• On December 3, 2024, China banned the export of gallium, germanium, and antimony to the United States – vital minerals utilized in the production of semiconductors, solar panels, and electric car batteries
• The Company expects to generate significant revenue in FY 2025 through the efficient extraction of these rare-earth minerals from vehicles, appliances, equipment, and heavy machinery
• Greenwave believes its proprietary rare-earth metal recovery initiative is a "catalytic converter-level" opportunity, with breakthrough technologies unlocking the profitable recovery of rare and high-value metals historically overlooked by the recycling industry

CHESAPEAKE, Va., Dec. 18, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), a leading metal recycler in Virginia, North Carolina, and Ohio, announced today it is accelerating the recovery of rare-earth metals from appliances, equipment, heavy machinery, and vehicles – capitalizing on surging global demand and escalating geopolitical tensions.

Greenwave views its proprietary rare-earth metal recovery initiative as a "catalytic converter-level" opportunity, with breakthrough technologies unlocking the profitable recovery of rare and high-value metals historically overlooked by the recycling industry.

Following China's December 2024 ban on exporting gallium, germanium, and antimony to the United States—key materials for semiconductors, solar panels, and EV batteries—Greenwave has fast-tracked its rare-earth recycling initiatives. Positioned near Naval Station Norfolk and the Port of Virginia, Greenwave' wholly-owned recycling facilities leverage access to high-quality scrap metal sourced from defense contractors, shipyards, and logistics hubs, securing a strategic advantage in the metals market.

Market-Leading Differentiation and Revenue Growth Potential
In addition to the growth projected in the Company's legacy business lines, Greenwave anticipates robust FY 2025 revenue growth related to the Company's efficient recycling of rare-earth minerals from end-of-life vehicles, appliances, heavy machinery, and industrial equipment. Greenwave's comprehensive recovery processes target high-demand materials:

• Antimony (for battery alloys and industrial applications): Recycled from lead-acid batteries, mine tailings, and flame-retardant plastics.
• Germanium (for optics, semiconductors, and medical devices): Extracted from infrared systems, lenses, and spent electronic components.
• Gallium (critical for semiconductors and renewable energy): Recovered from solar cells, LED manufacturing scrap, and electronic waste.

Strategic Investments Drive Market Leadership
With cutting-edge technology, robust supply channels, and scalable processes, Greenwave is positioned to become a market leader in rare-earth recovery. The Company's strategic investments in advanced recycling equipment and specialized workforce training aim to optimize recovery yields and to solidify Greenwave's competitive edge.

Investor Highlights

• Positioned for sustained growth amid critical material shortages.
• Strategically located to capitalize on military and industrial supply chains.
• Uniquely focused on high-value metals with growing global demand.

Greenwave's twenty years of operating experience in the scrap metal industry, combined with the Company's extensive footprint, grandfathered licenses, and strong relationships with key suppliers provide unique and compelling competitive advantages. The Company intends to utilize its unique position in the industry to become a leader in the recovery of rare earth metals.

About Greenwave – One of the Mid Atlantic's Leading Metal Recyclers

As an operator of 13 metal recycling facilities, Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) supplies leading steel mills and industrial conglomerates with ferrous and non-ferrous metal. With steel being one of the most recycled materials worldwide, Greenwave supplies the raw metal utilized in critical infrastructure projects and U.S. warships vital to American national security interests. Headquartered in Chesapeake, VA, the Company has 167 employees with metal recycling operations across Virginia, North Carolina, and Ohio.

For detailed financials and updates, visit www.GWAV.com.

Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its revenue growth, opening of additional locations, margin expansion and cashflow projections. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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