Strive Asset Management (ASST) Investor presentation summary

SATS terms and positioning

• Proposed 15.00% Series A perpetual preferred with a $100 stated amount and cumulative dividends at 15% p.a.; dividends payable each business day in cash when declared, starting Nov. 9, 2026.

• Ranks junior to SATA and senior to common stock; the presentation illustrates a $500M SATS issuance as an additional capital layer beneath SATA.

• Unlike SATA’s variable dividend and $99–$101 target range, SATS has a fixed 15% rate and no target trading range.

• Proposed terms include no common-stock voting rights, a lifetime non-call feature subject to specified exceptions, and an intended reserve equal to 18 months of dividends.

SATA coverage and dividend resilience

• With $500M of SATS, illustrative assets per $1 of SATA notional rise from 2.18x to 2.54x; combined SATA and SATS coverage is 1.87x, using Oct. 9, 2026 holdings and Bitcoin at $82,500.

• In the same illustration, Bitcoin could decline 61% before assets fall to SATA notional, versus 70% for SATA alone; SATS itself reaches that threshold after a 54% decline.

• Pro forma assets are $3.56B against $1.90B of preferred equity and $257M of annual dividends; the 18-month reserve is $386M, with 378 business days of dividends in reserve.

• At Bitcoin’s $66,000 200-week average, the $500M SATS scenario shows about 11 years of dividends covered by Bitcoin and cash/marketable securities, with no new capital or Bitcoin recovery assumed.

• Pro forma Bitcoin alone covers 12 years of SATA and SATS dividends before returns; a 50% Bitcoin return scenario equates to 6.0x of one year’s dividends.

Amplification and capital allocation

• Amplification was 52% on Oct. 9, 2026, versus 59% before warrant exercises; management’s stated objective is to increase and maintain it above 60% while Bitcoin remains below $100,000.

• SATS proceeds are presented as a tool to rebuild amplification; the post-issuance aspiration is 60%–70%.

• The illustrative $500M raise allocates $112.5M to an 18-month SATS dividend reserve and $387.5M to Bitcoin purchases, before potential fees or discounts.