Rivian Q3 revenue rises 38% to $2.16B as losses narrow

Rivian expects a limited Point to Point rollout later this year through an invitation-only program, with general release expected in 2027.

Rhea-AI Filing Summary

Rivian Automotive, Inc. (RIVN) reported third-quarter 2026 revenue of $2.155 billion, up 38% year over year, with 19,248 deliveries, up 46%. Consolidated gross profit was $176 million, compared with $24 million a year earlier; net loss attributable to common stockholders was $913 million, and adjusted EBITDA loss was $435 million. Software and services generated $605 million in revenue and $256 million in gross profit, a 42% margin; R2 was the best-selling Rivian vehicle by volume in the quarter, outselling R1 and EDV.

Free cash flow was $(1.124) billion, versus $(421) million a year earlier. Rivian raised full-year 2026 delivery guidance to 67,000–70,000 vehicles from 65,000–70,000; the current adjusted EBITDA range is $(1.85)–$(1.75) billion and capital expenditure range is $1.40–$1.50 billion. Management cited a $100 million improvement in adjusted EBITDA guidance midpoint and a $300 million decrease in capital expenditure guidance midpoint.

At September 30, 2026, cash, cash equivalents and short-term investments totaled $5.502 billion; pro forma available liquidity, including the $1.000 billion Volkswagen Group non-recourse 10-year term loan received in October, was $7.095 billion. The Board appointed Derek Mulvey, the company’s Vice President of Finance, interim CFO effective October 30, 2026.

3 points · 0 major

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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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Positive

• Moderate pointRevenue increased 38% year over year to $2.155 billion in Q3 2026.
• Moderate pointConsolidated gross profit improved by $152 million year over year to $176 million.
• Moderate pointAdjusted EBITDA loss was $435 million, compared with $602 million a year earlier.

Negative

• Moderate pointFree cash flow was $(1.124) billion, versus $(421) million a year earlier.

Filing Explained

The total is not all presently available: it includes targeted capital, while pro forma available liquidity is $7.095 billion.

This 8-K reports Rivian’s third-quarter results and revised 2026 guidance; its balance sheet lists common shares issued and outstanding rising from 1,240 million at December 31, 2025 to 1,460 million at September 30, 2026. The higher share count reduces existing holders’ percentage ownership absent offsetting changes.

The presentation’s “available liquidity and targeted future capital” total includes $7.095 billion of pro forma available liquidity and targeted capital, including a DOE loan of up to $4.5 billion. The first advance requires full equity contributions and contingencies to be pre-funded in reserve accounts, so the loan ceiling is not cash already drawn.

The presentation expects the first DOE advance by early 2027, subject to those pre-funding conditions.

8-K Event Classification

4 items: 2.02, 5.02, 7.01, 9.01

4 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Consolidated revenue: $2.155 billion Vehicles delivered: 19,248 vehicles Consolidated gross profit: $176 million +5 more

8 metrics

Consolidated revenue $2.155 billion Q3 2026; up 38% year over year

Vehicles delivered 19,248 vehicles Q3 2026; up 46% year over year

Consolidated gross profit $176 million Q3 2026; $152 million improvement year over year

Net loss attributable to common stockholders $913 million loss Q3 2026; compared with a $1.173 billion loss in Q3 2025

Adjusted EBITDA $435 million loss Q3 2026; compared with a $602 million loss in Q3 2025

Free cash flow $1.124 billion outflow Q3 2026; compared with a $421 million outflow in Q3 2025

Cash, cash equivalents, and short-term investments $5.502 billion At September 30, 2026

2026 delivery guidance 67,000–70,000 vehicles Raised from 65,000–70,000 vehicles

Key Terms

Adjusted EBITDA, Free cash flow, non-recourse 10-year term loan facility, asset-based revolving-credit facility, +1 more

5 terms

Adjusted EBITDA financial

"Adjusted EBITDA (non-GAAP)"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Free cash flow financial

"Free cash flow is defined as net cash used in operating activities less capital expenditures"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

non-recourse 10-year term loan facility financial

"non-recourse 10-year term loan facility from Volkswagen Group"

asset-based revolving-credit facility financial

"capacity under its asset-based revolving-credit facility"

A loan facility that lets a borrower draw, repay and redraw funds up to a set limit where repayment capacity is determined by the value of specified assets pledged as collateral. Lenders calculate a borrowing base—typically a percentage of eligible receivables, inventory and sometimes equipment or other assets—and periodic appraisals or audits adjust how much can be borrowed; if collateral falls, available credit shrinks automatically. Because the line is secured by assets rather than the borrower’s general credit, documents typically include advance rates, reporting requirements and cure or default mechanics tied to collateral performance.

Autonomy Early Access Program technical

"via the invitation-only Autonomy Early Access Program"

Earnings Snapshot

Revenue: $2.155 billion · Guidance included

Third quarter ended September 30, 2026

Revenue $2.155 billion Up 38% year over year

Gross profit $176 million $152 million improvement year over year

Net loss attributable to common stockholders $913 million loss Compared with a $1.173 billion loss in Q3 2025

Adjusted EBITDA $435 million loss Compared with a $602 million loss in Q3 2025

Free cash flow $1.124 billion outflow Compared with a $421 million outflow in Q3 2025

Guidance

2026: 67,000–70,000 vehicles delivered; adjusted EBITDA of $(1.85)–$(1.75) billion; capital expenditures of $1.40–$1.50 billion. Midpoint adjusted EBITDA guidance improved by $100 million, and capital expenditure guidance decreased by $300 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What compensation did RIVN set for interim CFO Derek Mulvey?

Rivian increased Derek Mulvey’s base salary to $400,000 per year and set his target annual incentive bonus opportunity at 40% of annual base salary. It also granted him 125,392 restricted stock units on September 21, 2026; 50% vest on February 15, 2027, and 50% on August 15, 2027, subject to continued service.

What is the next Uber investment milestone for RIVN?

Rivian expects its next partnership milestone by the end of 2026, which is anticipated to unlock an additional $250 million of equity investment from Uber to support autonomy development. The investment is milestone-based and subject to certain conditions and autonomy milestones.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/29/2026 - 04:01 PM EDT Accepted by SEC EDGAR 10/29/2026 - 04:00 PM EDT Learn about SEC filing dates

0001874178FALSERivian Automotive, Inc. / DE00018741782026-10-292026-10-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________

FORM 8-K

___________________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

October 27, 2026

Date of Report (date of earliest event reported)

___________________________________

Rivian Automotive, Inc.

(Exact name of registrant as specified in its charter)

___________________________________

Delaware (State or other jurisdiction of incorporation)

001-41042 (Commission File Number)

47-3544981 (IRS Employer Identification Number)

14600 Myford Road Irvine, California 92606

(Address of principal executive offices) (Zip code)

(888) 748-4261

(Registrant's telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

___________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐									Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐									Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐									Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐									Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A common stock, $0.001 par value per share

RIVN

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐

Item 2.02 - Results of Operations and Financial Condition.

On October 29, 2026, Rivian Automotive, Inc. (the “Company”) announced its financial results for the third quarter ended September 30, 2026. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. In the press release, the Company also announced that it will be holding an audio webcast on October 29, 2026 at 2:00pm PT / 5:00pm ET to discuss its financial results for the third quarter ended September 30, 2026.

The information furnished pursuant to Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On October 27, 2026, the Board of Directors (the "Board") of the Company appointed Derek Mulvey, the Company’s current Vice President of Finance, as the Company’s Interim Chief Financial Officer, effective as of October 30, 2026 upon the departure of the Company’s current Chief Financial Officer, as previously disclosed in the Company’s Current Report on Form 8-K as filed with the Securities and Exchange Commission on August 27, 2026. Mr. Mulvey has also been designated by the Board as the Company's principal financial officer.

Derek Mulvey, age 36, has served as the Company’s Vice President of Finance since March 2025. Previously at the Company, he was Senior Director of Strategic Finance and Investor Relations from June 2023 to March 2025, Director of Strategic Finance and Investor Relations from May 2022 to June 2023, and Senior Manager of Strategic Finance and Investor Relations from June 2021 to May 2022. Before joining the Company, Mr. Mulvey was a Vice President at J.P. Morgan, a multinational investment bank and financial services company. Mr. Mulvey holds a B.S. in Business and Technology from Stevens Institute of Technology.

In connection with Mr. Mulvey’s appointment as Interim Chief Financial Officer his base salary was increased to $400,000 per year, and he will have a target annual incentive bonus opportunity equal to 40% of his annual base salary. In addition, on September 21, 2026, the Company granted Mr. Mulvey 125,392 restricted stock units, 50% of which vest on February 15, 2027 and 50% of which vest on August 15, 2027, subject to continued service. Mr. Mulvey has also entered into the Company’s standard indemnification agreement for directors and executive officers.

Item 7.01 - Regulation FD Disclosure.

On October 29, 2026, the Company published an Earnings Presentation (the “Presentation”) on its investor relations website in connection with the announcement of its financial results for the third quarter ended September 30, 2026. The full text of the Presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.2 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act, or the Exchange Act, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

The Company is making reference to non-GAAP financial information in the press release, the Presentation, and the audio webcast. A reconciliation of these non-GAAP financial measures to their nearest GAAP equivalents is provided in the press release and the Presentation.

Item 9.01 - Financial Statements and Exhibits.

