Q2 2023 Update Exhibit 99.1

Highlights 03Financial Summary 04Operational Summary 06Vehicle Capacity            07Core Technology                   08Other Highlights 09Outlook 10Photos & Charts                                                                     11Key Metrics                                                                           17Financial Statements 20Additional Information 26

S U M M A R Y H I G H L I G H T S (1) Excludes SBC (stock-based compensation) (2) Free cash flow = operating cash flow less capex (3) Includes cash, cash equivalents and investments (4) RC builds = release candidate builds Profitability 9.6% operating margin $2.4B GAAP operating income $2.7B GAAP net income $3.1B non-GAAP net income1 Q2-2023 was a record quarter on many levels with our best-ever production and deliveries and revenue approaching $25B in a single quarter. We are excited that we were able to achieve such results given the macroeconomic environment we are currently in. Our operating margin remained healthy at approximately 10%, even with price reductions in Q1 and early Q2. This reflects our ongoing cost reduction efforts, the continued production ramp success in Berlin and Texas and the strong performance of our Energy and Services & Other businesses. Our commitment to being at the forefront of AI development entered a new chapter with the start of production of Dojo training computers. We are hopeful that our immense neural net training needs will be satisfied using our in-house designed Dojo hardware. The better the neural net training capacity, the greater the opportunity for our Autopilot team to iterate on new solutions. In conclusion, we are focusing on cost reduction, new product development that will enable future growth, investments in R&D, better vehicle financing options, continuous product improvement and generation of free cash flow. The challenges of these uncertain times are not over, but we believe we have the right ingredients for the long-term success of the business through a variety of high potential projects. Cash Operating cash flow of $3.1B Free cash flow2 of $1.0B $0.7B increase in our cash and investments3 QoQ to $23.1B Operations Cybertruck factory tooling on track; producing RC4 builds Model Y became the best-selling vehicle globally in Q1

F I N A N C I A L  S U M M A R Y (Unaudited) ($ in millions, except percentages and per share data) Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 YoY Total automotive revenues 14,602 18,692 21,307 19,963 21,268 46% Energy generation and storage revenue 866 1,117 1,310 1,529 1,509 74% Services and other revenue 1,466 1,645 1,701 1,837 2,150 47%         Total revenues 16,934 21,454 24,318 23,329 24,927 47% Total gross profit 4,234 5,382 5,777 4,511 4,533 7% Total GAAP gross margin 25.0% 25.1% 23.8% 19.3% 18.2% -682 bp             Operating expenses 1,770 1,694 1,876 1,847 2,134 21% Income from operations 2,464 3,688 3,901 2,664 2,399 -3% Operating margin 14.6% 17.2% 16.0% 11.4% 9.6% -493 bp             Adjusted EBITDA 3,791 4,968 5,404 4,267 4,653 23% Adjusted EBITDA margin 22.4% 23.2% 22.2% 18.3% 18.7% -372 bp             Net income attributable to common stockholders (GAAP) 2,259 3,292 3,687 2,513 2,703 20% Net income attributable to common stockholders (non-GAAP) 2,620 3,654 4,106 2,931 3,148 20%             EPS attributable to common stockholders, diluted (GAAP)(1) 0.65 0.95 1.07 0.73 0.78 20% EPS attributable to common stockholders, diluted (non-GAAP)(1) 0.76 1.05 1.19 0.85 0.91 20%             Net cash provided by operating activities 2,351 5,100 3,278 2,513 3,065 30% Capital expenditures (1,730) (1,803) (1,858) (2,072) (2,060) 19% Free cash flow 621 3,297 1,420 441 1,005 62% Cash, cash equivalents and investments 18,915 21,107 22,185 22,402 23,075 22% (1)EPS = earnings per share. Prior period results have been retroactively adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in August 2022.

F I N A N C I A L   S U M M A R Y Revenue Total revenue grew 47% YoY in Q2 to $24.9B. YoY, revenue was impacted by the following items:  + growth in vehicle deliveries + growth in other parts of the business - reduced ASP YoY (excluding FX impact) - negative FX impact of $0.6B1 Profitability Our operating income decreased slightly YoY to $2.4B in Q2, resulting in a 9.6% operating margin. YoY, operating income was primarily impacted by the following items:  - reduced ASP due to mix and pricing - cost of production ramp of 4680 cells and other related charges - increase in Operating expenses driven by Cybertruck, AI and other large projects - negative FX impact + growth in vehicle deliveries (despite margin headwind from underutilization of new factories) + lower cost per vehicle, which includes lower raw material costs and IRA credit + gross profit growth in Energy business as well as Services & Other Other income (below operating income line) was positively impacted by FX movements on certain intercompany balances. Cash Quarter-end cash, cash equivalents and investments increased sequentially by $0.7B to $23.1B in Q2, driven mainly by free cash flow of $1.0B, partially offset by other financing activities, including debt repayments.  (1) Impact is calculated on a constant currency basis. Actuals are compared against current results converted into USD using average exchange rates from Q2’22.

Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 YoY Model S/X production 16,411 19,935 20,613 19,437 19,489 19% Model 3/Y production 242,169 345,988 419,088 421,371 460,211 90% Total production 258,580 365,923 439,701 440,808 479,700 86%       Model S/X deliveries 16,162 18,672 17,147 10,695 19,225 19% Model 3/Y deliveries 238,533 325,158 388,131 412,180 446,915 87% Total deliveries 254,695 343,830 405,278 422,875 466,140 83%    of which subject to operating lease accounting 9,227 11,004 15,184 22,357 21,883 137%       Total end of quarter operating lease vehicle count 131,756 135,054 140,667 153,988 168,058 28% Global vehicle inventory (days of supply)(1) 4 8 13 15 16 300%       Solar deployed (MW) 106 94 100 67 66 -38% Storage deployed (MWh) 1,133 2,100 2,462 3,889 3,653 222%       Tesla locations(2) 831 903 963 1,000 1,068 29% Mobile service fleet 1,453 1,532 1,584 1,692 1,769 22%       Supercharger stations 3,971 4,283 4,678 4,947 5,265 33% Supercharger connectors 36,165 38,883 42,419 45,169 48,082 33% (1)Days of supply is calculated by dividing new car ending inventory by the relevant quarter’s deliveries and using 75 trading days (aligned with Automotive News definition). (2)Starting in Q1-2023, we revised our methodology for reporting Tesla’s physical footprint. This count now includes all sales, service, delivery and body shop locations globally. O P E R A T I O N A L   S U M M A R Y (Unaudited)

V E H I C L E   C A P A C I T Y Installed Annual Vehicle Capacity Current Status Region Model Capacity Status California Model S / Model X 100,000 Production Model 3 / Model Y 550,000 Production Shanghai Model 3 / Model Y >750,000 Production Berlin Model Y 375,000 Production Texas Model Y >250,000 Production Cybertruck - Tooling Nevada Tesla Semi - Pilot production Various Next Gen Platform - In development TBD Roadster - In development Installed capacity ≠ current production rate and there may be limitations discovered as production rates approach capacity. Production rates depend on a variety of factors, including equipment uptime, component supply, downtime related to factory upgrades, regulatory considerations and other factors. Market share of Tesla vehicles by region (TTM) Source: Tesla estimates based on ACEA; Autonews.com; CAAM – light-duty vehicles only TTM = Trailing twelve months In Q2, we produced a record number of vehicles, thanks to ongoing ramps of our new factories as well as strong performance of Shanghai and Fremont. We remain committed to smoothing deliveries throughout the quarter by reducing the percentage of vehicles delivered in the 3rd month. Vehicles in-transit, test-drive and display vehicles account for a substantive majority of our total days of supply. US: California, Nevada and Texas At Gigafactory Texas, in addition to the continued success of the Model Y ramp, we are also working on equipment installation for Cybertruck production, which remains on track for initial deliveries this year. We have made notable progress on yield improvement of our 4680 cell production lines. We continue building capacity for cathode production and lithium refining in the U.S. China: Shanghai Since our Shanghai factory has been successfully running near full capacity for several months, we do not expect a meaningful increase in weekly production run rate. Gigafactory Shanghai remains our main export hub. Europe: Berlin-Brandenburg Our factory in Germany produced standard range Model Y vehicles in Q2 for the first time. Building off momentum from its success in Q1, Model Y was the best-selling vehicle of any kind in Europe year-to-date (based on the latest available data as of May).

