Riot Platforms, Inc. · NASDAQ:RIOT
Riot Platforms — Riot Blockchain — Investor Presentation (December 2022)
23 slides from Riot Platforms's investor presentation, Dec 14, 2022
Slide 1: Investor Presentation
Investor Presentation 1OoT December 14,2022 NASDAQ: RIOT
Slide 2: Forward Looking Statements
Forward Looking Statements ‘Statements in this presentation hat ae not histor facts are fowardooing statements that reek management's current expetabons, assumptions, and estimates of ture performance and economic condtns. Such statements rely o he safe harbor provisions of Secon 27A ofthe Secures A
Slide 3: Riot is the Leading Bitcoin-Driven Infrastructure Platform
Riot (NASDAQ: RIOT) is the Leading Bitcoin-Driven Infrastructure Platform Significant and $280 million betel TES hepa Subaniing scale of Market cap ~115,450 miners at 12.5 EHIS hash rate operations $701 million ful deployment atti deptmert . YI direct cost to {TO gross mining YTD cost of powert# te
Slide 4: Best-in-Class Management Team Driving Value Creation
Best-in-Class Management Team Driving Value Creation 6. © Strong operational benefits from vertically-integrated strategy (2) © Unique power strategy drives low power costs © © Leading hash rate deployment and growth 4) Industry-leading financial strength, with growth plans 1lOT trou yor nd 203 ued
Slide 5: Strong Operational Benefits from Vertically-Integrated Strategy
@ Strong Operational Benefits from Vertically-Integrated Strategy Rockdale Facility Corsicana Facility ESS Metron Largest Bitcoin mining data center in North ‘Second large-scale development located in Critcal provider for Rot’ infastructure ‘America’ with 700 MW of total capacity in Corsicana, Texas
Slide 6: Strong Operational Benefits from Vertically-Integrated Strategy
ci) Strong Operational Benefits from Vertically-Integrated Strategy Miner deployments. Infrastructure development Suppliers Security Industial-ecate mine eet plugged” at an industry-leading, low-cost of power Controle intastructure development timeline matching deployment schedule of ero reliance on
Slide 7: Rockdale Facility: Largest Bitcoin Mining Facility in North America
@ Rockdale Fac! —- Largest Bitcoin Mining Fa: Total 2.2020 3.2020 3.2020 93.2022 Qt 20232 4.2021 2.2022 ity in North America’ 100 MW 100 MW 100 MW 100 MW 100 MW 100 MW 100 MW 700 MW Air-cooled Air-cooled Immersion- cooled Air-cooled Air-cooled Immersion- cooled Immersion- cooled Hosting Self-mining,
Slide 8: Unique Power Strategy Drives Low Power Costs
a Unique Power Strategy Drives Low Power Costs &, ©, Dec-22 Feb23 Apr29 un23 Aug-23 Ock23 Deed 11:00 12:00 13:00 14:00 15:00 16:00 17:00 1800 19:00 20:00 21:0022.00,
Slide 9: Leading Hash Rate Deployment and Growth
) Leading Hash Rate Deployment and Growth 12.5 EH/s self-mining hash rate capacity targeted by Q1 2023 a , + Significant progress eeades mai ‘ongoing on the Rockdale * Ended cosocaton hosing agreement with Colnmins Facity’s 400 MW 120 Massene, New York facility infrastructure expansion (the *Coinmin
Slide 10: Industry-Leading Financial Strength, with Growth Plans Through Year-End 2023 Fully-Funded
6 Industry-Leading Financial Strength, with Growth Plans Through Year- End 2023 Fully-Funded | arn since? Current iquidty Estimated BTC sales? Rockdale Facity Corsicana Facity Year-end 2023, ‘expansion* 400 MW bul-out* total hquity
Slide 11: Technological Leader in Industrial-Scale Immersion-Cooling Infrastructure Build-Out
Technological Leader in Industrial-Scale Immersion-Cooling Infrastructure Build-Out + Rockdale Facility isthe largest known industrial-scale immersion- ‘cooled Bitcoin mining operation + Two fully immersion-cooled buildings (200 MW at the Rockdale Facility have been completed * Initia! 400 MW develo
