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January 2023

1. Technical achievements 2. Success in digital marketing 3. New service provider 4. Further expansion with SIG 5. Company presentation at ZHAW 6. Increase in the share price

1. Technical achievements

A great start to the year for GreenState AG. Our HVAC system testing started on 01/03/2023 and was completed on 01/05/2023 with 100% success. For 48 hours we were able to cool the first floor and heat the second floor.
This is an amazing accomplishment for the indoor farming community as a whole, because in the same farm, two separate units could grow different agricultural products and simulate different temperatures.
Furthermore, we are very proud of the fact that we have achieved temperature differences of -25 and +50 in the growing rooms. The systems are so powerful that the air in the growing rooms can be exchanged five times within one hour without changing the temperature in the growing unit.
Finally, all intake air is treated by a special recuperator unit that supplies only filtered and cooled/heated air.
We will do our best to make an explainer video and describe how the system looks and works.

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2. Success in digital marketing

The management of GreenState AG has always been optimistic and believed in the success of the company, but recent events have exceeded our expectations.
GreenState AG has managed to gain more than 1,000 followers on social networks such as LinkedIn and Instagram, and reached 1,500 inquiries via email in December alone.
Our business development and investor relations team is stretched beyond capacity, sometimes working with management until 9:00pm.
We are pleased to inform you that even during the holidays we exceeded capacity and managed to respond to every request in December 2022.
To meet the demand, we decided to hire three additional business development professionals and run the most innovative digital marketing campaign in Switzerland.

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3. New service provider

In mid-December last year, we signed a service provision contract with Swisscom and now the entire Internet infrastructure and data security runs on Swisscom solutions. Swisscom has provided a fixed, secure IP solution for Internet connectivity in Neuhausen and the possibility of a secure and strong connection with AWS systems.
In addition, we are in contact with Swisscom's IoT team for a possible service agreement regarding "gateway" facilities and closed intranet solutions.

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4. Further expansion with SIG

Last week, our executives had a meeting with SIG Area representatives to discuss operational safety, electrical installations, and further expansion of operational space. As the new 30-50 modules are installed this year, GreenState AG needs at least one more operating area to develop new solutions.
There is also an opportunity to buy land in Neuhausen and build a factory and vertical farm on GreenState land, which would add amazing value to GreenState.
The purchase of land and the construction of a company's own operating and production facility are highly dependent on operating and financial cash flow.

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5. Company presentation at ZHAW

Our founder & CEO was invited by ZHAW to give a presentation about GreenState AG, vertical farming and digitalization solutions in the agribusiness industry. Master and Bachelor students of ZHAW had the opportunity to listen and ask questions relevant for their further studies and particle research.
The students' presentations led to intensive discussions between GreenState AG and ZHAW as a university with regard to a partnership for the development of new technological solutions, internships for students and practical studies for the development of new indoor agricultural products, such as avocado, and the implementation of hydrogen technology with regard to sustainable energy solutions.
It is hoped that GreenState AG and ZHAW can form a partnership and start developing new technical solutions.

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6. Increase in the share price

Now that all tasks for 2022 have been completed and the company has opened a new chapter of technological and business solutions, we were able to achieve a further price increase per share. Furthermore, we are slowly reaching the full number of 550,000 shares originally offered to external investors. The price per share of CHF 10 is only available until Jan. 31, 2023, and from Feb. 1, 2023, the price per share will be CHF 12.5.
At this point, GreenState AG has been approached by several institutional investors from the industry and it could be that this is the last round offered to private investors until the IPO. Another capital increase is planned for 2023, but this one will be aimed at institutional investors and eight-figure amounts, raising the company's valuation to nine figures. As more than 3,000 people have ordered investor documents in the last six weeks, we ask you to send us subscription forms as soon as possible, but no later than January 31, 2023.

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