Faraday Future Intelligent Electric Inc.

Greetings and welcome to the Faraday Future Intelligent Electric full year 2025 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, John Schilling, Director of PR and Communications. Thank you, John. You may begin.

Good afternoon, everyone, and thank you for joining Faraday Future's fourth quarter and full year 2025 earnings call. My name is John Schilling, Global Director of Public Relations and Government Affairs here at Faraday Future. Joining me today are our Global Co-CEO, Matthias Eidt, our Global President, Jerry Wang, and our Chief Financial Officer, Cody Mecca. Before we begin, please note that today's discussion will include forward-looking statements based on current expectations and assumptions. These statements involve risks and uncertainties that could cause actual results to differ materially. We encourage you to review our SEC filings for a detailed discussion of these risks. We undertake no obligation to update forward-looking statements except as required by law. Following these prepared remarks, we will address a selection of stockholder questions submitted in advance. With that, I'll turn the call over to Matthias.

Thank you, John. And thank you to everyone who is joining us today. 2025 marked a fundamental transition for Faraday Future from strategy to execution. We are now entering early commercialization across both our EV and robotics businesses, supported by growing demand signals and early validation of our gross margin profile. This is the first time in 12 years from company inception that we can expect to generate revenue with a positive margin. Most importantly, we are evolving beyond the traditional EV company into an embodied AI ecosystem platform powered by a dual engine model of EI EV plus EI robotics. The EI strategy and the EI industry bridge strategy are our core strategies. The EI strategy is a three-in-one EI ecosystem strategy driven by the EI technology platform consisting of EI devices, the EI brain and open source open platform, and the EI decentralized and centralized data factory forming an open closed loop EI ecosystem. The EI upgrade builds upon the IP and technology foundation of FF's original vehicle business. FF holds over 660 patents. The team is currently reviewing these existing patents to align with the EI strategy. First, the devices. Under the EAI strategy, scalable embodied AI devices for delivery include vehicles and robots. Second, the EAI brain and open source open platform. This creates general purpose brain for multimodal embodied AI consisting of the EAI brain, cerebellum and neural hub powered by EAI foundation models, EAI agents and skilled technologies. Through an open source, open platform, we can unite the entire industry, empower each other and unlock massive value. Third, the EI decentralized centralized data factory. Built on a multimodal old scenario common data infrastructure, this establishes a decentralized and centralized network ecosystem that integrates Web2 data monetization with Web3 data assetization Creating a new data business model. As the first US listed company to achieve scale delivery of both humanoid and biomimetic EEI robot devices, FS not only has a unique first mover advantage, but can potentially generate a series of chain reactions through this closed loop ecosystem. Internal ecosystem. The three businesses, devices, brain and data mutually fuel each other's growth. Mass delivery and adaptation of devices generate vast amounts of data, which enhance the AI brain's capabilities, which in turn improves EI terminal products and drives even larger sales, forming a close product technology loop. At the same time, this can reinforce the EI business and accelerates the realization of fundamental value for the FFAI business. External ecosystem By open sourcing FS technology and platform and opening up protocol standards, FS can connect with industry partners and developers while organically linking shareholders, investors and users, creating synergies and co-creating shared value. Bridge strategy. With FS as the industry bridge, The strategy can integrate global hardware strength with North American AI, R&D advantages, supports localized production and delivers affordable, high-performance intelligent products to target market users. Entering the U.S. blue motion market with a relatively acid-light fast integration approach. The strength of this strategy lies in industrial efficiency and marginal cost benefits driven by deep synergies. Let me now walk through our business update. In the fourth quarter, we continue to move the reservation, production, and delivery of EAI devices. Highlights in the fourth quarter 2025. Reached 2025's most significant milestone, the first FX Super One pre-production vehicle successfully rolled off the company's California AI factory, validating FF's ability to integrate resources across regions, industry, and ecosystems. Achieve the broad product competitiveness of Super One, a first-class MPV with 130 inches wheelbase, flat floor, flexible zero-gravity rear seats, SFEI architecture, and the world's first Super EI FACE system, emotional grill interface. to be available in pure electric or AI hybrid extended range power options covering both urban and long distance travel. Mass production preparation is on track as scheduled. A series of certification related activities proceeded as planned. Additionally, purchase agreements for the first batch of FX Super 1 parts were signed in October. The final assembly line was completed in December. On the commercial front, we are building a four-pillar sales architecture covering community, partner, B2B