Very excited to share the big news today: Heritage Distilling has officially rebranded as IP Strategy (Nasdaq: IPST) - the first public company dedicated to building a treasury of $IP. This is something we have been building toward for a long time. With this change, the company’s identity now reflects its mission to position IP as the foundational asset class of the AI era. Why it matters: ✅ New name & ticker (Nasdaq: IPST effective at today’s market open) ✅ Balance sheet reset (all senior secured debt eliminated) ✅ >53M $IP tokens added on balance sheet (~$731M value as of Sep 21, 2025) ✅ Shareholders gave approval of all proposals related to the financing transaction, setting IP Strategy up for a new growth mandate For Story, this is a milestone. IP Strategy is our official public‑market partner and the only U.S. entity we operate today. The Foundation is a significant stakeholder in this vehicle, and plans to use it to bridge crypto and public investors at scale. With the rebrand complete, the market can now see this company for what it is: the first Nasdaq‑listed vehicle for $IP. Now is the right time for us to lean in heavily from the Foundation side. The market has yet to recognize the true value here: today IPST trades well below its mNAV (at 0.32 mNAV as of 21 Sep), despite holding over 53M $IP tokens on its balance sheet (~$731M as of 21 Sep). We believe the stock is grossly mispriced relative to the quality of its assets and strategy. For anyone who sees $IP as the programmable asset for the AI era, IPST represents one of the most asymmetric trades in the market. To show our own conviction and demonstrate our commitment, Story Foundation will be buying IPST shares on the open market. This is both strategic and opportunistic - deepening alignment with IP Strategy and signaling our confidence in its long‑term role in the ecosystem. From Bitcoin → Ethereum → now $IP This is just the beginning. LFG.