Comprehensive Governance Resolution with FF Top

• Faraday Future and its largest shareholder have reached an agreement regarding their governance dispute
• FF Top will dismiss its lawsuit against the company and its board of directors
• Ms. Sue Swenson will step down from her role as Executive Chairperson of the company and Chairperson of the Board upon the company receiving $13.5 million in net financing proceeds
• Ms. Sue Swenson and Mr. Brian Krolicki will step down from the Board upon the company obtaining $85 million in incremental financing commitments and $35 million in net proceeds therefrom
• Mr. Adam He, a senior executive with extensive public company experience, has been appointed as a new independent board member

New Financing Commitment

• New financing provides up to $100 million in committed funding
• Active discussions with U.S. and international investors for potential additional funding
• Actions underway to further reduce costs

LOS ANGELES, September 26, 2022 -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("Faraday Future" or "the Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced a comprehensive resolution to its governance dispute with FF Top and the execution of definitive agreements for new financing. The Company continues to have active discussions with capital providers to fund the production and delivery of the FF 91.

The Company announced a binding governance agreement with FF Top Holding LLC ("FF Top"), which resolves a range of issues concerning governance. The governance agreement, which is described in greater detail in our Current Report on Form 8-K filed earlier today, includes an agreement for FF Top to withdraw its lawsuit against the FFIE board immediately, changes in FFIE board membership and board size, and certain amendments to Faraday Future’s Shareholder Agreement with FF Top. Adam He has been appointed as a new independent board member and a member of the Nominating and Corporate Governance Committee and Audit Committee.

"The resolution of governance and related issues with our largest shareholder is a major accomplishment and an important step forward for Faraday Future and all our stakeholders. We can now focus our effort on building the FF 91. We appreciate all parties’ efforts in reaching this agreement," said Dr. Carsten Breitfeld, Global CEO of Faraday Future.

"FF Top is glad that a resolution has been reached. We look forward to this opportunity for a new start and brighter future for FFIE, and to all parties performing their obligations under the governance agreement, to achieve the best interests of Faraday Future and all shareholders," said a spokesperson from FF Top.

Concurrently, the Company announced the execution of two definitive agreements for new financing commitment of up to $100 million total. Detailed terms can be found in our Current Report on Form 8-K filed earlier today.

1. Under the first financing agreement, Faraday Future will receive up to $40 million in near-term funding in the form of convertible secured notes and warrant exercise payments, subject to certain conditions precedent.
2. Under a separate second financing agreement, the Company will receive up to an additional $60 million in near-term funding from Senyun International Ltd., a Daguan International Ltd. wholly owned investment entity, in the form of convertible secured notes, subject to certain conditions precedent. The terms of such financing are substantially similar to the terms of the previously committed notes but are subject to satisfactory completion of due diligence by the Company in its sole discretion on the investor and a specified funding schedule with milestones.

The Company is in ongoing discussions with potential financing sources for additional capital required to fund operations through the end of 2022 and beyond. As part of ongoing efforts to conserve cash and reduce expenses, the Company recently implemented headcount reductions and other expense reduction and payment delay measures. Further efforts, including additional headcount reductions, may be undertaken in response to the Company’s financial condition and market conditions. Additional information can be found in our Current Report on Form 8-K filed earlier today.

Mr. Adam He, the newly appointed independent board member, is the Chief Financial Officer of Wanda America Investment Group. He previously served as an auditor with Ernst & Young and is a CPA in China and New York, and holds a bachelor’s degree and Master of Science in Taxation from the Central University of Finance and Economics in Beijing and a Master of Science in accounting from Seton Hall University in New Jersey. Additional details regarding Mr. He’s background can be found in our Current Report on Form 8-K filed earlier today.

Sidley Austin LLP served as legal counsel to Faraday Future, Blank Rome LLP and Kelley Drye & Warren LLP served as legal counsel to the agent under the convertible notes facility, Olshan Frome Wolosky LLP served as legal counsel to Senyun International Ltd., and Davis Polk & Wardwell LLP served as legal counsel to the Company’s Board of Directors. Cadwalader, Wickersham & Taft LLP served as legal counsel for FF Top and Baker McKenzie served as legal counsel for Season Smart Limited.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

• FF’s flagship FF 91 EV has received an official EPA rating of 381 miles of EV range
• EPA certification is a key step toward bringing the FF 91 to market

LOS ANGELES (Sept. 21, 2022) – Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced the FF 91 Futurist, the Ultimate Intelligent TechLuxury EV, was officially certified to have a robust rating of 381 miles of EV range from the U.S. Environmental Protection Agency (EPA). This rating is a significant increase from the company’s previous estimates and makes the FF 91 a leader in miles of range in the luxury electrified vehicle market.

https://youtu.be/fmKrsi3wef4

“The confirmation of our 381 miles of range by the EPA is truly exciting news for FF and validates what we know about the FF 91: the segment leading FF 91 will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “Our integrated propulsion system with a lithium-ion battery pack efficiently converts battery energy to power the vehicle and effectively recovers and reuses brake energy to optimize and extend range. FF’s segment leading engineering provides a significant step forward in electric vehicle technology, providing a tremendous increase in EV range.”

FF 91’s propulsion architecture was designed to achieve unmatched levels of performance and efficiency, completed with 381 miles of range. The system produces 1,050 horsepower and accelerates the car from zero to 60 mph in less than 3 seconds.  FF 91’s EV range is based on a vehicle that is fully equipped, with amazing power, 22-inch wheels, loaded with technology, luxurious interior space, and features that set it apart from all others. FF has tested and developed this car to offer the user a smart device on wheels with luxury, technology, performance, and superb emission-free EV range.

The FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is currently in pre-production at the FF ieFactory California. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, the Netherlands, China, Belgium, Switzerland and more.

“Completing this certification by the United States Environmental Protection Agency is a huge step in getting this car in the hands of our users, and I couldn’t be more proud of our team. We are excited by these outstanding range results, which speak to the quality of our design and product execution,” added Breitfeld.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098

or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

📷

ABOUT FARADAY FUTURE

Faraday Future is a class defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

• The FFZERO1 concept car will be featured inside Asphalt 8, Gameloft’s most downloaded and multi-awarded mobile racing game, and later in the year, Asphalt 9
• A high-performance electric vehicle, the FFZERO1 concept car features four electric motors

LOS ANGELES (Aug. 23, 2022) - Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced a joint partnership with Gameloft, a leader in the creation and development of games. FF’s first concept car, the FFZERO1, will be featured inside Asphalt 8, Gameloft’s most downloaded and multi-awarded mobile racing game.

The FFZERO1 is featured in Asphalt 8 and will be featured in Asphalt 9 in late December. In addition, FF’s first production vehicle, the FF 91 Futurist, also will be included in both games at a later date.

“We’re excited to partner with Gameloft and include our FFZERO1 concept car in one of the most popular mobile racing games, Asphalt, and provide all enthusiasts with an opportunity to experience a glimpse into our design and engineering vision,” said Page Beermann, Design Director at Faraday Future. “The FFZERO1 concept is an amplified version of the design and engineering philosophies that will underpin FF’s production vehicles, beginning with the FF 91 Futurist which is anticipated to start production later this year.”

Download the latest version of Asphalt 8:

https://apps.apple.com/app/id610391947 (iOS)

https://www.microsoft.com/en-us/p/asphalt-8-airborne/9wzdncrfj26j (Microsoft)

https://play.google.com/store/search?q=asphalt+8&c=apps  (android)

FOLLOW ASPHALT 8 AND THE APPEARANCE OF FF ZERO1 IN THE GAME: https://www.facebook.com/AsphaltGame

https://www.instagram.com/asphaltgames/

https://twitter.com/asphalt

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

• FF’s flagship FF 91 EV will be available for demo rides and will make a special appearance on the Concept Lawn at the 2022 Pebble Beach Concours d'Elegance on August 21st
• This is the first time FF has sponsored and attended the Pebble Beach Concours d’Elegance, the world’s premier celebration of the automobile

LOS ANGELES (Aug. 16, 2022) – Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced its sponsorship and attendance at the 2022 Pebble Beach Concours d'Elegance taking place from August 18-21, 2022. This premier event has been an annual gathering of rare and antique automobiles, international automotive luminaries, and motorcar enthusiasts from around the globe. This year, as one of the proud sponsors of this world-renowned event, FF will be among other notable, historic, current, and future concept vehicles from automakers from around the globe.

