Capital B confirms the acquisition of 551 BTC for EUR 54.7 million, the holding of a total of 2,800 BTC, and a BTC Yield of 1,651.2% YTD

• Final completion of the capital increase at €2.24 per share, for an amount of €2.2 million, fully subscribed by Adam Back, announced on August 18, 2025, enabling the acquisition of 21 BTC for €2.1 million
• Final completion of the capital increase at €1.55 per share, through an Accelerated Bookbuilding process, for an amount of €58.1 million, announced on September 16, 2025, enabling the acquisition of 530 BTC for €52.6 million
• Conservative integration in the Company's fully diluted basis of the shares that may be issued as a result of potential future BSA exercise and legal adjustment measures subscription for OCA A-01 and B-01 holders. Any potential future exercise of existing BSA or legal adjustment measures announced by the Company will thus result in no additional share added to the fully diluted basis
• 'BTC Yield' of 1,651.2 % YTD and 27.8 % QTD
• 'BTC Gain' of 660.5 BTC YTD and 496.3 BTC QTD
• 'BTC € Gain' of €65.6 million YTD and €49.3 million QTD
• Total group holdings of 2,800 BTC for €261.0 million at €93,205 per bitcoin

Puteaux, September 15, 2025: Capital B (The Blockchain Group, ISIN: FR0011053636, ticker: ALCPB) (the "Company"), listed on Euronext Growth Paris, Europe's first Bitcoin Treasury Company, holding subsidiaries specialized in Data Intelligence, AI, and decentralized technology consulting and development, confirms the final completion of the capital increase at €2.24 per share, for an amount of €2.2 million, fully subscribed by Adam Back, announced on August 18, 2025, enabling the acquisition of 21 BTC for €2.1 million. The Company also announces the final completion of the capital increase at €1.55 per share, through an Accelerated Bookbuilding process, for an amount of €58.1 million, announced on September 16, 2025, enabling the acquisition of 530 BTC for €52.6 million. Since the beginning of the year, the Group has achieved a 'BTC Yield' of 1,651.2%, a 'BTC Gain' of 660.5 BTC, and a 'BTC € Gain' of €65.6 million. As of today, Capital B and its subsidiary The Blockchain Group Luxembourg SA hold a total of 2,800 BTC, with an acquisition value of €261.0 million, based on an average price of €93,205 per bitcoin. The Company thus reinforces its Bitcoin accumulation strategy while continuing to develop the operational activities of its subsidiaries. A presentation explaining the Company's Bitcoin Treasury Company strategy focused on increasing bitcoin per fully diluted share over time is available on its website: https://cptlb.com/about/who-we-are/

Final completion of previously announced operations

On August 18, 2025, the Company announced its decision, using the delegated authority granted by the shareholders' meeting held on June 10, 2025, under the terms of its 12th resolution, on a issuance, without shareholders' preferential subscription rights, of 1,000,000 new ordinary shares of the Company, fully subscribed by Adam Back at a price of €2.238 per share, issuance premium included.

The Company hereby confirms the final completion of the operation, resulting in the waiver of shareholders' preferential subscription rights in favor of Adam Back, in the proportions set out below:

Investor	Number of shares	Amount (€)
Adam Back	1,000,000	€2,238,000
TOTAL	1,000,000	€2,238,000

On September 16, 2025, the Company announced the realization of a capital raise via Private Placement, through an accelerated bookbuilding process, for an amount of €58,137,536.40, as part of a share capital increase without shareholders' preferential subscription rights in an offer to qualified investors under Articles L. 225-136 of the French Commercial Code and L. 411-2 1° of the French Monetary and Financial Code, pursuant to the delegation of authority granted to the Board of Directors under the General Meeting Resolution. The Private Placement was carried out through the issuance of 37,508,088 new ordinary shares of the Company, at an issue price of €1.55.

The Company hereby confirms the final completion of the operation, resulting in the issuance of 37,508,088 new ordinary shares of the Company, at an issue price of €1.55.

