132 Autonomous Platform Providers Could Create ~$28 Trillion In Enterprise Value In 2030 At 15x EBIT in 2030, autonomous platform providers could scale to $28 trillion in enterprise value, or ~9x that of all auto manufactures in 2023. Revenue, Earnings, And Enterprise Value Revenue, Earnings And Enterprise Value 2023 Actual Auto Manufacturers 2030 ARK Estimates Autonomous Electric Fleet Owners Autonomous Platform Providers IS Auto Manufacturers X $14,000 A T O $12,000 $30,000 28,100 B RO $10,000 $25,000 ns io $8,000 $20,000 l ns il B io $6,000 l $ il $15,000 B $ $4,000 $2,750 $3,100 $10,000 $2,000 $5,000 3,200 3,800 2,200 $200 900 100 4001,900 1,400 $- $0 Revenue EBIT Enterprise Value Revenue (Net) EBIT Enterprise Value Numbers are rounded. EBIT = Earnings Before Interest and Taxes. Autonomous Platform Operators = Autonomous Ride-hail Companies, such as Waymo or Tesla. The chart on the left includes all publicly listed automakers with available CAPIQ data on Enterprise Value, Revenue, and Operating Income. Sources: ARK Investment Management LLC, 2024. This ARK analysis is based on a range of underlying data from external sources, which may be provided upon request. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.