Faraday Future Announces “At-the-Market” Equity Offering Program

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, announced today that it has entered into an At-the-Market (“ATM”) equity offering sales agreement (the “Agreement”) under which the Company may, from time to time, offer and sell shares of its Class A common stock (the “Shares”) having an aggregate value of up to $90.0 million, through the sales agents.

Sales of Shares, if any, will be made at or related to then prevailing market prices and, as a result, prices may vary. The volume and timing of sales under the ATM program will be determined at the Company’s discretion. The Company expects to use any proceeds from the ATM program for general working capital and corporate purposes, which may include investment in product and technology development, establishment of global sales and service networks, ramp-up of production, repayment or repurchase of outstanding debt, capital expenditures, potential joint ventures, acquisitions and other business opportunities and purposes.

Stifel and B. Riley Securities are serving as lead sales agents, and A.G.P./Alliance Global Partners, Wedbush Securities and Maxim Group LLC are serving as additional sales agents (collectively, the “Agents”).

Under the Agreement, the Agents may sell the Shares by methods deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Stock Market, the existing trading market for the Shares, sales made to or through a market maker other than on an exchange or otherwise, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, and/or any other method permitted by law, including in privately negotiated transactions.

The Shares will be offered under the Company’s existing effective shelf registration statement (including a prospectus) filed with the Securities and Exchange Commission (“SEC”). A prospectus supplement related to the offering has been filed with the SEC. Any offer, solicitation or sale will be made only by means of the prospectus supplement and the accompanying prospectus. Current and potential investors should read the prospectus in the registration statement, and the prospectus supplement relating to the ATM program and other documents the Company has filed with the SEC for more complete information about the Company and the ATM program.

A copy of the prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting: Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by telephone at (415) 364-2720, or by email at [email protected]; B. Riley Securities, Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209, by telephone at (703) 312-9580, or by email at [email protected]; A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, by telephone at (212) 624-2060, or by email at [email protected]; Wedbush Securities Inc., Attention: Equity Capital Markets, 600 Montgomery Street 29th Floor, San Francisco, California 94111, or by telephone at (213) 688-8000; or Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, by telephone at (212) 895-3500, or by email at [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor may there be any sale of the Company’s Class A common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any state or jurisdiction.

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