C O R E   T E C H N O L O G Y Cumulative miles driven with FSD Beta (millions) Internal projection of Dojo compute power Artificial Intelligence Software and Hardware Four main technology pillars are needed to solve vehicle autonomy at scale: extremely large real-world dataset, neural net training, vehicle hardware and vehicle software. We are developing each of these pillars in-house. This month, we are taking a step towards faster and cheaper neural net training with the start of production of our Dojo training computer. Vehicle and Other Software For customers getting a Model 3 or Y for the first time, we launched the “Get To Know Your Tesla” experience where users can adjust their seats, mirrors, steering wheel, set up the phone key and learn about topics such as regenerative braking. To help customers discover ongoing improvements in software updates, we now highlight new features directly in the UI, encourage users to try features they may have missed and added the ability to search Controls. Battery, Powertrain & Manufacturing We are now testing Cybertruck vehicles around the world for final certification and validation. This might be the most unique vehicle product in decades; with that comes trialing and testing new technologies. As far as we know, Cybertruck will be the first sub-19 ft. truck (fitting into a garage) that has both four doors and 6+ ft. bed. Both technologically and architecturally, this vehicle will break a lot of boundaries – very much in line with how we think about vehicle engineering and manufacturing. Source: Tesla estimates

O T H E R H I G H L I G H T S Services & Other gross margin Energy Storage deployments (GWh) Energy Storage Energy storage deployments increased by 222% YoY in Q2 to 3.7 GWh, another strong quarter due to the ongoing ramp of our first dedicated Megapack factory (Megafactory) in Lathrop, CA. The ramp of this 40 GWh Megafactory – the first of many - has been successful with still more room to reach full capacity. While energy storage deployment rate can be volatile due to project timing, production rate improved further sequentially in Q2. Solar Solar deployments remained roughly flat sequentially at 66 MW, declining YoY, predominantly due to a high interest rate environment that is causing postponement of solar purchasing industry-wide. Services and Other business The 2nd quarter of 2023 has been the quarter of Supercharging. A significant number of companies, including Ford, GM, Mercedes, Nissan, Polestar, Rivian, Volvo and Electrify America, have announced adoption of NACS – a charging standard developed by Tesla over a decade ago – for their North American products. Further opening our charging network in 2024 will enable both faster market conversion from combustion vehicles to EVs as well as faster growth of our charging network through a larger addressable fleet.

O U T L O O K Volume We are planning to grow production as quickly as possible in alignment with the 50% CAGR target we began guiding to in early 2021. In some years we may grow faster and some we may grow slower, depending on a number of factors. For 2023, we expect to remain ahead of the long-term 50% CAGR with around 1.8 million vehicles for the year. Cash We have ample liquidity to fund our product roadmap, long-term capacity expansion plans and other expenses. Furthermore, we will manage the business such that we maintain a strong balance sheet during this uncertain period. Profit While we continue to execute on innovations to reduce the cost of manufacturing and operations, over time, we expect our hardware-related profits to be accompanied by an acceleration of AI, software and fleet-based profits. Product Cybertruck remains on track to begin initial production later this year at Gigafactory Texas. In addition, we continue to make progress on our next generation platform.

P H O T O S & C H A R T S

C Y B E R T R U C K T E S T I N G

C Y B E R T R U C K - B U I L T T O D O R E A L W O R K

C Y B E R T R U C K - P R O D U C T I O N L I N E A T G I G A F A C T O R Y T E X A S

C Y B E R T R U C K - P R O D U C T I O N L I N E A T G I G A F A C T O R Y T E X A S B U I L D I N G R C U N I T S

C Y B E R T R U C K - T H E F I R S T R C U N I T

Vehicle Deliveries (millions of units) K E Y   M E T R I C S   Q U A R T E R L Y (Unaudited) Operating Cash Flow ($B) Free Cash Flow ($B) Net Income ($B) Adjusted EBITDA ($B)

Operating Cash Flow ($B) Free Cash Flow ($B) K E Y   M E T R I C S   T R A I L I N G   1 2   M O N T H S   ( T T M ) (Unaudited) Net Income ($B) Adjusted EBITDA ($B) Vehicle Deliveries (millions of units)

K E Y   M E T R I C S   T R A I L I N G   1 2   M O N T H S   ( T T M ) (Unaudited) YoY Revenue Growth Operating Margin Source: OEM financial disclosures, Bloomberg Auto Industry includes: Tesla, BMW, Mercedes-Benz, Ford, GM, Honda, Hyundai, Nissan, Toyota and VW. Stellantis is excluded given limited historical disclosures due to the recent merger between FCA and PSA. Auto Industry operating margin is calculated by dividing the sum of USD equivalent operating profits for the entire industry by the USD equivalent revenues for respective periods.

