Metalpha Reports Preliminary First Half of 2022 Unaudited Results.

HONG KONG: Metalpha Technology Holding Limited (NASDAQ: MATH) (the "Company" or "Metalpha"), a digital assets service provider, today announced its preliminary unaudited financial results for the six-month period ended September 30, 2022 (the "1H 2023").

In 1H 2023, the Company's revenue from fair value change of proprietary trading digital assets (Trading Revenue)grew by more than 3,000% against the six-month period ended March 31, 2022 ("2H 2022"), rising from just over $122,000 in 2H 2022 to approximately $3.9 million in 1H 2023. The Company has also seen substantial growth of over 300% in its aggregate notional amount of derivative products issuance from about $48.9 million in 2H 2022 to about $198 million in 1H 2023, showing robust demand from Metalpha's global customer base, which includes crypto and blockchain mining companies, institutional investors and family offices. Trading revenue and derivative product issuance are key metrics Metalpha analyzes in evaluating its business scale and success.

FINANCIAL HIGHLIGHTS

Comparison of 2H 2022 with 1H 2023

Derivative Product Issuance

The aggregate notional amount of derivative products' issuance in 1H 2023 was approximately $198 million, compared to $48.9 million in 2H 2022, an increase of more than 300%.

Time Period

2H 2022

1H 2023

Derivative Product Issuance

$48.9 million

~$198 million

Trading Revenue

The revenue from fair value change of proprietary trading digital assets grew by more than 3,000%, rising from just over $122,000 in 2H 2022 to approximately $3.9 million in 1H 2023.

Time Period

2H 2022

1H 2023

Trading Revenue

$122,000

~$3.9 million

Total Revenue from Continuing Operation

The total revenue from continuing operations for 1H 2023 was approximately $3.9 million, compared to the total revenue of $0.92 million for 2H 2022, an increase of over 320%.

Time Period

2H 2022

1H 2023

Total Revenue from Continuing

Operation

$0.92 million

~$3.9 million

Gain/(Loss) from Continuing Operation

The gain from continuing operation of 1H 2023 was...