Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

🟢 New in Current Filing Severity8/10Det 8

Growth of our business is also dependent upon our ability to develop and commercialize Bots, including Optimus, which is in a nascent industry that has yet to develop commercially.

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15 15 15 Table of Contents Table of Contents We currently are developing Bots, including Optimus, and intend for these products, as well as accompanying services, to be an important part of our business going forward. While this development requires significant cash investments and management resources, there is no guarantee this business will be successful. We have yet to commercialize Bots and cannot predict how demand for Bots will develop, either from commercial or consumer applications. We also face significant competition from other companies that are designing, developing and building robotics applications. Our success will depend on various factors, including our ability to successfully apply our artificial neural network training experience to autonomous robots, to either source or custom develop the necessary technology and components, and the product’s cost-effectiveness, utility and competitive positioning relative to market alternatives. If our Bots program fails to develop as we expect, or progresses more slowly than expected, our business, prospects, financial condition and operating results may be harmed.

🟢 New in Current Filing There is a risk that the technologies and initiatives associated with the 2025 CEO Performance Award, including the product goals, are misaligned with current or future consumer demand, resulting in our failure to invest in or pursue another opportunity that generates significant financial returns or leads to greater shareholder value. 🔒

🟡 Modified We face risks associated with maintaining and expanding our international operations, including unfavorable and uncertain regulatory, political, economic, tax and labor conditions. 🔒

🟡 Modified Our future growth and success are dependent upon demand for our electric vehicles and adoption of autonomous driving solutions. 🔒

🔴 No Match in Current Filing Increased scrutiny and changing expectations from stakeholders with respect to the Company’s ESG practices may result in additional costs or risks. 🔒

🟡 Modified Demand for our products and services may be impacted by the status of government and economic incentives supporting the development and adoption of such products. 🔒

🔴 No Match in Current Filing We must manage ongoing obligations under our agreement with the Research Foundation for the State University of New York relating to our Gigafactory New York. 🔒

🟡 Modified We are subject to evolving laws and regulations that could impose substantial costs, legal prohibitions or unfavorable changes upon our operations or products. 🔒

🟡 Modified Our operations could be adversely affected by events outside of our control, such as natural disasters, wars or health epidemics. 🔒

🟡 Modified We may experience issues or delays in developing, launching and ramping the production of our products, services and features, or we may be unable to control our manufacturing costs. 🔒

🟡 Modified We may be required to defend or insure against product liability claims. 🔒

🟡 Modified If Elon Musk were forced to sell shares of our common stock, either that he has the ability to pledge to secure certain personal loan obligations, or in satisfaction of other obligations, such sales could cause our stock price to decline. 🔒

🟡 Modified We may be negatively impacted by any early obsolescence of our manufacturing and other equipment. 🔒

12 more changes in this filing

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