sigrafi.com 1 © 2025 SigraFi © 2025 SigraFi WHERE GOLD MEETS SMART CAPITAL SigraFi Ltd, Quijano Chambers, Road Town, Virgin Islands (British), Company Number 2159085 SigraFi.com | Designed for Global Markets Investor Deck | Q4 2025 sigrafi.com 2 © 2025 SigraFi SigraFi (n.) /ˈsig-rah-fī/ Origin: “Sig” – from the Sumerian sig₁₇, meaning golden; the root of humanity’s store of value for 5,000+ years • “Ra” – the Egyptian sun god, symbol of eternity, power, and divine wealth. Modern Layer: “Sig” also nods to digital signatures, cryptographic proofs, and the blockchain infrastructure that secures programmable value. Definition: A brand that unites ancient value with digital certainty; gold and code, combined. A company built for sovereign-grade trust in the onchain financial era. sigrafi.com 2 sigrafi.com 3 © 2025 SigraFi BANKS LEFT, DEMAND DIDN’T Global banks have stepped back from MSME gold producers, leaving an annual multi-billion-dollar financing and CAPEX shortfall in this production segment THE OPPORTUNITY Maturing onchain private credit markets present a unique opportunity to efficiently raise and deploy capital into this ‘golden gap’ At scale. sigrafi.com 4 © 2025 SigraFi sigrafi.com 4 © 2025 SigraFi WHAT IS SigraFi sigrafi.com 5 © 2025 SigraFi SigraFi was established to address the limited access to credit faced by Micro, Small, and Medium-sized Enterprise (MSME) gold producers seeking growth CAPEX. It provides secured loans to credit-approved unrefined gold (doré) producers to scale production. In return, SigraFi receives a fixed-term doré supply agreement at a fixed percentage discount to the LBMA gold spot price. This discount functions as an alternative to charging interest on the loans. The doré is refined into 24ct gold bullion and sold to SigraFi’s contracted offtakers, generating profit on sales. 50% of SigraFi’s net profit is invested in gold bullion and vaulted , building a gold bullion treasury. The gold bullion treasury is used to collateralise SigraFi’s institutional-grade gold-secured loan notes , which are issued onchain. This debt capital funds further secured lending to SigraFi’s borrowers, increasing SigraFi’s contracted doré supply. The business forecasts to be cash positive in its first year with $4.6m EBITDA, rising to $66.8m in year 5, with a $120.9m gold bullion treasury by Y5 end. SigraFi is raising a minimum $5m of seed capital . Equity investors will receive priority rights and preferable terms to purchase the gold-secured loan notes, which offer outperforming yields and 100% downside protection. SigraFi operates at the intersection of gold production, private credit, and onchain capital markets. WHERE GOLD MEETS SMART CAPITAL sigrafi.com 6 © 2025 SigraFi sigrafi.com 6 © 2025 SigraFi SigraFi WAS CREATED TO CAPITALISE ON THE LACK OF CREDIT AVAILABLE FOR GLOBAL MSME GOLD PRODUCERS AND THE ENDURING VALUE OF GOLD sigrafi.com 7 © 2025 SigraFi PROVIDING SECURED FINANCE TO UNDERSERVED MSME GOLD PRODUCERS SigraFi provides secured financing to Micro, Small and Medium-sized Enterprises (MSMEs) producing semi-refined gold doré and seeking to scale-up in a global sector that is severely underbanked. Over $75bn of gold is produced annually (20% of global supply) by an estimated 100,000 of these businesses, with an estimated $6.5bn annual CAPEX requirement to meet demand in this production segment. (McKinsey) SigraFi provides: ❖ Greater structuring flexibility ❖ Sector expertise ❖ Patient capital with longer tenors ❖ Flexible repayment terms These features alleviate the short-term repayment pressures typical of bank loans and provide funding models tied to production cycles and offtake contracts. SigraFi operates in the significant vacuum created by banks, particularly acute in gold-producing emerging and frontier markets. Rather than pay interest, the borrower contractually undertakes to sell SigraFi a minimum quantity (kg) of semi-refined gold (doré bars), each month for the term of the loan. The price for the doré is set at a fixed percentage discount to the LBMA gold spot price. SigraFi refines the gold, then sells the refined gold bullion to its contracted offtaker partners, earning the net discount margin on each gold purchase. USD of gold is produced annually by SigraFi’s target market (20% of global supply) $75bn+ Estimated $6.5bn CAPEX needed annually for the