Monthly Update

Satsuma Technology PLC (LSE: SATS), the UK Main Market listed Bitcoin treasury company, today publishes the first in a series of monthly Fact Packs providing shareholders and the market with a transparent, standardised snapshot of the Company's financial position and Bitcoin treasury.

Commitment to Monthly Disclosure

The Board has resolved to publish a Fact Pack via RNS on or around the first business day of each calendar month, commencing with this announcement. Each Fact Pack will report data as at the last business day of the preceding month and will include the key financial and treasury metrics set out below.

The Board believes that regular, standardised disclosure is essential for a company whose primary asset is Bitcoin. Investors in listed Bitcoin treasury companies - including Strategy Inc. (NASDAQ: MSTR) and Metaplanet Inc. (TSE: 3350), each of which provide regular treasury updates to the market - have come to expect a consistent and timely flow of information that allows them to assess treasury performance, capital efficiency and operational discipline. The Company intends to meet and potentially exceed that standard.

This monthly disclosure is intended to provide the information investors need to model the Company's position accurately, remove information asymmetry as a source of any discount to net asset value, and demonstrate the Board's commitment to transparency and disciplined stewardship of shareholder capital.

April 2026 Highlights

April 2026 was a month of significant operational and strategic progress for Satsuma:

• Bitcoin accumulation. The Company acquired 48.42 BTC across two purchases during the month, taking total holdings to 668.48 BTC, all funded from existing cash reserves with no debt or leverage
• Cost reduction programme. The Company announced an initial annualised cost saving of approximately £4.2m, (62%), reducing the Group's cost base from approximately £6.7m to approximately £2.7m, with further reductions identified and being implemented (see below)
• Board strengthening. Nicholas Lee and Patrick Dean were appointed as Non-Executive Directors, bringing additional public company and capital markets experience to the Board
• Auditor appointment. PKF Littlejohn LLP was appointed as the Company's auditor for the financial year ended 28 February 2026

Cost Reduction Update

Further to the cost reduction programme announced on 2 April 2026, the Board has continued to review the Company's cost base and has identified additional annualised costs of approximately £0.5m which it intends to remove over the coming months. These additional savings, alongside previously identified cost savings, are expected to reduce the Company's annualised operating expenditure by approximately £4.5m of a net basis, resulting in a cost base of approximately £2.2m. The Board will provide further updates as these initiatives are implemented and their review continues.

May 2026 Fact Pack

The following data is presented as at 30 April 2026.

Bitcoin Treasury

Unvested share options outstanding: 392,136,507 (not in-the-money and excluded from Fully Diluted Share Count).

Net Asset Value

Notes: NAV comprises the market value of the Company's Bitcoin holdings (£37.50m) plus cash and cash equivalents, totalling £41.85m. The Company has no debt or other material liabilities. mNAV is calculated as basic market capitalisation divided by NAV. BTC Yield is the percentage change in BTC per share over the relevant period; the Company's Ordinary Shares in issue have been unchanged since December 2025.

Operations

The Company's technology operations have historically been conducted on the Bittensor network. As part of the revised Board's operational review, the Company is now evaluating opportunities to reorient its operational activities toward the Bitcoin ecosystem, with an initial focus on the Lightning Network - Bitcoin's principal layer-2 protocol for fast, low-cost payments. The Board believes that aligning operational capability with the Company's core treasury asset creates a more coherent investment proposition and a stronger foundation for generating Bitcoin-denominated revenue. Further updates will be provided as these initiatives progress.

Ranald McGregor-Smith, Executive Chairman of Satsuma, comments "April marked an important month of execution for Satsuma. We delivered a substantial cost reduction programme, strengthened the Board, appointed PKF Littlejohn as auditor, and continued the disciplined accumulation of Bitcoin from existing cash reserves. The introduction of this monthly Fact Pack reinforces our commitment to transparency and to providing shareholders with the information they need to assess the Company's performance."

Publication Schedule

Future Fact Packs will be published via RNS on or around the first business day of each calendar month.

The Company will also make each Fact Pack available on its investor relations website at https://www.satsuma.digital/investors.