Norwegian Block Exchange AS

Investor Presentation • Apr 10, 2024

nbx.com

NBX is a trusted gateway for investments in digital assets

"We believe customer confidence and easy access to products is key to future growth"

Making investments in crypto, blockchains and web 3, more accessible to the common investor

The Board of Directors

Nils Kristian Sundling - Chairman

Nils Sundling, board member Nils Sundling has a background from the bank and financial sector in Norway. He has had a multitude of leading position in banks and financial institutions. Sundling was, at the turn of the millennium, responsible for setting up the first internet bank in Norway, NOR 24. He has been CEO in the British consultancy company C3, which was involved in the establishment of several internet banks in Norway. For the last 15 years, Nils Sundling has been an investor and founder, and has amongst other things, headed the BPO company Runway, and is the founder of the dentist chain "Tannfeen". He has been a board member of Webhelp Nordic, Scandinavian House, Runway and Tannfeen Norge, and is presently board member of Norwegian Block Exchange and Ideco Group.

Asbjørn Abrahamsen - Member

Seriegründer med 40 års erfaring i mange ulike aksjeselskaper og bransjer, inklusive finans. Erfaring fra alle faser av selskapsutvikling, også med salg av selskaper til langsiktige eiere. Grunnlegger av AC Nor gruppen ASA, etablert i 1989. Et selskap som omsatte for 3,5 milliarder og leverte boliger og næringseiendom til mer enn 2000 selskaper. Abrahamsen er investor i mange ulike selskaper i Norge og USA, inkludert en eierpost i Norwegian Block Exchange AS.

Anne Helene Kjos-Mathisen - Member

Anna Helene Kjos-Mathisen represents the second largest owner of NBX through Nye KM Aviatrix Invest AS, and through personal ownership. Anna has more than 12 years of experience in commercial aviation, both as a pilot and as responsible for the recruitment of crew at Norwegian and CEO of a private jet company.

Bjørn Kjos - Member

Founder of Norwegian Air Shuttle and CEO from 2002 until 2019 in which period the airline grew from a few airplanes to become Europe's third and the world's fifth largest low-cost carrier operating around 170 aircrafts. Bjørn Kjos is also co-founder of Bank Norwegian which purpose was to facilitate the airlines loyalty program, the bank is currently worth about 1.8 billion USD. Before becoming the CEO of Norwegian Air Shuttle Bjørn Kjos worked as a lawyer admitted to the Supreme Court of Norway.

Rony Solaiman - Member

Rony Solaiman is the founder of PLAY Capital, a crypto and software-focused venture builder. Since 2010 Rony has served as a lawyer and general counsel in various law firms and investment funds specializing in technology and finance. Rony holds a Master of Laws from the University of Oslo.

Vahid Toosi - Member

Vahid Toosi is a serial entrepreneur with experience in retail and product development. He has started several companies in the blockchain sector and therefore has first-hand knowledge and understanding of the industry and its potential for society.

Company Structure

Organisation

NBX at a glance

18 Employees main locations are Norway and Latvia
Publicly listed on Euronext Growth Oslo
Regulated Virtual Asset Service Provider in Norway (ready for MICA)
Granted eMoney licence from the Norwegian FSA
2.3 BNOK in trade volume since start in 2020
Ranked 4th at hoptrails anti-money laundering and terroist financing risk board in 2023
Launched the first credit card with crypto cashback in the Nordics

Status

• The Company have started paid marketing activities, after a pause of more than a year in active advertisements

• Growth within all business pillars with increasing revenues.
• Shifting focus from cost reduction to controlled growth and scaling
• Activation of the E-money license in January 2024
• Commission on trading and OTC are still main source of revenue
• Tokenization of RWA and the Credit Card are promising when comes to revenues. NBX expected those to contribute significantly in the second half of 2024.
• ambition to become a significant European player within Crypto-finance.

• NBX is exploring further strategic alternatives when it comes to consolidation, partnerships and ventures, with

Status - The NBX share

• Raised 12.6 MNOK in February. (10.5MNOK in equity, 2 MNOK in convertible debt)
• Conversion of 28 MNOK of debt
• 20.5MNOK in outstanding convertible debt after EGA (Strike 0.6 NOK 8% APY)
• 134,629,768 Total number of outstanding shares after issuance of new share
• Subsequent offering (reparasjonsemisjon) of NOK 4,200,000 shares at 0.6 NOK.
• 138,829,768 Total number of shares after Subsequent offering

• The Subsequent offering main points:

  • prospectus filing, registration or similar action, will receive subscription rights.
  • Shareholders will receive non-tradeable subscription rights pro-rate their shareholding on 4

  • Last day including right to receive subscription rights: 4 March 2024

• Shareholders that were not allocated shares in the private placement and are not resident in jurisdictions where such offering would be unlawful, or would (in jurisdictions other than Norway) require any

th of March 2024.

• Shareholders are allowed to over-subscribe and may if available be allocated more than subscription rights.

The market we operate in & marketing efforts

NBX marketing efforts

• A heavy focus on S.E.O continues to spur organic trade volume and user growth.
• In talks with the major voices in crypto
• Several collaborations.
• Card campaign with Schibsted & more to come.

