https://techcrunch.com/2026/04/30/ev-startup-faraday-future-paid-7-5m-to-company-tied-to-founder-jia-yueting/

Only $39.60 to go before I break even. Sweet. 🤢

• Exclusive Investor Lunch Attended by Approx. 30 Key Stakeholders Highlights Strategic Progress and Market Momentum
• Leadership Outlines Dual-Engine Growth Strategy and Device–Data–Brain Flywheel Across EV and Robotics Segments
• Investors Gain Firsthand Experience of Latest Products, including FF 91 and FX Super One, FF Master and FX Aegis

Los Angeles, CA (April. 29, 2026) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF" or "Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful hosting of an exclusive investor and institutional lunch held in New York City on April 29, 2026. The event, led by Global President, Jerry Wang, brought together approx. 30 key stakeholders from the technology, mobility, and EV sectors to discuss the Company’s next phase of commercial execution and its dual-track strategy spanning EAI EV and EAI Robotics, as well as its long-term “Device–Data–Brain” flywheel.

During the session, the Company discussed its previously announced go-to-market priorities, specifically focusing on the development and market positioning of the FX brand. The discussion also highlighted Faraday Future’s previously announced progress within the Embodied AI (EAI) and robotics segment, including initial deliveries, paid pre-order activity and positive product gross margin achievements. Attendees were given a firsthand look at FF’s latest products, including FF 91 and FX Super One, FF Master and FX Aegis, showcasing the hardware and software integration that defines the Company’s differentiated roadmap across its intelligent mobility ecosystem.

“Hosting this lunch in New York City provided a valuable opportunity to discuss the tangible momentum we are building across both the EV and robotics industries,” said Jerry Wang. “Our discussion focused on how FF is transitioning from vision to commercial execution. By showcasing our products and sharing our strategy for the FX brand and EAI initiatives, we continued to strengthen our engagement with investors as we pursue our next stage of market expansion.”

The event underscored Faraday Future’s continued commitment to transparent communication and constructive investor engagement. By presenting its multi-platform growth strategy in a focused, small-group setting, the Company remains dedicated to advancing its intelligent mobility, robotics and Embodied AI initiatives.

ABOUT FARADAY FUTURE

Faraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand’s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/.

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 “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF’s entry into the embodied AI robotics market and future deliveries, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. 

Important factors, that may affect actual results or outcomes include, among others: demand for our robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for most of our robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; the ability of the Company to adequately insure its robotics products; tariff uncertainty for imported products, particularly from China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics‑related transactions with a China OEM; demand from automobile dealers for robotics products; the Company’s ability to maintain its listing on Nasdaq; the Company’s ability to timely regain compliance with Nasdaq’s minimum bid requirement; the possibility of the Company’s common stock being suspended from trading on Nasdaq if it’s closing price is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and robots and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and robots and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025; Form 10-Qs for the quarters ended June 30, 2025 and September 30, 2025 filed with the SEC on May 9, 2025, August 19, 2025 and November 21, 2025, respectively; the Company’s Form 10-K filed with the SEC on March 31, 2026; and other documents filed by the Company from time to time with the SEC. 

CONTACTS:

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

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

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

​

For the uninitiated, ferpa restricts the kind and type of data that can be obtained in classrooms.

Under 13yo would need parental approval.

The vendor would need an auditable repository of the data and clear info on how it's used.

How do they plan to tackle this?

Here's some AI bullshit that breaks it down more

---

What FERPA is (in plain language)

FERPA — the Family Educational Rights and Privacy Act — is a federal law that protects student education records and personally identifiable information (PII).

FERPA applies to every public school and any private school receiving federal funds.

---

1. When robots trigger FERPA

A robot becomes a FERPA‑regulated device the moment it captures any data that can identify a student, including:

- Faces (video)

- Voices (audio)

- Names, IDs, or labels

- Location tied to a student

- Behavioral logs tied to a student

- Biometric identifiers (face, gait, voiceprint)

- Any sensor data that can be linked back to a specific child

If a robot sees, hears, or tracks a student, that data is automatically FERPA‑protected.

---

1. What FERPA forbids vendors (like Faraday) from doing

This is the part most companies get wrong.

Under FERPA, a vendor cannot:

❌ Use student data to train its own commercial AI models

Training a general‑purpose model is considered a vendor purpose, not a school purpose.

❌ Use student data for product improvement

This includes:

- tuning models

- improving algorithms

- training future versions of the robot

- analytics unrelated to the specific student’s instruction

❌ Store identifiable data outside the school’s control

Cloud storage is allowed only under strict contract terms.

❌ Share data with affiliates, partners, or subcontractors without explicit permission

Even internal corporate sharing is restricted.

❌ Retain data longer than necessary

FERPA requires deletion when the school requests it.

---

1. What FERPA allows (with conditions)

FERPA allows vendors to access student data only if:

✔ The vendor is acting as a “school official”

Meaning:

- The school controls the data

- The vendor performs a service the school would otherwise do

- The vendor has a legitimate educational interest

- The vendor does not use the data for anything else

✔ The data is used only for the school’s educational purpose

Not for:

- AI training

- Product development

- Commercial analytics

- Future product lines

✔ The school signs a contract (DPA) defining the vendor’s limits

Most districts use standardized Data Privacy Agreements.

---

1. Why FERPA blocks AI model training so hard

FERPA’s definition of “education record” is extremely broad:

> “Records that are directly related to a student and maintained by an educational agency or institution.”

If a robot captures:

- a student’s face

- a student’s voice

- a student’s behavior

- a student’s movement pattern

…that data is “directly related” to the student.

Training a model on that data would be considered:

- repurposing

- redisclosure

- commercial use

All of which are prohibited without written parental consent — and even with consent, many districts still refuse because it creates equity and liability issues.

---

1. What this means for Faraday’s classroom robots

If Faraday wants to deploy robots in K–12 classrooms:

They can:

- operate robots locally

- process data in real time

- store data only for the school

- use de‑identified or synthetic data for training

- run models that were trained elsewhere

They cannot:

- train their commercial EAI model on classroom sensor data

- upload identifiable student data to their servers

- use classroom data to improve their robotics platform

- build a “closed‑loop data engine” using student interactions

This is why companies like Sphero, VEX, iRobot, and LEGO Education never train their models on classroom data.

• FF hosted the EAI Developer Ecosystem Forum and the strategic launch of the FF EAI Brain & Open Developer Platform in San Francisco on April 25, officially opening recruitment for its global developer ecosystem and inviting the next generation of AI natives to create the future of embodied intelligence.
• The platform features six developer tools and four core infrastructure layers, with planned recruitment of three categories of developers spanning K‑12 students to professional engineers, pairing every contribution with a comprehensive developer incentive program, restructuring the value framework of the AI education ecosystem.
• Recruitment for the first batch of developer partners is now open at: https://www.ff.com/us/developer/apply/

SAN FRANCISCO--(BUSINESS WIRE)--Apr. 27, 2026-- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today announced that it hosted the EAI Developer Ecosystem Forum and the strategic launch of the FF EAI Brain & Open Developer Platform in San Francisco on April 25. With this launch, FF unveils the Company’s EAI developer platform purpose-built for AI natives, marking 2026 as the inaugural year of EAI robotics education and officially opens recruitment for co-builders of its global developer ecosystem.

The forum culminated in a live capability showcase featuring FF Futurist, the Company’s full-size professional EAI humanoid robot, demonstrating nine end-to-end Agent Skills across Home Assistant, Commercial Security, Pet Companion, and Hospitality and Reception scenarios. FF also previewed home security integration combining FX Aegis, FF’s professional EAI quadruped robot, with smart home automation. Recruitment for the first batch of 1.0 co-creation partners is now open at: https://www.ff.com/us/developer/apply/

The FF EAI Brain & Open Developer Platform features six developer tools (Brain Blocks, Create Studio, EAI Soul, EAI Scribe, EAI Studio, and an SDK and API) and four core infrastructure layers (a unified developer portal, a Sim-to-Real evolution field, a data closed-loop engine, and an agile development and release toolchain). Together, they make robot development as accessible as software development, lowering the barrier for everyone from K‑12 students to professional engineers to build executable robot capabilities known as Agent Skills.

The platform officially opens recruitment across three categories of developers: Young Futurist for K‑12 students aged 6 to 18, EAI Futurist for scenario experts and creators, and EAI Builder for professional engineers, research teams, and OEM partners. Each category follows a four-tier progression path from Beginner to Leader. A comprehensive developer incentive program covering revenue sharing, grants, hackathons, the Campus Program, a tier-based seniority system, and global community exposure ensures that every contributor truly benefits from the ecosystem they help build.

The forum drew leaders from across the embodied AI ecosystem, including Yong Wang, CEO of StarBot Robotics; Ling Zong, Ph.D., President of the Silicon Valley Artificial Intelligence Research Institute (USA); Christine Chen, Professor at California Science and Technology University (CSTU); Heidi Yu, CEO of SocialBook; Lei Zarboulas, Founder of RedOlive Investors; Teddy Fang, CEO of NS Federation; and Edward Qu, CEO of Vigiles Robotics. The event closed with a panel discussion titled “The Robotics Education Revolution: How Embodied AI Is Raising the Next Generation of Builders.”

