Company: REE
Filing Date: 2025-03-27
Form Type: 424B5
Source: 0001013762-25-003025
Chunk: 21

Company: REE Automotive Ltd.
Filing Date: 2025-03-27
Form: 424B5
Chunk 21
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 shares having the           
 right to have more than one vote for each share thereof, except as required by law; |

| ● | issue any Class B Ordinary Shares (other than (i) Class B Ordinary Shares                                                                
 originally issued by REE after the Closing Date (as defined below) pursuant to the exercise or conversion of options or warrants that,   
 in each case, are outstanding as of the Closing Date and (ii) Class B Ordinary Shares issued to a Founder simultaneously with each Class 
 A Ordinary Share issued to such Founder); or                                                                                             |

| ● | authorize, or issue any shares of, any class or series of REE’s share      
 capital having the right to more than one (1) vote for each share thereof. |

<div align='center'>S-10</div>

Dividend Rights

Holders of Class B Ordinary Shares will not participate in any dividend
declared by the board of directors.

Liquidation Rights

On the liquidation, dissolution, distribution of assets or winding
up of REE, holders of Class B Ordinary Shares will not be entitled to receive any distribution of REE assets of whatever kind.

Transfers

Holders of Class B Ordinary Shares are restricted from transferring
such shares other than to a Permitted Class B Owner.

Mandatory Suspension

Each Class B Ordinary Share will be automatically suspended on July
22, 2031. In addition, the Class B Ordinary Shares will be suspended and have no further voting rights with respect to any Founder:

| i. | who holds less than 33% of the Class A Ordinary Shares held by such Founder immediately following the Effective Time (including those 
 underlying vested and unvested options);                                                                                              |

| ii. | whose employment as an executive officer is terminated other than for cause or who resigns as an officer of REE and also ceases to 
 serve as a director;                                                                                                               |

| iii. | who dies or is permanently disabled, except that if the other Founder holds Class B Ordinary Shares at such time, then the Class B 
 Ordinary Shares held by the Founder who dies or is permanently disabled will automatically be transferred to the other Founder; or |

| iv. | whose employment as an executive officer is terminated for cause. |

A termination for cause requires a unanimous decision of the board
of directors of REE other than the affected Founder.

A termination for “Cause” shall occur 30 days after written
notice by REE to a Founder (based upon the unanimous decision of the board of directors, other than