VI.D.

GOVERNORS OFFICE OF ECONOMIC DEVELOPMENTS

FARADAY FUTURE INC. QUARTERLY ACTIVITY
REPORT (Q4 2016) PURSUANT TO NRS 360.895(2)
March 10, 2017

The Honorable Brian Sandoval

Office of the Governor
One Hundred One North Carson Street
Carson City, Nevada 89701

Mr. Richard Combs, Director

Legislative Counsel Bureau
401 South Carson Street
Carson City, Nevada 89701

Re: FF Inc. Quarterly Activity Report (Q4 2016)

Dear Governor Sandoval and Director Combs:

The Governor's Office of Economic Development (the Office) hereby submits this quarterly activity
report pursuant to NRS 360.895, Subsection 2 for the Qualified Project known as FF Inc. (the Project),
formerly known as Faraday Future. The attached report is based on information provided by the Lead
Participant, FF Inc. pursuant to the following requirements of NRS 360.895 subsection 2:

(a) The dollar amount of the partial abatements approved for the lead participant in each qualified project;
(b) The number of employees engaged in construction of each qualified project who are residents of
Nevada and the number of employees employed by each participant in each qualified project who are
residents of Nevada;
(c) The number of qualified employees employed by each participant in each qualified project and the total
amount of wages paid to those persons;
(d) For each qualified project an assessment of whether the participants in the qualified project are making
satisfactory progress towards meeting the investment requirements necessary to support the
determination by the Office that the project is a qualified project; and
(e) Any other information requested by the Legislature.

If further information is required, please contact me at your convenience.

Sincerely,

Mike Dang
Director of Business Operations
cc: Steve Hill, Ryan Smith
 Faraday Future Quarterly Activity Report
Quarter Ending December 31, 2016

FF Q4 2016 reporting requirements and responses to NRS 360.895, Subsection 2:

a. The dollar amount of the abatements approved for the Lead participant in the Project:

During Q4 2016 the dollar amount of the abatements approved for the lead participant was $241,254, and the 2016 year-
end total amount was $397,927. These abatements were allocated to a trust fund controlled by the Nevada Department of
Taxation.

b. The number of employees engaged in construction of each qualified project who are residents of Nevada, and the
number of employees employed by each participant in each qualified project who are residents of Nevada;

During Q4 2016, at the peak of onsite activities 176 construction workers were employed of which 101 were residents of
Nevada; at the completion of Phase I onsite activities for Q4 2016 there were 16 construction workers employed of which
6 were residents of Nevada. Further, at the peak of onsite activities Project-to-date (PTD), including this reporting
period, there were 327 construction workers of which 192 were residents of Nevada.

During Q4 2016, there were 10 additional employees employed by the sole participant, FF, of which 5 employees were
residents of Nevada. For the Project-to-date (PTD) there are 24 employees employed by FF, of which 9 employees were
residents of Nevada when they were hired.

c. The Number of Qualified Employees employed by each Participant in the Project and the total amount of wages
paid to these persons:

The NRS 360.891 definition of a qualified employee includes a requirement that such an employee have been employed
for at least the last 3 consecutive months of the fiscal year, meaning April, May and June of the prior State of Nevada
fiscal year. It also includes a requirement that such an employee be employed by a participant at the site of the qualified
project. As such, as of this time there can be no qualified employees any earlier than July 1 of 2017 and until they are
able to be located at the site. There were no qualified employees employed during the Q4 reporting period and, therefore,
there were no wages paid to such employees.

d. For the Project, an assessment of whether the Participants in the Project are making satisfactory progress towards
meeting the investment requirements necessary to support the determination by the Office that the Project is a
Qualified Project:

Through Q4 2016 FF accomplished the completion of Phase I of the project including the following:

1. Capital Investment of $160,000,000.

2. Completed all site demolition work.
3. Graded and moved over 2.5 million cubic yard of earth on site.
4. Completed installation of the underground sewer.
5. Completed grading with the exception of the north and south channels not required for this phase.
6. Certified that the pad for the factory building is at grade and ready for the start of foundations.
7. Established On-site offices for both Faraday Future employees and the General Contractor.
8. Leased additional interim office and meeting space in the city of North Las Vegas.

e. Any other information requested by the Legislature.