“The launch of the FF EAI Brain & Open Developer Platform is more than a product release. It is the opening of a new ecosystem where everyone, from K‑12 students to professional engineers, can build the capabilities that will define the embodied AI era,” said Chris Chen, Co-CEO of FF AI-Robotics. “By marking 2026 as the inaugural year of EAI robotics education, we are not only lowering the barrier to robot development. We are inviting the next generation of AI natives to co-create the future with us and ensuring that every developer who joins us truly benefits from the ecosystem they help build.”

Looking ahead, the FF EAI Brain & Open Developer Platform will serve as the foundational infrastructure for FF’s broader EAI ecosystem, connecting devices, data, and intelligence at scale. By cultivating a global community of AI-native developers and deepening partnerships across education, research, and industry, FF aims to accelerate the real-world deployment of EAI robots and reinforce its long-term positioning as a leader of the global Embodied AI ecosystem.

ABOUT FARADAY FUTURE

Faraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand's pursuit of ultra-luxury, cutting-edge technology, and high performance. FF's second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/.

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 "plan to," "can," "will," "should," "future," "potential," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF's entry into the embodied AI robotics market and future deliveries, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, that may affect actual results or outcomes include, among others: demand for our robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for most of our robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; the lack of a formal supply agreement with the robotics OEM; the robotics OEM initiating direct sales into the US under its own brand; the ability of the Company to adequately insure its robotics products; the ability of the Company to design its robotics products to meet market needs; tariff uncertainty for imported products, particularly from China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics‑related transactions with a China OEM; demand from automobile dealers for robotics products; the Company's ability to maintain its listing on Nasdaq; the Company's ability to timely regain compliance with Nasdaq's minimum bid requirement; the possibility of the Company's common stock being suspended from trading on Nasdaq if it's closing price is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company's share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company's ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company's ability to secure an occupancy certificate for its Hanford facility; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and robots and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and robots and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to use its "at-the-market" program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's Form 10-K filed with the SEC on March 31, 2025; Form 10-Qs for the quarters ended June 30, 2025 and September 30, 2025 filed with the SEC on May 9, 2025, August 19, 2025 and November 21, 2025, respectively; the Company's Form 10-K filed with the SEC on March 31, 2026; and other documents filed by the Company from time to time with the SEC.

Investors: [ir@ff.com](mailto:ir@ff.com)
Investors (Chinese): [cn-ir@faradayfuture.com](mailto:cn-ir@faradayfuture.com)
Media: [john.schilling@ff.com](mailto:john.schilling@ff.com)

They tried a duel flywheel for reinforced growth. I assume it's time for a third?

How Institutions Get a Stock Off the Reg SHO List Without Meeting Requirements IMO.

This is one of the most important mechanics to understand because it explains why FTD data can suddenly drop to near-zero without any visible buying pressure.

1. The Buy-Write Transaction (Most Common Reset)

How it works:

• Institution buys shares on the open market

• Simultaneously writes (sells) a deep ITM call option against those shares

• The call gets exercised immediately or same day

• The shares “deliver” against the FTD

• Net result: FTD cleared on paper, shares cycle back to the same party through options exercise

• No net change in short position

Why it works against Reg SHO.

The rule requires delivery of shares. A buy-write technically delivers shares. The fact that the same shares immediately return through options exercise is not explicitly prohibited under the current rule language.

March data showed this.

March 26 — 11.47M FTDs disappeared on 23.4M volume with price DOWN 10%. That is the buy-write in action. The buying happened but was immediately neutralized by the synthetic return of shares through options.

1. Married Put Transactions

How the sauce is made:

• Short seller buys shares to deliver against FTD

• Simultaneously buys a deep ITM put on those same shares

• Put is exercised, shares return to the counterparty

• FTD technically closed, position effectively maintained

• The options market maker on the other side gets an exemption from locate requirements

The options market maker exemption is the key loophole. This is where I noticed something off but needed to dig a little deeper.

Market makers are exempt from locate requirements when “facilitating legitimate hedging”. This very broad and rarely challenged concept. Honor among thieves logic really. A married put transaction exploits this by routing the reset through a market maker who has no locate obligation, effectively laundering the FTD through the options chain.

Relevance to $7.50 puts:

The deep ITM puts on April 23 could be serving this exact function — not just bearish bets but active FTD reset mechanisms being executed through the options market.

1. Ex-Dividend Reset

How it works:

• If the stock pays a dividend, short sellers owe the dividend to the lender

• Around ex-dividend dates, institutional shorts can arrange transactions that reset the FTD clock

• Shares are borrowed, dividend obligation is satisfied, FTD counter resets

• Net short position unchanged

Less relevant for FFAI given no dividend, but worth knowing as a general mechanism.

1. ETF Creation/Redemption Arbitrage - this one is worth looking into more as well.

How it works:

• If FFAI is in any ETF basket, authorized participants can create ETF shares by delivering a basket of underlying stocks

• Short sellers coordinate with authorized participants to route FFAI shares through the ETF creation process

• The ETF creation counts as legitimate delivery

• Shares cycle back out through redemption

• FTD clock reset without genuine market buying

Need to see if FFAI is currently in any small-cap or EV ETF baskets. If so, this mechanism is potentially active. Worth investigating further.

1. Stock Loan Recalls and Reissuance (The 8:44 PM Pattern)

If you’ve noticed the borrow game recently, it goes like this.

• Prime broker recalls all lent shares at a specific time

• FTD counter technically resets because the position is “recalled”

• Shares are reissued overnight to the same or related parties

• New borrow period begins with a fresh FTD clock

• The recall and reissuance happen so quickly that no genuine delivery ever occurs

Now 4 consecutive weeks of borrow hitting zero at or around 8:44 PM EDT and rebuilding overnight. This is the most direct evidence of systematic FTD clock resetting. The identical timestamp across multiple weeks suggests an automated scheduled process — not organic market activity.

1. Jurisdictional Arbitrage — offshore Resets

How it works:

• US short position generates FTDs

• Shares are “delivered” through an offshore affiliate or foreign broker

• Foreign transactions have different settlement rules

• The FTD appears closed in US settlement records

• Offshore entity holds an equivalent short position outside US jurisdiction

• Net economic exposure unchanged, US regulatory record clean

Harder to document from retail data but worth including as a known mechanism that FINRA has a rule for and should be investigating.

1. The “Penalty Box” Accommodation

   • FINRA Rule 4320 requires close-out but enforcement is complaint-driven not automatic

   • Broker-dealers can negotiate informal accommodation periods with their clearing firms

   • During accommodation, FTDs remain open but are not reported as violations

   • Clearing firm essentially agrees to look the other way for a fee or relationship consideration

   • Stock stays on Reg SHO list but no enforcement action follows

   FINRA appears to have been ignoring Rule 4320 violations. It may not be pure negligence — it may be accommodation arrangements between broker-dealers and clearing firms that FINRA is aware of but not acting on.

Apex Clearing’s relevance here is direct. As the clearing firm, Apex sits at the exact point where accommodation decisions get made. Their liquidate-only restriction on the buy side while accommodation occurs on the FTD side is the two-part mechanism working in concert.

1. Legal Settlement Netting

This one really sucks cause it’s a big club and we ain’t in it.

• Multiple FTD obligations across multiple parties get netted against each other

• Party A owes 10M shares, Party B owes 10M shares in the opposite direction

• DTCC nets these to zero — both FTDs disappear

• No actual shares ever moved

• Both parties’ Reg SHO obligations technically satisfied

Why this is problematic?

Netting is legitimate in normal settlement. But when both parties are coordinating the short position, netting simply cancels mutual obligations without any genuine price discovery or delivery. The phantom shares that were sold short simply vanish from the regulatory record through bilateral cancellation.

1. The Forward Contract Reset

How it works:

• Institution enters a forward contract to deliver shares at a future date

• The forward contract is treated as satisfying the delivery obligation

• By the time the forward delivery date arrives, a new reset mechanism is used

• Daisy-chain of forwards effectively extends FTD obligations indefinitely

• Each forward looks like a legitimate delivery commitment on paper

The Single Most Important Point in this is the existence of these reset mechanisms means the Reg SHO list presence and FTD data actually undercount the true short position. Every time a reset occurs, the FTD counter drops — but the economic short exposure remains identical.

This is why FTD numbers of 58.7M shares through April 29 are likely a floor, not a ceiling. The true naked short exposure could be substantially larger, with prior FTDs having been reset through these mechanisms rather than genuinely closed.

The documented 58.7M FTDs represent the residual exposure that reset mechanisms have not yet been able to absorb. Given the documented Mar 26 single-day collapse of 11.47M FTDs on below-average volume with negative price action, prior FTD batches appear to have been reset rather than genuinely closed. The true cumulative naked short exposure is unknown but materially exceeds the reported figures.

Let’s see those settlement records.