F I N A N C I A L S T A T E M E N T S

In millions of USD or shares as applicable, except per share data Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 REVENUES           Automotive sales 13,670 17,785 20,241 18,878 20,419 Automotive regulatory credits 344 286 467 521 282 Automotive leasing 588 621 599 564 567 Total automotive revenues 14,602 18,692 21,307 19,963 21,268 Energy generation and storage 866 1,117 1,310 1,529 1,509 Services and other 1,466 1,645 1,701 1,837 2,150 Total revenues 16,934 21,454 24,318 23,329 24,927 COST OF REVENUES       Automotive sales 10,153 13,099 15,433 15,422 16,841 Automotive leasing 368 381 352 333 338 Total automotive cost of revenues 10,521 13,480 15,785 15,755 17,179 Energy generation and storage 769 1,013 1,151 1,361 1,231 Services and other 1,410 1,579 1,605 1,702 1,984 Total cost of revenues 12,700 16,072 18,541 18,818 20,394 Gross profit 4,234 5,382 5,777 4,511 4,533 OPERATING EXPENSES           Research and development 667 733 810 771 943 Selling, general and administrative 961 961 1,032 1,076 1,191 Restructuring and other 142 - 34 - - Total operating expenses 1,770 1,694 1,876 1,847 2,134 INCOME FROM OPERATIONS 2,464 3,688 3,901 2,664 2,399 Interest income 26 86 157 213 238 Interest expense (44) (53) (33) (29) (28) Other income (expense), net 28 (85) (42) (48) 328 INCOME BEFORE INCOME TAXES 2,474 3,636 3,983 2,800 2,937 Provision for income taxes 205 305 276 261 323 NET INCOME 2,269 3,331 3,707 2,539 2,614 Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries 10 39 20 26 (89) NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS 2,259 3,292 3,687 2,513 2,703           Net income per share of common stock attributable to common stockholders(1) Basic $ 0.73 $ 1.05 $ 1.18 $ 0.80 $ 0.85 Diluted $ 0.65 $ 0.95 $ 1.07 $ 0.73 $ 0.78 Weighted average shares used in computing net income per share of common stock(1) Basic 3,111 3,146 3,160 3,166 3,171 Diluted 3,464 3,468 3,471 3,468 3,478 S T A T E M E N T O F O P E R A T I O N S (Unaudited) (1) Prior period results have been retroactively adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in August 2022.

B A L A N C E   S H E E T (Unaudited) In millions of USD 30-Jun-22 30-Sep-22 31-Dec-22 31-Mar-23 30-Jun-23 ASSETS Current assets    Cash, cash equivalents and investments 18,915 21,107 22,185 22,402 23,075    Accounts receivable, net 2,081 2,192 2,952 2,993 3,447    Inventory 8,108 10,327 12,839 14,375 14,356    Prepaid expenses and other current assets 2,118 2,364 2,941 3,227 2,997       Total current assets 31,222 35,990 40,917 42,997 43,875 Operating lease vehicles, net 4,782 4,824 5,035 5,473 5,935 Solar energy systems, net 5,624 5,562 5,489 5,427 5,365 Property, plant and equipment, net 21,093 21,926 23,548 24,969 26,389 Operating lease right-of-use assets 2,185 2,251 2,563 2,800 3,352 Digital assets, net 218 218 184 184 184 Goodwill and intangible assets, net 437 419 409 399 465 Other non-current assets 2,952 3,236 4,193 4,584 5,026      Total assets 68,513 74,426 82,338 86,833 90,591 LIABILITIES AND EQUITY Current liabilities    Accounts payable 11,212 13,897 15,255 15,904 15,273    Accrued liabilities and other 6,037 6,246 7,142 7,321 7,658    Deferred revenue 1,858 1,928 1,747 1,750 2,176    Customer deposits 1,182 1,083 1,063 1,057 1,026    Current portion of debt and finance leases (1) 1,532 1,457 1,502 1,404 1,459      Total current liabilities 21,821 24,611 26,709 27,436 27,592 Debt and finance leases, net of current portion (1) 2,898 2,096 1,597 1,272 872 Deferred revenue, net of current portion 2,210 2,265 2,804 2,911 3,021 Other long-term liabilities 3,926 4,330 5,330 5,979 6,924       Total liabilities 30,855 33,302 36,440 37,598 38,409 Redeemable noncontrolling interests in subsidiaries 421 421 409 407 288 Total stockholders' equity 36,376 39,851 44,704 48,054 51,130 Noncontrolling interests in subsidiaries 861 852 785 774 764       Total liabilities and equity 68,513 74,426 82,338 86,833 90,591 (1) Breakdown of our debt is as follows:    Vehicle and energy product financing (non-recourse) 3,086 2,335 2,001 1,708 1,475              Other non-recourse debt 13 11 - - -    Recourse debt 53 51 44 44 44       Total debt excluding vehicle and energy product financing 66 62 44 44 44              Days sales outstanding 12 9 10 11 12    Days payable outstanding 80 72 72 75 70

