Ace Digital AS — Capital/Financing Update 2026

Mar 4, 2026

Correction: Ace Digital AS (Euronext Growth Oslo: ACED)

Correction: Ace Digital AS (Euronext Growth Oslo: ACED)

Ace Digital - Doubles Down on Ace Fund Following Demonstrated Downside

Resilience and Validated Bitcoin Treasury Execution

PRESS RELEASE

4 March 2026 07:00 CET

Oslo, Norway

Ace Digital AS (Euronext Growth Oslo: ACED) announces an additional NOK 5

million allocation to Ace Fund, reinforcing the Company's Bitcoin treasury

platform following strong relative performance in a severe Bitcoin market

drawdown -- including exposure to preferred instruments from Strategy Inc.

(MSTR). Ace Digital is structurally Bitcoin-bullish and seeks to generate

shareholder returns exceeding Bitcoin over full market cycles through

disciplined, active capital allocation.

Ace Digital maintains a robust liquidity position and has no current need for

external capital. The Company's primary focus remains the disciplined creation

of long-term shareholder value, with particular emphasis on enhancing returns

for existing owners through prudent capital allocation and Bitcoin treasury

strategies. We preserve strategic flexibility for truly compelling

opportunities that would demonstrably benefit current shareholders.

Ace Fund Demonstrated Downside Resilience

Since inception in November 2025 through February 2026:

* Bitcoin has declined 38.8% (USD)

* Ace Fund has delivered a positive return of 7.4% (USD)

* Maximum drawdown has been limited to 0.6%

The approximately 46 percentage point relative performance differential during

a period of significant Bitcoin market stress represents a strong validation

of the fund's capital preservation mandate and active treasury execution.

While the operating history remains limited, the results demonstrate the

platform's ability to preserve capital and compound value during adverse

market conditions.

How Returns Have Been Generated

Ace Fund combines:

* Core long exposure to Bitcoin-related companies

* Systematic harvesting of dividends and corporate cash flows

* Retention of principal positions

* Reinvestment of realized income into Bitcoin alpha opportunities

* Tactical risk management during market dislocations

Rather than relying solely on Bitcoin price appreciation, the strategy seeks

to convert volatility and cash-flow characteristics within the Bitcoin equity

ecosystem into incremental Bitcoin exposure over time.

Ace Fund is structured as a lower-volatility mandate within Ace Digital's

broader Bitcoin platform.

Allocation Across the Bitcoin Capital Structure

As part of its capital allocation framework, Ace Fund holds exposure to debt

instruments issued by Strategy (Nasdaq: MSTR), the world's first and largest

Bitcoin treasury company. Through such instruments, Ace Digital participates

in the capital structure of a globally significant Bitcoin treasury platform

while earning contractual yield characteristics. This reflects the Company's

strategy of allocating capital across the Bitcoin capital structure --- not

solely through equity exposure.

Platform Development and Structure

Ace Fund is currently capitalized solely by Ace Digital and is closed to

external investors. The Company intends to evaluate additional Bitcoin-themed

mandates over time, including both lower- and higher-volatility strategies,

while maintaining strict shareholder alignment and capital discipline.

Ace Digital awaits final regulatory clarifications relating to announced

AIF/AIFM framework developments before determining long-term organizational

structure, domicile considerations, or potential distribution scope.

Long-Term Thesis

Ace Digital maintains a high-conviction long-term view on Bitcoin as a

structurally disruptive financial and monetary technology. While direct

Bitcoin exposure can generate significant long-term upside, volatility can

constrain capital allocation. Ace Digital's treasury platform is designed to

participate in Bitcoin's structural growth while actively managing risk and

capital efficiency.

The Company's ambition is to build the leading Nordic Bitcoin treasury

platform and to compound shareholder value over time through disciplined

execution across market cycles.

Risk Disclosure

Bitcoin and Bitcoin-related investments involve significant volatility,

regulatory risk, liquidity risk, and operational risk. Past performance is not

indicative of future results. There can be no assurance that the Company will

achieve returns exceeding Bitcoin over time.

"We are doubling down on what seems to work: Ace Fund has proven itself as a

powerful implied Bitcoin yield engine, delivering significantly superior

risk-adjusted returns compared to holding Bitcoin outright in the current

drawdown. Drawing lessons from Strategy Inc. (MSTR), whose innovative

high-yielding preferred instruments (STRC and STRD) serve as efficient yield

machines for Ace Fund, we actively scan for other quality Bitcoin-related

companies to diversify our portfolio.

Ace Fund is built as our low-volatility, unlevered layer for conservative

exposure. In contrast, Ace Digital's core Bitcoin treasury strategy is

designed for full upside capture -- we've achieved outperformance versus

Bitcoin since listing through asymmetric convexity in our derivatives

approach, and while we are currently patient, awaiting clearer market signals

to go full throttle again, the goal is never to nail the bottom but to ride

the upside hard when our model says 'now!'. With this capital injection and

focus on principal protection and alpha, we aim to establish Ace Digital as a

cornerstone of the Nordic Bitcoin ecosystem and Ace Fund will be a part of

it." said Alexander Hagen, CEO of Ace Digital AS.

Contact

Alexander Hagen, CEO Ace Digital AS

E-mail: ah@acedigital.no

About Ace Digital

Ace Digital AS is a Norwegian holding company dedicated to creating value in

the Bitcoin ecosystem through strategic investments and active ownership in

subsidiaries. Our vision is to be the Nordic region's leading platform for

Bitcoin investments, with Bitcoin as a cornerstone of our balance sheet. The

company is listed on Euronext Growth Oslo under the ticker ACED.

www.acedigital.no (http://www.acedigital.no/)

Cautionary Statement Regarding Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of

applicable securities laws. These include expectations regarding the offer's

benefits, timing of completion, and ability to integrate the companies. Such

statements are subject to risks, including delays in approvals, integration

challenges, findings in the due diligence process, and market changes.

Investors are urged to read the forthcoming information memorandum/prospectus

for details.

No Offer or Solicitation

This communication does not constitute an offer to sell or a solicitation to

buy securities, nor will there be any sale of securities in jurisdictions

where such offer or sale is unlawful without registration or qualification

under applicable securities laws.