Samara Asset Group p.l.c — Capital/Financing Update 2025

Oct 2, 2025

Financial Maintenance Covenants as of 30-Jun-25

Maximum Total Loan to Value Requirement

Total Gross asset Value Total Net Debt	290,611,223 (36,762,008)
Total Net Asset Value	253,849,215
Total net debt to net asset value	14.48%

Maximum Limited Loan to Value Requirement (for SPV as guarantor of the bonds)

	€ Mln
GAV of assets held by guarantor	152.29
Total Net Bond Debt	(17.58)
Limited Net Asset Value	134.70
Total Net Bond Debt/ Limited Net Asset Value	13.05%

Net Proceeds invested ( under Clause 13.18 of the Bond Terms)

91% of the net bond proceeds were invested in LP interest by the end of Q2/25 and which form part of the Eligible LP Interest as guarantee.

Minimum Liquidity Account

As at end of Q2/25, the Group held under trust the sum of €1.019M in a segregated account with the bank. Such balance exceeds an amount equal to the aggregate amount of interest scheduled to accrue on all the outstanding Bonds for the next the 6-month period at the time.

Statement of Confirmation

We state and confirm that the Maximum Total Loan to Value Requirement and the Maximum Limited Loan to Value Requirement are both less than 35%

	LP Stakes pledged against Bond of €20M	Position as of 30 June 2025
				€ Millions
Fund Investments	Description	FVOCI	FVOCI as at Transfd		FVOCI
		US Dollars			Transfer red
		30 Jun 2025	30 Jun 2025
Presight Capital Feeder Fund ONE Elevat3- Capital Fund	VC fund focused on IT, fintech, life sciences and space technology sectors VC fund investing in vintage companies	\$18.53	€ 37.76 € 15.80	a a	€ 37.76 € 15.80
Apeiron Presight Capital Fund II,LP	VC fund engaging in activities as determind by the Managing Members	\$29.91	€ 25.49	a	€ 25.49
re.Mind Capital Feeder Fund	VC fund dedicated to mental and neurological health.		€ 17.80	a	€ 17.80
Apeiron Partners Feeder Fund ONE	VC fund engaging in activities as determind by the Managing Members	\$18.31	€ 15.60	a	€ 15.60
50 Years Fund	VC fund focusing on preseed investments	\$0.00	€ 0.00	a	€ 0.00
Bitkraft Ventures	VC Fund focused on Web3 and gaming	\$2.73	€ 2.33	a	€ 2.33
Ameythyst Fund II,LP Otherwise Fund	VC in hospitality industry in EU countries		€ 9.03 € 1.22	a a	€ 9.03 € 1.22
Lattice	VC fund focused on early stage investments in Fintech/crypto VC fund run by former founders	\$1.44 \$1.37	€ 1.17	a	€ 1.17
Pomp investment	VC fund run by Bitcoin personality Anthony Pompliano	\$1.15	€ 0.98	a	€ 0.98
Clocktower Technologies Fund I	VC fund focused on Fintech	\$1.32	€ 1.13	a	€ 1.13
GEIF	Macro global equitied fund	\$10.74	€ 9.15	a	€ 9.15
Steel Atlas	VC Fund investing in industrial technologies	\$1.48	€ 1.26	a	€ 1.26
Mubadala Longevity Fund	A sovereign wealth fund of Abu Dhabi investing in life sciences	\$9.14	€ 7.79	a	€ 7.79
Asymmetric	Bitcoin DeFi Venture Fund I, LP	\$0.99	€ 0.84	a	€ 0.84
BitGo Trust Co. Inc Borealis-cash	cash contribution	\$0.42	€ 0.36	a	€ 0.36
	Subtotal		€ 147.71		€ 147.71
					100%
	Cryptoassets			€ Millions
			FVOCI as at
			30 Jun 2025
	Qty	BTC Price	BTC Value		Original Cost	Gain/(Loss)
Bitcoin held at Amina bank	20.0001		€ 1.84		€ 1.56	€ 0.28
		€ 91,773.64		a
BitGo Trust Co. Inc Borealis	10.0000	€ 91,773.64	€ 0.78	a	€ 0.78	€ 0.00
SAM BTC+	25.0000	€ 91,773.64	€ 1.96
			€ 4.57
			€ Millions
	Total Value of Eligible Assets		€ 152.29