and third-party e-commerce channels. The B2B2C co-creation ecosystem expanded to six US states. The cumulative non-binding, non-refundable pre-orders for the FX Super One reached over 11,000 units by the end of 2025. In the Middle East, the region transitioned from initial market entry to early commercial validation following the official launch of the FX Super 1 on October 28. Football legend Andres Iniesta became the world's first owner and co-creation officer in November, helping to strengthen regional influence. We are currently prioritizing deliveries to high-quality co-creation partners including local government entities while establishing an operational foundation in Ras Al Khaimah. To support these global efforts, Faraday Finance Inc. was established in October to provide diversified financing solutions. An application has been filed to the relevant auto finance license with the California Department of Financial Protection and Innovation. Meanwhile, the ultra-luxury FF91 flagship continues its niche presence with a targeted delivery, and the company has released real-design sketches for our planned FX4, which is positioned as the RAV4 disruptor in the AIEV era. We also have amazing upgrades on the FFAI technology stack. The system now natively supports over 60 languages and includes real-time web searches with voice synthesis and RHA knowledge-based support. Technical improvements also include an AEC upgrade to support seamless conversation, interruption and a successful migration of an end-to-end autonomous driving model. We have developed vision-based 3D object detection and a scalable automated labeling algorithm alongside the implementation of gesture-controlled door entry using the Dyno V3 vision model. These are not isolated features. They form the foundation of a scalable cross-terminal intelligent system. Furthermore, FF has submitted a patent for a blockchain and web-free based vehicle sharing system that allows for one-click sharing, automatic credit verification and revenue distribution. Qualgen Therapeutics Inc., an independently operated company strategically invested in and controlled by FF, was renamed AIX Crypto Holdings Inc., NASDAQ AIXC. In November, FF expects to expand brand exposure and low-cost financing channels through potential cooperations with AIXC. Highlights of subsequent events. FF EAI Robotics. launched on February 4, and the deliveries officially commenced in late February. FF became the first listed company in the US to deliver humanoid and bionic robots. By March 2026, cumulative shipments of FFEAI robotics, including pre-deliveries, reached 22 units, exceeding preset target accompanied by the start of robot sales, revenue and positive product growth margin in the first quarter. As of the launch event, total non-binding, non-refundable pre-orders of FFE AI robotics reached over 1,200 units. FFE AI robots focus on education, home security and entertainment scenarios to drive product deployment and market awareness. By expanding the existing automotive sales system to include both EAI vehicles and EAI robots, we are maximizing our reach with limited incremental investment. Following the NADA dealer summit in January 2026, several memorandums of understanding have been signed with US dealerships. By February 2026, the company upgraded core strategic partners, signing agreements for mass production component procurement, and engineering services as it enters the final sprint toward full-scale production. In the US market, 800-volt high-voltage drive systems are becoming a core label defining the product strength and technological leadership of high-end electric vehicles. We have already started work on product-related research and development. FFAI has achieved cross-platform sharing, EAI vehicles and EAI robotics, such as voice dialogue capabilities and multimodal interaction capabilities. Model training platforms and toolchains, as well as multimodal environmental perception models, have also been shared. Part 3. System building. Now let's discuss our recent progress on system building. Our update in the fourth quarter 2025 focuses on the reinforcement of our internal management systems, talent acquisition, and regulatory framework, helping us transition toward AI-driven corporate management, effectively transforming our internal company processes through the integration of advanced AI technologies. We introduced the overall PPTIA governance methodology and implemented it across the board. To drive operational efficiency and strategic growth, Fairly Future continues to invest in world-class leadership and infrastructure. with the domestic policy landscape. FF and FX executives held a series of constructive meetings in Washington DC with several US members of Congress and government officials. These dialogues are essential as we continue to refine our corporate governance and ensure our strategic initiatives are well understood by key stakeholders. A major milestone was reached with the conclusion of the SEC investigation in March 2026, a result that we believe validates the significant reinforcement of our legal and compliance system. In March, our headquarters relocated to Silicon Beach, a strategic move that has significantly enhanced our ability to attract top-tier senior talent in the heart of major technology hub. By combining a validated compliance framework with a high caliber talented pool and AI enhanced management tools, we have established a resilient organizational foundation to support the next phase of our global expansion. Now, I will turn the call over to Cody Mecca to discuss the fourth quarter and full year financial updates.