Faraday Future Announces Updated Master Plan 1.1 to Strategically Position Itself for Growth in 2024 - Seite 2

The Middle East market presents exciting opportunities for smart and autonomous vehicles and is well aligned with FF product technology and brand positioning. We look forward to this being our first of many future endeavors and collaborations in the Middle East.

We believe that the FF 91 2.0 is a vehicle uniquely positioned to provide new markets representing a new generation of aiEV users with a fully integrated, optimized software and hardware architecture to create a true All-Ability Hypercar. This vehicle includes full connectivity and personalized AI services and features.

Key Deliverables Since Previous Announcement of FF’s Master Plan on October 2023

• Gradually evolving the corporate orientation and direction towards a continuous operation with similar priorities in regard to production and sales as well as enhancing the product power of the product palette.
• Actively managing costs and expenses and focusing on improving Company-wide efficiency.
• Expanding our market presence into TechLuxury markets beyond the U.S with adequate volumes.
• Focusing on cashflow breakeven and next growth steps.
• Continuous product and technology enhancements to maintain unique position in the market.
• Took action to investigate short selling to protect shareholder interest.

Have resulted in:

• A lean and flat organization dedicated to Product Definition, Product Execution, Product Delivery, User Operation, Corporate Development and supporting functional areas.
• Manufacturing, supply chain and product quality improvements.
• Reasonable cost structure and optimized costs and expenses.
• A successful market launch in one of the most important TechLuxury markets, the UAE.
• Confirmation of a solidified execution plan for 2024 and 2025 and beyond with clearer projection of profitability.
• A start of definition and conceptualization of the next generation revolutionizing product enhancement.
• Communications with various securities brokers regarding our short selling analysis.

Product and Technology

FF 91 comes from our disruptive approach to innovation across intelligent technology, user-centric design, and EV propulsion. It is a user-centric experience designed for people with many talents, many obligations and many goals in life. FF has addressed these complex needs in a single vehicle that combines the luxury of an intelligent connected space, with the capabilities of a hyper-dynamic EV powertrain and predictive AI architecture. Together, these elements work to elevate a user’s potential, and provide them the ultimate freedom to do what they want, when they want and how they want.