Metaplanet (3350) Investor Presentation summary

Strategic vision and targets

• Aims to accumulate 21,000 BTC by end of 2026, representing 1/1000th of all Bitcoin in existence.

• 2025 target is to acquire 10,000 BTC, with phased capital raises to fund purchases.

• Leverages capital markets, including Asia's largest public equity raise for Bitcoin, to grow BTC per share.

• 21 million shares to be issued via moving strike warrants, targeting approximately ¥116 billion in proceeds.

• Incremental share issuance aims to minimize market impact and maximize shareholder value.

2024 performance highlights

• Ranked #1 globally among 55,000 public companies for 2024 performance.

• Accumulated 1,762 BTC since adopting the Bitcoin Standard in April 2024.

• Raised ¥22.8 billion for Bitcoin purchases and saw a 7,000% increase in market cap.

• Trading volume reached ¥822 billion, a 430x year-over-year increase.

• Shareholder base grew by 500% to 50,000.

Capital structure and financing

• Authorized shares increased to 145 million, with ~49 million fully diluted shares outstanding as of early 2025.

• Moving strike warrants allow for flexible, market-priced equity financing with no discount.

• Previous capital raise completed in 11 trading days, raising ¥9.5 billion and buying 619 BTC.

• Capital markets toolkit includes bonds, rights issues, and convertible instruments.