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Disclaimer:

This content contains statements of opinion, including but not limited to, Coinbase AM’s analysis and views with respect to: digital assets, projected inflation, macroeconomic policy, the market adoption of digital assets, and the market in general. Statements of opinion herein have been formulated using Coinbase AM’s experience, research, and/or analysis, however, such statements also contain elements of subjectivity and are often subjective in nature. Nothing in this presentation represents a guarantee of any future outcome.

Certain information herein constitutes "forward-looking statements," which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe" or the negatives thereof or other variations thereon or comparable terminology. Forward-looking statements made are based on current expectations, speak only as of the date of this meeting or presentation, as the case may be, and are susceptible to a number of risks, uncertainties and other factors. Although we believe that the assumptions underlying the projected results and forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this presentation will prove to be accurate.

This communication may contain statements of opinion, including but not limited to, the author’s analysis and views with respect to: digital assets, projected inflation, macroeconomic policy, and the market in general. Statements of opinion herein have been formulated using the author’s experience, research, and/or analysis, however, such statements also contain elements of subjectivity and are often subjective in nature. In addition, when conducting the analyses on which it bases statements of opinion, the author(s) will incorporate assumptions, which in some cases may be shown to be inaccurate in the future, including in certain material respects. Nothing in this presentation represents a guarantee of any future outcome. The author(s) are under no obligation to update this document, notify any recipients, or re-publish the content contained herein in the event that any factual assertions, assumptions, forward-looking statements, or opinions are subsequently shown to be inaccurate.

There is no guarantee that the investment objectives will be achieved. Moreover, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.