Corporate Bitcoin Treasuries

Locator: Items 7.01 and 8.01; ATM Update and BTC Update tables; Aggregate BTC Holdings as of August 30, 2026

Limitation: This is an issuer-reported consolidated holding. SG has not independently verified custodian balances or wallet control. The same filing reports common-share issuance, preferred-stock repurchases, dividends, and cash allocation; the BTC figure should not be read without that financing context.

Locator: Part I, Item 1, Note 6 - Digital Assets, pages 15-16; Bitcoin units and outstanding balance at June 30, 2026

Limitation: Approximately 16,116 BTC were pledged as collateral and unavailable for liquidity; custody is with Anchorage and wallet control was not independently verified; the filing reports a material weakness related in part to technical accounting for the PIPE Bitcoin Sale; later changes are possible.

Locator: Page 4, Overview of Operating Results; Bitcoin holdings totaled 43,000 BTC as of June 30, 2026

Limitation: The disclosure is an issuer-reported consolidated holding. Metaplanet uses Bitcoin and cash as collateral and had drawn a Bitcoin-collateralized credit facility, but this source does not quantify how many of the 43,000 BTC were pledged. The company also states that on-chain information alone cannot establish address ownership, custodial control, or liens. SG has not independently verified those matters, and later transactions may change holdings after June 30, 2026.

Locator: Part I, Item 1, Note 5 - Digital Assets, page F-16; Total bitcoin holdings as of June 30, 2026

Limitation: The disclosed total includes 4,742 BTC loaned to third parties and 4,528 BTC pledged as collateral; only 26,307 BTC were unrestricted. It excludes 44 BTC held by an equity-method investee pending distribution. SG has not independently verified wallets, custody, counterparties, or collateral control, and MARA states that it sells bitcoin on an ongoing basis, so this is not a claim about holdings after June 30, 2026.

Locator: Item 8.01; balance and shares-outstanding table comparing August 21 with August 28, 2026

Limitation: This is an issuer-reported holding. SG has not independently verified custody or wallet control. The filing reports both a BTC increase and a larger common-share base, so the acquisition should not be presented as a holding change alone.

Locator: Part I, Item 1, Note 4 - Bitcoin, pages F-13 to F-14; number of Bitcoin held at June 30, 2026

Limitation: This amount excludes a separate receivable relating to 1,719 BTC posted to derivative counterparties after control transferred; those counterparties served as custodians of the collateral. Wallet control was not independently verified and later changes are possible.

Locator: Part I, Item 1, Note 5 - Bitcoin, page 12; balance and restricted-Bitcoin reconciliation at June 30, 2026

Limitation: Of the total, 5,821 BTC were restricted as collateral for the company's credit facility and 5,559 BTC were unrestricted; custody addresses and control were not independently verified; later mining, sales, or collateral changes are possible.

Locator: Part I, Item 3 - Market Price Risk of Bitcoin, page 59; 17,316 consolidated BTC split between 9,314 held by Hut 8 and 8,002 held by American Bitcoin

Limitation: This entity-level amount intentionally excludes American Bitcoin's 8,002 BTC to prevent double-counting when that separately listed company is recorded; Hut 8 controls American Bitcoin and its consolidated filing reports 17,316 BTC. Of Hut 8's attributed amount, 4,850 BTC were pledged as collateral. Third-party custody and wallet control were not independently verified.

Locator: Part I, Item 1, Note 11 - Bitcoin, page 24; Bitcoin investment balance at June 30, 2026

Limitation: The amount excludes 299 BTC held briefly for Cash App operating purposes and excludes all customer and trading-partner Bitcoin; custody keys or addresses were not independently verified and later changes are possible.

Locator: Part I, Item 1, Note 5 - Digital assets, pages 14-15; standalone reserve and custody/pledge split at June 30, 2026

Limitation: Of the total, 3,090 BTC were pledged to Bitmain for miner purchases and restricted, while 4,912 BTC were held in custody. Hut 8 controls American Bitcoin; Hut 8's separate ledger amount excludes these coins to prevent double-counting. Wallet control was not independently verified and later changes are possible.

Locator: First Quarter of 2026 Financial and Operational Highlights; digital asset reserves at quarter-end

Limitation: This is an unaudited company results release rather than audited financial statements; the disclosure does not establish custody addresses, restrictions, or encumbrances, and Cango's mining and treasury activity may have changed after March 31, 2026.