(d) Exhibits:

Exhibit No.						Description
99.1						Press Release, dated October 29, 2026
99.2						Earnings Presentation, dated October 29, 2026
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			RIVIAN AUTOMOTIVE, INC.
Date: October 29, 2026			By:			/s/ Claire McDonough
			Name:			Claire McDonough
			Title:			Chief Financial Officer

Rivian Releases Third Quarter 2026 Financial Results

•Generated $2.155 billion in revenue, a 38 percent increase year-over-year

•Deliveries up 46 percent year-over-year with R2 already the best-selling Rivian vehicle by volume, outselling both R1 and EDV in the third quarter

•Given Rivian’s strong performance, the company is improving 2026 guidance across all metrics

Irvine, California, October 29, 2026: Rivian Automotive, Inc. (NASDAQ: RIVN), an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and offers a suite of value-added services, today announced its third quarter 2026 financial results.

RJ Scaringe, Rivian Founder and CEO, said:

“We had great results with R2 becoming our best selling vehicle by volume in the third quarter. Customer and media feedback on R2 has been exceptional. Regarding our technology roadmap, our autonomy platform is progressing rapidly, and we are super excited about Point to Point. We are laying the foundations for a future that we believe will be fully electric, autonomous and AI defined. I could not be more excited about the opportunity ahead for Rivian.”

Business Highlights

Rivian achieved record production volumes in Normal, Illinois as it continued to ramp R2 manufacturing. The company had record deliveries of 19,248 units with R2 delivering much of the gain quarter-over-quarter. R2 is already the best-selling Rivian vehicle, outselling both R1 and EDV in the third quarter. R2 continues to generate rave reviews and awards from the media and recently won Top Gear’s SUV of the Year for 2027.

Rivian continues to innovate with software and AI. With the Rivian Assistant, Rivian has developed a smarter and more customizable AI-defined vehicle experience for R1 and R2 owners. In its October OTA (over-the-air) update, the company added Gmail integration to Rivian Assistant and released the annual “Halloween Mode.”

Rivian continues to see strong momentum in the company’s Autonomy+ offering, which is available on every R2 and R1 starting with the 2025 model year. Today, every vehicle with Autonomy+ is capable of Universal Hands-Free on millions of miles of roads. Rivian’s next milestone is the company’s Point to Point feature. This means customers will be able to enter an address while their vehicle follows the route from start to finish, handling city streets, stop lights, highway interchanges and everything in-between with driver supervision. A limited rollout of Point to Point is expected to begin later this year via the invitation-only Autonomy Early Access Program, with a general release to all Autonomy+ subscribers expected in 2027. Rivian believes Point to Point capabilities will be an important purchase criteria for customers and are becoming a driver of market share. Additionally, last week, Rivian announced the acquisition of Third Dimension AI to support its closed loop simulation efforts. The company will share more at its Autonomy and AI Day on December 9.

Third Quarter 2026 Results Summary

Production and Deliveries

•19,751 vehicles produced at Rivian’s manufacturing facility in Normal, Illinois.

•19,248 vehicles delivered to customers.

Revenues

•Consolidated revenue was $2.155 billion, a 38 percent increase over the same quarter of the prior year. This was driven by a 46 percent year-over-year increase in delivery volumes, $81 million in revenues related to regulatory credits, and strong performance from the company’s software and services segment.

◦Automotive revenue was $1.550 billion, a 36 percent increase over the same quarter of the prior year, primarily due to the increase in vehicle deliveries and an $80 million increase in revenues related to regulatory credits, which were partially offset by a decline in average vehicle selling price due to a higher mix of R2 and commercial van deliveries.

◦Software and services revenue was $605 million, a 45 percent increase over the same quarter of the prior year, primarily due to increases in vehicle electrical architecture and software development services, vehicle repair and maintenance services, and Autonomy+, partially offset by lower remarketing sales. $354 million or 59 percent of software and services revenue was attributable to the company’s joint venture with Volkswagen Group.

Gross Profit

•Consolidated gross profit was $176 million, a $152 million improvement over the same quarter of the prior year.

◦Automotive gross profit loss for the third quarter was $(80) million compared to $(130) million in the same quarter of the prior year, a $50 million improvement primarily resulting from increases in delivery volumes at an improved per unit margin, an increase in revenues related to regulatory credits, and an IEEPA tariff refund receivable, partially offset by costs related to the ramp of R2 production. In the quarter, Rivian recognized approximately $120 million in incremental cost of revenues due to the ramp of R2 production as compared to production at more normalized levels.

◦Software and services gross profit for the third quarter was $256 million, a 42 percent margin and $102 million improvement over the same quarter of the prior year at $154 million, primarily due to increases in vehicle electrical architecture and software development services from the joint venture with Volkswagen Group and Autonomy+.

Operating Expenses and Operating Loss

•Total operating expenses in the third quarter increased to $1.057 billion compared to $1.007 billion in the same quarter of the prior year.

◦Research and development (R&D) expenses were $485 million compared to $453 million in the same quarter of the prior year. The increase was primarily driven by increases in software expenses to support AI and autonomy initiatives, partially offset by a reduction in engineering, design, and development spend.

◦Selling, general and administrative (SG&A) expenses remained relatively consistent at $572 million compared to $554 million in the same quarter of the prior year.

•For the third quarter, the company experienced a loss from operations of $(881) million compared to $(983) million in the same quarter of the prior year, a $102 million improvement.

Adjusted Operating Expenses (non-GAAP)

•Total adjusted operating expenses for the third quarter were $799 million compared to $783 million for the same quarter of the prior year.

◦Adjusted R&D expenses for the third quarter were $382 million compared to $361 million for the same quarter of the prior year.

◦Adjusted SG&A expenses for the third quarter were $417 million compared to $422 million for the same quarter of the prior year.

Net Loss

•Net loss attributable to common stockholders for the third quarter was $(913) million compared to $(1.173) billion for the same quarter of the prior year.

Adjusted EBITDA (non-GAAP)

•Adjusted EBITDA for the third quarter was $(435) million compared to $(602) million for the same quarter of the prior year.

Net Cash Used in Operating Activities

•Net cash (used in) provided by operating activities for the third quarter was $(758) million, compared to $26 million for the same quarter of the prior year, primarily driven by a change in cash used by working capital. Cash used by working capital for the third quarter of 2026 was primarily driven by a reduction in deferred revenues and a buildup of inventory purchases to support the launch of R2.

Adjusted Net Loss Per Share

•Adjusted net loss per share for the third quarter was $(0.48) compared to $(0.65) for the same quarter of the prior year.

Capital Expenditures

•Capital expenditures for the third quarter were $(366) million, compared to $(447) million for the same quarter of the prior year.

Liquidity and Free Cash Flow (non-GAAP)

•Rivian ended the third quarter with $5.502 billion in cash, cash equivalents, and short-term investments.

◦Including the capacity under its asset-based revolving-credit facility, the company ended the third quarter with $6.095 billion of total liquidity, which, with the pro forma addition of $1.000 billion received in October 2026 from the non-recourse 10-year term loan facility from Volkswagen Group, would be total available liquidity of $7.095 billion.

•Rivian defines free cash flow as net cash used in operating activities less capital expenditures. The net cash used by operating activities in the third quarter partially offset by the decrease in capital expenditures identified above resulted in free cash flow of $(1,124) million compared to $(421) million for the same quarter of the prior year.

2026 Annual Guidance Summary

•Full year delivery guidance is improving from 65,000 - 70,000 units to 67,000 - 70,000 units as a result of the production and delivery outlook for the fourth quarter of 2026.

•Adjusted EBITDA is improving by $100 million at the mid-point due to better than expected revenue related to regulatory credits, an IEEPA tariff refund receivable in the third quarter, and an expected increase in delivery volumes.

•Capital Expenditures are decreasing by $300 million at the mid-point due to timing of spend.

			Current Outlook
Vehicles Delivered			67,000 – 70,000
Adjusted EBITDA			$(1.85)B – $(1.75)B
Capital Expenditures			$1.40B – $1.50B

Third Quarter 2026 Results Webcast and Replay Information

Rivian will host an audio webcast to discuss its results and provide a business update at 2:00pm PT / 5:00pm ET on October 29, 2026. The link to the webcast and shareholder presentation will be made available on the company’s Investor Relations website at rivian.com/investors. After the call, a replay will be available at rivian.com/investors for four weeks. 

Quarterly Financial Performance

(in millions, except production, delivery, and gross margin)

(unaudited)

						Three Months Ended
						September 30, 2025						December 31, 2025						March 31, 2026						June 30, 2026						September 30, 2026
Production						10,720						10,974						10,236						12,613						19,751
Delivery						13,201						9,745						10,365						12,194						19,248
Revenues
Automotive						$	1,142					$	839					$	908					$	1,143					$	1,550
Software and services						416						447						473						515						605
Total revenues						$	1,558					$	1,286					$	1,381					$	1,658					$	2,155
Cost of revenues
Automotive						$	1,272					$	898					$	970					$	1,179					$	1,630
Software and services						262						268						292						300						349
Total cost of revenues						$	1,534					$	1,166					$	1,262					$	1,479					$	1,979
Gross profit						$	24					$	120					$	119					$	179					$	176
Gross margin						2		%				9		%				9		%				11		%				8		%
Research and development						$	453					$	424					$	458					$	466					$	485
Selling, general, and administrative						554						529						542						549						572
Total operating expenses						$	1,007					$	953					$	1,000					$	1,015					$	1,057
Adjusted research and development (non-GAAP)¹						$	361					$	328					$	348					$	347					$	382
Adjusted selling, general, and administrative (non-GAAP)¹						422						384						392						384						417
Total adjusted operating expenses (non-GAAP)¹						$	783					$	712					$	740					$	731					$	799
Adjusted EBITDA (non-GAAP)1						$	(602)					$	(465)					$	(472)					$	(379)					$	(435)
Cash, cash equivalents, and short-term investments						$	7,088					$	6,082					$	4,830					$	5,310					$	5,502
Net cash provided by (used in) operating activities						$	26					$	(681)					$	(703)					$	(487)					$	(758)
Capital expenditures						(447)						(463)						(372)						(362)						(366)
Free cash flow (non-GAAP)1						$	(421)					$	(1,144)					$	(1,075)					$	(849)					$	(1,124)
Depreciation and amortization expense
Cost of revenues						$	125					$	108					$	122					$	138					$	166
Research and development						18						20						23						25						24
Selling, general, and administrative						55						59						57						64						61
Total depreciation and amortization expense						$	198					$	187					$	202					$	227					$	251
Stock-based compensation expense
Cost of revenues						$	24					$	26					$	27					$	31					$	28
Research and development						74						76						87						94						79
Selling, general, and administrative						77						86						93						101						94
Total stock-based compensation expense						$	175					$	188					$	207					$	226					$	201
¹A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided later in this presentation.

