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NY SE Am er ica n: DD C 1H26 Supplemental Investor Presentation September 2026
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This document (“Document”) is being provided to recipients solely for use by potential investors for information purpose and it is not intended to form the basis of any investment decision or any decision in relation to a transaction involving DDC Enterprise Limited (the “Company”) and/or any of its subsidiaries and/or affiliates (collectively, the “Group”). By receiving and retaining this Document, the recipient acknowledges and represents to the Group, that you have understood and accepted the terms of this notice. This Document does not constitute an offer to sell or the solicitation of any offer to buy any securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This Document does not constitute or contain an offer or invitation or solicitation for the sale or purchase of securities or any interest in the Group and neither this Document nor anything contained herein shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. Neither the information contained in this Document nor any further information made available by the Group or any of its directors, officers, partners, employees, agents, representatives or advisors will form basis of or be construed as a contract or any other legal obligation. The information contained herein and any additional material provided have been prepared to assist interested parties in making their own evaluation of the Group and do not purport to contain all of the information that an interested party may desire or require to evaluate the Group. In all cases, interested parties should conduct their own investigation and analysis of the Group, financial condition and prospects, and of the data set forth in this Document. None of the Group, or its subsidiaries, shareholders or other affiliates, or any of their respective directors, officers, partners, employees, agents, representatives or advisors, make any representation or warranty, express or implied, as to the accuracy or completeness of this Document or the information contained in, or for any omissions from, this Document or any other written or oral communications transmitted to the recipient in the course of its evaluation of the Group. Only those particular representations and warranties, if any, which may be made to a party in a definitive written agreement, when, as and if executed, and subject to such limitations and restrictions as may be specified therein, will have any legal effect. In furnishing this Document, the Group does not undertake any obligation to provide the recipient with access to any additional information or to update this Document or to correct any inaccuracies therein which may become apparent. This Document shall neither be deemed an indication of the state or affairs of the Group nor constitute an indication that there has been no change in the state or affairs of the Group since the date thereof or since the dates as of which information is given in the Document. This Document contains certain statements, estimates, targets, forecasts and projections with respect to the Group, including certain financial forecasts. Any such information is subjective and would necessarily be prepared based upon certain assumptions and analysis of information available at the relevant time and may not prove to be correct. Accordingly, there is no representation, warranty or assurance of any kind, express or implied, that any such information will be correct or that any such statements, estimates, targets, forecasts or projections will be realized. This Document may also contain forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward looking statements through the use of words such as “may,” “will,” “can,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “seek,” “estimate,” “continue,” “plan,” “point to,” “project,” “predict,” “could,” “intend,” “target,” “potential” and other similar words and expressions of the future. For example, our Bitcoin discussion includes a number of forward-looking statements, such as our ability to borrow or raise capital to acquire Bitcoin, the future value of Bitcoin, our ability to close transactions previously announced or in the future to acquire Bitcoin, security of our Bitcoin holdings, our ability to issue our shares to acquire Bitcoin and related regulatory filings with the NYSE and SEC. These forward-looking statements are subject to risks and uncertainties that may cause actual future experience and results to differ materially from those discussed in these forward looking statements. Important factors that might cause such a difference include, but are not limited to, the timing, cost and uncertainty of the Group’s business initiatives and the Group's ability to develop and monetize its business. None of the members of the Group undertake any obligation to release any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. A PPE ND IX Disclaimer 2
