Evernorth Holdings (XRPN) investor relations material

Company overview and business model

• Purpose-built public-market vehicle for institutional XRP exposure; active treasury management targets stockholder value through XRP acquisition, portfolio strategies, yield generation and geographic expansion.

• Four strategy pillars: efficient XRP acquisition, active asset management, diversified yield across traditional finance and DeFi, and initial expansion into Japan and South Korea.

• Primary KPI is XRP per share; yield per token measures yield-strategy performance. Risk controls emphasize counterparties, position sizing and strategy selection over asset diversification.

• As of October 9, 2026, holdings were approximately 473 million XRP; all XRP was initially held in BitGo custody, with 100% in cold storage as of the prospectus date.

• Material ecosystem deployment was deferred until after core treasury and compliance infrastructure was established; no such material activity was anticipated before Q4 2026.

Financial performance and metrics

• No revenue generated through June 30, 2026; net loss was $188.1 million for H1 2026, mainly from $264.1 million of digital-asset impairment, partly offset by a $77.5 million gain on refundable investor advances.

• At June 30, 2026, assets were $355.4 million, including $348.8 million in digital assets; unrestricted cash was $97,745 and refundable investor advances were $687.1 million.

• XRP is accounted for as an indefinite-lived intangible at historical cost less impairment; the H1 2026 impairment charge was $264.1 million.

• Pro forma combined assets were $425.2 million as of June 30, 2026; pro forma net loss was $269.9 million for H1 2026, including transaction-accounting adjustments.

• Closing proceeds included approximately $272.6 million gross cash and approximately 388.9 million XRP in kind; approximately $48.0 million came from the SPAC trust after redemptions.

Use of proceeds and capital allocation

• Resale proceeds belong to selling securityholders; no proceeds accrue from their sales, apart from cash received if Sponsor Warrants are exercised.

• Full cash exercise of all registered Sponsor Warrants could generate up to approximately $2.8 million; proceeds are intended for general corporate purposes, at management’s discretion.

• Separately, $30.0 million principal of 4.00% Convertible Senior PIK Notes generated approximately $30.0 million net proceeds before expenses, intended for general corporate purposes, including XRP acquisition and ecosystem activities.

• A committed equity facility permits discretionary sales to Cantor of up to 5,218,935 new shares through the first day of the month after its 14-month anniversary; no shares had been sold under it as of the prospectus date.

• Capital raising is intended when considered accretive, generally when the share price trades at a premium to XRP NAV; proceeds may fund additional XRP purchases and operations.