FF recently delivered an FF 91 2.0 Futurist Alliance to Motev, a leader in sustainable luxury transportation services that operates a fleet of luxury vehicles in Southern California. Pictured here are Robert Gaskill, CEO, Motev LLC (L), Tiffany Hinton, Chief Operations Officer, Motev LLC (C), Matthias Aydt, Global CEO of Faraday Future (R). (Photo: Business Wire)FF recently delivered an FF 91 2.0 Futurist Alliance to Motev, a leader in sustainable luxury transportation services that operates a fleet of luxu ...

Core Insights - Faraday Future has completed nearly 1,600 over-the-air (OTA) upgrades for its FF 91 2.0, including 752 new features and 846 improvements, enhancing user experience and technology [1][2] - The upgrades reflect industry trends focused on AI, hyper-connectivity, and user-centric co-creation [1] - A notable feature is the first in-vehicle sporting events recommendation system, integrating live broadcasts for a home-like experience [1] Group 1 - The OTA upgrades improve smartphone-vehicle interaction, making functions more intuitive and user-friendly, including control of in-car screens and entertainment [2] - New vehicle-control features allow simultaneous or individual control of each door, and one-touch zero-gravity seat adjustments enhance comfort [2][3] - Feedback from Co-Creation Officers led to significant upgrades, including simultaneous video viewing in front and rear rows [3] Group 2 - The introduction of the Co-Creation app documents contributions from users, and the vehicle control app has been optimized for better performance [4] - Faraday Future positions itself as a pioneer in the AI TechLuxury market, aiming to disrupt traditional luxury car brands [5] - The company is dedicated to advancing electric vehicle technology and creating a shared intelligent mobility ecosystem [5]

Business Highlights - Faraday Future delivered the first FF 91 2.0 Futurist Alliance to its first spire user and kicked off its August Developer Co-Creation Festival[41] - The FF 91 2.0 Futurist Alliance Track Edition set a record in its class at Willow Springs, achieving the fastest lap time of 1 minute and 35 seconds[44] - FF 91 2.0 Futurist Alliance broke the fastest lap record in the SUV and crossover categories at Button Willow Raceway Park[44] Financial Performance (Third Quarter 2023) - Auto sales revenue reached $551 thousand[60] - Cost of auto sales revenue was $16131 thousand, resulting in a gross loss of $15580 thousand[60] - Research and development expenses were $21593 thousand[60] - Sales and marketing expenses totaled $5318 thousand[60] - General and administrative expenses amounted to $24023 thousand[60] - Net loss was $78046 thousand, or $378 per share[60] Financial Position (September 30, 2023) - Cash was $6714 thousand and restricted cash was $1853 thousand, totaling $8567 thousand[61,63] - Total current assets were $127301 thousand, including $35215 thousand in inventory and $62556 thousand in deposits[61] - Total assets amounted to $579527 thousand[61] - Total liabilities were $317724 thousand[61] - Total stockholders' equity was $261803 thousand[61]

Faraday Future Intelligent Electric, Inc. (NASDAQ:FFIE) Q3 2023 Earnings Conference Call November 13, 2023 7:30 PM ET Company Participants Jonathan Maroko - Interim CFO Matthias Aydt - Global CEO Conference Call Participants Michael Ward - The Benchmark Co. Stephen Gengaro - Stifel Laura Li - Deutsche Bank Operator Greetings, and welcome to the Faraday Future Intelligent Electric Third Quarter 2023 earnings call. At this time, all participants are in a listen-only mode. A brief question-and-answer session w ...

