HIVE Digital Technologies Ltd. (formerly, HIVE Blockchain Technologies Ltd.) Condensed Interim Consolidated Financial Statements For the three months ended June 30, 2023 and 2022 (Expressed in US dollars) (Unaudited) HIVE Digital Technologies Ltd. (formerly, HIVE Blockchain Technologies Ltd.) Condensed Interim Consolidated Statements of Financial Position (Expressed in US dollars unless otherwise indicated) (Unaudited) | | | | June 30, | | March 31, | | --- | --- | --- | --- | --- | --- | | | Notes | | 2023 ...

DISCLOSURES TODAY'S PRESENTERS MACRO RECAP Standard Deviation For One Year, as of December 31, 2022 S&P 500 ±2% ±4% HIVE Blockchain Technologies Ltd. ±6% ±19% Q3 F2023 Results Webcast Quarter Ended December 31, 2022 2 3 HIVE NasdaqListed Gold Bullion ±1% ±3% Tesla ±4% ±13% DNA OF VOLATILITY UNDERSTANDING RISK OUR STRATEGY What unique value do we bring? How do we sustain our unique value? Frank Holmes Executive Chairman Aydin Kilic President & CEO Gabriel Ibghy General Counsel To go public September 2017 1st ...

Revenue and Financial Performance - Revenue from digital currency mining for the three months ended December 31, 2022, was $14.3 million, a significant decrease from $68.2 million in the same period in 2021[3] - Net loss for the three months ended December 31, 2022, was $90.0 million, compared to a net income of $51.2 million in the same period in 2021[3] - Net loss for the nine months ended December 31, 2022, was $222.3 million, compared to a net income of $113.6 million in the same period in 2021[5] - The company's revenue from digital currency mining for the nine months ended December 31, 2022, was $88,093,816, a decrease from $158,042,263 in the same period in 2021[123] - Basic loss per share for the three months ended December 31, 2022, was $1.09, compared to a basic income per share of $0.66 in the same period in 2021[3] - Net income for the period was restated from $137,598,748 to $113,593,813, with basic income per share adjusted from $0.36 to $1.49[128] Asset and Liability Changes - Total assets decreased from $452.3 million as of March 31, 2022, to $189.4 million as of December 31, 2022[2] - Digital currencies held by the company decreased from $170.0 million as of March 31, 2022, to $39.0 million as of December 31, 2022[2] - Total equity decreased from $389.1 million as of March 31, 2022, to $140.9 million as of December 31, 2022[2] - Accumulated deficit increased from $60.2 million as of March 31, 2022, to $304.7 million as of December 31, 2022[2] - The company's cash balance at the end of December 31, 2022, was $8.6 million, down from $63.6 million at the end of December 31, 2021[5] - Total digital currencies held by the company decreased to $38,952,964 as of December 31, 2022, from $170,000,412 on March 31, 2022, with Bitcoin holdings dropping to $38,864,138 from $117,669,390[31] - Liability component balance decreased from $5,599,006 on March 31, 2022, to $4,966,094 on December 31, 2022, due to principal and interest payments[42] - Derivative component balance significantly decreased from $4,986,354 on March 31, 2022, to $92,343 on December 31, 2022, due to changes in fair value[43] - Total loan balances decreased from $15,692,339 on March 31, 2022, to $14,165,317 on December 31, 2022, primarily due to foreign exchange movements[46] - Term loan balance decreased from $9,375,244 on March 31, 2022, to $7,552,744 on December 31, 2022, due to repayments and foreign exchange movements[49] - Right of use asset carrying amount decreased from $12,587,882 on March 31, 2022, to $11,167,807 on December 31, 2022, due to depreciation and foreign exchange movements[51] - Lease liability balance decreased from $12,649,194 on March 31, 2022, to $8,204,504 on December 31, 2022, due to lease payments and foreign exchange movements[52] Impairment and Depreciation - Impairment of miner equipment for the three months ended December 31, 2022, was $38.8 million, with no impairment recorded in the same period in 2021[3] - The company recorded an impairment charge of $71,416,760 on its equipment for the nine months ended December 31, 2022, due to the Ethereum blockchain merge and downturn in digital currency prices[33] - Equipment deposits decreased to $37,108,373 as of December 31, 2022, from $57,567,943 on March 31, 2022, with a provision for impairment of $22,653,287 recorded during the three months ended December 31, 2022[36] - The company revised the useful economic life of certain GPU machines from 4 years to 2 years due to the Ethereum merge, resulting in accelerated depreciation of $22,203,000 in the 3-month period ended September 30, 2022[35] - The company recorded provisions for impairment on equipment deposits of $22,653,287 during the three months ended December 31, 2022, based on the efficiency and quality of the expected equipment[37] Cash Flow and Financing - Cash provided by operating activities for the nine months ended December 31, 2022, was $46.8 million, down from $52.6 million in the same period in 2021[5] - Cash used in investing activities for the nine months ended December 31, 2022, was $40.8 million, a significant decrease from $145.1 million in the same period in 2021[5] - Cash used in financing activities for the nine months ended December 31, 2022, was $2.6 million, compared to cash provided by financing activities of $114.9 million in the same period in 2021[5] - The company allocated $8,560,630 of the $15,000,000 convertible loan proceeds to the derivative component, valued using the Black-Scholes option pricing model with a risk-free interest rate of 0.69% and expected volatility of 105%[41] - The ATM Equity Program was terminated, having sold 1,306,474 common shares for aggregate gross proceeds of $3,941,736 and net proceeds of $3,821,753[132] Digital Currency and