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1. Like a traditional golf course version of Topgolf, operating two full-service country clubs in the Orlando region.

2. Imagine a smaller, golf-focused version of Life Time Group Holdings, running two country clubs in Florida.

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• Golf Recreation, Retail, and Rentals: Provides access to golf courses and aquatic golf ranges, sells golf products in pro shops, and offers equipment and facilities for rental.
• Membership Services: Generates revenue through dues paid by members for access to the golf country clubs and their amenities.
• Food and Beverage Services: Offers dining and drink options within the clubhouses and other facilities on the property.
• Ancillary Services and Amenities: Delivers various other supplementary services and convenience features for guests and members across the multi-service recreational property.

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Major Customers of Aureus Greenway (AGH)

Aureus Greenway primarily serves individual customers. Its major customer categories are:

• Local Residents: Individuals residing in the greater Orlando region who frequently utilize the company's golf courses, clubhouses, pro shops, and other amenities, including those who may hold memberships.
• Tourists and Visitors: Individuals from outside the greater Orlando region who visit the golf country clubs for recreational golf, food and beverage services, and other amenities during their leisure travel.

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Matthew J. Saker, Interim Chief Executive Officer

Matthew J. Saker was appointed interim Chief Executive Officer of Aureus Greenway Holdings Inc. effective January 29, 2026. He has over 23 years of experience with CBRE's global advisory and transaction services group, where he serves as Senior Vice President. Earlier in his career, he held leadership roles at Peter Elliot & Co. and began his real estate practice at Grubb & Ellis. He also spent several years at Saker Associates, where he was involved in asset management and development across a diverse portfolio, including a private golf course. Mr. Saker holds a Master of Science in Real Estate Development from Columbia University and a Bachelor of Science in Finance from St. Joseph's University.

Wai Sing Sam Lui, Chief Financial Officer and Principal Accounting Officer

Sam Wai Sing Lui serves as the Chief Financial Officer and Principal Accounting Officer of Aureus Greenway Holdings Inc. He possesses over a decade of experience as a Chief Financial Officer and Financial Controller for multinational corporations and companies listed on the Stock Exchange of Hong Kong (HKEX) and Nasdaq. Mr. Lui is a member of HKICPA and ACCA and began his career in audit at firms such as Deloitte and BDO. His experience includes guiding companies through the IPO process, including Aureus Greenway Holdings Inc.'s listing on the Nasdaq Capital Market in February 2025, and serving as Financial Controller and Company Secretary of Cool Link (Holdings) Limited for its listing on the GEM Board of HKEX.

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Key Business Risks for Aureus Greenway (AGH)

1. Economic Sensitivity and Reliance on Discretionary Spending

   Aureus Greenway's business model, encompassing golf recreation, memberships, retail products, and food and beverage services, is highly dependent on consumers' discretionary income and leisure spending. Economic downturns, reduced consumer confidence, or shifts in consumer spending habits could lead to decreased demand for golf rounds, lower membership renewals, and reduced sales across its various offerings, directly impacting revenue and profitability.

2. Geographic Concentration and Weather Dependency

   Operating exclusively two golf country clubs in the greater Orlando region of Florida exposes Aureus Greenway to significant risks associated with this specific geographic area. The business is highly vulnerable to adverse weather conditions typical of Florida, including hurricanes, tropical storms, heavy rainfall, and prolonged periods of extreme heat, all of which can disrupt operations, deter customers, and potentially cause substantial damage to golf courses and facilities, leading to increased costs and revenue loss. Furthermore, any regional economic downturns or changes in tourism trends specific to Central Florida could disproportionately affect the company's performance.

3. Competition

   Aureus Greenway aims to "capture a greater share of the golf-players who live in, or visit the greater Orlando region," indicating an existing competitive landscape within its market. Intense competition from other golf courses, country clubs, or alternative leisure and recreational facilities in the Central Florida area could lead to pricing pressures, increased marketing expenses, or difficulty in attracting and retaining golf players and members, thereby impacting the company's market share and financial results.

