Avalanche Treasury (AVAT) investor relations material

Executive summary

• Completed business combination with MLAC and began trading publicly on Nasdaq as AVAT on June 11, 2026.

• Operated in a challenging digital asset environment with significant price pressure and capital shifting toward AI and data center infrastructure.

• Focused on accumulating AVAX, deploying treasury, and leveraging institutional adoption and ecosystem integration.

• Announced a $10 million share repurchase plan over the next 12 months to create shareholder value.

• Entered into significant capital raising and AVAX acquisition agreements, including a $216 million Company Unit Subscription and $200 million AVAX token purchase.

Financial highlights

• Reported net loss of $44.7 million ($1.54 per share) for Q2 2026, driven by $60.8 million in AVAX fair value losses and $16.2 million in impairment losses.

• Staking revenue was $1.5 million for Q2 and $3.6 million for the first half of 2026.

• Treasury held 15.3 million AVAX at quarter end, valued at up to $100 million.

• Transaction costs related to the business combination totaled $15.2 million.

• General and administrative expenses were $3.5 million for Q2.

Outlook and guidance

• Plans to continue accumulating AVAX, optimizing staking, and pursuing ecosystem partnerships and infrastructure initiatives.

• Expect continued institutional adoption, global expansion, and new applications built on Avalanche over the next 12 months.

• Sufficient liquidity is expected for at least the next twelve months, supported by cash, digital assets, and new loan facilities.

• Actively evaluating new opportunities to create additional revenue and long-term value.

• Management expects continued volatility in results due to AVAX price fluctuations and evolving digital asset market conditions.