No further information requested at this time for this report.

 VI.E.
GOVERNORS OFFICE OF ECONOMIC DEVELOPMENTS
FARADAY FUTURE INC. QUARTERLY ACTIVITY
REPORT (Q1 2017) PURSUANT TO NRS 360.895(2)
May 22, 2017

The Honorable Brian Sandoval

Office of the Governor
One Hundred One North Carson Street
Carson City, Nevada 89701

Mr. Richard Combs, Director

Legislative Counsel Bureau
401 South Carson Street
Carson City, Nevada 89701

Re: FF Inc. Quarterly Activity Report (Q1 2017)

Dear Governor Sandoval and Director Combs:

The Governor's Office of Economic Development (the Office) hereby submits this quarterly activity
report pursuant to NRS 360.895, Subsection 2 for the Qualified Project known as FF Inc. (the Project),
formerly known as Faraday Future. The attached report is based on information provided by the Lead
Participant, FF Inc. pursuant to the following requirements of NRS 360.895 subsection 2:

(a) The dollar amount of the partial abatements approved for the lead participant in each qualified project;
(b) The number of employees engaged in construction of each qualified project who are residents of
Nevada and the number of employees employed by each participant in each qualified project who are
residents of Nevada;
(c) The number of qualified employees employed by each participant in each qualified project and the total
amount of wages paid to those persons;
(d) For each qualified project an assessment of whether the participants in the qualified project are making
satisfactory progress towards meeting the investment requirements necessary to support the
determination by the Office that the project is a qualified project; and
(e) Any other information requested by the Legislature.

If further information is required, please contact me at your convenience.

Sincerely,

Mike Dang
Director of Business Operations
cc: Steve Hill, Ryan Smith
 Faraday Future Quarterly Activity Report
Quarter Ending March 31, 2017

Reporting requirements and FF Q1 2017 responses to NRS 360.895, Subsection 2:

a. The dollar amount of the abatements approved for the Lead participant in the Project:

During Q1 2017 the dollar amount of the abatements approved for the lead participant was $206,827; and the 2017 year to
date total amount was $206,827. These abatements were allocated to a trust fund controlled by the Nevada Department of
Taxation.

b. The number of employees engaged in construction of each qualified project who are residents of Nevada, and the
number of employees employed by each participant in each qualified project who are residents of Nevada;

During Q1 2017, at the peak of onsite activities there were 25 construction workers of which 12 were residents of Nevada;
and at the completion of onsite activities for Q1 2017 there were 23 construction workers of which 10 were residents of
Nevada. Further, at the Project-to-date (PTD) peak, there were 327 construction workers of which 192 were residents of
Nevada.

During Q1 2017, there were 2 employees who were hired by/started work for the sole participant, FF, of which 0
employees were residents of Nevada. For the Project-to-date (PTD) there are 24 employees employed by FF, of which 8
employees were residents of Nevada when they were hired.

c. The Number of Qualified Employees employed by each Participant in the Project and the total amount of wages
paid to these persons:

There were no NRS 360.891 qualified employees employed during the Q1 2017 reporting period and, therefore, there were
no wages paid to such employees.

d. For the Project, an assessment of whether the Participants in the Project are making satisfactory progress towards
meeting the investment requirements necessary to support the determination by the Office that the Project is a
Qualified Project:

FF investment of $14,000,000 during the first quarter of 2017. This brings their total project-to-date capital investment to
approximately $174,000,000.

FF is making satisfactory progress to support the determination that the Project is a Qualified Project.

e. Any other information requested by the Legislature.

No further information requested for this report.