REE Automotive to Participate in Leading Investor Conferences in Q1 2022

REE Automotive Inc

REE Automotive Inc

REE co-founder & CEO Daniel Barel will talk about how REE’s engineering, modular platforms, and enterprise product can speed up electrification for fleets throughout fireplace chats, 1-on-1 and compact group meetings

TEL AVIV, Israel, Feb. 11, 2022 (Globe NEWSWIRE) — REE Automotive Ltd. (NASDAQ: “REE”), an automotive technological know-how leader and service provider of electric powered motor vehicle platforms, these days declared that it will participate in a sequence of trader conferences in the initially quarter of 2022. Daniel Barel, REE co-founder and chief executive officer and David Goldberg, REE main fiscal officer, will examine REE’s manufacturing progress on its latest fully-flat P7 platform for industrial fleets, go-to-market place method with major associates for platforms and full autos, and technique for producing a entire ecosystem from charging infrastructure to Facts-as-a-Service to accelerate fleet electrification ideas.

Baird Sustainability Meeting – digital
Tuesday, Feb. 22 – Wednesday, Feb. 23
Hearth chat: 12 p.m. ET – obtainable for Baird customers only.

For access and/or 1-on-1 conference, please get hold of your Baird banker.

Cowen and Co – Mobility Disruption Summit – digital
Thursday, March 3
Fireside chat: 9:50 a.m. ET.

Berenberg Industrial Tech Conference – digital
Thursday, March 3

Roth Cash Companions – 34th Annual Roth Convention – The Ritz-Carlton, Laguna Niguel – Dana Place, California

Monday, March 14 – Tuesday, March 15

DA Davidson – EV & Electricity Transition Convention – digital
Tuesday, March 22

For current facts with regards to fireplace chat situations and webcast back links be sure to go to: https://traders.ree.vehicle/news-functions/activities

Investors who want to take part in a digital or a stay (where applicable) meeting with REE’s management in the course of the conferences could refer to their banking contact or to Limor Gruber, REE VP of Trader Relations, at Limorg@ree.vehicle.

For the most up-to-date investor information and facts go to: https://buyers.ree.auto

About REE Automotive

REE (Nasdaq: REE) is an automotive engineering chief whose mission is to empower organizations to create any size or form of electrical or autonomous automobile – from Class 1 by way of Course 6 – for any software and any focus on current market. REE aims to provide as the underpinning on prime of which EVs and AVs will be created and envisions a foreseeable future where by EVs and AVs will be ‘Powered by REE’.

REE’s revolutionary engineering – the REEcorner™ – packs significant car or truck elements (steering, braking, suspension, powertrain and command) into a solitary compact module positioned involving the chassis and the wheel, enabling REE to construct the industry’s flattest EV platforms with additional place for travellers, cargo and batteries. REE makes use of x-by-wire technological innovation to management each individual of the corners of the automobiles with comprehensive drive-by-wire, brake-by-wire and steer-by-wire.

REE’s EV platforms pay for finish flexibility of style and design, enabling automobile-makers, OEMs, shipping & logistic fleets, Mobility-as-a-Company vendors and new mobility gamers to style mission-specific EVs and AVs centered on their precise organization specifications and drastically reduce their time-to-current market, lower TCO and meet zero-carbon rules.

Headquartered in Herzliya, Israel, REE has an Engineering Centre in the Uk, as well as subsidiaries globally which includes Japan and Germany, and ideas to open up its U.S. headquarters and to start with Integration Centre in Austin, Texas. REE’s special CapEx-mild producing design leverages Tier-1 partners’ existing manufacturing traces the company’s in depth spouse ecosystem encompasses top names which includes Hino Motors (truck arm of Toyota), Magna Intercontinental, JB Poindexter, Navya and American Axle & Production to supply a entire turnkey solution.

REE’s patented technology, collectively with its one of a kind price proposition, position it to break new ground in e-Mobility. For additional info visit https://www.ree.vehicle.