Condensed Consolidated Balance Sheets1

(in millions, except per share amounts)

(unaudited)

Assets						December 31, 2025						September 30, 2026
Current assets:
Cash and cash equivalents						$	3,579					$	3,509
Short-term investments						2,503						1,993
Accounts receivable, net						555						596
Inventory						1,594						1,779
Other current assets						361						259
Total current assets						8,592						8,136
Property, plant, and equipment, net						5,119						5,605
Operating lease assets, net						571						778
Strategic investments						119						682
Other non-current assets						463						526
Total assets						$	14,864					$	15,727
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable						$	595					$	1,038
Accrued liabilities						1,438						1,104
Current portion of deferred revenues, lease liabilities, and other liabilities						1,660						1,598
Total current liabilities						3,693						3,740
Long-term debt						4,440						4,446
Non-current lease liabilities						551						764
Other non-current liabilities						1,586						1,059
Total liabilities						10,270						10,009
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; 10 shares authorized and 0 shares issued and outstanding as of December 31, 2025 and September 30, 2026						—						—
Common stock, $0.001 par value; 5,258 and 5,258 shares authorized and 1,240 and 1,460 shares issued and outstanding as of December 31, 2025 and September 30, 2026, respectively						1						1
Additional paid-in capital						31,508						34,806
Accumulated deficit						(26,951)						(29,113)
Accumulated other comprehensive income (loss)						8						(3)
Noncontrolling interest						28						27
Total stockholders' equity						4,594						5,718
Total liabilities and stockholders' equity						$	14,864					$	15,727
1 The prior period has been recast to conform to current period presentation.

Condensed Consolidated Statements of Operations

(in millions, except per share amounts)

(unaudited)

												Three Months Ended September 30,												Nine Months Ended September 30,
																		2025						2026						2025						2026
Automotive																		$	1,142					$	1,550					$	2,991					$	3,601
Software and services																		416						605						1,110						1,593
Total revenues																		1,558						2,155						4,101						5,194
Automotive																		1,272						1,630						3,364						3,779
Software and services																		262						349						713						941
Total cost of revenues																		1,534						1,979						4,077						4,720
Gross profit																		24						176						24						474
Operating expenses
Research and development																		453						485						1,244						1,409
Selling, general, and administrative																		554						572						1,532						1,663
Total operating expenses																		1,007						1,057						2,776						3,072
Loss from operations																		(983)						(881)						(2,752)						(2,598)
Interest income																		76						55						229						153
Interest expense																		(69)						(74)						(210)						(207)
Other (expense) income, net1																		(191)						(8)						(86)						488
Loss before income taxes																		(1,167)						(908)						(2,819)						(2,164)
Provision for income taxes																		1						1						(3)						4
Net loss																		(1,166)						(907)						(2,822)						(2,160)
Less: Net income attributable to noncontrolling interest																		7						6						13						2
Net loss attributable to common stockholders																		$	(1,173)					$	(913)					$	(2,835)					$	(2,162)
Net loss attributable to common stockholders, basic and diluted																		$	(1,173)					$	(913)					$	(2,835)					$	(2,162)
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted																		$	(0.96)					$	(0.63)					$	(2.42)					$	(1.61)
Weighted-average common shares outstanding, basic and diluted																		1,220						1,446						1,171						1,341
1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" related to the Series A capital raise and related deconsolidation of Mind Robotics.

Condensed Consolidated Statements of Cash Flows1

(in millions)

(unaudited)

						Nine Months Ended September 30,
						2025						2026
Cash flows from operating activities:
Net loss						$	(2,822)					$	(2,160)
Depreciation and amortization						583						682
Stock-based compensation expense						551						634
Gain on strategic investments						(101)						(506)
Other non-cash activities						(6)						89
Changes in operating assets and liabilities:
Accounts receivable, net						267						(44)
Inventory						511						(372)
Other assets						(26)						144
Accounts payable and accrued liabilities						488						268
Deferred revenues						495						(637)
Other liabilities						(38)						(46)
Net cash used in operating activities						(98)						(1,948)
Cash flows from investing activities:
Purchases of short-term investments and shares for deferred compensation						(2,571)						(2,045)
Sales of short-term investments and shares for deferred compensation						107						32
Maturities of short-term investments						2,204						2,463
Deconsolidation of Mind Robotics, Inc.						—						(114)
Capital expenditures						(1,247)						(1,100)
Net cash used in investing activities						(1,507)						(764)
Cash flows from financing activities:
Proceeds from stock-based compensation programs						$	34					$	40
Proceeds from issuance of capital stock						750						2,617
Proceeds from issuance of long-term debt						1,250						—
Repayments of long-term debt						(1,250)						—
Other financing activities						(37)						(11)
Net cash provided by financing activities						747						2,646
Effect of exchange rate changes on cash and cash equivalents						5						(4)
Net change in cash						(853)						(70)
Cash and cash equivalents, and restricted cash - Beginning of period						5,294						3,579
Cash and cash equivalents, and restricted cash - End of period						$	4,441					$	3,509
Supplemental disclosure of non-cash investing and financing activities:
Capital expenditures included in liabilities						$	499					$	386
Capital stock issued to settle bonuses						$	47					$	110
Right-of-use assets obtained in exchange for operating lease liabilities						$	224					$	302
1 The prior period has been recast to conform to current period presentation.

Reconciliation of Non-GAAP

Financial Measures

(in millions)

(unaudited)

						Three Months Ended
						September 30, 2025						December 31, 2025						March 31, 2026						June 30, 2026						September 30, 2026
Adjusted Research and Development Expenses
Total research and development expenses						$	453					$	424					$	458					$	466					$	485
R&D depreciation and amortization expenses						(18)						(20)						(23)						(25)						(24)
R&D stock-based compensation expenses						(74)						(76)						(87)						(94)						(79)
Adjusted research and development (non-GAAP)						$	361					$	328					$	348					$	347					$	382
Adjusted Selling, General, and Administrative Expenses
Total selling, general, and administrative expenses						$	554					$	529					$	542					$	549					$	572
SG&A depreciation and amortization expenses						(55)						(59)						(57)						(64)						(61)
SG&A stock-based compensation expenses						(77)						(86)						(93)						(101)						(94)
Adjusted selling, general, and administrative (non-GAAP)						$	422					$	384					$	392					$	384					$	417
Adjusted Operating Expenses
Total operating expenses						$	1,007					$	953					$	1,000					$	1,015					$	1,057
R&D depreciation and amortization expenses						(18)						(20)						(23)						(25)						(24)
R&D stock-based compensation expenses						(74)						(76)						(87)						(94)						(79)
SG&A depreciation and amortization expenses						(55)						(59)						(57)						(64)						(61)
SG&A stock-based compensation expenses						(77)						(86)						(93)						(101)						(94)
Total adjusted operating expenses (non-GAAP)						$	783					$	712					$	740					$	731					$	799
Adjusted EBITDA
Net loss attributable to common stockholders						$	(1,173)					$	(811)					$	(416)					$	(833)					$	(913)
Interest (income) expense, net						(7)						—						15						20						19
Provision for income taxes						(1)						3						(2)						(1)						(1)
Depreciation and amortization						198						187						202						227						251
Stock-based compensation expense						175						188						207						226						201
Other expense (income), net¹						191						(32)						(478)						(18)						8
Restructuring expenses						15						—						—						—						—
Adjusted EBITDA (non-GAAP)						$	(602)					$	(465)					$	(472)					$	(379)					$	(435)
1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" on the Condensed Consolidated Statements of Operations related to the Series A capital raise and related deconsolidation of Mind Robotics.

Quarterly Financial Performance

Reconciliation of Non-GAAP

Financial Measures Continued

(in millions, except per share amounts)

(unaudited)

						Three Months Ended
						September 30, 2025						December 31, 2025						March 31, 2026						June 30, 2026						September 30, 2026
Adjusted Net Loss
Net loss attributable to common stockholders, basic and diluted						$	(1,173)					$	(811)					$	(416)					$	(833)					$	(913)
Stock-based compensation expense						175						188						207						226						201
Other expense (income), net¹						191						(32)						(478)						(18)						8
Restructuring expenses						15						—						—						—						—
Adjusted net loss attributable to common stockholders, basic and diluted (non-GAAP)						$	(792)					$	(655)					$	(687)					$	(625)					$	(704)
Adjusted Net Loss Per Share
Net loss per share attributable to common stockholders, basic and diluted						$	(0.96)					$	(0.66)					$	(0.33)					$	(0.63)					$	(0.63)
Stock-based compensation expense per share						0.14						0.15						0.17						0.17						0.14
Other expense (income), net per share¹						0.16						(0.03)						(0.38)						(0.01)						0.01
Restructuring expenses per share						0.01						—						—						—						—
Adjusted net loss per share attributable to common stockholders, basic and diluted (non-GAAP)						$	(0.65)					$	(0.54)		*			$	(0.54)		*			$	(0.47)					$	(0.48)		*
Weighted-average common shares outstanding, basic and diluted (GAAP)						1,220						1,233						1,249						1,325						1,446
* Does not calculate due to rounding.
Free Cash Flow
Net cash provided by (used in) operating activities						$	26					$	(681)					$	(703)					$	(487)					$	(758)
Capital expenditures						(447)						(463)						(372)						(362)						(366)
Free cash flow (non-GAAP)						$	(421)					$	(1,144)					$	(1,075)					$	(849)					$	(1,124)
1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" on the Condensed Consolidated Statements of Operations related to the Series A capital raise and related deconsolidation of Mind Robotics.

