• Focuses on Preparing for Previously Announced Uplist
• Significant Long-Term Opportunities in Global Energy Transition
• Company Focuses on Commercial Energy Services, Solar Installation and Energy Storage Solutions for Residential and Small Commercial Customers

PHOENIX, April 20, 2023 /PRNewswire/ -- SinglePoint Inc. (OTCQB: SING or "the Company") announces strategic transactions to simplify and focus operations to increase revenue and achieve subsidiary level cash flow. The strategy will promote building upon the recently reported FY2022 increase in revenue to $21.8 Million versus $808,000 in FY2021. The Company will be selective, focusing on accretive opportunities to further expand its Solar Renewable Energy, Energy Storage for residential and small commercial customers and its Commercial Energy Services as it streamlines and consolidates energy- centric business units to prepare for operations after uplisting.

Residential Rooftop Solar will continue to benefit from the passage of the landmark US Inflation Reduction Act of 2022 (IRA) which provides $369 Billion in spending for climate and energy measures. The residential solar market size in the US will grow by $6.67 Billion between 2021 and 2026. Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association, has dubbed the next 10 years as the "Solar + decade," as solar and energy storage buildout is expected to continue to build momentum over the next 10+ years. Solar+ Battery Storage market in the US is set for multi-year growth due to the provisions in the IRA.

"The April 2022 acquisition of Boston Solar was a key fundamental piece of the SinglePoint strategy focused on rolling up high quality residential and small commercial solar installation companies within the fragmented solar industry. We have a growing pipeline of acquisitions that are aligned and meet our long-term strategic criteria," said Wil Ralston, CEO of SinglePoint "We are rebalancing operations throughout the company and are simplifying our capital stack providing greater transparency to our market value in order to take advantage of this unprecedented opportunity and to best position the company for an uplist to a national exchange."

Recent Highlights and Announcements

• SinglePoint Inc. FY 2022 Annual Recorded Revenue increased to $21.8 Million compared to $0.808 Million (Revenue increase of approximately $20.9 million)
• Board of Director and Shareholder approval of the proposed spinoff to SinglePoint shareholders of ShieldSaver, as a new separate public company. SinglePoint originally acquired ShieldSaver in 2018 as a disruptive auto repair and service technology platform that was positioned to leverage blockchain initiatives for data collection. SinglePoint has agreed to acquire the remaining minority interest in ShieldSaver and will announce an experienced emerging public company executive to facilitate the transition and transaction.
• Shareholder approval and Board of Director approval of the proposed sale, joint venture, Business Combination or Tax-Free Spin-off to Shareholders of non-core entities EnergyWyze and DIGS.
• Shareholder and Board of Director approval to explore options to sell or pursue a Tax-Free Spin off to Shareholders of BOX Pure Air/BPA Solutions, providers of commercial and industrial grade certified-HEPA portable air purification units manufactured in the USA within the next twelve months.
• Clean indoor air is an essential right and a public health concern. The federal government has made $121Billion available for schools to address unhealthy indoor air in schools and an additional $350 Billion through the Clean Air in Buildings Challenge announced in 2022. Addressing Indoor Air Quality (IAQ) is an ongoing health concerns that must be addressed and an additional funding pitch took place on National Healthy Schools Day (NHSD) on April 4, when environmental and public health groups called on President Biden to include an additional $100 million in his 2024 budget requests for the Environmental Protection Agency's (EPA) Office of Air and Radiation/Indoor Environments Division.
• SinglePoint Board of Directors approved conversion into Common Stock of Preferred A shareholders to simplify the capital table in the ongoing preparation for a previously announced uplisting. Simplifying the capital structure by consolidation and conversion into common stock highlights the actual market capitalization, while eliminating future common stock dilution, preferred distribution rights, and enhanced voting. All holders of the Preferred A shares have unanimously agreed to reduce the conversion ratio by 20%.
• Barney Monte will assume the role of Chief Financial Officer of SinglePoint leveraging his historical experience within investment banking. Barney has been providing executive management and capital markets advisory services to small and mid-market private and publicly listed companies. He has over 20 years of M&A and capital markets experience including from company inception to initial public offerings; investment grade and leveraged finance; and domestic and cross border mergers and acquisition activity.
• FY2022 Boston Solar (Acquired April 2022) Annual Proforma Revenue of $24.8 Million versus $17.6 Million in FY2022 representing YoY Annual Growth of approximately 40%. Boston Solar contributed approximately $19.1 Million in FY2022 Recorded Revenue.
• The landmark Inflation Reduction Act (IRA) has changed the trajectory of the U.S. energy market, sparking a projected five-fold increase in the size of America's $33 Billion solar and storage industry over the next decade increasing the near-term opportunity for the SinglePoint Strategic Solar EPC and Energy Storage Acquisition Strategy.

