Legal Counsel

Stellantis, Wayve, and Uber partner to scale robotaxis globally. * Stellantis, Wayve, and Uber are collaborating to develop and deploy L4 driverless mobility services * By combining Stellantis' world-class vehicle L4-Ready Platforms(TM), Wayve's advanced AI Driver, and Uber's leading mobility network, the companies seek to accelerate the global rollout of robotaxi services * This strategic relationship builds on the companies' existing collaborations together and reinforces a growing industry consensus that the most efficient way to scale autonomous mobility is through a powerful ecosystem AMSTERDAM, LONDON and SAN FRANCISCO - Stellantis, Wayve, and Uber today announced they have entered a partnership to jointly explore the development and deployment of Level 4 (driverless) robotaxis at a global scale. The collaboration brings together Stellantis' L4- Ready Platforms(TM), Wayve's AI driving technology, and Uber's global marketplace to power a new generation of fully autonomous vehicles. It also builds on the companies' existing strategic relationships, including Stellantis and Wayve's recent L2++ agreement, and Wayve and Uber's partnership to deploy autonomous rides in London, Tokyo, and ten other cities around the world starting this year. Partnering to Accelerate Scale The new initiative intends to combine the three complementary strengths needed to commercialize autonomy: vehicles, technology, and platform. * Vehicles & Integration: Stellantis will design, engineer and manufacture at scale vehicles built on advanced L4-Ready Platforms(TM) that have embedded sensor suites and are engineered with the operational requirements, the safety and redundancy required for high-utilization driverless operations. * AI Technology: Wayve will provide the AI driving software that enables the vehicles to understand and navigate complex real-world environments fully autonomously. Built with Wayve's end-to-end AI driving approach, the technology is designed to adapt across different regions and driving conditions without relying on city-by-city mapping or re-engineering, enabling faster and more cost-effective expansion. * Mobility Platform: Uber will deploy these autonomous vehicles on its global mobility network, connecting riders to autonomous trips through the Uber app and helping scale operations across markets. For customers, this brings the benefits of autonomous driving technology to the vehicles and marketplace they already know and trust. "This collaboration brings us closer to delivering a smarter, safer and more efficient mobility for our customers," said Ned Curic, Chief Engineering and Technology Officer at Stellantis. "By combining our L4-Ready Platforms(TM), designed from the ground up for safe and efficient driverless operation, with Wayve's adaptive AI and Uber's global network, we are accelerating the deployment of autonomous vehicles that meet real customer needs and enable seamless mobility at scale in everyday life." "This partnership brings together three leaders, each with our own strengths: Stellantis' vehicle expertise, Uber's global mobility platform and Wayve's embodied AI," said Kaity Fischer, Wayve's VP of Commercial & Operations. "This is just another strong signal that the industry is converging around Wayve's technology as the way to scale AVs globally, and we're excited to continue working with Stellantis and Uber to accelerate the promise of autonomy." "Successfully scaling autonomous mobility means bringing together the right vehicles, technology, and platform in a seamless way," said Sarfraz Maredia, Global Head of Autonomous Mobility & Delivery at Uber. "Together with Stellantis and Wayve, we're excited to bring safe, reliable autonomy to more riders around the world." Bringing Autonomous Mobility to More Riders As part of this collaboration, the companies plan to work together on vehicle integration, testing, validation, and deployment with the goal of bringing safe, reliable and scalable autonomous mobility services to cities across Europe, North America and beyond. The strategic relationship represents a significant step toward commercial robotaxi services at scale and reinforces the ecosystem approach needed to democratize AV technology and bring it to millions of vehicles and riders around the world. About the Collaboration The non-binding Memorandum of Understanding (MoU) establishes the framework for future agreements covering technology development, licensing, production, and vehicle procurement. Each company retains the flexibility to pursue additional collaborations in the autonomous driving space. About Stellantis Stellantis is a leading global automaker, dedicated to giving its customers the freedom to choose the way they move, embracing the latest technologies and creating value for all its stakeholders. Its unique portfolio of iconic and innovative brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep(R), Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. For more information, visit www.stellantis.com. About Wayve Founded in 2017, Wayve is the leading developer of Embodied AI technology for automated driving. Its advanced AI software and foundation models for autonomy enable vehicles to perceive, understand, and navigate any environment, enhancing the usability and safety of autonomous driving systems. Wayve develops mapless and hardware-agnostic Embodied AI products for automakers and fleet owners, accelerating the path from assisted to automated driving. To learn more, please visit www.wayve.ai. About Uber Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 75 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Nest plans to allocate up to £1bn to venture capital by 2030. By Callum Conway Nest has launched a £200m dedicated venture capital (VC) sleeve with Schroders Capital, and plans to invest up to £1bn in VC by 2030, as it looks to increase its exposure to late-stage, high-growth private companies. The pension scheme said the allocation, made on behalf of its 14 million members, will incorporate existing venture investments and provide fresh capital for new late-stage VC opportunities. Nest noted the allocation could rise to around £1bn by 2030, subject to the availability of high-quality investment opportunities, with a strong focus on UK-based unlisted companies. The new sleeve will be tailored and managed by Schroders Capital, building on Nest's existing private markets strategy and its investments in growth-stage companies since 2022. Examples of UK companies Schroders Capital has already invested in on behalf of Nest, which will sit within the new VC portfolio, include autonomous driving AI software company Wayve and AI video creation firm Synthesia. Nest said the new VC sleeve supports its wider ambition to grow private markets exposure to up to 30 per cent by 2030, and forms part of its broader aim to enhance long-term returns through greater diversification, while also supporting UK innovation. Nest Invest chief executive officer, Mark Fawcett OBE, said: "As Nest has grown, we have continued to evolve our investment approach, opening up new investment opportunities for our members. "We are delighted to expand this approach further into venture capital, providing injections of cash that growing businesses need to scale. "As a large, long-term investor, Nest is well positioned to support ambitious private companies. Our members save with us over decades, which allows us to invest patiently and back innovation through different stages of growth." Fawcett added that Nest was "particularly drawn" to opportunities in the UK business sector, where support for innovation could drive job creation and economic growth. "Over the coming years, we will build a more meaningful allocation to late-stage venture capital, giving our 14 million members access to the long-term growth potential that innovative, high-growth companies can offer," he continued. "To this end, we are delighted to deepen our partnership with Schroders Capital. Their capabilities across venture and growth investing, combined with their experience investing across the full business lifecycle, make them a strong partner for this strategy. "We also expect a significant proportion of these investments to be in UK-based companies, something our members tell us they want." Meanwhile, Schroders Capital head of private equity investments, Tim Creed, said the partnership created a "strong platform" to identify and support high-quality growth companies. "The UK is already Europe's largest venture hub, and the world's third largest," he continued. "It is one of the most efficient venture ecosystems globally, growing unicorns at pace - however, domestic capital has not historically participated at the same rate. "As a global innovation leader, the UK has a significant and largely untapped opportunity to bring this growth to pension portfolios." Pensions Minister, Torsten Bell, commented: "Britain creates some of the best, most innovative new companies in the world. "By channelling pension savings into high-growth UK companies, Nest is backing the entrepreneurs and innovators driving jobs and growth across the country, while delivering better long-term returns for its 14 million members." Similarly, UK Private Capital chief executive, Michael Moore, welcomed the announcement, describing it as a "significant and welcome milestone" for the UK VC market. "It demonstrates growing confidence that backing innovative, high-growth businesses can deliver attractive long-term returns for pension savers while supporting the UK's future economic growth," he said. "Commitments of this scale send an important signal to the market that there is a compelling investment case for UK innovation, and we hope it encourages other pension schemes to accelerate their own plans to invest in private capital."