The Smarter Web Company (SWC) Trading update summary

Bitcoin treasury and acquisition update

• Acquired 11.89 Bitcoin at an average price of £47,052 per Bitcoin, totaling £559,493.

• Total Bitcoin holdings now stand at 2,712, with a net average purchase price of £82,886 per Bitcoin.

• Quarter-to-date BTC Yield is -4.80%, reflecting recent performance of the treasury strategy.

• Gross Bitcoin purchases have reached £233.5 million, with net purchases at £224.8 million after sales.

Credit facility and financial arrangements

• Coinbase credit facility remains drawn at £18.5 million, with a leverage ratio of 17%.

• Facility terms improved: interest rate reduced to 6% (from 6.75–7.25%), secured against Bitcoin holdings, and repayable at discretion.

Subscription agreement and warrant exercise

• Placed 3,300,000 ordinary shares, raising gross proceeds of £1,016,250 at approximately £0.31 per share.

• 2,875,000 warrants exercised at £0.025 per share, generating £71,875 in gross proceeds.

• 32,428,732 warrants remain outstanding, with significant holdings by the CEO and directors.