X0609 4 2026-10-20 0001872195 Bullish BLSH 0001739817 Bonanno David true BULLISH, UNIT B1, THE GROVE TOO ESTERLEY TIBBETTS HIGHWAY GRAND CAYMAN E9 KY1-9006 CAYMAN ISLANDS true CHIEF FINANCIAL OFFICER false Ordinary Shares 2026-10-20 4 J 0 1736976 0 A 1736976 D Incentive Units 0 2026-10-20 4 J 0 1736976 0 D Ordinary Shares 1736976 0 D On October 20, 2026, BMC1, a subsidiary of Bullish, merged with and into BMC3 LLC, a subsidiary of Bullish, as part of an internal reorganization. As consideration in the merger, incentive units of BMC1 held by the Reporting Person were cancelled and converted into 1,736,976 ordinary shares of the Issuer. No cash or other consideration was paid or received. The ordinary shares received by the Reporting Person are subject to time-based vesting and performance conditions. As of the date of this filing, 1,141,146 of the ordinary shares are vested, and the remaining shares remain subject to vesting. Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Securities Exchange Act of 1934 (the "Act"), the reporting person's transactions in the issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act. /s/ David Bonanno 2026-10-22