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Amber International Holding Limited Building the Foundation of Institutional Crypto Finance Nasdaq: AMBR ｜Q2 2025 - Earnings Conference Call 1
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Safe Harbor Statement The information in this presentation is provided to you by Amber International Holding Limited (Nasdaq: AMBR)(“Amber International,” “we,” “us,” “Company,” or “AMBR”) solely for informational purpose and does not constitute an offer to buy or sell or solicitation of an offer to buy or sell, any securities of the Company in any jurisdiction or an inducement to enter into investment activity, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever in the United States or anywhere else. Specifically, this presentation does not constitute a “prospectus” within the meaning of the U.S. Securities Act of 1933, as amended (the “Securities Act”). No securities of the Company may be offered or sold in the United States without registration with the U.S. Securities and Exchange Commission (the “SEC”) unless pursuant to an available exemption from the registration requirement of the Securities Act. This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of the Company. This presentation does not constitute legal, regulatory, accounting or tax advice to you. This presentation does not constitute and should not be considered as any form of financial opinion or recommendation by the Company or any other party. This presentation contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: (i) the risk that the Company may not obtain the regulatory approval in relation to DWM Asset Restructuring in a timely manner or at all and may need to continue relying on the intercompany service agreements to receive the economic benefits of the WFTL Assigned Contracts; (ii) risks related to the performance of the amendment, waiver and framework agreement, including the expected timing and likelihood of receipt of the regulatory approvals contemplated therein; (iii) the risk that the Company’s business lines are nascent, not fully proven by market and subject to material legal, regulatory, operational, reputational, tax and other risks in the jurisdictions where it operates; (iv) the risk of declining prices of digital assets and reduced transaction volumes conducted by the Company; (v) regulatory and market risks related to cryptocurrencies and digital assets and in the jurisdictions where the Company operates; (vi) risks related to fluctuations in the market price of bitcoin and any associated unrealized gains or losses on the digital assets that the Company may record in its financial statements as a result of a change in the market price of bitcoin from the value at which the Company’s bitcoins are carried on its balance sheet, as well as commercial, legal, regulatory, accounting and technical uncertainties associated with the Company’s crypto holdings; (vii) a decrease in liquidity in the markets in which the cryptocurrencies and digital assets are traded; (viii) the impact of the availability of spot exchange traded products and other investment vehicles for digital assets; and (ix) reliance on strategic partners or potential strategic partner. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this presentation is as of the date of this presentation, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law. The communication of this presentation may be restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. This presentation is not directed to or intended for distribution, or transfer, either directly or indirectly to, or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, transfer, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Amber International Holding Limited (Nasdaq: AMBR) 2
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Non-GAAP Financial Measures The Company uses adjusted EBITDA, adjusted net income/(loss), and diluted adjusted net income/(loss) per ADS, each a non-GAAP financial measure, in evaluating the Company's operating results and for financial and operational decision-making purposes. The Company believes that adjusted EBITDA, adjusted net income/(loss), and diluted adjusted net income/(loss) per ADS help identify underlying trends in the Company's business that could otherwise be distorted by the effect of the expenses and gains that the Company includes in net income. The Company believes that adjusted EBITDA and adjusted net income/(loss) provide useful information about the Company's operating results, enhance the overall understanding of the Company's past performance and future prospects, assess operating performance on a consistent basis, and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. Adjusted EBITDA, adjusted net income/(loss), and diluted adjusted net income/(loss) per ADS should not be considered in isolation or construed as an alternative to net income/(loss) or any other measure of performance or as an indicator of the Company's operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBITDA, adjusted net income/(loss), and diluted adjusted net income/(loss) per ADS presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. The Company encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure. For more information on these non-GAAP financial measures, please see the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP results” included in this presentation. These non-GAAP financial measures were presented with the most directly comparable GAAP financial measures together for facilitating a more comprehensive understanding of operating performance between periods. THE INFORMATION CONTAINED IN THIS DOCUMENT MAY NOT BE FORWARDED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON (WHETHER WITHIN OR OUTSIDE YOUR ORGANIZATION/ FIRM) FOR ANY PURPOSE AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER. ANY FORWARDING, PUBLICATION, DISTRIBUTION OR REPRODUCTION OF THIS DOCUMENT IN WHOLE OR IN PART IS UNAUTHORIZED. Amber International Holding Limited (Nasdaq: AMBR) 3