Patents and Technology - FF has been granted approximately 660 patents globally as of November 7, 2023[250]. - FF's advanced Internet Artificial Intelligence (I.A.I.) technology supports high-performance computing and Level 3 autonomous driving readiness[249]. - FF's modular Variable Platform Architecture (VPA) facilitates entry into the last-mile delivery segment, expanding its total addressable market[252]. Vehicle Production and Delivery - FF plans to produce and deliver the FF 81, a premium mass-market electric vehicle, subject to future financing, to compete against Tesla Model S and BMW 5-series[252]. - The FF 71, a mass-market passenger vehicle, is expected to start production and deliveries after the FF 81, targeting competition with Tesla Model 3 and BMW 3-series[252]. - The first FF 91 2.0 Futurist Alliance was delivered in the first half of 2023, marking the start of production for this ultra-luxury electric vehicle[250]. - The company began production of the FF 91 Futurist in March 2023 and started deliveries in August 2023[266]. - FF's B2C passenger vehicle pipeline over the next five years includes the FF 91 series, FF 81 series, and FF 71 series[250]. - All FF vehicles are expected to be available for sale in the U.S. and China, with potential expansion to European markets[253]. Financial Performance - Automotive sales revenue was $0.6 million for the three months ended September 30, 2023, marking the start of vehicle deliveries[282]. - Automotive sales revenue was $0.6 million for the nine months ended September 30, 2023, with vehicle deliveries starting during this period[304]. - The Company reported a net loss of $347.9 million for the nine months ended September 30, 2023, compared to a net loss of $414.7 million in the same period of 2022[303]. - The Company recognized a loss on settlement of related party notes payable of $17.2 million during the nine months ended September 30, 2023, with no prior period loss reported[320]. - The Company reported a loss on settlement of notes payable of $204.9 million for the nine months ended September 30, 2023, compared to a loss of $30.5 million in the same period of 2022, representing a 573% increase[319]. Expenses and Cost Management - The company incurred significant operating costs, including R&D expenses, capital expenditures, and selling and distribution expenses, impacting future profitability[264]. - Research and development expenses decreased by 60% to $104.7 million for the nine months ended September 30, 2023, due to the completion of R&D activities related to the FF 91 Futurist vehicle[308]. - Sales and marketing expenses increased by 12% to $18.1 million for the nine months ended September 30, 2023, attributed to higher professional services and resource allocation[309]. - General and administrative expenses decreased by 24% to $67.6 million for the nine months ended September 30, 2023, due to cost-saving measures and reduced professional services expenses[310]. - The company expects R&D expenses to decrease in the near future as it has substantially completed R&D activities related to the FF 91[273]. Capital and Financing - The Company has secured commitments totaling $513.5 million in convertible note financing since August 14, 2022, with $300.2 million funded to date[329]. - FF is exploring various funding alternatives, including equipment leasing and equity offerings, to support ongoing operations and production ramp-up[336]. - The company has an accumulated deficit of $3.87 billion and a cash balance of $6.7 million as of September 30, 2023[326]. - The company had net cash provided by financing activities of $237.6 million for the nine months ended September 30, 2023, a significant increase from net cash used of $40.9 million in the same period of 2022[348]. - The company had operating and financing lease obligations of $37.0 million as of September 30, 2023, with approximately $7.2 million due within the next 12 months[341]. Stock and Shareholder Actions - The board approved a reverse stock split ratio of 1-for-80, reducing the number of authorized shares of Common Stock to 154,437,500[260]. - The Class A Common Stock began trading on a split-adjusted basis on August 28, 2023, under the symbol "FFIE" with a new CUSIP number[261]. - FF sold 837,500 shares of Class A Common Stock for $7.3 million under the Standby Equity Purchase Agreement during the three and nine months ended September 30, 2023[333]. - The Company plans to issue up to $300 million in Class A Common Stock and/or warrants under a Shelf Registration declared effective on June 28, 2023[334]. Cash Flow and Liquidity - The company reported net cash used in operating activities of $240.4 million for the nine months ended September 30, 2023, compared to $355.1 million for the same period in 2022, indicating a reduction of approximately 32.3%[344][346]. - The company experienced negative cash flows from operations primarily due to investments in research and development, with $87.5 million allocated to R&D expenses for the nine months ended September 30, 2023[345]. - As of September 30, 2023, the company had cash on hand totaling $6.7 million, which is intended for working capital and general corporate purposes[342]. Debt and Liabilities - As of September 30, 2023, the company had outstanding notes payable to related parties totaling $12.2 million, with $3.8 million due on demand and $5.1 million scheduled to become due in December 2023[340]. - The company was in default on the Secured SPA Notes as of September 30, 2023, but the holders subsequently waived the default[338]. - The company has been in breach of its debt agreement with Chongqing Leshi Small Loan Co., Ltd., with an outstanding principal balance of $4.5 million, resulting in an increased interest rate of 18% per annum[338]. - The company had $135.1 million in aggregate principal amount of notes payable to third parties as of September 30, 2023, with $4.8 million due on demand[340].