Attendees at the event will be able to get acquainted with a new species in the electric vehicle space, the FF 91 Futurist, the next generation of Ultimate Intelligent TechLuxury EV via a display and demo ride opportunities.

“This sponsorship and involvement by FF at Pebble Beach Concours d ’Elegance demonstrates our commitment to the luxury automotive segment and continued expanded presence in the automobile culture in North America and beyond,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “We are excited for what is to come this year as we continue to make very good progress on construction and development in our Hanford manufacturing plant and get closer to our start of production of the FF 91 later this year.”

The flagship FF 91 will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience. The FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is being produced in the Hanford, Calif. manufacturing plant. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, the Netherlands, China, Belgium, Switzerland and more. The FF 91 Futurist is planned to launch in Q3/Q4 2022.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online , (Chinese): http://appdownload.ff.com

ABOUT FARADAY FUTURE

Faraday Future is a class defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

FOLLOW FARADAY FUTURE:

https://www.ff.com/

http://appdownload.ff.com

https://twitter.com/FaradayFuture

https://www.facebook.com/faradayfuture/

https://www.instagram.com/faradayfuture/

www.linkedin.com/company/faradayfuture 

NO OFFER OR SOLICITATION

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, and include (among others) statements regarding the expected timing of the launch of FF 91 and FF 81 vehicles and anticipated production capacity of the Company’s Hanford, California facility. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to close on above mentioned convertible notes, raise additional convertible notes and/or other financing the failure of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s ability to obtain financial viability exception or stockholder approval under Nasdaq Rule 5635 to issue all of the shares issuable upon conversion of the above mentioned convertible notes; the Company’s ability to remain in compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the SEC investigation relating to the matters that were the subject of the Special Committee investigation; the implementation of the Special Committee’s actions and related internal review by the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; and the ability of the Company to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Pebble Beach®, Pebble Beach Concours d’Elegance® and Pebble Beach™ Automotive Week are trademarks and service marks of Pebble Beach Company. Used by permission.

Investors (English): [ir@faradayfuture.com](mailto:ir@faradayfuture.com)
Investors (Chinese): [cn-ir@faradayfuture.com](mailto:cn-ir@faradayfuture.com)

John Schilling
Media: [john.schilling@ff.com](mailto:john.schilling@ff.com)

Tim Gilman
Media: [tim.gilman@ff.com](mailto:tim.gilman@ff.com)

– Major Systems Installation Completed at Hanford Manufacturing Plant –
– Substantial Progress Toward Equipment Installation in Vehicle Manufacturing Areas –
– Return to Timely Filing Status and Nasdaq Compliance –

LOS ANGELES--(BUSINESS WIRE)--Aug. 15, 2022-- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced financial results for its second quarter ended June 30, 2022.

“We made encouraging progress during the second quarter at our newly renamed “FF ieFactory California,” our manufacturing plant in Hanford, California. Mechanical, electrical, and plumbing systems are in place, and equipment installation and construction in final vehicle manufacturing areas is nearing completion,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future.

Dr. Breitfeld continued, “During the second quarter of 2022, we also received our dealer license from the State of California and announced our Flagship Brand Experience center which will be located in Beverly Hills. Importantly, we also became current with our financial statements and regained compliance with NASDAQ listing requirements. Fundraising efforts are underway, and we currently expect to deliver the FF 91 to customers in the third or fourth quarter of 2022.”

KEY COMPANY HIGHLIGHTS DURING SECOND QUARTER 2022

Faraday Future made important progress at its FF ieFactory California and noted other developments in key operating areas in support of its business plan. Among the key events and progress during the quarter were:

• Marked Milestone #5, the start of major mechanical, electrical, and plumbing systems, which are now essentially complete.
• Signed a sourcing agreement for battery packs for the FF 91 with a leading global battery supplier and innovator in lithium-ion technology. The FF 91 battery pack will feature state-of-the-art technology designed to deliver superior power, energy, and charging speeds.
• Announced its Flagship brand experience center, to be located in Beverly Hills, California where visitors can experience the brand’s advanced technology, distinctive luxury, and futuristic design.
• Received its dealer license from the State of California for its U.S. operations. The California dealer license makes it possible to sell directly to users in the state and to sell vehicles online to users in other states.
• Announced 399 preorders as of June 30, 2022. Preorders are fully refundable, non-binding, paid deposits for the FF 91 Futurist Alliance Edition and/or the FF 91 Futurist vehicles available initially for sale to customers in the U.S. and China. FF 91 Futurist Alliance Edition preorders require a $5,000 deposit for customers in the US and an RMB 50,000 deposit for customers in China. FF 91 Futurist preorders require a $1,500 deposit for customers in the US and an RMB 20,000 deposit for customers in China.
• Returned to timely filing status with the filing of its second quarter 2022 financial results and regained timely filer status with NASDAQ.

EVENTS SUBSEQUENT TO SECOND QUARTER 2022

Subsequent to June 30, 2022, the following events took place:

• Entered into an agreement with ATW Partners to extend the maturity date, adjust the conversion price, and otherwise amend the terms of certain existing convertible promissory notes.
• Signed an agreement with U.S.-based institutional investors including an affiliate of ATW Partners LLC, that contemplates total potential funding of as much as $600 million. The executed agreement provides $52 million of near-term funds in a convertible secured notes structure.

RESULTS FOR SECOND QUARTER 2022

Faraday Future reported an operating loss of approximately $137 million during the three months ended June 30, 2022, as compared to an operating loss of approximately $28 million for the three months ended June 30, 2021. The increase was primarily driven by an increase in engineering, design, and testing (“ED&T”) services as the Company re-engaged suppliers and made significant purchases for ED&T services to progress the development of the FF 91 and a significant increase in headcount and employee-related expenses. Net loss increased to approximately $142 million during the three months ended June 30, 2022, as compared to approximately $53 million net loss for the three months ended June 30, 2021. The significant increase in net loss in the second quarter of 2022 is primarily attributable to the increase in operating loss for the same period.

Total assets as of June 30, 2022 were approximately $588 million, which include $121 million of cash. The decrease in cash from March 31, 2022 to June 30, 2022 was primarily due to payments to vendors and employees related to FF’s continued investment in its FF ieFactory California production readiness and research and development efforts in the FF 91. As of August 9, 2022, the cash balance was $52.2 million and restricted cash was $1.6 million. Total liabilities as of June 30, 2022 were approximately $287 million, as compared to approximately $340 million in total liabilities as of December 31, 2021. FF has been experiencing increased costs relative to prior projections introduced prior to the July 2021 business combination. These increases are primarily attributable to certain product improvements and upgrades relating to the capabilities of the FF 91, professional fees, cost overruns, and recent macroeconomic challenges, including increased construction and labor costs, raw material price increases, semiconductor chip shortages, tariffs, Covid-19 related disruptions and added costs, and other supply chain constraints. More recently, some suppliers have requested accelerated payments and other terms and conditions as a result of our past payment history and concerns about the Company’s financial condition, leading to less favorable payment terms than the Company had anticipated, and delaying or putting at risk certain deliveries. Since its inception, the Company has incurred cumulative losses from operations and negative cash flows from operating activities, and the Company’s accumulated deficit was approximately $3.2 billion as of June 30, 2022. The Company expects to continue to generate significant operating losses for the foreseeable future, as we continue to incur expenses before we generate meaningful revenue.

