David Namdar will transition from his role as Chief Executive Officer of BNC, leaving the Company in accordance with the Board's succession planning process no later than August 31, 2026. Until his departure, Mr. Namdar will continue in his role to help facilitate a smooth leadership transition. The Board is in the process of engaging a leading executive recruiting firm to assist it in identifying and recruiting a new CEO.

Mr. Namdar said, "Serving as CEO of BNC has been one of the great privileges of my career. I remain a committed long-term stockholder and believe deeply in the value of what this Company holds and where it is headed. I am proud of what this team has built — institutional grade custody, a clean balance sheet, and a governance foundation that will serve the Company for years to come. My role may be changing, but my dedication to BNC's success and to the interests of our shareholders remains constant."

"David has played an important role in developing and implementing BNC's digital asset treasury strategy," said Carly E. Howard, lead independent director. "On behalf of the Board, I want to thank him for his cooperation and dedication to the Company, as well as his contributions during a pivotal period."

"The Board is committed to ensuring a smooth executive transition and will remain focused on the best interests of all shareholders," Ms. Howard added. "With the recent addition of a world-class Chief Financial Officer, the Company is well positioned to operate seamlessly through this period and further augment its corporate leadership team."

Business Outlook

Looking ahead, CEA Industries remains committed to the disciplined execution of its BNB digital asset treasury strategy, which is designed to complement and strengthen its operating businesses. The Company will continue to strategically deploy significant capital acquiring additional BNB, deepening its position as the world's largest corporate BNB treasury, while continuing to make opportunistic share repurchases.