Dragonfly Energy Powers Highway Transport’s Fleet with Battle Born All-Electric APUs Seite 1

• Highway Transport, a North American leader in liquid chemical transportation, will begin integrating the Battle Born All-Electric APU into their fleet.
• The Battle Born All-Electric APU offers a comprehensive lithium iron phosphate (“LiFePO4”) based power solution that is expected to reduce Highway Transport’s fuel costs while increasing
  sustainability through emission reductions.
• This agreement demonstrates another major step forward for Dragonfly Energy as the Company continues to penetrate the commercial trucking industry with lithium power solutions.
  

RENO, Nev., Aug. 12, 2024 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) (“Dragonfly Energy” or the “Company”), an industry leader in energy storage and maker of Battle Born Batteries, is partnering with
Highway Transport, a North American leader in chemical transportation, to begin integrating the Battle Born All-Electric auxiliary power
unit (“APU”) into their fleet. This marks a notable move towards improved sustainability for Highway Transport, which plans to transition their fleet of over 500 trucks to a more cost-effective and
environmentally friendly solution. Highway Transport is expected to install the Battle Born All-Electric APU on new tractors in addition to retrofitting current models in their fleet.

The Battle Born All-Electric APU is an advanced lithium-ion battery system that provides ample wattage to run auxiliary power on trucks, even when a truck’s engine is not running. The product
grants increased comfort to drivers by allowing the operation of HVAC, appliances, and other electronics, while the truck is off. The product produces zero harmful emissions and no loud engine
idling. The unit recharges during drivetime and is expected to reduce Highway Transport’s fuel costs while increasing sustainability through emission reductions.

Highway Transport’s commitment to environmental responsibility is formalized in its Green Treads sustainability initiative. By partnering with Dragonfly Energy to implement the Battle Born All-Electric APU, Highway Transport
is taking a concrete step towards achieving its Green Treads goals of reducing emissions, improving fuel efficiency, and enhancing driver comfort.

“At Highway Transport, sustainability and driver well-being are paramount. Dragonfly Energy’s solution allows us to make significant strides on both fronts,” Marshall Franklin, chief executive
officer and chief financial officer for Highway Transport, said. “The added benefit of fuel cost savings further strengthens the value proposition of this partnership.”