Company: REE
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025661
Chunk: 180

Company: REE Automotive Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 180
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 statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Company’s auditor since 2015.

/S/ KOST FORER GABBAY & KASIERER

A Member of EY Global

Tel-Aviv, Israel

May 15, 2025

F-2

Table of Contents

REE AUTOMOTIVE LTD. AND ITS SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

U. S. dollar in thousands (except share and per share data)

                                                                                                                                                                                                            December 31,                                            
                                                                                                                                                                                                            2024                              2023                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                                                                                                                                                                            
  CURRENT ASSETS:                                                                                                                                                                                                                                                   
  Cash and cash equivalents                                                                                                                                                                                 $                     72,262      $             41,232  
  Short-term investments                                                                                                                                                                                    —                                               44,395  
  Accounts receivable                                                                                                                                                                                       11                                455                   
  Inventory                                                                                                                                                                                                                        3,075      463                   
  Other accounts receivable and prepaid expenses                                                                                                                                                                                   7,158                     6,959  
  Total current assets                                                                                                                                                                                                            82,506                    93,504  
  NON-CURRENT ASSETS:                                                                                                                                                                                                                                               
  Non-current restricted cash                                                                                                                                                                                                      2,510                     3,008  
  Other accounts receivable and prepaid expenses                                                                                                                                                                                   3,091                     2,871  
  Operating lease right-of-use assets                                                                                                                                                                                             20,063                    21,418  
  Property and equipment, net                                                                                                                                                                                                     22,110                    17,099  
  Total non-current assets                                                                                                                                                                                                        47,774                    44,396  
  TOTAL ASSETS                                                                                                                                                                                              $                    130,280      $            137,900  
  LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                                                                                                              
  CURRENT LIABILITIES:                                                                                                                                                                                                                                              
  Short term loan                                                                                                                                                                                           $                     18,008      $             15,019  
  Trade payables