#1POWERED BY R3E Investor Presentation#2Disclaimer This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Words such as "may," "will," "should," "likely," "anticipates," "expects," "intends," "plan," "projects," "believes,” “views,” “estimates", "future", "allow", "aims", "strives" "endeavors” and similar expressions are used to identify these forward-looking statements. These statements include, among other things, the Company's statements about the Company's strategic and business plans, relationship or outlook, the impact of trends on and interest in its business, intellectual property product and future results. These forward-looking statements are based on REE's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond REE's control. Forward-looking statements in this or any other REE communication are only as of the date made and REE undertakes no obligation to update its forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this communication may not occur. Uncertainties and risk factors that could affect REE's future performance and cause results to differ from the forward-looking statements in this release include, but are not limited to: REE's ability to commercialize its strategic plan; REE's ability to maintain and advance relationships with current Tier 1 suppliers and strategic partners; development of REE's advanced prototypes into marketable products; REE's ability to grow and scale manufacturing capacity through relationships with Tier 1 suppliers; REE's estimates of unit sales, expenses and profitability and underlying assumptions; REE's reliance on its UK Engineering Center of Excellence for the design, validation, verification, testing and homologation of its products; REE's limited operating history; risks associated with REE's plans for initial commercial production; the ability of raw materials and other critical components including semiconductor microchips; REE's dependence on potential suppliers, some of which will be single or limited source; development of the market for commercial EVs; intense competition in the e-mobility space, including with competitors who have significantly more resources; risks related to the fact that the Company is incorporated in Israel and governed by Israeli law; REE's ability to make continued investments in its platform; the impact of the ongoing COVID-19 pandemic and any other worldwide health epidemics or outbreaks that may arise; the need to attract, train and retain highly-skilled technical workforce; changes in laws and regulations that impact REE; REE's ability to enforce, protect and maintain intellectual property rights; REE's ability to retain engineers and other highly qualified employees to further its goals; and other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in REE's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC") on March 28, 2022 and in subsequent filings with the SEC. Industry and Market Data In this presentation, REE relies on and refers to publicly available information and statistics regarding market participants in the sectors in which REE competes and other industry data. Any comparison of REE to the industry or to any of its competitors is based on this publicly available information and statistics and such comparisons assume the reliability of the information available to REE. REE obtained this information and statistics from third-party sources, including reports by market research firms and company filings. While REE believes such third-party information is reliable, there can be no assurance as to the accuracy or completeness of the indicated information. REE has not independently verified the information provided by third-party sources. Trademarks: This presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM, © or Ⓡ symbols, but REE will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. Use of Non-GAAP Financial Measures The Company has disclosed financial measurements in this press release that present financial information considered to be non-GAAP financial measures. These measurements are not a substitute for GAAP measurements, although the Company's management uses these measurements as an aid in monitoring the Company's on-going financial performance. Non-GAAP research and development, non-GAAP selling, general and administrative expenses and non-GAAP operating expenses exclude the impact of stock-based compensation. Non-GAAP net loss and non-GAAP loss per share also exclude non-recurring or unusual items that are considered by management to be outside the Company's standard operations and certain non-cash items. Adjusted EBITDA is a non-GAAP financial measurement that is considered by management to be useful in comparing the profitability among companies by