Volvo Terminates Framework Purchase Agreement With Luminar Technologies Dated Mar. 23, 2020

On November 14, 2025, Luminar Technologies, Inc. ("Luminar" or the "Company") received a written notice from Volvo Car Corporation ("Volvo") to terminate, effective November 14, 2025, that certain Framework Purchase Agreement, originally dated March 23, 2020, by and between the Company and Volvo, including any amendments, side letters and other written agreements or understandings referenced therein or related thereto (collectively, the "Agreement"). Pursuant to the Agreement, the Company has collaborated with and provided hardware and software for integration into Volvo's global consumer vehicle platform.

As previously disclosed, the Company has made a claim against Volvo for significant damages and has suspended further commitments of Iris LiDAR products for Volvo pending resolution of the dispute. There can be no assurance that the dispute will be resolved favorably or at all. Furthermore, there can be no guarantee that any claim or litigation against Volvo will be successful or that the Company will be able to recover damages from Volvo.