Existing relationship with top-performing MSO brings total aggregate credit originated and issued to $12.7 million

SHF Holdings, Inc., d/b/a/ Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a leader in facilitating banking, payments, and financial services to the regulated cannabis industry, announced today that the Company has increased its lending and deposit relationship with a tier one multi-state operator (“MSO”) by originating three new loans for affiliates of the MSO in the aggregate amount of $4,282,000. The loans were secured by retail assets in three additional limited-license markets in which the MSO operates.

“Our ongoing relationship with this top-performing multi-state operator demonstrates the steady credit origination and placement activity were are continuing to secure for companies operating in the legal cannabis industry,” Sundie Seefried, Chief Executive Officer at Safe Harbor Financial commented. “These new loans further diversify our collateral portfolio, and afford us the opportunity to open deposit accounts for the MSO’s operating entities in three new markets.”

The Company had previously announced in May that it had originated four commercial real estate-backed loans for subsidiaries of the tier-one MSO. The approximate amount for the loans was approximately $5.5 million aggregate and are secured by a first deed of trust on four retail dispensary locations in a key limited-license state. The Company also announced an expanded relationship with the tier-one MSO in June through the origination of an additional first lien-secured loan in the approximate amount of $2.9 million on a cultivation facility located in a major adult-use cannabis market. The current loans are in accordance with the same lending commitment as previous loans provided to the MSO, offering the same market-leading terms–including a fixed interest rate, five-year term and a 25-year amortization period–for permanent financing of the MSO’s critical assets.

About Safe Harbor

Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Currently managing approximately 1000 cannabis-related relationships, Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past eight years, Safe Harbor has facilitated more than $18 billion in deposit transactions for businesses with operations spanning over 40 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors; performance of the loans referenced in this release or otherwise; product and service offerings Safe Harbor may introduce in the future; Safe Harbor’s ability to maintain financial institution contractual relationships; the impact of recent volatility in the capital markets, which may adversely affect the price of the Company’s securities; the outcome of any legal proceedings that may be instituted against Safe Harbor; other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future; and the other risk factors discussed in Safe Harbor’s filings from time to time with the Securities and Exchange Commission. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject, are subject to risks and uncertainties. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of Safe Harbor), and other assumptions, that may cause the actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

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