REE will exhibit at CES with reduced in-person presence balanced by expanded digital and virtual access to never-before-seen EVs 'Powered by REE' and EV platforms ideal for electrifying commercial fleets

-All-new Leopard autonomous delivery vehicle concept display

-Showcasing a full-size FlatFormer platform together with Hino Motors

-Live demo of modular REEcorner™ architecture

-Virtual experience for those not attending in-person

TEL AVIV, Israel , Dec. 28, 2021 /PRNewswire/ -- REE Automotive Ltd. (NASDAQ: REE), today announced that it is exhibiting at CES on Jan. 5-8 th in Las Vegas both in-person and virtually with an expanded and interactive digital experience. REE will display its functional ultra-modular EVs, electric platform prototypes and demos of its revolutionary REEcorner™ technology with full x-by-wire.

Daniel Barel , REE Co-Founder & CEO: "CES is a great opportunity to showcase the full breadth and depth of our revolutionary technology, capabilities and broad ecosystem of partners. We have so much to share with the industry and we've been waiting for a physical conference to meet in person at CES. We are closely monitoring the evolving COVID-19 situation as well as the safety measures the CTA organizers have implemented. Innovation is paramount and therefore we believe that the best path forward is to exhibit at CES with a reduced physical presence while providing complete virtual access to our exhibition and demos on the show floor and to the REE team."

REE sees a future in which EVs - ranging from commercial vans to passenger shuttles to autonomous robo-taxis and last mile delivery vehicles - will have REE technology at its core. The company has already laid the foundation to make this future possible by partnering with global leaders such as Hino Motors, Hitachi America , Magna International, JB Poindexter and others, creating one of the most comprehensive mobility ecosystems of its kind.

The REE display at the CES show includes:

REE-Hino Motors EV Platform & Business Alliance The companies' joint exhibit at CES reinforces the strength of Hino's and REE's enduring partnership and shared effort to provide electric commercial mobility solutions geared to improve quality of life on a global scale. REE and Hino will showcase a full-size FlatFormer concept model, a fully-flat and modular EV platform that is geared to serve multiple target markets, from delivery companies to Mobility-as-a-Service. Companies are on track for hardware prototypes by FY2022.

REEcorner™ Demo The REEcorner™ demo highlights the performance of four functional REEcorners™ under real-world conditions, allowing visitors to experience the wide range of mission-specific vehicles that can be enabled by the REEcorners™ and EV platforms.

REEcorners™ boast x-by-wire technology allowing for independent wheel drive, steering and brake control and full EV and AV design flexibility. Through REE's partnership with American Axle & Manufacturing (AAM; NYSE: AXL), REE will show how REEcorners™ incorporate AAM's 3-in-1 propulsion system (Electric Drive Unit, Inverter and Gear Reducer) to deliver unparalleled power and control.

Leopard - Autonomous Delivery Concept Vehicle REE will display its fully autonomous delivery vehicle concept, Leopard, for the first time ever, based on REE's brand new, ultra-modular vehicle platform. The vehicle features LiDAR sensors from Innoviz Technologies (Nasdaq: INVZ), a leading provider of high-performance, solid-state LiDAR sensors and perception software.

REE's Co-Founders CEO Daniel Barel and CTO Ahishay Sardes will be available for interviews

The REE, Hino Motors and AAM teams will be available for joint media interviews

Analyst event with American Axle is scheduled for Jan. 5 at 12:15PT

REE location: Booth #4865, West Hall

For more information about media availability, media booth tours and news releases, please contact:

Caroline Hutcheson Head of Communications, REE Automotive media@ree.auto +1-252-314-2028

About REE Automotive REE (Nasdaq: REE) is an automotive technology leader whose mission is to empower companies to build any size or shape of electric or autonomous vehicle – from Class 1 through Class 6 – for any application and any target market. REE aims to serve as the underpinning on top of which EVs and AVs will be built and envisions a future where EVs and AVs will be 'Powered by REE'. REE's revolutionary technology – the REEcorner™ – packs critical vehicle components (steering, braking, suspension, powertrain and control) into a single compact module positioned between the chassis and the wheel, enabling REE to build the industry's flattest EV platforms with more room for passengers, cargo and batteries. REE uses x-by-wire technology to control each of the corners of the vehicles with full drive-by-wire, brake-by-wire and steer-by-wire. REE's EV platforms afford complete freedom of design, enabling auto-manufacturers, OEMs, delivery & logistic fleets, Mobility-as-a-Service providers and new mobility players to design mission-specific EVs and AVs based on their exact business requirements and significantly reduce their time-to-market, lower TCO and meet zero-carbon regulations. Headquartered in Herzliya, Israel , REE has an Engineering Center in the UK, as well as subsidiaries worldwide including Japan and Germany , and plans to open its U.S. headquarters and first Integration Center in Austin, Texas . REE's unique CapEx-light manufacturing model leverages Tier-1 partners' existing production lines; the company's extensive partner ecosystem encompasses leading names including Hino Motors (truck arm of Toyota), Magna International, JB Poindexter, Navya and American Axle & Manufacturing to provide a full turnkey solution. REE's patented technology, together with its unique value proposition, position it to break new ground in e-Mobility. For more information visit https://www.ree.auto.

Forward-Looking Statements This press release includes forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our limited operations and need to expand in the near future to fulfill product orders; risks associated with obtaining orders and executing upon such orders; the ability to protect our intellectual property; the potential lack of market acceptance of our products; potential competition; our inability to retain key members of our management team; our inability to raise additional capital to fund our operations and business plan; our inability to satisfy covenants in our financing agreements; our inability to maintain our listing of our securities on the Nasdaq Capital Market; our inability to satisfy our customer warranty claims; our ability to continue as a going concern; our liquidity and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC. REE expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.

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