Faraday Future Announces Appointment of Interim Chief Accounting Officer and Chief Financial Officer, and Advancement of Funding

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GARDENA, Calif.–(BUSINESS WIRE)–Faraday Future Intelligent Electric Inc. (“Faraday Future” or the “Company”) (NASDAQ: FFIE), a California-based shared intelligent electric mobility global ecosystem company, today announced the appointment of Yun Han as Acting Chief Accounting Officer and Chief Financial Officer, effective October 25, 2022. Ms. Han replaces Becky Roof, who served as Acting Chief Financial Officer until October 12, 2022, and is helping the Company transition ordered.

Prior to joining Faraday Future, Ms. Han was Senior Vice President and Chief Accounting Officer at Romeo Power, Inc (NYSE: RMO). She was previously vice president and controller at Immunity Bio, Inc. (NASDAQ: IBRX) and held other senior accounting and finance positions at various companies. Previously, she spent over 13 years with the technical accounting and auditing practice of Price Waterhouse Coopers LLC. She is a Chartered Accountant in the State of California and a graduate of the University of Southern California.

“I am delighted to welcome Ms. Han as Acting Chief Accounting Officer and Chief Financial Officer. Yun’s background, education and industry experience make her ideal to join Faraday Future’s leadership team. I look forward to working closely with her to further strengthen our finance and accounting team and to raise the additional funds needed to deliver on our promise to bring the FF 91 to market as quickly as possible,” said Dr. Carsten Breitfeld, Global CEO. by Faraday Future.

The company also announced that it has received all of the previously announced $55 million in funding (other than $5 million in additional bridge tickets) from an affiliate of ATW Partners LLC as planned and expects to receive the first $10 million under the previously announced $60 million financing agreement. this week. Certain additional products are subject to the achievement of additional milestones and other factors, as set forth in the Company’s Form 8-K dated October 25, 2022. The Company filed a Form 8-K on October 26, 2022 which provides additional information on the company’s current results. financial situation.

The Company continues to work diligently to raise the additional funds needed to fund its operations through the start of production, first deliveries and beyond. “Faraday Future appreciates the efforts of our largest shareholder, FF Top Holdings LLC, as well as the outstanding work of my fellow board member, Bob Ye, who have both been instrumental in securing these new funds that bring us closer to delivering FF 91,” said Dr. Breitfeld. “Our factory is nearing completion, our car meets or exceeds performance specifications, and when we bring the FF 91 Futurist to market, we will reset consumer expectations of what a TechLuxury smart car should be,” continued the Dr. Breitfield.

Users can pre-order an FF 91 Futurist through the FF Intelligent app or through our website (in English): https://www.ff.com/us/preorder/ or (in Chinese): https://www. ff.com/cn /Pre-order/

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

ABOUT FARADAY FUTURE

Faraday Future is a class-defining luxury electric vehicle company. The company has launched many innovations regarding its products, technology, business model and user ecosystem since its inception in 2014. Faraday Future aims to continuously improve the way people move by creating a mobility ecosystem before -thinking that integrates clean energy, AI, the Internet and new models of use. Faraday Future’s first flagship is the FF 91 Futurist.

FOLLOW FARADAY FUTURE:

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http://appdownload.ff.com

https://twitter.com/FaradayFuture

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

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

www.linkedin.com/company/faradayfuture

NO OFFER OR SOLICITATION

This communication will not constitute an offer to sell or the solicitation of an offer to buy securities, and there will be no sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

FORWARD-LOOKING STATEMENTS

This press release contains “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 “believe”, “expect”, “anticipates”, “expects”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “proposes” and variations of these words or similar expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, which could lead to actual results or results. differ materially from those discussed in the forward-looking statements. Important factors, among others, that could affect actual results or results include the Company’s ability to satisfy the conditions precedent and to close the various financings previously disclosed by the Company, the failure of one of between them which may lead the Company to seek protection under the Bankruptcy Code; the satisfaction of conditions to the pre-approval by FF Top and Season Smart Limited of warrants and notes issued to affiliates of ATW Partners LLC and Daguan International Limited; the Company’s ability to agree on definitive documents to effect governance changes with FF Top; the Company’s ability to remain in compliance with its public filing requirements under the Securities Exchange Act of 1934, as amended, and the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on the Nasdaq; the outcome of the SEC’s investigation of the matters investigated by the special committee; the Company’s ability to execute its development and commercialization plans for its vehicles and the timing of these development programs; the Company’s estimates of the size of markets for its vehicles and the cost of bringing such vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and safety of the Company’s vehicles; potential litigation involving the Company; the outcome of future financing efforts and general economic and market conditions affecting demand for the Company’s products; recent cost, headcount and wage reduction measures may not be sufficient or achieve the desired results; and the Company’s ability to attract and retain employees, including a replacement auditor. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-1/A filed October 7, 2022, and other documents filed by the Company from time to time. time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. except as required by law. .

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