Strive Asset Management (ASST) investor relations material

Executive summary

• Completed the Semler Scientific Merger, expanding into medical device operations and increasing bitcoin holdings by 5,048 BTC, bringing total bitcoin treasury to 15,009 as of May 12, 2026.

• Adopted a bitcoin-based capital allocation strategy, using bitcoin as a hurdle rate for investment decisions.

• Amended and restated the Certificate of Designation for Variable Rate Series A Perpetual Preferred Stock (SATA Stock), increasing dividend payment frequency to daily starting June 16, 2026, at a 13.00% annualized rate.

• Retired all outstanding debt by May 12, 2026, including repurchase of remaining convertible notes, leaving the company debt-free.

• Completed a follow-on public offering of SATA Stock, raising $109.3 million in net proceeds.

Financial highlights

• Total revenues for Q1 2026 were $2.8 million, up 94% year-over-year, driven by medical device revenues post-merger.

• Net loss for Q1 2026 was $265.9 million (GAAP), primarily due to a $295.8 million unrealized loss on digital assets.

• Non-GAAP adjusted net loss attributable to common stockholders was $319.7 million for Q1 2026.

• Cash and cash equivalents as of March 31, 2026 were $95.1 million; as of May 12, 2026, $87.6 million.

• Bitcoin $ Gain of $57.8 million in Q1 2026 and $50.1 million quarter-to-date in Q2 2026.

Outlook and guidance

• Maintains strong liquidity with $87.6 million in cash and 15,009 bitcoin as of May 12, 2026.

• Board set SATA Stock dividend rate at 13.00% per annum for periods commencing May 16, 2026.

• Management believes liquidity is sufficient to meet strategic and working capital needs for at least the next twelve months.

• Management emphasized a focus on bitcoin accumulation and capital allocation to outperform bitcoin over the long run.

• Forward-looking statements highlight risks related to bitcoin volatility, integration of acquisitions, and market conditions.