DFLIW Dragonfly Energy Holdings Corporation

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in green energy storage and maker of Battle Born Batteries®, announced today its pledge to plant over 10,000 trees in collaboration with the National Forest Foundation (NFF), the official non-profit partner of the USDA Forest Service, in recognition of Earth Day and the Company’s commitment to sustainability.

In celebration of Earth Day, Dragonfly Energy launched its annual sale, held April 22 through 26, this year pledging to plant 10 trees for every battery sold during the week-long event. Partnering with the National Forest Foundation's Reforestation Program, they're ensuring these efforts make a significant impact within the United States. All trees will be planted on public lands, targeting areas where reforestation is needed most. The NFF collaborates with the USDA Forest Service to identify planting sites across the vast 193-million-acre National Forest System.

“At Dragonfly Energy, sustainability is more than just a buzzword – it’s the foundation of everything we do,” Tyler Bourns, CMO of Dragonfly Energy, said. “Partnering with the National Forest Foundation to plant trees is a natural extension of our commitment to green initiatives. From our eco-friendly products and practices to fostering healthier forests, we’re actively cultivating a greener future.”

Every Battle Born Battery sold helped to plant 10 trees with Dragonfly Energy's Earth Day pledge.

According to the NFF, America’s forests are the most efficient natural systems for pulling carbon dioxide (CO2) out of the atmosphere, with U.S. Forests sequestering up to 15% of the country’s CO2 emissions annually. Natural disturbances, however, continue to affect National Forests each year, with wildfires, insects, drought, and disease – all exacerbated by climate change – causing deforestation. By planting trees, NFF and companies like Dragonfly Energy are helping to restore these public lands and ensure that our forests can continue to sequester CO2, provide a habitat for wildlife, and mitigate the effects of climate change.

“We want to thank Dragonfly Energy for their commitment to reforestation in collaboration with the National Forest Foundation,” said Abby Schembra, NFF Reforestation Team. “The trees planted through this partnership will go on to foster positive change for our environment, biodiversity, and local communities. We couldn’t do this incredibly important work without partners like Dragonfly Energy.”

Leading the charge of natural solutions for climate change, the NFF has planted more than 33.5 million trees so far since the campaign began in 2018, with enough trees planted in 2022 alone to pull 4 million metric tons of CO2 emissions from the atmosphere over the course of 100 years. USDA National Forests sustain more than 3,000 species of wildlife and over 10,000 species of plants, with National Forest land existing in 42 states and Puerto Rico.

For more information about Dragonfly Energy, visit DragonflyEnergy.com. For more information about the National Forest Foundation and its Reforestation Program, visit NationalForests.org.

About National Forest FoundationThe National Forest Foundation works on behalf of the American public to inspire personal and meaningful connections to our National Forests. By directly engaging Americans and leveraging private and public funding, the NFF leads forest conservation efforts and promotes responsible recreation. Each year the NFF restores fish and wildlife habitat, facilitates common ground, plants trees in areas affected by fires, insects and disease and improves recreational opportunities. The NFF believes our National Forests and all they offer are an American treasure and are vital to the health of our communities. Learn more at nationalforests.org.

About Dragonfly EnergyDragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company's overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

To learn more about Dragonfly Energy and its commitment to clean energy advancements, 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 National Forest Foundation and its Reforestation Program, 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.dragonfly@radstrategiesinc.com

Source: Dragonfly Energy Holdings Corp.