Faraday Future Publishes Results of Annual General Meeting

LOS ANGELES – Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI), a California-based electric vehicle (EV) company, today announced the results of its Annual General Meeting of Stockholders (the “Annual Meeting”). Stockholders approved key proposals designed to bolster the company’s financial standing and empower its strategic plan, including the launch of FX vehicle production by the end of 2025.

• Shareholders gave the green light to initiatives aimed at strengthening Faraday Future’s financial health and enabling strategic execution, specifically focusing on the production of FX vehicles and the launch of the FX Super One by the close of 2025.
• The company expressed its gratitude to all stockholders for their support, acknowledging their recognition of the company’s strategy, business direction, and the newly formed management team.
• The 29% increase in authorized shares reflects the company’s commitment to responsible dilution management.
• Faraday Future remains steadfast in its pledge against a reverse stock split, contingent upon adherence to Nasdaq listing requirements, and in upholding its “Stockholders First” commitment.
• The 2025 FFAI Annual Stockholders’ Day is scheduled for Los Angeles on May 31. The event aims to promote open and direct communication with investors.

“We are pleased with the strong backing from our stockholders at the recent Annual Meeting,” stated YT Jia, Faraday Future’s Founder and Co-CEO. “As valued stakeholders, our shareholders understand the long-term value of our strategy and have provided the necessary tools to execute our plan, driving us towards our vision of leading the intelligent electric vehicle industry.”

Key proposals approved by FF stockholders at the Annual Meeting included:

1. Election of Directors

Each member of the Company’s Board of Directors – Matthias Aydt, Chad Chen, Chui Tin Mok, Jie Sheng, and Lev Peker – secured reelection with support exceeding 95%. The reelection of these accomplished business leaders ensures continuity and strategic oversight in achieving FF’s long-term strategic objectives.

2. Private Placement

Stockholders approved the issuance of Common Stock to holders of certain convertible notes and warrants, in accordance with Nasdaq Listing Rule 5635(d). This decision is expected to strengthen the Company’s financial footing, supporting the fulfillment of financial obligations, maintaining Nasdaq listing compliance, and positioning the Company for future financing rounds to drive its strategy forward.

3. Share Authorization Proposal (without Affecting Current Total Shares Outstanding)

Shareholders approved an amendment to increase the number of authorized shares:

1. Increasing the number of authorized shares of the Company’s common stock by 38,000,000 shares from 129,245,313 to 167,245,313 shares.
2. Increasing the number of authorized shares of the Company’s preferred stock by 2,900,000 shares from 10,000,000 to 12,900,000 shares, resulting in a total increase in authorized shares (Common and Preferred Stock) from 139,245,313 to 180,145,313 shares.

This boosted share authorization supports planned strategic growth, including the FX Super One debut by year-end, and allows exploration of M&A opportunities, joint ventures, and fundraising in line with FF’s strategy to enhance the FF and FX brands and advance the FX Bridge Strategy.

With the strong support of stockholders, FF is progressing towards its long-term strategic plan, especially its FX strategy.

The company is targeting the first FX vehicle to roll off the production line by the close of 2025, with notable milestones including:

• FX prototype mules are approved for public road testing. FF has initiated testing of several prototype mules in different road settings, including real-world tests of advanced driver-assistance systems.
• The release of the FX’s first planned production model, the Super One, is on schedule for a summer unveiling.
• FF has received a positive response to the Super One, including feedback from U.S. consumers, dealers, fleet operators, and rental partners.

Faraday Future reaffirmed its dedication to transparency and market communication with stockholders, as well as enhancing shareholder value. The Company reiterated its efforts to optimize its capital structure and is steadfast in its pledge against a reverse stock split, unless required by Nasdaq listing standards.

FF plans to strategically allocate proceeds from equity and convertible debt offerings, supporting business development while balancing value creation and prudent dilution.

Furthermore, demonstrating confidence in shareholder value creation, FF Founder and Co-CEO YT Jia, along with FF Global President Jerry Wang, have announced 10b5-1 purchase plans, collectively covering $610,000 in common stock.

ABOUT FARADAY FUTURE

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Established in 2014, the Company is on a mission to disrupt the automotive industry by creating a user-centric, technology-first, and intelligent driving experience. Faraday Future’s flagship model, the FF91, embodies its vision of luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with cutting-edge luxury technology similar to the FF 91, targeting a broader market with vehicles priced in the middle-to-low range. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For additional details, please visit https://www.ff.com/us/

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. These statements, which include phrases like “plan to,” “can,” “will,” “should,” “future,” and “potential,” or similar expressions, are not guarantees of future performance but involve risks and uncertainties. These forward-looking statements address future M&A opportunities, joint ventures and fundraising, the FX brand, the Super One MPV, future FX models, future FX reservations, use of capital and 10b5-1 purchase plans, and are subject to numerous factors, many beyond the Company’s control, that could cause actual results to differ. Important factors that may affect actual results include market demand, the Company’s ability to secure necessary funding for its AI, EREV and Faraday X (FX) strategies, competition, the Company’s ability to execute its various strategies, its ability to secure necessary agreements and permits for operations, and the possibility of litigation, among others. You should carefully consider the factors and risks outlined in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and other documents filed from time to time with the SEC.