Press Release

Henderson, Nevada — Tuesday, March 17th, 2026 — EVIO, Inc. ("EVIO" or the "Company") today provided an update regarding its ongoing efforts to rehabilitate the Company's balance sheet, improve its capital structure, and position EVIO to operate as a more credible and meaningful public-market platform.

Management recognizes that shareholders care deeply about the Company's share structure, outstanding debt, and the path required to restore EVIO to stronger standing. The Company believes it is important to communicate clearly as this process moves forward and to remain transparent about the steps necessary to rebuild the platform responsibly.

EVIO's current capital structure is the result of legacy obligations incurred under prior management in an effort to keep the Company operating. The current management team did not create these conditions, but it has taken responsibility for navigating the Company through them and pursuing what it believes is the only viable path toward rehabilitation.

That path requires addressing the Company's debt burden directly. Management believes a meaningful portion of legacy debt will need to be converted into equity as part of the restructuring process. The Company recognizes that this will result in dilution, but believes there is no realistic alternative if EVIO is to restore its balance sheet and move back toward good standing as an active public company.

In addition, management believes that a reverse stock split will ultimately be necessary as part of the broader rehabilitation process. The purpose of that step would be to improve the Company's capital structure and share price profile after the required balance sheet work has been completed. While these measures are not easy, management believes they are necessary to create a more functional public-company vehicle capable of supporting larger strategic initiatives over time.

The Company wants shareholders to know that these matters are being taken seriously. Management is actively working through the debt structure, including legacy note obligations, with the objective of moving EVIO toward a cleaner and more sustainable foundation. The process is not immediate, and it requires discipline, patience, and execution, but management believes it is the correct course.

This leadership team has previously participated in the rehabilitation of distressed public-company situations, including HLLK and VGLS, and believes the same focused approach can be applied here. EVIO's goal is not simply to manage legacy issues, but to emerge from them with a structure capable of supporting a more ambitious strategic direction.

The Company remains committed to keeping shareholders informed as material progress is made. EVIO appreciates the continued trust and support of its shareholders as management works through this important transition and takes the steps necessary to rebuild the Company for the future.