Financial Data and Key Metrics Changes - Faraday Future reported an operating loss of $56.0 million for Q2 2023, a significant reduction from an operating loss of $137.5 million in Q2 2022, primarily due to decreased engineering and design costs as R&D activities were largely completed [16][17] - The net loss for Q2 2023 was $124.9 million, compared to a net loss of $141.7 million in Q2 2022, attributed to lower operating expenses [18] - Total assets increased to $567.5 million as of June 30, 2023, from $529.3 million at the end of 2022, while total liabilities decreased to $289.8 million from $328.3 million [18][19] - The accumulated deficit reached approximately $3.8 billion as of June 30, 2023 [18][22] Business Line Data and Key Metrics Changes - The company has transitioned from a project-based focus to operational efficiency, with plans to triple the manufacturing team and add a second shift to support increased production volumes [12][16] - The FF 91 2.0 Futurist Alliance vehicle has been highlighted as a key product, showcasing advanced performance metrics such as 1,050 horsepower and a range of 381 miles [13][14] Market Data and Key Metrics Changes - The company aims to establish a strong presence in the ultra-high-end vehicle market, particularly in China, which is the largest global automotive market [26] - The production capacity at the Hanford facility is expected to be approximately 10,000 vehicles per year, with a focus on brand recognition rather than high volume at this stage [24][25] Company Strategy and Development Direction - Faraday Future is focusing on brand building and creating a community of enthusiastic ambassadors for the FF 91 vehicle, with a strategic approach to vehicle delivery [31][33] - The company is implementing a Developer Co-Creation initiative to engage users in product development, enhancing brand image and product quality [49][50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving operational efficiency and profitability, with a goal of reaching cash flow breakeven by 2025 [22][27] - The company is committed to improving internal controls over financial reporting and has made significant progress in this area [27][37] Other Important Information - The company secured $100 million in gross financing through unsecured convertible notes, with $80 million pledged by FF Global Partners [20][21] - The company has restated financial statements for previous quarters to correct identified misstatements [27] Q&A Session Summary Question: What types of volumes do you expect in the back half of this year and for 2024? - Management indicated a cautious approach to production ramp-up, focusing on brand recognition rather than volume at this stage [31][32] Question: Any guidance on volumes needed for cash flow or EBITDA breakeven? - Management acknowledged internal targets but was not ready to disclose specific figures publicly [34][35] Question: Can you provide more details on internal controls improvements? - Management confirmed significant improvements in internal controls over the past year, with a goal to remediate material weaknesses by early 2024 [36][37] Question: What are the expected production unit deliveries for 2023? - Management refrained from providing specific numbers but indicated that 2024 would see a ramp in production [39][41] Question: What customer support services are being implemented? - Management outlined a comprehensive suite of after-service offerings, including mobile service and roadside assistance [45][46] Question: Can you elaborate on the Co-Creation strategy? - Management described the Co-Creation initiative as a unique approach to engage users in product development, enhancing both product quality and brand perception [48][50]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File Number: 001-39395 Faraday Future Intelligent Electric Inc. (Exact name of registrant as specified i ...

Faraday Future Intelligent Electric, Inc. (NASDAQ:FFIE) Q1 2023 Earnings Conference Call May 11, 2023 9:30 AM ET Company Participants Charles Hsieh - Investor Relations XF Chen - Global Chief Executive Officer & Director Matthias Aydt - Global Senior Vice President, Product Execution Prashant Gulati - Head, Strategy Yun Han - Chief Accounting Officer and Interim Chief Financial Officer Conference Call Participants Stephen Gengaro - Stifel, Nicolaus & Company Edison Yu - Deutsche Bank Operator Greetings. Wel ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File Number: 001-39395 Faraday Future Intelligent Electric Inc. (Exact name of registrant as specified ...

Faraday Future Intelligent Electric Inc. Fiscal Fourth Quarter and Full Year 2022 Earnings Release Legal Disclaimers Forward Looking Statements This presentation includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Secur ...