Forward Looking Statements:

This press release and statements that are made on our earnings call contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release and made on our earnings call that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our future operations, initiatives and business strategy, including our future financial results, liquidity, vehicle profitability and future gross profits, our future capital expenditures and R&D investments, the underlying trends in our business (including customer preferences and expectation), macroeconomic and policy conditions, including changes to applicable tariffs and to the availability of government and economic incentives, including tax credits, for electric vehicles, our market opportunity, and our potential for growth, our production ramp and manufacturing capacity expansion and anticipated production levels, the timeline for the construction activity at the Georgia plant, the timeline for drawing on our Department of Energy Loan, our expected future production and deliveries, our expected future products and technology and product enhancements, including enhanced performance features and pricing (including the timing of launches and customer deliveries), our roadmap and timeline for the release of our next-generation vehicle autonomy systems, hardware, and software architecture underpinned by artificial intelligence, including LDM, Rivian Assistant, Universal Hands-Free, RUI, and Point to Point, future revenue opportunities, including with respect to the emerging autonomous driving market, our joint venture with Volkswagen Group, including the expected benefits from the partnership and future Volkswagen Group investments, our partnership with Uber Technologies, Inc., including the expected benefits from the partnership and future Uber investments, the achievement of certain milestones and regulatory approvals, the expected benefits of the Third Dimension AI acquisition, and expected benefits from partnerships with other third parties. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to: our history of losses as a growth-stage company and our limited operating history; we may underestimate or not effectively manage the cost of revenues, operating expenses, and capital expenditures associated with our business and operations; that we will require additional financings to raise capital to support our business; our ability to attract and retain a large number of consumers and maintain strong demand for our vehicles, software and services; the highly competitive automotive and software and services markets in which we operate; demand for and consumers’ willingness to adopt electric vehicles; that our long-term results depend upon our ability to successfully introduce, integrate and market new products and services; that we have experienced and may in the future experience significant delays in the manufacture and delivery of our vehicles; risks associated with the development of complex software and hardware in coordination with our joint venture with Volkswagen Group and our other vendors and suppliers; risks associated with our joint venture with Volkswagen Group; risks associated with additional strategic alliances or acquisitions; we have experienced and could experience in the future cost increases and disruptions in supply of raw materials, components, or equipment used to produce our vehicles; our dependence on establishing and maintaining relationships with vendors and suppliers; our ability to accurately estimate the supply and demand for our vehicles and predict our manufacturing requirements; our ability to scale our business and manage future growth effectively; our ability to maintain our relationship with one customer that has generated a significant portion of our revenues; that we are highly dependent on the services and reputation of our Founder and Chief Executive Officer; the unavailability, reduction or elimination of government and economic incentives and credits for electric vehicles; that we may not be able to obtain or agree on acceptable terms and conditions for all or a significant portion of the government grants, loans, and other incentives, including regulatory credits, for which we apply or are approved for; risks

associated with breaches in data security, failure of technology systems, cyber-attacks or other security or privacy-related incidents; risk of intellectual property infringement claims; effect of trade tariffs or other trade barriers; effects of export and import control laws; risks related to motor vehicle safety standards; delays, limitations and risks related to permits and other approvals required to build, operate or expand operations including the construction and development of facilities to support R2; and the other factors described in our filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, except as may be required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change.

*Non-GAAP Financial Measures

In addition to our results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), we review financial measures that are not calculated and presented in accordance with GAAP (“non-GAAP financial measures”). We believe our non-GAAP financial measures are useful in evaluating our operating performance. We use the following non-GAAP financial information, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors, because it focuses on underlying operating results and trends, provides consistency and comparability with past financial performance, and assists in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation of each historical non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP is provided above. Reconciliations of forward- looking non-GAAP financial measures are not provided because we are unable to provide such reconciliations without unreasonable effort due to the uncertainty regarding, and potential variability of, certain items, such as stock-based compensation expense and other costs and expenses that may be incurred in the future. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.

Our non-GAAP financial measures include adjusted research and development expenses, adjusted selling, general, and administrative expenses, total adjusted operating expenses, adjusted EBITDA, adjusted net loss, adjusted net loss per share, and free cash flow.

Adjusted research and development expenses is defined as total research and development expenses, less R&D depreciation and amortization expenses and R&D stock-based compensation expenses.

Adjusted selling, general, and administrative expenses is defined as total selling, general, and administrative expenses, less SG&A depreciation and amortization expenses and SG&A stock-based compensation expenses.

Adjusted operating expenses is defined as total operating expenses, less R&D depreciation and amortization expenses, R&D stock-based compensation expenses, SG&A depreciation and amortization expenses, and SG&A stock-based compensation expenses.

Adjusted EBITDA is defined as net loss before interest expense (income), net, provision for income taxes, depreciation and amortization, stock-based compensation, other expense (income), net, and special items. Our management team ordinarily excludes special items from its review of the results of the ongoing operations. Special items is comprised of (i) cost of revenue efficiency initiatives which include costs incurred as we transition between major vehicle programs, cost incurred for negotiations with major suppliers regarding changing demand forecasts or design modifications, and other costs for enhancing capital and cost optimization of the Company (ii) restructuring expenses for significant actions taken by the Company, (iii) significant asset impairments and write-offs, and (iv) other items that we do not necessarily consider to be indicative of earnings from ongoing operating activities, including fair value gain or loss on convertible note, net, and joint venture formation expenses.

Adjusted net loss is defined as net loss before stock-based compensation expense, other (expense) income, and special items. Our management team ordinarily excludes special items from its review of the results of the ongoing operations. Special items is comprised of (i) cost of revenue efficiency initiatives which include costs incurred as we transition between major vehicle programs, cost incurred for negotiations with major suppliers regarding changing demand forecasts or design modifications, and other costs for enhancing capital and cost optimization of the Company (ii) restructuring expenses for significant actions taken by the Company, (iii) significant asset impairments and write-offs, and (iv) other items that we do not necessarily consider to be indicative of earnings from ongoing operating activities, including fair value gain or loss on convertible note, net, and joint venture formation expenses.

Adjusted net loss per share is defined as adjusted net loss divided by the weighted-average common shares outstanding.

Free cash flow is defined as net cash used in operating activities less capital expenditures.

About Rivian:

Rivian (NASDAQ: RIVN) is an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and offers a suite of value-added services. Through innovation across its electrical architecture, end-to-end software, autonomous driving platform, artificial intelligence, and propulsion, the company creates vehicles that excel at work and play with the goal of accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are manufactured in the United States and are sold directly to consumer and commercial customers. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come.

Contacts:

Investors: ir@rivian.com

Media: Harry Porter, media@rivian.com

October 29, 2026 Q3 2026 Earnings Presentation

2Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Public Disclosure Statement Forward Looking Statements This earnings presentation and statements that are made on our earnings call contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in  this earnings presentation and made on our earnings call that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding our future  operations, initiatives and business strategy, including our future financial results, vehicle profitability and future gross profits, our future capital expenditures, the underlying trends in our business (including customer  preferences and expectation), macroeconomic and policy conditions, including changes to the availability of government and economic incentives, including tax credits, for electric vehicles, our market opportunity,  and our potential for growth, our production ramp and manufacturing capacity expansion and anticipated production levels, the timeline for construction activity at the Georgia plant, the timeline for drawing on our  Department of Energy Loan, our expected future production and deliveries, our expected future products and technology and product enhancements, including enhanced performance features and pricing (including  the timing of launches and customer deliveries), our roadmap and timeline for the release of our next-generation vehicle autonomy systems, hardware, and software architecture underpinned by artificial intelligence,  including LDM, Rivian Assistant, Universal Hands-Free, RUI, and Point to Point, future revenue opportunities, including with respect to the emerging autonomous driving market, our joint venture with Volkswagen  Group, including the expected benefits from the partnership and future Volkswagen Group investments, our partnership with Uber Technologies, Inc., including the expected benefits from the partnership and future  Uber investments, the achievement of certain milestones and regulatory approval, the timeline, total purchase, and deployment plans for fully autonomous R2 robotaxis by Uber and its fleet partners, the expected  benefits of the Third Dimension AI acquisition, and expected benefits from partnerships with other third parties. These statements are neither promises nor guarantees and involve known and unknown risks,  uncertainties, and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the  forward-looking statements, including, but not limited to: our history of losses as a growth-stage company and our limited operating history; we may underestimate or not effectively manage the cost of revenues,  operating expenses, and capital expenditures associated with our business and operations; that we will require additional financings to raise capital to support our business; our ability to attract and retain a large  number of consumers and maintain strong demand for our vehicles, software and services; the highly competitive automotive and software and services markets in which we operate; demand for and consumers’  willingness to adopt electric vehicles; that our long-term results depend upon our ability to successfully introduce, integrate and market new products and services; that we have experienced and may in the future  experience significant delays in the manufacture and delivery of our vehicles; risks associated with the development of complex software and hardware in coordination with our joint venture with Volkswagen Group  and our other vendors and suppliers; risks associated with our joint venture with Volkswagen Group; risks associated with additional strategic alliances or acquisitions; we have experienced and could experience in the  future cost increases and disruptions in supply of raw materials, components, or equipment used to produce our vehicles; our dependence on establishing and maintaining relationships with vendors and suppliers; our  ability to accurately estimate the supply and demand for our vehicles and predict our manufacturing requirements; our ability to scale our business and manage future growth effectively; our ability to maintain our  relationship with one customer that has generated a significant portion of our revenues; that we are highly dependent on the services and reputation of our Founder and Chief Executive Officer; the unavailability,  reduction or elimination of government and economic incentives and credits for electric vehicles; that we may not be able to obtain or agree on acceptable terms and conditions for all or a significant portion of the  government grants, loans, and other incentives, including regulatory credits, for which we apply or are approved for; risks associated with breaches in data security, failure of technology systems, cyber-attacks or other  security or privacy-related incidents; risk of intellectual property infringement claims; effect of trade tariffs or other trade barriers; effects of export and import control laws; risks related to motor vehicle safety  standards; delays, limitations and risks related to permits and other approvals required to build, operate or expand operations including the construction and development of facilities to support R2; and the other  factors described in our filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this earnings presentation. Any such forward- looking statements represent management’s estimates as of the date of this earnings presentation. While we may elect to update such forward-looking statements at some point in the future, except as may be  required by law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Non-GAAP Financial Measures In addition to our results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), we review financial measures that are not calculated and presented in accordance with  GAAP (“non-GAAP financial measures”). We believe our non-GAAP financial measures are useful in evaluating our operating performance. We use the following non-GAAP financial information, collectively, to evaluate  our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors, because it focuses on underlying  operating results and trends, provides consistency and comparability with past financial performance, and assists in comparisons with other companies, some of which use similar non-GAAP financial information to  supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance  with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation of each historical non-GAAP financial measure to the most directly comparable financial measure  stated in accordance with GAAP is provided in the appendix. Reconciliations of forward- looking non-GAAP financial measures are not provided because we are unable to provide such reconciliations without  unreasonable effort due to the uncertainty regarding, and potential variability of, certain items, such as stock-based compensation expense and other costs and expenses that may be incurred in the future. Investors  are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.

