TruGolf (TRUG) Investor presentation summary

Transaction structure and timing

• Proposed CBCA amalgamation of Polymath Research with a subsidiary; the combined business would retain the Nasdaq listing and operate under the existing public-company name.

• Polymath shareholders would receive Class A common stock equal to ~19.9% of pre-close Class A shares outstanding, plus non-voting Series C preferred stock for the balance.

• A $3.0M stated-value financing from existing Series A preferred holders is contemplated concurrent with closing and is contingent.

• Closing was expected in Q3 2026, subject to customary conditions, regulatory and third-party approvals, and listed-securities market-value requirements.

Operating businesses and market position

• Golf technology operations include E6 CONNECT, E6 APEX, APOGEE, TruGolf RANGE and TruGolf Links; stated reach includes 40+ years of innovation and 75M+ player shots captured and analyzed.

• U.S. golf participation reached 47.2M in 2024, versus 30.1M a decade earlier; off-course-only golfers grew 93% from 2019 to 2024, and the driving-range market was $23.3B in 2024.

• Polymath reported $4.2M revenue for 2025 and $21M in total assets, with a software-driven stack spanning issuance, settlement, confidential transactions, treasury and yield.

• Polymath’s platform uses Polymesh, a purpose-built Layer-1 blockchain, with identity and compliance built into its infrastructure.

Tokenization traction and opportunity

• As of Dec. 31, 2025, metrics included $132M+ in assets issued, 65+ active issuers, 50+ ecosystem partners and live Confidential Assets on Polymesh mainnet.

• Identified backlog was stated at >$1B expected to convert within 12 months; the presentation cautions that backlog is not guaranteed revenue.

• Potential securitized-asset opportunities were estimated at $2.1B across real estate, energy, mining, entertainment, technology, private companies and financial institutions; pipeline is not guaranteed revenue.

• The presentation cited $400T+ in global financial assets as the addressable base for tokenization and showed illustrative third-party estimates for tokenized real-world assets rising from $0.6T in 2025 to $18.9T in 2033.

• Polymath’s differentiation centers on owning its blockchain rails, protocol-level compliance, zero-knowledge privacy and a backlog led by real estate and other hard assets.