Slide 1: Parataxis Holdings Investor Presentation
PARATAXIS HOLDINGS INVESTOR PRESENTATION August 2025 STRICTLY CONFIDENTIAL
Slide 2: Disclaimers and Other Important Information
DISCLAIMERS AND OTHER IMPORTANT INFORMATION General This investor presentation (this “Presentation”) is for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) among SilverBox Corp IV (
Slide 3: Disclaimers and Other Important Information
DISCLAIMERS AND OTHER IMPORTANT INFORMATION Additional Information and Where to Find It PubCo, the Company and SBXD intend to file with the SEC the registration statement on Form S-4 (as amended or supplemented from time to time, the “Registration Statement”), which will include a preliminary proxy
Slide 4: Disclaimers and Other Important Information
DISCLAIMERS AND OTHER IMPORTANT INFORMATION Forward Looking Information This Presentation (and any oral statements regarding the subject matter of this Presentation) contains certain forward-looking statements within the meaning of the U.S. federal securities laws with respect to the Parties and the
Slide 5: Table of Contents
TABLE OF CONTENTS I Executive Summary II Growth Accelerants III Proposed Transactions Overview
Slide 6: Executive Summary
EXECUTIVE SUMMARY We believe Parataxis Holdings represents a highly differentiated investment opportunity with multiple paths to value creation Overview Proposed Equity Offering and Cash in Trust − Parataxis Holdings is an asset management platform founded by principals of Parataxis Capital − We hav
Slide 7: The Team
THE TEAM Edward Chin Andrew Kim Thejas Nalval Joe Reece Founder & CEO CEO Co-Founder & CIO Founding Partner Parataxis Holdings Parataxis Korea PCM SilverBox Corp IV − Founded PCM in 2019 and serves as − Partner and Portfolio Manager at PCM − Co-Founded PCM in 2019 and serves − Co-founder of SilverBo
Slide 8: Parataxis Holdings: A Differentiated Platform
PARATAXIS HOLDINGS: A DIFFERENTIATED PLATFORM A differentiated platform combining BTC exposure, proprietary growth opportunities, and accretive yield generation, delivered through institutional-grade management and execution 1 2 3 Parataxis Korea: “The Next Metaplanet” Enhanced BTC Yield Generation
Slide 9: Illustrative Platform Structure
ILLUSTRATIVE PLATFORM STRUCTURE Our platform is designed to execute on our strategy of layering in an enhanced BTC treasury strategy across a proprietary pipeline of international platform investment opportunities Transaction Perimeter Execution and 1− Parataxis Korea: Parataxis Holdings has entered
Slide 10: Partnership with PCM
PARTNERSHIP WITH PCM Parataxis Holdings is led by a management team with a long tenure and track record in successfully managing a multi-strategy digital asset manager PCM Overview PCM Representative Press Highlights − Founded in 2019, PCM is a New York-based digital asset investment manager focused
Slide 11: The BTC Treasury Flywheel 2.0
“THE BTC TREASURY FLYWHEEL 2.0” Our differentiated model is an evolution of the “BTC Treasury Flywheel”, where the ability to generate real BTC-on-BTC yield drives organic treasury growth and value accretion “Planned BTC Treasury Flywheel 1.0” “Planned BTC Treasury Flywheel 2.0” Issue Buy Equity BTC
Slide 12: Table of Contents
TABLE OF CONTENTS I Executive Summary II Growth Accelerants III Proposed Transactions Overview
Slide 13: Summary of Parataxis Holdings' First Korean Transaction
1 SUMMARY OF PARATAXIS HOLDINGS’ FIRST KOREAN TRANSACTION We believe the potential Parataxis Korea transaction would be a landmark transaction that would garner significant interest from investors Transaction Overview Illustrative Transaction Structure1 − On June 20, 2025, Parataxis Holdings announc
Slide 14: Significant Demand for Digital Asset Exposure in Korea
1 SIGNIFICANT DEMAND FOR DIGITAL ASSET EXPOSURE IN KOREA Korean Crypto Volumes Often Surpass Domestic Equity Markets1 $m Crypto Exchange Volume vs. KOSPI and KOSDAQ Stock Exchanges (2024) $20,000 $15,000 $10,000 $5,000 $- 2/26 2/27 2/28 2/29 3/4 3/5 3/6 3/7 3/8 3/11 3/12 3/13 3/14 3/15 3/18 3/19 3/2
Slide 15: Parataxis Holdings' Opportunity and Advantage in Korea
1 PARATAXIS HOLDINGS’ OPPORTUNITY AND ADVANTAGE IN KOREA We believe Korea represents an attractive market in which to execute a BTC treasury strategy, and one where Parataxis Holdings has significant advantages Attractive Market for BTC Treasury Significant Effort Undertaken To Strategy Difficult to
Slide 16: Case Study: Metaplanet
1 CASE STUDY FOR PARATAXIS’ FIRST KOREAN TRANSACTION: METAPLANET The #1 Performing Stock in the World in 20241 Metaplanet (Tokyo: 3350) Performance Since BTC Key Structural Factors in Japan Strategy Adoption 7/28/2025: 7/14/2025: Bought ~797 BTC to Purchased ~780 BTC − Structural factors in Japan co
Slide 17: Enhanced BTC Treasury Yield Strategy
2 PARATAXIS HOLDINGS’ ENHANCED BTC TREASURY YIELD STRATEGY Proposed Transactions with SBXD would provide public shareholders direct access to principals of PCM, who would manage an institutional-grade BTC treasury yield strategy for Parataxis Holdings Strategy Overview − Leverages PCM’s experience a
Slide 18: Enhanced BTC Treasury Yield Strategy Expected to Deliver Sustainable Valuation Premium
2 PARATAXIS HOLDINGS’ ENHANCED BTC TREASURY YIELD STRATEGY IS EXPECTED TO DELIVER A SUSTAINABLE VALUATION PREMIUM Investors have traditionally rewarded companies that can generate a consistently higher risk-adjusted return on assets Illustrative Effect of Parataxis’ BTC Treasury Strategy1 ROA vs. P
Slide 19: Table of Contents
TABLE OF CONTENTS I Executive Summary II Growth Accelerants III Proposed Transactions Overview
Slide 20: Pro Forma Financial Summary
PRO FORMA FINANCIAL SUMMARY Illustrative Pro Forma Ownership and Valuation Summary Sources and Uses ($M) Implied Shares Outstanding (M) Sources Uses Parataxis Holdings Shareholders1,2 10.00 SBXD Cash in Trust $209.0 Bitcoin Purchases $215.7 SBXD Public Shareholders 20.00 Equity Offering Proceeds 31.
Slide 21: Risk Factors
RISK FACTORS RISKS RELATED TO PUBCO’S BUSINESS AND BITCOIN TREASURY STRATEGY AND HOLDINGS Upon the Closing of the Business Combination, PubCo’s principal asset will be Bitcoin. Bitcoin is a highly volatile asset, and PubCo’s operating results may significantly fluctuate, including due to the highl
Slide 22: Risk Factors
RISK FACTORS RISKS RELATED TO THE BUSINESS COMBINATION The consummation of the Business Combination is subject to a number of factors, including the successful execution by the parties of a definitive business combination agreement. The consummation of the Business Combination is expected to be
Slide 23: Risk Factors
RISK FACTORS RISKS RELATED TO THE COMPANY’S AFFILIATIONS AND INVESTMENTS Conflicts of interest may arise from investment and transaction opportunities involving PubCo, the Company, its affiliates, and other investors and clients. The management of the Company may have competing time demands and
Slide 24: Thank You
THANK YOU STRICTLY CONFIDENTIAL