Lucid Group, Inc.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 4, 2026, Lucid Group, Inc. (the “Company”) entered into a Transition Agreement and Release (the “Transition Agreement”) with Taoufiq Boussaid, the Company’s former Chief Financial Officer. Pursuant to the Transition Agreement, beginning on the Effective Date as defined therein, Mr. Boussaid will serve as a Senior Advisor through December 31, 2026 (the “Separation Date”) and receive a monthly salary of $10,000, employee benefits and continued equity award vesting through the Separation Date, subject to the terms and conditions of the Transition Agreement. Subject to Mr. Boussaid’s continued employment in good standing through the Separation Date, timely execution and non-revocation of a release of claims thereafter, and satisfaction of the other terms and conditions set forth in the Transition Agreement, Mr. Boussaid will receive the amounts he is otherwise eligible to receive under the Company's Executive Severance Plan and his offer letter that had last applied to him while he served as the Company’s Chief Financial Officer, a prorated 2026 annual bonus of $156,390, as well as his company vehicle. The Transition Agreement also contains customary releases of claims, confidentiality, non-disparagement, cooperation and other restrictive covenant provisions. The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the Transition Agreement entered into between the Company and Mr. Boussaid, a copy of which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ending September 30, 2026.