REE Automotive Ltd.

Proxima Powered by REE

REE will host an investor event on July 28, live-streamed from the American Center for Mobility in Ypsilanti, Mich., to provide a business update and showcase the first electric walk-in van Powered by a REE P7 electric chassis, paired with the newly-designed EAVX and Morgan Olson Proxima van body.

YPSILANTI, Mich., July 26, 2022 (GLOBE NEWSWIRE) — REE Automotive (NASDAQ: REE) will host an investor event on July 28, live-streamed from the American Center for Mobility in Ypsilanti, Mich., to provide a business update and showcase the first electric walk-in van Powered by a REE P7 electric chassis, paired with the newly-designed EAVX and Morgan Olson Proxima van body.

What: Live-streamed event to include a business update and Q&A session with REE’s management team including:

• Daniel Barel, Co-Founder & CEO,

• David Goldberg, CFO,

• Joshua Tech, COO, and

• Peter Dow, VP of Engineering.

When: Thursday, July 28 at 11 a.m. ET

Where: Register for the webcast here.

The event follows the start of prospective customer evaluations of the all-new electric step-in van, which leverages REE’s REEcorner technology and P7 electric vehicle chassis. Combined with EAVX and Morgan Olson’s decades of experience building walk-in step van bodies, the vehicle introduces new technologies to enhance driver ergonomics and efficiencies that will transform the industry.

For more information on Proxima Powered by REE, read the press release here, watch it in motion here, and visit https://www.lastmileevolution.com/.

MediaCaroline HutchesonHead of Global Communications | REE Automotive+1252-314-2028media@ree.auto

InvestorsLimor GruberVP Investor Relations | REE Automotive+972-50-5239233investors@ree.auto

Kamal HamidVP Investor Relations | REE Automotive+1 303-670-7756investors@ree.auto

About REE AutomotiveREE (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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6345b793-fd94-444f-bdfb-66789aecfcce