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RE SUL TS 1H2026 at a Glance Consolidated results for the six months ended June 30, 2026, and treasury position as noted. RE VE NUE $20.2M up 29% YoY as reported G RO SS PRO FI T $6.1M up 17.5% YoY as reported G RO SS MAR GI N 30.4% down 300 bps YoY A DJUSTE D E BI TDA $1.2M consolidated, non-GAAP B ITCO IN HOL DI NG S 2,899 BTC as of the presentation date DI G ITA L A SSE T VA L UE $161.9M carrying value, June 30, 2026 L IQ UID ITY $21.6M cash + short-term investments as of the presentation date NE T DE BT $10.2M as of June 30, 2026 CA PI TAL A L LO CA TIO N Board-authorized 18-month share-repurchase program of up to US$10 million or 20% of outstanding Class A shares, whichever is low er. Approved July 1, 2026; the authorization creates flexibility, not an obligation. Adjusted EBITDA is a consolidated non-GAAP measure; see the reconciliation to net income/(loss) in the Appendix. Bitcoin holding s and liquidity are as of the presentation date. 3
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RE SUL TS Revenue and Gross Profit Six months ended June 30 · US$ millions $15.6M $20.2M $5.2M $6.1M 1H2025 1H2026 Revenue Gross profit RE VE NUE G ROW TH +29.0% $15.6M → $20.2M G RO SS PRO FI T G RO WTH +17.5% $5.2M → $6.1M G RO SS MAR GI N −300 bps to 30.4% Percentage changes as reported in US$. DDC’s reporting currency is RMB; US$ amounts are convenience translations. 4
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RE SUL TS From Revenue to Adjusted EBITDA 1H2026 consolidated · US$ millions $20.2M $6.1M $1.2M Revenue Gross profit Adj. EBITDA POSITIVE OPERATING LEVERAGE The food business scaled 29% while consolidated Adjusted EBITDA turned positive for the period. Revenue $20.2M Gross profit $6.1M Gross margin 30.4% Adjusted EBITDA $1.2M Adjusted EBITDA is a consolidated non-GAAP measure. See the reconciliation to net income/(loss) in the Appendix. 5
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RE SUL TS 1H2026 Operational and Financial Highlights OPERATIONAL Core Asian-food revenue grew 29% as retail penetration and distribution expanded. Channel mix shifted toward higher-volume formats, supporting scale while moderating gross margin. RE VE NUE $20.2M up 29% YoY G RO SS PRO FI T $6.1M up 17.5% YoY G RO SS MAR GI N 30.4% down 300 bps YoY A DJUSTE D E BI TDA $1.2M consolidated L IQ UID ITY $21.6M cash + short-term inv. NE T DE BT $10.2M as of June 30, 2026 RE VE NUE · US$ MI L LI ON S $15.6M $20.2M 1H2025 1H2026 A DJUSTE D E BI TDA · CO NSO L IDA TE D $1.2M Positive for the period. Liquidity is as of the presentation date; all other figures are as of, or for the six months ended, June 30, 2026. 6
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T RE ASUR Y Treasury and Capital Allocation KPIs TREAS URY POS ITIO N B ITCO IN HOL DI NG S 2,899 BTC as of the presentation date DI G ITA L A SSE T CA RRY I NG V A LUE $161.9M as of June 30, 2026 G RO WTH SI NCE DE C. 20 2 5 +145% growth in holdings CAPITA L RETU RN PRO GRAM CA SH + SHO RT -TE RM INV E STMENTS $21.6M as of the presentation date RE PUR CHA SE AUTHO RI ZA TIO N Up to $10M or 20% of Class A, whichever is lower A UTHOR IZ A TI ON WIN DO W 18 months approved July 1, 2026 Bitcoin holdings and liquidity are stated as of the presentation date; digital asset carrying value is as of June 30, 2026. 7
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T RE ASUR Y Capital Allocation Priorities Priorities in order: fund the operating business first, then deploy surplus capital. 01 Scale the core business Broaden retail penetration and distribution reach for the Asian-food platform. 02 Protect liquidity Preserve working capital for food- business scaling and prudent treasury deployment. 03 Evaluate Bitcoin purchases Assess against market conditions, balance-sheet liquidity, risk limits and expected per-share accretion. 04 Repurchase selectively Up to US$10 million or 20% of outstanding Class A shares, whichever is lower. The repurchase authorization creates flexibility, not an obligation. 8
