Faraday Future cancels 21M incremental warrants, cuts potential dilution ~57%

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Cancelled all 21,021,369 outstanding Incremental Warrants from March 2025 Financing closings 1-3.
Warrants were exercisable for convertible notes ($21.02M principal), common stock warrants, and Series B preferred.
Eliminates ~57.48% of potential dilution on fully diluted basis; ~45% max dilution from exercise at $5.00 floor.
Expected to reduce ~$5.794M in fair-value-measured liabilities from Q2 2026 financials.
Follows Aug 20, 2026 amendment cancelling all common and incremental warrants under March 2025 SPA.

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