Faraday Future Intelligent Electric Inc. announced that after an assessment by the Board of Directors of FF regarding the Company's management organizational structure, the Board has approved that Mr. Yueting Jia will now report directly to the Board (alongside the Global CEO, Mr. Chen). Based on the changes to his responsibilities within the Company, the Board determined that Mr. Jia is an “officer” of the Company within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and an “executive officer” of the Company under Rule 3b-7 under the Exchange Act. Moving forward, both Mr. Jia and Mr. Chen will report to the Board directly.

The Board also approved the Company's Product and Mobility Ecosystem, I.A.I, and Advanced R&D Technology departments will directly report into Mr. Jia, and the Company's User Ecosystem, Capital Markets, Human Resources and Administration, Corporate Strategy, and FF China departments will report to both Mr. Jia and Mr. Chen, subject to processes and controls to be determined by the Board after consultation with the Company's management. The Company's remaining departments including Finance will continue to report to Mr. Chen with a single reporting line. The Board has agreed to promote Mr. Jia, the Company's founder and CPUO, to the position of Section 16 officer and executive officer considering the significant, unique, and indispensable long-term value of Mr. Jia to the Company's product and technology innovation, I.A.I, advanced technology, product and technology power and future development, and his significant contributions to the Company's recent financing and the approval of proposals such as increasing authorized shares at the recent special stockholders meeting, among other things.

The decision was made after careful consideration.