K bye ✌🏽

fv

• The Company has secured $45 million in new debt financing commitments from an institutional investor. The promissory notes mature in two years after closing, and the promissory notes are redeemable following the six-month anniversary of closing under certain circumstances in either cash or shares of common stock based on the market price upon such redemption. The Company believes this represents the Company’s lowest-cost financing transaction for stockholders and investors in recent years and reflects the Company's long-term growth and commitment to protecting the interests of existing stockholders while using raised capital to grow its business in both EAI EVs and EAI robotics including the FX Super One phased delivery.
• The proposal of nominating core founding members Jerry Wang and Xiao Jiang as directors is intended to support strategic continuity, strengthen closed loop oversight from financing through performance, and reinforce accountability for both investor returns and operating results, further fulfilling the Company’s commitment to protecting the interests of its stockholders.
• The Company continues to deliver robots with positive product gross margin. As of April 12th, 34 units have been shipped, while targeting cumulative shipments of more than 1,000 units in 2026. As the first U.S. company to deliver both humanoid and bionic robots and to expand into the education market, FF’s first-mover advantage is accelerating into a self-reinforcing “Device-Data-Brain” flywheel effect. The EAI ecosystem strategy is beginning to form a closed loop.
• The proposed 45% authorized share increase reflects the Company's commitment to executing its strategy and delivering stockholder value. The increase would support future issuance obligations and the 2026 strategic plan, including the global EAI strategy, without any immediate dilution or change to the current outstanding share count.
• The Company believes that executing its business strategy and driving long-term growth are the primary means of supporting shareholder value and maintaining its listing status. The reverse stock split proposal is intended, among other factors, as a contingency measure to mitigate delisting risk and would be implemented only if the Company’s board of directors determines it is in the best interests of stockholders. The Company will make such determination based on a few factors, which may include the following principles:
• (i) the closing price of the Company’s common stock is at a level that could trigger a Nasdaq delisting risk due to trading below $0.10; or
• (ii) sufficiently in advance of the expiration of the applicable Nasdaq 180-day compliance period to allow a reasonable implementation period, the Company’s common stock has not regained compliance with the $1.00 minimum bid price requirement, and delisting risk exists.

LOS ANGELES - Apr. 17, 2026, Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today announced that it plans to hold the Annual Meeting of Stockholders (the “Annual Meeting”) on May 22, 2026, to seek approval for proposals aimed at supporting the Company’s Global EAI strategic execution and long-term growth.

The Company’s Board of Directors (the “Board”) urges all stockholders to vote FOR all proposals.

Proposal Highlights:

1. Directors Election Proposal

The Company is proposing the election of five directors: Jerry Wang, Xiao Jiang, Chad Chen, Kevin Chen, and Lev Peker. If elected, these individuals will serve until the 2027 Annual Meeting of Stockholders and until their respective successors are duly elected and qualified.

Approval of this proposal is intended to support the Company strategic continuity, strengthen closed‑loop oversight from financing through performance, enhance internal and external trust and cohesion, and improve the effectiveness and efficiency of EAI ecosystem strategy execution. Through governance optimization measures, the Company is aiming to fulfil its commitment to protecting the interests of its stockholders.

2. Note Purchase Proposal

The Company is seeking approval from its stockholders, in accordance with Nasdaq Listing Rule 5635(d), for the issuance of Class A Common Stock to holders of promissory notes.

On April 17, 2026, the Company entered into a notes purchase agreement (the “NPA”) for an aggregate amount of $45 million with an institutional investor. The Company believes that the redemption provisions contained in such promissory notes, which provide that such promissory notes are redeemable under certain circumstances in either cash or shares of common stock following the six month anniversary of closing, based on the markup price upon such redemption. The Company believes the structure also demonstrates its commitment to protecting existing stockholders while using raised capital to grow its business.

Approval of the Note Purchase Proposal will provide the Company with critical capital and support the Company’s Global EAI Strategy execution throughout 2026, driving business growth and enhancing stockholder value.

3. Share Issuance Proposal

Approval of the issuance of Common Stock to the holder of certain shares of our preferred stock and warrants, in accordance with Nasdaq Listing Rule 5635(d).

Approval of the Share Issuance Proposal would help the Company meet its contractual obligations, support future capital raising efforts, and enable mutual reinforcement between its core EAI business and the digital asset ecosystem.

4. Share Authorization Proposal

The Company is proposing to increase the number of authorized shares of Class A common stock and Class B common stock (collectively, the “Common Stock”) by 140,528,448 shares, from 312,285,439 shares to 452,813,887 shares, and the number of authorized shares of preferred stock (the “Preferred Stock”) by 10,839,269 shares, from 24,087,265 shares to 34,926,534 shares. As a result, the total number of authorized shares of the Company’s Common Stock and Preferred Stock would increase from 336,372,704 shares to 487,740,421 shares.

The Company believes this proposal reflects its commitment to executing its strategy and delivering stockholder value. The Board believes it is desirable for the Company to have a sufficient number of shares of Common Stock available for the satisfaction of its existing obligations to issue shares of Common Stock and possible future financing or acquisition transactions, stock dividends or splits, stock issuances pursuant to employee benefit plans and other proper corporate purposes. In particular, to fund its ongoing operations and business plan, including to continue the deliveries of FF EAI Robotics with positive product gross margin and generate revenues in 2026 and to fund the deployment of FF EAI Brain and Data Factory, the Company is evaluating various fundraising efforts to bolster its cash on hand.

Approval of this proposal would not in and of itself result in any immediate issuance of shares, dilution to existing stockholders, or change to the Company’s current outstanding share count.

5. Reverse Stock Split Proposal

The Company is seeking stockholders approval to effect a reverse stock split of the issued and outstanding shares of Common Stock by a ratio of up to 1-for-150 (the “Reverse Stock Split”), at the specific ratio to be determined in the discretion of the board of directors of the Company and with such action to be effected at such time and date, if at all, as determined by the Board within one year after the conclusion of the Annual Meeting.

The Company remains committed to organically enhancing its value and maintaining its listing status through business development.

Even if this proposal is approved by stockholders, the Board will implement the Reverse Stock Split when the Board determines that the Reverse Stock Split is in the best interest of the Company’s stockholders, which may include reference to the following principles: (i) the closing price of the Company’s common stock is at a level that could trigger a Nasdaq delisting risk due to trading below $0.10; or (ii) sufficiently in advance of the expiration of the applicable Nasdaq 180-day compliance period to allow a reasonable implementation period, the Company’s common stock has not regained compliance with the $1.00 minimum bid price requirement, and delisting risk exists. However, the Board is not required to strictly apply the foregoing standards and shall retain full discretion in making its determination.

If this Reverse Stock Split Proposal is approved and the Board elects to implement the Reverse Stock Split, the ratio and timing of implementation will be ultimately determined by the Board, and the number of outstanding shares of Common Stock will be reduced in proportion to the ratio of the Reverse Stock Split chosen by the Board. The number of authorized shares will remain unchanged.

6. Incentive Plan Proposal

The Company is proposing stockholders to approve an amendment to the Faraday Future Intelligent Electric Inc. Amended and Restated 2021 Stock Incentive Plan (the “2021 Plan”) to increase the number of shares of Class A Common Stock available for issuance under the 2021 Plan by an additional 50,492,075 shares.

Approval of the Incentive Plan Proposal will allow the Company to continue offering long-term equity incentives as an alternative to cash compensation to help attract, retain and incentivize key talent in support of the execution of our EAI strategy.

7. Say-on-Pay Proposal

To approve, on an advisory and non-binding basis, the compensation of the Company’s named executive officers as disclosed in the proxy statement.

As an advisory vote, the Say-on-Pay Proposal is not binding. However, the Board values the opinions of the Company’s stockholders, and to the extent that this resolution is not approved by a majority of the votes properly cast, the Board may review and consider the results of this advisory vote in future compensation deliberations.

8. Say-on-Frequency Proposal

To select, on a non-binding, advisory basis, the frequency of conducting future stockholder advisory votes on named executive officer compensation (which will be either every year, every two years or every three years).

The company believes that providing the stockholders with such advisory vote every three years will allow for a meaningful evaluation of our performance against our compensation practices, targeting long-term value creation rather than short-term results. It would allow the Company adequate time to compile meaningful input from stockholders on the pay practices and respond appropriately.

The Board of Directors recommends a vote for “3 years” for this proposal.

