I can’t wait for the back end codes and other first hints of Optimus showing up in Tesla app. Just imagine it. Say you buy groceries and get in your car. Use the mic button on the steering wheel. Hey Optimus. Meet me at the door by 3:32pm (to help me with xx). You get home and as your Optimus approaches the trunk the trunk opens and it grabs the bags and carries things for you Think about another scenario. When you go to a hotel or air bnb and they have Optimus as part of service (higher end properties). All you have to do is connect to Optimus like you do to a rental Tesla and your Optimus cloud profiles will load and it will know your preferences. All you have to do is ask for restaurant recommendations, and it will list a few restaurants based on your food preferences, dietary restrictions, etc. Even shops or shopping malls, it will be able to tell you whats where, etc. Tesla will be an ecosystem. From transportation household and Energy. People will call it for ride hail and discover and order bots. Cars. Energy products on the app. We are still early and this is only the beginning. Elon wasn’t joking when he said this isn’t just a new chapter. It’s a new book. New era is just around the corner Get ready $TSLA

HOLY S…… HE SAID WHAT?

#종묘 는 우리나라의 첫 #세계유산 입니다. 500년 넘게 이어온 종묘제례·제례악의 살아있는 유산이기도 합니다. 단순히 높이와 그늘 문제가 아닙니다. 미래세대에 세계가 향유하는 문화유산을 물려줄지, 콘크리트빌딩을 물려줄지 깊이 고민해야합니다. 국가유산청은 우리유산을 여러분과 지키겠습니다.

Livestream starts at 3pm CT x.com/i/broadcasts/1LyGBXwkN…

BREAKING: ROBINHOOD OFFICIALLY OFFERING “UNCAPPED” 2% BONUS FOR TRANSFERRING $TSLA SHARES 👀 Amazing deal !

Tesla shareholders, there are only 2 days left to vote & make your voice heard Vote with the Board’s recommendations on ALL proposals – we need your support to execute our ambitious vision. Voting is quick and easy, detailed instructions below votetesla.com/how-to-vote/