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PL A T FOR M AI Operating Platform for Treasury Intelligence A governed, AI -driven operating system built to support management judgment. INTELLIGENCE Unifies treasury positions, flows and relevant market signals through the DDC Treasury Graph. DECISI ON QUALITY Structures analysis, timing and documentation for capital-allocation decisions. GOVERNANCE Applies Board-approved parameters and preserves full auditability. COMPOUNDING EDGE Captures each decision and outcome to improve future analysis. CURRENT PHASE Centralized visibility, structured decision evaluation, and market and macro monitoring. PLATFORM OPTIONALITY Designed to extend into financial risk, operations, investor analytics and selected software/IP. ANCHOR CAPABILITY BTC purchase signal intelligence. 9
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B RA ND Dishing Up Bitcoin The world’s first Bitcoin cooking show. WHY T HIS FO RMAT TRAVELS Visual storytelling Food preparation creates natural cinematic moments that work well in short-form clips and social distribution. Personal narratives Guests share their personal journeys, making conversations accessible beyond the core Bitcoin audience. Iconic guests Featuring leaders shaping the Bitcoin ecosystem creates highly shareable cultural moments. 10
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B RA ND Dishing Up Bitcoin: Season One EPISO DES TO BE RELEASED 12 RUNTIME PER EPISODE ~20 min ESTIMA TED GUEST REACH 10M+ MAIN MEDIA 11
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Appendix As of December 31,2025 (Audited) and June 30, 2026 (Unaudited) consolidated financial statements and non-GAAP reconciliation 12
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A PPE ND IX Consolidated Statement of Operations Unaudited · six months ended June 30 · RMB and US$ 2025 2026 2026 RMB RMB US$ Product revenues 111,909,938 136,747,757 20,154,126 Cost of products (74,575,130) (95,209,573) (14,032,155) Gross profit 37,334,808 41,538,184 6,121,971 Operating expenses Fulfilment expenses (2,877,103) (4,042,980) (595,862) Sales and marketing expenses (2,517,469) (4,820,391) (710,438) General and administrative expenses (14,304,907) (24,796,325) (3,654,526) Share-based compensation (3,151,323) (21,754,719) (3,206,249) Total operating expenses (22,850,802) (55,414,415) (8,167,075) Income/(loss) from operations 14,484,006 (13,876,231) (2,045,104) Interest expenses (1,173,379) (15,318,820) (2,257,715) Interest income 675,860 6,208,417 915,007 Foreign currency exchange gain/(loss), net (5,560) — — Other income 1,162,890 2,172,663 320,211 Unrealized gain/(loss) on digital assets 27,566,664 (232,541,989) (34,272,447) Income/(loss) before income tax expenses 42,710,481 (253,355,960) (37,340,048) Income tax expense (5,576,837) (7,288,227) (1,074,152) Net income/(loss) 37,133,644 (260,644,187) (38,414,200) 2025 2026 2026 RMB RMB US$ Net income/(loss) attributable to ordinary shareholders 37,133,644 (260,644,187) (38,414,200) Net income attributable to non-controlling interest 8,990,337 8,745,872 1,288,982 Other comprehensive income, net of nil income taxes Foreign currency translation adjustment (4,334,444) (7,916,256) (1,166,712) Net unrealized gains on available-for-sale debt securities 8,485,964 (972,717) (143,361) Total other comprehensive income 4,151,520 (8,888,973) (1,310,073) Comprehensive income/(loss) 41,285,164 (269,533,160) (39,724,273) Comprehensive income attributable to non- controlling interests 8,990,337 8,745,872 1,288,982 Comprehensive income/(loss) attributable to DDC Enterprise Limited 32,294,827 (278,279,032) (41,013,255) Net income/(loss) per ordinary share Basic and diluted — Class A 7.41 (7.91) (1.17) Basic and diluted — Class B — — — Weighted average ordinary shares outstanding Basic and diluted — Class A 3,798,369 34,072,617 34,072,617 Basic and diluted — Class B 875,000 1,750,000 1,750,000 13
