DFLI Dragonfly Energy Holdings Corporation

Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) ("Dragonfly Energy" or the "Company"), an industry leader in energy storage and maker of Battle Born Batteries®, today announced the entry into a partnership with Keystone Automotive Operations, Inc. (“Keystone Automotive”), a leading distributor and marketer of specialty automotive equipment and accessories in North America. With this joint effort, Dragonfly Energy’s Battle Born Batteries brand of products are available for shipment from any of Keystone Automotive’s eight distribution centers for overnight or two-day delivery to Keystone Automotive's extensive network of suppliers across 48 states and 9 Canadian provinces via its truck delivery service.

This partnership is expected to increase the availability of Battle Born Batteries by leveraging Keystone Automotive's robust distribution network. Battle Born Batteries are available to Keystone Automotive customers across multiple industry segments, including the recreational vehicle (RV) industry through NTP-STAG, the marine industry through SeaWide, and the overlanding and off-grid industry through Keystone Automotive.

“Keystone Automotive brings an extensive network and a large, engaged audience to this partnership, which we believe will expand Dragonfly Energy's market presence," said Wade Seaburg, chief revenue officer at Dragonfly Energy. “In addition to their strong market presence, Keystone is known for delivering top-tier distribution services. We are proud to align with such a respected partner to provide customers the opportunity for increased accessibility to the batteries and products they rely on.”

“The addition of Dragonfly Energy’s Battle Born Batteries brand to our product offerings complements our commitment to quality, customer service, and providing our customers the best products on the market,” said Andy Morgan, director of marketing at Keystone Automotive Operations. “Dragonfly Energy’s products will allow us to provide our customers with powerful energy solutions that give them the benefit of extended lifespan, increased safety, and an environmentally responsible power solution.”

For more information about Dragonfly Energy, visit DragonflyEnergy.com. To learn more about Keystone Automotive Operations, visit KeystoneAutomotive.com.

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.

About Keystone Automotive Operations:Keystone Automotive Operations is the leading distributor and marketer of automotive aftermarket products and services, uniquely positioned to offer customers and suppliers substantial scale, the most comprehensive inventory selection in the industry, high levels of customer service and innovative marketing support. Keystone is committed to expanding its offerings to meet the ever-growing needs of its customer base, providing them everything they need, when they need it.

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 its partnership with Keystone Automotive, 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, 2023, 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 Caldwell Bailey, ICR, Inc.DragonflyIR@icrinc.com

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

Source: Dragonfly Energy Holdings Corp.