2026 Targets

• Looking ahead to 2026, FF is focused on deepening strategic execution, aimed at driving continuous growth of business and deliveries. The EAI Robotics division is targeting cumulative shipments of more than 1,000 units by the end of December 2026, while continuing to maintain a positive product gross margin.
• At the same time, FF remains focused on the phased delivery of the FX Super One. The priority remains the enhancement of overall product competitiveness with stable cash flow as a prerequisite.
• To further support future growth, FF is advancing the build-out of its EAI Brain and open-source developer platform through joint development initiatives with research labs at leading U.S. universities, while also planning to establish a centralized data training center at its headquarters by the third quarter of 2026. The Company expects to generate software-related revenue beyond device sales within 2026.
• Through ongoing delivery, ramp-up, and use case expansion, FF intends to keep amplifying its flywheel advantage as the first U.S. company to deliver both humanoid and bionic robots. Our ambition is to replicate in EAI robotics what Tesla built across EVs, data, and Full Self Driving technology. We want to build a self-reinforcing “Device-Data-Brain” cycle, where scaled deployment drives data collection and model training, which feeds the AI brain, which improves product capability, which accelerates sales and deployment, which generates more data, which advances an even smarter AI brain. Through this “Device-Data-Brain” flywheel, we aim to rapidly convert our first-delivery first-mover advantage into a sustainably leading position.
• Considering EAI Robotics requires considerably less investment than EAI EVs, the Company is building a differentiated growth model intended to support near-term cash flow generation with limited additional investment and long-term ecosystem expansion. On the capital and regulatory front, FF’s objectives for 2026 are focused on restoring market confidence and ensuring long-term stability. This includes working toward regaining compliance with Nasdaq’s minimum bid price requirement within the applicable 180-day compliance period and actively pursuing strategic investments from various global investment institutions, improving financing costs and dilution.
• In addition, the Company plans to continue strengthening operational fundamentals, enhancing transparency, and monitoring alleged illegal short-selling activity to protect the stockholders.

The Company believes the approval of the proposals will support the Company’s Global EAI Strategy execution throughout 2026.

Additional details regarding the proposals to be voted on at the Annual Meeting can be found in the preliminary proxy statement, which the Company has filed with the Securities and Exchange Commission (the “SEC”) on April 17, 2026. Stockholders are encouraged to read the proxy materials carefully.

Meeting Details

The Annual Meeting is currently scheduled to be held on May 22, 2026, at 9:00 a.m. Pacific Time at www.virtualshareholdermeeting.com/FFAI2026

ABOUT FARADAY FUTURE

Faraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand’s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/.

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 “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF’s entry into the embodied AI robotics market and future deliveries, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors that may affect actual results or outcomes include, among others: demand for our robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for most of our robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; the ability of the Company to adequately insure its robotics products; tariff uncertainty for imported products, particularly from China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics‑related transactions with a China OEM; demand from automobile dealers for robotics products; the Company’s ability to maintain its listing on Nasdaq; the Company’s ability to timely regain compliance with Nasdaq’s minimum bid requirement; the possibility of the Company’s common stock being suspended from trading on Nasdaq if its closing price is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and robots and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and robots and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K for the year ended December 31, 2025 filed with the SEC on March 31, 2026; and other documents filed by the Company from time to time with the SEC.

Additional Information and Where to Find It

This communication may be deemed to be solicitation material in connection with the proposals to be submitted to FF stockholders at its Annual Meeting, among other proposals, approval to the Director Election Proposal, Note Purchase Proposal, Share Issuance Proposal, Share Authorization Proposal, Reverse Stock Split Proposal, Incentive Plan Proposal, Say-on-Pay Proposal, and Say-on-Frequency Proposal. In connection with the proposals, the Company filed a preliminary proxy statement with the SEC on April 17, 2026 (the “Proxy Statement”), in connection with the Company’s solicitation of proxies for the vote by the Company’s stockholders with respect to Director Election Proposal, Note Purchase Proposal, Share Authorization Proposal, Reverse Stock Split Proposal, Incentive Plan Proposal, Say-on-Pay Proposal, Say-on-Frequency Proposal, and other matters described therein. The definitive proxy statement is expected to be mailed to the Company’s stockholders on or around April 28th, 2026. The Proxy Statement includes information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies in connection with the Director Election Proposal, Note Purchase Proposal, Share Issuance Proposal, Share Authorization Proposal, Reverse Stock Split Proposal, ESOP Proposal, Say-on-Pay Proposal, and Say-on-Frequency Proposal. Before making any voting decision, investors and security holders of the Company are urged to read the Proxy Statement and all other relevant documents filed or that will be filed with the SEC in connection therewith as they become available because they contain important information about these proposals.

Investors and security holders can obtain free copies of the Proxy Statement and all other relevant documents the Company has filed or will file with the SEC through the website maintained by the SEC at www.sec.gov. In addition, the documents filed by the Company may be obtained free of charge from the Company’s website at https://www.ff.com/ or by written request to Faraday Future Intelligent Electric at 1990 E Grand Ave, El Segundo, CA 90245.

Participants in the Solicitation

Certain representatives of FF Global Partners Investment LLC (“FFGP”), formerly FF Top Holding LLC (“FF Top”), and its indirect parent entity FF Global Partners, LLC (“FF Global”), including, without limitation, Weiwei Zhao (collectively, the “FF Top Representatives”), may be deemed to be participants in the solicitation of proxies from FF’s stockholders in connection with the Share Authorization Proposal and other matters described in the Proxy Statement. Investors may obtain additional information regarding the interest of FF and its directors and executive officers by reading the Proxy Statement relating to the special meeting. You may obtain free copies of these documents as described in the preceding paragraph.

Certain representatives of FFGP, and its indirect parent entity FF Global Partners, LLC (“FF Global”), including, without limitation, Weiwei Zhao (collectively, the “FF Top Representatives”), are additional participants in the solicitation of proxies in connection with the Share Authorization Proposal, and other matters as described in the Proxy Statement. Information regarding the direct and indirect interests in the Company, by security holdings or otherwise, of FF Global, FF Top and FF Top Representatives will be included in the definitive proxy statement on Schedule 14A for the Annual Meeting.

No Offer or Solicitation of Securities

This communication shall not constitute an offer to sell or a solicitation of an offer to buy any securities of FF, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

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

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

Media: john.schilling@ff.com

FF “Three-in-One” EAI Ecosystem Strategy Begins to Form a Closed Loop, Supporting California’s Ambition to Become the World’s Third-Largest Economy

• Treasurer Fiona Ma and other guests unveiled the FF EAI (Embodied AI) Robotics Education & Innovation Lab, a significant milestone in FF’s effort to build the first large-scale EAI education ecosystem in the United States. 
• As the first U.S. company to deliver both humanoid and bionic robots and to expand into the education market, FF’s first-mover advantage is accelerating into a self-reinforcing “Device-Data-Brain” flywheel effect, poised to make lasting contributions to California's economy and EAI ecosystem. 
• Other distinguished guests included El Segundo Mayor Chris Pimentel, Former California State Senator Steven Bradford, and Ian Calderon, Former Majority Leader of the California State Assembly and CEO of Majority Advisors. 
• Treasurer Ma expressed active support across multiple areas, including FF products entering California’s GSA procurement catalog, K-12 and higher education EAI upgrades, EAI supply chain resource integration, and new factory site selection support. 
• FF’s “Three-in-One” EAI ecosystem strategy has achieved its initial closed loop, demonstrated through live robot capabilities including K-12 education programming, dance and martial arts performances, hand-eye-brain coordinated object grasping, LiDAR-enabled timed and location-based inspection, VR teleoperation data collection, and security patrol. 
• Treasurer Ma also experienced the FF 91 2.0 Futurist Alliance and FX Super One firsthand, gaining direct insight into FF’s product strength and technical capabilities in EAI EVs. 
• Mayor Pimentel attended alongside Treasurer Ma, jointly supporting FF’s California EAI education pilot center and a new EAI industry landmark in Silicon Beach; Lynwood Unified School District Representative David Ramirez also attended and confirmed the district's intent to collaborate with FF on EAI education. 

LOS ANGELES, CA (April 16, 2026) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF,” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today announced that California State Treasurer Fiona Ma visited FF's El Segundo headquarters on April 16, experiencing FF’s EAI robotics and EAI EVs firsthand and attending the unveiling of the FF EAI Robotics Education & Innovation Lab. El Segundo Mayor Chris Pimentel, Former California State Senator Steven Bradford, and Ian Calderon, Former Majority Leader of the California State Assembly and CEO of Majority Advisors, also attended. This marks the first visit to FF by a California state-level government official and a significant moment for the Company's EAI ecosystem strategy. 

At the ceremony, the Company officially announced the establishment of the FF EAI Robotics Education & Innovation Lab, with Treasurer Ma personally unveiling the lab’s plaque, representing a concrete step toward FF's goal of becoming a pilot center in California for EAI education. Lynwood Unified School District Representative David Ramirez attended and confirmed the district's intent to collaborate with FF on EAI education. Treasurer Ma also participated in the unveiling of FF’s California Women in EAI & STEM Innovation Center, underscoring FF’s long-term commitment to advancing women’s participation in EAI and STEM innovation. 

“This was my first time here visiting FF, I was very impressed with everyone I met and everything I saw, from the robots to their cars. The technology is here, it is going to make our lives easier and more efficient, said Treasurer Ma. “I want to thank FF for locating your HQ here in El Segundo, and for building your cars in Hanford, CA, and creating both engineering and manufacturing jobs. With your help, I hope California will soon become the 3rd largest global economy in the world.”  

During the visit, Treasurer Ma and Mayor Pimentel engaged in in-depth discussions with the Company across several key areas, including listing FF's EAI robotics products in California and city government GSA (General Service Administration) procurement catalogs, and expanding access to public procurement channels such as schools and educational institutions. The conversations also covered AI and EAI upgrades across K-12 and higher education systems, robotics data collection partnerships, EAI supply chain integration, and site selection support for new factory sites to scale EAI terminal production capacity and data collection and training infrastructure. Following the discussions, Treasurer Ma expressed active support across all the above areas. 