next decade to meet demand in the MSME gold production segment worldwide Sources: Global Materials Perspective 2024 | McKinsey, Private Credit 2025 | Moody’s | Doré: the term used for the rough or unrefined gold typically produced at the mine site sigrafi.com 8 © 2025 SigraFi SigraFi evaluates each gold producing company’s business model, assessing their historical production record, source of gold, production processes, running costs and home market to ensure an equitable and sustainable agreement. ❖ SigraFi asks for a minimum weight of discounted doré in kilos per trade, typically above 91% purity and typically two trades per month ❖ SigraFi provides liquidity to existing gold producers - production scale-ups. It does not finance start-ups, or exploration SigraFi is led by a highly experienced team of international investors, entrepreneurs, commodity business operators and corporate finance C-Suite executives with decades of experience in owning banks, investment banks, and asset management companies. A TAILORED APPROACH TO SECURED LENDING © 2025 SigraFi UNDERWRITING POLICY SigraFi’s loan underwriting criteria includes, but is not limited to: ❖ Minimum 1.5x security cover ❖ Independent security default report ❖ Independent compliance, traceability and risk management report ❖ Independent AML & KYC report ❖ Independent doré traceability report ❖ References report (multiple) ❖ Gold production technical report ❖ Full-time in-country contract liaison officer ❖ Mine, tolling plant or aggregation depot in-country visits Many of these services are provided by internationally recognised experts with established track records in SigraFi’s gold origin countries. sigrafi.com 9 © 2025 SigraFi sigrafi.com COMPLIANCE | RESPONSIBLE GOLD SOURCING & RISK CONTROLS SigraFi applies a multi-tiered and jurisdictional compliance framework to ensure its gold sourcing is responsible, verifiable, and institutionally acceptable All supply chains undergo due diligence to avoid reputational, legal, or compliance risk SigraFi does not finance, offtake, or collateralise with gold from sanctioned jurisdictions, conflict zones, or untraceable sources Gold Supply Chain Risk Controls ❖ Counterparties screened against OFAC, UN, EU, UK, and UAE sanctions lists ❖ Country-level risk assessment for political instability, AML/CFT exposure, and ESG red flags ❖ High-risk jurisdictions are excluded or subject to enhanced due diligence Know-Your-Gold (KYG) Protocols ❖ Borrower screening: KYC, UBO verification, and politically exposed person (PEP) checks ❖ Material verification: Origin confirmed at gold sourcing sites ❖ Chain-of-custody: Full traceability documentation required prior to disbursement Refinery & Processing Standards SigraFi only works with refineries accredited by: ❖ UAE Good Delivery (UAEGD) ❖ DMCC ❖ LBMA Good Delivery List SigraFi’s gold sourcing policies align with the OECD Due Diligence Guidance for Responsible Supply Chains and are structured to meet institutional KYC/AML and ESG requirements across all jurisdictions sigrafi.com 10 © 2025 SigraFi SIGRAFI TRANSACTION CHART Identify an MSME gold producer seeking CAPEX to scale production STEP 1 Source & Screen Gold Producer Independent risk assessment company provides DD reports to confirm eligibility STEP 2 Comprehensive DD & Refinery Onboarding Security charge and supply agreement are produced and signed by SigraFi and gold producer STEP 3 Loan Agreed Gold Reports ➔ Gold production technical report ➔ Compliance, traceability & risk management report ➔ Doré traceability report Credit Reports ➔ AML & KYC Report ➔ Security Default Report ➔ Risk Management Report Risk Verification of security being put up for the loan Compliance paperwork is submitted to the refinery The doré is delivered by the seller to Dubai airport where SigraFi’s security partner clears the doré through customs and securely transfers it to the Dubai refinery STEP 4 Doré Delivery Doré is refined into 24ct gold bars at the refinery, stamped with the DMCC hallmark, and sold to SigraFi’s contracted offtaker at the LBMA gold spot price STEP 5 Refining & Offtake = Monetisation SigraFi gold bullion treasury Net profit: 50/50 split between Business development, dividends, special dividends & share buybacks sigrafi.com 11 © 2025 SigraFi UNIT ECONOMICS FOR 1 x 10KG DORÉ TRADE Producer Doré Supply Agreement