Slide 1: Earnings Call Q4/FY'2024
~~ PHOENIX v se . . e age, eo °0,°0 - ee ce. @, @ e oe? . ee . e e . ° e e? 0 . e e e . . ° e @ : - ee. ©, @ e On, 0 @ . @ ° e. @. @ ° eo. @, @ ec. @e. @ *. o,°? o,°? Farnings Call A Q4/FY’ 2024
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: Group CEO and Group CFO
Mr. Munaf Ali Mr. Sheharyar Malhi Board Member, Co-founder & Board Secretary & Group CEO Group CFO Earnings call - Q4/FY’2024
Slide 4: Table of Content
Business Performance 05 Market Overview 12 Strategic Achievements 06 Strategic Direction 13 Operational Metrics 07 Guidance 2025 14 Key Highlights 08 What We Do 15 Balance Sheet Review 09 Exchange Valuation 16 PnL Review 10 PHX Valuation 17 Table of Peer Comparison 11 Content
Slide 5: Business Performance
Business Performance Q4/FY’ 2024 We are pleased to announce an impressive 236% y-o-y growth in Bitcoin mining revenue in-line with its focus on this vertical as its strategic bet in FY’ 2024. The mining revenue in 2024 stands at $107M compared to $32M in 2023 and $5.4M in 2022 marking a surge of 185
Slide 6: Strategic Achievements
Strategic Achievements Q4/FY’ 2024 We remain committed to strengthening our leadership in the region, with several key initiatives in progress. Here are some of the notable developments for the year ended: Launch of new sites in US, Canada and Oman totaling 160 MW. New digital asset investments incl
Slide 7: Operational Metrics - Q4'24
Operational Metrics - Q4'24 * Earnings call - Q4/FY’2024 7 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 8: Key Highlights - Q4'24 (Normalized)
Key Highlights - Q4'24 (Normalized) Earnings call - Q4/FY’2024 8 Sources: PHOENIX GROUP PLC Internal Data Matrices; *Normalized revenue income and growth margins (actuals are - self mining USD 30.1 MN: hosting USD 4.1 MN: trading USD 15.3 MN)
Slide 9: Balance Sheet Review - Q4'24
Balance Sheet Review - Q4'24 Synopsis TOTAL ASSETS TOTAL EQUITY TOTAL DIGITAL ASSETS (USD MN) (USD MN) (USD MN) 28% 216% 15% Earnings call - Q4/FY’2024 9 Sources: PHOENIX GROUP PLC 2024 audited financial reports
Slide 10: PnL Review - FY'24
SELF MINING REVENUE (USD MN) 1852% PnL Review - FY'24 107 236% 32 5 0 2021 2022 2023 2024 COMPREHENSIVE INCOME TOTAL REVENUE EBITIDA (USD MN) (USD MN) (USD MN) -1% -28% -9% 221 288 209 219 191 206 2023 2024 2023 2024 2023 2024 Earnings call - Q4/FY’2024 10 Sources: PHOENIX GROUP PLC 2024 audited fin
Slide 11: Peer Comparison
Peer Comparison Ranked amongst top 10 bitcoin mining companies based on latest available data. Q4/FY’ 2024 3. Objectives REALIZED HASHRATE OF TOP 10 KEEPING EVERYTHING ELSE CONSTANT WE IMPLIED COST OF MINING 1 BTC EXPECT THE MINING COST TO COME DOWN (USD / BTC – Figures as of Q3,2024 – Post- BITCOIN
Slide 12: Market Overview
Market Overview UAE has emerged as one of the leading crypto economies worldwide Key Drivers Regulatory framework Integration with mainstream Tax haven status Innovation Strategic Partnerships banking In mid-2024, UAE regulatory The UAE has excelled in The UAE’s tax policies have The UAE government
Slide 13: Strategic Direction
Strategic Direction 2025 & beyond Earnings call - Q4/FY’2024 13
Slide 14: Guidance 2025
Guidance* 2025 Sources:*Guidance is based on new finalized contracts. **This includes JV share of the revenue which may be presented differently in the financial statements due to accounting limitations. Excluding JV Earnings call - Q4/FY’2024 14 portion, self mining revenue would be USD 163 M.
Slide 15: Phoenix Story Simplified
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Slide 16: What We Do
What We Do Mining Investments Trading Self Mining Hosting Digital Assets Ventures Phoenix has Phoenix is one of Development, Working closely with 30% stake in M2, exclusive the world’s leading operations, and foundations to 25% in Lyvely and distribution rights in Bitcoin miners, with maintenance of
Slide 17: Exchange Valuation
Exchange Valuation M2 USPs MARKET VALUATION OF PUBLICLY LISTED Abu Dhabi Backed & PRIVATE EXCHANGES Fully regulated by ADGM (USD BN) Targeting institutional & HNWI accounts First ever exchange to be offering tailored white gloved services to clients State of the art technology Versatile range of pro
Slide 18: PHX Valuation
PHX Valuation Digital Assets Mining** Ventures (M2) Ventures (others)* Current valuation (M2M) Asset Book Value Includes tether & others ~USD 441 M ~USD 440 M Expected Valuation in 2025 Expected Valuation in 2025 ~USD 3 - 5 B ~USD 600 M Expected Valuation Valuation in 2025 based Phoenix Share (30%)
Slide 19: Aren't We Undervalued?
~~ PHOENIX v Aren't We A Under valued?
Slide 20: ~~ PHOENIX
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Slide 21: 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 4971 4 323 9120 3412, 34 Floor, Al Maqam Tower, Regus Adgm Square, Al Maryah Island, Abu Dhabi, UAE Dubai, United Arab Emirates (@ Cont
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