Upexi provides update on restructuring to reduce debt

Upexi is providing shareholders with an update on its restructuring to reduce debt and increase working capital through the sale of assets. After the closing of several transactions since the nine month period ended, March 31, 2024, the Company has: $16.1 million eliminated in debt and accrued interest; $7.4 million in cash to strengthen the balance sheet; Approximately $1.5 million eliminated in excess operational costs, without affecting operations. Transaction Overview: On August 1, 2024, the Company completed the sale of E-core/Neti and Tytan Tiles, reducing debt by approximately $12 million and increasing cash by $2 million. In July, the Company completed the closing of two Las Vegas locations and transitioned the workforce to a single facility in Florida resulting in the reduction of workforce by approximately 30% and a reduction in annualized operational costs by over $1.5 million. On July 9, 2024, the Company completed the sale of its warehouse located in Clearwater, Florida, eliminating approximately $2.6 million in debt and providing approximately $1.4 million in cash for working capital. On June 13, 2024, the Company completed the sale of its wholly owned subsidiary for immediate cash of $4 million and additional payments up to $2 million in the next fifteen months.