Greenwave Opens 12th Metal Recycling Facility in Fairmont, NC and Announces Results of its Annual Meeting of Shareholders

Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of 12 metal recycling facilities in Virginia and North Carolina, is pleased to announce its 12th metal recycling facility has opened in Fairmont, NC. With one of the largest footprints of metal recycling facilities in the mid-Atlantic region, Greenwave supplies some of the world’s leading steel mills with a continuous supply of ferrous and non-ferrous metal.

Additionally, as disclosed in Greenwave’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on November 29, 2022, at Greenwave’s annual meeting of shareholders held on the same date, Greenwave’s shareholders overwhelmingly approved each of proposed corporate actions and elected the Company’s existing board of directors by a wide margin. More than 60% of Greenwave’s outstanding common shares as of the record date participated in the Company’s annual shareholder meeting either in person or via proxy.

“We are grateful to Greenwave’s shareholders for their unwavering support and we are committed to delivering on our aggressive growth strategy,” stated Danny Meeks, Chief Executive Officer of Greenwave. “For us to open the Fairmont facility, we ultimately had to replace the roof, remodel the office, and install new scales – but believe its contribution to our metal volumes and revenue will make it well worth the hard work and long delay. In the coming weeks, we expect to open our 13th location, bring our second automotive shredder online, and release our growth plans for 2023. With the strongest balance sheet in our corporate history, we believe Greenwave is optimally positioned to create shareholder value in the coming quarters.”

About Greenwave Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (“Empire”), is a leading operator of 12 metal recycling facilities in Virginia and North Carolina. At these facilities, Empire collects, classifies, and processes raw scrap metal (ferrous and nonferrous) for recycling. Steel is one of the world’s most recycled products with the ability to be re-melted and re-cast numerous times while offering significant economic and environmental benefits when compared with virgin materials. For more information, please visit https://www.greenwavetechnologysolutions.com/. Check us out on all social media platforms: https://twitter.com/greenwavegwav, https://www.instagram.com/greenwavegwav and https://www.youtube.com/@greenwavetechnologysolutions.

Forward-looking StatementsThis 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, 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 we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we 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 our control) and assumptions 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 our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake 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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