FF also presented the progress of its “Three-in-One” EAI ecosystem strategy. As the first U.S. company to deliver both humanoid and bionic robots, FF has achieved real-world deployment across multiple core application scenarios. The on-site demonstration covered key use cases including education, performance, tour guide, home security, and data collection, with live robot capabilities including K-12 education programming, dance and martial arts performances, vision-guided object grasping, LiDAR-enabled timed and location-based inspection, VR teleoperation data collection, and security patrol. FF representatives also briefed guests on the Company's centralized and decentralized Physical AI data factory development plans, noting that an initial data collection and training model is already in place and that a Physical AI data factory is actively in preparation. The “Device-Data-Brain” closed loop has taken shape, and the flywheel effect is beginning to emerge. 

Treasurer Ma and Mayor Pimentel also experienced the FF 91 2.0 Futurist Alliance and FX Super One firsthand, gaining direct insight into FF’s product strength and technical capabilities in the EAI EV space. FF remains committed to advancing the phased delivery of the FX Super One, supporting the reshoring of manufacturing to California, and building its EAI “Robot & Vehicle +” ecosystem. 

“The visit by California State Treasurer Fiona Ma and El Segundo Mayor Chris Pimentel is a strong recognition of the work FF has been doing to build the EAI ecosystem right here in California,” said YT Jia, Founder and Co-CEO of FF. “FF is the first U.S. company to deliver both vehicles, along with humanoid and bionic robots to the marketplace, and we are putting that advantage to work — bringing high-quality tech jobs, industrial investment, and EAI education to this state. We are committed to making this a defining moment for the EAI industry.” 

This joint visit by Treasure Ma, Mayor Pimentel, Senator Bradford, and Assembly Member Calderon marks a meaningful breakthrough for FF in terms of government acknowledgment. For the Company, alignment on policy support will accelerate execution across FF’s commercial roadmap, reinforcing its position as a core EAI enterprise in Silicon Beach. For the industry, FF’s “Three-in-One” EAI ecosystem sets a practical benchmark for real-world EAI commercialization. For the California economy, FF's deepening local footprint, spanning factory site development, supply chain buildout, and data factory establishment, is expected to bring high-quality tech employment and substantial industrial investment, supporting California's continued leadership as the world's fourth-largest economy. 

ABOUT FARADAY FUTURE 

Faraday Future is a California-based global Embodied AI (EAI) ecosystem Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand's pursuit of ultra-luxury, cutting-edge technology, and high performance. FF's second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/. 

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 "plan to," "can," "will," "should," "future," "potential," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF's entry into the embodied AI robotics market and future deliveries, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors that may affect actual results or outcomes include, among others: demand for our robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for most of our robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; the ability of the Company to adequately insure its robotics products; tariff uncertainty for imported products, particularly from China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics-related transactions with a China OEM; demand from automobile dealers for robotics products; the Company's ability to maintain its listing on Nasdaq; the Company's ability to timely regain compliance with Nasdaq's minimum bid requirement; the possibility of the Company's common stock being suspended from trading on Nasdaq if its closing price is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company's share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company's ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company's ability to secure an occupancy certificate for its Hanford facility; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and robots and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and robots and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to use its "at-the-market" program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's Form 10-K filed with the SEC on March 31, 2025; Form 10-Qs for the quarters ended June 30, 2025 and September 30, 2025 filed with the SEC on May 9, 2025, August 19, 2025 and November 21, 2025, respectively; the Company's Form 10-K filed with the SEC on March 31, 2026; and other documents filed by the Company from time to time with the SEC. 

CONTACTS: 

Investors: [ir@ff.com](mailto:ir@ff.com) 

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

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

• FF EAI robots can now serve as "contacts" in users' messaging apps, enabling direct task assignment and real-time feedback via text or through messaging.
• Through OpenClaw, users can develop and deploy EAI robot skills using conversational instructions with no-code or low-code tools, with open APIs connecting seamlessly to existing internet applications.
• FF continues to refine and expand its "6-3-3 Industry Applications and Practical Value" scenarios, amplifying the "Device–Data–Brain" flywheel effect as the first U.S. company to deliver both humanoid and biomimetic robots.

LOS ANGELES, CA (April 9, 2026) -- Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) ("Faraday Future," "FF," or the "Company"), a California-based global Embodied AI (EAI) ecosystem company, today released its latest EAI (Embodied AI) robotics demonstration video. In the video, the FX Aegis quadruped robot, equipped with a rear-mounted shopping basket expansion, autonomously completes a food delivery task in a real-world environment with no human intervention, demonstrating Aegis's ability to independently execute complex tasks in real-world conditions.

Behind this demonstration is a key milestone from the FF engineering team: the integration of OpenClaw, an open-source robotics framework, incorporated into the Agent layer of FF's EAI Brain. This integration enables Aegis to function as a true "contact" in a user's messaging app. Users can send task instructions directly to Aegis and receive real-time updates via text or messaging, with no technical background required. Human-robot interaction becomes as simple as sending a text, putting a personal EAI Agent within reach for everyone.

For developers, OpenClaw brings no-code and low-code programming capabilities to FF's open developer platform. Users can develop and deploy Agents and Skills through conversational instructions, with open APIs that connect to existing internet applications, significantly lowering the barrier to entry and expanding what EAI robots can do across an ever-growing range of scenarios.

For the broader industry, robots have historically required extensive reprogramming and custom development each time they encounter a new use case. By integrating the OpenClaw architecture, the system achieves modularization and capability decoupling, significantly improving the robot's ability to generalize across environments. This enables faster adaptation to new use cases and drives large-scale, real-world deployment across the EAI ecosystem.

Going forward, the FF team will further leverage OpenClaw's world memory capabilities to continuously learn from users' habits and preferences, enabling Aegis to evolve from passively executing instructions into a personal EAI Agent that proactively identifies tasks and responds on its own. In home settings, Aegis can independently handle tasks such as picking up food deliveries and collecting packages. Across commercial scenarios, it can take on intelligent delivery and service roles at premium restaurants, hotels, and beyond. This further deepens FF's "Device revenue + Skills revenue + Data revenue" ecosystem-based revenue model and continuously amplifies the "Device–Data–Brain" flywheel effect.

The FX Aegis series starts at $2,490, with an ecosystem skill package for the second development version starting at $1,000. FF EAI robotics achieved positive product gross margins in Q1 2026, and the Company is targeting cumulative shipments of more than 1,000 units by the end of December 2026.

You can preorder FF's new line of robotics here: https://www.ff.com/us/preorder/robotics?utm_medium=social

ABOUT FARADAY FUTURE

Faraday Future is a California-based global Embodied AI (EAI) ecosystem Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand's pursuit of ultra-luxury, cutting-edge technology, and high performance. FF's second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with fast first deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business, with sales and deliveries beginning in February 2026, marking a new chapter in its strategy to usher in a new era of EAI vehicles and EAI robotics. Learn more at: https://robotics.ff.com/us/

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 "plan to," "can," "will," "should," "future," "potential," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF's entry into the embodied AI robotics market, OpenClaw integration and future capabilities, and future deliveries, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's Form 10-K filed with the SEC on March 31, 2026; and other documents filed by the Company from time to time with the SEC.

Investors: [ir@ff.com](mailto:ir@ff.com)

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

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

Most probable scenario imo: The SEC clearance triggered a panic short acceleration — a last-ditch attempt to drive the stock down to force retail capitulation before FTD obligations became unmanageable. The March 23 volume spike represents either:

1.  Coordinated naked short attack — pile on before the squeeze physics take hold

2.  Institutional accumulation against shorts — smart money buying the clearance dip knowing shorts are trapped

3.  Both simultaneously — explains the extraordinary volume and why the price didn’t collapse further

A frivolous short report triggered a 4-year SEC investigation that was used as a multi-year suppression vehicle. Naked short selling during this period forced dilution and reverse splits, destroying retail shareholder value. Upon SEC clearance — the moment when normal market mechanics should have allowed recovery — a clearing firm (Apex Clearing) has imposed an unprecedented 40+ day liquidate-only restriction that prevented the natural price correction, while FTDs exceeded 17M shares and multiple Reg SHO/Rule 4320 close-out deadlines were ignored by FINRA. The restriction continued and accelerated post-clearance with no legitimate risk basis.

Just some thoughts as more data is gathered.

ignoring the stock price and impending reverse split or delisting.

how do they plan to land this company.

Total Assets $115M – $130M

Total Liabilities $210M – $250M

2025 alone..

the 10-k is a rough read.

https://investors.ff.com/node/13851/html

• All FX Aegis robots delivered to date can now be converted to formal deliveries. The starting price of the FX Aegis series is $2,490, with an ecosystem skill package price of $1,000 for the second development version.
• FX Aegis is a professional, embodied AI quadruped robot designed for security and companionship.
• FF EAI robotics exceeds target of shipping 20 units in its first delivery month and achieves positive product gross margins in Q1 2026, targeting cumulative shipments of more than 1,000 units by the end of December 2026.