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The addressable market for Aureus Greenway's main products and services is within the Florida golf industry. Aureus Greenway operates two public golf country clubs in the greater Orlando region, offering golf recreation, retail golf products, equipment and facilities rental, membership dues, food and beverage services, and ancillary services and amenities.

The overall economic impact of the golf industry in Florida was estimated at $44.2 billion for Fiscal Years 2019-20 and 2020-21. This figure represents the largest contribution within the state's amateur and leisure activities sector.

Historically, in 2000, the total revenues for Florida golf courses were estimated at $4.44 billion. This revenue was distributed across various segments: membership and initiation fees accounted for 38%, playing fees for 27%, food and beverage services for 18%, and retail sales for 6% of the total.

Florida is also a significant destination for golf tourism, contributing to the broader market. In 2013, golf tourism spurred $2.2 billion in spending within the state. The broader USA golf tourism sector is projected to reach $5.9 billion in 2026 and is expected to grow to $9.8 billion by 2036. Florida is a key player in this national market.

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Aureus Greenway (AGH) is undergoing a significant transformation through a definitive merger agreement with Autonomous Power Corporation, operating as Powerus. This strategic pivot into the autonomous drone and defense sector is expected to be the primary driver of future revenue growth over the next 2-3 years for the combined entity, which will be named Powerus Corporation.

Here are the key expected drivers of future revenue growth:

1. Expansion into the Autonomous Drone and Defense Market: The merger with Powerus introduces Aureus Greenway to the high-growth market of autonomous drone systems for military and commercial applications. This new venture is anticipated to drive substantial revenue as the combined company capitalizes on increasing demand in the defense sector and other high-risk environments.
2. Strategic Capital Infusion and Investments: The merger is being supported by significant financial backing, including a committed $50 million equity investment from KCGI and a separate $9.0 million private placement by Aureus Greenway. This influx of capital is expected to fuel the development, production, and scaling of advanced drone technologies, directly contributing to revenue growth.
3. Leveraging Growing Military and Commercial Demand: Powerus specializes in building and scaling autonomous drone systems for both military and commercial use. The strategic intent is to capitalize on the increasing global demand for such technologies, which are critical for various defense operations and commercial applications in challenging environments.
4. Development and Scaling of Advanced Drone Systems: The core business of the merged entity will revolve around the continuous development and scaling of sophisticated autonomous drone systems. Innovation and product deployment in this rapidly evolving technological space will be a direct contributor to expanding the company's market share and revenue streams.

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Share Issuance

• In February 2025, Aureus Greenway Holdings Inc. completed an initial public offering (IPO) of 3,750,000 shares of common stock at $4.00 per share, generating $15,000,000 in gross proceeds.
• In July 2025, the company entered into agreements for a private placement of common stock and warrants, with aggregate gross proceeds of approximately $26 million.
• In March 2026, Aureus Greenway Holdings Inc. closed a private placement, issuing 3,009,667 shares and/or pre-funded warrants at $3.00 per share, resulting in approximately $9.0 million in gross proceeds.

Inbound Investments

• A private placement in July 2025 raised approximately $26 million from accredited and institutional investors for working capital and general corporate purposes.
• A private placement closed in March 2026 generated approximately $9.0 million from institutional and accredited investors, with proceeds intended for working capital, general corporate purposes, and expenses related to the proposed business combination with Powerus.
• As part of the merger with Powerus, a strategic $50 million investment was received, with notable investors in the combined entity including American Venture Partners, Eric Trump, and Donald Trump Jr., along with support from Unusual Machines (UMAC).

Outbound Investments

• Aureus Greenway Holdings Inc. entered into a definitive merger agreement with Autonomous Power Corporation (doing business as Powerus) in March 2026.
• The merger is structured as an all-stock transaction where Powerus will become a wholly-owned subsidiary of AGH, with the combined company expected to trade on Nasdaq under the ticker "PUSA".
• The agreement includes a potential earn-out of up to 42.5 million additional shares, which could increase to 50 million shares.

Capital Expenditures

• In Q3 2025, Aureus Greenway Holdings Inc. invested $292,000 in capital expenditures for long-term assets and infrastructure.
• Earlier in 2025, capital expenditures amounted to $127,000, consuming a significant portion of operating cash flow.