Slide 1: ThinkEquity Conference 2025, October 30, 2025
THINKEQUITY CONFERENCE 2025 OCTOBER 30, 2025
Slide 2: Disclaimer
# 2 DISCLAIMER This presentation has been prepared by ETHZilla Corporation (“ETHZilla” or the “Company”) solely for information purposes . This presentation does not constitute an offer to sell or the solicitation of an offer to buy or acquire securities of the Company in any jurisdiction or an indu
Slide 3: Born from Ethereum. Built for Everyone.
BORN FROM ETHEREUM . BUILT FOR EVERYONE .
Slide 4: More than a digital asset treasury, ETHZilla is a leading financial technology company powered by ETH
# 4 MORE THAN A DIGITAL ASSET TREASURY (DAT), ETHZILLA IS A LEADING FINANCIAL TECHNOLOGY COMPANY POWERED BY ETH ETHZilla is a next generation Ethereum - based technology company: a digital platform powered by ETH, designed to generate differentiated cash flow and bring real - world assets on - chain
Slide 5: Our Model
# 5 OUR MODEL What we do: 2 ETHZilla deploys its ETH to leading DeFi protocols, where it earns differentiated staking yields in excess of typical fixed income returns 3 ETHZilla plans to acquire real - world - assets (RWAs), tokenize them, and sell the respective tokens through Liquidity.io’s regula
Slide 6: Core Verticals
# 6 Core Verticals ETHZIlla is focused on defensive, acyclical industries that will provide investors exposure to cash yielding assets. MARKET OPPORTUNITY $195B $2.5T $4.6T $100T 2020 2022 2025 2030 85% CAGR Primary Verticals # Banks # Consumer Lenders # Fund Managers # FinTech Lenders # Aerospace R
Slide 7: Ethereum Underpins Our Strategy
ETHEREUM UNDERPINS OUR STRATEGY
Slide 8: The World Is Moving On-Chain: Ethereum Leads
# 8 THE WORLD IS MOVING ON - CHAIN: ETHEREUM LEADS The New Digital Reserve Asset – ETH is scarce, predictable, and productive through staking — combining the qualities of gold, Treasuries, and fixed income into one asset. Collateral & Infrastructure at Scale – ETH secures ~$80B+ 1 through DeFi proto
Slide 9: Stablecoins Are Driving On-Chain Activity
# 9 STABLECOINS ARE DRIVING ON - CHAIN ACTIVITY (1) Source: Artemis as of 9/25/2025 (2) Source: DeFiLlama With $200B+ outstanding and trillions settled annually, the growth of stablecoins reinforces ETH as core financial infrastructure, creating sustained demand and greater liquidity for holders. #
Slide 10: Ethereum Scales Through Layer 2s
# 10 ETHEREUM SCALES THROUGH LAYER 2’S Source: Artemis As activity grows on L2 networks like Arbitrum , Optimism, and Base, Ethereum’s role as the settlement layer is reinforced, driving demand, deeper liquidity, and greater institutional legitimacy. Stablecoin Transfer Volume ($millions) 0 1,000,00
Slide 11: ETHZ's Yield Allocation Strategy
# 11 ETHZ’S YIELD ALLOCATION STRATEGY Notes: ETH was purchased at an average price of $4,057 as of 10/28/25.. (1) Earning rewards by validating and securing one or mo re blockchain protocols. Past performance is not indicative of future performance. Staking and Liquid Staking yield is subject to flu
Slide 12: Tokenization
TOKENIZATION
Slide 13: Institutional Adoption
# 13 INSTITUTIONAL ADOPTION # Global Financial Institutional adoption is accelerating + BlackRock launched BUIDL tokenized fund + Galaxy Digital launched GalaxyOne + Franklin Templeton developed Benji Technology + JPMorgan developed Kinexys Blockchain # Regulatory Clarity through U.S. GENIUS Act and
Slide 14: Tokenized RWA Adoption Curve
# 14 TOKENIZED RWA ADOPTION CURVE 2018 - 2020 Experimentation # Early crypto - native pilots testing tokenized real estate, art, and debt # Limited regulatory clarity and fragmented infrastructure 2021 - 2023 Institutional Pilots # Regulatory sandboxes and frameworks (e.g., MAS Project Guardian, EU
Slide 15: ETHZilla Invests in Liquidity.io
# 15 ETHZILLA INVESTS IN LIQUIDITY.IO # ETHZilla is purchased 15% of parent company of Liquidity.io at a $100mm valuation # ETHZilla invested $5mm cash & issued $10mm of restricted ETHZ common shares to parent company of Liquidity.io # ETHZilla has exclusive right to list Ethereum L2 Tokens on the E
Slide 16: What Is Liquidity.io?
# 16 WHAT IS ? Liquidity.io bridges private markets and blockchain, enabling seamless trading of tokenized real - world assets on Ethereum. (1) Source: Satschel Corp. Announcement Presentation Liquidity.io converts private equity, structured credit, and real - world assets into Ethereum - based toke
Slide 17: ETHZilla Is Well Positioned to Create Value Through Tokenization
# 17 ETHZ plans to transform capital - heavy real assets into liquid, yield - generating tokens, creating recurring revenue and scalable market value.. ETHZILLA IS WELL POSITIONED TO CREATE VALUE THROUGH TOKENIZATION Acquire + Tokenize Distribute Returns Return yield to ETHZ and token holders Genera
Slide 18: Compelling Valuation
a COMPELLING VALUATION
Slide 19: Our Valuation Model
# 19 # 3 OUR VALUATION MODEL # 1 ETH Accumulation ETH Yield Generation # Electric Capital # Puffer.io # Ether.Fi Tokenization # Liquidity.io LEADS TO : Here’s how we think about our growth drivers and valuation: Through our partnerships and differentiated deployment strategy, we generate recurring c
Slide 20: The Flywheel in Action: From Acquisition to Access
# 20 THE FLYWHEEL IN ACTION: FROM ACQUISITION TO ACCESS There is demand for liquidity, access, and efficiency. ETHZilla delivers it by investing in the infrastructure that makes it possible. ETHZilla is built on the conviction that Ethereum will power the next generation of financial infrastructure.
Slide 21: Thank You
r THANK YOU