Safety Shot reports results for the second quarter of 2024 and

– Sales increased by 40% in the second quarter
– Operating costs reduced by 17.7% in the second quarter
– Recent clinical study confirms drastic reduction in blood alcohol content
– Revolutionary formula coming soon in convenient 4-ounce bottles
– Market launch of alcohol-reducing nutraceuticals in powder form in the fourth quarter

JUPITER, Fla., Aug. 16, 2024 (GLOBE NEWSWIRE) — Safety Shot, Inc. (Nasdaq: SHOT) (the “Company”), the revolutionary wellness and nutritional supplements company dedicated to promoting responsible alcohol consumption, announced its financial results for the second quarter ended June 30, 2024, as well as some corporate highlights for the quarter.

“We are very pleased with our financial performance and achievements in the second quarter of 2024. Dramatically increasing our revenues while dramatically reducing our operating expenses only demonstrates Safety Shot's determination to deliver value to stakeholders,” stated CEO Jarrett Boon. “We expect exciting things in the next few quarters and believe they will serve as catalysts to further strengthen the Company's financial results going forward. As we continue to execute on our business strategy, we remain focused on increasing our growth potential. This is illustrated by the promising clinical results the Company reported this month, as well as new partnerships and new product lines the Company will launch in the near future.”

Highlights of the second quarter of 2024:

• The company reported a 40% increase in sales in the second quarter compared to the first quarter.
• The company reports a 17.7% decrease in operating expenses in the second quarter compared to the first quarter, underscoring the significant progress in Safety Shot's financial health.
• The Company announces important new findings from a recent clinical trial conducted at the Center for Applied Health Sciences (“CAHS”)“). The double-blind, randomized, placebo-controlled study examined the acute effects of Safety Shot on the consumer's blood alcohol concentration (“BAC”) and successfully demonstrated remarkable and statistically significant results on several measures related to alcohol consumption and the subsequent rapid reduction in BAC. Within 30 minutes of taking Safety Shot, participants demonstrated a 30 to 50 percent faster reduction in alcohol consumption than the placebo group. Safety Shot's proprietary blend of vitamins, minerals and botanical ingredients is now clinically proven to be the world's first formula to help rapidly reduce alcohol consumption in the body.
• The company continues to develop multiple product formats and formulations to continue to offer a wide range of products that can be purchased in different locations according to consumers' shopping habits.
• The company announced that its revolutionary formula will be available in new, convenient 4-ounce bottles. Designed for easy on-the-go use, this new format ensures customers can benefit from Safety Shot's breakthrough formula anytime, anywhere. The 4-ounce bottles are expected to launch in the third quarter.
• The company's research and development team has succeeded in finding a powder solution that maintains 100% of the effectiveness of the world's first alcohol-reducing product. Safety Shot will be available in a convenient stick pack in the fourth quarter.
• The company announced a partnership with Capital Drugs as the brand expands its nationwide availability. Safety Shot will be available in all 300 of the drugstore chain's pharmacies across the United States, connecting the brand to its overarching wellness goal.
• The company announced a strategic partnership with Mr. Checkout, a national network of independent distributors, full-line grocery stores and wholesalers. This partnership represents a major milestone in Safety Shot's mission to bring a revolutionary solution to responsible drinking to the masses. Additional partnerships include GoPuff, BevMo and more.

About Safety Shot, Inc.

Safety Shot, Inc., a wellness and nutritional supplements company, has developed Safety Shot, the world's first patented wellness product that lowers blood alcohol content by supporting metabolism while increasing clarity, energy and overall mood. Safety Shot is available online at DrinkSafetyShot.com and Amazon. The company is launching B2B sales of Safety Shot to wholesalers, retailers, restaurants and bars later in 2024.

Forward-looking statements

This press release contains certain statements that contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 about us and our industry that involve significant risks and uncertainties. All statements in this press release that are not statements of historical fact, including statements regarding Safety Shot's ability to develop and commercialize a product to reduce blood alcohol content, the timing, progress and results of nonclinical studies and clinical trials, including our product development plans and strategies, Safety Shot's future results of operations or financial condition, business strategy and plans and management's objectives for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “seek,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Forward-looking statements are based on Safety Shot's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, among others, our ability to comply with applicable U.S. and foreign laws, rules and regulations, product liability claims, our ability to develop and commercialize Safety Shot, and the risks and uncertainties more fully described in the “Risk Factors” section of Safety Shot's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission on April 1, 2024, and its other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof, and Safety Shot undertakes no obligation to update this information, except as required by applicable law.

Contact for media and investors:

Autumn communication
Jess Weinberger
Phone: 201-213-3239
Email: [email protected]

Investor information
Medon Michaelides
Phone: 561-244-7100
Email: [email protected]