with SigraFi Producer contracts to supply 10kg 22ct doré per trade SigraFi contracts to acquire supply at 8% LBMA discount on the final bullion weight Buyer Offtake Agreement with SigraFi After refining, 24ct bullion weight is 9.17kg representing 91.67% purity of 22ct doré Offtaker acquires bullion at LBMA spot price 50% 50% $21,522 Invested in SigraFi’s bullion treasury $21,522 For SigraFi business development, dividends, special dividends & share buybacks Proceeds Waterfall Gross sales proceeds paid to SigraFi SigraFi payment to Producer Trade profit Direct costs Profit Overhead contribution Net profit $962,500 -$885,500 $77,000 -$29,174 $47,826 -$4,782 $43,044 Assumptions ● Doré purity 91.67% (22/24) ● $105,000 LBMA price per kg, unchanged over 36-month term ● $105,000 x 9.16667kg = $962,500 gross sale proceeds per trade ● $105,000 x 91.67% x (1 - 8%) x 10kg = $885,500 due to Producer per trade ● Direct costs of 2.5% export tax, 0.5% source logistics, 0.1% destination logistics, 0.1946% refining costs, as a percentage of amount due to Producer ● Overhead contribution of 10% ● Unit economics illustrated excluding any associated cost of capital Over 36-month term $3,443,467 Profit 344% Return on $1m loan $1,633,214 Value of contribution to bullion treasury $83,654 Estimated gain included in bullion treasury value SigraFi Loan Agreement with Producer $1m loan for 36-months 0% interest ≥1.5 x LTV security cover Trades take place 2 x per month in a typical contract, each cycle takes an average of 5 days from supply to sale sigrafi.com 12 © 2025 SigraFi sigrafi.com 12 © 2025 SigraFi SIGRAFI’S GOLD TREASURY IS BUILT WITH 50% OF NET PROFITS THIS IS HOW IT’S PUT TO WORK sigrafi.com 13 © 2025 SigraFi Over time, SigraFi will build its gold bullion treasury. A portion of this treasury provides collateral for issuing gold-secured loan notes with competitive yields. Using traditional finance to leverage gold is expensive, cumbersome and inefficient. By issuing institutional-grade secured loan notes natively on the blockchain (onchain) SigraFi can access a highly liquid pool of capital that trades 24/7/365. Gold-secured loan notes issued onchain SigraFi is issuing loan notes accessible 24/7/365 to global investors, secured by a portion of its vaulted gold treasury. These instruments are designed to offer a range of returns by risk profile and are structured to provide SigraFi with seamless, reliable liquidity for MSME lending. These are bankruptcy-remote, physical gold-secured loan notes issued in different sizes, maturities and yields. The initial tranche of loan notes will offer market-beating income yields (compared to similar risk profiles) with 100% downside risk protection, provided by the Chicago Mercantile Exchange (AA-/Aa3) as part of the security package. Note issuance will be available to all qualified investors. Refer to the Appendix for further details. Powered by onchain transparency and reliability SigraFi is issuing secured loan notes onchain to access a rapidly growing global capital base and to raise relatively small amounts of debt efficiently. Onchain markets offer transparency, speed, and programmable compliance, providing SigraFi with a scalable mechanism to raise non-dilutive capital. Over 500m people worldwide now own onchain investments and assets. SigraFi’s loan notes provide smaller investors with institutional-grade security and superior returns normally only available to larger institutional investors. CREATING LIQUIDITY FROM SIGRAFI’S GOLD TREASURY TO FUND ITS SECURED MSME LOAN BOOK sigrafi.com 14 © 2025 SigraFi Seed Capital → Treasury $3m Seed capital allocated to SigraFi’s gold bullion treasury (immediate $ value uplift from fixed-discount % doré sourcing) Onchain Loan Note Issuance Issue gold-secured loan notes onchain, collateralised by bullion treasury, segregated into bankruptcy remote structure Finance Gold Producers Provide loans to underbanked MSME gold doré producers for fixed-discount offtake agreements 50% Of Net Profits Invested in Gold Bullion Profits reinvested into gold bullion, expanding the treasury 1 2 3 4 SigraFi’s gold bullion treasury, acquired at a discount against LBMA price SigraFi Gold Bullion Treasury Onchain Loan Note Issuance 50% of Transaction Profits Invested In Gold Bullion Treasury A portion of the gold bullion treasury underpins Which