Joe

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Q2 Shareholder Update → ir.tesla.com Highlights – Cybercab began production at Gigafactory Texas – Tesla Semi remains on track for volume production this year at our new factory in Nevada – Making continued progress with battery pack capacity expansion (the main limiting factor to near-term vehicle production volume increase) – Megafactory Texas is nearing completion (start of production planned for this year) – More customers are now opting to subscribe to FSD at the time of vehicle purchase! – Robotaxi rollout continued in the US. Now live in 7 major metros – Construction of Optimus at Fremont Factory began after decommissioning the Model S & X lines. Planned production later this year From here, there remains much hard work as we aim to revolutionize transportation, energy and productivity through our leading real-world AI. Scaling will be non-linear and we are focused on long-term value creation. We’ve never been more optimistic about the future. Automotive – Record deliveries in several markets: South Korea, Australia, Colombia, Japan, Taiwan, Thailand, Portugal, the Philippines, Chile, Slovenia & Lithuania – We launched the Model YL in the US in July and have seen a positive response from customers Energy generation and storage – Record energy storage deployments in EMEA, supported by record deployments from Megafactory Shanghai, which continues to ramp production – On track to begin production of Megapack 3 & Megablock this year at our new Megafactory Texas – Powerwall 3P (three-phase) is now available in Germany and is designed to meet the power needs of German homes with a single unit Robotics – Installing the first-generation lines for Optimus at Fremont Factory, where we expect to start production soon – The initial Optimus builds will be used in our Optimus Academy for training data collection and further functionality development – Additionally, we continued site development at Gigafactory Texas with building construction now in full swing AI Training Compute – More than doubled our onsite compute in Texas (in terms of MW of compute) during the first half of 2026 – Cortex 2 supports the development of both vehicle and humanoid robot autonomy software & will ramp further over the rest of the year Battery – Ramping new battery & material factories, including vehicle pack capacity in Berlin, cathode material production and lithium refining in Texas and LFP cells in Nevada for our energy storage products – Increasing production of 4680 cells to support ramping Cybercab & Tesla Semi plus increased production of Model Y Other Supporting Infrastructure – Added over 2,400 net new Supercharging stalls, growing the network by 17% year-over-year AI Software – Started rolling out FSD v14 lite to early-access customers in the US & South Korea with AI3 hardware This software build distills the driving behavior from AI4’s v14 series into both the camera & compute configuration of AI3, bringing destination options & speed profiles. It also addresses challenging driving scenarios with improved proactive & reactive responsiveness AI Inference Compute – Making progress on construction & equipment procurement for our semiconductor fab in Austin Automotive and Other Software – Rolled out Summer Release: Self-Driving stats are now available in the mobile app Grok can make phone calls, search & play music, and adjust climate controls, among other things Automatic Navigation expands beyond home & work to support any destination based on personal habits and schedule Robotaxi – Started production of Cybercab, our purpose-built autonomous EV designed to be the workhorse of our Robotaxi fleet – Began offering employee rides in Cybercabs on our GFTX campus in July – Preparing for expansion of our Robotaxi service to additional US metros: testing, permitting & first responder training – Expanded unsupervised rides to the entire Austin metro area & launched unsupervised rides in Miami, Orlando & Tampa in July FSD Supervised – Record net new subscriptions in Q2 – Record FSD attach rates in North America, with over half of new deliveries including FSD subscriptions – Received additional approvals in Lithuania, Estonia, Denmark & Belgium, with customers in these countries driving over 50 million kilometers (31 million miles) on FSD as of July