in order to prioritise additional Van variants and allow the Company to maximise re - use of components . Other Microfactories developments • Rock Hill installation has commenced and is expected to be substantially complete by the end of 2021 with Bicester expected to be substantially complete by the end of Q1 2022 • Bicester technology cells are being installed to build Vans for product validation this year • Over 1,400 composite panels manufactured using production equipment in Bicester • Over 1,850 high voltage battery modules assembled • In - house developed Autonomous Mobile Robots ( AMRs ) are now capable of coordinating their movement over a wireless