The multiple corporate actions are part of a planned fundamental strategy of focusing on building its renewable energy, energy storage and to prepare for additional opportunities in EV charging for our residential and small commercial customers. These corporate actions will allow SinglePoint to reduce the size of its non-core subsidiary portfolio while providing the opportunity to unlock additional value through stock dividends via separation and segmentation for our existing 30,000+ SinglePoint shareholders and the shareholders of record on the respective spin off dates. SinglePoint expects the first spin off to its shareholders of ShieldSaver prior to the end of FY2023 Q3. That spin-off will involve the formation of a new standalone, experienced public company management transition team at ShieldSaver that will be focused on expanding previous industry partnerships and targeting a seamless transition with the goal of ensuring trading on the effective date of the spin off. SinglePoint expects that its ownership interests in Shield Saver will be distributed tax-free on a pro rata basis to all shareholders.

In addition to spinning off ShieldSaver, SinglePoint has received Board of Director approval and shareholder approval to pursue similar transactions for its other non-core business assets, EnergyWyze and Discount Indoor Garden Supply(DIGS). These transactions are targeted to be completed prior to the end of the calendar year. Creating additional value through a distributed spinoff will allow the Company and management to focus on and put all effort towards the opportunities that show the highest rate of return. These spin offs will also give value back to shareholders through the equity distributed in the new public companies.

There is an emerging long-term opportunity to address healthy clean air and safety improvements in our nation's schools and workplace environments. Billions of dollars of Government Funding have been appropriated and allocated to address the need for Indoor Air Quality (IAQ) and additional safety hardening in the places we attend school or go to work. BOX Pure Air/BPA solutions is uniquely positioned to take advantage of these opportunities and would be a significant beneficiary of being a stand-alone private or public company allowing its true market value to be unlocked and realized. Operating as a stand-alone entity will provide further flexibility to pursue value maximization, and allow SinglePoint to focus on increasing our size, scale and footprint in the Renewable Energy, Energy Storage and Energy Services markets. We expect continued revenue growth and to achieve positive operational cash flow at BOX Pure Air/BPA solutions and within our energy-focused subsidiaries in FY2023.

In addition, and under prescriptive advice from our outside professional service providers, in order to best prepare for a successful up listing, the SinglePoint Board of Directors and the current group of Series A Convertible Preferred shareholders have agreed to simplify its corporate capital table structure by converting the issued and outstanding class of Preferred A, at a reduced conversion rate, into Common shares. This conversion will, among other things, eliminate the preferred distribution, eliminate a significant portion of the potentially dilutive securities and eliminate the preferred voting held by the Series A Convertible Preferred Shareholders. It bears noting that the Company's market cap will increase and will reflect a more transparent market value because of the recommended conversion of the Series A Convertible Preferred into Common.

In connection with the planned corporate actions preparing for the planned uplist, Barney Monte, who has been co-leading and conducting due diligence on our strategic M&A transactions, will assume the role of Chief Financial Officer. Mr. Monte has over 20 years of progressive capital markets experience that includes: structure and advisory from inception to initial public offerings; raising capital; merger and acquisition activity. In addition, we are also promoting Chad Miles from EVP Operations to our Chief Operating Officer at SinglePoint.