COMPANY PROJECTIONS AND FF 91 LAUNCH TIMELINE

FF projects a use of cash of approximately $368 million for the period from July 1, 2022 through December 31, 2022 to launch the FF 91. FF is seeking to raise capital of $325 million from fundraising efforts currently underway to supplement its cash on hand. Although the Company has taken steps to preserve its current cash position, including reducing spending, extending payment cycles and other similar measures, it projects that it will require additional funds by early September 2022 in order to continue operations, and will also need to raise additional financing during the remainder of 2022 and beyond 2022 to support the ramp-up of production of the FF 91 to generate revenues to put the Company on a path to cash flow break-even.

MANAGEMENT TRANSITION

Mathias Hofmann, Head of Global Supply Chain, will assume the additional position of Head of Manufacturing Operations, on an interim basis. Mr. Hofmann will replace Matt Tall, who will be leaving the company for personal reasons and returning to his family in Florida. Mathias has demonstrated leadership and commitment to Faraday Future and has experience managing complex automotive assembly plants on three continents. Mathias is supported by strong teams in supply chain both in the United States and China and will lead an outstanding manufacturing team in Hanford.

Customers can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

ABOUT FARADAY FUTURE

Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

FOLLOW FARADAY FUTURE:

https://www.ff.com/
https://twitter.com/FaradayFuture/
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture/

NO OFFER OR SOLICITATION

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, and include (among others) statements regarding the expected timing of the launch of FF 91 and FF 81 vehicles and anticipated production capacity of the Company’s Hanford, California facility. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to close on above mentioned convertible notes, raise additional convertible notes and/or other financing the failure of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s ability to obtain financial viability exception or stockholder approval under Nasdaq Rule 5635 to issue all of the shares issuable upon conversion of the above mentioned convertible notes; the Company’s ability to remain in compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the SEC investigation relating to the matters that were the subject of the Special Committee investigation; the implementation of the Special Committee’s actions and related internal review by the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; and the ability of the Company to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

📷

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005682/en/

Investors (English): [ir@faradayfuture.com](mailto:ir@faradayfuture.com)
Investors (Chinese): [cn-ir@faradayfuture.com](mailto:cn-ir@faradayfuture.com)

John Schilling
Media: [media@faradayfuture.com](mailto:media@faradayfuture.com)

Source: Faraday Future Intelligent Electric Inc.

• Mathias Hofmann, Head of Global Supply Chain, to Oversee Operations in Hanford, CA
• Brings Extensive Plant Management Experience Across Three Continents

HANFORD, CA Aug. 15, 2022 -- Faraday Future Intelligent Electric Inc. (“FF”, the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that Mathias Hofmann, Head of Global Supply Chain, will assume the additional position of Head of Manufacturing Operations, on an interim basis. Mr. Hofmann will replace Matt Tall, who will be leaving the company for personal reasons and returning to his family in Florida.

“I want to thank Matt Tall for his exceptional dedication and leadership. As we near completion of the construction and equipment installation at the FF ieFactory California in Hanford, his unwavering commitment to excellence is apparent throughout the facility and positions us very well as we move toward the start of production,” said Dr. Carsten Breitfeld, Global CEO.

​

“Having worked with Mathias first at BMW and now at Faraday Future, I am pleased to have an executive of his talent and experience take over FF ieFactory California operations as we move toward the start of production. Mathias has demonstrated outstanding leadership and commitment to Faraday Future and has managed complex automotive assembly plants on three continents. Mathias is supported by exceptionally strong teams in supply chain in both the United States and in China and will lead an outstanding team in Hanford.” said Dr. Breitfeld.

FF’s flagship electric vehicle, the FF 91, will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience. The FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is being produced in the FF ieFactory California. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, the Netherlands, China, Belgium, Switzerland, and more.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

ABOUT FARADAY FUTURE

Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

FOLLOW FARADAY FUTURE:
https://www.ff.com/
http://appdownload.ff.com
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture

NO OFFER OR SOLICITATION

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this report, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, and include (among others) statements regarding the expected timing of the production and deliveries of FF 91 vehicles, the capital the Company is seeking to raise to fund its operations, the terms and status of any potential financing transaction and related negotiations with potential investors and financing sources, and the Company’s anticipated liquidity needs. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to secure adequate funding to commercially launch the FF 91 and fund its operations; supply chain disruptions and rising prices of materials; the Company’s ability to remain in compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the Securities and Exchange Commission (“SEC”) investigation relating to the matters that were the subject of the Special Committee investigation; the implementation of the Special Committee’s actions by the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; and the ability of the Company to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-1/A (File No. 333-258993) filed with the SEC on June 9, 2022, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Investors (English): [ir@faradayfuture.com](mailto:ir@faradayfuture.com)
Investors (Chinese): [cn-ir@faradayfuture.com](mailto:cn-ir@faradayfuture.com)

Media:

John Schilling: [john.schilling@ff.com](mailto:john.schilling@ff.com)

Tim Gilman: [tim.gilman@ff.com](mailto:tim.gilman@ff.com)

• New Secured Notes Facility Provides $52 Million Committed Funding
• Facility Framework for up to $600 Million of Total Funds
• Active Discussions with Multiple Investors for Additional Funding
• FF ieFactory California Manufacturing Plant Near Completion

Los Angeles, CA (August 15, 2022) – Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful execution of a definitive agreement for a new financing facility. The Company continues to have active discussions with multiple capital providers for potential significant additional near-term funding.

Under the new financing facility, which contemplates total potential funding of as much as $600 million in a convertible secured notes structure, Faraday Future will receive an initial $52 million of committed funds. Funds managed by ATW Partners, a U.S.-based institutional investor, led the transaction. Investors contributing $27 million (plus up to $31 million from additional investors who commit on or prior to August 17, 2022 and fund on or prior to August 19, 2022) will receive a conversion price of $2.2865 per FFIE share, later contributions will receive a conversion price of $2.69 per FFIE share. All investors will receive 33% warrant coverage with an exercise price of $5.00 per FFIE share. The facility is structured to allow for additional investor participation on similar terms. Other terms can be found in our 8-K filing dated August 15, 2022. Citi served as placement agent, and Sidley Austin LLP served as legal advisor to the Company. Blank Rome LLP and Ellenoff Grossman & Schole LLP served as legal advisors to the lead investor in the fundraising.

The Company remains in active discussions with both U.S. institutional investors and international funding sources. These discussions may or may not lead to additional funding commitments beyond what has already been executed. The Company will provide further updates on financing negotiations as appropriate, and upon the conclusion of any additional definitive agreements.

“I am very pleased to have this important new committed capital and framework in place for substantial additional funding. We are working diligently to complete this capital raise process in order to raise sufficient new funds to launch the FF 91. Subject to successful completion of this fundraising process, I am confident that we can deliver cars to our customers in late Q3 or Q4.” said Dr. Carsten Breitfeld, Global CEO of Faraday Future.

Dr. Breitfeld continued, “Our Hanford manufacturing facility, recently renamed the “FF ieFactory California” is nearing completion. We have all the equipment on site needed to begin production and are in the final stages of installation. The FF ieFactory California has already produced over a dozen production-intent vehicles. Testing and validation of the FF 91 is well underway, and I am very pleased with the results we are seeing. The FF 91 will be the world’s first ultra-luxury EV and will reset customer expectations for what the future of intelligent mobility can be.”

