• Company Announces Employee Incentive Plan 

LOS ANGELES / Aug 24, 2023 / Business Wire / Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) ("Faraday Future", “FF” or "Company"), a California-based global shared intelligent electric mobility ecosystem company, shared a video interview with Sandra Button, Chair of Pebble Beach Concours d'Elegance, the World’s top luxury car collection exhibition. The discussion included enlightening automotive trends and an interview hosted by World champion race car driver Justin Bell. Mr. Bell recently joined the second group of FF 91 2.0 Futurist Alliance spire users and became an FF Developer Co-Creation Officer.

Mr. Bell interviewed YT Jia, Faraday Future Founder and CPUO, along with Faraday Future’s Head of Product and Mobility Ecosystem, Max Ma.

“We are grateful to be part of one of the most renowned luxury events in the automotive industry, we hope our presence as an electric vehicle and AI focused company serves as a Pebble Beach Concours d'Elegance bridge to the future,” said YT Jia, FF Founder & CPUO (Chief Product and User Ecosystem Officer). “Powered by the All-Ability aiHypercar, FF aims to be an industry leader with our FF 91 2.0 Futurist Alliance. Faraday Future is committed to breaking down traditional perceptions and redefining what holds value in the future of the automotive industry.”

Please watch the full interview video with Sandra Button, YT Jia, and Max Ma here: https://youtu.be/7qgl3hZJ4Uc?si=tP8OjDayceilnQk4

The Company also announced an amendment to its previously approved incentive plan related to Phase 2 deliveries plan for its executives and employees. All active employees that began employment at the Company prior to July 1, 2023 will get cash bonuses and equity incentive awards upon certain conditions surrounding the latest delivery milestone among other conditions.

The amendment to the incentive plan reflects FF's emphasis on talent. Employees are the core asset of FF. Strong alignment with core employees and executives through equity incentives is particularly important for the realization of the Company's medium and long-term strategic goals. This incentive plan can help to ensure the stability and continuous development of FF core team in the increasingly fierce talent competition.

Users can preorder an FF 91 2.0 Futurist Alliance vehicle via the FF App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF App: https://www.ff.com/us/mobile-app/.

ABOUT FARADAY FUTURE

FF is the pioneer of the Ultimate Intelligent TechLuxury ultra spire market in the intelligent EV era, and a disruptor of the traditional ultra-luxury car industry. FF is not just an EV company, but also a software-driven company of intelligent internet AI product.

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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 “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company’s ability to meet its future production and delivery plan and the Company’s ability to incentivize its employees and executives, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs (including timely receipt of parts); the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; 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 Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (“SEC”) on August 21, 2023, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.