X0202 SCHEDULE 13G/A 0002048251-25-002359 0001326389 XXXXXXXX LIVE 2 Common Stock, par value $0.00001 03/31/2026 0001775194 Upexi Inc 39959A205 3030 North Rocky Point Drive Tampa FL 33607 Rule 13d-1(b) Polar Asset Management Partners Inc. A6 9626474 0 9626474 0 9626474 9.99 IA Upexi Inc 3030 North Rocky Point Drive, Tampa, FL 33607 This statement is filed by Polar Asset Management Partners Inc., a company incorporated under the laws of Ontario, Canada, which serves as the investment advisor to Polar Multi-Strategy Master Fund, a Cayman Islands exempted company ("PMSMF") with respect to the shares directly held by PMSMF. 16 York Street, Suite 2900, Toronto, Ontario, M5J 0E6 Canada N FI The Reporting Person is an investment fund manager, portfolio manager, exempt market dealer and commodity trading manager registered with the Ontario Securities Commission. 9626474 9.99 9,626,474 shares issuable upon the exercise of warrants 0 9,626,474 shares issuable upon the exercise of warrants. The warrants are subject to a 9.99% blocker whereby they are not exercisable to the extent that following such conversion, taking into account all other shares of common shares beneficially owned by the Reporting Person, the Reporting Person would beneficially own in excess of 9.99%of the Issuer's outstanding common shares. 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Polar Asset Management Partners Inc. Andrew Ma 05/15/2026