Highlights, Financial Results, and Guidance 4    Q3 2026 Business Summary 5    Progress on Rivian's Strategic Priorities 6 Positive Customer Feedback as R2 Production Ramp Accelerates 7 Rivian’s Autonomy Data Flywheel is Designed for the Road Ahead 8          Software and AI: Vertical Integration in Action 9 Scaling U.S. Manufacturing across Two Plants 10 Strategic Investments & Partnerships 11 Business Outlook 12 Summary Financial Performance and Operating Metrics 13 Automotive Segment Performance 14 Software and Services Segment Performance 15 Balance Sheet and Liquidity 16 U.S. Department of Energy Loan Financial Statements and Non-GAAP Reconciliations 18   Quarterly Financial Performance 19   Condensed Consolidated Balance Sheets 20 Condensed Consolidated Statements of Operations 21   Condensed Consolidated Statements of Cash Flows 22   Depreciation and Amortization & Stock-Based Compensation Expense 23 Reconciliation of Non-GAAP Financial Measures and Definitions 3Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Table of Contents

At Rivian, we are laying the foundations for a future that we believe will be fully  electric, autonomous and AI defined. Rivian had a great third quarter. We achieved  record production volumes at our plant in Normal, Illinois as we continued to ramp R2  manufacturing. We had record deliveries, with R2 delivering much of the gain quarter- over-quarter. R2 is already Rivian's best-selling vehicle by volume, outselling both R1  and EDV in the third quarter. We also started a second R2 production shift and expect  our run rate to increase over the coming quarters. Since its launch in June we’ve seen all types of potential customers drive R2, and the  feedback has been outstanding.  Autonomy+ Roadmap Rivian continues to see strong momentum in our Autonomy+ offering which is  available on every R2 and R1 starting with the 2025 model year. Point to Point is the  next milestone on our roadmap. A limited rollout of the feature is expected to begin  later this year with our invitation-only Autonomy Early Access Program, with a general  release to all Autonomy+ subscribers in 2027. We look forward to sharing more at our  Autonomy and AI Day on December 9th. Software & AI Update Rivian continues to innovate with software and AI. With the Rivian Assistant, we have  developed a smarter and more customizable AI-defined vehicle experience for  owners. In our October over-the-air (OTA) update, we added Gmail integration to  Rivian Assistant and released our annual “Halloween Mode.” Quarterly Financial Highlights In the third quarter, Rivian generated $2.155 billion of revenue, a 38% increase over  the same quarter last year driven by a 46% year-over-year increase in delivery  volumes and strong performance from our software and services segment. Gross  profit was $176 million. Given our strong performance, we are improving 2026  guidance across all metrics.  4Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. R2 production ramping and continued technology momentum Q3 2026 Business Summary

Drive Towards Profitability • Record deliveries of 19,248 vehicles in Q3, a 46% year-over-year increase  with R2 already the best-selling Rivian vehicle, outselling both R1 and EDV  in the third quarter • Software and services segment reported another strong quarter generating  $605 million in revenue and gross profit of $256 million, a 42% margin Optimize Operational Efficiency • Brought a second R2 production shift online in Normal, Illinois which is expected  to drive higher utilization of shared shops across R1, R2 and EDV and further  improve fixed cost leverage  • Automotive COGS per unit improved by over $12,000 quarter-over-quarter as  a result of a higher R2 mix and fixed cost leverage Technology Focus • Rivian Assistant, RivianOS 2 and "Halloween Mode" were released to all R1 and R2  customers, with additional OTA updates such as "Pet Cam" for R2 • Continued strong momentum in our Autonomy+ offering with take rates trending  ahead of our expectations Demand Generation and Enhancing the Customer Experience • Strong R2 reviews and increasing brand awareness, including being named  Top Gear’s 2027 SUV of the Year1 with more awards to come • Launched R1 2027 model year with new features, new trims and more standard  capability — including new captain’s chairs, Esker Silver, and a restructured  trim lineup 1 https://www.topgear.com/car-news/usa/best-cars-america-welcome-topgearcoms-us-car-awards-2027 5Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Progress on Rivian's Strategic Priorities Scaling R2 production and deliveries supports path to profitability

Positive Customer Feedback as R2 Production Ramp Accelerates Second shift started in Normal, Illinois as R2 production scales Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 6 In a U.S. automotive marketplace starved for high-quality EV choice, R2 is an  attractively priced option for everyday adventures that is resonating with a broad  set of consumers and we expect will be a game changer for Rivian’s long-term  growth and profitability.  R2 production continued to ramp in the third quarter including the start of a  second production shift in Normal, Illinois.   Reservation holders continue to receive invitations to configure and order in rolling  batches. Reservation conversion rates for the launch edition performance R2 trim  remained higher in the quarter than our expectations.   Strong R2 reviews and increasing brand awareness translated into increasing  customer touchpoints, with a record number of demo drives in the third quarter. 

Rivian’s Autonomy Data Flywheel is Designed for the Road Ahead Expected to enable a path to advanced autonomy, which we believe is becoming a driver of market share Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 7 Autonomy remains one of the most important areas of investment at Rivian. We  believe Point to Point capabilities are going to be an important purchase criteria for  customers and are becoming a driver of market share.  Point to Point Coming Soon We continue to see strong momentum in our Autonomy+ offering with take rates  trending ahead of our expectations. Today, every R2 and R1 starting with the 2025  model year is capable of Universal Hands-Free and lane change on command on  millions of miles of roads. Point to Point is the next milestone. This means customers  will be able to enter an address and their vehicle will follow the route from start to  finish, handling city streets, stop lights, highway interchanges and everything in  between with driver supervision. A limited rollout of Point to Point is expected to  begin later this year via the invitation-only Autonomy Early Access Program, with the  feature expected to be available to all Autonomy+ subscribers in 2027.  Acquisition of Third Dimension AI Last week, we announced another step forward in Rivian's autonomy development  with the acquisition of Third Dimension AI. The team at Third Dimension is using  leading edge AI simulation technology to construct hyper-realistic 3D digital twins  and synthetic driving environments, including edge case scenarios. Bringing this  team and capability into Rivian accelerates our closed loop simulation capabilities  which are critical for model evaluation and validation as we progress toward driver- out systems. Uber Robotaxi Partnership We continue to make progress on our partnership with Uber. We expect to achieve  our next milestone by the end of this year, which is anticipated to unlock an  additional $250 million of equity investment from Uber to support our autonomy  development roadmap.

Software and AI: Vertical Integration in Action Rivian developed a smarter and more customizable AI-defined vehicle experience for all R1 and R2 owners Our relentless focus on vertical integration remains a core competitive  differentiator, allowing Rivian to seamlessly unify our hardware and software  architecture to deliver significant value to our customers. With RivianOS 2, we rebuilt the entire infotainment experience on an AI-defined  platform across all consumer vehicles. Every improvement now lands across the  full lineup at once, including a redesigned interface, a next-generation graphics  engine built on Unreal Engine 5, real-time route alerts, and deeper integration  with Rivian Unified Intelligence, our common AI foundation. In October, Rivian Assistant arrived on R2, bringing the same hands-free, voice- powered control R1 owners have loved to our newest vehicle. We also expanded  our Volkswagen joint venture, licensing elements of our AI Voice Assistant  technology as part of the broader electrical architecture and software partnership  — a proof point for the extensibility of the platform we’ve built in-house. Because we control the entire technology stack — compute, sensors, displays,  lighting and sound — we can roll out rapid, vehicle-wide OTA updates that go well  beyond the basics. R2 owners gained "Pet Cam", a live view of their pet from the  Rivian app and we turned the entire vehicle into a seasonal experience, partnering  with Sony Pictures to bring the Ghostbusters universe to every Rivian via  "Halloween Mode" — syncing lighting, sound, displays and voice from a single OTA  update. None of this would be possible without our structural advantage: owning our  hardware and software end to end lets us push creative, real-time experiences  straight to the vehicle's displays, lighting and sound systems. Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 8

Scaling U.S. Manufacturing across Two Plants Supports capacity growth up to 515,000 vehicles per year with significant room for future expansion in later phases1 Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 9 1 Site capacity does not equal current production rates. There may be limitations discovered as production rates approach capacity. Production rates depend on a variety of factors, including equipment uptime, component supply, downtime related to factory upgrades, regulatory considerations and other factors.

Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 10 Strategic Investments & Partnerships Highlights extensibility of our technology and vehicle programs to drive value Momentum in our Commercial Business with Amazon Amazon continues to expand their fleet of Rivian Electric Delivery Vans across  North America. The purpose-built design of the van is engineered to minimize  total cost of ownership, including fleet management software and driver-centric  features like integrated workflow technology and automated bulkheads.  In addition to the EDV standard pack variant already on the road, in early October  we began delivering new variants that are specifically designed to expand route  coverage into more rural networks, including an AWD configuration as well as a  larger battery pack that offers a 30% increase in range.  Mind Robotics Progress and Key Leadership Addition Late last year, the company established Mind Robotics to address a structural gap  with current industrial automation solutions. Mind Robotics is building universally  capable robots to transform industrial work. Its foundation models and hardware  are being developed with the dexterity and physical reasoning that complex  manufacturing tasks demand. Rivian is a key customer and launch partner, providing  a live, high-volume manufacturing environment for model training and deployment. In October, Mind Robotics announced the appointment of Doug Field as President.  Doug will oversee all aspects of the business, including product, engineering and  operations. As of September 30, 2026, Rivian’s ownership interest was 31.2% on a  shares outstanding basis. ALSO. Begins Deliveries of TM-B eBike Bike lanes, shoulders and curbsides are the areas that make up the hardest part  of the last-mile delivery puzzle. They are also where traditional vehicles  struggle most and where smaller, more adaptable EVs like those being  designed by ALSO. have the greatest opportunity to perform. In the third quarter ALSO. began deliveries of the TM-B ebike to customers.  Additionally, in October ALSO. announced that the TM-B had been selected for  TIME's Best Inventions of 20261, validating their commitment to reshape the  future of transportation. As of September 30, 2026, Rivian’s ownership interest  was 31.2% on a shares outstanding basis. 1 www.time.com/collection/best-inventions/2026/

We remain focused on our key strategic priorities: • Drive towards profitability • Optimize operational efficiency • Technology focus • Demand generation and enhancing the customer experience  Updated 2026 guidance commentary: • Full year delivery guidance is improving from 65,000 - 70,000 units to  67,000 - 70,000 units as a result of the production and delivery outlook for  Q4 2026 • Adjusted EBITDA is improving by $100M at the mid-point due to better than  expected revenue related to regulatory credits, an IEEPA tariff refund  receivable in Q3, and an expected increase in delivery volumes  • Capital Expenditures are decreasing by $300M at the mid-point due to  timing of spend 11 2026 Guidance Vehicles Delivered 67,000 – 70,000 Adjusted EBITDA  $(1.85)B – $(1.75)B Capital Expenditures  $1.40B – $1.50B Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Business Outlook

Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 YoY Production and Deliveries Consolidated Financials ($M) Building for an adventurous future that is fully electric, autonomous and AI-defined Rivian Adventure Network 12Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Delivery Volumes 13,201 9,745 10,365 12,194 19,248 46% Cumulative Delivery Volumes 155,455 165,200 175,565 187,759 207,007 33% Production Volumes 10,720 10,974 10,236 12,613 19,751 84% Revenue $1,558 $1,286 $1,381 $1,658 $2,155 38% Gross Profit $24 $120 $119 $179 $176 $152 Adjusted EBITDA (Non-GAAP)1 $(602) $(465) $(472) $(379) $(435) $167 1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided later in this presentation. 2 Rivian Spaces, Service Centers, Adventure Network Locations and Adventure Network Chargers as of earnings date. 3 Includes marketing events and Electric Joyrides. Summary Financial Performance and Operating Metrics Service & Sales Rivian Spaces2 35 36 39 43 48 37% Rivian Service Centers2 95 97 100 104 108 14% Demo Drives3 30,000+ 24,000+ 36,000+ 57,000+ 103,000+ 243% Rivian Adventure Network Locations2 131 141 145 155 165 26% Rivian Adventure Network Chargers2 850 937 973 1,073 1,185 39%

13 Deliveries Automotive Revenues  Excluding Regulatory Credits Regulatory Credits Q3 2026 vs. Q3 2025 Commentary • Automotive revenues increased 36% year- over-year primarily due to a 46% increase in  vehicle deliveries and an $80 million increase  in revenues related to regulatory credits,  which were partially offset by a decline in  average vehicle selling price due to a higher  mix of R2 and commercial van deliveries • Automotive gross profit loss was $(80) million  compared to $(130) million for the same  quarter in 2025, primarily resulting from  increases in delivery volumes at an improved  per unit margin, an increase in revenues  related to regulatory credits, and an IEEPA  tariff refund receivable, partially offset by  costs related to the ramp of R2 production • In Q3 2026, we recognized approximately  $120 million in incremental cost of revenues  due to the ramp of R2 production as  compared to production at more normalized  levels Revenue Gross Profit Gross Margin Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. $1,142 $839 $908 $1,143 $1,550 $1,141 $810 $850 $1,037 $1,469 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 13,201 9,745 10,365 12,194 19,248 $(130) $(59) $(62) $(36) $(80) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 (11)% (7)% (7)% (3)% (5)% Automotive Segment Performance Strong production, delivery and regulatory credit growth partially offset by R2 ramp costs ($M) ($M)

14 ($M) Q3 2026 vs. Q3 2025 Commentary • Software and services revenues increased 45%   year-over-year primarily due to increases in  vehicle electrical architecture and software  development services from the joint venture  with Volkswagen Group, vehicle repair and  maintenance services, and our Autonomy+  paid software offering which began in April  2026, partially offset by lower remarketing  sales • Software and services gross profit was $256  million compared to $154 million for the same  quarter in 2025, primarily due to increases in  vehicle electrical architecture and software  development services from the joint venture  with Volkswagen Group and our Autonomy+  paid software offering which began in April  2026 Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Robust revenue growth driven by vehicle electrical architecture and software development services from RV Tech1 $416 $447 $473 $515 $605 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 $154 $179 $181 $215 $256 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 37% 40% 38% 42% 42% Revenue Gross Profit Software and Services Segment Performance ($M) Gross Margin 1 We expect to recognize revenue through approximately mid-2028 for RV Tech's performance obligation to further develop, customize, and enhance Rivian’s vehicle electrical architecture technology and software for use in Volkswagen Group’s future vehicle programs. However, our expectations have changed over time and could change in the future, resulting in a different pattern of revenue recognition.

15 Liquidity profile remains strong, with $7.1B of pro-forma available liquidity and $7.35B of liquidity and targeted capital in 2026 Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 1 Based on balances as of September 30, 2026 2 On October 7, 2026, Rivian announced the funding of the $1 billion non-recourse 10-year term loan facility from Volkswagen Group at a 6.03% per annum fixed interest rate. The loan amortizes $50M in 2029, then $100M per annum through year 9.5. The 2032+ column combines the amortization after 2031 and the remaining balance due at final maturity in 2036. 3 As of September 30, 2026 Rivian had availability under the ABL Facility of $593M after giving effect to the borrowing base and outstanding letters of credit 4 Uber Technologies milestone based investment of $250M which we target to receive by the end of 2026 subject to the achievement of certain conditions and autonomy milestones 5 An additional Volkswagen Group equity investment of $460M is targeted at the earlier of the first Volkswagen Group vehicle with RV Tech hardware and software on the road or January 2028 subject to certain conditions 6 Additional investment of up to $700M by Uber Technologies is targeted through 2031 subject to the achievement of certain conditions and autonomous milestones by specific dates, building towards a scaled, fully-autonomous fleet of Rivian R2 robotaxis 7 Maximum targeted Department of Energy loan of $4.5B ($4,006M principal and $494M capitalized interest) which is dependent on meeting certain conditions including the pre-funding of equity and reserve accounts in advance of the loan draw Available Liquidity ($M) Cash, Cash Equivalents and Short-Term Investments1 $5,502 Volkswagen Group Non-Recourse Loan2 1,000 Availability under ABL Facility3 593 Total Pro-Forma Available Liquidity $7,095 Targeted Capital in 2026 Milestone Based Uber Technologies Equity Investment4 $250 Total Available Liquidity and Targeted Capital in 2026 $7,345 Additional Targeted Capital Volkswagen Group Equity Investment5 $460 Milestone Based Uber Technologies Equity Investment6 700 Department of Energy Loan (Principal + Capitalized Interest)7 4,500 Total Available Liquidity and Targeted Future Capital $13,005 Balance Sheet and Liquidity ($ M ) Debt Maturity Schedule $1,500 $1,725 $1,250 $1,500 2026 2027 2028 2029 2030 2031 2032+ $— $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 2029  Convert 2030  Convert ABL Facility  (Undrawn) 1L Notes Non-recourse  JV Loan $750 2

