July 19, 2021

McLaren Group Limited (“MGL”) announces today that its subsidiary, McLaren Finance plc (the "Issuer"), is launching an offering of $620 million aggregate principal amount of senior secured notes due 2026 (the "Notes"), which, if completed, together with the net proceeds contributed to the As Adjusted Automotive Group (as defined below) from the separately announced £550 million equity investment, will be used to redeem in full the Issuer's outstanding existing senior secured notes, repay the existing revolving credit facility, add cash to the balance sheet and pay fees, premiums and expenses incurred in connection with the foregoing transactions, including the offering of the Notes. McLaren Holdings Limited ("MHL"), the immediate parent company of the Issuer, also intends to enter into a new revolving credit facility agreement providing for a revolving credit facility with initial commitments of £95 million (equivalent) with an accordion up to £110 million (equivalent).

Current Trading of the As Adjusted Automotive Group

On a preliminary basis, for the five months ended May 31, 2021, MHL and its subsidiaries, including the Issuer (the "As Adjusted Automotive Group"), estimates its turnover will be in the range of £295 million to £305 million, as compared to approximately £140 million for the five months ended May 31, 2020.

The As Adjusted Automotive Group estimates its EBITDA will be in the range of £87 million to £92 million1 for the five months ended May 31, 2021, as compared to approximately negative £82 million for the five months ended May 31, 2020. The As Adjusted Automotive Group's cash balance as of May 31, 2021 was approximately £177 million, as compared to approximately £43 million as of May 31, 2020. Wholesale vehicle volumes for the five months ended May 31, 2021 were 924, compared to 477 for the five months ended May 31, 2020, and the order book was 1,197 as of May 31, 2021.

Cautionary statement

The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons outside the United States pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), subject to prevailing market and other conditions. There is no assurance that the offering will be completed or, if completed, as to the terms on which it is completed. The Notes to be offered have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold, directly or indirectly, in the United States or to or for the account or benefit of U.S. persons, as such term is defined in Regulation S of the Securities Act, absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. The offering of the Notes is being made by means of an offering memorandum. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Promotion of the Notes in the United Kingdom is restricted by the Financial Services and Markets Act 2000 (the “FSMA”), and accordingly, the Notes are not being promoted to the general public in the United Kingdom. This announcement is only addressed to and directed at persons who (i) are outside the United Kingdom, (ii) have professional experience in matters relating to investments (being investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”)), (iii) fall within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations, etc.”) of the Financial Promotion Order, or (iv) to the extent that doing so does not prejudice the lawful distribution of the announcement to the foregoing, are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) in connection with the issue or sale of the Notes may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). The Notes will only be available to relevant persons and this announcement must not be acted on or relied on by anyone who is not a relevant person.

Manufacturer target market (MIFID II product governance; UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA or the United Kingdom, respectively.

Forward-looking statements

This announcement contains certain forward-looking statements, which are based on current intentions, beliefs, assumptions and estimates by the management of MGL concerning, among other things, results of operations, financial condition, liquidity, prospects, growth, strategies of MGL and its subsidiaries (the “Group”) and the industries in which the Group operates. By their nature, forward- looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and that the Group's actual results of operations, financial condition and liquidity, and the development of the industries in which it operates, may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. In addition, even if the Group's or its affiliates' results of operations, financial condition and liquidity, and the development of the industries in which they operate, are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. MGL undertakes no obligation to update these forward-looking statements and will not publicly release any revisions that may be made to these forward-looking statements, which may result from events or circumstances arising after the date of this announcement.

1 Includes approximately £67 million in profit from the sale and leaseback of the McLaren headquarters.

Contact

McLaren Group Limited

McLaren Technology Centre

Chertsey Road, Woking, Surrey, GU21 4YH [email protected]

For media queries: Daniel Golding

Global Head of Corporate Communications [email protected]