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A PPE ND IX Consolidated Balance Sheet As of December 31,2025 (Audited) and June 30, 2026 (Unaudited) RMB and US$ Dec 31, 2025 Jun 30, 2026 Jun 30, 2026 RMB RMB US$ ASSETS Current assets Cash and cash equivalents 21,121,206 4,925,383 725,912 Restricted cash 16,828 — — Short-term investment 130,400,312 129,427,595 19,075,267 Accounts receivable, net 41,564,871 40,894,396 6,027,088 Inventories 8,229,291 9,344,044 1,377,142 Prepayments and other current assets 383,805,123 402,771,272 59,361,139 Total current assets 585,137,631 587,362,690 86,566,548 Non-current assets Property, plant and equipment, net 303,325 226,016 33,311 Operating lease right-of-use assets 8,581,133 7,474,341 1,101,582 Intangible assets, net 1,610,713 1,335,790 196,871 Goodwill 4,973,027 4,973,027 732,933 Digital assets 730,150,140 1,098,494,475 161,898,052 Other non-current assets 64,814,066 73,307,126 10,804,133 Total non-current assets 810,432,404 1,185,810,775 174,766,882 Total assets 1,395,570,035 1,773,173,465 261,333,430 Dec 31, 2025 Jun 30, 2026 Jun 30, 2026 RMB RMB US$ LIABILITIES Current liabilities Short-term bank borrowings 37,430,000 35,050,800 5,165,849 Current portion of long-term bank borrowings 549,012 608,033 89,613 Accounts payable 25,524,921 27,373,609 4,034,371 Contract liabilities 13,977,338 11,645,751 1,716,371 Shareholder loans, at amortized cost 23,207,757 21,449,891 3,161,323 Amounts due to related parties 8,160,511 5,413,606 797,867 Accrued expenses and other current liabilities 557,130,576 217,319,173 32,028,882 Current portion of lease liabilities 2,047,880 1,392,622 205,247 Total current liabilities 668,027,995 320,253,485 47,199,523 Non-current liabilities Long-term bank borrowings 3,876,918 3,486,980 513,917 Operating lease liabilities 6,405,503 5,942,889 875,873 Shareholder loans, at amortized cost 16,483,576 16,483,576 2,429,378 Convertible loans, at amortized cost 137,501,657 126,228,857 18,603,831 Deferred tax liabilities 1,264,873 1,264,873 186,419 Other non-current liabilities 10,405,554 10,405,554 1,533,589 Total non-current liabilities 175,938,081 163,812,729 24,143,007 14
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A PPE ND IX Consolidated Balance Sheet — Equity Continued · as of December 31,2025 (Audited) and June 30, 2026 (Unaudited) · RMB and US$ Dec 31, 2025 Jun 30, 2026 Jun 30, 2026 RMB RMB US$ Shareholders’ equity Class A ordinary shares¹ 65,584,619 126,326,916 18,618,284 Class B ordinary shares² 196,479 196,479 28,957 Convertible preferred shares 230,544,640 — — Additional paid-in capital 2,498,773,335 3,675,612,130 541,718,196 Accumulated deficit (2,171,283,787) (2,440,673,846) (359,710,814) Accumulated other comprehensive loss (125,758,629) (134,647,602) (19,844,601) Total shareholders’ equity attributable to DDC Enterprise Limited 498,056,657 1,226,814,077 180,810,022 Non-controlling interest 53,547,302 62,293,174 9,180,878 Total shareholders’ equity 551,603,959 1,289,107,251 189,990,900 Total liabilities and shareholders’ equity 1,395,570,035 1,773,173,465 261,333,430 1 US$0.4 par value per share; 200,000,000 shares authorized as of both December 31, 2025 and June 30, 2026; 23,281,620 and 4 5,627,607 shares issued and outstanding as of December 31, 2025 and June 30, 2026, respectively. 2 US$0.016 par value per share; 1,750,000 shares authorized, issued and outstanding as of both December 31, 2025 and June 30 , 2026. 15
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A PPE ND IX Consolidated Adjusted EBITDA Reconciliation Unaudited · six months ended June 30 · RMB and US$ Use of non-GAAP financial measures. Adjusted EBITDA is a non-GAAP financial measure. DDC defines Adjusted EBITDA as net income/(loss) excluding interest expense, interest income, income tax expense, impairment losses, depreciation and amortization, non-cash mark-to-market fair-value adjustments associated with financial instruments including Bitcoin holdings, and share-based compensation. It should not be considered in isolation or as a substitute for a U.S. GAAP performance measure. 2025 2026 2026 RMB RMB US$ Net income/(loss) 37,133,644 (260,644,187) (38,414,200) Add: Income tax expense 5,576,837 7,288,227 1,074,152 Interest expenses 1,173,379 15,318,820 2,257,715 Interest income (675,860) (6,208,417) (915,007) Foreign currency exchange loss, net 5,560 — — Other income (1,162,890) (2,172,663) (320,211) Unrealized (gain)/loss on digital assets (27,566,664) 232,541,989 34,272,447 Depreciation and amortization 868,908 261,982 38,611 Share-based compensation 3,151,323 21,754,719 3,206,249 Adjusted EBITDA 18,504,237 8,140,470 1,199,756 16
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Thank You NY SE America n: DDC LinkedIn X 17