UPEXI, INC.

UPEXI, INC. operates in the cryptocurrency industry and manages cash assets through a cryptocurrency portfolio, primarily focused on Solana tokens. The company generates yield from its treasury, primarily through staking these tokens. UPEXI also continues to be brand owners, selling products wholesale and direct to consumers. Distribution and fulfillment of these products are handled by a third-party specializing in these services. Early in 2025, UPEXI updated its cash management and treasury strategy to include holding digital currency assets directly on its balance sheet. This represented a shift from its previous approach of holding excess cash primarily in FDIC-insured interest-bearing accounts. This change was implemented to obtain the highest yield on excess cash and benefit from potential price appreciation. Under this new approach, the company's treasury policy focuses primarily on Solana ("SOL"). This strategy applies a public-market treasury model to Solana, an asset considered earlier in its lifecycle than Bitcoin regarding development, usage, and institutional adoption. Management will allocate a significant portion of the balance sheet to holding Solana in the company's digital asset treasury. UPEXI stakes the vast majority of the Solana in its treasury to earn a staking yield. Currently, the company is staking approximately 95% of its SOL treasury and intends to maintain a similar or higher percentage going forward. UPEXI, Inc. was originally formed as a Nevada corporation in September of 2018 and conducts operations through its subsidiaries.