Impact of the operations on the distribution of the Company's share capital

The impact of the final completion of the operations described above on the distribution of the Company's share capital is as follows:

	Situation as of Sept. 22, 2025		Fully diluted basis (*)
Shareholders	Number of shares	% capital	Number of shares	% capital
Executives	12,030,185	5.62%	21,873,863	5.61%
Fulgur Ventures	10,000,000	4.67%	155,588,780	39.91%
Adam Back	36,157,228	16.89%	37,412,138	9.60%
TOBAM	11,542,727	5.39%	15,248,681	3.91%
UTXO Management	-	0.00%	8,529,769	2.19%
Peak Hodl Ltd	2,500,000	1.17%	2,500,000	0.64%
Public & Institutional	141,907,245	66.27%	148,671,191	38.14%
TOTAL	214,137,385	100%	389,824,422	100%

(*) Calculations made on the basis of the number of shares composing the Company's share capital as of press release time, adding the shares resulting from (i) the conversion of all OCA issued or announced, (ii) the conversion of the BSA 2025-01 announced to date and the issuance under the adjustment measures for the benefit of OCA Tranche 1 holders issued or exercised to date, and (iii) the issuance of Free Shares whose allocation to certain of its employees and corporate officers has been decided, which have not yet been definitively vested by their beneficiaries, the number of which amounts to 1,880,000 as of the date of this press release and is included in the fully diluted basis of the Managers. The Company indicates that the fully diluted basis includes, conservatively, the potential addition of shares to its share capital resulting (i) from the conversion of the BSA 2025-01 issued as announced on April 7, 2025 and not yet exercised to date, and (ii) from adjustment measures for the benefit of OCA A-01 and B-01 holders not yet exercised. The Company also reminds that the fully diluted basis does not include the shares that may correspond to the unsubscribed amounts to date of the €300 million of capital increases authorized in favor of TOBAM.

The Company indicates that it has, on a conservative basis, included in the fully diluted share basis the shares that may be issued upon potential future exercise of BSA 2025-01 and of potential future subscription of legal adjustment measures for OCA A-01 and B-01 holders. Consequently, any potential future exercise of existing BSA or legal adjustment measures announced by the Company will result in no additional share added to the fully diluted basis.

Expansion of the Company's bitcoin holdings

Capital B announces the final completion of the acquisition of an additional 551 BTC using the proceeds from the final completion of the operations described above, as part of the continuation of its Bitcoin Treasury Company strategy.

Banque Delubac & Cie (DASP registered with the AMF), executed the acquisition of the BTC using the proceeds from the capital increase operation subscribed by Adam Back, and was entrusted with their secure custody via the technological solution of Swiss company Taurus, a world leader in infrastructures for digital assets.

Swissquote Bank Europe SA, a virtual asset service provider (VASP) registered with the Luxembourg regulator (CSSF), executed the acquisition of the BTC using the proceeds from the Accelerated Bookbuilding operation, and was entrusted with their secure custody via the technological solution of Swiss company Taurus.

Detail of the Group's BTC acquisitions:

Reported Date	BTC Acquisition	BTC Acquisition € Cost Basis	Total BTC Holdings	Total BTC € Cost Basis	Total BTC € Cost	Total BTC € Net Asset Value
September 22, 2025	551	€99,272	2,800	€93,205	€260,972,853	€277,962,677
September 15, 2025	48	€98,575	2,249	€91,718	€206,273,769	€221,695,332
August 11, 2025	126	€98,746	2,201	€91,568	€201,542,166	€217,339,641
August 5, 2025	62	€99,889	2,075	€91,133	€189,100,187	€207,269,347
July 28, 2025	58	€102,211	2,013	€90,863	€182,907,079	€205,751,541
July 21, 2025	22	€101,112	1,955	€90,526	€176,978,818	€197,674,331
July 14, 2025	29	€95,225	1,933	€90,406	€174,754,350	€184,069,828
July 7, 2025	116	€92,175	1,904	€90,332	€171,992,827	€175,501,059
June 30, 2025	60	€91,879	1,788	€90,213	€161,300,535	€164,280,027
June 23, 2025	75	€91,792	1,728	€90,155	€155,787,783	€158,616,662
June 17, 2025	182	€93,264	1,653	€90,081	€148,903,379	€154,165,568
June 2, 2025	624	€96,447	1,471	€89,687	€131,929,311	€141,874,161
May 22, 2025	227	€93,518	847	€84,706	€71,746,119	€79,209,857
March 26, 2025	580	€81,550	620	€81,480	€50,517,503	€50,560,770
December 4, 2024	25	€90,511	40	€80,468	€3,218,718	€3,261,985
November 5, 2024	15	€63,729	15	€63,729	€955,941	€1,223,244

