SUI Group Holdings Ltd. Q1 FY2026 earnings call

• Sui Group's strategy is anchored around the Sui blockchain. Sui has object - centric design and uses move programming language for parallel transaction execution, sub - second finality, etc. - Stablecoin markets are record - scale and functional. Regulatory clarity is improving and institutional engagement is increasing. - SUI Group holds over 108 million SUI tokens and is actively deploying them in the ecosystem. - Total value locked on SUI increased. SUI became accessible through spot exchange traded products and had trading on CME. - Hashi, a Bitcoin native lending and borrowing protocol, was introduced. - SUI is well - positioned for agentic artificial intelligence with relevant capabilities. - Legacy specialty finance platform serves as a complementary component with conservative capital deployment.

The legacy specialty finance platform is a complementary component now, providing base cash generation. Digital asset related activities, driven by the SUI treasury strategy, are the primary driver. Total adjusted revenue in Q1 2026 increased to 1.4 million compared to ~778,000 in Q1 2025, mainly from staking revenue and digital lending interest income. First quarter 2026 results included ~$71 million of non - cash losses on digital assets and receivables. Excluding unrealized and realized non - cash losses on digital assets and stock - based compensation, operating expense was $5.6 million. Net loss in Q1 2026 was $71 million or 88 cents per diluted share compared to net income of ~$452,000 or 7 cents per diluted share in Q1 2025. Cash and cash equivalents were $15 million as of March 31, 2026 compared to $21.9 million as of December 31, 2025.

• Expect to end 2026 at approximately 3% to 4% yield. - Have plans for other deals like similar transactions to Bluefin in coming quarters. - Looking at making equity investments in AI sector which could move the needle.

• Recent crypto hacks are a short and medium - term headwind. - Hackers and nefarious actors are using AI to identify potential breaches. - Removal of SUI from DeFi ecosystems directly due to hacks, taken out of caution.

Q: At the end of the quarter, what was cash, first quarter cash used from operations and the share count?

A: Share count including pre - funded warrants is approximately 80.9 million shares, total cash including all stable coins was approximately $15 million, and income from operations was approximately $1.6 million.

Q: Discuss developments on Google's AP2 or other activity improving SWE blockchain transaction volumes.

A: Adeni announced payment intents at SUI Live in Miami, related to complex atomic transactions, and MWOL related to Walrus Protocol for agentic workflows.

Q: Pipeline of deals, number of deals and expected 2026 yield.

A: Removed SUI from DeFi ecosystems out of caution, expect to end 2026 at 3% - 4% yield, looking at other deals like Bluefin and equity investments in AI.

Q: Insights on partnerships decision - making process and other chain aspects to invest.

A: Partnerships decision - making is risk - based. Looking at four main sectors: AI, stable coins, prediction markets, real world tokenization.

Q: Thoughts on Clarity Act as catalyst for industry and SUI.

A: Anticipate Clarity Act to bring huge institutional participation, Bitcoin Hashi was well - received, cautiously optimistic about price appreciation.