Notice of Pendency of Class Action: Please be advised that your rights will be affected by the above-captioned stockholder class action (the “Action”) pending in the Court of Chancery of the State of Delaware (the “Court”) if you were a public stockholder of GGI Class A Common Stock at any time from September 27, 2021, through and including June 23, 2022.
Notice of Settlement: Please be advised that (i) Plaintiffs Terry May, Elizabeth May, Virgil Ecoffey, and Terry Jandreau (the “Plaintiffs”), on behalf of themselves and the Class, (ii) Defendants Gores Guggenheim Sponsor LLC, Alec E. Gores, Andrew M. Rosenfield, Mark R. Stone, Andrew McBride, Randall Bort, Elizabeth Marcellino, Nancy Tellem, AEG Holdings, LLC, GGP Sponsor Holdings, LLC, and GG Sponsor, LLC (collectively, the “Defendants,” and together with Plaintiffs, the “Parties,” and each a “Party”), and (iii) non-party Polestar Automotive Holding UK PLC (f/k/a Gores Guggenheim, Inc., “GGI”) (“Polestar” or the “Company”) have reached a proposed settlement for $25,000,000.00 in cash (the “Settlement Amount”) as set forth in the Stipulation (the “Settlement”). The Settlement, if approved, will resolve all claims in the Action.
PLEASE READ THE NOTICE CAREFULLY AND IN ITS ENTIRETY. The Notice explains how Class Members will be affected by the Settlement. The following table provides a brief summary of the rights you have as a Class Member and the relevant deadlines, which are described in more detail later in this Notice.
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TO RECEIVE A PAYMENT FROM THE SETTLEMENT, CLASS MEMBERS MUST SUBMIT A PROOF OF CLAIM FORM. PROOF OF CLAIM FORMS MUST BE POSTMARKED ON OR BEFORE JUNE 17, 2026. |
If you are a member of the Class, you may be eligible to receive a distribution from the Settlement proceeds. Authorized Claimants must submit a Proof of Claim Form in order to receive a distribution from the Settlement, if approved by the Court. If you are eligible to receive a distribution from the Settlement, it will be paid to you directly. Proof of Claim Forms must be postmarked on or before June 17, 2026. |
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OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN APRIL 27, 2026. |
If you are a member of the Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs’ Counsel’s request for a Fee and Expense Award (defined in Paragraph 47 in the notice), you may write to the Court and explain the reasons for your objection. |
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ATTEND A HEARING ON MAY 18, 2026, AT 1:30 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN APRIL 27, 2026. |
Filing a written objection and notice of intention to appear that is received by April 27, 2026, allows you to speak in Court, at the discretion of the Court, about your objection. In the Court’s discretion, the May 18, 2026, hearing may be conducted by telephone or videoconference (see Paragraphs 49-51 b). If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
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