SatoshiPay Update

Blue Star Capital plc (AIM: BLU), the investing company with a focus on blockchain, payments and esports, announces (i) SatoshiPay's drawdown of the secured loan provided by the Company; and (ii) confirmation that SatoshiPay has met the second set of milestones with respect to the grant issued by The Web3 Foundation ("Web3").

Drawdown of the Secured Loan

On 28 July 2025, SatoshiPay Ltd ("SatoshiPay") drew down £1,000,000 of the secured loan facility (the "Loan") provided by the Company.

In the announcement of 2 July 2025, the Company stated that a minimum of £1,000,000 would be used to invest into SatoshiPay by way of the Loan, in order for SatoshiPay to increase its existing digital asset treasury function, with the Loan secured against the value of the treasury assets. Blue Star will retain the full benefit of any increase in value of the portfolio and by providing the Loan, as the largest shareholder, Blue Star will benefit from the growth of SatoshiPay whilst maintaining security over the funds lent via a lien granted against any crypto assets purchased.

The Company will provide further information to the market once these funds have been fully invested by SatoshiPay.

Second Web3 Grant Milestone Achieved

Further to the above, Vortex, a decentralised exchange platform incubated by SatoshiPay designed to streamline global payments by bridging stablecoins with local fiat currencies, has now met the second set of milestones set out under the grant structure with Web3, a foundation developed to promote emerging decentralized web software protocols, technologies, and applications. These milestones included:

• Launching Vortex in key markets, such as Brazil; and
• Establishing a Polkadot offramp via Pendulum's Spacewalk bridge to enable USDC-to-fiat swaps.

As a result, SatoshiPay expects to receive the next tranche of non-dilutive grant funding of approximately US$130,000 in the near future.

Following Vortex achieving the second set of milestones within its anticipated timeline, SatoshiPay remains well positioned to advance its product roadmap and continue scaling Vortex into target markets.

Tony Fabrizi, Executive Chairman of Blue Star said, "We are delighted that SatoshiPay and Blue Star have completed all necessary legal and corporate structural arrangements to allow SatoshiPay to drawdown the Loan and expand its digital asset treasury operations.

"These funds together with those provided via the recent Web3 grant put SatoshiPay in an excellent position to build Vortex so it can gain increased market traction."

The Company currently has a 50 per cent. shareholding in SatoshiPay.

The Directors of the Company take responsibility for this announcement.