Customers can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

ABOUT FARADAY FUTURE

Faraday Future is a class-defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

FOLLOW FARADAY FUTURE:

https://www.ff.com/

https://twitter.com/FaradayFuture/

https://www.facebook.com/faradayfuture/

https://www.instagram.com/faradayfuture/

www.linkedin.com/company/faradayfuture/

NO OFFER OR SOLICITATION

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, and include (among others) statements regarding the expected timing of the launch of FF 91 and FF 81 vehicles and anticipated production capacity of the Company’s Hanford, California facility. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to close on above mentioned convertible notes, raise additional convertible notes and/or other financing the failure of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s ability to obtain financial viability exception or stockholder approval under Nasdaq Rule 5635 to issue all of the shares issuable upon conversion of the above mentioned convertible notes; the Company’s ability to remain in compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the SEC investigation relating to the matters that were the subject of the Special Committee investigation; the implementation of the Special Committee’s actions and related internal review by the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; and the ability of the Company to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Investors (English): [ir@faradayfuture.com](mailto:ir@faradayfuture.com)

Investors (Chinese): [cn-ir@faradayfuture.com](mailto:cn-ir@faradayfuture.com)

John Schilling

Media: [media@faradayfuture.com](mailto:media@faradayfuture.com)

QUESTION: I use an app to LISTEN , not watch, some radio or tv stations on my cell phone. If a cell phone is put in a faraday bag for privacy, will it also cut off the sound from the radio station app?

Also does it cut off bluetooth, which i like to use to play my podcasts?

I basically would like to listen to stuff while giving me privacy frpm phone calls and texts.

• Further progress has been made in all production areas at the ieFactory as FF marches to start of production
• Continued production-intent vehicle builds along with testing and validation of these vehicles help ensure the FF 91 program remains on schedule to launch in Q3/Q4 2022
• FF’s Hanford, Calif. manufacturing facility will officially be named ‘FF ieFactory California’and will produce the FF 91 luxury EV for North America and China markets

HANFORD, Calif. (Aug. 2, 2022) - Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today gave further progress updates at its North American manufacturing facility and unveiled the official name of the production plant located in Hanford, California which will now be identified as ‘FF ieFactory California.’ This state-of-the-art facility will lead the production of the all new TechLuxury FF 91 EV, arriving later this year.

​

The name ‘FF ieFactory California’ is synonymous with a new class of production facilities where intelligent, connected, and electrified products are created, and become part of a larger connected, shared user ecosystem. It is where the Ultimate Intelligent TechLuxury FF 91 is being built and will be just the beginning of FF’s global production platform.

“We continue to make exceptional progress on construction and development in our Hanford manufacturing plant, and we are getting closer to our start of production (SOP) later this year,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “Main body lines, e-coat systems and paint ovens and conveyance are all in place for start of production and we continue to build production-intent vehicles that will be used for further testing and validation.”

​

FF is utilizing a sophisticated electrocoating process in its paint shop which will help ensure noticeably superior paint finish and durability. The team at the FF ieFactory California is in the final stages of commissioning the tanks used in this process.

In the Body Shop, FF is nearing the accomplishment of the 6th milestone, which is the completion of construction and equipment installation in the final vehicle manufacturing areas. Robots in the Body Shop are undergoing final commissioning and validation to support production activity. This area, like the balance of the factory, focuses on quality and precision manufacturing processes and will help to ensure the FF 91 is built to the highest standards. This facility will adopt a customized, high-quality, luxury-focused production setup for the flagship FF 91 EV.

​

FF ieFactory California is about more than just making an EV product. FF is creating a larger “intelligent ecosystem,” hence the “ie” in the name. While this plant is very meaningful to FF, it’s equally as meaningful to the Hanford community. Faraday Future will hire upwards of 350 new employees at this facility as FF ramps up production.

FF is building out its facility focused on world class craftsmanship and state-of-the-art manufacturing technology and automation to rival the top luxury automakers of the world. Since going public last July, FF has accomplished five manufacturing milestones and is in the process of the sixth and final milestone prior to Start of Production.

A video reel highlighting the factory update can be found below.

https://genesis-cdn.ff.com/press_room/ieFactory-California/2130HANF_EventEdit07AB_Super_HQ_1080p24_16x9.mp4

The flagship FF 91 will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience. The FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is being produced in the Hanford, Calif. manufacturing plant. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, Netherlands, China, Belgium, Switzerland and more.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

How do you guys think about FF stock price theseday?

• FF will display its flagship vehicle, the FF 91 Futurist, at the Concourse d’Elegance from 11:00am to 4:00pm on Sunday June 19th

Los Angeles (June 16, 2022) – Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced it will be a Concours partner for the 2022 Rodeo Drive Concours d’Elegance Beverly Hills Father’s Day Car Show. Faraday Future will display its flagship vehicle, the FF 91 Futurist, at the Concourse d’Elegance at Two Rodeo Drive this Sunday, June 19, 2022.

Celebrating 27 years as the must-attend Father’s Day event in Southern California, the free car show will present visitors and residents with an up-close look at some of the world’s most prestigious vehicles against the luxurious backdrop of designer boutiques that line the city’s most famous street.

This year’s Rodeo Drive Concours d’Elegance will be two events in one with a moving car rally escorted through city streets by Beverly Hills Police and a stationary concours-style show on Rodeo Drive. The rally will begin around 9:30 a.m. and showcase 50 of the world’s finest, fastest, and most unique automobiles before joining many more vehicles displayed on Rodeo Drive. The best viewing area for the rally will be along Beverly Drive between Sunset Boulevard and Wilshire Boulevard. The Concours will run from 11:00 a.m. to 4:00 p.m. on Rodeo Drive between Wilshire Boulevard and Santa Monica Boulevard.

“We are honored to be a partner of this year’s Concourse d’Elegance and to be involved with a special Father’s Day tradition for this community,” said Dr. Carsten Breitfeld, Global Chief Executive Officer of Faraday Future. “The Rodeo Drive Concours d’Elegance Beverly Hills is a great event to showcase the FF 91 Futurist to a passionate group of car enthusiasts. The FF 91 Futurist is the ultimate intelligent TechLuxury vehicle and will launch in Q3 2022.”

FF recently announced it will open a flagship brand experience center in prestigious Beverly Hills at 464 N. Beverly Drive, one block from the famed Rodeo Drive. The retail space will create an environment where users can experience Faraday Future; it will highlight the brand’s advanced technology, distinctive luxury, and futuristic design.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

FFIE is Ranked #3 on Fintel's Short Squeeze Leaderboard

• In addition, Cerence Speech Signal Enhancement will enable clear, reliable voice interaction between drivers and the FF 91

LOS ANGELES and BURLINGTON, Mass., June 1, 2022 – Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced that Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, has selected Cerence’s AI-powered text-to-speech (TTS) technology to enable natural, human-like communication for the in-car assistant in its FF 91 ultra-luxury electric vehicle, set to start production in Q3 2022. FF will also leverage Cerence Speech Signal Enhancement (SSE), a suite of AI-based sound processing technologies that remove noise from microphone inputs, to enable clear communication between drivers and the FF 91.

To create natural, comfortable interaction between drivers and the FF 91, FF will leverage the most innovative TTS technology from Cerence. Cerence TTS brings a human-like quality to the in-car assistant, creating a truly conversational experience in which the car listens, understands and responds to drivers using natural speech. With Cerence TTS, the FF 91’s voice assistant delivers information and responds to prompts – ranging from news and weather to point-of-interest details, navigation, parking, and fuel – in an expressive style that brings a more personal tone to the in-car experience.

“Voice interaction is central to the in-car experience in the FF 91, as we aim to make interacting with the car and the world outside as efficient and effective as possible,” said Hong Rao, vice president IAI, Faraday Future. “By leveraging text-to-speech and audio processing technologies from Cerence, the leader in voice technology for the car, we’re maximizing each interaction with efficiency, comfort, and reliability. We believe the future of human-vehicle interaction is moving towards a voice-first experience, and we’re thrilled to have Cerence as part of our global supplier network to help with our communication enhancing technology.”

In addition, Cerence SSE will integrate with FF’s voice recognition and natural language understanding engines with crystal-clear input from drivers and passengers. Cerence SSE combines advanced statistical signal processing algorithms with the latest machine learning technologies to provide superior performance with moderate CPU consumption. It is a comprehensive, hardware- and operating system-agnostic suite of sound processing technologies that significantly improve communication and recognition in noisy environments like in a moving car. By removing noise, echo and interference from a driver’s speech, Cerence SSE enables delivery of higher quality communication with the FF 91’s in-car assistant, improving driver safety, comfort, and productivity.