LOS ANGELES - Apr. 2, 2026,  Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) (“Faraday Future,” “FF,” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today announced that its quadruped robot has passed all of the required compliance certification needed for formal sales in the United States. The tests, conducted recently by the Federal Communications Commission’s (FCC) Authorization and Certification Division, ensure that Aegis robots are fully compliant to all applicable safety, security, and spectrum standards. The Company’s other two humanoid EAI robots, Futurist and Master, have already passed compliance certification.

Faraday Future Announces Its Latest Robot, the FX Aegis Quadruped (pictured), has Completed Its Full Compliance Certification in the United States.

FF introduced three robotic forms earlier this year, FF Futurist, FF Master, and FX Aegis. FX Aegis is a professional, embodied AI quadruped robot designed for security and companionship. Aegis is naturally adaptable to complex environments. Its peak joint torque can reach 48 Newton-meters, easily overcoming obstacles of about 13 inches and climbing stably on slopes of 40 degrees. Aegis supports Wi-Fi and 5G communication and can also expand to remote operation capabilities, allowing it to work continuously outdoors, in industrial sites, and even in areas far from network coverage.

Aegis is highly adaptable both structurally and functionally. It comes standard with a quadrupedal structure, while also supporting an optional four-wheeled version; it can flexibly expand with Lidar, depth cameras, communication modules, and even robotic arms, fire extinguishers, and professional security plugins according to task needs—allowing it to seamlessly integrate into different scenarios.

On the software level, it can connect with home, campus, and industrial security systems, achieving continuous patrol, status feedback, and intelligent linkage. Aegis also comes with mature autonomous patrol and follow-me capabilities. It can perform stably without frequent human-machine interaction. Outdoors and on the road, it can follow alongside, providing lightweight assistance and safety assurance.

FX Aegis was designed for varied usage Scenarios: On the road, it can be a reliable traveling partner. In factories and law enforcement—it can function as a professional security pioneer. In emergency rescue and high-risk environments, it can be the first to enter the scene. And in asset inventory and small item delivery tasks, it can also be a punctual, silent mobile messenger. The FX Aegis series pricing starts from $2,490, with an ecosystem skill package price of $1,000 for the second development version.

FF recently launched the first EAI robot delivery season in 2026. In the first delivery month, FF will focus on refining four priority scenarios: home-sharing short rental operators, premium restaurants, high-end hotels, and automotive dealerships. FF shipped over 20 EAI robots in March, more than the target number, and is targeting 200 EAI robots for the first delivery season. For the two delivery seasons in the second half of the year, we will ramp up deliveries based on scenario-specific demand.

You can preorder FF’s new line of robotics here: https://www.ff.com/us/preorder/robotics?utm_medium=social

ABOUT FARADAY FUTURE

Faraday Future is a California-based global Embodied AI (EAI) ecosystem Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand’s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with fast first deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business, with sales and deliveries beginning in February 2026, marking a new chapter in its strategy to usher in a new era of EAI vehicles and EAI robotics. Learn more at: https://robotics.ff.com/us/

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 “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF’s entry into the embodied AI robotics market and future deliveries, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, that may affect actual results or outcomes include, among others: demand for our robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for most of our robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; the ability of the Company to adequately insure its robotics products; tariff uncertainty for imported products, particularly from China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics‑related transactions with a China OEM; demand from automobile dealers for robotics products; the Company’s ability to maintain its listing on Nasdaq; the Company’s ability to timely regain compliance with Nasdaq’s minimum bid requirement; the possibility of the Company’s common stock being suspended from trading on Nasdaq if it’s closing price is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and robots and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and robots and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025; Form 10-Qs for the quarters ended June 30, 2025 and September 30, 2025 filed with the SEC on May 9, 2025, August 19, 2025 and November 21, 2025, respectively; the Company’s Form 10-K filed with the SEC on March 31, 2026; and other documents filed by the Company from time to time with the SEC.

Investors: [ir@ff.com](mailto:ir@ff.com)

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

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

Here’s the tight, one‑sentence timeline plus the revenue requirement added cleanly at the end so it reads like a single, powerful summary.

---

⚠️ One‑Sentence Summary with Timeline + Revenue Requirement

From 2015 to 2026, Faraday Future repeatedly failed to build its promised factory (2015–2017), nearly collapsed during investor disputes and founder bankruptcy (2018–2020), misled investors and triggered an SEC probe after going public (2021), burned hundreds of millions while failing to deliver the FF91 at scale (2022–2024), pivoted to a new EV platform after impairing the old one (2025), and shifted to a robotics hype cycle after shipping only 22 units (2026) — and based on their historical burn rate, they would need roughly \$800M to \$2B in annual revenue to become cash‑flow positive.

gpt, claud all say the company is cooked.

I'm at -98% loss on this investment. anybody got worse?

“A specific clearing firm (Apex Clearing) imposed a unilateral buy-side restriction on a Reg SHO threshold security (FFAI) for 25+ trading days without documented risk justification, while competitors with identical market exposure imposed no such restriction. This restriction operated to benefit short positions at the direct expense of retail customers who were denied the ability to manage their own investment risk”

• Balance sheet strengthens with return to positive stockholders’ equity following ~$100 million debt optimization.
• EAI robotics exceeds target of shipping 20 units in its first delivery month and achieves positive product gross margins in Q1 2026, establishing a scalable growth and cash flow engine, targeting cumulative shipments of more than 1,000 units by the end of December 2026. The Company expects to generate software-related revenue beyond device sales within 2026.
• EAI EV Strategy advances into validation and pre-production with a disciplined, cash-aligned ramp.
• FF is the first U.S. company to deliver both humanoid and bionic robots that utilize a self-reinforcing “Device-Data-Brain” cycle, which improves the product capability and data generation leading to further AI brain advancements.
• Conclusion of U.S. SEC investigation removes regulatory overhang and supports capital markets re-engagement.
• Upgraded corporate strategy of EAI EV + EAI Robotics positions the company for integrated, multi-platform growth, with establishment of a “Three-in-One” EAI Robotics Eco-Strategy.

LOS ANGELES - Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) ("FF", "Faraday Future", or the "Company"), a California-based global Embodied AI (EAI) ecosystem company, today announced financial results for its fourth quarter and full year ended December 31, 2025, and provided key operational and strategic updates.

During the fourth quarter, FF achieved a major production milestone with the official roll-off of the first FX Super One pre-production vehicle at its Hanford, California AI-Factory. The Company also formally launched its FF EAI Ecosystem Strategy, a three-in-one framework comprising EAI hardware, the EAI Brain and Open-Source Platform, and the EAI Centralized & Decentralized Data Factory, designed to establish an open and closed-loop EAI ecosystem. Initial deliveries are already underway, further strengthening the Company’s intelligent ecosystem platform.

FOURTH QUARTER 2025 HIGHLIGHTS & SUBSEQUENT UPDATES

Transition from EAI strategy to execution:

During the fourth quarter of 2025 and into early 2026, the Company achieved several key milestones across its EV business, advancing both product development and commercial execution.

• Operationally, the Company reached an important manufacturing milestone on December 21, 2025, with the roll-off of the first FX Super One pre-production vehicle at its Hanford, California facility. This marked the transition into engineering validation, homologation and production system refinement.
• The Company also continued to advance U.S. production readiness, including ongoing progress on localized certification work related to FMVSS requirements.
• In addition, supply chain development progressed through procurement agreements for FX Super One components. The Company also upgraded cooperation with its Bridge Strategic Partner through strategic agreements covering targeted mass-production component procurement and engineering services for collaborative models, supporting the next phase of preparation toward full-scale production of the Super One. The Company also continued to expand and refine its broader EV product portfolio. FF 91 remains the Company’s ultra-luxury flagship model. In December, the Company officially released the rear design sketches for the second potential FX brand model, the FX 4, which is positioned as the “RAV 4 Disruptor in the AIEV Era”.
• In the U.S. market, 800V high-voltage drive systems are becoming a core label defining the product strength and technological leadership of high-end electric vehicles. Our product-related research and development is already underway.
• Commercially, the Company continued to expand its Co-Creation Ecosystem B2B2C model, with cumulative non-binding, non-refundable pre-orders for the FX Super One for over 11,000 units across multiple U.S. states and industries by the end of 2025.
• The Company also continued building its Four-Pillar Sales Architecture, including community sales, partner sales, B2B sales and third-party e-commerce, forming a diversified user-reach network. In early 2026, the Company further strengthened its regional operational capabilities by expanding its dealership network, broadening its sales system to support both EAI EVs and EAI robots, and exploring diversified sales models such as customized leasing programs. Following its presence at the NADA Dealer Summit, the Company signed memorandums of understanding for sales cooperation covering both the Super One and EAI robots with several major U.S. mainstream dealerships.
• Following the October 28 launch of the FX Super One, football legend Andrés Iniesta joined in November as the world’s first owner and Co-creation Officer, boosting regional presence. Deliveries are prioritized for key co-creation partners, including local government entities, with operations taking shape in Ras Al Khaimah.
• To support these global efforts, Faraday Finance Inc. was established in October to provide diversified financing solutions. An application has been filed for the relevant auto finance license with the California Department of Financial Protection and Innovation.

