Safe Harbor Financial Expands Executive Leadership Team with Appointments of Jeffrey Kay as SVP of Marketing and Dominic Marella as VP of Business Development

GOLDEN, Colo., April 30, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (Nasdaq: SHFS), a fintech leader providing financial services and credit facilities to the regulated cannabis industry, announced two strategic appointments to its leadership team: Jeffrey Kay as senior vice president of Marketing and the return of Dominic Marella as vice president of Business Development. Together, Kay and Marella will play key roles in expanding Safe Harbor’s national footprint, enhancing client services and elevating brand visibility—supporting the Company’s mission to deliver compliant, scalable and technology-driven financial solutions to cannabis-related businesses (CRBs). “Safe Harbor is entering a new phase of accelerated growth, innovation and market leadership,” said Terry Mendez, CEO of Safe Harbor Financial. “The appointments of Jeff and Dom represent a strategic investment in both our brand and business development engine. Jeff’s marketing acumen and Dominic’s deep relationships and experience across the cannabis sector give us an unmatched edge in serving the evolving needs of cannabis operators and financial institutions.” Jeffrey Kay, a seasoned marketing executive with over 30 years of experience, most recently served as chief marketing officer at AMMA Investments, a vertically integrated multi-state cannabis operator. He previously founded Brandfan, a marketing agency with a diverse client roster across cannabis, retail, technology and consumer goods. In his new role, Kay will lead integrated marketing strategy, brand development and go-to-market execution, driving demand generation, sales enablement and strategic partnerships. “I’m honored to join Safe Harbor at such a pivotal time,” said Jeff Kay, senior vice president of Marketing. “The opportunity to shape the strategic evolution of the brand and drive measurable results for our clients and partners is incredibly exciting.” Dominic Marella rejoins Safe Harbor following nearly two years of entrepreneurial and fintech leadership outside the organization. A veteran of the commodities and derivatives sector, Marella brings deep experience navigating highly regulated industries. He previously led the cannabis vertical at Paro, a digital-first accounting platform, where he supported cannabis entrepreneurs navigating Illinois’ adult-use dispensary licensing process. As vice president of business development at Abaca—a company acquired by Safe Harbor in 2022—Marella led national sales efforts and was instrumental in integrating cannabis financial solutions post-acquisition. Most recently, he ran CannaTech Ventures, an incubator helping launch innovative cannabis technology startups. “Returning to Safe Harbor feels like a homecoming,” added Dominic Marella, vice president of Business Development. “Our team has a powerful mission and a clear opportunity to help lead financial innovation in the cannabis sector. I’m excited to capitalize on our strong foundation—partnering with operators, legacy businesses and newcomers to the space to deliver scalable, tech-forward financial solutions.” Key initiatives under Kay’s leadership include a brand refresh, a comprehensive demand-generation strategy and a new partnership marketing program. Marella will focus on expanding Safe Harbor’s business development operations nationally, with an emphasis on strategic client acquisition, channel partnerships and tailored financial solutions that meet the unique needs of cannabis operators navigating complex regulatory frameworks. Both Kay and Marella join the Company with equity-based incentives, aligning their long-term interests with those of shareholders. About Safe Harbor Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions that provide traditional banking services to cannabis, hemp, CBD and ancillary operators, making communities safer, driving growth in local economies and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org. Cautionary Statement Regarding Forward-Looking StatementsCertain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; success or viability of new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be brought by or against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. Safe Harbor Investor Relations ContactMike Regan, head of Safe Harbor Investor Relationsir@SHFinancial.org Safe Harbor Media Relations ContactEllen Mellodysafeharbor@kcsa.com570-209-2947

Safe Harbor Financial Expands Executive Leadership Team with Appointments of Jeffrey Kay as SVP of Marketing and Dominic Marella as VP of Business Development

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