reflecting operating results of the Company excluding such items. There are limitations associated with the use of non-GAAP financial measures, including that such measures may not be comparable to similarly titled measures used by other companies due to potential differences among calculation methodologies. Thus, there can be no assurance whether items excluded from the non-GAAP financial measures will occur in the future or (ii) there will be cash costs associated with items excluded from the non-GAAP financial measures. The Company compensates for these limitations by using these non-GAAP financial measures as supplements to GAAP financial measures and by providing the reconciliations for the non-GAAP financial measures to their most comparable GAAP financial measures. Investors should consider adjusted measures in addition to, and not as a substitute for, or superior to, financial performance measures prepared in accordance with GAAP. R3E#3REE Automotive - Quick Facts E NASADAQ:REE Traded on Nasdaq starting for July 23, 2021 $239 million Outstanding cash as of March 31, 2022 ooooooo H2 2023 Expected start of production Differentiated Technology Industry's flattest chassis, highly modular Key strategic partners Including leading automotive suppliers such as Toyota, Mitsubishi corp., Hitachi, Magna Int, JB Poindexter, Koch Industries and more Highly Experienced Team Seasoned executives, R&D, Engineers and Operational members from major players Mitsubishi Corporation R3E HITACHI Inspire the Next HINO A TOYOTA GROUP COMPANY MORGAN HOLSON. JB POINDEXTER & CO A MAGNA M#4PLAY VIDEO DRIVE-BY-WIRE#5REE is Changing the Way Cars are Built Conventional EV Platforms REEcorner™ EV Platforms RBE REE's Fully Flat Platform Advantages Modular and Agnostic Agnostic to vehicle parameters such as size, shape, function and payload. Agnostic to power source (BEV or FCEV), brand or driver input (AD or manual control) R3E Motor Placement Electric Drive Unit is positioned inboard of the suspension as a fully sprung mass (unlike Hub Motors which increase unsprung masses) Autonomous Drive REE's single wheel x-by-Wire control enables ease of integration of autonomous driving hardware and software control Ride Quality Steer, Brake, and Drive-By- Wire systems allows for optimal vehicle dynamics and enhances safety and response times Future-Proof REEcorners, batteries, bodies and vehicle function can be upgraded over time to ensure peak performance and lowest TCO Preventative Maintenance and OTA Updates Wide range of sensors and Al algorithms to provide actionable operational and vehicle insights Design for Serviceability Nationwide service network and fast under an hour corner replacements 5#6REE'S Unique Technology & Value Proposition REECorner™: Integrates all critical vehicle components into the wheel arch R3E Freedom of design - size, shape, weight, mission, power source, driving mode X-by-Wire technology: Brake, Steer, Drive by Wire REEboard: Completely flat, scalable and modular platform R3E R3E RBE Lowest Total Cost of Ownership Faster time to Highest market volumetric efficiency Customization at a fraction of the cost of other approaches ७#7EV Adoption - from today's ICE vehicles into zero-emission future 71% CHARGING POINT 30% 12% 38% CHARGING POINT 6% 16% 1.8% 5% 2022 2025 2030 2040 R3E Privet and Propriety Information 7#8REE's Go-to-Market Strategy JB POINDEXTER & CO MORGAN OLSON. HINO A TOYOTA GROUP COMPANY A MAGNA R3E NEXT GENERATION EV PLATFORM R3E RENE • Ecosystem Fleet financing Charging infrastructure DaaS & AaaS Aftersales & maintenance Battery as a Service Top Hat Partner Body structure Lights, Interior Exterior trim, doors, lids Chassis HV Battery, BMS, OBC HV/LV/Data Harnesses Thermal system Corners & Control Powertrain Steering Braking Vehicle Dynamics and ESP 8#9REE's Ecosystem Fleet Financing Charging Infrastructure Platform Vehicle Body Aftersales & Maintenance Data as a Service R3E Privet and Propriety Information FULL TURNKEY SOLUTION FOR COMMERCIAL VEHICLE ELECTRIFICATION CLASS 1 to CLASS 6 Battery as a Service ☆#10P7 Platform - Efficiency, Productivity & Design Freedom - Powered by REE ЗЕЯ BER ЗЕЯ ОЗЯЗНО Specifications Low, fully flat chassis for classes 3-5 Up to 370-mile range Up to 8,800 lbs payload Up to 400kW Flexible configuration: all/front/rear wheel drive & all/front wheel steer Value proposition Full design freedom: full vehicle solutions/stripped chassis/cab- chassis Ideal for Bus/Delivery/Walk-in-van/Food trucks 35% more cargo space Optimized TCO Fast time to market R3E Privet and Propriety Information (1) Cost, timing and locations represent management expectation and are subject to change. These projections are for illustrative purposes only and actual outcomes may differ materially. 