MDB Capital Holdings (MDBH) investor relations material

Executive summary

• Focused on monetizing four core assets: Public Ventures, PatentVest, eXoZymes, and Paulex Bio, with a shift from building to monetizing and distributing value to shareholders without equity dilution.

• Completed major IPOs and public offerings, including Buda Juice, Ticketplus, and eXoZymes, and expanded the pipeline of early-stage companies.

• Strategic discipline is prioritized, operating leanly with $5M–$6M annual OpEx and no planned dilution.

• Market conditions for microcaps and sub-$200M companies remain challenging, impacting deal flow and transaction volume.

• eXoZymes is now a minority equity method investment after its IPO in late 2024.

Financial highlights

• Net loss was $16.1 million for the first half of 2026, driven by non-cash losses, investment securities losses, and eXoZymes impairment.

• Two transactions completed in H1 2026, including participation in Ticket Plus IPO; two more expected in H2 2026.

• Fee income from transactions helped offset overhead, but revenue was lumpy and offset by higher unrealized losses.

• Cash and cash equivalents decreased to $9.6 million at June 30, 2026, with $12.1 million in cash, current assets, and marketable securities less all liabilities.

• Fixed operating expenses remained flat at $5M–$6M annually, covered by transactional fees.

Outlook and guidance

• Focus remains on monetizing existing core assets through spin-outs, IPOs, or partnerships, with no new equity issuance planned.

• Expectation to finalize a partnership or sale for Public Ventures in the next quarter and spin out PatentVest.

• Paulex Bio IPO targeted for late 2026, with key clinical data expected in H1 2027.

• Management is monitoring macroeconomic risks but does not expect direct operational impact.