Strive is offering $SATS through an IPO available to select investors. - 15% fixed-rate perpetual preferred stock - Cumulative dividends paid every business day - Junior to SATA INVESTOR PRESENTATION TIMESTAMPS 00:00 - Introducing SATS 01:46 - Executive Summary 18:50 - SATS Improves SATA 21:06 - Dividend and Balance Sheet Strength 27:33 - Performance and Liquidity 30:48 - Bitcoin Thesis 40:26 - Amplification and Risk $SATS $ASST $SATA

Strive is turning demand for digital equity ($ASST) and digital credit ($SATA) into demand for Bitcoin. Its hypergrowth shows how the capital markets are accelerating Bitcoin adoption.

When SATA was at 10-20% of STRC volume, we warned that if Saylor continues promoting Strive, we will see SATA volume continue to climb relative to STRC. The reason was not complicated. Saylor has 5.2 million followers. STRC and SATA are majority retail owned products. If Saylor posts about Strive products… Retail will buy Strive products. We asked at what point we should begin to be worried. When SATA is 40% of STRC dollar volume? 50%, maybe? 60%? We didn’t receive an answer. Not only was our question ignored, it was indirectly mocked and condemned. We now see SATA at 71% of STRC organic volume (once we strip out the buybacks). Seventy-one percent. We’ve seen the industry shrink week after week, while being told multiple issuers is essential to grow the industry. Even die hard supporters of management, like Zaid, an influential Canadian analyst, are now admitting they feel some disappointment when they look at the data. We get the coopetition hypothesis (we really do), but does the evidence thus far support it? Did Strategy anticipate the falling STRC volume as we approach par? Did Strategy anticipate that they would need to ramp buy backs as we approach par? If so, why were we told the opposite? Was the plan really to take once step back, to later take two steps forward? How much ground do we need to concede before enough is enough? The definition of insanity is to keep doing the same thing, while expecting a different result. Strategy are expecting volume to pick up once we hit par, despite volume dropping off as we approach par. If we wanted hope, we’d buy Bitcoin. We don’t want hope. We want Strategy.