DFLIW Dragonfly Energy Holdings Corporation

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), a Nevada-based leader in lithium-ion battery technology, today announced that Nevada Governor Joe Lombardo, U.S. and Canadian officials, representatives from Dragonfly Energy, and other select Nevada business leaders recently visited Montreal and Toronto during a Nevada Trade Mission to Canada focused on mining, technology, and green energy storage from September 26-28, 2023.

During the trade mission, representatives from Dragonfly Energy explored potential opportunities for collaboration and contributed to meaningful conversations about battery innovation and sustainable energy solutions.

“Nevada is poised to be the center of the lithium revolution and green energy development,” Governor Lombardo said. “Businesses like Dragonfly Energy are uniquely positioned to diversify the existing lithium supply chain. Cooperating with Canada and their strong mining sector will help to provide support to these businesses so that together we can realize Nevada’s potential to lead North America in securing energy independence from overseas.”

“We were proud to help represent the Nevada battery manufacturing industry and to shine a spotlight on Nevada’s place in the ranks of global lithium supply and lithium battery innovation,” said Dragonfly Energy’s Director of Government Affairs Dominic Sinnott, who attended the mission along with Dragonfly Energy Research and Development Director Dr. Vick Singh.

Core areas of focus and exploration during the mission included mining, critical minerals, technology, electric vehicles and the battery supply chain.

“Being part of this mission helped us further explore the opportunities that Canada offers in terms of materials required by our current and future products,” Dr. Singh said. “We facilitated important discussions around the battery supply chain, increasing sustainability in the industry, and explored prospects to support our ongoing expansion plans.”

A snapshot of Nevada Trade Mission attendees included representatives from:

• U.S. Department of Commerce
• U.S. Department of State
• Nevada Governor’s Office, including Nevada Governor Joe Lombardo
• Governor’s Office of Economic Development
• Canadian government officials and businesses
• Nevada businesses, including Dragonfly Energy

To learn more about Dragonfly Energy, visit DragonflyEnergy.com.

About Dragonfly EnergyDragonfly Energy Holdings Corp. (Nasdaq: DFLI) headquartered in Reno, Nevada, is a leading supplier of deep cycle lithium-ion batteries. Dragonfly Energy’s research and development initiatives are revolutionizing the energy storage industry through innovative technologies and manufacturing processes. Today, Dragonfly Energy’s non-toxic deep cycle lithium-ion batteries are displacing lead-acid batteries across a wide range of end-markets, including RVs, marine vessels, off-grid installations, and other storage applications. Dragonfly Energy is also focused on delivering an energy storage solution to enable a more sustainable and reliable smart grid through the future deployment of its proprietary and patented solid-state cell technology. To learn more, visit www.dragonflyenergy.com/investors.

Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief, or expectations, including, but not limited to, statements regarding the Company’s participation in the Nevada Trade Mission to Canada, the Company’s future results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such factors include those set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and in the Company’s subsequent filings with the SEC available at www.sec.gov. If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Investor Relations Sioban Hickie, ICR, Inc.DragonflyIR@icrinc.com

Media RelationsAmy Demuth, RAD Strategies Inc.media@radstrategiesinc.com

Source: Dragonfly Energy Holdings Corp.