Securitize Corp. · NYSE:SECZ
Securitize — SPAC Merger (November 2025)
47 slides from Securitize's SPAC merger presentation, Nov 18, 2025
Slide 1: November 2025
NOVEMBER 2025
Slide 2: Disclosures
Disclosures This presentation and the information contained herein are for informational purposes only and are not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transactions and shall not constitute an offer to sel
Slide 3: Securitize Management Team
Securitize Management Team Chongwu Du Francisco Flores Billy Miller Chief of Staff & Chief Financial Chief Operating Carlos Domingo Head of Strategy Officer Officer Co-founder & CEO Interdisciplinary background in 20+ years international 15+ years working alongside asset management, venture experien
Slide 4: Investment Highlights
A highly trusted tokenization platform with blue-chip institutional Investment partnerships including BlackRock, Apollo, Hamilton Lane, and Van Eck Highlights Positioned to capture a massive TAM of $19T(1) for tokenization of real world assets including equities, fixed income, alternative assets, an
Slide 5: About Tokenization
About Tokenization Tokenization transforms the traditional value chain by digitizing real world assets (RWAs) on blockchains, streamlining issuance and trading while unlocking greater efficiency, transparency Lifecycle Asset and accessibility. Issuance Management Securitize is well positioned at the
Slide 6: Securitize at a Glance
Securitize at a Glance Highly trusted tokenization End-to-End Platform Servicing platform by institutions a Diverse Mix of Asset Classes(2) Securitize Assets Tokenized $4.6 Partnerships with a growing number of leading institutions and (in bn) ~$3bn $3.9 Largest tokenized 350% applications treasury
Slide 7: The Problem
The Problem The financial services system is built on and relies on antiquated technology Limited Operational Lack of Economic Multiple Accessibility(1) Illiquidity(1) Inefficiencies Transparency Tolls Intermediaries Inefficient Traditional Capital Markets are Ripe for an Upgrade Note: (1) For Signi
Slide 8: Tokenization is the Next Evolution in Capital Markets
Tokenization is the Next Evolution in Capital Markets Tokenization BCAP token launches in 2017, first First tier 1 asset manager to BUIDL treasury fund launches in tokenized security tokenize a fund 2024 Stablecoins Launches Launches in 2014 in 2018 Digital Assets Trading Launches Launches in 2012 i
Slide 9: Significant Momentum for Securitize Since 2024
Significant Momentum for Securitize Since 2024 Driving liquidity and functionality through deep integrations across the digital asset and TradFi ecosystems. Regulatory Tailwinds to Crypto Sector End-to-End Integrations Marquee TradFi and Crypto Investors • June 2024: CEO Carlos Domingo spoke on 16 1
Slide 10: Market Opportunity
1 Market Opportunity 2 Who We Are 3 Growth Strategy 4 Financials
Slide 11: Traditional Value Chain vs. Tokenized Value Chain
Traditional Value Chain vs. Tokenized Value Chain Origination Distribution Trading Clearing Settlement Traditional Costly and restrictive Primary market Limited access / liquidity Ensure that involved Transfer securities from process handled by access only to during pre-market or parties fulfill sel
Slide 12: Blockchain Based Tokenized Securities Provide a Better Way to Access and Manage Capital
Blockchain Based Tokenized Securities Provide a Better Way to Access and Manage Capital Tokenized securities using smart contracts can provide a seamless & automated way to raise capital, manage investors, and improve liquidity. Accessibility Liquidity Operational Efficiencies Digitization allows fo
Slide 13: Global Financial Markets are Ripe for Tokenization
BENEFITS OF Global Financial Markets are Ripe for TOKENIZATION Tokenization ➔ Brings global finance onchain Market Readiness and enables digital for Tokenization representations of traditional $128tn Global Bond investments Market (1) ➔ Embedded smart contracts $109tn Global with automated workflows
Slide 14: RWA's Tokenization Has Seen Explosive Growth in Recent Years
RWA’s Tokenization Has Seen Explosive Growth in Recent Years… RWA’s Tokenization Market Cap has Outpaced That of Overall Crypto and Stablecoins… … and is Now Poised for Accelerated Adoption Stablecoin Market Cap RWA Growth Crypto Growth Stablecoin Growth United States (in %) (in %) (in %) ($ in bill
Slide 15: An Emerging Industry with Massive Growth Ahead
…It’s an Emerging Industry with Massive Growth Ahead Analyst Predictions (2) $30T 2034(1) $19T 2033(2) $5T 2030(3) $2T 2030(4) (1) Standard Chartered, (June 2024) (2) BCG and Ripple, (June 2025) (3) Citi, (March 2023) (4) McKinsey, (June 2024) 15
