Corporate Update

• Date: May 22, 2026
• Event Type: Debt Restructuring (Accounts Payable)
• Summary: Clean Seed Capital Group Ltd. restructured $420,371 in historical legal services accounts payable.
• Settlement Terms:
  • Immediate payment of $15,000 cash.
  • Creditor write-off of $230,371 (reducing total liability).
  • Deferred balance of $175,000 due June 30, 2027.
• Acceleration Triggers: The deferred balance accelerates based on future financing proceeds ($87,500 at $3M raised, up to full balance at $6M raised).
• Securities Issued: None issued in connection with this settlement (no dilution).
• Context: This follows a series of debt settlements and financings throughout late 2025 and early 2026, including the October 2025 private placement ($1.25M) and shares-for-debt transactions.

• Financial Impact: The write-off of $230,371 improves the balance sheet by removing non-cash liabilities without immediate cash outflow beyond the $15k settlement payment.
• Cash Flow Relief: Deferring $175,000 to mid-2027 provides significant short-term liquidity relief compared to immediate maturity.
• Dilution Risk: No securities were issued for this specific restructuring, avoiding shareholder dilution at this time.
• Future Pressure: The acceleration clauses tied to financing milestones ($3M-$6M gross proceeds) create a clear incentive and pressure to raise capital within the next 12 months to avoid accelerated repayment.
• Materiality Determination: Given the company's recent financing scale (e.g., $1.25M private placement in Oct 2025), this $420k restructuring is incremental rather than transformative. It stabilizes operations but does not fundamentally alter the growth trajectory or valuation multiple on its own.
• Transcript Mismatch Warning: The provided transcript context references "CSX Railroad" (Intermodal, Howard Street Tunnel, Rail volume) which contradicts Clean Seed Capital's business model (Agricultural Technology). This data inconsistency must be flagged as a risk; the transcript cannot be used to validate Clean Seed's operational performance.

• Company: Clean Seed Capital Group Ltd. (TSX-V: CSX).
• Flagship Project: SMART Seeder Mini-MAX™ platform.
• Technology: Precision agriculture equipment featuring electronic singulation, variable-rate delivery, and multi-product input handling.
• Manufacturing Partner: Mahindra & Mahindra Limited (Full-scale production commenced Oct 2025 at Pithampur facility).
• Strategic Focus: Capital-light global expansion model leveraging dealer networks (e.g., Mexico's MAJAS) and licensing agreements (SASA Certified MAX).
• Intellectual Property: Holds U.S. Patent No. 12,408,581 for "Bulk Transfer Delivery System" extending protection to June 30, 2042.