Note: Total BTC € Net Asset Value is based on the acquisition cost by BTC of the latest acquisition as of the date of this press release.

Achievement of a 'BTC Yield' of 1,651.2% YTD and 27.8% QTD

The Group has achieved a 'BTC Yield' of 1,651.2% YTD and 27.8% QTD. Details are as follows:

Year To Date (YTD):

Reported Date	Total BTC Holdings	Issued Common Shares	Fully Diluted Shares1	BTC (sats) per Fully Diluted Share2	'BTC Yield' YTD3	'BTC Gain' YTD	'BTC € Gain' YTD
September 22, 2025	2,800	214,137,385	389,824,422	718	1,651.2%	660.5	€65,568,199
September 15, 2025	2,249	175,629,297	334,949,647	671	1,536.6%	614.6	€60,587,604
August 11, 2025	2,201	163,110,297	331,180,647	664	1,519.5%	607.8	€60,018,216
August 5, 2025	2,075	156,767,494	326,958,884	634	1,446.3%	578.5	€57,789,350
July 28, 2025	2,013	156,767,494	325,180,839	619	1,409.8%	563.9	€57,637,256
July 21, 2025	1,955	155,133,905	323,547,250	604	1,373.2%	549.3	€55,537,720
July 14, 2025	1,933	135,400,845	320,990,295	602	1,368.3%	547.3	€52,118,241
July 7, 2025	1,904	134,661,845	320,251,295	594	1,348.8%	539.5	€49,729,497
June 30, 2025	1,788	134,461,545	318,109,554	562	1,270.7%	508.3	€46,701,530
June 23, 2025	1,728	130,170,510	316,207,689	546	1,231.7%	492.7	€45,224,376
June 17, 2025	1,653	126,728,969	316,207,689	522	1,173.2%	469.3	€43,765,888
June 2, 2025	1,471	108,862,920	299,355,400	491	1,097.6%	439.0	€42,342,772
May 22, 2025	847	102,174,488	214,500,356	394	861.0%	344.4	€32,206,732
March 26, 2025	620	93,384,449	186,413,170	332	709.8%	283.9	€23,152,139
December 4, 2024	40	93,384,449	95,264,449	41	141.2%	21.2	€1,916,705
November 5, 2024	15	85,051,121	85,051,121	17

Quarter To Date (QTD):

Reported Date	Total BTC Holdings	Issued Common Shares	Fully Diluted Shares1	BTC (sats) per Fully Diluted Share2	'BTC Yield' QTD3	'BTC Gain' QTD	'BTC € Gain' QTD
September 22, 2025	2,800	214,137,385	389,824,422	718	27.8%	496.3	€49,270,192
September 15, 2025	2,249	175,629,297	334,949,647	671	19.4%	346.8	€34,184,150
August 11, 2025	2,201	163,110,297	331,180,647	664	18.1%	324.5	€32,044,262
August 5, 2025	2,075	156,767,494	326,958,884	634	12.8%	229.1	€22,881,299
July 28, 2025	2,013	156,767,494	325,180,839	619	10.1%	181.3	€18,535,546
July 21, 2025	1,955	155,133,905	323,547,250	604	7.5%	133.6	€13,510,891
July 14, 2025	1,933	135,400,845	320,990,295	602	7.1%	127.3	€12,118,307
July 7, 2025	1,904	134,661,845	320,251,295	594	5.7%	101.8	€9,384,129
June 30, 2025	1,788	134,461,545	318,109,554	562	69.3%	429.5	€39,463,781