U.S. Department of Energy Loan1 BORROWER Rivian New Horizon, LLC The loan is guaranteed by Rivian  Automotive, Inc. (Sponsor) and its material  domestic subsidiaries (the Guarantors)2 Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 16 LOAN SIZE Up to $4.5B and 80% LTV Includes $0.5B of capitalized Interest  during construction, first draw expected  by early 2027 STRUCTURE Pro Rata Base and contingent equity will be  pre-funded into reserve accounts  before first advance INTEREST RATE U.S. Treasury-Equivalent Rate United States Treasury-equivalent  yield curve with a 0% credit spread,  set at each advance LOAN TERM Up to 15 Years Up to 15 years from the  start of amortization in March 2031 FINANCIAL COVENANTS $2B Minimum Liquidity Sponsor covenants include max 55% debt/ tangible assets, min 1.25x current ratio,  and $2.0B min consolidated liquidity STRATEGIC CAPITAL ROADMAP We partnered with the DOE for an up to $4.5B loan to build out our Georgia facility, providing low cost financing to scale our U.S. manufacturing  and customer base. This funding enables Rivian to establish a stronger leadership position in U.S. technology and job growth. The pro rata draws from the loan and contributed Rivian equity structure require full equity contributions and contingencies to be pre-funded  in reserves before the first advance. This derisks construction and facility ramp-up by ensuring capital is fully secured, while accelerating the  strategic need for capital to fund these reserves. 1 Details and defined terms, including financial covenants, are contained in the Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement 2 Includes the borrowers and guarantors under Rivian’s existing ABL (asset-based lending) credit facility and excludes Rivian and Volkswagen Group Technologies, LLC

17 Financial Statements and Non-GAAP Reconciliations Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved.

18 Quarterly Financial Performance (in millions, except production, delivery, and gross margin) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Three Months Ended September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 Production 10,720 10,974 10,236 12,613 19,751 Delivery 13,201 9,745 10,365 12,194 19,248 Revenues Automotive $  1,142  $  839  $  908  $  1,143  $  1,550  Software and services   416    447    473    515    605  Total revenues $ 1,558 $ 1,286 $ 1,381 $ 1,658 $ 2,155 Cost of revenues Automotive $  1,272  $  898  $  970  $  1,179  $  1,630  Software and services   262    268    292    300    349  Total cost of revenues $ 1,534 $ 1,166 $ 1,262 $ 1,479 $ 1,979 Gross profit $ 24 $ 120 $ 119 $ 179 $ 176 Gross margin 2 % 9 % 9 % 11 % 8 % Research and development $  453  $  424  $  458  $  466  $  485  Selling, general, and administrative   554    529    542    549    572  Total operating expenses $ 1,007 $ 953 $ 1,000 $ 1,015 $ 1,057 Adjusted research and development (non-GAAP)¹ $  361  $  328  $  348  $  347  $  382  Adjusted selling, general, and administrative (non-GAAP)¹   422    384    392    384    417  Total adjusted operating expenses (non-GAAP)¹ $ 783 $ 712 $ 740 $ 731 $ 799 Adjusted EBITDA (non-GAAP)1 $ (602) $ (465) $ (472) $ (379) $ (435) Cash, cash equivalents, and short-term investments $ 7,088 $ 6,082 $ 4,830 $ 5,310 $ 5,502 Net cash provided by (used in) operating activities $  26  $  (681)  $  (703)  $  (487)  $  (758)  Capital expenditures   (447)    (463)    (372)    (362)    (366)  Free cash flow (non-GAAP)1 $ (421) $ (1,144) $ (1,075) $ (849) $ (1,124) Total depreciation and amortization expense $ 198 $ 187 $ 202 $ 227 $ 251 Total stock-based compensation expense $ 175 $ 188 $ 207 $ 226 $ 201 ¹A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided later in this presentation.

19 Condensed Consolidated Balance Sheets (in millions, except per share amounts) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Assets December 31, 2025 September 30, 2026 Current assets: Cash and cash equivalents $  3,579  $  3,509  Short-term investments   2,503    1,993  Accounts receivable, net   555    596  Inventory   1,594    1,779  Other current assets   361    259  Total current assets   8,592    8,136  Property, plant, and equipment, net   5,119    5,605  Operating lease assets, net   571    778  Strategic investments   119    682  Other non-current assets   463    526  Total assets $ 14,864 $ 15,727 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $  595  $  1,038  Accrued liabilities   1,438    1,104  Current portion of deferred revenues, lease liabilities, and other liabilities   1,660    1,598  Total current liabilities   3,693    3,740  Long-term debt   4,440    4,446  Non-current lease liabilities   551    764  Other non-current liabilities   1,586    1,059  Total liabilities 10,270 10,009 Commitments and contingencies Stockholders' equity: Preferred stock, $0.001 par value; 10 shares authorized and 0 shares issued and outstanding as of  December 31, 2025 and September 30, 2026   —    —  Common stock, $0.001 par value; 5,258 and 5,258 shares authorized and 1,240 and 1,460 shares  issued and outstanding as of December 31, 2025 and September 30, 2026, respectively   1    1  Additional paid-in capital   31,508    34,806  Accumulated deficit   (26,951)    (29,113)  Accumulated other comprehensive income (loss)   8    (3)  Noncontrolling interest   28    27  Total stockholders' equity 4,594 5,718 Total liabilities and stockholders' equity $ 14,864 $ 15,727 1 The prior period has been recast to conform to current period presentation. 1

20 Condensed Consolidated Statements of Operations (in millions, except per share amounts) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Automotive $  1,142  $  1,550  $  2,991  $  3,601  Software and services   416    605    1,110    1,593  Total revenues 1,558 2,155 4,101 5,194 Automotive   1,272    1,630    3,364    3,779  Software and services   262    349    713    941  Total cost of revenues 1,534 1,979 4,077 4,720 Gross profit 24 176 24 474 Operating expenses Research and development   453    485    1,244    1,409  Selling, general, and administrative   554    572    1,532    1,663  Total operating expenses 1,007 1,057 2,776 3,072 Loss from operations (983) (881) (2,752) (2,598) Interest income   76    55    229    153  Interest expense   (69)    (74)    (210)    (207)  Other (expense) income, net1   (191)    (8)    (86)    488  Loss before income taxes (1,167) (908) (2,819) (2,164) Provision for income taxes   1    1    (3)    4  Net loss (1,166) (907) (2,822) (2,160) Less: Net income attributable to noncontrolling interest   7    6    13    2  Net loss attributable to common stockholders $ (1,173) $ (913) $ (2,835) $ (2,162) Net loss attributable to common stockholders, basic and diluted $ (1,173) $ (913) $ (2,835) $ (2,162) Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.96) $ (0.63) $ (2.42) $ (1.61) Weighted-average common shares outstanding, basic and diluted 1,220 1,446 1,171 1,341 1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" related to the Series A capital raise and related deconsolidation of Mind Robotics.

Nine Months Ended September 30, 2025 2026 Cash flows from operating activities: Net loss $  (2,822)  $  (2,160)  Depreciation and amortization   583    682  Stock-based compensation expense   551    634  Gain on strategic investments   (101)    (506)  Other non-cash activities   (6)    89  Changes in operating assets and liabilities: Accounts receivable, net   267    (44)  Inventory   511    (372)  Other assets   (26)    144  Accounts payable and accrued liabilities   488    268  Deferred revenues 495 (637) Other liabilities (38) (46) Net cash used in operating activities (98) (1,948) Cash flows from investing activities: Purchases of short-term investments and shares for deferred compensation   (2,571)    (2,045)  Sales of short-term investments and shares for deferred compensation   107    32  Maturities of short-term investments   2,204    2,463  Deconsolidation of Mind Robotics, Inc.   —    (114)  Capital expenditures   (1,247)    (1,100)  Net cash used in investing activities (1,507) (764) Cash flows from financing activities: Proceeds from stock-based compensation programs   34    40  Proceeds from issuance of capital stock   750    2,617  Proceeds from issuance of long-term debt   1,250    —  Repayments of long-term debt   (1,250)    —  Other financing activities   (37)    (11)  Net cash provided by financing activities 747 2,646 Effect of exchange rate changes on cash and cash equivalents   5    (4)  Net change in cash   (853)    (70)  Cash and cash equivalents, and restricted cash - Beginning of period   5,294    3,579  Cash and cash equivalents, and restricted cash - End of period $ 4,441 $ 3,509 Supplemental disclosure of non-cash investing and financing activities: Capital expenditures included in liabilities $ 499 $ 386 Capital stock issued to settle bonuses $ 47 $ 110 Right-of-use assets obtained in exchange for operating lease liabilities $ 224 $ 302 1 The prior period has been recast to conform to current period presentation. 21 Condensed Consolidated Statements of Cash Flows (in millions) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 1

22 Depreciation and Amortization & Stock-Based Compensation Expense (in millions) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Three Months Ended September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 Depreciation and amortization expense Cost of revenues $  125  $  108  $  122  $  138  $  166  Research and development   18    20    23    25    24  Selling, general, and administrative   55    59    57    64    61  Total depreciation and amortization expense $ 198 $ 187 $ 202 $ 227 $ 251 Stock-based compensation expense Cost of revenues $  24  $  26  $  27  $  31  $  28  Research and development   74    76    87    94    79  Selling, general, and administrative   77    86    93    101    94  Total stock-based compensation expense $ 175 $ 188 $ 207 $ 226 $ 201

