Slide 1: Earnings Call Q2' 2025
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Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purposes whatsoever on the information contained in this presentation or on its completeness, accuracy, or
Slide 3: Mr. Munaf Ali and Mr. Sheharyar Malhi
Mr. Munaf Ali Mr. Sheharyar Malhi Board Member, Co-founder & Group CEO Group CFO Earnings call - Q2’2025
Slide 4: Table of Contents
5 6 7 Business Strategic PHX Share Performance Achievements Performance 8 9 10 Operational Key Highlights Balance Sheet Metrics Review 11 12 13 PnL Review Optimization Phoenix Crypto Table of initiatives Treasury Contents 14 15 16 Peer Comparison Industry Overview Strategic Direction
Slide 5: Business Performance - Q2' 2025
Business Performance - Q2' 2025 Q2’25 revenue was $29M, bringing H1’25 total to $60M. Trading activity was deliberately held back to benefit from the anticipated BTC price rally, which recovered after the trade war shocks from $74K in April-25 to its all-time high of $123K in Jul-25 Phoenix contribu
Slide 6: Strategic Achievements - Q2' 2025
Strategic Achievements - Q2' 2025 Phoenix remains committed to retaining our leadership in the region while strengthening our footprint globally, with several key initiatives in progress. Here are some of the notable developments for the quarter ended: Continued discussion with partners to expand fu
Slide 7: PHX Share Performance
Strategic Achievements - Q2' 2025 PHX Share Performance PHX ranked among the top five most liquid stocks on the ADX It was the third-best performing stock on the exchange in Q2 2025, and the momentum continues in Q3 2025 PHX rose 72% across Q2 2025 from April to June, and extended its rally to a 110
Slide 8: Operational Metrics - Q2' 2025
Operational Metrics - Q2' 2025 * Earnings call - Q2’2025 8 Sources: PHOENIX GROUP PLC Internal Data Matrices; 1 Total BTC mined inclusive of hosting business for clients and Citadel; 2 Blended cost; *Phoenix Share in the Joint Venture investment
Slide 9: Key Highlights - Q2' 2025
Key Highlights - Q2' 2025 Earnings call - Q2’2025 9 Sources: PHOENIX GROUP PLC Internal Data Matrices.
Slide 10: Balance Sheet Review - Q2' 2025
Balance Sheet Review - Q2' 2025 TOTAL ASSETS TOTAL DIGITAL ASSETS TOTAL NON-DIGITAL ASSETS (USD MN) (USD MN) (USD MN) YoY: -15% YoY: -8% YoY: -18.7% QoQ: -3.5% QoQ: -2% 920 321 QoQ: -4.3% 599 810 509 782 301 295 487 JUN:24 MAR:25 JUN:25 JUN:24 MAR:25 JUN:25 JUN:24 MAR:25 JUN:25 Total assets declined
Slide 11: PnL Review - Q2' 2025
PnL Review - Q2' 2025 REVENUE TOTAL GROSS MARGIN ADJUSTED EBITDA (USD MN) (USD MN) YoY: -43% YoY: -6 pp QoQ: -7% 51.2 QoQ: 8 pp 31.3 29.1 YoY: -95% 34% QoQ: 122% 28% 8.3 20% -1.7 0.38 Q2:24 Q1:25 Q2:25 Q2:24 Q1:25 Q2:25 Q2:24 Q2:25 Q1:25 The revenue for Q2'25 clocked in at $29M down 7% QoQ led by de
Slide 12: Optimization Initiatives Paying Off
Optimization Initiatives Paying Off Self Mining Gross Margins Mining Efficiency (J/TH) Avg Power Price ($/Kwh) 35% 32.0 0.060 32 0.060 30% 31.2% 31 30.0% 0.058 25% 29.9 30 23.7% 0.057 0.056 20% 29 0.056 15% 28 0.054 26.9 10% 27 25.9 0.052 5% 26 0.052 5.3% 0% 25 0.050 Q3, 2024 Q4, 2024 Q1, 2025 Q2, 2
Slide 13: Phoenix Crypto Treasury
Phoenix Crypto Treasury Phoenix Group has entered the global top 50 list of publicly listed Bitcoin treasury companies, marking a key milestone in corporate crypto adoption The group is the first ADX-listed company to formalize a crypto treasury strategy, showcasing its pioneering role in the UAE’s
Slide 14: Peer Comparison - Q2' 2025
Peer Comparison - Q2' 2025 Ranked amongst top 10 bitcoin mining companies based on latest available data. REALIZED HASHRATE OF TOP 10 BITCOIN MINING COMPANIES (Figures as of Q2, 2025) 50 44.57 40 40.02 36.60 30 30.73 29.71 20 16.94 14.02 13.10 10 11.00 10.49 $42,016 0 MARA CLSK IREN RIOT CANG BITF C
Slide 15: Industry Overview
Industry Overview Q2, 2025 at a glance BTC Performance Bitcoin maintained its lead among asset classes, delivering an impressive 30.7% return in the second quarter of 2025. This remarkable performance further solidifies its position as a powerhouse in the investment landscape Crypto Ownership on the
Slide 16: Strategic Direction
Strategic Direction 2025 & beyond . FOREIGN LISTING . Earnings call - Q2’2025 16
Slide 17: Strategic Direction
Strategic Direction 2025 & beyond Phoenix is accelerating its expansion into the US to strengthen its position as a global leader in mining infrastructure and advance its broader diversification strategy HPC and AI-driven growth present a strategic diversification opportunity for Phoenix Group beyon
Slide 18: Phoenix
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Slide 19: Connect With us
PHOENIX Soheib Ghizali — Head of Investor Relations ) Contact Email +971 4 323 9120 soheib@phoenixgroupuae.com Abu Dhabi, United Arab Emirates )) Contact 9 Address +971 4 323 9120 3412, 34 Floor, Al Magam Tower, Regus Adgm Square, Al Maryah Island, ‘Abu Dhabi, UAE Dubai, United Arab Emirates ) Conta