– Call Center Generates Revenue of $1,537,000 –

SCOTTSDALE, AZ, April 28, 2020 — AMMO, Inc. (OTCQB: POWW) (“AMMO” or the “Company”), a premier American ammunition and munition components manufacturer and technology leader, announces the creation of a sales call center located at its Scottsdale Headquarters.

The Call Center began operations on April 1st and is staffed with 11 full time employees who report to Matt Nicholson, Vice President of Sales and Marketing. Matt Nicholson joined AMMO, Inc. on February 28, 2020. Prior to joining AMMO, Inc. Mr. Nicholson was Vice President of Sales at Davidson’s, one of the largest and most progressive firearms wholesaler\distributor in America from 2009 to 2017 where he grew revenue over 400% and doubled the customer base.

The Call Center is staffed Monday through Friday from 6am to 6pm PT. The Call Center Account Executive’s sole responsibility is to call and service the 67,000-gun shops that have active Federal Firearms Licenses. “The team we have put in place here at AMMO Inc. has been doing a fantastic job introducing our brand to the dealer population. I’m confident after our first 6 months of contacting ammo buyers across the country we will add over 1000 new customers to the Ammo Inc family” said Matt Nicholson.

The productivity of our Account Executives has exceeded our expectations. Through April 24th, we have on-boarded 192 new customers, generating revenue of $85.1k on average per day, and have realized an average order size of $5.3K. The Call Center has been educating our new and perspective customers on the AMMO’s Product lines with a focus on STREAK visual ammunition. The STREAK video countertop display has been in high demand and is now on backorder through May. Customer orders have focused on 9MM, 7.62x51MM, 380 and 45 Caliber ammunition. Matt further states, “Most ammo buyers we are talking to are pleasantly surprised by the margin we’ve built into the line and once they find out the free LCD countertop display and free shipping on qualifying orders, they are quick to pull the trigger.”

Overall, the Call Center has generated $1,537,000 in revenue since inception, shipped approximately

$279,000 in product and has a backlog of $1.3M which it expects to ship in the next six to eight weeks. We expect to exit April with approximately $1.84M in revenue generated by our 11 Account Executives or $ 168K per person. The Call Center has been accretive to our operations since day one. “In my personal history of selling to gun and ammo retailers across the country I feel like I know what they want. Strong margins, fast shipments, accurate order placing and a company they can TRUST. We plan on providing all of those things and more to every customer of AMMO Inc. well into the future,” concludes Mr. Nicholson.

Fred Wagenhals, AMMO ‘s CEO states, “It’s been my goal to establish a sales call center, but I understood that to be successful in this endeavor, I had to be patient and extremely selective in our hiring of the individual to create the team and rollout service. We were fortunate to hire Matt Nicholson with his very

successful accomplishments in this space.”

About AMMO, Inc.

AMMO was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. The Company designs and manufactures products for a variety of markets, including law enforcement, military, hunting, sport shooting and self-defense. AMMO promotes branded munitions, including its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, O.W.L. Technologies®, and Night OPS (One Precise Shot) – a lead-free frangible tactical line of munitions for self-defense. The Company’s corporate offices are headquartered in Scottsdale, Arizona. Manufacturing operations are based in both northern Arizona and Manitowoc, Wisconsin. For more information please visit: www.ammoinc.com.

Forward Looking Statements

This document contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, goals and objectives of management for future operations; any statements concerning proposed new products and services or developments thereof; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Reports filed on Form 8-K.

In our filings with the Securities and Exchange Commission, references to “AMMO, Inc.”, “AMMO”, “the Company”, “we,” “us,” “our” and similar terms refer to AMMO, Inc. and its wholly owned operating subsidiaries The Enlight Group (d/b/a Jagemann Munition Components), SNI, LLC and Ammo Technologies, Inc.

Investor Contact:

Cody Slach

Gateway Investor Relations Phone: (949) 574-3860