Slide 16: Leaders in the Space are Taking Note
Leaders in the Space are Taking Note “Tokenization is yet “The next generation “I believe tokenization “Whether or not the next step to have for markets, the next is the greatest capital tokenization of equity much more efficiency generation for markets innovation securities takes hold will in the m
Slide 17: Who We Are
1 Market Opportunity 2 Who We Are 3 Growth Strategy 4 Financials
Slide 18: The Securitize Platform Powers the End-to-End Relationship
The Securitize Platform Powers the End-to-End Relationship Between Issuers and Investors Securitize offers a comprehensive and fully-regulated stack, including an SEC-registered transfer agent (permits the issuance and management of tokenized securities), an SEC-registered broker-dealer and an alter
Slide 19: Only End-to-End Vertically Integrated Tokenization Platform
Securitize is the Only End-to-End Vertically Integrated Tokenization Platform Pioneered operations as an SEC-registered Transfer Licensed Transfer Agent Agent operating with digital asset securities and leading crypto fund administration Full Regulatory Stack Licensed Broker Dealer SEC-regulated and
Slide 20: Securitize is Expanding its Global Regulatory Coverage
Securitize is Expanding its Global Regulatory Coverage Taking Advantage of a More Favorable Regulatory Environment UNITED STATES EUROPEAN UNION Madrid Las Vegas Current New York Current Tokyo Tel Aviv • Operating licensed • Formally approved as TA/BD/ATS (all live and Investment Firm (i.e. operation
Slide 21: Widely Integrated with the Digital Asset Ecosystem
Securitize is Widely Integrated with the Digital Asset Ecosystem ` ` Natively integrated with leading and public blockchains, enabling seamless token issuance, transfer and settlement across networks ` Connected with top tier custodians and oracle providers to ensure institutional-grade asset safegu
Slide 22: Building Blocks of Securitize's Business Model
Building Blocks of Securitize’s Business Model Product & Technology Regulatory Stack United States Wormhole Integration for Proprietary APIs Alternative Exempt Cross-Chain Bridging Transfer Agent Broker Dealer Trading System Reporting Adviser Tokenization platform that fully integrates compliance pr
Slide 23: BlackRock Partnership and BUIDL's Explosive Growth
BlackRock Partnership and BUIDL’s Explosive Growth BUIDL is a tokenized treasury private fund with the fund’s assets fully allocated to cash, U.S. Treasury bills, and repurchase agreements, aiming to maintain a stable token NAV at $1. January 2024 March 2024 After its March launch, BUIDL quickly bec
Slide 24: Competitive Landscape Overview
Competitive Landscape Overview TOKENIZATION SERVICE ASSET MANAGERS ISSUERS OF FREELY PROVIDERS with Inhouse Tokenization Capability TRANSFERABLE TOKENS Tokenization platform providers These asset managers are not These firms issue wrapper products that offer a variety of services Securitize’s direct
Slide 25: Well-Positioned Among Peers for Adoption
Securitize is Well-Positioned Among Peers for Adoption Other Tokenization Platforms Traditional Fund Managers Regulatory Framework Fully regulated, operates under Lack of full U.S. / EU licensing Compliance-heavy built on legacy systems & Geographic Reach U.S. and EU frameworks End-to-end product su
Slide 26: Our Board of Directors
Our Board of Directors Carlos Domingo Chairman Jon Steel Tal Elyashiv W Bradford Stephens Managing Director at Managing Partner & Co- Managing Partner & Co- BlackRock Founder at SPiCE VC Founder at Blockchain Capital Pedro Teixeira Chris Bruner Managing Director & Co- Chief Product Officer at Head o
Slide 27: Growth Strategy
1 Market Opportunity 2 Who We Are 3 Growth Strategy 4 Financials
Slide 28: Strategy Focuses on Efficient Growth within the Crypto Ecosystem
Our Strategy Focuses on Efficient Growth within the Crypto Ecosystem while Preparing for Expansion in TradFi Markets Short-term focus: penetrate the $4T(1) crypto market Grow AUM: Expand into adjacent activities to better monetize AUM: • Continue growing distribution (both direct and indirect) • Fun
Slide 29: Growth Strategy for Tokenized RWA Focuses on Three Pillars
Securitize Growth Strategy for Tokenized RWA Focuses on Three Pillars Tokenized treasuries where we command the highest market share1 with Blackrock’s BUIDL and VanEck’s VBILL and we believe that there continues to be a large opportunity due to the following factors: • Disparity in the crypto indust
Slide 30: Tokenization of Public Securities – Stocks, ETFs, etc.
