ADS-TEC Energy and JOLT Energy deepen long-standing partnership with rollout targets for an ultra-fast charging network in city centers

• By combining battery storage and charging stations, ADS-TEC Energy enables charging infrastructure in city centres to scale rapidly without expanding the grid.
• Charge Point Operator JOLT Energy (JOLT) relies on ADS-TEC Energy's battery-buffered charging solutions
• JOLT receives €150 million in financing from infrastructure investors to build an ultra-fast charging network in cities – more than 1,000 charging points are planned over the next 18 months
• JOLT has already ordered a high double-digit number of systems for 2023.

NÜRTINGEN, Germany – May 17, 2023 – ADS-TEC Energy (NASDAQ: ADSE), a leading international manufacturer of battery-storage-based platform solutions, and JOLT Energy today announced that they are deepening their longstanding cooperation in the rollout of ultra-fast charging stations in major cities across Europe and the United States under their existing strategic partnership. JOLT has already ordered a high double-digit number of systems for 2023, with further orders planned in line with its rollout schedule. The collaboration underscores the strong demand for a fast, convenient charging experience, particularly in urban areas. ADS-TEC Energy's battery-buffered ultra-fast charging solutions deliver up to 320 kW of charging power even on capacity-constrained low-voltage grids without grid expansion. Waiting for a grid upgrade can take months, and cities often have no room for transformer substations. By contrast, ADS-TEC Energy charging stations can be integrated quickly into existing sites while occupying very little space. They also support the grid, store surplus renewable energy and make that energy available for charging or other needs. The charging stations thus become energy platforms that enable sustainable on-site energy management for operators and fast charging for EV drivers.

JOLT has been using ADS-TEC Energy's ChargeBox ultra-fast charging system in Germany for more than a year. The charging solutions are installed primarily in metropolitan areas and are frequently used by EV drivers. JOLT's high-traffic charging points already record average weekly utilisation of more than 60%, and the figure is rising. The task now is to dramatically accelerate the rollout of fast-charging stations to meet strong demand. “The investment in JOLT by an infrastructure investor shows that exponentially growing fast-charging networks are recognised as a decisive factor in the widespread electrification of urban transport,” says Maurice Neligan, CEO of JOLT Energy.

Thomas Speidel, CEO of ADS-TEC Energy: “We are delighted to deepen our strategic cooperation with JOLT as we pursue our shared goal: ultra-fast charging almost anywhere. In inner-city areas in particular, the necessary grid power is often unavailable and free space is scarce. That is exactly where our charging solutions are ideally suited: they enable ultra-fast charging even with limited-power electricity connections, take up little space and are easy to install. Their large storage capacity and versatility make them a valuable platform for the energy transition.”

About ADS-TEC Energy

ADS-TEC Energy Inc. is a US subsidiary of the German ads-tec Energy GmbH, itself a subsidiary of the publicly traded (NASDAQ) Irish company ads-tec Energy plc. Drawing on more than ten years of experience with lithium-ion technology, ADS-TEC Energy develops and manufactures battery storage solutions and fast-charging systems, including their energy management systems. Its storage-based fast-charging technology enables ultra-fast charging of electric vehicles even on power grids with limited capacity and features a very compact design. The technology was recently nominated by the President of the Federal Republic of Germany for the German Future Prize and named among the 'Best of the Best' in 2022. The battery systems' high quality and functionality are the result of exceptionally extensive in-house development and manufacturing. With its advanced system platforms, the company is a valuable partner for car manufacturers, OEMs, energy suppliers and charging operators.

More information at: www.ads-tec-energy.com

About JOLT Energy

JOLT Energy, a charge point operator (CPO) founded in 2018 and based in Dublin and Munich, offers motorists ultra-fast charging in European and North American cities. With charging power of up to 320 kW, JOLT's infrastructure can add enough energy for approximately 200 km of driving in just ten minutes. The company's core expertise lies in developing, financing and operating charging infrastructure at the intersection of energy generation and distribution.

JOLT works with a variety of businesses, including petrol stations and supermarkets, to bring ultra-fast charging into city centres. JOLT charging stations have integrated battery storage, allowing them to connect to the ordinary low-voltage grid without extensive grid expansion. The JOLT charging network serves as an intelligent energy storage system that can balance the supply of and demand for renewable electricity in real time, stabilise the grid and create additional sources of revenue. This approach not only meets the demand of its customers and partners for ultra-fast charging sessions, but also supports the global energy and mobility transition towards a sustainable, fully electric transport system.

More information at: www.jolt.energy

Forward-looking statements

This press release contains forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect”, “estimate”, “project”, “budget”, “forecast”, “anticipate”, “intend”, “plan”, “may”, “will”, “could”, “should”, “believe”, “predict”, “potential”, “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements about our financial outlook for 2023, our expectations concerning future performance and the expected timing of certain commercial activities.

A substantial number of factors could cause actual results to differ materially from the statements made in this press release, including: the effects of the COVID-19 pandemic; geopolitical events, including Russia's invasion of Ukraine; the impact on the overall economy, our business and those of our customers and suppliers of macroeconomic trends, including changes in inflation or interest rates, or other events beyond our control, including supply-chain disruptions and cost increases; our limited operating history as a publicly traded company; our dependence on widespread acceptance and adoption of electric vehicles and increasing installation of charging stations; our current dependence on sales to a limited number of customers for the majority of our revenue; overall demand for EVs and the potential for reduced demand if government rebates, tax credits and other financial incentives are reduced, modified or eliminated, or if government regulations intended to increase EV use or reduce the use of fossil-fuel-powered vehicles, whether directly or indirectly through mandated carbon-emission limits, are reduced, modified or eliminated; supply-chain disruptions and cost increases; unexpected delays in launching new products; our ability to expand our operations and market share in Europe and the United States; the effects of competition; the effects of the United States; the effects of competition; changes in battery storage standards; and the risk that our technology may contain undetected defects or errors.

Other risks and uncertainties that could affect our financial results are described under “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F, which we filed with the Securities and Exchange Commission (SEC) on 11 May 2023 and which is available on our website at https://www.ads-tec-energy.com/en/company/invest and on the SEC website at www.sec.gov. Further information will also be included in other filings we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us at the time of publication, and we undertake no obligation to update the forward-looking statements provided to reflect events or circumstances arising after the date on which they were made, except as required by applicable law.

Contacts

JOLT Energy press contact: Martin Betzold Head of Brand, Marketing & Communication Email: martin.betzold@jolt.energy Phone: +49 (0) 174 3397 244 www.jolt.energy

ADS-TEC Energy United States: Stephannie Depa Breakaway Communications sdepa@breakawaycom.com +1 530-864-0136

ADS-TEC Energy Europe: Dennis Müller, SVP Product Marketing & Communication, press@ads-tec-energy.com

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