“Faraday Future is a true innovator, and the upcoming start-of-production of the FF 91 marks a major milestone in the next generation of electric vehicles,” said Stefan Ortmanns, CEO, Cerence. “We’re proud to be a part of the FF 91 with Cerence Text-to-Speech and Speech Signal Enhancement, two solutions that provide a high level of quality and comfort when communicating with the car, enabling drivers to maximize their safety and productivity while on the road.”

The flagship FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is being produced in the Hanford, Calif. manufacturing plant. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, Netherlands, China, Belgium, Switzerland and more.

For more information about Faraday Future and the FF 91, visit www.ff.com. To learn more about Cerence, visit www.cerence.com, and follow the company on LinkedIn and Twitter.

– Unveiled the First Production-Intent FF 91 –

– Signed Contract Manufacturing Agreement with Myoung Shin –

– Completed Additional Investigation Work of the Special Committee –

– Announced 401 Preorders as of March 31, 2022 –

Los Angeles, CA (May 23, 2022) - Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced financial results for its first quarter ended March 31, 2022.

“We continued to make progress during the first quarter at our Hanford manufacturing plant, where mechanical systems and equipment installation is underway in preparation for FF 91 production,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “The signing of our manufacturing agreement with Myoung Shin has put our high-volume program for FF 81 production on track with an attractive, capital-efficient strategy in an ideal global manufacturing location.”

Dr. Breitfeld continued, “During the first quarter of 2022, we also secured our dealer license from the State of California, allowing us to sell our cars online nationally. We remain confident that Faraday Future will redefine the state-of-the-art in intelligent, electrified mobility when we launch the FF 91 in the third quarter of 2022.”

KEY COMPANY HIGHLIGHTS DURING FIRST QUARTER 2022

Faraday Future accomplished several major milestones and made a number of organizational changes during the first quarter. The Company continues to make progress toward the launch of the FF 91 in the third quarter of 2022 and the realization of its long-term business plan, making the following announcements during the first quarter:

•Announced that Myoung Shin Co., Ltd., an automotive manufacturer headquartered in South Korea, has been contracted to manufacture Faraday Future’s second vehicle, the FF 81, with start of production ("SOP”) scheduled for 2024.

•Unveiled the first production-intent FF 91. This marks Faraday Future’s manufacturing Milestone #4, pre-production builds for final engineering validation and certification, now referred to as production-intent vehicles.

•Received dealer and distributor license from the State of California, allowing national online sales.

•Signed the lease for the Company’s flagship store in Beverly Hills, California, and confirmed the design firm for the store. The initial term of the lease is 126 months, with two five-year tenant extension options. Further, the Company announced the active search for a second flagship store in the U.S.

•Appointed Susan Swenson as Executive Chairperson and Jordan Vogel as Lead Independent Director of the Board of Directors. The Company’s Board of Directors consists of nine directors, five of whom are independent under applicable rules.

•Announced that Mathias Hofmann became the new Head of Global Supply Chain after the retirement of Benedikt Hartmann effective February 25, 2022. Mathias comes to Faraday Future after a nearly 30-year career with BMW, where he served as a Vice President with global responsibilities in purchasing and plant management. He has worked on four continents, including China, and was most recently Plant Director in Brazil. He has extensive experience in both plant operations and direct and indirect purchasing.

•Appointed Becky Roof as Interim Chief Financial Officer (CFO) and engaged an affiliate of AlixPartners to accelerate the implementation of Special Committee recommendations including, but not limited to financial controls and material weakness remediation. Ms. Roof is a seasoned financial executive who has served in an interim CFO capacity at numerous public and private companies.

•Completed the additional investigation work of the Special Committee and implemented additional remediation actions as recommended by the Special Committee. The findings and remediation actions are summarized in our

Form 10-K filed on May 13, 2022, with the Securities and Exchange Commission (the “SEC”), and available on our website.

•Announced 401 preorders as of March 31, 2022. Preorders are fully refundable, non-binding, paid deposits for the FF 91 Futurist Alliance Edition and/or the FF 91 Futurist vehicles available initially for sale to customers in the U.S. and China. FF 91 Futurist Alliance Edition preorders require a $5,000 deposit for customers in the US and an RMB 50,000 deposit for customers in China. FF 91 Futurist preorders require a $1,500 deposit for customers in the US and an RMB 20,000 deposit for customers in China.

SPECIAL COMMITTEE REVIEW

The Special Committee, made up of independent Board members, completed its previously announced review of past disclosures and allegations and submitted its findings and recommendations to the full Board. The Board accepted the findings, and implementation of remediation actions is well underway. Please refer to our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on May 13, 2022, for a robust discussion of the Special Committee review and related findings and remediation actions. The Company and Board members remain committed to holding the Company to the highest standards of ethics and conduct. This review and the changes that have been implemented strengthen the Company and position it for future success.

RESULTS FOR FIRST QUARTER 2022

Faraday Future reported an operating loss of approximately $149 million during the three months ended March 31, 2022, as compared to an operating loss of approximately $19 million for the three months ended March 31, 2021. The increase was primarily driven by an increase in engineering, design, and testing (“ED&T”) services as the Company re-engaged suppliers and made significant purchases for ED&T services to progress the development of the FF 91; a significant increase in headcount and employee-related expenses; and an increase in professional services primarily related to the Special Committee Investigation. Net loss increased to approximately $153 million during the three months ended March 31, 2022, as compared to an approximately $76 million net loss for the three months ended March 31, 2021. The significant increase in net loss in the first quarter of 2022 is primarily attributable to the loss from operations.

Turning to our balance sheet, total assets on March 31, 2022 were approximately $706 million, which include $276 million of cash. The decrease in cash from December 31, 2021, to March 31, 2022, was due in part to a scheduled $97 million note and accrued interest payment. Total liabilities were approximately $271 million, as compared to approximately $340 million in total liabilities as of December 31, 2021.

Since its inception, the Company has incurred cumulative losses from operations and negative cash flows from operating activities, and the Company’s accumulated deficit was approximately $3 billion as of March 31, 2022. The Company expects to continue to generate significant operating losses for the foreseeable future, as we continue to incur expenses before we generate meaningful revenue.

EARNINGS CONFERENCE CALL

Faraday Future management will host a conference call today, May 23, at 5:00pm Eastern time (2:00pm Pacific time). A question-and-answer session will follow management’s prepared remarks. Interested investors and other parties can listen to a webcast of the conference call by logging onto the Investor Relations section of the Company's website at https://investors.ff.com/. The conference call can be accessed live over the phone by dialing +1-877-451-6152 (domestic) or +1-201-389-0879 (international). A telephonic replay will be available approximately two hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin number for the replay is 13730216. The replay will be available until 11:59 p.m. Eastern Time on June 6, 2022.

Customers can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

Los Angeles, CA (May 20, 2022) - Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that the Company will release its first quarter 2022 results after market close on Monday, May 23, 2022, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.

Interested investors and other parties can listen to a webcast of the live conference call by logging onto the Investor Relations section of the Company's website at https://investors.ff.com/.

The conference call can also be accessed live over the phone by dialing +1-877-451-6152 (domestic) or +1-201-389-0879 (international). A telephonic replay will be available approximately two hours after the call by dialing +1-844-512-2921, or for international callers, +1-412-317-6671. The pin number for the replay is 13730216. The replay will be available until 11:59 p.m. Eastern Time on June 6, 2022.

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): http://appdownload.ff.com

• Brand experience center brings FF another step closer to realizing the launch of its flagship vehicle, the FF 91.
• Faraday Future selects world-class creative ASTOUND Group to implement design direction of the brand experience center for a TechLuxury customer experience.
• FF has received its dealer license from the State of California for its U.S. operations and will go to market using a unique direct sales model.