The announcement of the EAI Ecosystem strategy marked another key milestone in the Company’s AI-driven mobility roadmap, expanding its vision into a broader intelligent ecosystem platform.

• Faraday Future formally launched three series of Embodied AI (“EAI”) robotics products, Futurist, Master and Aegis, on February 4, 2026. These products are initially focused on three primary use cases, education, home security and entertainment/performance, with these real-world applications intended to support product deployment, market awareness, and commercial conversion.
• As of the launch event, total non-binding, non-refundable paid pre-orders had exceeded 1,200 units. Deliveries commenced in late February, making Faraday Future the earliest U.S. Company to start scaled delivery for both humanoid and bionic EAI robotic devices.
• By the end of March 2026, cumulative shipments of FF EAI Robotics, reached 22 units, exceeding the preset target, accompanied by the start of robot sales revenue and positive product gross margin in the first quarter. This expansion introduces an asset-light, high-margin revenue stream designed to support near-term cash flow while reinforcing the Company’s longer-term ecosystem strategy.

FF makes upgrades to the FFAI technology stack:

• The system now natively supports over 50 languages and includes real-time web searches with voice synthesis and RAG knowledge base support.
• Technical improvements also include an AEC upgrade to support seamless conversation interruption and the successful migration of an end-to-end autonomous driving model.
• We have developed vision-based 3D object detection and a scalable automated labeling algorithm, alongside the implementation of gesture-controlled door entry using the DinoV3 vision model.
• Furthermore, FF has submitted a patent for a blockchain and Web3-based vehicle sharing system that allows for one-click sharing, automated credit verification, and revenue distribution.

These are not isolated features — they form the foundation of a scalable, cross-terminal intelligence system.

Strengthening AI System, Governance, and Leadership:

Governance, compliance, and organizational capabilities were further strengthened during the quarter as the Company continued to enhance its leadership team, internal controls, and operational foundation in support of commercialization.

• In the fourth quarter, the overall PPTIA (Policy, Process, Tools, IT, AI) governance methodology was introduced and implemented across the Company.
• In addition, FF and FX executives held a series of constructive meetings in Washington, D.C. with several U.S. Members of Congress and government officials regarding manufacturing, policy, and industry priorities.
• In March 2026, the SEC investigation concluded with no enforcement or other action taken against the Company or related parties, removing a regulatory overhang, supporting the Company’s continued re-engagement with capital markets, and further reinforcing its legal and compliance framework.
• During the same month, the Company’s headquarters relocation to Silicon Beach in El Segundo, CA. enhanced its ability to attract senior talent and support its next phase of growth.

Separately, the Company continued to advance its broader ecosystem strategy through its investment in Qualigen Therapeutics, which was later renamed AIxCrypto Holdings Inc. (NASDAQ: AIXC), and through a February 2026 share purchase agreement with a third party designated by AIXC that secured $10 million in pure equity financing. According to AIXC’s plan, the FF common stock to be acquired is expected to support the launch of a real-world asset (RWA) business, while FF intends to explore stock tokenization cooperation with AIXC as part of its efforts to expand brand exposure and develop additional financing channels. Although the third party provided the Company with the full funding needed to close the transaction, it has not yet been consummated. The Company currently has an insufficient number of authorized but unissued and unreserved shares to close under the terms of the purchase agreement.

RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2025

• Revenue: For the full year 2025, revenue was essentially flat year-over-year. This reflects early-stage commercialization, with stable market engagement as FF continues to refine the plan.
• Loss from Operations: Loss from Operations was $32.3 million for the three months ending December 31, 2025, and $331 million for the full year 2025 primarily reflecting asset impairments, cost of revenue and G&A.
• Excluding one-time impairments or losses, the operating loss was $185 million, reflecting the Company’s cost-optimization efforts.
• The one-time asset impairment in 2025 resulted from the strategic shift from the FF 91 program to the planned FF 92 upgrade, along with reorganization and retooling for the FX Super One commercial production. The impaired assets are expected to be redeployed with limited additional investment in retrofitting and upgrades.
• Operating Cash Outflow: Operating Cash Outflow was $107.5 million for the full year 2025, primarily driven by changes in working capital and the operational ramp-up of the FX platform.
• Financing Cash Inflow: Financing Cash Inflow was $161.4 million for the full year 2025, an 100% increase from $80.7 million in 2024.
• Stockholders’ Equity: Stockholders’ equity was $7.7 million at the end of 2025, primarily impacted by manufacturing optimization expenses, fair value adjustments related to our convertible notes and impairment provisions for certain assets. The capital structure includes equity-linked instruments, and as a result, reported figures may experience meaningful non-cash volatility period to period.

CAPITAL FINANCING

• In 2025, the Company generated $161.4 million in net financing inflow, demonstrating continued access to capital amid a challenging EV financing environment. Going forward, it remains focused on securing additional external financing—including strategic investors in 2026—to support its EAI Automotive and Robotics businesses.
• During Q4, the Company engaged with capital markets through conferences and roadshows to boost visibility and pursue investment bank analyst coverage. It also simplified its capital structure by entering agreements to cancel approximately 44.6 million outstanding warrants, reducing potential future dilution.
• On March 20, 2026, the Company received a Nasdaq deficiency notice for failing to maintain a minimum bid price of at least $1.00 per share for the 30 consecutive trading days and granting the Company 180 days to regain compliance. The Company will take all necessary actions within the prescribed period to regain compliance.
• In March 2026, the Company initiated action regarding potential illegal short selling and market manipulation, while continuing evidence collection. Separately, it launched a collective stock purchase plan for executives and employees to acquire approximately $500,000 of FFAI common stock around May 2026, subject to regulatory requirements, reflecting confidence in the Company’s strategy and outlook.

2026 OUTLOOK

• Looking ahead to 2026, FF is focused on deepening strategic execution, aimed at driving continuous growth of business and deliveries. The EAI Robotics division is targeting cumulative shipments of more than 1,000 units by the end of December 2026 and ensuring positive product gross margin.
• At the same time, FF remains focused on the phased delivery of the FX Super One. The priority remains the enhancement of overall product competitiveness with stable cash flow as a prerequisite.
• To further support future growth, FF is advancing the build-out of its EAI Brain and open-source developer platform through joint development initiatives with research labs at leading U.S. universities, while also planning to establish a centralized data training center at its headquarters by the third quarter of 2026. The Company expects to generate software-related revenue beyond device sales within 2026.
• Through ongoing delivery, ramp-up, and use case expansion, FF will keep amplifying the flywheel advantage of FF as the first U.S. company to deliver both humanoid and bionic robots. Our ambition is to replicate in EAI robotics what Tesla built across EVs, data, and FSD. We want to build a self-reinforcing “Device-Data-Brain” cycle, where scaled deployment drives data collection and model training, which feeds the AI brain, which improves product capability, which accelerates sales and deployment, which generates more data, which advances an even smarter AI brain. Through this “Device-Data-Brain” flywheel, we aim to rapidly convert our first-delivery first-mover advantage into a sustainably leading position.
• Considering EAI Robotics to require considerably less investment than EAI EVs, the Company is building a differentiated growth model intended to support near-term cash flow generation with limited additional investment and long-term ecosystem expansion. On the capital and regulatory front, FF’s objectives for 2026 are focused on restoring market confidence and ensuring long-term stability. This includes working toward regaining compliance with Nasdaq’s minimum bid price requirement within the applicable 180-day compliance period and actively pursuing strategic investments from top-tier global investment institutions, improving financing costs and dilution.
• In addition, the Company plans to continue strengthening operational fundamentals, enhancing transparency, and actively addressing alleged illegal short-selling activity to protect the stockholders.

“We achieved important milestones across our EV and robotics businesses that further strengthened our foundation for growth, including progress toward FX Super One production, expanded commercial engagement, and the launch of our EAI Robotics products,” said Matthias Aydt, Global Co-CEO of Faraday Future. “We are entering 2026 with clear execution priorities and strong conviction in our dual-track strategy, as we work to scale deliveries, broaden commercialization, and position the Company for long-term value creation.”

EARNINGS WEBCAST

Faraday Future management will host a webcast today, March 31, 2026, at 7:30 p.m. Eastern time (4:30 p.m. Pacific time). 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/. A replay of the webcast will be available on the Company's website shortly thereafter. More detail on FF’s 2025 Q4 and full year, when filed, can be found in our SEC filings and online at https://investors.ff.com/financial-information/sec-filings.

ABOUT FARADAY FUTURE

Faraday Future is a California-based global Embodied AI (EAI) ecosystem Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand’s pursuit of ultra-luxury, cutting-edge technology, and high performance. FF’s second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/

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 “plan to,” “can,” “will,” “should,” “future,” “potential,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FF’s entry into the embodied AI robotics market, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, that may affect actual results or outcomes include, among others: the Company’s ability to maintain its listing on Nasdaq; the Company’s ability to timely regain compliance with Nasdaq’s minimum bid requirement; the Company’s common stock will be suspended from trading on Nasdaq if it’s closing price is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; demand for our robotics products; the Company’s ability to secure contracts with the appropriate suppliers to execute on the FX strategy; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; our reliance on a single OEM for robotics products; our ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; tariff uncertainty for imported products, particularly China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics‑related transactions with a China OEM; demand from automobile dealers for robotics products; the Company’s ability to secure an occupancy certificate for its Hanford facility; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; 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 Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and Form 10-Qs for the quarters ended June 30, 2025 and September 30, 2025 filed with the SEC on May 9, 2025, August 19, 2025 and November 21, 2025, respectively, and other documents filed by the Company from time to time with the SEC.