1. The number of shares on a fully diluted basis includes (i) the total number of ordinary shares outstanding, (ii) the shares that would be issued upon the full conversion of all currently issued convertible bonds of the Company, and (iii) the free shares granted. The Company precises that the number of fully diluted shares is adjusted to reflect only fully completed operations to date (i.e., excluding ongoing operations), and conservatively includes the shares that may be issued as a result of potential future BSA exercise and legal adjustment measures subscription for OCA A-01 and B-01 holders. Consequently, any potential future exercise of BSA or adjustment measures announced by the Company will result in no additional share added on a fully diluted basis.
2. BTC per Fully Diluted Share is calculated by dividing Total BTC Holdings by the Fully Diluted Shares outstanding at the end of each period. The result is then expressed as satoshis (sats) per Fully Diluted Shares outstanding, rounded down. There are 100,000,000 sats in 1 BTC. Each sat represents 0.00000001 BTC, the smallest unit of bitcoin.
3. The BTC Yield takes into account a fully diluted basis that includes the shares that may be issued as a result of potential future exercise of BSA and legal adjustment measures subscription for OCA A-01 and B-01 holders, reflecting a conservative view of the number of BTC per share on a fully diluted basis. As a result, any future BTC acquisition related to these types of transactions will result in an increase in the number of BTC held with no additional share added on a fully diluted basis.

Important information about 'BTC Yield', 'BTC Gain', and 'BTC € Gain' KPIs

The Company uses 'BTC Yield', 'BTC Gain' and 'BTC € Gain' as indicators to monitor its Bitcoin Treasury Company strategy. These indicators illustrate the manner in which the Company finances the acquisition of bitcoin in a given period by:

• 'BTC Yield': indicator reflecting the percentage change in the ratio of Total BTC Holdings to Fully Diluted Shares outstanding over a given period;
• 'BTC Gain': indicator that represents the number of BTC held by the Company at the beginning of a period multiplied by the 'BTC Yield' for such period; and
• 'BTC € Gain': indicator representing the euro value of the 'BTC Gain' calculated by multiplying the 'BTC Gain' by the acquisition cost per BTC of the last acquisition of the applicable period. The Company has selected the last acquisition of the applicable period to determine the market price of bitcoin solely for the purpose of facilitating this illustrative calculation.

These indicators will be communicated periodically by the Company as part of its Bitcoin Treasury Company strategy, notably on a half-yearly and annual basis.

When the Company uses these KPIs, it also takes into account the various limitations of these metrics, including that they do not take into account debt and other liabilities and claims on company assets that would be senior to common equity, and that these indicators assume that all indebtedness will be refinanced or, in the case of the Company's (or its subsidiaries') convertible debt instruments, converted into shares of common stock in accordance with their respective terms.

Additionally, 'BTC Yield' is not, and should not be understood as, an operating performance measure or a financial or liquidity measure. In particular, 'BTC Yield' is not equivalent to "yield" in the traditional financial context. It is not a measure of the return on investment the Company's shareholders may have achieved historically or can achieve in the future by purchasing stock of the Company, or a measure of income generated by the Company's operations or its bitcoin holdings, return on investment on its bitcoin holdings, or any other similar financial measure of the performance of its business or assets. 'BTC Gain' and 'BTC € Gain' are not, and should not be understood as, operating performance measures or financial or liquidity measures. In particular, 'BTC Gain' and 'BTC € Gain' are not equivalent to "gain" in the traditional financial context. They also are not measures of the return on investment the Company's shareholders may have achieved historically or can achieve in the future by purchasing stock of the Company, or measures of income generated by the Company's operations or its bitcoin holdings, return on investment on its bitcoin holdings, or any other similar financial measure of the performance of its business or assets. It should also be understood that 'BTC € Gain' does not represent a fair value gain of the Company's bitcoin holdings, and 'BTC € Gain' may be positive during periods when the Company has incurred fair value losses on its bitcoin holdings.