In millions of USD Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 CASH FLOWS FROM OPERATING ACTIVITIES Net income 2,269 3,331 3,707 2,539 2,614 Adjustments to reconcile net income to net cash provided by operating activities:           Depreciation, amortization and impairment 922 956 989 1,046 1,154 Stock-based compensation 361 362 419 418 445 Other 145 220 354 40 (47) Changes in operating assets and liabilities, net of effect of business combinations (1,346) 231 (2,191) (1,530) (1,101) Net cash provided by operating activities 2,351 5,100 3,278 2,513 3,065 CASH FLOWS FROM INVESTING ACTIVITIES         Capital expenditures (1,730) (1,803) (1,858) (2,072) (2,060) Purchases of solar energy systems, net of sales (0) (0) (0) (1) (0) Proceeds from sales of digital assets 936 — — — — Purchases of investments (90) (991) (4,368) (2,015) (5,075) Proceeds from maturities of investments — 3 19 1,604 3,539 Proceeds from sales of investments — — — — 138 Receipt of government grants — — 76 — — Business combinations, net of cash acquired — — — — (76) Net cash used in investing activities (884) (2,791) (6,131) (2,484) (3,534) CASH FLOWS FROM FINANCING ACTIVITIES Net cash flows from other debt activities (154) (133) (162) (127) (124) Net repayments under vehicle and energy product financing (248) (766) (335) (294) (233) Net cash flows from noncontrolling interests – Solar (47) (42) (65) (43) (34) Other 43 229 67 231 63 Net cash used in financing activities (406) (712) (495) (233) (328)     Effect of exchange rate changes on cash and cash equivalents and restricted cash (214) (335) 123 50 (94) Net increase (decrease) in cash and cash equivalents and restricted cash 847 1,262 (3,225) (154) (891) Cash and cash equivalents and restricted cash at beginning of period 18,040 18,887 20,149 16,924 16,770 Cash and cash equivalents and restricted cash at end of period 18,887 20,149 16,924 16,770 15,879 S T A T E M E N T   O F   C A S H   F L O W S  (Unaudited)

In millions of USD or shares as applicable, except per share data Q2-2022 Q3-2022 Q4-2022 Q1-2023 Q2-2023 Net income attributable to common stockholders (GAAP) 2,259 3,292 3,687 2,513 2,703 Stock-based compensation expense 361 362 419 418 445 Net income attributable to common stockholders (non-GAAP) 2,620 3,654 4,106 2,931 3,148 Less: Buy-out of noncontrolling interest 3 — (35) (5) — Less: Dilutive convertible debt 0 0 0 0 0 Net income used in computing diluted EPS attributable to common stockholders (non-GAAP) 2,617 3,654 4,141 2,936 3,148       EPS attributable to common stockholders, diluted (GAAP)(1) 0.65 0.95 1.07 0.73 0.78 Stock-based compensation expense per share(1) 0.11 0.10 0.12 0.12 0.13 EPS attributable to common stockholders, diluted (non-GAAP)(1) 0.76 1.05 1.19 0.85 0.91 Shares used in EPS calculation, diluted (GAAP and non-GAAP)(1) 3,464 3,468 3,471 3,468 3,478 Net income attributable to common stockholders (GAAP) 2,259 3,292 3,687 2,513 2,703 Interest expense  44 53 33 29 28 Provision for income taxes 205 305 276 261 323 Depreciation, amortization and impairment 922 956 989 1,046 1,154 Stock-based compensation expense 361 362 419 418 445 Adjusted EBITDA (non-GAAP) 3,791 4,968 5,404 4,267 4,653 Total revenues 16,934 21,454 24,318 23,329 24,927 Adjusted EBITDA margin (non-GAAP) 22.4% 23.2% 22.2% 18.3% 18.7% R e c o n c I l I a t I o n   o f   G A A P   t o   N o n – G A A P   F I n a n c I a l   I n f o r m a t I o n (Unaudited) (1) Prior period results have been retroactively adjusted to reflect the three-for-one stock split effected in the form of a stock dividend in August 2022.