Baron Capital Supports Elon Musk’s 2025 CEO Performance Award Baron Capital is in support of the proposed 2025 CEO Performance Award. We believe it reflects the same principles of accountability, performance and alignment with shareholder interests that drove Tesla’s past success. The plan ensures that shareholders win first, and that Elon Musk continues to lead Tesla for many years to come. We commend the Board for recognizing this and for working to retain Tesla’s most valuable asset. We believe the 2025 CEO Performance Award is right for the company, right for shareholders and right for the future. Baron Capital has been investing in @Tesla since 2014. Our shareholders and clients have benefited enormously from @elonmusk’s vision, determination and execution. Tesla’s success and its future are inseparable from Elon. Elon is the ultimate “key man” of key man risk. Without his relentless drive and uncompromising standards, there would be no Tesla. He has built one of the most important companies in the world. He’s redefining transportation, energy and humanoid robotics and creating lasting value for shareholders while doing it. His interests are completely aligned with investors. He owns 13% of the company. We will be voting FOR. Supplemental Information When my analyst team met with Elon Musk for two hours in our New York City office in 2010 during Tesla’s IPO roadshow, we thought his plans were more hopeful than plausible. Only one of our Funds made a small investment in Tesla at that time. But because Elon is a very impressive executive, we monitored Tesla closely for the next few years. Our research included several visits to Tesla's factories in Fremont, California and Reno, Nevada and frequent phone calls with Tesla executives including Elon. In 2014 when sales of Model S began to increase significantly, I concluded we had been wrong thinking that Elon would not succeed. From 2014 to 2016 Baron Capital purchased approximately $400 million Tesla shares at prices that were about 13X higher than Tesla's IPO price! Tesla's shares have since increased more than 30X our purchase price in 2014. Baron Capital has earned about $8 billion profits realized and unrealized from our Tesla shares for our clients and proprietary accounts. We began to purchase shares in another Musk business, @SpaceX, in 2017. We have invested about $1.3 billion to date in SpaceX. We have since earned about $4 billion profits realized and unrealized on those SpaceX purchases. Our recent $338 million investment in Elon's @xAI data center, social network and Grok AI, has produced about $340 million profits realized and unrealized to date. Profits earned from Musk-controlled businesses represent about 24% of the $52 billion profits we have earned for clients and proprietary accounts since 1992 when we managed $100 million in assets. Musk entities, due to their significant capital appreciation, now represent about 26% of our Firm's $44 billion AUM. We believe that Baron Capital could earn at least 5X the profits we have generated to date from the Musk ecosystem by 2035. If we are right, the beneficiaries of this success will be the estimated 1 million-plus working class and mass affluent, Baron mutual fund shareholders...their IRAs and 401(k) retirement accounts...as well as our institutional clients including endowments, foundations and sovereigns...and, looking through those entities, millions of additional individuals. Further, we think the impact of our investments in Tesla is far greater than the amounts we manage directly. This belief is based on the fact that virtually every day when I am walking on the streets of New York City or in restaurants or traveling...people approach me to say, "Thank you, Ron. You have changed my life!" That is since, for the past twelve years, I have appeared on CNBC’s Squawk Box three or four times a year and have spoken about Tesla...and lately SpaceX, too...and investors have obviously been watching and listening. Tesla's bonus contract with Elon has been written to achieve an objective to get Robotaxi and Optimus robots to scale. If successful, Tesla could earn $400 billion per year in adjusted EBITDA for an extended period by 2035. That could produce a market capitalization for Tesla of over $8 trillion. We believe by 2045 Tesla value could quadruple its 2035 levels. Tesla’s current market cap is $1.5 trillion. Elon will only achieve his full bonus payout if those objectives are met. Tesla shareholders benefit before he does by reaching aggressive market cap objectives that few believe can be attained. We think it is unlikely at this time anyone, but Elon could accomplish those objectives. We believe Elon is not only perhaps the most extraordinary engineer on our planet but an unusually competent businessperson. If he did not live in this country, we think it improbable there would be electric cars...reusable space rockets...Starlink broadband satellites...self-driving cars...giant storage batteries that can be added to America's electric utility grid quickly to provide required energy for AI data centers’ growth in our country...a satellite system protecting our homeland...super-fast manufacturing lines...AI digitizing physical processes...and who knows what else... We also deem it important that another element in Elon's bonus contract is succession. Tesla has 124,000 employees. The company hires only a small fraction of the millions of applicants from top engineering schools for Tesla engineering jobs. I found the comment of one Tesla Board member to me recently especially memorable: "Other AI businesses hire mercenary engineers. Tesla hires brilliant young engineers and trains them. Why would they ever want to leave?" Elon meets regularly with 30 to 40 engineers at a time in a room to discuss their work in various disciplines. And help solve problems they may be facing. Another Board member noted that when those employees leave the room, most are shaking their heads. The common refrain is that solutions to tasks they had thought unsolvable were outlined by Elon. On the fly. "I can't believe what we are learning," was heard most often from the best and brightest. It is rare that a senior executive challenges his prior assumptions recursively. Elon does. In my opinion, culture and people at Musk companies are unmatched at any publicly owned business I have visited in my 55-year career. That's because of him. From the large pool of awesome, talented engineers Elon is assembling, it should be possible to create an executive team to succeed Elon at some distant future point...if he ever decides he's done... If Elon ever leaves Tesla, we believe it's certainly not to sit on a beach somewhere drinking Mai Tai cocktails! On Mars, maybe. But a beach in the Caribbean? No way. Ron Baron (@RonBaronAnalyst) Founder CEO Baron Capital November 3, 2025 ______________________ You should consider the investment objectives, risk, charges, and expense of any of the Baron Funds carefully before investing. The prospectus contains this and other information about Baron Funds. You may obtain one from its distributor, Baron Capital, Inc., by calling 1-800-99-BARON or visiting BaronCapitalGroup.com. Please read it carefully before investing. The performance data quoted represents past performance. Past performance can be no guarantee of future results. Risks: All investments are subject to risk and may lose value. The discussion of market trends is not intended as advice to any person regarding the advisability of investing in any particular security. The views expressed in this document reflect those of the respective writer. Some of our comments are based on management expectations and are considered “forward-looking statements.” Actual future results, however, may prove to be different from our expectations. Our views reflect our best judgment at the time and are subject to change at any time based on market and other conditions and Baron Capital has no obligation to update them. Portfolio Holdings as a Percentage of Net Assets as of September 30, 2025: Tesla, Inc. - Baron Fifth Avenue Growth Fund (4.3%), Baron Focused Growth Fund (9.7%), Baron Global Opportunity Fund (1.9%), Baron Opportunity Fund (6.0%), Baron Partners Fund (33.2%*), Baron Technology Fund (5.2%); Space Exploration Technologies Corporation - Baron Asset Fund (6.3%), Baron Fifth Avenue Growth Fund (1.5%), Baron Focused Growth Fund (11.6%), Baron Global Opportunity Fund (10.4%), Baron Opportunity Fund (4.5%), Baron Partners Fund (18.1%*); X.AI Holdings Corp. - Baron Asset Fund (3.2%), Baron Fifth Avenue Growth Fund (0.8%), Baron Focused Growth Fund (2.2%), Baron Opportunity Fund (1.2%), Baron Partners Fund (0.7%*). *% of Long Positions. Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk. BAMCO, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Baron Capital, Inc. is a broker-dealer registered with the SEC and member of the Financial Industry Regulatory Authority, Inc. (FINRA).