Slide 12: Key Decision-Making Across Multiple Bitcoin Cycles
Cs } Key Decision-Making Across Multiple Bitcoin Cycles Experienced ‘management team successfully navigated through multiple Bitcoin ‘eles resulting in an industry-leading position arty, large edge ASIC Successfully executed ey strategic acquisitions and ‘ganic initiatives ‘driving growth 120,000" m
Slide 13: Operations Concentrated in Texas, the Most Attractive Jurisdiction for Bitcoin Mining
Operations Concentrated in Texas, the Most Attractive Jurisdiction for Bitcoin Mining Low-cost power and attractive demand-response programs which allow large-scale operators to further reduce total power costs Business-riendly environment supportive of the mining industry makes Texas the leading, m
Slide 14: Operations Concentrated in Texas, the Most Attractive Jurisdiction for Bitcoin Mining
Operations Concentrated in Texas, the Most Attractive Juris: Bitcoin Mining ‘wind and solar generation accounting for ~1/3" of #1 in renewable energy production’ in the US with total energy generation in the ERCOT grid —om eo 10% 2% 17% Wind and solar combines currently make 19% 25% up -3% of ERCOTs
Slide 15: Potential Upside from Increasingly Diversified, Vertically-Integrated Business Model
Potential Upside from Increasingly Diversified, Vertically-integrated Business Model re [=| ry ony en oom
Slide 16: Riot's vision is to be the world's leading Bitcoin-driven infrastructure platform
Riot’s vision is to be the world’s leading Bitcoin-driven infrastructure platform 1oT
Slide 17: Appendix
Appendix
Slide 18: Management Team and Board of Directors
Management Team and Board of Directors Unique, Bitcoin-focused strategic vision “ Veteran public company ' spear onae a << < ld leading infrastructure Sexe chang: Wiliam Jackman olin Yee expansion capabilities Highly experienced independent board of directors
Slide 19: Benefits of Immersion-Cooling
Benefits of Immersion-Cooling hardware, decreasing cleaning and maintenance requirements =, Y& CCleaner operating conditions ~ prevents dust and debris from getting into Improved energy efficiency removal of miner fans decreases energy usage ‘and increases hash rate power Increased hardware asset li
Slide 20: Local Community Engagement
Local Community Engagement (Our mission is to positively impact the sectors, networks and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes. Largest
Slide 21: Non-GAAP Adjusted EBITDA (Unaudited)
Non-GAAP Adjusted EBITDA (Unaudited) (in $ thousands) Netincome fos) Interest come) expense Income tx (benef) expense Deprecaton and amoriation esiroa ‘Slock-based compensation expense Regulation related cots ‘Change nar value of draw asset ‘Charge in a value of ontngent corideration Realzd bes onsa
Slide 22: Non-GAAP Cost of Revenues (Unaudited)
Non-GAAP Cost of Revenues (Unaudited) “Tiree months ended September 30, Nine months ended September 30 (in$ thousands) 2022 ai 2022 2a Minna: Revenue s 22070 § S350 $ 28168. § 106213 ‘Conta teveries usr sae 51768 zee Power catuiont credits 108) e175 a ‘Con of evens, net of power cutaiment resis 8573
Slide 23: Income Statement (Unaudited)
Income Statement (Unaudited) “Tivos months ended September 30, Nine months ended September 30 (in thousands) 2022 Bi 202 2a Revenue not ing s nore $ sass 25168 § 108213 Data Center Hosting 3371 1.195, 27298 14067 roieerng 15824 tapes ‘thar revere 25 25 73 2 ‘Son of even. ing ser 13008 51708 29899 Da
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