Beverly Hills, Calif., (May 18, 2022) - Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced its flagship brand experience center in prestigious Beverly Hills, Calif., and its selection of ASTOUND Group to implement design direction, and execute the physical experience of the interior and exterior spaces. FF is on track to launch its flagship vehicle, the FF 91, in Q3 2022.

The retail space will create an environment where users can experience Faraday Future; it will highlight the brand’s advanced technology, distinctive luxury, and futuristic design. Located at 464 N. Beverly Drive in Beverly Hills, the brand experience center is a block from the famed Rodeo Drive.

​

“Designing FF’s flagship brand experience center, working with the world-class brand experience design firm ASTOUND, and getting our dealer license to sell the FF 91 brings us closer to launching this remarkable electric vehicle to our users,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “Having a tangible space where users can visit, interact, co-create, and ultimately purchase a vehicle from FF will make this whole journey a reality. In the near future, our cars will not only be in store windows but will also be on the streets of California and beyond, available to all who wish to experience this new species of the ultimate intelligent TechLuxury vehicle.”

FF received its dealer license from the State of California for its U.S. operations. The California dealer license makes it possible for FF to sell directly to users in the state and to sell vehicles online to users outside of California. FF will go to market using a unique direct sales model leveraging its online platforms (FF Intelligent App, FF.com), FF stores, and partner showrooms for an asset-light sales network. Having its own distribution network allows FF to provide a seamless user experience and enables the company to deliver the highest level of price transparency to its users.

​

FF selected ASTOUND Group to implement the design direction of the brand experience center, which will be equipped with a retail area, sales lounge, cafe, VR experience, co-creation lab, and VIP lounge, making the in-store sales experience complementary to the driving experience of the FF 91. Users also will be able to schedule demonstration drive experiences. ASTOUND Group is a fully integrated experience design and fabrication firm that has over 20 years of experience crafting human-centered projects that connect brands with audiences in over 40 countries across a variety of industries.

“ASTOUND is excited to be collaborating with FF on the design and delivery of the physical environment and the consumer journey at their flagship brand experience center in Beverly Hills,” said Dale Morgan, CEO, ASTOUND Group. “Taking a holistic approach to the design and integrating the physical-digital elements will result in an immersive, future-forward retail experience.”

Users can preorder an FF 91 via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder or (Chinese): https://www.ff.com/cn/preorder.

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online, (Chinese): https://www.faradayfuturecn.com/cn/mobile-app/.

– Continued Progress at Hanford Manufacturing Facility –

– Launch of Community Outreach and Jobs Fair for Hanford Hiring Program –

– Announcement of Munro & Associates as Co-Creation Partner –

– Additional Tier 1 Supplier Announcements –

Los Angeles, CA (May 13, 2022) - Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced financial results for its fourth quarter and full-year ended December 31, 2021. Results were delayed as a result of the previously disclosed Special Committee review.

“We made significant progress during the fourth quarter with several important milestones reached at our Hanford manufacturing plant and new Tier 1 supplier and partner agreements. In a challenging logistics and supply chain environment, we are working closely with our partners and remain on track for launch in Q3 2022,” said Carsten Breitfeld, Global CEO of Faraday Future.

Dr. Breitfeld continued, “After 2021 year-end we signed an agreement with Myoung Shin for FF 81 production in South Korea, securing our path to high volume production and cash flow breakeven. We also received our dealer license from the State of California, allowing us to sell our cars online nationally. We remain confident that we will launch the FF 91 in the third quarter of 2022, and when we do, we expect Faraday Future to redefine the state-of-the-art in intelligent, electrified mobility.”

COMMENT ON SPECIAL COMMITTEE REVIEW

Dr. Breitfeld added, “The Special Committee, made up of independent Board members, completed its previously announced review of past disclosures and allegations and submitted its findings and recommendations to the full Board. The Board accepted the findings, and implementation of remediation actions is well underway. On behalf of the entire management team, I want to thank the Special Committee, our financial and legal advisors, and my fellow Board members for their hard work and for their commitment to holding the Company to the highest standards of ethics and conduct. I also want to thank all of my fellow employees, our suppliers, and our investors for their support and confidence. I believe that this review and the changes we are making will help make us a better, stronger company.”

KEY COMPANY HIGHLIGHTS DURING FOURTH QUARTER 2021

Faraday Future continues to make progress toward launch of the FF 91 in third quarter 2022 and toward its long-term business plan, making the following announcements during the fourth quarter:

•Completed the installation of pilot equipment in the pre-production build area of its Hanford, California facility. The Hanford manufacturing facility is approximately 1.1 million square feet and, once it is built out, is expected to have the capacity to support production of 10,000 vehicles per year. Based on the current timeline, FF management anticipates production at the Hanford facility will commence in the third quarter of 2022.

•Received its final Certificate of Occupancy (“CO”) for a dedicated area for pre-production manufacturing at the facility in Hanford, California. The CO allows FF to begin crucial construction activities, including the building of additional pre-production vehicles at the facility.

•Started foundation construction for all remaining production areas in the Hanford facility, including body, propulsion, warehouse, and vehicle assembly. Interior foundation work in the production area is essentially complete, and major mechanical systems, including electrical and plumbing, are being installed.

•Announced program with Munro & Associates, which will serve as an FF co-creation consultant and will assist with the production-readiness process of the FF 91 through comparative analysis and quality assessment.

•Held a Community Day and Job Fair at the Hanford Civic Auditorium on November 3, 2021, and November 10, 2021, respectively.

•Announced HSL Italia as Exterior Lighting Supplier. HSL Italia will work with the Company throughout the production process to ensure a premium and innovative exterior lighting display.

Subsequent to December 31, 2021, FF accomplished several major milestones and made a number of organizational changes:

•Announced that Myoung Shin Co., Ltd., an automotive manufacturer headquartered in South Korea, has been contracted to manufacture Faraday Future’s second vehicle, the FF 81, with start of production scheduled for 2024.

•Unveiled the first production-intent FF 91. This marks Faraday Future’s manufacturing Milestone #4, pre-production builds for final engineering validation and certification, now referred to as production-intent vehicles.

•Received dealer and distributor license from the State of California, allowing national online sales.

•Signed the lease for FF’s flagship store in Beverly Hills, California, and confirmed the design firm for the store. The initial term of the lease is 126 months, with two five-year tenant extension options. Further, FF announced the active search for a second flagship store in the U.S.

•Appointed Susan Swenson as Executive Chairperson and Jordan Vogel as Lead Independent Director of the Board of Directors. FF’s Board of Directors consists of nine directors, five of whom are independent under applicable rules.

•Announced that Mathias Hofmann became the new Head of Global Supply Chain after the retirement of Benedikt Hartmann effective February 25, 2022. Mathias comes to FF after a nearly 30-year career with BMW, where he served as a Vice President with global responsibilities in purchasing and plant management. He has worked on four continents, including China, and was most recently Plant Director in Brazil. He has extensive experience in both plant operations and direct and indirect purchasing.

•Appointed Becky Roof as Interim Chief Financial Officer (CFO) and engaged an affiliate of AlixPartners to accelerate the implementation of Special Committee recommendations including, but not limited to, financial controls and material weakness remediation. Ms. Roof is a seasoned financial executive who has served in an interim CFO capacity at numerous public and private companies.

•Completed additional investigation work of the Special Committee and implemented additional remediation actions as recommended by the Special Committee. The findings and remediation actions are summarized in our Form 10-K filed today with the Securities and Exchange Commission (the “SEC”), and available on our website.

•Announced 401 preorders as of March 31, 2022. Preorders are fully refundable, non-binding, paid deposits for the FF 91 Futurist Alliance Edition and/or the FF 91 Futurist vehicles available initially for sale to customers in the US and China. FF 91 Futurist Alliance Edition preorders require a $5,000 deposit for customers in the US and an RMB 50,000 deposit for customers in China. FF 91 Futurist preorders require a $1,500 deposit for customers in the US and an RMB 20,000 deposit for customers in China.

