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Livestream tomorrow with @asjwebley @Croesus_BTC @the_desert_ape discussing: • Bitcoin purchases & other recent announcements • Smarter Web's views on leverage/amplification • All things @smarterwebuk Time: 3pm UK Date: Thurs, 30 April Any questions for us to cover?

Livestream tomorrow with @asjwebley @Croesus_BTC @the_desert_ape discussing: • Bitcoin purchases & other recent announcements • Smarter Web's views on leverage/amplification • All things @smarterwebuk Time: 3pm UK Date: Thurs, 30 April Any questions for us to cover?

35 days until the June FTSE rebalancing. Not one, not two but three gifts from @asjwebley and the @smarterwebuk team today! 1) A huge gesture giving all entrants to the Bitcoin Treasuries Unconference ticket raffle hosted by SWC and @btcdigitalconf on May 29th a free ticket. Yet another display of great leadership. 2) More orange dots on the way! Keep eyes peeled for tomorrow’s RNS 7am crew 👀 3) The Long Term Incentive Plan (LTIP) targets for directors and employees released in this morning’s RNS lays out 10 key milestones for share price and market cap. I’d like to focus tonight’s update on some simple modelling looking at the next 10 years ahead… 🟧 SWC LTIP milestones x median Power Law BTC Inputs: starting SP £0.37 | mNAV = 1.0 | GBP/USD = 1.30 Median Power Law fair value (USD / GBP): • 2026: $145K / £112K • 2027: $199K / £153K • 2028: $270K / £208K • 2029: $360K / £277K • 2030: $473K / £364K • 2031: $614K / £472K • 2032: $789K / £607K • 2033: $1.00M / £771K • 2034: $1.26M / £969K • 2035: $1.57M / £1.21M • 2036: $1.94M / £1.50M LTIP targets: £5 / £7 / £10 / £13 / £17 / £21 / £25 / £30 / £35 / £40 First let’s assume ZERO Bitcoin purchases and ZERO yield I.e. share price growth 100% driven by Bitcoin price alone: 🟥 0% BTC yield (sats/share flat) • SP path: £0.37 → 2030 £1.21 → 2033 £2.56 → 2036 £4.96 • Milestones hit by 2036: none (BTC price alone is not enough but £5 misses by a hair in 2036) Next let’s assume a highly conservative 10% annualised Bitcoin yield: 🟨 10%/yr BTC yield • £5: 2034 • £7: 2035 • £10: 2036 • £13–£40: beyond 2036 (3 of 10 milestones hit) Now 20%: 🟧 20%/yr BTC yield • £5: 2032 • £7: 2033 • £10 + £13: 2034 • £17: 2035 • £21 + £25 + £30: 2036 • £35, £40: beyond 2036 (8 of 10 milestones hit by 2036) 🟩 Tapered BTC yield: 100%/50%/40%/30%/20% terminal: • £5: 2030 • £7 + £10: 2031 • £13: 2032 • £17 + £21: 2033 • £25 + £30 + £35: 2034 • £40: 2035 (All 10 hit by 2035 — SP path: £0.37 → £6.59 → £24 → £54 → £81) These are basic and arguably extremely conservative models but it’s helpful to look at basic models for comparative purposes. Whilst the LTIP certainly isn’t forward guidance from the company the 10 milestones against the 10 year plan a £40 share price and a 100 x over the course of the next decade is highly achievable. For those that have studied the maths and the potential the model brings, when matched against the power law Bitcoin price (which may well be conservative itself) and the impact of a perpetual preferred product in the mix may come to the conclusion that it’s also very possible these targets may be hit significantly quicker. The destination remains as clear as ever even if the precise timings for the milestones may be harder to predict. Either way, huge asymmetry remains. As always, NFA. And there’s only one thing left to say… Onwards! 🚀

Ranking BTCTC YTD Growth of $1 4/29/26 Update: BTC -13% Smarter Web 🇬🇧 14% Strategy 🇺🇸 5% Strive 🇺🇸 -4% Others range from -8% to -51% #1 $TSWCF ↔️ #2 $MSTR ↔️ #3 $ASST ↔️ #4 $BTCT ↔️ #5 $XXI 🔼1️⃣ #6 $ALCPB 🔽1️⃣ #7 $MTPLF ↔️ #8 $ABTC ↔️ #9 $BRR 🔼1️⃣ #10 $NAKA 🔽1️⃣

Ranking BTCTC YTD Growth of $1 4/22/26 Update: No change in the rankings, but the top 4 ( $TSWCF, $MSTR, $ASST, $BTCT ) are improving YTD, while others are losing ground. BTC -10% Smarter Web 🇬🇧 26% Strategy 🇺🇸 17% Strive 🇺🇸 13% Others range from 3% to -44% #1 $TSWCF ↔️ #2 $MSTR ↔️ #3 $ASST ↔️ #4 $BTCT ↔️ #5 $ALCPB ↔️ #6 $XXI ↔️ #7 $MTPLF ↔️ #8 $ABTC ↔️ #9 $NAKA ↔️ #10 $BRR ↔️

Just wanted to say how great it is to see all the positive, supportive messages following our most recent Bitcoin purchase RNS this morning. Nothing makes us happier than being able to give more orange to our shareholders. It’s also positive to see the constructive response to our decision to introduce responsible leverage, based on investor feedback and the current market environment. Myself, @asjwebley and @Croesus_BTC are finalising a time for a live Spaces tomorrow where we’ll run through everything from the past couple of weeks - our 1 year anniversary, recent Bitcoin purchases, research coverage, the current market backdrop and our latest thinking on the evolution of Bitcoin treasury companies. Cheers.

Keynote: Michael Saylor | Bitcoin 2026 youtu.be/_Y8HAqAYMhE?si… via @YouTube

JUST IN: Metaplanet's @DylanLeClair just said that "99% of big pools of trillions of dollars of capital in the world can't buy #Bitcoin." "Michael Saylor realized this from 2020 onward and started creating instruments for each of those pools. I think $STRC is the golden goose." "This is what BTC winning looks like" 🔥🚀