Damon Motors Returns to CES 2024 With HyperFighter Superbike

Damon Motors Inc. ("Damon" or the "Company") today announced it will return to CES, organized by the Consumer Technology Association, to showcase its award-winning HyperFighter electric motorcycle. The naked streetfighter motorcycle offers 200 hp, 200 nm of torque, a top speed of 170 miles per hour, and an estimated 146-mile range on a single charge. It will be on display in the NXP® Semiconductors booth CP-19 at the Las Vegas Convention Center Central Plaza, January 9-12, 2024.

"CES 2020 is where it all started for us and we're excited to be back," said Jay Giraud, CEO, Damon Motors. "We're eager to give CES attendees an up-close look at the future of motorcycling with our HyperFighter superbike. We'll also be making key partnership announcements that will further our mission to create the industry's smartest, safest and most powerful motorcycles."

In pursuit of its vision to become the future of motorcycling, Damon has developed groundbreaking technologies for its line of motorcycles, including its CoPilottm advanced warning system; and Shifttm, which transforms the riding position between sport and commuter modes with the push of a button, which are built into HyperDrivetm, a first of its kind, ultra-high-performance exoskeleton powertrain that will form the basis of a wide range of motorcycle models and sizes.

Damon has won over a dozen awards for its innovations including a 2022 CES Best in Innovation award for its HyperDrive technology and a 2020 CES Best in Innovation award for its flagship HyperSport motorcycle. The Company has also received awards from The Edison Awards, GOOD DESIGN, Digital Trends, Red Herring, Popular Science, Robb Report, and more.

Damon's return to CES comes on the news of its announced merger in partnership with Inpixon, with plans for a NASDAQ listing of the combined company. Damon has been riding a wave of momentum and growth, including raising $70M in funding and securing more than $85M in deposit-backed reservations for its superbikes. The Company has also been granted several patents and entered into global partnerships for distribution with Auteco (Latin America) and Indika IMG (Indonesia).

For more information, visit damon.com.

About Damon Motors

Damon Motors is a global technology leader disrupting urban mobility, led by entrepreneurs and executives from world class automotive and technology companies. With its offices in San Rafael, California and headquartered in Vancouver, Canada, Damon is on a mission to cause a paradigm shift for safer, smarter motorcycling. The Company is delivering on its promise with award-winning innovation and groundbreaking technologies. Anchored by its proprietary electric powertrain, HyperDrive, Damon has captured the attention of the motorcycling world by delivering top speeds of 200 mph, innovative design, and new features, including CoPilot and Shift, that are attracting an entirely new generation of riders. With strong consumer interest in the US and abroad, Damon aims to set a new standard for motorcycle safety and sustainability worldwide. For more information on how Damon technology is defining the new industry standard, please visit damon.com and follow the Company on LinkedIn, Instagram, Facebook, and Twitter.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, "forward-looking statements"), which reflect Damon's current expectations and projections about its future development. When used in this press release, forward-looking statements can be identified by the use of words such as "may," or by such words as "will," "intend," "believe," "estimate," "consider," "expect," "anticipate," and "objective" and similar expressions or variations of such words. Forward-looking statements are, by their nature, not guarantees of Damon's future operational or financial performance and are subject to risks and uncertainties and other factors that could cause Damon's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. No representation or warranty is intended with respect to anticipated future results, or that estimates, or projections will be sustained.

Forward-looking statements in this press release include, but are not limited to, statements relating to the completion of the merger in partnership with Inpixon, the proposed listing on the NASDAQ for the shares of the combined company following the merger, the global reservations amount for the pre-production of Damon motorcycles and the expected performance level of Damon motorcycles.

In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which Damon operates and the general market conditions.

Many risks, uncertainties, and other factors could cause the actual results of the Damon to differ materially from the results, performance, achievements, or developments expressed or implied by such forward-looking statements. These risks, uncertainties, and other factors include, but are not limited to, the following:

• the risk that the proposed merger may not be completed in a timely manner or at all;
• the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed merger;
• the inability to satisfy the initial listing criteria of NASDAQ or obtain NASDAQ approval of the initial listing of the combined company following the merger;
• the risk that Damon's $85 million of non-binding reservations are canceled, modified, delayed or not placed and that Damon must return the refundable deposits and such reservations are not converted into sales;
• the risks relating to Damon's ability to satisfy the conditions and deliver on the orders and reservations, its ability to maintain quality control of its motorcycles, and Damon's dependence on third parties for supplying components and manufacturing the motorcycles;
• the risk that other motorcycle manufacturers develop competitive electric motorcycles or other competitive motorcycles that adversely affect Damon's market position;
• the risk that Damon's patent applications may not be approved or may take longer than expected, and Damon may incur substantial costs in enforcing and protecting its intellectual property;
• any adverse changes in U.S. or Canadian general economic, business, market, financial, political or legal conditions, including as a consequence of the ongoing uncertainties relating to inflation and interest rates;
• any adverse effects of current military conflict between Russia and Ukraine or the Israeli-Hamas War, which continues to affect economic and global financial markets and exacerbate ongoing economic challenges;
• any unfavorable fluctuations and volatility in the availability or price of raw materials included in components used to manufacture Damon's products;
• the reliance on key management and any inability to attract and/or retain key personnel; and
• any inability to raise additional funds to meet its capital requirements and pursue its growth strategy when and in the amounts needed.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of the press release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, events may differ materially from current expectations. Damon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required pursuant to applicable securities law. All forward-looking statements contained in the press release are expressly qualified in their entirety by this cautionary statement.