B Treasury Capital (BTC) investor relations material

Key product features and offer details

• Preferred shares offer a 10% annual yield, paid monthly in SEK, with a two-year dividend reserve in cash.

• Shares are backed by a Bitcoin balance sheet, with 22% leverage and zero bank debt.

• Nominal price is 120 SEK per share, with a 1 SEK monthly dividend per share.

• Targeted at income-oriented investors seeking predictable cash flow with Bitcoin exposure.

• Shares are listed on the Spotlight Stock Market, with an indicative listing date in July 2026.

Digital credit concept and market positioning

• Digital credit is fixed income backed by Bitcoin, considered a superior store of value to traditional assets.

• The product delivers the highest yield among Swedish preferred shares and European investment-grade bonds.

• Achieves high yield with significantly lower leverage compared to real estate peers.

• Emphasizes liquidity and transparency of Bitcoin versus traditional real estate assets.

Institutional acceptance and risk management

• Major US financial institutions and government-sponsored entities now accept Bitcoin as collateral.

• Dividend payments are stress-tested to survive a Bitcoin crash worse than any in its history.

• Monte Carlo simulations show less than 1% annual risk of a missed dividend, even under severe scenarios.

• Bitcoin's volatility has decreased over time, now comparable to large tech stocks.