GNW-Adhoc: Carlton Rose joins the Board of Directors of REE Automotive

^TEL AVIV, Israel, June 28, 2023 (GLOBE NEWSWIRE) — REE Automotive Ltd.

(https://ree.auto/) (Nasdaq: REE) announced today that Carlton Rose,

former Global President of Fleet Maintenance and Engineering at UPS, with

was appointed to the company’s board of directors with immediate effect.

?Mr. Rose, who has been with UPS for 42 years, is one of the most experienced and

most respected fleet managers in the world and brings invaluable expertise and

a wealth of experience at REE,” says Arik Steinberg,

Chairman of the Board of Directors of REE.?We are endorsed by his management and

Industry experience greatly benefit while sharing our long-term vision and

develop strategy.”

?I am pleased to join the REE Board of Directors at this crucial time

to join corporate development,” said Carlton Rose.?Over a number of years

I’ve watched REE grow from a startup to a company

has developed, which is based on the scaling of production as highly innovative

and commercially competitive electric vehicle solution. I

I look forward to sharing my strategic expertise and industry knowledge

as a former Global President of Fleet Maintenance and Engineering at UPS

where I manage more than 330,000 units around the world

have.”

?During my time at UPS I have developed and deployed over

16,000 low-emission and zero-emission vehicles with alternatives

fuels and advanced technologies,” continued Rose.?The

REE’s focus on innovation, electrification and automation provides a

convincing basis for accelerating electromobility in

different vehicle classes, use cases and applications. I am of it

convinced that the future holds great things and that REE will play a leading role in it

commercial EV industry.”

?It has been exactly four years since we first met Mr. Rose and his team

in Tel Aviv, where we presented the REEcorner technology to UPS,” said Daniel

Barel, co-founder and CEO of REE.?The in-depth industry knowledge of

Mr. Rose and his practical experience in introducing new technologies

will be a great asset to REE as we continue our strategic

Partnerships with industry-leading dealers and fleet customers continue

Remove.”

If you want to know more about the patented technology and the unique offer of

REE Automotive want to learn that will enable the company to create new

Visit www.ree.auto to find out more about electromobility

(http://www.ree.auto/).

media contact

Malory Van Guilder

Skyya PR for REE Automotive

+1 651-335-0585

[email protected] (mailto:[email protected])

investor contact

Kamal Hamid

VP Investor Relations | REE Automotive

+1 303-670-7756

[email protected] (mailto:[email protected])

About REE Automotive

REE Automotive (Nasdaq: REE) is an automotive technology company that

Company allows on its modular platforms electric vehicles of any

build size and shape. In addition to complete freedom in design, REE

enabled vehicles equipped with the revolutionary REEcorner, the

critical vehicle components (steering, brakes, suspension, powertrain and

control) in a single compact module that is between

chassis and wheel is positioned. This allows REE to offer the slimmest EV

Platforms in the industry with more space for passengers, cargo and batteries too

build. REE platforms are future-proof, autonomous, offer low TCO and

reduce the time to market for fleets that are going to be electrified

should, drastically. Visit www.ree.auto for more information

(http://www.ree.auto/).

Cautionary Note Regarding Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of

Private Securities Litigation Reform Act of 1995. Forward-Looking Statements

include, but are not limited to, statements about expectations,

hopes, beliefs, intentions or strategies of REE or his

Management teams regarding the future. In addition, all statements that

based on plans, projections, forecasts or other characterizations

future events or circumstances, including the underlying

underlying assumptions, forward-looking statements. The words “aspire”,

“anticipate”, “appear”, “approximately”, “believe”, “continue”, “could”,

?assess”,?expect”,?foresee”,?intend”,?can”,

“possibly”, “plan”, “possible”, “potential”, “predict”,

“project”, “track”, “should”, “would”, “envisaged”, “aim” and

similar expressions (or the negative version of such words or expressions)

may identify forward-looking statements, but the absence of those words

does not mean that any statement is not forward-looking. All statements

statements that are not historical facts may constitute forward-looking statements

be. Forward-looking statements in this release may include, but are not limited to:

Statements about REE’s strategic and business plans, technology,

Relationships, goals and expectations for our business, the impact of

Trends in and interest in our business, intellectual property or

Product and its future results, operational and financial

include benefits and conditions.

These forward-looking statements are based on information available at the time

of this release, as well as current expectations, projections

and assumptions. Although REE believes that the expectations reflected in

forward-looking statements reflect, are reasonable, are such

Statements that involve an unknown number of risks, uncertainties,

assessments and other factors that may lead to

materially different from our actual results, performance or achievements

deviate from future results, performance or achievements that

expressed or implied by the forward-looking statements. This

Factors are difficult to predict accurately and may lie

beyond REE’s control. Forward-looking statements in this

Notices relate only to the date they were made and REE

assumes no obligation to update its forward-looking statements

update, be it due to new information, future developments

or for other reasons should circumstances change, unless

this is required by securities and other applicable laws. In

Given these risks and uncertainties, investors should consider that

Results, events or developments in a forward-looking

statement mentioned in this release may not come true.

Among the uncertainties and risk factors affecting the future performance of

REE and may cause actual results to differ

could include, but are not limited to: REE’s ability to execute its strategic plan

to market, including his plan to market his latest mid-size

electric panel van built on a P7 cab chassis,

successfully evaluate, produce and market as in this one

press release described; REE’s ability to maintain relationships with the

current Tier 1 suppliers and strategic partners and

to develop; the development of REE’s advanced prototypes

marketable products; REE’s ability to expand manufacturing capabilities

Expand and scale relationships with Tier 1 suppliers; the estimates

of REE in terms of sales, costs and profitability as well as the underlying

underlying assumptions; the use of its engineering center of excellence in the

United Kingdom by REE in relation to design, validation,

verification, testing and approval of its products; the limited

operational history of REE; Risks related to the plans for the first

commercial production of REE; the dependence of REE on potential

Suppliers, some of whom have only a single or limited source of supply

become; the development of the commercial electric vehicle market;

intense competition in the field of electromobility, also with competitors,

who have significantly more resources; Risks related to the

fact that REE is incorporated in Israel and governed by Israeli law;

REE’s ability to continue investing in its platform; the

Effects of the ongoing COVID-19 pandemic and others worldwide

health epidemics or outbreaks that may occur; and unfavorable

global conditions, including macroeconomic and geopolitical

Uncertainty; the need for highly qualified technical personnel

recruit, train and retain; changes in laws and regulations,

affecting REE; REE’s ability to protect intellectual property rights

enforce, protect and uphold; the ability of REE,

Engineers and other highly qualified staff adhere to its goals

to advance; and other risks and uncertainties discussed in sections

“Risk Factors” and “Cautionary Statements Regarding Forward-Looking Statements” in

REE’s annual report filed with the US Securities and Exchange Commission (the

“SEC”) was filed on March 28, 2023, and in subsequent filings with the

SEC.

A photo accompanying this announcement is available

at: https://www.globenewswire.com/NewsRoom/AttachmentNg/0dad5048-7885-422f-

b639-c5cfdb9d203e/de

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