Gamesquare Holdings, Inc. · NASDAQ:GAME
Gamesquare — GameSquare's Treasury Management Strategy Conference Call (July 2025)
30 slides from Gamesquare's conference presentation, Jul 29, 2025
Slide 1: Dialectic SPC - Limited Partner Presentation
C5 e . . CONFIDENTIAL Os Cone = P e . Dialectic SPC - Limited Partner Presentation ee ° e e eo 6 © 0° e e@ @e® e “%: e ee 7 % ee 2025
Slide 2: Disclaimer
DISCLAIMER This presentation is provided for information purposes only and should not be considered as an offer to These risk factors are not intended to represent a complete list of the factors that could affect GameSquare, which are purchase or a recommendation to purchase, sell or hold any securi
Slide 3: Automated Yielding with Medici
AUTOMATED YIELDING WITH MEDIC! The Medici software suite enables superior automated yielding and the best risk-adjusted USD, ETH and BTC compounding. CHRONOGRAPH USD Yielding Market-neutral, high-yield enhanced by systematic tisk frameworks and automation Target 2025 Net Return: 15-25% APY MOONPHASE
Slide 4: Differentiated Alpha in DeFi
DIFFERENTIATED ALPHA IN DEFI In an efficient market there will be no incremental return that is not related to (and compensatory for) incremental risk. The Most Important Thing, Howard Marks DeFi is not an efficient market, it is still highly inaccessible and complex. There is a relatively small num
Slide 5: Where the Yields Come From
WHERE THE YIELDS COME FROM I Chronograph 1 Moonphase sbal lH us ioy ™ CESAR i Calatrava 1H BTC Inflation Jen2024Feb-2024 Mar-2024 Ap-2024Way-2024 Jun-202 wi-2024 Alg-2024 Sep-2024 O&2024 Nov2028 Dec-2024 Representative Diversification - Chronograph Chain Allocation Protocol Exposure base 8% eth ss a
Slide 6: Our Yielding Edge: Investment Process
Our Yielding Edge INVESTMENT PROCESS Pre-Deployment a Me Post-Deployment I Manual process L Automated process Identify farms and measure Fund Reportin yielding opportunities ° ° Scouting Positions are compounded to Compounding maximize portfolio return. Review code, team /conduct Due Dilligence _ pr
Slide 7: Scouting: Finding On-Chain Yield
Scouting FINDING ON-CHAIN YIELD Our software monitors real-time activity of leading yield farmers and their deployments along with thousands of other data points. We collect position data, analyze returns, and integrate these insights with our proprietary risk scoring system. This process generates
Slide 8: Risk Scoring: Breaking Down Risk
Risk Scoring 3SREAKING DOWN RISK DeFi strategies involve various interconnected risk factors. To manage portfolio risk holistically, each pool component needs to be assessed and quantified individually and in relation to other pools. 01 Chain risk What chain is the liquidity pool on? 02 Bridge risk
Slide 9: Risk Scoring
Risk Scoring NESULA ath | @ * Granular risk scoring enables us to + We can recombine scores to represent any DeFi deployment automatically assess DeFi protocols as a graph with dependencies. at scale while accounting for potential cross-contamination. 2025
Slide 10: Our Yielding Edge
Our Yielding Edge MEDICI Efficient execution capabilities Advanced monitoring 2025
Slide 11: Monitoring: Proactive Exploit Mitigation
Monitoring PROACTIVE EXPLOIT MITIGATION One of Medici’s modules leverages Al-driven analytics to predict exploits. The engine continously analyses on-chain transactions and contract deployments. lt can detect with high accuracy when a protocol is at risk of getting exploited. Based on these alerts,
Slide 12: Fund Portfolio Cover
FUND PORTFOLIO COVER Nexus * Mutual Nexus Mutual underwrites fund 1e-cc + Total AUM covered always exceeds the for Chronograph and Moonphase sin highest single position at risk. Dialectic LPs gain protection from:sm: hacks and exploits - the primary fi DeFi yielding. f / | - Below-market rates on in
Slide 13: Layers of Protection
LAYERS OF wy itil PROTECTION Insurance ays - Automation Diversification ~~-~——+ Due Diligence Understanding and Optimising portfolio Real-time proactive and Covering outlier and scoring the specific risks allocation to minimise reactive automation suite black swan events of each pool concentration r
Slide 14: Private Liquidity Deals
PRIVATE LIQUIDITY DEALS Consistent, long-term capital deployments to achieve higher, more stable returns. Deal partners include AMMs, routers, Li/L2 blockchains, bridges etc. We expect significant growth of private deals in 2025, fueled by enhanced deal flow and refined closing processes aggregating
