Strategic Alternative Process

On May 1, 2026, REE Automotive Ltd. (the "Company" or "REE") announced that in addition to the Company's Cost-Reduction Plan, including its efforts to reduce its monthly operating expenses, the Company has initiated a review of strategic alternatives to maximize shareholder value. These strategic alternatives may include a potential sale of the Company or all or a portion of its assets, a merger or other strategic business combination, a reverse merger, strategic partnership(s), licensing opportunities, or other strategic transactions. The Company expects the strategic review process to proceed on an expedited basis. The Company's Board of Directors has engaged TD Securities (USA) LLC as its financial advisor to assist it in the strategic review process.

Daniel Barel, REE's Chief Executive Officer, said: "We are taking decisive steps to streamline our operations and evaluate strategic alternatives, including a potential sale of the Company, with the goal of maximizing value for our shareholders while continuing to support our technology and partners."

While this strategic review is underway, the Company does not intend to disclose or comment on developments related to its review unless and until its Board of Directors has approved a specific transaction, or it has otherwise been determined that further disclosure is appropriate or necessary. There can be no assurance that this strategic review will result in any transaction, nor any assurance as to the outcome or timing thereof.