Faraday Future repays $5M convertible note, converts $5.88M balance to 6-month cash debt

FARADAY FUTURE INTELLIGENT ELECTRIC INC.

Repayment of $5.0M restricted cash from DACA account cuts outstanding notes from ~$10.88M to ~$5.88M.
Remaining ~$5.88M balance becomes non-convertible debt, repayable in full in cash within six months.
Exchange reduces potential shareholder dilution by ~25.16%, calculated at $5.00/share conversion floor.
Amendments signed Sept 15, 2026 with institutional investor and East West Bank under May 2026 SPA.
Executive Chairman Jerry Wang: action optimizes capital structure and protects shareholder value.

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