The trading price of the Company's common stock depends on numerous factors in addition to the quantity of bitcoins the Company holds and number of actual or potential shares of its stock outstanding, and as a result, the market value of the Company's shares may trade at a discount or a premium relative to the market value of the bitcoin the Company holds, and neither 'BTC Yield', 'BTC Gain' nor 'BTC € Gain' are indicative or predictive of the trading price of the Company's securities.

As noted above, these KPIs are narrow in their purpose and are used by the Company to assist it in assessing the use of the equity capital, as it pertains to its bitcoin holdings only.

The Company's ability to achieve positive 'BTC Yield', 'BTC Gain', or 'BTC € Gain' may depend on a variety of factors, including its ability to generate profits in excess of its fixed charges and other expenses, as well as factors outside of its control, such as the price of bitcoin, and the availability of financing on favorable terms. Past performance is not indicative of future results.

The presentation of these KPIs does not imply any intention to pay dividends on its common shares in the future. Holding the Company's common shares does not equate to direct ownership of the Bitcoin held by the Company. Investors should rely on the financial statements and other disclosures by the Company. These KPIs are only intended as supplemental metrics for those who understand their purpose and limitations, not as replacements for traditional financial analysis.

Risk factors

The Company reminds that the risk factors related to the Company and to its business are detailed in its 2024 annual financial report, available for free on the Company's website (https://www.cptlb.com). The realization of all or part of these risks could negatively impact the Company's operations, financial position, results, development, or outlook.

* * *

About Capital B (ALCPB) Capital B is a Bitcoin Treasury Company listed on Euronext Growth Paris, specialized in Data Intelligence, AI, and Decentralized Tech consulting and development.

EURONEXT Growth Paris Ticker: ALCPB ISIN: FR0011053636 Reuters: ALCPB.PA Bloomberg: ALCPB.FP Contact: [e-mail]

Contacts - Actus Finance & Communication
Investor relations Mathieu Calleux [e-mail]	Press relations Anne-Charlotte Dudicourt [e-mail] - [phone] Céline Bruggeman [e-mail] - [phone]
Capital B press releases are available on: Financial information - Capital B To receive all press releases free of charge, register with Actusnews

Important Notice

This announcement is not an advertisement and not a prospectus within the meaning of the Prospectus Regulation.

The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. No action has been taken that would permit an offering of the New Shares or possession or distribution of this announcement in any jurisdiction where action for that purpose is required.

This announcement and the information contained herein is for information purposes only and does not constitute or form part of an offer for sale or solicitation of an offer to purchase or subscribe for securities in the United States or any other jurisdiction. The New Shares referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or under the applicable securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, in or into the United States absent registration under or an exemption from, or in transaction not subject to, the registration requirements of, the Securities Act and the securities laws of any relevant state or other jurisdiction of the United States. No public offering of securities is being made in the United States or in any other jurisdiction. The New Shares have been being offered and sold (i) in the United States only to a limited number of qualified institutional buyers ("QIBs") as defined in Rule 144A under the Securities Act, in reliance upon the exemption from the registration requirements of the Securities Act and/or institutional "accredited investors" within the meaning of Rule 501(a)(1), (2), (3), (7), (8), (9), (12) or (13) of Regulation D of the Securities Act pursuant to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act; and (ii) outside the United States in offshore transactions in accordance with, and in reliance on, Regulation S under the Securities Act.

The New Shares have not been approved or disapproved by the US Securities and Exchange Commission, any state securities commission or any other regulatory authority of the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the Private Placement or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offense in the United States.

This press release is only directed at persons in the United Kingdom that (i) are "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the "Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations, etc.") of the Order, or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of Article 21 of the Financial Services and Markets Act 2000) in connection with the issuance or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). This press release is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

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