raises cost-effective capital to Finance Gold Producers SigraFi earns doré-bullion discount margin from contracted offtake agreements 50% retained for business development, dividends, special dividends & share buybacks Seed Raise Series A $3m (of $5m) Seed capital initiates SigraFi’s gold bullion treasury $20m Series A capital expands SigraFi’s gold bullion treasury SIGRAFI’s GROWING GOLD BULLION TREASURY DRIVES SCALABLE ONCHAIN DEBT ISSUANCE Treasury Treasury sigrafi.com 15 © 2025 SigraFi sigrafi.com 15 © 2025 SigraFi MARKET CONTEXT sigrafi.com 16 © 2025 SigraFi SIGRAFI OPERATES IN AN ANNUAL $380bn+ GROWING GLOBAL GOLD MARKET 40% of central banks are planning to increase gold holdings over the next decade according to recent research from OMFIF (1) "We remain deeply convinced of a continued structural bull case for gold and raise our price targets accordingly" Natasha Kaneva, Head of Global Commodities Strategy at J.P. Morgan , June 2025 ¹ OMFIF (Official Monetary and Financial Institutions Forum) Global Public Investor Report 2025 16 © 2025 SigraFi 3,600+ Metric Tonnes $75bn+ Market Value $6.5bn+ Golden Gap Annual global gold production with consistent and rising demand MSME producer segment where access to scale-up finance is severely limited for 100,000+ global companies Estimated $6.5bn annual CAPEX investment needed by MSMEs in the gold sector to meet demand sigrafi.com 17 © 2025 SigraFi THE PHYSICAL GOLD MARKET SETTLES OVER $65bn A DAY IN TRADES Every day, over $65bn of physical gold is bought and sold . Including gold futures and gold ETFs, this rises to $165bn a day. SigraFi’s production forecast assumes in five years time it will represent less than 1/10th of 1% of the gold purchasing market. SigraFi’s loan-note-to-gold ratio has been conservatively forecast to be less than 30% HOW SIGRAFI BUILDS ITS GOLD BULLION TREASURY FORECAST GOLD BULLION TREASURY VALUE BY END OF YEAR 5 50% Net Profits 60% Seed Round 100% Series A Invested in gold bullion With Static Bullion Price $94.6m 901 KG Y1-Y5 treasury value grows 30 times 133% CAGR With 5% Annual Increase $120.9m 906 KG Y1-Y5 treasury value grows 36+ times 146% CAGR Assumptions: Year 1 Month 1 LBMA price $105k per kilogram | The gold reserve is accumulated from SigraFi’s supply chain, modelled on a rolling 6-month average of the cost to purchase and refine doré to bullion at an average discount over 5 years of 6.5% against LBMA price without price inflation and 7.5% with annual 5% price increase sigrafi.com 18 © 2025 SigraFi sigrafi.com MARKET OPPORTUNITY MSME GOLD PRODUCERS: A STRUCTURALLY UNDERSERVED CREDIT MARKET 18 SOM (Serviceable Obtainable Market) $ 1bn+: Projected SigraFi revenue within 5 years SAM (Serviceable Attainable Market) TAM (Total Addressable Market) $380bn+: Global annual gold production ( World Gold Council, 2024) 1 2 3 MSME gold production value is $75bn+ annually (20% of the total global gold market). This sector has an estimated annual $6.5bn CAPEX investment shortfall ( McKinsey, 2024) sigrafi.com 19 © 2025 SigraFi WHY SOURCE DEBT CAPITAL ONCHAIN? Why Onchain Capital is the Future ❖ Forecasted $30 trillion in tokenised assets by 2034 ( RedStone, Gauntlet, RWA.xyz ), ❖ Institutional adoption: BlackRock, JPMorgan, Apollo, and Franklin Templeton are already running successful tokenised onchain products ❖ Onchain structures enable: ➢ 24/7/365 borderless issuance and settlement ➢ Smart contract-enforced coupon repayments ➢ Transparent investor protections ➢ Lower issuance cost How SigraFi Fits ❖ Transforms gold’s stability into secure, yield-bearing investments without selling upside ❖ Onchain secured loan notes, fully collateralised with vaulted gold, covering principal and coupon obligations. 100% downside protection provided by CME (AA-/Aa3) ❖ SigraFi’s flywheel compounds value: each loan expands the bullion treasury, which in turn underpins larger instrument issuances Why Private Credit Works ❖ Private credit has doubled to $2 trillion AUM since 2020, projected at $3 trillion by 2028 (Moody’s) ❖ Offers faster, flexible structuring tailored to borrower cashflows ❖ Unlocks lending to asset-rich but credit-invisible producers ❖ Private lenders can directly underwrite physical collateral and enforce downside risk protection sigrafi.com sigrafi.com 20 © 2025 SigraFi sigrafi.com 20 © 2025 SigraFi GOLD OPERATIONS