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US$21.0mn Total Revenue 4,911 Cumulative KYC'ed Institutional & HNW Private Wealth Clients5 3 Focused Jurisdictions: SG, HK, Dubai 8+ Backed by Amber Group's 8+ Years of Industry Leadership Full-Stack Execution Comprehensive Wealth Management Product Solutions Crypto Payment What We Offer • Institutional Market Access – Direct access to 2,000+ trading pairs across 100+ CEXs, DEXs, and OTC markets • Automated Execution – High-performance trading infrastructure handling US$0.9 billion in monthly transaction volume • OTC Trading – 24/7 institutional OTC desk • Structured Investment Products • Yield & DeFi Solutions • Strategic Funds • Collateralized Lending • Fiat On/Off-Ramp – Secure, regulated crypto-to-fiat and fiat-to-crypto conversion • Amber Premium Crypto Card – Bridging digital assets with traditional finance, allowing direct crypto spending, including yield-generating assets, across global merchants with real-time settlement Amber Premium1 Asia’s Leading Digital Wealth Management Platform The flagship brand of Amber International Holding Limited 4Amber International Holding Limited (Nasdaq: AMBR)
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What Amber Premium Offer Institutional-grade Digital Asset Investment & Financial Solution Amber International Holding Limited (Nasdaq: AMBR) Depth of Products Cater risk preferences & liquidity requirements Breadth of Services Address financial needs across different stages and aspects HNWI & Institutional Clients Execution Solutions Crypto Wealth ManagementCrypto Payment ● Market Access ● Automated Execution ● OTC Trading ● Amber Premium Payment Cards ● Structured Products ● Yield & DeFi Solutions ● Strategic Funds ● Collateralized Lending ● Access to Primary Market Web3 Investment Opportunities HNWI & Institutional Clients 5
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6/10 in APAC Top global crypto adoption countries 30.7% Revenue in APAC according to Grand View Research 25.4% Expected CAGR through 2030s Global cryptocurrency market share in 2024 APAC crypto asset management according to Chainalysis according to Grand View Research Market Affirmation Global Inflection Point Digital assets are rapidly moving from niche to mainstream, with institutional investors driving adoption through ETFs, tokenized securities, and treasury allocation strategies. Asia-Pacific as the Growth Engine APAC leads global adoption, driving a projected 25.4% CAGR in crypto asset management through 2030. Structural Advantages As infrastructure matures and regulation evolves, digital assets are emerging as a credible asset class for global institutions seeking diversification and long-term value creation. Amber International Holding Limited (Nasdaq: AMBR)
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Our Leadership Team Deep expertise across global financial institutions, digital asset markets, and fintech innovation. Our Capability Advanced Market Access with Exclusive Products Seamless execution across CEX, DEX, and OTC markets, ensuring deep liquidity, best-price execution, and exclusive access to institutional-grade opportunities. Best-in-class Industry Connectivity & Innovation Leadership Backed by Amber Group’s 8+ years of digital asset leadership, Amber Premium pioneers institutional DeFi, tokenized assets, and next-gen financial products within Asia’s leading blockchain networks. Scalable Infrastructure & API Solutions Enterprise-grade, API-driven solutions enabling regulated, risk-managed digital asset access for financial institutions, asset managers, and businesses. Compliant & Secure Amber Premium operates as a regulated investment platform, ensure secure and compliant institutional adoption of digital assets. What Differentiates US 7 Yi Bao Chief Product Officer Chief Financial Officer Jeffrey Wang Head of Americas Vicky Wang President Michael Wu Chairman of the Board and CEO Alex Zhang VP of Engineering Josephine Ngai Amber International Holding Limited (Nasdaq: AMBR)
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✓Relationship-driven model ✓Institutional-focused platform ✓Competing on expertise & service ✓Private banking experience ✓Tailored wealth solutions Competitive Positioning 6 • Volume-driven business model • Retail-focused platforms • Competing on scale and cost • Commoditized execution services • Limited customization Retail-focused wealth management platform Amber Premium Competitive Moat: Strong Client Profile ● Official account minimums: $1M+ ● Active client relationships: Ranging from $1-100M per account Institutional relationships and regulatory expertise cannot be easily replicated at scale. What Differentiates US Amber International Holding Limited (Nasdaq: AMBR)
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REVENUE US$21.0mn Q2 2025 GROSS PROFIT US$15.0mn Q2 2025 CLIENT ASSETS 35.7% YoY Increase in Client Assets on Platform6 CLIENT GROWTH 20.8% YoY Cumulative KYC'ed Users Growth5 2025 Q2 at a Glance Quarterly Highlights ended June 30, 20252 Amber Premium Leads the Way with strong overall performance in Q2, serving the most sophisticated clients in Asia with a private-banking experience powered by technology and unrivaled access to digital assets. 9 Amber International Holding Limited (Nasdaq: AMBR)