R e c o n c I l I a t I o n   o f   G A A P   t o   N o n – G A A P   F I n a n c I a l   I n f o r m a t I o n (Unaudited) In millions of USD 3Q-2020 4Q-2020 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 Net cash provided by operating activities – TTM (GAAP) 4,349 5,943 8,024 9,184 9,931 11,497 13,851 14,078 16,031 14,724 13,242 13,956 Capital expenditures – TTM (2,418) (3,157) (4,050) (5,009) (5,823) (6,482) (6,901) (7,126) (7,110) (7,158) (7,463) (7,793) Free cash flow – TTM (non-GAAP) 1,931 2,786 3,974 4,175 4,108 5,015 6,950 6,952 8,921 7,566 5,779 6,163 In millions of USD 3Q-2020 4Q-2020 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 Net income attributable to common stockholders – TTM (GAAP) 556 721 1,143 2,181 3,468 5,519 8,399 9,516 11,190 12,556 11,751 12,195 Interest expense – TTM 672 748 678 583 546 371 333 302 229 191 159 143 Provision for income taxes – TTM 251 292 359 453 490 699 976 1,066 1,148 1,132 1,047 1,165 Depreciation, amortization and impairment – TTM 2,281 2,322 2,390 2,504 2,681 2,911 3,170 3,411 3,606 3,747 3,913 4,145 Stock-based compensation expense – TTM 1,382 1,734 2,137 2,264 2,196 2,121 1,925 1,812 1,699 1,560 1,560 1,644 Adjusted EBITDA – TTM (non-GAAP) 5,142 5,817 6,707 7,985 9,381 11,621 14,803 16,107 17,872 19,186 18,430 19,292 TTM = Trailing twelve months In millions of USD 4Q-2019 1Q-2020 2Q-2020 3Q-2020 4Q-2020 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 Net cash provided by (used in) operating activities (GAAP) 1,425 (440) 964 2,400 3,019 1,641 2,124 3,147 4,585 3,995 2,351 5,100 3,278 2,513 3,065 Capital expenditures (412) (455) (546) (1,005) (1,151) (1,348) (1,505) (1,819) (1,810) (1,767) (1,730) (1,803) (1,858) (2,072) (2,060) Free cash flow (non-GAAP) 1,013 (895) 418 1,395 1,868 293 619 1,328 2,775 2,228 621 3,297 1,420 441 1,005 In millions of USD 4Q-2019 1Q-2020 2Q-2020 3Q-2020 4Q-2020 1Q-2021 2Q-2021 3Q-2021 4Q-2021 1Q-2022 2Q-2022 3Q-2022 4Q-2022 1Q-2023 2Q-2023 Net income attributable to common stockholders (GAAP) 105 16 104 331 270 438 1,142 1,618 2,321 3,318 2,259 3,292 3,687 2,513 2,703 Interest expense 170 169 170 163 246 99 75 126 71 61 44 53 33 29 28 Provision for income taxes 42 2 21 186 83 69 115 223 292 346 205 305 276 261 323 Depreciation, amortization and impairment 577 553 567 584 618 621 681 761 848 880 922 956 989 1,046 1,154 Stock-based compensation expense 281 211 347 543 633 614 474 475 558 418 361 362 419 418 445 Adjusted EBITDA (non-GAAP) 1,175 951 1,209 1,807 1,850 1,841 2,487 3,203 4,090 5,023 3,791 4,968 5,404 4,267 4,653