Wil Ralston, CEO of SinglePoint, noted, "Our senior management team comprised of Daniel Mello Guimaraes – EVP EPC Services, Chad Miles – EVP Operations, Corey Lambrecht – President and Jason Lally – EVP Revenue have delivered demonstrated results and formally adding Barney Monte as the Chief Financial Officer and Chad Miles as the Chief Operating Officer makes SinglePoint, its stakeholders and shareholders well positioned to continue to deliver results and to take advantage of the increasing pipeline of opportunities in the energy sector."

Ralston added, "Today's announcements are representative of yet another milestone in our long-term plan to focus SinglePoint on its strategic core businesses – energy services, energy storage and energy creation via renewable energy. Over the last few years, prior to my taking on the CEO role, SinglePoint has accumulated several emerging potential businesses that no longer align with our energy-focused strategy for the next decade. Although we have made substantial and successful progress in the past few years, it is imperative we continue to focus our resources on the accretive opportunities within the energy and energy storage sector. As we have made plain to our various stakeholders, our goal is to recognize value from the non-core assets in our portfolio while we continue to prioritize, build, and add to our energy centric businesses. By continuing to focus on this energy-centric strategy the Company has delivered record gross revenue for FY2022 of $21.8 Million while attracting interest from several companies that closely align with and will deliver continuing positive results for years to come."

Ralston continued, "Our recent efforts to monetize our legacy portfolio businesses have led to the initial spinoff of 1606 Corp. to our shareholders and today's announced intended transactions will create multiple opportunities for our shareholders on the record date of each spin off to be able to realize a benefit from having ownership in multiple stand-alone entities. I am truly thankful that the shareholders and the board of directors are in agreement with an energy-centric strategy and that these actions will create additional incremental ownership in the planned spinoffs, enabling the on-going SinglePoint team, once the entities are spun-off or sold, to continue to execute our strategy without legacy distractions.

Most importantly, we recently reported the FY2022 annual revenue increases. Confirming the early stage traction and we are in the midst of transforming from the niche nano cap OTC fully reporting company with minimal annual revenues to a company that has a growing revenue base in the renewable energy, energy storage and energy services sector that just posted year of year revenue gain of over $20.0M to $21.8 Million in FY2022 and is positioning itself for an eventual uplist to a listed exchange."

Ralston concluded, "I am incredibly proud of our entire team at SinglePoint and, while the current market climate certainly presents short-term challenges, we are extremely optimistic about SinglePoint's ability to continue to grow revenue, achieve positive cash flow at the operating subsidiary levels, while looking to increase our market share and footprint over the next decade. The long-term outlook in the markets we serve is incredibly bullish. Today's announcements will allow us to continue to focus on our core priorities. We believe in our energy-centric business, and we believe that spinning off or selling non-core, non-aligned assets to return value to SinglePoint shareholders will ultimately unlock the fundamental value of these business units. We look forward to presenting our shareholders with the opportunity to benefit from being direct shareholders of the intended spin-offs." 

Continuing Strategic Core Energy Assets - Solar EPC's, Energy Services, Energy Storage

• Boston Solar (EPC)
• Frontline (Energy Services)
• Planned Acquisitions - Additional EPC's, Energy Storage Solutions

Strategic Spin Off - K-12 and Commercial Indoor Air Quality, Safety and Security

• BOX Pure Air (Certified HEPA Indoor Air Purification (IAQ)) & BPA Solutions (Building Security, IAQ Improvement, Consulting)

Non-Core Spin Offs, Sale or other

• EnergyWyze (lead generation)
• ShieldSaver (Automotive Service Platform, Data, Blockchain)
• DIGS - Discount Indoor Garden Supply (agriculture supply, product manufacturing)

About SinglePoint Inc (OTCQB:SING)
SinglePoint Inc. is a renewable energy and sustainable lifestyle company that provides environmentally friendly energy efficiencies and healthy living solutions. SinglePoint is initially focused on building the largest network of renewable energy solutions and modernizing the traditional solar and energy storage model. The Company is also actively exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and healthier life. For more information, visit the Company's website (www.singlepoint.com) and connect on social media for the latest updates.

Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential plans and objectives of the Company, the use of proceeds, anticipated growth, and future expansion, are forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

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