Faraday Future Intelligent Electric (FFIE) Provides Update on Actions to Fight Illegal Trading Activities

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) today announced that it has completed the first phase analysis of identifying potential illegal trading activity, and is taking additional steps to help mitigate such activity with ShareIntel-Shareholder Intelligence Services, LLC into a second phase of work.

As announced in October of this year, FF engaged ShareIntel to help identify potential illegal short selling and other abusive trading activities. To date, ShareIntel's DRIL-Down™ analysis has identified reporting imbalances in FF’s shares that may be material to FF’s public float and average daily trading volume. These imbalances may be a byproduct of non-compliant or illegal trading activities and may indicate that certain traders have sold but failed to deliver a significant number of shares of FF’s common stock.

Matthias Aydt, Global CEO of FF, commented, "Based on the findings of ShareIntel's analysis to date, we are deeply concerned that FF may have been the target of a market manipulation scheme involving illegal short selling. FF’s Board and management are committed to protecting our investors and maximizing shareholder value, and we will take all actions necessary to ensure FF is not the target of market manipulation. We will continue to work with ShareIntel to combat potentially manipulative and egregious illegal short selling and trading activities to help ensure fair market conditions."

"ShareIntel tracks share ownership and monitors critical broker-dealer and shareholder movements," said David Wenger, President and Chief Executive Officer of ShareIntel. "We look forward to continuing efforts to help Faraday Future Intelligent Electric Inc. identify parties to potentially abusive and illegal naked short selling, implement action plans to mitigate such activity and help maximize shareholder ownership transparency."

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