23 Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Adjusted Research and Development Expenses Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Total research and development expenses  $  453  $  485  $  1,244  $  1,409  R&D depreciation and amortization expenses   (18)    (24)    (52)    (72)  R&D stock-based compensation expenses   (74)    (79)    (230)    (260)  Adjusted research and development (non-GAAP) $ 361 $ 382 $ 962 $ 1,077 Adjusted Selling, General, and Administrative Expenses Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Total selling, general, and administrative expenses  $  554  $  572  $  1,532  $  1,663  SG&A depreciation and amortization expenses   (55)    (61)    (162)    (182)  SG&A stock-based compensation expenses   (77)    (94)    (238)    (288)  Adjusted selling, general, and administrative (non-GAAP) $ 422 $ 417 $ 1,132 $ 1,193 Adjusted Operating Expenses Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Total operating expenses  $  1,007  $  1,057  $  2,776  $  3,072  R&D depreciation and amortization expenses   (18)    (24)    (52)    (72)  R&D stock-based compensation expenses   (74)    (79)    (230)    (260)  SG&A depreciation and amortization expenses   (55)    (61)    (162)    (182)  SG&A stock-based compensation expenses   (77)    (94)    (238)    (288)  Total adjusted operating expenses (non-GAAP) $ 783 $ 799 $ 2,094 $ 2,270

24 Reconciliation of Non-GAAP Financial Measures Continued (in millions, except per share amounts) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Net loss attributable to common stockholders $  (1,173)  $  (913)  $  (2,835)  $  (2,162)  Interest (income) expense, net   (7)    19    (19)    54  Provision for income taxes   (1)    (1)    3    (4)  Depreciation and amortization   198    251    599    680  Stock-based compensation expense   175    201    553    634  Other expense (income), net1   191    8    86    (488)  Restructuring expenses   15    —    15    —  Adjusted EBITDA (non-GAAP) $ (602) $ (435) $ (1,598) $ (1,286) Adjusted Net Loss Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Net loss attributable to common stockholders, basic and diluted $  (1,173)  $  (913)  $  (2,835)  $  (2,162)  Stock-based compensation expense   175    201    553    634  Other expense (income), net1   191    8    86    (488)  Restructuring expenses   15    —    15    —  Adjusted net loss attributable to common stockholders, basic and diluted (non-GAAP) $ (792) $ (704) $ (2,181) $ (2,016) Adjusted Net Loss Per Share Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Net loss per share attributable to common stockholders, basic and diluted $  (0.96)  $  (0.63)  $  (2.42)  $  (1.61)  Stock-based compensation expense per share   0.14    0.14    0.47    0.47  Other expense (income), net per share1   0.16    0.01    0.07    (0.36)  Restructuring expenses per share   0.01    —    0.01    —  Adjusted net loss per share attributable to common stockholders, basic and diluted (non-GAAP) $ (0.65) $ (0.48) * $ (1.87) * $ (1.50) Weighted-average common shares outstanding, basic and diluted (GAAP) 1,220 1,446 1,171 1,341 * Does not calculate due to rounding. 1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" on the Condensed Consolidated Statements of Operations related to the Series A capital raise and related deconsolidation of Mind Robotics.

25 Reconciliation of Non-GAAP Financial Measures Continued (in millions) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Free Cash Flow Three Months Ended September 30, Nine Months Ended September 30, 2025 2026 2025 2026 Net cash provided by (used in) operating activities $  26  $  (758)  $  (98)  $  (1,948)  Capital expenditures   (447)    (366)    (1,247)    (1,100)  Free cash flow (non-GAAP) $ (421) $ (1,124) $ (1,345) $ (3,048)

Three Months Ended September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 Adjusted Research and Development Expenses Total research and development expenses $  453  $  424  $  458  $  466  $  485  R&D depreciation and amortization expenses   (18)    (20)    (23)    (25)    (24)  R&D stock-based compensation expenses   (74)    (76)    (87)    (94)    (79)  Adjusted research and development (non-GAAP) $ 361 $ 328 $ 348 $ 347 $ 382 Adjusted Selling, General, and Administrative Expenses Total selling, general, and administrative expenses $  554  $  529  $  542  $  549  $  572  SG&A depreciation and amortization expenses   (55)    (59)    (57)    (64)    (61)  SG&A stock-based compensation expenses   (77)    (86)    (93)    (101)    (94)  Adjusted selling, general, and administrative (non-GAAP) $ 422 $ 384 $ 392 $ 384 $ 417 Adjusted Operating Expenses Total operating expenses $  1,007  $  953  $  1,000  $  1,015  $  1,057  R&D depreciation and amortization expenses   (18)    (20)    (23)    (25)    (24)  R&D stock-based compensation expenses   (74)    (76)    (87)    (94)    (79)  SG&A depreciation and amortization expenses   (55)    (59)    (57)    (64)    (61)  SG&A stock-based compensation expenses   (77)    (86)    (93)    (101)    (94)  Total adjusted operating expenses (non-GAAP) $ 783 $ 712 $ 740 $ 731 $ 799 Adjusted EBITDA Net loss attributable to common stockholders $  (1,173)  $  (811)  $  (416)  $  (833)  $  (913)  Interest (income) expense, net   (7)    —    15    20    19  Provision for income taxes   (1)    3    (2)    (1)    (1)  Depreciation and amortization   198    187    202    227    251  Stock-based compensation expense   175    188    207    226    201  Other expense (income), net¹   191    (32)    (478)    (18)    8  Restructuring expenses   15    —    —    —    —  Adjusted EBITDA (non-GAAP) $ (602) $ (465) $ (472) $ (379) $ (435) 1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" on the Condensed Consolidated Statements of Operations related to the Series A capital raise and related deconsolidation of Mind Robotics. 26 Reconciliation of Non-GAAP Financial Measures Continued (in millions) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved.

27 Reconciliation of Non-GAAP Financial Measures Continued (in millions, except per share amounts) (unaudited) Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Three Months Ended September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 Adjusted Net Loss Net loss attributable to common stockholders, basic and diluted $  (1,173)  $  (811)  $  (416)  $  (833)  $  (913)  Stock-based compensation expense   175    188    207    226    201  Other expense (income), net¹   191    (32)    (478)    (18)    8  Restructuring expenses   15    —    —    —    —  Adjusted net loss attributable to common stockholders, basic and diluted (non-GAAP) $ (792) $ (655) $ (687) $ (625) $ (704) Adjusted Net Loss Per Share Net loss per share attributable to common stockholders, basic and diluted $  (0.96)  $  (0.66)  $  (0.33)  $  (0.63)  $  (0.63)  Stock-based compensation expense per share   0.14    0.15    0.17    0.17    0.14  Other expense (income), net per share¹   0.16    (0.03)    (0.38)    (0.01)    0.01  Restructuring expenses per share   0.01    —    —    —    —  Adjusted net loss per share attributable to common stockholders, basic and diluted (non-GAAP) $ (0.65) $ (0.54) * $ (0.54) * $ (0.47) $ (0.48) * Weighted-average common shares outstanding, basic and diluted (GAAP) 1,220 1,233 1,249 1,325 1,446 * Does not calculate due to rounding. Free Cash Flow Net cash provided by (used in) operating activities $  26  $  (681)  $  (703)  $  (487)  $  (758)  Capital expenditures   (447)    (463)    (372)    (362)    (366)  Free cash flow (non-GAAP) $ (421) $ (1,144) $ (1,075) $ (849) $ (1,124) 1 During the nine months ended September 30, 2026, we recognized a $506 million gain in "Other (expense) income, net" on the Condensed Consolidated Statements of Operations related to the Series A capital raise and related deconsolidation of Mind Robotics.

28 Non-GAAP Financial Measure Definitions Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. Our non-GAAP financial measures include adjusted research and development expenses, adjusted selling, general, and administrative  expenses, total adjusted operating expenses, adjusted EBITDA, adjusted net loss, adjusted net loss per share, and free cash flow. Adjusted research and development expenses is defined as total research and development expenses, less R&D depreciation  and amortization expenses and R&D stock-based compensation expenses. Adjusted selling, general, and administrative expenses is defined as total selling, general, and administrative expenses,  less SG&A depreciation and amortization expenses and SG&A stock-based compensation expenses. Adjusted operating expenses is defined as total operating expenses, less R&D depreciation and amortization expenses, R&D stock-based  compensation expenses, SG&A depreciation and amortization expenses, and SG&A stock-based compensation expenses. Adjusted EBITDA is defined as net loss before interest expense (income), net, provision for income taxes, depreciation and amortization,  stock-based compensation, other expense (income), net, and special items. Our management team ordinarily excludes special items from  its review of the results of the ongoing operations. Special items is comprised of (i) cost of revenue efficiency initiatives which include costs  incurred as we transition between major vehicle programs, cost incurred for negotiations with major suppliers regarding changing demand  forecasts or design modifications, and other costs for enhancing capital and cost optimization of the Company (ii) restructuring expenses  for significant actions taken by the Company, (iii) significant asset impairments and write-offs, and (iv) other items that we do not necessarily  consider to be indicative of earnings from ongoing operating activities, including fair value gain or loss on convertible note, net, and joint  venture formation expenses. Adjusted net loss is defined as net loss before stock-based compensation expense, other (expense) income, and special items.  Our management team ordinarily excludes special items from its review of the results of the ongoing operations. Special items is comprised  of (i) cost of revenue efficiency initiatives which include costs incurred as we transition between major vehicle programs, cost incurred for  negotiations with major suppliers regarding changing demand forecasts or design modifications, and other costs for enhancing capital and  cost optimization of the Company (ii) restructuring expenses for significant actions taken by the Company, (iii) significant asset impairments  and write-offs, and (iv) other items that we do not necessarily consider to be indicative of earnings from ongoing operating activities,  including fair value gain or loss on convertible note, net, and joint venture formation expenses. Adjusted net loss per share is defined as adjusted net loss divided by the weighted-average common shares outstanding. Free cash flow is defined as net cash used in operating activities less capital expenditures.

Q3 2026 Earnings Presentation © 2026 Rivian. All rights reserved. 29

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