~ The Third Company in U.S. to Launch Dehumidifier Product Offering for the Indoor Growing Market ~ ~ The Efinity Dehumidifier Meets the More Stringent R-32 Environmentally Friendly Standard ~ ~ The Global Dehumidifier Market Anticipated to Grow at a CAGR of 6.8% from 2023 to 2030 ~

Nature's Miracle Holdings Inc. (NASDAQ: NMHI) ("Nature's Miracle" or the "Company"), a leader in vertical farming technology and infrastructure, today announced the launch of the Company's efinity brand name dehumidifier. With today's launch, Nature's Miracle is one of only three companies in the U.S. to service the indoor growing market. This dehumidifier product is a complementary product under the umbrella of its efinity LED lighting business for a cross sell opportunity to the brand's solid customer base.

The initial roll out of the efinity dehumidifier includes two models: the 345-pint-per-day SJD-07EG model and the 506-pint-per-day SJD-10EG model while the company is working on the even more powerful 876-pint-per-day model. Efinity dehumidifiers adopt R-32 AIM (The American Innovation and Manufacturing Act) standard which reduces the usage of hydrofluorocarbons (HFCs) and has less global warming potential (GWP).

The efinity dehumidifier will be available for shipping starting in Q3 of 2024 and we expect the annual revenue from the sales of this product to exceed $20 million in the $500 million industrial dehumidifier market in the U.S.

Management Comments

James Li, Chairman and Chief Executive Officer of Nature's Miracle, commented, "We have achieved $2.2 million of revenue and 14% gross margin during Q1 of 2024, primarily from the sales of grow light. The addition of the efinity dehumidifier will enhance both our topline growth and margin expansion. In addition, Nature's Miracle can offer a full range of indoor growing products including the industry-leading efinity grow light, MiracleTainer container farm system, efinity dehumidifier and growing medium including Dutch Coco, Dutch Wool. With indoor farming continuing its upward trajectory, Nature's Miracle will continue to enhance its position as a one-stop shopping provider of technology, product and solution for the industry."

The Product Offering

Include 345 pint model and 506 pint model
Meet AIM R-32 standards
Smart dehumidifier with powerful dehumidifying capacity
LCD humidity display, be able to set humidity 10-95%, with a timer function
Specific to memory, automatic restart after power restored to the pre-set power state
Self-defrost function
With compressor protection to ensure safety, with the fault display function, easy to operate
Special design for greenhouse to reduce humidity
About Nature's Miracle Holdings Inc.

Nature's Miracle (www.Nature-Miracle.com) is a growing agriculture technology company providing equipment and services to growers in the Controlled Environment Agriculture ("CEA") industry which also include vertical farming in North America. Nature's Miracle offers hardware to design, build and operate various indoor growing settings including greenhouse and indoor-growing spaces. Nature's Miracle, through its two wholly-owned subsidiaries (Visiontech Group, Inc. and Hydroman, Inc.), provides grow lights as well as other hydroponic products to hundreds of indoor growers in North America. Nature's Miracle has also developed a robust pipeline to build commercial-scale greenhouse in the U.S. and Canada to meet the growing needs of fresh and local vegetable products. Nature's Miracle has established its first manufacturing footprint in North America with its grow-light assembly plant in Manitoba, Canada and is expected to set up additional manufacturing/assembly facilities in North America.