REE Automotive appoints two new members of the Board of Directors

TEL-AVIV, Israel – (COMMERCIAL THREAD) – REE Automotive Ltd. (NASDAQ: REE), a leader in electric mobility, today announced that it has expanded its board of directors by appointing two new independent members. The additional board members deepen and diversify its leadership as the company moves towards technological maturation and commercial production in 2023.

REE has appointed seasoned veterans, Ms. Michal Brikman and Ms. Lilach Geva-Harel, who bring extensive expertise in public finance, corporate governance and sustainability. The Board of Directors also announced the resignation of Mr. Ari Raved from the Board of Directors of REE after more than seven years of distinguished service.

Daniel Barel, Co-Founder and CEO of REE: “As REE continues to grow and execute our business plan, we welcome new independent members to the Board of Directors who will contribute in efforts to guide our vision and achieve our aim to become the cornerstone of e-mobility. Lilach and Michal bring to their roles as independent directors strong and diverse expertise and leadership in mobility, technology, energy and finance, and we are grateful to Ari for his many years of service, strategic advice and role in the growth of REE to a public enterprise level. I look forward to continuing to work with our Board of Directors and implement our ESG vision as we move towards commercialization and move towards a zero emissions future. ”

Lilach Geva-Harel leads global compliance as well as regulatory and government relations as executive vice president and global general counsel of ICL Group (NYSE: ICL), a global specialty minerals company. She has over two decades of leadership experience advising boards, leading corporate governance and operating in complex regulatory environments.

Michal Brikman specializes in financial and commercial structures, business transactions and corporate governance, as a member of the Board of Directors of Partner Communications (NASDAQ: PTNR). She has significant experience on the boards of directors of public companies, including serving as head of the technology committee of Union Bank and head of the audit, finance and compensation committees of the largest corporations. public institutional investment in Israel.

About REE

REE is a leader in automotive technology that is creating the cornerstone of tomorrow’s zero emission vehicles. REE’s mission is to enable global mobility companies to build any size or shape of electric or autonomous vehicle – from Class 1 to Class 6 – for any application and any target market. Our revolutionary and award-winning REEcorner technology integrates traditional vehicle drive components (steering, braking, suspension, powertrain and control) into the wheel arch, enabling the industry’s flattest EV platform. Unrestricted by legacy thinking, REE is a truly horizontal player, with technology applicable to the widest range of target markets and applications. Designed to be fully scalable and fully modular, REE offers multiple benefits to customers, including complete vehicle design freedom, more space and volume with the smallest footprint, lower TCO, faster development times, ADAS compatibility, reduced maintenance and compliance with global safety standards.

Based in Tel Aviv, Israel, REE has subsidiaries in the US, UK, Japan and Germany, and the company plans to open a US headquarters and first integration center in Austin, USA. Texas. REE has a unique CapEx-light manufacturing model that leverages the existing production lines of its Tier 1 partners. REE’s technology, along with its unique value proposition and commitment to excellence, position REE for innovate in electric mobility. For more information, visit https://www.ree.auto.

Caution Regarding Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, may be forward-looking statements. Words such as “may”, “will”, “should”, “probably”, “anticipates”, “expects”, “intends”, “plans”, “plans”, “believes” “,” Views “,” estimates “,” future “,” allows “,” aims “,” strives “” strives “and similar expressions are used to identify these forward-looking statements. These statements include, among others, the statements of the Company on the strategic and business plans of the Company, its relationships or prospects, the impact of trends and interest in its business, its intellectual property or its product and its results. future. These forward-looking statements are based on REE’s expectations and beliefs regarding future events and involve risks and uncertainties which may cause actual results to differ materially from current expectations. These factors are difficult to predict with precision and may be beyond REE’s control. Forward-looking statements in this communication or elsewhere speak only as of the date of their publication and REE makes no commitment to update its forward-looking statements, whether as a result of new information, future developments or otherwise, if circumstances change, unless otherwise specified. by securities and other applicable laws. In light of these risks and uncertainties, investors should be aware that the results, events or developments discussed in any forward-looking statement made in this communication may not occur. The uncertainties and risk factors that could affect the future performance of REE and cause the results of the forward-looking statements in this press release to differ include, but are not limited to: REE’s ability to market its strategic plan; REE’s ability to maintain and advance relationships with current Tier 1 vendors and strategic partners; development of advanced REE prototypes into marketable products; REE’s ability to develop and evolve its manufacturing capacity through relationships with Tier 1 suppliers; REE’s estimates of unit sales, expenses and profitability and underlying assumptions; REE’s confidence in its UK engineering center of excellence for the design, validation, verification, testing and certification of its products; REE’s limited operating history; risks associated with REE’s initial commercial production plans; REE’s dependence on potential suppliers, some of which will be single or limited source; development of the commercial EV market; intense competition in the e-mobility space, including with competitors who have much more resources; risks associated with the Company being incorporated in Israel and governed by Israeli law; REE’s ability to continue to invest in its platform; the impact of the ongoing COVID-19 pandemic and any other global health epidemics or outbreaks that may arise; the need to attract, train and retain a highly skilled technical workforce; changes in laws and regulations that impact rare earths; REE’s ability to enforce, protect and maintain intellectual property rights as well as to protect and defend against actual or potential claims; REE’s ability to retain engineers and other highly qualified employees to pursue its objectives and to isolate and defend against any potential or claimed claims or legal action by employees; and other risks and uncertainties set out in the sections entitled “Risk Factors” and “Caution Regarding Forward-Looking Statements” in REE’s final prospectus relating to its business combination filed with the State Securities and Exchange Commission. United (the “SEC” in July) 1, 2021 and in subsequent filings with the SEC. While the list of factors discussed above and the list of factors presented in the final prospectus are believed to be representative, none of these lists should be taken as a complete statement of all potential risks and uncertainties. Factors not listed may present significant additional barriers to making forward-looking statements.

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