urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), operating through Flash Sports & Media, Inc., today noted public announcements regarding the finalization of the franchise lineup for Lanka Premier League ("LPL") Season 6, including confirmation of new ownership groups for three of the league's franchises. The sixth edition is scheduled for July and August 2026, owned by Sri Lanka Cricket ("SLC") and conducted in partnership with Innovative Production Group FZ, LLC ("IPG"). The Company participates through its subsidiary IPG under existing commercial arrangements and does not own, operate, or control the league or any franchise.

Season 6 — Franchise Lineup

Public announcements have confirmed five franchises for LPL Season 6, including new ownership groups for the Kandy, Jaffna, and Colombo franchises:

New Franchise Ownership

Kandy franchise. The Kandy franchise is expected to be owned by Sandhya Ajjarapu and Kavya Ajjarapu, U.S.-based investors, subject to league approval and customary conditions. Sandhya Ajjarapu is a U.S.-based investor and entrepreneur with interests across healthcare, biotechnology, pharmaceuticals, information technology, media, and emerging industries. Based in Florida, she holds equity positions in several publicly traded companies listed on U.S. exchanges. Over the past decade, she has built her investment portfolio alongside her husband, Suren Ajjarapu, an experienced entrepreneur and corporate executive with a strong track record in leading public and private companies. She has also served in leadership roles within privately held companies and remains actively committed to philanthropy, supporting charitable initiatives in both the United States and India, particularly in the areas of community health and education. Kavya Ajjarapu is a U.S.-based investor who joins as co-owner of the Kandy franchise. Together, the Ajjarapus bring long-term capital, governance experience from public-company shareholding, and a commitment to building sport as a vehicle for community impact. The ownership group currently owns an existing basketball franchise and is now acquiring the Kandy franchise in the Lanka Premier League.

Jaffna Kings. As publicly reported, the SC Jaffna Kings franchise will come under the ownership of Sports Commune FZC, led by Manjot Kalra and Mayank Goel, ahead of LPL Season 6. The franchise will participate within the league ecosystem operated via IPG platform under urban-gro, Inc. and Flash Sports & Media, Inc.

Colombo Kaps. As publicly reported, the Colombo Kaps franchise is now under the leadership of Witness Sports Alliance LLC, led by Saranyan Palaniswamy and K.C. Shyam Kangayan, ahead of LPL Season 6. The franchise will participate within the league ecosystem operated via the Innovative Production Group FZ, LLC platform under urban-gro, Inc. and Flash Sports & Media, Inc.

Dambulla Sixers. The Dambulla Sixers franchise is owned by Desilva Holdings, led by Priyanga De Silva. Priyanga De Silva is a U.S.-based business leader, investor, and Director at Desilva Holdings, where he plays an active role in guiding the group's strategic direction and overseeing its broader business interests. With a strong foundation in business leadership and investment, he has been involved in supporting and developing ventures across multiple sectors, with a focus on sustainable growth, operational discipline, and long-term value creation. Since 2024, he has served as an owner of the Dambulla Sixers in the Lanka Premier League, contributing to the franchise's strategic development, commercial growth, and long-term sporting vision, with a strong emphasis on professionalism and sustainability.

Galle Gallants. The Galle Gallants franchise is owned by Gallant Sports and Media LLC, led by Kiran Mantripragada and Uday Kiran Namballa. Kiran Mantripragada serves as lead Owner and Principal, driving the overall strategy with a focus on cricketing operations, commercial growth, and building media partnerships. Uday Kiran Namballa partners as co-owner, supporting the venture's strategic and operational direction. Together, they established Gallant Sports and Media LLC as a dedicated entity for sports team ownership and related media activities, with a commitment to long-term value creation through disciplined operations, talent development, and sustainable commercial models.

Strategic Context for UGRO

Following its combination with Flash Sports & Media, Inc. and the integration of IPG, the Company participates in the LPL as a sports, media, and experiential platform, with exposure to the tournament's media, sponsorship, and on-ground activations through its contractual arrangements with the league. LPL Season 6 represents the first full season under the Company's current operating structure following the IPG integration. The identity of any franchise owner is determined by the league and the relevant franchise, and not by the Company. Actual revenues will depend on the specific terms of the Company's contractual arrangements and on overall tournament outcomes, and may differ materially from any industry-level references included in this release.

Industry Context (Third-Party Data)

For general reference only, third-party reports describe T20 cricket as a high-engagement global format with an estimated fan base of approximately 2.5 billion across South Asia, Southeast Asia, the Caribbean, the United Kingdom, and other markets. IPL media rights, for a mature comparable league, have been reported at over USD 6 billion for a five-year cycle. Industry estimates have referenced local economic impact for prior LPL seasons in the USD 25–30 million range. These figures relate to the broader industry or other leagues and are not a projection of the Company's financial results, revenues, or economic impact from LPL Season 6, and should not be relied on as such.