Issued and fully paid - Ordinary shares

As of December 31, 2024 (post-Reverse Stock Split)

113,215

$

3,821,537

Conversion of Class B Preference shares

2,736

66,278

Conversion of Bullish Global shares

233

8,622

Issuance of Ordinary shares in connection with initial public offering during the period

34,500

1,209,194

Exercise of options

115

3,087

Restricted Stock Units vested and converted to Ordinary shares

35

1,345

As of December 31, 2025

150,834

$

5,110,063