The market situation & crypto cycle

• Bitcoin Halving. As demand continues to increase, supply is halved. Historically, this event marks a fundamental shift, leading to a bull market.
• Spot Bitcoin ETFs. Institutional giants (i.e. BlackRock, Fidelity) have begun acquiring BTC at a massive pace, thus leading to a shortage.
• Worldwide users of crypto grew by 34 % in 2023, totaling 580 million.
• The newest buzzword: RWA

Since 2021, we have operated in a bear market. Now, finally, the market is full steam ahead.

Crypto Compliance Center

24h on call back- and front-office crypto compliance-as-a-services for financial institutions.

Savings

Opportunity to invest and save in alternative asset classes through staking and tokens. Passive Income

Credit card

First credit card with Bitcoin cashback in the Nordics

Tokenization

Make new asset classes available for investment

Custody

Insured storage of digital investment assets both for retail and tailored for institutional clients

OTC

Trading with personalized service for larger transactions

Trading

Trading in digital assets with ease, or through advanced trading options. Also open to buy with Vipps, or card solutions

Marketplace

Fiat currencies: Norsk Krone (NOK) Euro (EUR) Svensk Krone (SEK) Dansk Krone (DKK)

Fiat on/off-ramps Neonomics openbanking SEPA Bank transfer Stripe (Payments)

Digital assets: Bitcoin (BTC) Ethereum (ETH) Cardano (ADA) Ripple (XRP) USDcoin (USDC) Chainlink (Link) Matic (Matic) Uniswap (UNI) Doge (DOGE) Litecoin (LTC) Stellar (XLM) Cosmos (Atom)

nbx.com

Trading

Status

• The only Scandinavian exchange with NOK, SEK, DKK and EUR trading pairs.
• In process of changing from Adyen to Stripe as payment processor.
• Launching Stellar and Cosmos the next days
• Adding 3 4 more crypto currencies in Q2

Milestones / Goals

• Daily trading in EUR, SEK and DKK pair
• Improved UI on trading platform
• Local bank account for customer deposits in Sweden and Denmark.

Platform trading

• 89.000 Platform users
• 36.000 KYC verified users
• 80%-20% split male-female

• European customer base
• 62% Norwegians
• High potential for international growth within existing customer base

Customers

• Create the token ecosystem
• Advice, implement and oversee the governance rules for the token economy.
• Custody Wallet structure in app and for the partners and affiliates of the bonus ecosystem
• Regulated market places for the token
• On-ramp / off-ramp fiat money
• In short: all licenses to compliantly launch a token economy for any company

Building a token-ecosystem

Staking service

Staking as a service

During 2023 NBX offered staking as a service to Iagon on the Cardano blockchain,

and we are looking into offering staking as a service again to other NBX customers in the future.

Goals / Milestones

• Add 3 Staking as a service customer by EOY.
• Platform staking for customers with
  • Ethereum
  • Cosmos
  • Polkadot

  • Solana

- Avalanche Custodial staking

NBX supports custodial staking for customers through our custodial solutions. This includes staking Cardano, Ethereum, Polkadot, Solana and Tezos.

6 8 " "
×
ake
ADA జ 3 %
AVAILABLE BALANCE
ADA 3215.3
STAKED BALANCE
ADA 288.700763
CONFIRMED REWARDS
ADA 0.4114089
EXPECTED REWARDS
ADA 0.4114089
Claim
Unstake
Stake
aking Activity

• Launched Q3 2023 in Norway
• First of its kind globally with BTC reward based on trading volume and referral
• 0.5% 4% Cashback in BTC on card purchases.
• Sweden, Denmark, and Finland will follow
• Tier incentive program trading and referral

The NBX Credit Card

Status

• Increase from 20.000 to 50.000 NOK in credit limit at end of February • Card program break-even at 5.000 cardholders
• Interest bearing debt up 68% from February to March
• Passed 1100 cardholders
• Google Pay launched
• Positive feedback from users

Milestones

• Apple Pay launch in Q2
• Launch Sweden + 1 in Q3
• 10.000 cardholders end of year
• Add more crypto cashback options

The NBX Credit Card

Monthly Card Spendings

Institutional Custody as a service

Institutional Custody

• Advisory
• Tailored governance and risk rules
• Risk exposure monitoring
• Reporting
• Insurance

Business to business to customer custody

Enables financial institutions to offer digital assets custody to their customers

• Governance rules tailored for the business and it's customer.
• Anti-money laundering services
• Risk exposure monitoring
• Reporting
• Insurance

Being a trusted gateway to decentralized finance means more than just being a marketplace

Crypto Compliance Center Crypto-compliance-as-a-service

Financial Crime

• Financial crime 24/7 on call support. Pre-transaction assessments (stop or approve)
• Fraud detection, investigations and support
• Ransomware advisory

AML

• Proof of funds reports: Screening and analysis of transactions and wallets
• Reports on individuals or legal entities
• Suspicious activity reports for authorities
• Work together with your internal team to create processes adapted for crypto risk

Risk Management

• Risk assessment of customer base derived from their crypto activity
• Assist in customer and partner onboarding.
• Crypto sanction lists Customer analysis on existing and new sanctions
• Monitoring of addresses including retrospective screening
• Exposure monitoring of defi liquidity pools and exchanges

Milestones & Targets 2024

• 200 000 Registered users on the platform
• 50 000 Active users
• 10 000 Cards at end of year
• Positive annual result 2024

@nbxcom