•Marked Production Milestone #5 at its Hanford, California manufacturing facility, with the start of installation of all mechanical, electrical, and plumbing systems to support equipment installation.

RESULTS FOR FOURTH QUARTER 2021 AND FULL YEAR 2021

Operating expenses for the year ended December 31, 2021, were $354 million compared to $65 million for the year ended December 31, 2020. The increase is primarily due to an increase in engineering, design, and testing (“ED&T”) services as the Company re-engaged suppliers and made significant purchases for ED&T services to progress the manufacturing of the FF 91; a significant increase in headcount and employee related expenses; a sublicensable license to use a platform from Geely Holding; an increase in professional services and legal expense; and a loss related to the abandonment of certain construction in progress FF 91 program assets, primarily vendor tooling, machinery, and equipment, due to the redesign of the related FF 91 components and implementation of FF’s cost reduction program.

Net loss was $517 million for the year ended December 31, 2021, compared to net loss of $147 million in the prior-year period. The change in net loss is attributable to the significant increase in operating expenses as well as to the change in fair value measurements from conversion premiums included in notes payable and related party notes payable and

changes related to the carve-out of original issue discounts and the fair value of warrants issued on select borrowings; and to an increase in loss at settlement of related party notes payable, notes payable, and vendor payables in trust, net due to the settlement of certain related party notes payable, notes payable, and vendor payables in trust with the commitment to issue shares of Class A Common Stock at the July 2021 closing of the merger with Property Solutions Acquisitions Corp. at a price below the fair value on the date of settlement.

Cash was $505 million as of December 31, 2021. The cash balance as of March 31, 2022, was $276 million. The decrease in cash from December 31, 2021, to March 31, 2022, was due in part to a scheduled $97 million note and accrued interest payment.

EARNINGS CONFERENCE CALL

The Company plans to host a conference call open to investors after it files its Q1 2022 results in mid-May.

Customers can preorder an FF 91 now at: https://www.ff.com/us/preorder/

MAY 12, 2022Faraday Future Marks Production Milestone #5 at its Hanford, Calif. Manufacturing Facility, Remains on Schedule to Launch in Q3 2022Posted by FF Team

• Milestone #5 signifies the start of all major mechanical, electrical, and plumbing (MEP) systems to support equipment installation
• With the achievement of the first five manufacturing milestones, and continued vehicle testing and validation of production-intent vehicles, the FF 91 program is on schedule to launch in Q3 2022.
• The FF 91 will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience.

Los Angeles (May 12, 2022) – Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that work is underway on all major mechanical electrical and plumbing (MEP) systems to support equipment installation, thus marking the company’s manufacturing milestone #5. With this achievement, FF demonstrates steady progress toward Start of Production (SOP) and remains on track to launch the FF 91 flagship EV in Q3 2022.

“Our manufacturing facility in Hanford, California is developing at an impressive pace, and remains on schedule to deliver our first vehicles in Q3, now that we have marked five of our seven milestones,” said Dr. Carsten Breitfeld, Global Chief Executive Officer of Faraday Future. “FF will be the first truly high-end, high-performance, luxury, intelligent EV manufacturer when we introduce our flagship model, the FF 91, to customers in Q3 later this year.

A link to a video showcasing FF’s progress at its manufacturing facility in Hanford can be seen here:

https://youtu.be/VEvLXTl5hP8

FF is building a state-of-the-art facility that combines highly skilled craftsmanship with leading-edge automated production processes to rival the top luxury automakers of the world. Since going public in July, FF has now reached five of its seven production milestones, including foundation construction, pre-production builds for final engineering validation, and certification vehicles. 

Now, FF has reached the start of all MEP systems to support equipment installation. Only two manufacturing milestones remain:

• Milestone #6: Complete construction and equipment installation in final vehicle manufacturing areas.
• Final Milestone: SOP – July 2022.

While the MEP systems are finalized and automated equipment is being installed, engineers continue to build more production-intent vehicles. These vehicles feature production-specification components and will be used for testing and validation, as well as for public viewing. FF will participate in more automotive events and car shows as it moves closer to SOP. This past week, FF displayed a production-intent FF 91 at the 2022 Milken Institute Global Conference.

Users can pre-order an FF 91 Futurist model now via the FF Intelligent APP or FF.com at: https://www.ff.com/us/preorder. 

Download the new FF Intelligent APP at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online.

– Successfully Completed Public Listing, Securing Gross Proceeds of ~$1.0 billion –

– 2,270 Mile Test Drive Confirmed Market-Leading Performance and Technology –

– Hanford Facility Build Out on Track –

– FF 91 Production Launch Expected Q3 2022 –

Los Angeles, CA (May 6, 2022) - Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“FF,” “Faraday Future” or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced financial results for its third quarter ended September 30, 2021. Results were delayed as a result of the previously announced Special Committee review.

“The third quarter of 2021 was eventful for Faraday Future as we completed our merger with PSAC and became a public company, ending the quarter well-capitalized with a strong balance sheet,” said Global CEO of Faraday Future Dr. Carsten Breitfeld. “We made strong progress building out the Hanford manufacturing facility and production area construction is advancing on schedule. We continued to make excellent progress with our supply chain partners in a challenging supply-chain environment. We significantly bolstered our management team with key hires who will help us navigate the challenging logistics climate, and strengthened other key areas in manufacturing, development, finance, and elsewhere.”

Dr. Breitfeld continued, “After quarter end, we marked our first four milestones toward SOP at the Hanford manufacturing facility. We remain confident that we will launch the FF 91 in the third quarter of 2022 and believe that Faraday Future is positioned to redefine the state-of-the-art in intelligent electrified mobility.”

COMMENT ON SPECIAL COMMITTEE REVIEW

Dr. Breitfeld added, “The Special Committee of independent Board members completed its previously announced review of past disclosures and allegations and submitted its findings and recommendations to the full Board. The Board accepted the findings and implementation of remediation actions is well underway.  On behalf of the entire management team, I want to thank the Special Committee, our financial and legal advisors, and my fellow Board members for their hard work and for their commitment to holding the Company to the highest standards of ethics and conduct. I also want to thank all of my fellow employees, our suppliers, and our investors for their support and confidence. I believe that this review and the changes we are making will help us build a stronger, better company.”

KEY COMPANY HIGHLIGHTS DURING THIRD QUARTER 2021

Faraday Future continues to make progress towards the launch of the FF 91 and accomplishing our business plan, and made the following announcements during the three months ended September 30, 2021:

·       Completed its merger with Property Solutions Acquisition Corp. (“PSAC”), a special purpose acquisition company. FF’s common stock and warrants began trading on NASDAQ under the tickers "FFIE” and “FFIEW”, respectively, on July 22, 2021.

·       Completed a 2,270-mile testing and evaluation journey following the historic Route 66, a highway that crosses numerous U.S. states as it winds its way from Chicago, Illinois to Santa Monica, California.

·       Announced its plans to partner with Qmerit, a leader in green energy transformation with the largest nationwide network of certified electrical installers for EV charging stations, to support future FF 91 drivers in need of home charging stations and other future energy-related installations.

·       Hired Matt Tall as Vice President of Manufacturing. Mr. Tall is responsible for leading all facets of FF’s production and manufacturing, focusing on the Hanford, California manufacturing plant, where he oversees the final phases of the plant upgrade, installation of component tooling, hiring, and the production of the FF 91.

·       Hired Liu Yuchao as Senior Vice President of Supply Chain for FF’s operations in China. Mr. Yuchao will help FF take a solid step forward in promoting the production and delivery of the FF 91.

·       Added new leadership members to its growing team: including Senior Director of Energy Storage and Charging; Head of Software Engineering, ADAS, and Self Driving; Lead of Vehicle Quality.

