SUI Group — Second Quarter 2026 Earnings Summary

Financial Performance

• Total revenue and other income for Q2 2026 reached $1.2 million, an increase from $948 thousand in Q2 2025, driven by SUI staking revenue and digital lending interest income.
• Net loss for Q2 2026 was $18.9 million, or $(0.23) per diluted share, compared to net income of approximately $677 thousand, or $0.11 per diluted share, in Q2 2025.
• The quarter included approximately $16.6 million in non-cash losses on digital assets and receivables, consisting of $18.9 million in realized losses partially offset by a $2.3 million unrealized gain.
• Realized losses included a $14.0 million loss from additional SUI loans to Bluefin and a $2.4 million loss related to the return of SUI tokens from Galaxy Digital.
• Total assets decreased to $97.9 million as of June 30, 2026, from $190.4 million as of December 31, 2025.
• Total shareholders' equity was $83.8 million as of June 30, 2026, down from $169.7 million as of December 31, 2025.
• Cash and cash equivalents were $3.1 million as of June 30, 2026, compared to $21.9 million as of December 31, 2025.
• Deferred income totaled $13.8 million ($11.9 million current, $1.9 million long-term) as of June 30, 2026.

Guidance and Future Outlook

• Management intends to enhance treasury productivity by lending to the ecosystem and strategic partners on a risk-adjusted basis.
• The Company plans to allocate capital to high-conviction growth opportunities across digital assets, financial technology, and artificial intelligence sectors.
• Future strategy focuses on scalable, transparent, and long-term value creation through prudent capital allocation.

Business Segments and Product Lines

• Expanded strategic lending partnership with Bluefin by lending an additional 4 million SUI, bringing the total loaned amount to 6 million SUI.
• Increased revenue share from the Bluefin lending partnership to 11.00% (payable in SUI), up from 5.00% under the original agreement.
• Completed a $3 million SAFE investment in Nof1, a research lab focused on frontier AI models for trading financial markets.
• Completed a $3 million strategic investment in Recursive Superintelligence's $650 million funding round; the company is valued at over $4 billion.
• SUI treasury generated an approximate 1.7% annualized yield during the six-month period ending June 30, 2026, with an estimated daily yield of 5,300 SUI.

Market and Competitive Landscape

• SUI Group is the only publicly traded company with an official Sui Foundation relationship.
• The Company's SUI treasury strategy provides institutional-grade exposure to the SUI blockchain, which is positioned as a leading blockchain for mass adoption in finance, gaming, and AI.
• As of August 3, 2026, the Company held 109,141,243 SUI (including 6,000,000 SUI loan receivables), valued at approximately $75.3 million based on a price of $0.69 per SUI.
• SUI per share increased to 1.35 SUI (vs. 1.34 on May 21, 2026), or $0.93 per share (vs. $1.43 on May 21, 2026).
• The Company trades at an approximate mNAV of 0.72x based on August 3, 2026, closing prices.

Risks and Challenges

• Significant non-cash losses on digital assets and receivables due to mark-to-market adjustments and U.S. GAAP accounting treatments for digital asset re-recognitions.
• Inherent volatility and risks associated with investing in SUI and the potential correlation between the Company's stock price and the price of held digital assets.
• Risks related to minority investments in financial technology and artificial intelligence sectors.
• Risk of nonperformance by borrowers, service providers, and other counterparties.
• Challenges in executing a treasury diversification strategy and limitations of the SUI blockchain.

Management Commentary and Tone

• Marius Barnett, Chairman of the Board, stated the SUI treasury remains the foundation of the strategy, generating consistent SUI-denominated yield through staking.
• Management highlighted the broadening of exposure to agentic finance through investments in Nof1 and Recursive Superintelligence.
• The Company appointed Kristina Campbell, former CFO of Ripple Labs and PayNearMe, as Chair of the Audit Committee to support the strategy with over two decades of experience.
• Management expressed confidence that these initiatives and prudent capital allocation will maximize value through scalable and transparent strategies.

Other Key Points

• The Company's mNAV calculation includes $75.3 million in SUI holdings, $12.9 million in USDC/USDT/SuiUSDe/cash, and $10.1 million in other NAV (including portfolio investments, Nof1, and Recursive AI).
• Total outstanding shares including pre-funded warrants were 80.9 million as of August 3, 2026.
• The Company maintains a specialty finance business alongside its SUI treasury and high-conviction growth strategies.
• A conference call and webcast were scheduled for August 6, 2026, at 5:00 p.m. Eastern time to discuss results.