Upexi (UPXI) Provides Update on 10Q Filing

Upexi, Inc. (NASDAQ: UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer ("DTC") brand owner and innovator in aggregation, today is providing shareholders with a update on filing its financial statements for the three and nine months ended March 31, 2024.

On June 17, 2024, the Company received a notice from Nasdaq Listing Qualifications that since the Company has not yet filed its Form 10-Q for the period ended March 31, 2024 (the "Filing"), it no longer complies with our Listing Rules (the "Rules") for continued listing. Under the Rules the Company now has 60 calendar days to submit a plan to regain compliance and if we accept your plan, we can grant an exception of up to 180 calendar days from the Filing's due date, or until December 11, 2024, to regain compliance.

Upexi management has discussed this with the Nasdaq and expects to file the form 10-Q for the period ended March 31, 2024 prior to the end of June 30, 2024 and once this is filed, a plan will not be necessary to regain compliance.

The Nasdaq Notice Letter has no immediate effect on the listing or trading of the Company's common stock.

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