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Business Segments Revenue Quarterly Highlights ended June 30, 20252 US$11.5mn Wealth Management Solutions US$6.6mn Marketing & Enterprise Solutions Execution Solutions US$2.0mn Payment Solutions US$0.9mn Segment Revenue US$ million • Wealth Management Solutions showed exceptional growth, contributed by the WFTL Assigned Contracts and strong demand on our diverse investment products and services. • Marketing & Enterprise Solutions revenue was recorded at our consolidated level starting from the merger completion with iClick Interactive on March 12, 2025 • Execution Solutions3 demonstrated solid growth primarily driven by the WFTL Assigned Contracts and higher average fee rate and spread • Payment Solutions4 which the revenue is generated from the conversion fee of our fiat on/off-ramp services 10Amber International Holding Limited (Nasdaq: AMBR)
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Business Strategies 01 • Service package for digital asset treasury firms • Engage traditional institutions exploring tailored crypto entry • Build B2B2C brokerage infrastructure Promoting Institutional Adoption • The first Asia-based public company whose stock is made available onchain via xStocks, enabling 24/7 global access and trading of tokenized AMBR shares alongside major global stocks AMBR Tokenization & On-Chain Exposure Innovative Financial Products & Seamless Platform Evolution RW A Initiatives02 03 04 • End-to-end solution integrates advisory, custody, and liquidity • Broaden the range of tokenized products, working alongside ecosystem partners to deliver a more unified portfolio experience for clients 05 • Comprehensive structured product suites that adapt across market cycles • Evolve a seamless, AI-embedded platform to enhance client onboarding, product selection, and portfolio monitoring AgentFi Innovation • Leverage AI technologies and intelligent agents across marketing, social engagement, and client support to scale our operations and business efficiently and consistently 11Amber International Holding Limited (Nasdaq: AMBR)
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AgentFi & AI Integration Long-term Vision First Mover in AgentFi Economy AI Powering Crypto Financial Services MIA AI Agent on ai.ac • Crypto-native AI technology and infrastructure • Trained by proprietary crypto-native and finance-native data and knowledge • Designed for blockchain, crypto-use and Web3 applications • Autonomous AI agent to enhance client engagements • 24/7 strategy and execution supports • Real-time analysis on portfolio performance • Proactive risk management • Developed by Amber Group’s incubated platform, ai.ac, deployed on Coinbase's Layer 2 blockchain, Base • Sophisticated crypto service AI Agent with self-evolving and self-learning capabilities • Supporting marketing, social engagement, and client support to scale our operations and business efficiently 12 Amber International Holding Limited (Nasdaq: AMBR)
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Appendix Amber International Holding Limited (Nasdaq: AMBR) 13
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Unaudited Reconciliations of GAAP and non-GAAP Results 14
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Unaudited Reconciliations of GAAP and non-GAAP Results 15
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Unaudited Reconciliations of GAAP and non-GAAP Results 16
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Appendix 17 1 - Amber Premium is the brand name under which Amber International Holding Limited (NASDAQ: AMBR) operates its institutional crypto financial services and solutions business. 2 - The operating metrics presented in this deck include operating data from Sparrow business, and the WFTL Assigned Contracts. While the relevant entities were not consolidated subsidiaries of the Company throughout the relevant periods, their operating data have been included ona pro forma basis for illustrative purposes assuming the completion of DWM Asset Restructuring contemplated in the Merger. As of the date of this earnings release, other than the consolidation of Sparrow business following the relevant regulatory approval in April 2025, the DWM Asset Restructuring has not been completed. 3 - Execution trading volume is defined as the total U.S. dollar equivalent value of two-side spot matched trades transacted of crypto assets between a buyer and seller through the Company, and excluding the deposit or withdrawal of crypto assets during the period. 4 - Payment trading volume is defined as the total U.S. dollar equivalent value of one-side on/off-ramp through the Company during the period. 5 - Cumulative KYC’ed Users is defined as the total number of clients that completed the Company’s Know Your Customer identity verification as of a specific date. 6 - Client Assets on Platform is defined as the total U.S. dollar equivalent value of client assets as of a specific date.
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Amber International Holding Limited (Nasdaq: AMBR) In Asia: Amber International Holding Limited Media Relations Team Tel: +65 6022 0228 E-mail: pr@ambr.io | ir@ambr.io | amber@paradigmconsulting.com.hk In the United States: International Elite Capital Inc. Annabelle Zhang Tel: +1 (646) 866-7928 Email: amber@iecapitalusa.com 18