Trader Relations
Limor Gruber
VP Trader Relations | REE Automotive
+972-50-5239233
investors@ree.automobile

Media
Caroline Hutcheson
Head of World Communications | REE Automotive
+1-252-314-2028
media@ree.automobile

Warning About Forward-Searching Statements
This interaction consists of forward-hunting statements in the that means of the Personal Securities Litigation Reform Act of 1995. All statements, other than statements of historical specifics, may well be ahead-on the lookout statements. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plan,” “projects,” “believes,” “views,” “estimates,” “future,” “allow”, “aims,” “strives,” “endeavors” and related expressions are employed to establish these ahead-seeking statements. These statements incorporate, between other items, the Company’s statements about the Company’s strategic and business enterprise options, interactions or outlook, the impact of developments on and desire in its company, mental house or products and its upcoming benefits. These ahead-on the lookout statements are primarily based on REE’s expectations and beliefs relating to upcoming situations and involve threats and uncertainties that may possibly trigger actual success to vary materially from present-day anticipations. These components are complicated to predict accurately and might be outside of REE’s regulate. Ahead-searching statements in this conversation or elsewhere discuss only as of the date built and REE undertakes no obligation to update its ahead-searching statements, no matter whether as a final result of new details, long term developments or otherwise, need to circumstances alter, other than as usually demanded by securities and other relevant guidelines. In light-weight of these hazards and uncertainties, buyers ought to hold in head that success, gatherings or developments talked about in any ahead-hunting assertion built in this communication may possibly not occur. Uncertainties and hazard aspects that could have an impact on REE’s future functionality and lead to success to differ from the ahead-searching statements in this release incorporate, but are not minimal to: REE’s ability to commercialize its strategic approach REE’s skill to preserve and progress associations with current Tier 1 suppliers and strategic companions advancement of REE’s sophisticated prototypes into marketable solutions REE’s skill to grow and scale manufacturing capability by relationships with Tier 1 suppliers REE’s estimates of device gross sales, expenses and profitability and underlying assumptions REE’s reliance on its Uk Engineering Centre of Excellence for the design, validation, verification, testing and homologation of its products REE’s constrained running record dangers affiliated with strategies for REE’s initial business generation REE’s dependence on prospective suppliers, some of which will be solitary or confined source development of the market place for professional EVs powerful competitors in the e-mobility house, together with with opponents who have significantly far more means pitfalls linked to the fact that the Firm is incorporated in Israel and ruled by Israeli regulation REE’s capability to make continued investments in its platform the impression of the ongoing COVID-19 pandemic and any other all over the world wellness epidemics or outbreaks that may perhaps come up the need to draw in, teach and keep extremely-experienced technological workforce variations in laws and regulations that affect REE REE’s means to implement, shield and preserve mental assets legal rights REE’s potential to keep engineers and other hugely qualified staff to further more its plans and other challenges and uncertainties established forth in the sections entitled “Risk Factors” and “Cautionary Observe Relating to Ahead-Looking Statements” in REE’s last prospectus relating to its organization blend submitted with the U.S. Securities and Trade Commission (the “SEC”) on July 1, 2021 and in subsequent filings with the SEC. Even though the listing of elements discussed previously mentioned and the list of things presented in the ultimate prospectus are regarded representative, no this sort of record ought to be regarded to be a total assertion of all possible threats and uncertainties. Unlisted things may existing considerable more hurdles to the realization of forward-hunting statements.

Trump Deal Faced Widespread Investor Doubt Before Raising $1 Billion

Regulators opened the inquiry after The New York Periods reported that the chief govt of Digital Environment, Patrick Orlando, experienced talks with reps of Trump Media as significantly again as March and had in no way disclosed that to investors — potentially flouting securities rules. Regulators are also on the lookout into trading in Electronic Environment securities that happened prior to the merger announcement.

As the start off-up waits for the regulatory scrutiny to wrap up and its merger with Digital Globe to close, many people today shut to Mr. Trump have sought to raise a handful of million dollars from past supporters of his to give Trump Media with money to get heading, claimed men and women who were being approached or instructed about the attempts.

Between individuals urging Trump donors to commit is Roy Bailey, a lobbyist who is also raising cash for a tremendous PAC that is funding Mr. Trump’s political operation as he weighs yet another presidential marketing campaign in 2024, two folks approached by Mr. Bailey reported.