Slide 15: Team
TEAM Ryan Zurrer Founder One of the top performing venture investors of the last decade. Seed investor in Ethereum, MakerDAO, Filecoin, Cosmos, Rari Capital, Dfinity, Avalanche, Solana, Near, and many others. Day 1 liquidity provider in Curve, Synthetix, Axie Infinity, YGG, and many other leading De
Slide 16: Dieter Fishbein, CFA and team
Dieter Fishbein, CFA Partner Builder, investor, and cryotographer. Currently serving as CCO at Anoma (Heliax AG), previously led business develapment at Polkadot (Web8 Foundation), and held roles at leading Canadian investment firms, including managing a CAD 108 pension and endowment fund Cristina M
Slide 17: Crypto-Native Custody
CRYPTO-NATIVE CUSTODY Assets are custodied using two separate platforms *. Safe Battle-Tested security Previously known as Gnosis Safe, Safe, is the most trusted decentralized custody protocol on Ethereum and EVM platforms WY Fireblocks Security-focused MPC Platform Fireblocks Wallet-as-a-Service is
Slide 18: Service Providers
SERVICE PROVIDERS en HARNEYS Mit SB Fund Admin & KYC NAV vt, PROVENANCE Auditor e GrantThornton Banc of Banking < iS) Y G iN 0} M O California Custody & Security BQ Fireblocks “, Safe QOutila Dialectic Resonance SPC, a Cayman Islands segregated portfolio company incorporated with limited liability,
Slide 19: Fund Terms
FUND TERMS Chronograph Moonphase Calatrava Investment Strategy Automated Market Neutral Yield Generation Automated ETH-Denominated Yield Generation Automated BTC -Denominated Yield Generation Min. LP Subscription USD 500k 300 ETH 10 BTC Subscriptions Monthly Monthly Monthly Initial Lock-Up None None
Slide 20: Appendix: Historical Performance
APPENDIX Historical Performance
Slide 21: Accelerating our compounding: Chronograph
Accelerating our compounding CHRONOGRAPH 2024 «=. 2023 2025 wo 80 Gross Net Gross 0.61% 0.78% 1.28% 159% 144% 193% ‘Projected year-end flaures are based on annualzing realized year-to-date (YTD) performance. 073% 165% 249% 045% -0:12% -0.01% 0.21% 045% 0.33% -0.30% 0.67% 736% 0.90% 1.88% 274% 064% 0
Slide 22: Accelerating our compounding: Moonphase
Accelerating our compounding ‘Composite Ether Staking | Eoy' g Net 455% 4.55% BE Gross 470% 470% Bay Net 046% 0.98% 463% 1.28% 076% 1.26% 0.22% 042% 047% 077% 0.50% 0.91% 10.04% 10.04% BI Gross Piece 117% 1.88% 178% 1.06% 166% 0.43% 069% 075% 118% 0.80% 1.24% 14.02% 44.02% Sy Net 0.58% 0.49%" 4.08%"
Slide 23: Accelerating our compounding: Calatrava
Accelerating our compounding CALATRAVA “Piojected year-end fiquees ae bazed on annualizing realized year-to-date (YTD) performance EOyY" x Net 0.35% 0.24% 156% 3.78% a ae Gross 0.52% 045% 243% 5.94% g Net 0,24%* 0.37%* 0.61%* 374% a _ Gross 047%* O0.65%* 112%" 6.93% a eee « Ae 7S = =a : WE
Slide 24: Disclaimer
DISCLAIMER ‘These materials are not an offer to sell, or the solicitation of an offer to purchase, any security, or any of the businesses or assets described herein or an offer or recommendation to enter into ary transection described herein, the offer and/or sale of which can only bbe mace by defin
Slide 25: Stewards of Iconic 21st Century Art
STEWARDS OF ICONIC | 21°’ CENTURY ART
Slide 26: Architecture
ARCHITECTURE Redefining digital native collecting Mission 1OF1 collects, contextualizes and compounds on iconic art works of our time. Thesis The most valuable artistic beacons of our time are digital and evolve like a river in time. The digital age offers new possibilities for collectors, but deman
Slide 27: 2025
2025
Slide 28: Cryptopunks
Cryptopunks Crypto Punks are the Warhol silk screens of our time and absolutely necessary for contemporary institutional collections. O 120 Ryan Zurrer @ © In the future, it wil be as vital for contemporary art institutions to have Crypto Punks in their collections as it is to have Warhols today. |l
Slide 29: Cash-flow model ensures sustainable growth
Cash-flow model ensures sustainable growth. Yielding Revenues are re-introduced into the collection through acquisitions, value-driving collaborations and a regular dividend. 300 200 = | 1 ‘1 Y2 Y3 ya Y5 Ye ca Ye yg Yio NAV fl Net Revenues Yielding Costs
Slide 30: Thank You
Thank You 2025
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