Company: REE
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025661
Chunk: 194

Company: REE Automotive Ltd.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 194
---
      $                      6,959  

F-20

Table of Contents

REE AUTOMOTIVE LTD. AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

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

NOTE 5. LEASES

The Company's lease agreements include offices and production facilities, as well as leases for vehicles and other equipment, all classified as operating leases. Certain leases include renewal options that are under the Company`s sole discretion. The renewal options were included in the right-of-use assets and liabilities calculations if it was reasonably certain that the Company will exercise the option.

                                                               December 31, 2024                  December 31, 2023                 December 31, 2022             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating lease cost                                         $                       4,046      $                      3,598      $                      4,163  
  Short-term lease cost                                        146                                165                               165                           
  Variable lease cost                                          193                                170                               120                           
  Sublease income                                              $                      ( 572)      $                          —      $                          —  
  Total lease cost                                             $                       3,813      $                      3,933      $                      4,448  
                                                               December 31, 2024                  December 31, 2023                 December 31, 2022             
  Operating cash flows for operating leases, net:              $                       4,254      $                      2,976      $                      5,946  
  Weighted average remaining operating lease term (years)      6.26                               7.39                              8.25                          
  Weighted average discount rate operating lease               6.55                               6.04                              5.65                          

The following table outlines maturities of the Company’s lease liabilities as of December 31, 2024:

                                          Operating Leases              
  2025                                    $                      4,458  
  2026                                                           4,142  
  2027                                                           2,323  
  2028                                                           2,310  
  2029                                                           2,336  
  2030 and thereafter                                            6,737  
  Total undiscounted lease payments       $                     22,306  
  Less