Faraday Future Enters into Amendments with Existing Investor to Reduce $5 Million Outstanding Convertible Notes Obligations

• The remaining balance on such note shall be exchanged into a non-convertible debt obligation, repayable in cash within six months, to further reduce shareholder dilution by approximately 25.16%, as calculated at $5.00 per share conversion floor price.
• The Company continues to take steps to support its robotics strategy, and these amendments represent FF’s latest action to clear the overhang of potential dilution while optimizing the Company’s capital structure.

Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) ("Faraday Future", "FF" or the "Company"), a California-based global Embodied AI (EAI) ecosystem company, today announced that it has entered into amendments to the convertible note issued by the Company to an existing investor ("Investor") and the Deposit Account Control Agreement with the Investor and East West Bank under the May 2026 Financing (the "Amendments"). Under the Amendments, FF will return the $5.0 million of restricted cash currently held in the DACA account, resulting in a corresponding reduction in the Company’s outstanding notes obligations.

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