Abaxx Provides Q1 Corporate Update - Seite 2

Strategic Financing: Closed equity private placement as previously announced on January 10, 2024 with Abaxx’s first group of strategic investors including Cboe, TLW, and Traxys.

Abaxx Console Apps and ID++ Protocol: Continued to advance design and development work on prototypes and advanced foundational productization. Held our first private demo day, reviewing our full slate of product applications and prototypes. Advanced work on prototyping processes and tooling for a novel, privacy-preserving deployment of Large Language Model (LLMs) applications within the Abaxx Console Suite using ID++.

Last quarter included the completion of multiple critical milestones toward the launch of Abaxx Exchange and Clearinghouse, including the grant of an Approved Clearinghouse (“ACH”) license and Recognised Market Operator (“RMO”) license to Abaxx Singapore’s fully owned subsidiaries, Abaxx Clearing and Abaxx Exchange, respectively, as announced on December 7th, 2023. The Company’s ongoing efforts continue around technological advancements, regulatory engagements and expanding Abaxx’s market presence to offer smarter markets for transition-related commodities with better tools to manage risk.

The following provides a detailed update on these developments.

Abaxx Exchange and Abaxx Clearing Developments

Risk and Regulatory: The remaining regulatory licensing processes were successfully completed in Q4, leading to the grant of MAS licenses in early December 2023. Teams completed internal default management drill; margins and guaranty fund frameworks shared with clearing members.

Commercial: Last quarter, commercial activities remained active across Clearing Members, Trading Firms and Brokers for all three product asset classes. Clearing firms are now in User Testing across our Abaxx Exchange systems and have completed Abaxx-provided product knowledge workshops with special attention paid to the physical settlement attribute of Abaxx Exchange futures. Trading firms are working with their Clearing firms to ensure connectivity for Day 1 trading. Commercial teams are working to onboard global inter-dealer brokers and conducted numerous demo sessions of the Abaxx “Block Trade Registration Platform” for brokers in Houston, London, New York and Singapore. The Abaxx commercial team has also increased the frequency of market workshops leading up to launch, with the intent of growing the understanding of our innovative markets. Their upcoming “roadshow”' will include co- sponsored events with leading market Clearing firms, Brokers and Price reporting agencies. It will include a mix of in person and online sessions.