Safe & Green Holdings Corp. Provides Recap on Recent Activities Anticipated to Provide Millions in Non-dilutive Capital

Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures for residential, commercial, and point-of-care medicine, today provided a summary of recent activities anticipated to provide millions of dollars in non-dilutive capital.

These strategic initiatives include:

• Entered into a Letter of Intent (“LOI”) to sell the Lago Vista site for $12.5 million, which was initially acquired for $3.5 million
• The Company closed the first tranche of its bridge loan with a European-based entity for gross proceeds of approximately $1.45 million; funding commitment provides for up to $2 million in gross proceeds
• SG Echo, LLC secured a $1.75 million commercial mortgage on the Waldron facility and a $1.5 million financing agreement which funded the purchase of the facility as well as provided it with additional working capital

“We are making tremendous progress executing on our growth strategy, all while carefully managing expenses,” said Paul Galvin, Chairman and CEO of Safe & Green Holdings. “Through a series of strategic initiatives, we expect to receive millions of dollars in non-dilutive funding, which we believe will not only help accelerate our growth, but is also a testament to the strength of our balance sheet, as well as our ability to leverage our growing asset base to maximize returns for our shareholders, now and into the future.”

About Safe & Green Holdings Corp.

Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. Safe and Green Development Corporation is a leading real estate development company. Formed in 2021, the company focuses on the development of sites using purpose built, prefabricated modules built from both wood & steel, sourced from one of Safe & Green Holdings factories and operated by SG Echo. For more information, visit www.safeandgreenholdings.com.

Safe Harbor Statement

Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the Company’s plans to sell its Lago Vista site for $12.5 million, the sale illustrating the Company’s ability to maximize and monetize assets and significantly enhance the Company’s balance sheet, the infusion of non-dilutive capital allowing the Company to capitalize on new and exciting projects underway to help accelerate growth and drive profitability, the sale being an excellent outcome for both the Company and its shareholders and providing further updates on the sale process as they become available. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to sell its Lago Vista site for $12.5 million as planned, the Company’s ability to capitalize on new projects underway to accelerate growth and drive profitability, the Company’s ability to spin out Safe and Green Development Corporation as planned, the Company’s ability to expand within its various verticals, the Company’s ability to position itself for future profitability, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

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