Company: REE
Filing Date: 2025-03-27
Form Type: 424B5
Source: 0001013762-25-003025
Chunk: 17

Company: REE Automotive Ltd.
Filing Date: 2025-03-27
Form: 424B5
Chunk 17
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 Consolidated Financial Statements (unaudited) as of and for the three, six and nine months ended September
30, 2024, attached as Exhibit 99.1 to our Report on Form 6-K filed on December 17, 2024, and incorporated by reference herein.

|                                                                                                                                                                                                                                        |     | As of September 30, 2024 |          |   |     |           |          |   |     |             |           |   |
|:---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------------------|---------:|:--|:----|:----------|---------:|:--|:----|:------------|----------:|:--|
| (U.S. dollars in thousands) (Unaudited)                                                                                                                                                                                                |     | Actual                   |          |   |     | Pro Forma |          |   |     | Pro Forma   
 As Adjusted |           |   |
| Shareholders’ equity:                                                                                                                                                                                                                  |     |                          |          |   |     |           |          |   |     |             |           |   |
| Ordinary Shares, without par value 33,333,333 authorized; 18,927,953 shares issued and outstanding (actual); 25,304,584 shares issued and outstanding (pro forma) and 27,523,760 shares issued and outstanding (pro forma as adjusted) |     |                          |          |   |     |           |          |   |     |             |           |   |
| Additional paid-in capital                                                                                                                                                                                                             |     | $                        |  968,301 |   |     | $         |  993,319 |   |     | $           | 1,002,562 |   |
| Accumulated deficit                                                                                                                                                                                                                    |     | $                        | (910,594 | ) |     | $         | (910,594 | ) |     | $           |  (910,594 | ) |
| Total shareholders’ equity                                                                                                                                                                                                             |     | $                        |   57,707 |   |     | $         |   82,725 |   |     | $           |    91,968 |   |

The above discussion and table
are based on 18,927,953 Ordinary Shares outstanding as of September 30, 2024 and excludes as of such date the following:

| ● | 3,834,246 Ordinary Shares issuable upon the exercise of outstanding options, at a weighted average exercise price of