Tokenization of Public Securities – Stocks, ETFs, etc. One of the next frontiers of tokenization are public securities such as stocks and ETFs. Securitize’s Role Benefits to Issuers Benefits to Investors • Successfully tokenized Exodus stock • Expanding access to the global • Allows investors to hol
Slide 31: Current Pipeline of Products
Current Tokenized CLO product with a large US bank, their first foray into the Pipeline of tokenization space in public blockchains Products Tokenized version of very well known asset manager that is retail available This is a list of products that are in the advanced stage of development and Tokeni
Slide 32: Financials
1 Market Opportunity 2 Who We Are 3 Growth Strategy 4 Financials
Slide 33: The Securitize Revenue Model
The Securitize Revenue Model TOKENIZATION ASSET SERVICING Onchain Tokenization Transfer Fund Administration Infrastructure & Distribution Agent Services Integration with blockchain Trading of RWAs as tokenized SEC-registered Transfer Agent focused on Provides full administrative protocols to optimiz
Slide 34: Increased Momentum in Quarterly Revenue, Resulting in 10x Topline Growth
KEY DRIVERS Increased Momentum in Quarterly Revenue, Resulting in 10x Topline Growth and Positive EBITDA 1 ➔ BlackRock’s USD Institutional Digital Liquidity Fund Token (“BUIDL”) was released in Q2 2024, growing to $3bn by Q2 2025 ➔ Apollo’s Diversified Credit Quarterly Revenue and EBITDA 14% Securit
Slide 35: Forecasting Continued Growth With Operating Leverage
Forecasting Continued Growth With Operating Leverage 1 Average Securitize AUM Revenue EBITDA of Tokenized Assets ($ in bn) ($ in mm) 59% ($ in mm) 283% $9 $110 % Margin % YoY Growth ’24A–’26E 29% CAGR $32 260% $69 24% $ 17 $4 $19 $1 20 24 A 20 25 E 20 26 E (1) (1) 20 24 A 20 25 E 20 26 E 20 24 A 20
Slide 36: Strong Visibility into Q4 2025
Strong Visibility into Q4 2025 with Tailwinds Driving Revenue Growth in 2026 1 ~$85mm contracted and Growth Opportunities recurring based on current ($ in mm) AUM Tokenization Asset Servicing % YoY Growth 59% • Strong Tokenized Money Market and Fixed • Strong growth, driven by integrations with BUID
Slide 37: Material Growth Opportunities in 2026 Above the Base Case
Material Growth Opportunities in 2026 Above the Base Case 1 Growth Opportunities ($ in mm) Tokenization Asset Servicing 104% % YoY Growth • Increase value in the Tokenized Securities Market • Continue growth in contractual agreements • Increase adoption of Tokenization of Public with Asset Managers
Slide 38: Securitize's Revenue Opportunity: Tokenization
Securitize’s Revenue Opportunity: Tokenization Q2 2025 Key Long Term TradFi Highlights Opportunity $400T+ Opportunity for (~5 Years)(1) expansion beyond crypto into the $400T+ TradFi AUM $10T+ Crypto Leader in Market ~$4T(2) Crypto Share $2T+ RWAs Stablecoin ~$300B(3) $800B+ Stablecoin $25B RWAs Pot
Slide 39: Securitize's Revenue Opportunity: Asset Servicing
Securitize’s Revenue Opportunity: Asset Servicing Q2 2025 Key Long Term TradFi Highlights ~185 Asset Managers(1) Opportunity $400T+ ~1,400 Asset Managers 659 Funds(1) (~5 Years)(2) Unified investor experience to cross- +23K Investors sell RWAs & opportunity for fee escalation $10T+ Crypto ~$4T(3) Cr
Slide 40: Transaction Overview
Transaction Overview Growth Opportunities Sources &Uses Sources & Uses • Valuation: pre-money equity value of $1.25 billion • Strong Alignment of Interest 3 – CEPT founder shares subject to potential forfeiture in proportion to redemption levels and earnout 1 – Seller earnout (6.25m shares) at $15.0
Slide 41: Disclosures & Risk Factors
Disclosures & Risk Factors 41
Slide 42: Annex A – Disclaimers and Other Important Information
Annex A – Disclaimers and Other Important Information This presentation (this “Presentation”) and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdictio
Slide 43: Annex A – Disclaimers and Other Important Information (Cont'd)
Annex A – Disclaimers and Other Important Information (Cont’d) Projections and Other Forward-Looking Statements This presentation (and any oral statements regarding the subject matter of this presentation) contains certain forward-looking statements with respect to Securitize, including expectations
Slide 44: Risk Factors
Risk Factors Factors that could cause actual results to differ materially from those described herein in the presentation include, among others: Risks Related to Securitize’s Business and Industry • We face intense and increasing competition. Many of our competitors have greater resources than we do
Slide 45: Risk Factors (Cont'd)
Risk Factors (Cont’d) Risks Related to Our Financial Condition, Accounting and Tax Matters • Our insurance coverage might be inadequate or expensive. • Changes in U.S. and foreign tax laws and policies and challenges by tax authorities could adversely impact our tax liabilities. • Future development
Slide 46: Risk Factors (Cont'd)
Risk Factors (Cont’d) Risks Related to CEPT and the Business Combination (cont’d) • Because CEPT is seeking to obtain shareholder approval of the Business Combination, the Sponsor and CEPT’s directors and officers and their respective affiliates may elect to purchase Public Shares from Public Shareh
Slide 47: Company Overview
Company Overview CONFIDENTIAL – DO NOT DISTRIBUTE WWW.SECURITIZE.IO MARCH 2025 Visit us on: WWW.SECURITIZE.IO