CEA Industries Inc. (NASDAQ: BNC) ("BNC" or the "Company") today provided an update on the status of the efforts by BNC's Board of Directors (the "Board") to renegotiate the Company's Asset Management Agreement (the "AMA") with 10X Capital Asset Management LLC ("10X").

On February 18, following a number of conversations with 10X on the subject, the Company outlined specific proposed terms to 10X for substantive amendments to the AMA, which were also included in a proposed amended version of the AMA that was delivered on March 8 (the "Market Proposal"). The AMA was originally executed in August 2025, long before a majority of the current directors joined the Board.