On August 2, 2024, Faraday Future Intelligent Electric Inc. (Faraday Future) entered into a Waiver Agreement with certain investors holding the company's secured and unsecured convertible notes. The agreement aims to reduce Faraday Future's cash obligations and encourage conversion of these notes into common stock. The company has agreed to voluntary adjustments, including a reduction in the conversion price if the stock's volume-weighted average price (VWAP) falls below the current conversion price. Additionally, the company will issue more shares to compensate for any waived accrued interest during conversions. This Full Voluntary Adjustment will remain in effect until five business days after the company provides notice of revocation. The agreement also extends the right of investors to purchase additional notes for one year. Faraday Future plans to incorporate these changes into other existing and future notes through further agreements. The Waiver Agreement and the original Securities Purchase Agreements from 2022 and 2023 have been filed with the SEC and are incorporated by reference into this report.

On August 2, 2024, Faraday Future Intelligent Electric Inc. (Faraday Future) entered into a Waiver Agreement with certain investors holding the company's secured and unsecured convertible notes. The agreement aims to reduce Faraday Future's cash obligations and encourage conversion of these notes into common stock. The company has agreed to voluntary adjustments, including a reduction in the conversion price if the stock's volume-weighted average price (VWAP) falls below the current conversion price. Additionally, the company will issue more shares to compensate for any waived accrued interest during conversions. This Full Voluntary Adjustment will remain in effect until five business days after the company provides notice of revocation. The agreement also extends the right of investors to purchase additional notes for one year. Faraday Future plans to incorporate these changes into other existing and future notes through further agreements. The Waiver Agreement and the original Securities Purchase Agreements from 2022 and 2023 have been filed with the SEC and are incorporated by reference into this report.