A D D I T I O N A L   I N F O R M A T I O N WEBCAST INFORMATION Tesla will provide a live webcast of its second quarter 2023 financial results conference call beginning at 4:30 p.m. CT on July 19, 2023 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafter.   CERTAIN TERMS When used in this update, certain terms have the following meanings. Our vehicle deliveries include only vehicles that have been transferred to end customers with all paperwork correctly completed. Our energy product deployment volume includes both customer units installed and equipment sales; we report installations at time of commissioning for storage projects or inspection for solar projects, and equipment sales at time of delivery. "Adjusted EBITDA" is equal to (i) net income (loss) attributable to common stockholders before (ii)(a) interest expense, (b) provision for income taxes, (c) depreciation, amortization and impairment and (d) stock-based compensation expense, which is the same measurement for this term pursuant to the performance-based stock option award granted to our CEO in 2018. "Free cash flow" is operating cash flow less capital expenditures. Average cost per vehicle is cost of automotive sales divided by new vehicle deliveries (excluding leases). “Days sales outstanding” is equal to (i) average accounts receivable, net for the period divided by (ii) total revenues and multiplied by (iii) the number of days in the period. “Days payable outstanding” is equal to (i) average accounts payable for the period divided by (ii) total cost of revenues and multiplied by (iii) the number of days in the period. “Days of supply” is calculated by dividing new car ending inventory by the relevant quarter’s deliveries and using 75 trading days. Constant currency impacts are calculated by comparing actuals against current results converted into USD using average exchange rates from the prior period. NON-GAAP FINANCIAL INFORMATION Consolidated financial information has been presented in accordance with GAAP as well as on a non-GAAP basis to supplement our consolidated financial results. Our non-GAAP financial measures include non-GAAP net income (loss) attributable to common stockholders, non-GAAP net income (loss) attributable to common stockholders on a diluted per share basis (calculated using weighted average shares for GAAP diluted net income (loss) attributable to common stockholders), Adjusted EBITDA, Adjusted EBITDA margin and free cash flow. These non-GAAP financial measures also facilitate management’s internal comparisons to Tesla’s historical performance as well as comparisons to the operating results of other companies. Management believes that it is useful to supplement its GAAP financial statements with this non-GAAP information because management uses such information internally for its operating, budgeting and financial planning purposes. Management also believes that presentation of the non-GAAP financial measures provides useful information to our investors regarding our financial condition and results of operations, so that investors can see through the eyes of Tesla management regarding important financial metrics that Tesla uses to run the business and allowing investors to better understand Tesla’s performance. Non-GAAP information is not prepared under a comprehensive set of accounting rules and therefore, should only be read in conjunction with financial information reported under U.S. GAAP when understanding Tesla’s operating performance. A reconciliation between GAAP and non-GAAP financial information is provided above.  FORWARD-LOOKING STATEMENTS Certain statements in this update, including statements in the “Outlook” section; statements relating to the future development, ramp, production and capacity, demand and market growth, cost, pricing and profitability, investment, deliveries, deployment, availability and other features and improvements and timing of existing and future Tesla products and technologies such as Model 3, Model Y, Model X, Model S, Cybertruck, Tesla Semi, our next generation vehicle platform, our Dojo training computers, our Autopilot, Full Self-Driving and other vehicle software and AI enabled products, our battery cells, our Supercharging network, our energy storage and solar products and our financing products; statements regarding operating margin, operating profits, spending and liquidity; and statements regarding expansion, improvements and/or ramp and related timing at our factories are “forward-looking statements” that are subject to risks and uncertainties. These forward-looking statements are based on management’s current expectations, and as a result of certain risks and uncertainties, actual results may differ materially from those projected. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: uncertainties in future macroeconomic and regulatory conditions arising from the current global pandemic; the risk of delays in launching and manufacturing our products and features cost-effectively; our ability to grow our sales, delivery, installation, servicing and charging capabilities and effectively manage this growth; consumers’ demand for electric vehicles generally and our vehicles specifically; the ability of suppliers to deliver components according to schedules, prices, quality and volumes acceptable to us, and our ability to manage such components effectively; any issues with lithium-ion cells or other components manufactured at our factories; our ability to ramp our factories in accordance with our plans; our ability to procure supply of battery cells, including through our own manufacturing; risks relating to international expansion; any failures by Tesla products to perform as expected or if product recalls occur; the risk of product liability claims; competition in the automotive and energy product markets; our ability to maintain public credibility and confidence in our long-term business prospects; our ability to manage risks relating to our various product financing programs; the status of government and economic incentives for electric vehicles and energy products; our ability to attract, hire and retain key employees and qualified personnel and ramp our installation teams; our ability to maintain the security of our information and production and product systems; our compliance with various regulations and laws applicable to our operations and products, which may evolve from time to time; risks relating to our indebtedness and financing strategies; and adverse foreign exchange movements. More information on potential factors that could affect our financial results is included from time to time in our Securities and Exchange Commission filings and reports, including the risks identified under the section captioned “Risk Factors” in our annual report on Form 10-K filed with the SEC on January 31, 2023. Tesla disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events or otherwise.