Phoenix Group Plc · ADX:PHX
Phoenix — Q2 2026 Earnings Presentation
15 slides from Phoenix's earnings presentation, Jul 22, 2026
Slide 1: Q2 2026 Earnings Call
AnlHC Q2 2026 EARNINGS CALL ~ eeeeee eoeree eoerees eeeeereeee
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation is for background purposes only and does not purport to relating to Phoenix Group associated companies, whether written, oral or in a visual or electronic form, be full or complete. No reliance may or should be placed by any person for any pu
Slide 3: Table of Content
Phoenix’s AI Evolution 03 Business Performance 05 Operational Metrics 07 Balance Sheet Review 09 PnL Review 10 Optimization Initiatives 11 The Lyon Project 12 Table of Content Earnings call - Q2/2026 03
Slide 4: Munaf Ali and Sheharyar Malhi
Mr. Munaf Ali Mr. Sheharyar Malhi Board Member, Co-founder & CEO CFO Earnings call - Q2/2026 04
Slide 5: Leading AI & HPC Infrastructure at Global Scale
Leading AI & HPC Infrastructure at Global Scale From pioneering digital asset infrastructure to becoming a leading provider of AI and HPC infrastructure at global scale. 1GW+ 300MW 50%+ World-class Self-sustaining team mining Growth pipeline IT-load colocation Of capacity offered Of AI leaders Optim
Slide 6: The Strategic Transformation
The Strategic Transformation From pioneering digital asset infrastructure to becoming a leading provider of AI and HPC infrastructure at global scale. 2017 – 2024 FOUNDATIONS 2025 – 2028 FUTURE Mining Leadership The AI & HPC Pivot Pioneered large-scale digital asset Transitioning physical site capac
Slide 7: Business Performance - Q2'26
Business Performance - Q2'26 Project Lyon, Phoenix's first AI data centre development, has reached a key structural milestone, with the required corporate entities now established across France and Luxembourg to support the project. Grid connection for the site has been secured, with remaining permi
Slide 8: Business Performance - Q2'26
Business Performance - Q2'26 MINING EFFICIENCY Mining efficiency improved further to 18.81 J/TH in Q2'26, down 4% from 19.53 J/TH in Q1'26, reflecting ongoing enhancements in fleet performance and infrastructure optimization. 18.81 J/TH ▲ 4% QOQ Self-mining gross margin remained strong at 43% in Q2'
Slide 9: Operational Metrics - Q2'26
Operational Metrics - Q2'26 OVERALL BUSINESS HASHING SHARE IN THE NETWORK CURRENT POWER CONSUMPTION 1.4% BTC MINING PER DAY ~296.66MW MINING EFFICIENCY 3.90 POWER COST PER KWH² 22.84MW/EHs 0.0472 cent JV INVESTMENTS MINING HOSTING HASH RATE HASH RATE HASH RATE 5.65 EHs 1.77 EHs 5.57 EHs HASHING SHAR
Slide 10: Operational Metrics - Q2'26
Operational Metrics - Q2'26 REVENUE & INCOME MARGINS EFFICIENCY GROSS REVENUE BLENDED GROSS MARGIN USD 19.01 MN 38% HASH RATE 13 EH/s SELF MINING SELF MINING USD 14.69 MN 43% GLOBAL HASH RATE CONTRIBUTION 1.4% HOSTING HOSTING USD 4.31 MN 21% Earnings call - Q2/2026 10 Sources: PHOENIX GROUP PLC Inte
Slide 11: Balance Sheet Review - Q2' 2026
Balance Sheet Review - Q2' 2026 TOTAL ASSETS TOTAL DIGITAL ASSETS TOTAL EQUITY (USD MN) (USD MN) (USD MN) YoY: -24.2% YoY: -26.0% YoY: -33.1% QoQ: -3% QoQ: -2% 781.5 QoQ: -13% 731.8 295.4 608.6 552.3 228.1 592.6 197.5 541.9 Q2:25 Q1:26 Q2:26 Q2:25 Q1:26 Q2:26 Q2:25 Q1:26 Q2:26 Total assets decreased
Slide 12: PnL Review - Q2' 2026
PnL Review - Q2' 2026 TOTAL REVENUE ADJUSTED EBITDA COMPREHENSIVE INCOME (USD MN) (USD MN) (USD MN) YoY: -46.4% YoY: -34.7% YoY: -176.1% QoQ: -87.7% QoQ: -121.7% -18.7 -81.2 -10.0 QoQ: -18.4% 29.1 23.3 19.0 0.35 1.24 -0.27 Q2:25 Q1:26 Q2:26 Q2:25 Q1:26 Q2:26 Q2:25 Q1:26 Q2:26 Gross revenue for the q
Slide 13: Optimization Initiatives Paying Off
Optimization Initiatives Paying Off SELF MINING GROSS MARGIN MINING EFFICIENCY (J/TH) AVG POWER PRICE ($/KWH) 50% 24 0.06 46.0% 23.08 0.05 0.052 0.052 42.0% 42.0% 43.0% 21.96 40% 22 0.049 0.046 0.047 0.04 30% 31.2% 20.56 19.53 20 0.03 20% 18.81 18 0.02 10% 0.01 16 0% Q2, 2025 Q3, 2025 Q4, 2025 Q1, 2
Slide 14: The 18MW Lyon AI Project
The 18MW Lyon AI Project 18MW Lyon, France Q3, 2026 Phoenix, in partnership with DC Max, is building our first European AI-ready data Phase 1 Capacity Strategic Location Construction Start center in Lyon, France. With secured land, grid connection and construction set to begin in Q3, 2026, this proj
Slide 15: Investor relations
Investor relations Ir@phoenixgroupuae.com Abu Dhabi, United Arab Emirates 3612, 34 Floor, Al Maqam Tower, Regus Adam +971 4 323 9120 Square, Al Maryah Island, Abu Dhabi, UAE @phoenixgroupuae Dubai, United Arab Emirates @phoenixgroupuae Office 2901, Floor 29, Boulevard Plaza Tower 2, Burj +971 4 323