Just one Republican donor, Dan Eberhart, who said he experienced put in time at the previous president’s Mar-a-Lago Club in Florida not too long ago, explained he experienced “been approached by a amount of people in Trump’s orbit” about investing in Trump Media. But, Mr. Eberhart reported, “my concentration is on investing in candidates to support us earn back again the Senate.”

If regulators approve Trump Media’s merger with Digital Earth, traders in the $1 billion non-public offer stand to do very well no matter if or not the corporation thrives. As component of the deal, buyers get to buy shares of Trump Media for approximately 40 per cent fewer than the prevailing sector selling price. If the shares increase, they can revenue from the rally. If the shares tumble, their prospect of losing income is considerably lessen than that of the company’s other investors.

The investors also have the proper to “short,” or borrow stock to wager on a fall of Trump Media shares, as a even more safety from the risk of a selling price decrease.

Vik Mittal, chief investment officer with Meteora Capital, which invested in the Digital Planet I.P.O., mentioned the PIPE “provides draw back defense to PIPE investors if shares of Digital Earth drop and limitless upside if the offer is effective out.” His organization thought of likely into the PIPE but declined for motives that Mr. Mittal did not want to divulge.

In the meantime, retail buyers have turned Digital Planet into a little something of “meme stock,” propping up its share rate partly mainly because of its affiliation with Mr. Trump. Shares trade around $80 — considerably higher than the $10 rate of the SPAC’s original general public presenting.

Susan C. Beachy contributed exploration.

International Game Technology PLC Hosting 2021 Investor Day Today

Commits to Compelling 2025 Growth Objectives and Announces Multi-Year Share Buyback Program

– Grow, Innovate, and Optimize strategic initiatives to deliver accelerated, compound annual growth rates of mid-single-digits for revenue and mid-teens for operating income from 2022 – 2025

– Expect to deliver strong cash flow generation with cumulative cash from operations of approximately $4.0 billion and free cash flow of about $2.4 billion from 2022 – 2025

– Balanced capital allocation plans support business reinvestment, debt reduction, and increased shareholder returns

$300 million multi-year share buyback program announced, enhancing shareholder returns after recently reinstating quarterly cash dividend

– Separate public listing of the Digital & Betting business under evaluation

LONDON, Nov. 16, 2021 /PRNewswire/ — International Game Technology PLC (“IGT”) (NYSE:IGT) will host a virtual Investor Day today at 8:30 am EST, detailing the progress the Company has made over the past two years to build a solid foundation for profitable growth across all business segments, generate robust cash flows, and pursue a disciplined capital allocation strategy.

IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

IGT (NYSE:IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

“IGT’s industry leadership is built on a legacy of innovation and trust. Through greater player engagement, responsible management, and best-in-class content, services, and solutions, we are well-positioned for profitable growth,” said Marco Sala, CEO of IGT. “Our diverse portfolio aligns with attractive end-markets and our strategy is to grow, innovate, and optimize. Over the next four years, we are confident we can deliver accelerating organic growth, significant margin expansion, and robust free cash flow to drive stakeholder value and increased shareholder returns.”

Strategic Initiatives to Grow, Innovate, and Optimize Provide Foundation for Compelling Long-term Outlook

  • Grow: leverage innovation in content and solutions as well as leading market positions to expand market share, support customer sales growth, and capture new market opportunities

  • Innovate: utilize large and highly differentiated intellectual property portfolio and leading investment in research and development to create best-in-class games, systems, and solutions to further enhance player experiences and support customer growth

  • Optimize: operational excellence and structural cost reductions enable continued margin improvement; new OPtiMa 2.0 cost-reduction program expected to deliver more than $150 million in incremental savings, compared to pre-pandemic levels, by the end of 2023

Introducing 2022 Outlook

  • Revenue of $4.1$4.3 billion

  • Operating margin of 20{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} – 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

  • Cash from operations ranging from $850 million$1.0 billion

  • Capital expenditures totalling $400 million$450 million

  • Net debt leverage of 3.5x – 4.0x

Setting Compelling and Achievable Financial Goals for 2022 – 2025, Including Robust Growth in Revenue and Margins and Significant Cash Flow Generation