Megapack grid-forming inverters are key to enabling global grid stability and reliability This technology allows Megapack to resist changes on the network by creating its own voltage signal, preventing blackouts and allowing more renewables to come online

And you forgot to mention act 4, where this issue was fixed and you received a refund within 24 hours. But that is in your nature.

BREAKING: ELON MUSK SAYS — $TSLA WILL HAVE 1,000+ ROBOTAXIS IN BAY AREA THIS YEAR 👀 Insanely fast expansion !

NEWS: Elon Musk says Tesla will have 500 Robotaxis in Austin by the end of this year, and over 1,000 cars in the Bay Area. via @theallinpod

Won the costume contest

My firm, @atreidesmgmt, will be voting in favor of Elon Musk’s performance-based compensation package. And I would prefer that *every* company I invest in have a comparable plan. I believe shareholders should generally support thoughtfully structured performance-based CEO compensation packages because they incentivize CEOs to create transformational growth and value. The basic logic of these plans is the CEO gets 10% of the incremental value creation if they 10x the stock with a 2x hurdle. So shareholders get a 900% stock increase and the CEO gets an incremental 10%. The first Tesla plan incented Elon to >10x the value of Tesla. He achieved all of the milestones and may never be paid for this. The Axon plan incented Rick Smith to >5x the value of Axon and he did. And when milestones aren’t met (such as Farfetch), then the CEOs don’t receive the payouts. The new Tesla plan is arguably better than the first as it also includes financial and technological milestones in addition to market cap-based incentives. Tesla was founded to fight climate change and decarbonize the world. They have succeeded: because of Tesla the world is now on a glide path to significantly lower per capita emissions as EVs of all types replace combustion engines. The world is going to run on sunlight. And while Optimus has the potential to be a great product that will bring about sustainable abundance, Elon absolutely wants to make sure that it is also a safe product. We have all seen "Terminator" and ensuring the safety of Optimus is why he needs a greater voting stake in Tesla. Elon's involvement is integral to maintaining Tesla’s current course and trajectory. Without proper alignment and incentivization, I think it is possible that he will focus more on his other goals: (i) helping humanity become a multiplanetary civilization, (ii) creating a BCI to improve the lives of paralyzed and soon blind humans that also paves the way for humans to continue to add value to the world post ASI, (iii) helping to create a multipolar AI world that is safer for humans, and (iv) ensuring that at least one of these AIs is dedicated to the truth. All of these are worthy goals, but so is sustainable abundance here on earth and so is having at least one public company that benefits from his efforts and is accessible to all Americans. If this vote fails, Robyn Denholm, the chair of Tesla’s board, noted that Elon might leave. Elon is mission critical for Optimus and if he leaves, it seems possible that Optimus might be made by a company other than Tesla – whether xAI or SpaceX or some JV - with Tesla receiving some sort of revenue share in return for their contributions to date in the spirit of fairness that Elon has always followed with his investors. I believe it is highly likely that Tesla’s stock would decline significantly should Elon leave and even more should the Optimus team leave with him. If this compensation package is approved, I will be rooting for him as a shareholder as he works super hard to achieve the value-creating milestones that would benefit both him and shareholders. I do not know how other shareholders feel, but I would certainly like another 10x in Tesla and simply do not believe this is possible without Elon. Every vote matters because from my perspective many proxy voting firms are no longer primarily focused on shareholder value creation and the corporate governance departments at many investment firms feel bound to follow their decisions. The silliness of their concerns about dilution are self-evident in that the dilution would only occur after substantial share price appreciation for Tesla. I want my 10x. I should note that @atreidesmgmt is an investor in many of Elon Musk’s companies. @atreidesmgmt invests in these companies because I regard Elon as an exceptional founder who has repeatedly created significant value in different industries.

It will be a big deal long term

“Robotaxi” is the same Model Y that everyone who buys the car receives. It just has a slightly different software build.

Great @Tesla_Optimus engineering & manufacturing review today! Imagine having your personal C-3PO & R2-D2 … Optimus will be even better.

Now available in even more of Austin

With over $280 billion of total assets under management and over $1 billion in Tesla shares, the State Board of Administration of Florida Retirement System came out strongly in favor of our incentive proposal for Elon, designed to drive extraordinary growth, which the SBA describes as the “gold standard” See the SBA’s full comments below sec.gov/Archives/edgar/data/…

I never attacked anyone, but I was attacked, hit and sunk multiple times. No one cares: it's ok. I started posting non-stop, every single day, no Christmas, no bank holidays, 11 years ago this month. Resilience, consistency, determination. If you want to support, subscribe.

🚨BREAKING: IN NEW YORK CITY, OPTIMUS IS CELEBRATING HALLOWEEN BY HANDING OUT CANDY TO RESIDENTS! $TSLA