10#11PLAY VIDEO#12Market's First Fully Drive-by-Wire Electric Van Customer evaluations to begin this summer on private roads in North America EAVX and REE are jointly approaching customers in North America First electric van based on EAVX and Morgan Olson's new body design and Powered by REE R3E MORGAN OLSON POWERED BY RзE OO EA VX MORGAN *OLSON® POWERED BY R3E TM 12#13Flatformer - REE-Hino Partnership 2022 Prototype build and evaluation ANJE HIND HIND HINO Recycle Management Service 07 Upcycle System CONVENIENCE STORE HINO HINO hair יוק קיק! Specifications Low, fully flat chassis for classes 2-3 Customized detachable Mobility Service Module L4-L5 autonomy enhanced with DaaS Value proposition Modular detachable service module address a wide variety of current and future applications More efficient utilization of customers' business resources. Go-To-Market • OEM collaboration HINO Offering wide range of services for: • Delivery • Retail • School support • Operational R3E 13#14Advancing Manufacturing Readiness Ahead of 2023 Production Successful completion of core robotic assembly based on cloud infrastructure Robotic line to be installed at EU Integration Center in 2H 2022 and replicated to Austin, Texas, Integration Center in 2023 Modular cells capable of assembling multiple REEcorner TM designs CapEx light manufacturing approach based on modular integration centers using Tier- 1s excess capacity Initial capacity of 10,000 vehicle sets by year end to double by 2023 R3E ASSA ABLOY 14#1510 PLAY VIDEO ABB 46 ABB ABB#16Reiterating 2022 Financial Outlook (1) Non-GAAP Operating Expenses & Capital Expenditures $31 million $100 $120 million 2022 Outlook $30 million Q1 2022 Non-GAAP Cash Investments Operating Expenses $130 - $150 Million (2) Outstanding cash as of March 30, 2022: $239 million R3E (1) See appendix for reconciliation between GAAP to non-GAAP measures (2) 2022 Outlook reflected on cash basis and is inclusive of both expected cash investments for capital and non-GAAP operating expenses 2022 Budget 16#17On Track towards Firm Orders and Start of Production 2019 • Core 2020 • Supply chain engineering Tech validation R3E 2021 ◆ Ecosystem partnerships Production commission. XBW homologation path Platform evaluation P7 funding 2022 Platform testing with driver Robotic assembly capability O Vehicle customer evaluation O Hino FlatFormer prototype tests O Initial 10,000 sets capacity 2023 O Platform homologation O Full vehicles on public roads O Test fleets at customers O Start of production O Add' I 10,000 sets capacity 3 BEA BER ЗЕЯ на Озятко 17#18Confidential and Propriety Information Thank you www.ree.auto in 5998 18#19Reconciliation of GAAP to non-GAAP Measures1 Reconciliation of GAAP research and development expenses to Non-GAAP research and development expenses; GAAP selling, general, and administrative expenses to Non-GAAP selling, general, and administrative expenses; GAAP operating expenses to Non-GAAP operating expenses; GAAP net loss to Non-GAAP net loss, and GAAP net loss per Share, basic and diluted to Non- GAAP net loss per Share, basic and diluted GAAP cost of sales expenses Inventory write-off Share-based compensation Non-GAAP cost of sales expenses Three Months Ended Mar 31, 2021 Mar 31, 2022 Dec 31, 2021 $ 538 656 $ 11 (251) ☐ (70) (128) 468 277 11 GAAP research and development expenses 22,397 23,292 7,149 Share-based compensation (3,207) (5,559) (1,645) Non-GAAP research and development expenses 19,190 17,733 5,504 GAAP selling, general, and administrative expenses Share-based compensation 15,288 15,538 5,448 (5,198) (8,428) (2,461) Non-GAAP selling, general, and administrative expenses 10,090 7,110 2,987 GAAP operating expenses Share-based compensation Non-GAAP operating expenses 37,685 38,830 12,597 (8,405) (13,987) (4,106) 29,280 24,843 8,491 1) 2) In July 2021, the Company assumed public and private warrants as part of its merger with 10X Capital. For the first quarter of 2022, the change in fair value of the warrants resulted in the Company recording non-cash income of $15.3 million. Prior period results have been retroactively adjusted to reflect the 1:26.7017 stock split and the changes in par value from 0.01 NIS to no par value effected on July 22, 2021. GAAP net loss (23,015) (46,651) (12,598) Loss (income) from warrant valuation (1) (15,330) 6,239 8,475 14,115 4,106 251 $ (29,870) $ (26,046) $ (8,492) Share-based compensation Inventory write-off Non-GAAP net loss Non-GAAP basic and diluted net loss per share Weighted average number of ordinary shares and preferred shares used in computing basic and diluted net loss per share (2) $(0.10) $ (0.09) 289,747,646 284,294,928 $ (0.04) 193,705,500 R3E (1) See REE's Q1 2022 6-K (EX 99.1) 19