  • Revenue of $4.6$5.0 billion in 2025, reflecting a mid-single-digit compound annual growth rate (“CAGR”)

  • Mid-teens operating income CAGR; operating margin expansion of over 500 basis points to 26{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} – 29{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} (at the mid-point) in 2025

  • Cumulative cash from operations of approximately $4.0 billion; free cash flow of approximately $2.4 billion

Disciplined Capital Allocation Plans Balance Reinvestment in the Business with Increased Shareholder Returns

  • A comprehensive capital investment plan of approximately $2.8 billion in aggregate capital expenditures and research and development from 2022 – 2025, supporting the existing portfolio with a focus on fast-growing iLottery and Digital & Betting activities

  • Continue to reduce leverage to a range of 2.5x – 3.5x across the investment cycle, targeting the lower part of the guidance range by 2025

  • Reinstated quarterly cash dividend of $0.20 per common share (previously announced with earnings on November 9, 2021)

  • Implementing $300 million multi-year share repurchase program, the first in IGT PLC’s history

Strategic Positioning to Increase Optionality for Digital & Betting Segment

Event Details
Tuesday, November 16, 2021
8:30 a.m. – 11:30 a.m. EST

Webcast Registration: A live webcast is available under “Events Calendar” on IGT’s Investor Relations website at www.IGT.com. Registration for the event is required and can be completed in advance. A replay will also be available on the website following the call.

Presentation Materials: Materials presented at the event will be posted on IGT’s Investor Relations website at www.IGT.com during the event.

Share Repurchase Program
IGT’s Board of Directors authorized a program for the repurchase of up to $300 million of the Company’s outstanding ordinary shares during a period of four years commencing on November 18, 2021.

Repurchases will be made pursuant to repurchase contracts entered into with counterparties approved by IGT’s shareholders, pursuant to which such counterparties will purchase ordinary shares for delivery to the Company. The timing and amount of any repurchases will be determined by IGT’s management based on an evaluation of market conditions, applicable securities laws and other factors. These repurchases may be made pursuant to repurchase plans that meet the requirements of Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Rule 10b5-1 allows the Company to repurchase its ordinary shares at times it might otherwise be prevented from doing so under insider trading laws or because of self-imposed blackout periods.

The share repurchase program is expected to be funded through cash generated from operations. Any shares acquired pursuant to the repurchase program will be cancelled or held in treasury. The repurchase program does not obligate the Company to acquire any particular amount of its ordinary shares, and it may be suspended or terminated at any time.

Any repurchases of the Company’s ordinary shares will be made in accordance with the authority granted by IGT shareholders at its annual general meeting (“AGM”) to repurchase ordinary shares that is in effect from time to time. At its 2021 AGM, IGT shareholders voted to authorize the repurchase of up to 20,485,646 ordinary shares of the Company. Repurchases will be discontinued in the event the Company lacks the general authority to repurchase ordinary shares.

Evaluation of Potential Separate Public Listing of Digital & Betting Business
IGT recently established a dedicated Digital & Betting business segment, enhancing visibility to this high-growth part of IGT’s portfolio of businesses. As a part of its ongoing commitment to ensuring appropriate strategic flexibility for its Digital & Betting business, the Company is also undertaking a legal entity and organizational realignment over the next 12 months designed to provide the Digital & Betting business with dedicated management, a more nimble organization and governance structure and the ability to pursue organic and inorganic growth opportunities. As part of this process, the Company may evaluate a potential separate public listing of its Digital & Betting business to further enhance its strategic flexibility while maintaining a controlling interest following the consummation of any such potential separate public listing. There can be no assurances as to the form and timing of any separate public listing or other strategic activity that may result from this evaluation or if any such listing or activity will be consummated at all. IGT does not currently intend to disclose further developments regarding its evaluation of a potential separate public listing for its Digital & Betting business until such time as a final determination has been made or IGT otherwise determines that further disclosure is appropriate.

About IGT
IGT (NYSE: IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivalled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.IGT.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall”, “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements do not guarantee future performance and speak only as of the date on which such statements are made. These forward-looking statements are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2020 and other documents filed from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contact
Phil O’Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, +39 06 5189 9184; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190

Cision

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SOURCE International Game Technology PLC