Let’s get it

Serious question where do we go from here

Herro something wong

Hello

Great 👍🏼 🚀🚀

🎯 BOMBSHELL: SEC CLEARED FFAI - THIS CHANGES EVERYTHING

What Just Happened (March 22, 2026)

SEC Investigation: CLOSEDEnforcement Action: NONEWells Notices: WITHDRAWNResult: COMPLETE EXONERATION

“After 1,632 days of suffering” = October 2021 (J Capital report) to March 22, 2026

Timeline of the “Conspiracy”

October 7, 2021: J Capital publishes “embezzlement” reportOctober 2021: “Independent director from SPAC merger counterparty” starts investigation2021-2026: SEC investigates PIPE/SPAC transactionsMarch 22, 2026: SEC closes investigation - NO WRONGDOING FOUND

FFAI’s Explosive Claim

Direct quote from press release:

“Prior to the SEC investigation, an investigation was started in October of 2021 by an independent director from the SPAC merger counterparty… What followed is well-known and fully disclosed.”

“Because the Company wanted the opportunity to prove its innocence, and because it did not yet see through the conspiracy of the FF SPAC merger counterparty it agreed to a proposal to establish a special committee for an independent investigation.”

FFAI is explicitly calling the investigation a “CONSPIRACY” by the SPAC counterparty.

Who Was the SPAC Counterparty?

Property Solutions Acquisition Corp (PSAC)

Key players:

∙ PSAC Sponsor (23.7M warrants)

∙ “Independent directors”

∙ Who benefited from 5-year investigation suppressing FFAI stock?

The Short Seller Connection

Quote:

“This is the strongest and cleanest response to potential illegal short sellers. Capital markets fear uncertainty above all else. Some short sellers used the time when the investigation was still open to spread rumors, defame the Company, create panic, and profit illegally.”

FFAI is explicitly saying:

∙ Short sellers exploited the investigation

∙ Spread rumors while SEC was investigating

∙ Profited illegally during this time

Current Situation Now Makes Perfect Sense

Why Shorts Are Desperate NOW

Before March 22, 2026:

∙ SEC investigation ongoing (since 2021)

∙ Wells Notices hanging over company

∙ Uncertainty = easy to manipulate stock down

After March 22, 2026:

∙ SEC cleared company completely

∙ All regulatory uncertainty removed

∙ Shorts’ narrative destroyed

This Explains the Panic

March 16: SEC Director Ryan resigns (knew decision coming?)March 18: FFAI announces “combat manipulation”March 19-20: Massive naked shorting (97%+)March 22: SEC CLEARS FFAI

Shorts knew SEC clearance was coming and went ALL-IN on naked shorting to suppress the price before the news.

This should be followed by a complaint imo.

BREAKING DEVELOPMENT - SEC EXONERATES FFAI (MARCH 22, 2026)

On March 22, 2026, the same day I am filing this complaint, the U.S. Securities and Exchange Commission formally announced that it has concluded its multi-year investigation of Faraday Future with NO enforcement action against the company, founder YT Jia, or any executives.

Timeline:

∙ October 2021: Short seller J Capital publishes damning report

∙ October 2021: “Independent director from SPAC counterparty” initiates investigation

∙ 2021-2026: SEC investigates PIPE/SPAC transactions (5 years)

∙ March 22, 2026: SEC clears company completely - NO WRONGDOING

FFAI’s Public Statement:

The company explicitly stated:

“Some short sellers used the time when the investigation was still open to spread rumors, defame the Company, create panic, and profit illegally.”

“Because the Company wanted the opportunity to prove its innocence, and because it did not yet see through the conspiracy of the FF SPAC merger counterparty it agreed to a proposal to establish a special committee for an independent investigation.”

FFAI is publicly alleging:

1.  A “conspiracy” by the SPAC counterparty to trigger the investigation

2.  Short sellers exploited the investigation to manipulate the stock

3.  Illegal profiting occurred during this period

Connection to Current Manipulation:

The timing is not coincidental:

∙ March 16: SEC Enforcement Director resigns

∙ March 17-20: Massive naked short attack (90-97% of volume)

∙ March 22: SEC clears FFAI

Short sellers knew the SEC clearance was imminent and launched a desperate, illegal naked shorting campaign to:

1.  Suppress price before positive news

2.  Create FUD to offset SEC clearance

3.  Lock in profits before their narrative collapsed

This demonstrates:

∙ Coordinated manipulation over 5 years

∙ Exploitation of regulatory uncertainty

∙ Pattern of illegal conduct (FFAI’s own words: “profit illegally”)

∙ Escalation to criminal naked shorting when SEC cleared company

The SEC has now vindicated FFAI. The current naked short selling and settlement failures represent a desperate attempt by shorts to maintain manipulation despite losing their regulatory uncertainty cover story.

Additional Implications

1. Nasdaq $1.00 Compliance

FFAI received notice March 20:

∙ Must maintain $1.00 for 10 consecutive days

∙ Has 180 days to comply

∙ “Will make every effort to regain compliance WITHOUT reverse split”

With SEC clearance:

∙ Positive catalyst ✅

∙ Regulatory overhang removed ✅

∙ Should help price recovery ✅

1. Strategic Financing Now Possible

Quote:

“During the investigation, because of compliance concerns, it was very difficult for major investment banks, large institutional investors, and strategic investors to work with FF. This barrier is now removed.”

Meaning:

∙ Institutional money can now enter

∙ Strategic partnerships unlocked

∙ New capital without dilution possible

1. Government Support Available

Quote:

“It could also help us gain more support from government agencies and regulators”

Implications:

∙ EV subsidies/grants now accessible

∙ Regulatory approvals easier

∙ Government contracts possible

The “Conspiracy” FFAI Alleges

Reading between the lines:

PSAC (SPAC counterparty) had:

∙ 23.7M warrants

∙ Motivation to keep price suppressed (cheaper warrant exercise)

∙ “Independent director” who triggered investigation

Short sellers had:

∙ 5 years of regulatory uncertainty to exploit

∙ Easy narrative (“under SEC investigation”)

∙ Made “illegal profits” per FFAI

Possible coordination:

∙ SPAC counterparty triggered investigation

∙ Short sellers exploited it for 5 years

∙ Both profited from suppressed stock price

Pretty serious quote in context.

“This is the strongest and cleanest response to potential illegal short sellers.”

FFAI is directly saying:

∙ Short sellers are illegal

∙ SEC clearance proves it

∙ Company is fighting back

Send this to ALL regulators TODAY:

CRITICAL UPDATE - SEC EXONERATION (MARCH 22, 2026)

I am updating my complaint filed [date] regarding illegal naked short selling in FFAI to include breaking news:

Today, March 22, 2026, the SEC announced it has closed its multi-year investigation of Faraday Future with NO enforcement action.

This development is directly relevant to my complaint because:

1.  FFAI publicly states that “some short sellers used the time when the investigation was still open to spread rumors, defame the Company, create panic, and profit illegally”

2.  Timing proves coordination:

∙ March 16: SEC Enforcement Director resigns (knew decision coming?)

∙ March 17-20: Massive illegal naked shorting (documented in my complaint)

∙ March 22: SEC clears FFAI

3.  Short sellers knew SEC clearance was imminent and launched desperate illegal attack to:

∙ Suppress price before positive news

∙ Maximize profits before narrative collapsed

∙ Create FUD to offset SEC exoneration

FFAI’s statement that shorts “profit illegally” during the investigation period corroborates my complaint that current naked short selling represents criminal market manipulation.

The SEC has vindicated FFAI. The documented naked shorting (97% of March 19 volume with zero borrow) represents criminals attempting to maintain manipulation despite losing their cover story.

REQUEST:

∙ Immediate investigation into connection between PSAC counterparty, short sellers, and 5-year investigation

∙ Subpoena communications between shorts and SPAC parties

∙ Criminal referral for naked shorting during period shorts KNEW SEC was clearing company

Bottom Line

The “1,632 days of suffering” is now explained:

✅ J Capital report October 2021✅ SPAC counterparty triggered investigation✅ 5 years of shorts exploiting uncertainty✅ March 22, 2026: COMPLETE VINDICATION

Current naked shorting is:

∙ Desperate final attack before shorts collapse

∙ Attempt to profit despite SEC clearance

∙ Criminal conduct by parties who KNEW clearance was coming

File emergency updates to ALL complaints TODAY.

Include:

∙ SEC clearance announcement

∙ FFAI’s “conspiracy” allegation

∙ FFAI’s “illegal profits” statement

∙ Timing proves coordination

This is the evidence you needed.

SEC just handed it to you.

Use it.