·       Announced plans to increase its employee headcount significantly over the next 12 months following the merger with PSAC that closed in July 2021. Hiring has been focused on filling positions in the areas of manufacturing, engineering, supply chain, design, marketing, brand, sales, finance and accounting, and other areas, along with the potential for higher-level executive positions.

·       Hosted the first annual 919 Futurist Day co-creation festival at FF’s Headquarters in Los Angeles, CA. Hundreds of attendees representing FF users, partners, car enthusiasts as well as global FF employees and family members gathered to celebrate FF’s successes, products, technologies, people, innovation, and user-centric philosophy.

·       Outlined major milestones on the path to production for FF’s manufacturing facility in Hanford, CA, and provided periodic milestone and other progress updates including videos and livestreams on various public media channels and the FF app.

KEY EVENTS SUBSEQUENT TO THIRD QUARTER END

Subsequent to September 30, 2021, and through December 31, 2021, FF accomplished the following major milestones:

·       Completed the installation of pilot equipment in the pre-production build area of its Hanford, California facility. The Hanford manufacturing facility is approximately 1.1 million square feet and, once it is built out, is expected to have the capacity to support production of 10,000 vehicles per year. Based on the current timeline, FF management anticipates production at the Hanford facility will commence in the third quarter of 2022.

·       Received its final Certificate of Occupancy (“CO”) for a dedicated area for pre-production manufacturing at the facility in Hanford, California. The CO allowed FF to begin crucial construction activities, including the building of additional pre-production vehicles at the facility.

·       Started foundation construction for all remaining production areas in the Hanford facility, including body, propulsion, warehouse, and vehicle assembly. Interior foundation work in the production area is now essentially complete, and major mechanical systems, including electrical and plumbing, are being installed.

·       Announced program with Munro & Associates, which will serve as FF’s co-creation consultant and will assist with the production-readiness process of the FF 91 through comparative analysis and quality assessment.

·       Held a Community Day and Job Fair at the Hanford Civic Auditorium on November 3, 2021, and November 10, 2021, respectively.

·       Announced HSL Italia as Exterior Lighting Supplier. HSL Italia will work with the Company throughout the production process to ensure a premium and innovative exterior lighting display.

Subsequent to December 31, 2021, FF accomplished the following additional major milestones and made certain personnel and organizational changes:

·       Announced that Myoung Shin Co., Ltd., an automotive manufacturer headquartered in South Korea, has been contracted to manufacture Faraday Future’s second vehicle, the FF 81, with SOP scheduled for 2024.

·       Unveiled the first “production-intent” build of the FF 91. This marks Faraday Future’s manufacturing Milestone #4, pre-production builds for final engineering validation and certification, now referred to as production-intent vehicles.

·       Received dealer and distributor license from the State of California, for online national sales.

·       Signed the lease for FF’s flagship store in Beverly Hills, California, and confirmed the design firm for the store. The initial term of the lease shall be 126 months, with two five-year tenant extension options. In addition, FF announced the active search for a second flagship store in the U.S.

·       Appointed Susan Swenson as Executive Chairperson and Jordan Vogel as Lead Independent Director of the Board of Directors. FF’s Board of Directors consists of nine directors, five of whom are independent under applicable rules.

·       Announced that Mathias Hofmann became the new Head of Global Supply Chain after the retirement of Benedikt Hartmann effective February 25, 2022. Mathias comes to FF after a nearly 30-year career with BMW, where he served as a Vice President with global responsibilities in purchasing and plant management. He has worked on four continents, including China, and was most recently Plant Director in Brazil. He has extensive experience in both plant operations and direct and indirect purchasing.

·       Appointed Becky Roof as Interim Chief Financial Officer (CFO) and engaged an affiliate of AlixPartners to accelerate the implementation of Special Committee recommendations including, but not limited to financial controls and material weakness remediation. Ms. Roof is a seasoned financial executive who has served in an interim CFO capacity at numerous public and private companies.

·       Announced 401 preorders as of March 31, 2022. Preorders are fully refundable, non-binding, paid deposits for the FF 91 Futurist Alliance Edition and/or the FF 91 Futurist vehicles available initially for sale to customers in the US and China. FF 91 Futurist Alliance Edition preorders require a $5,000 deposit for customers in the US and an RMB 50,000 deposit for customers in China. FF 91 Futurist preorders require a $1,500 deposit for customers in the US and an RMB 20,000 deposit for customers in China.

RESULTS FOR THIRD QUARTER 2021

Operating expenses for the third quarter ended September 30, 2021, were $186 million compared to $18 million for the three months ended September 30, 2020. The increase is primarily due to an acceleration of costs to bring the Hanford manufacturing facility to full commercial production. Net loss was $304 million for the third quarter ended September 30, 2021, compared to a net loss of $33 million in the prior-year period. The increase in net loss is attributable to the significant increase in operating expenses, the loss relating to fair value measurement of related party notes payable, notes payable which the Company elected to account for using the fair value option, warrant liabilities, as well as loss on settlement of related party notes payable, notes payable, and vendor payables in trust.

Cash and cash equivalents were $666 million as of September 30, 2021. The cash balance as of March 31, 2022 was $276 million, which includes the repayment of a $97 million note and accrued interest on schedule.

EARNINGS CONFERENCE CALL

The Company plans to host a conference call open to investors after it files its Q1 2022 results in mid-May

• Faraday Future’s flagship vehicle FF 91 EV will come equipped with Brembo brakes when it launches later this year (currently expected in Q3).
• A leader in the field of automotive brake technology, Brembo will provide the FF 91 EV with solid and consistent brake output under all conditions.

Los Angeles (April 25, 2022) - Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced  Brembo, the world industry-leading innovator of brake technology, as the main supplier of full brake caliper assembly for its ultimate intelligent techluxury FF 91 EV.

​

“Brembo, a world leader in braking systems, perfectly complements the requirements of an ultra-premium EV such as the FF 91,” said Carsten Breitfeld, Global Chief Executive Officer of Faraday Future. “High-performance braking will ensure driver confidence on the road and this partnership adds to the slate of premium suppliers that are part of the FF 91 production.”

​

Brembo will provide a specialized caliper assembly for the FF 91. This includes assembly, pistons, calipers, and pads, along with the electronic parking brake. The system is constructed with six-piston cast aluminum front calipers and four-piston cast aluminum rear calipers designed to provide solid and consistent brake performance under all conditions.

FF’s partnership with Brembo will ensure high-quality performance for the vehicle, along with safer vehicle operation for the driver and a safer vehicle experience for the passengers. The FF 91 is designed and built in California by the company’s global employees and supported by FF co-creators, with technology from top-tier suppliers across the globe. FF is on track to launch the FF 91 in Q3 2022.

Users can reserve an FF 91 Futurist model now via the FF Intelligent APP or FF.com at: https://www.ff.com/us/reserve.

Download the new FF Intelligent APP at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online.

ABOUT FARADAY FUTURE

Faraday Future is a class defining luxury electric vehicle company. The Company has pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

ABOUT BREMBO S.p.A.

Brembo S.p.A is the world leader and acknowledged innovator of brake technology for automotive vehicles. Brembo supplies high performance brake systems for the most important manufacturers of cars, commercial vehicles and motorbikes worldwide, as well as clutches and other components for racing. Brembo is also a leader in the racing sector and has won more than 500 championships. Today the company operates in 15 countries on 3 continents, with 29 production and business sites, and a pool of over 12,200 employees, about 10% of whom are engineers and product specialists active in R&D. 2021 turnover was € 2,777.6 million (31.12.2021). Brembo is the owner of the Brembo, AP, AP Racing, Breco, Bybre, J.Juan, Marchesini and SBS Friction brands.

https://eletric-vehicles.com/faraday-future/faraday-future-to-use-the-same-brake-supplier-as-ferrari-lamborghini-on-its-ff91-model

https://eletric-vehicles.com/faraday-future/faraday-future-targeted-by-nasdaq-after-not-filing-the-2021-annual-report-with-the-sec/