Mining Operations - Revaluation loss on digital currencies for the nine months ended December 31, 2022, was $35.9 million, compared to a revaluation gain of $31.3 million in the same period in 2021[4] - The company stopped mining Ethereum after the Merge on September 15, 2022, shifting to a proof-of-stake validation method[109] - Digital currencies are measured at fair value less cost to sell, and their prices are influenced by global supply and demand, interest rates, and political conditions[100] - The company's digital currency holdings are vulnerable to hacking and malware, which could lead to theft and loss of digital wallets[101] - Digital asset exchanges' operational issues or failures could result in loss or less favorable prices of digital currencies, adversely affecting the company[103] - The company utilizes the Fireblocks platform to secure digital assets, with multi-party computation (MPC) protection layers ensuring no single point of failure for private keys[104] - Bitcoin mining operations consume significant electricity, and regulatory changes or public utility actions could adversely affect the company's business[108] - A 5% variance in Bitcoin price impacts the company's earnings before tax by $1,943,207, while a 5% variance in Ethereum Classic price impacts earnings by $4,439[118] Share Issuance and Compensation - Weighted average number of common shares outstanding for the three months ended December 31, 2022, was 82.7 million, compared to 77.7 million in the same period in 2021[3] - The company consolidated its common shares on May 24, 2022, on a 5:1 basis[63] - Issued 218,016 common shares pursuant to the vesting of 218,016 restricted share-units, reallocating $1,092,790 from reserves to share capital[64] - Issued 1,306,473 common shares (ATM Shares) for gross proceeds of $3,941,736 (C$5,235,413), with an average price per ATM Share of C$4.01[64] - Stock options outstanding as of December 31, 2022, totaled 3,073,415 with a weighted average exercise price of C$6.20[65] - Warrants outstanding as of December 31, 2022, totaled 3,573,727 with a weighted average exercise price of C$22.92[66] - Granted 415,200 stock options to employees and officers with an exercise price of C$5.66 per share and an expiry date of August 26, 2027[74] - Granted 1,425,280 RSUs to employees and officers with a fair value of C$5.66 per share, vesting over 24 months[74] - Share-based compensation expense for the nine months ended December 31, 2022, was $2,593,424 for options and $2,863,345 for RSUs[73] - Basic weighted average number of common shares outstanding for the nine months ended December 31, 2022, was 82,555,946[77] - The company granted 1,200,000 restricted share units to directors and an officer with a fair value of C$3.10 per share, vesting quarterly over 12 months[131] Expenses and Liabilities - Total finance expense for the nine months ended December 31, 2022, was $2,932,234[78] - General and administrative expenses for the nine months ended December 31, 2022, totaled $9,850,515[79] - The company's total contractual cash flows for financial and other liabilities as of December 31, 2022, amounted to $51,676,817[91] - A 10% fluctuation in the US dollar exchange rate would impact the company's earnings before tax by $437,920[94] - The company's exposure to interest rate risk is limited, with interest rates on loans fixed for one year from the date of issuance[95] - The company is contesting a VAT liability of approximately $32.4 million with the Swedish Tax Authority[54] Investments and Fair Value - The company's investment balance as of December 31, 2022, was $5.5 million, down from $17.0 million as of March 31, 2022, due to unrealized losses and foreign exchange impacts[27] - The fair value of Level 2 Assets is determined using quoted prices from the exchanges most frequently used by the company, with no adjustments[82] - As of December 31, 2022, the company's cash holdings were $8,611,396, and digital currencies were valued at $38,952,964[83] - The company's investments in Level 1 assets were valued at $1,140,045, while Level 3 investments were valued at $4,397,938 as of December 31, 2022[83] - The company's convertible loan derivative component decreased in fair value from $4,986,354 as of March 31, 2022, to $92,343 as of December 31, 2022[87] Accounting and Restatements - The company revised the useful life of certain computing equipment from 4 years to 2 years due to changes in market and economic factors[17] - The company changed its accounting policy for digital currencies from IAS 2 to IAS 38 to better reflect business activities and enhance comparability with industry peers[126] - The company restated its financial statements for December 31, 2021, with adjustments including a liability of $1,900,533 for holdback shares and a gain of $963,983 from the change in fair value of holdback shares[127] - Intangible assets were adjusted from $14,622,817 to $14,304,675, and share capital decreased from $328,732,256 to $325,549,598 due to restatements[128] - Accumulated other comprehensive income increased by $25,595,536, while accumulated deficit decreased by $23,628,557 to $(16,657,527)[128] - Revaluation of digital currencies resulted in a loss of $1,057,432, and gain on sale of digital currencies was adjusted to $82,190[128] Acquisitions and Commitments - The company completed the acquisition of GPU Atlantic Inc. on April 15, 2021, for a total consideration of $18.6 million, including 1,000,000 common shares[21] - GPU Atlantic has a 50-megawatt data centre campus located in New Brunswick, Canada[22] - The company has purchase commitments of $4,078,800 for mining equipment as of December 31, 2022[53] Receivables and Prepaid Expenses - Sales tax receivable increased to $6,582,567 as of December 31, 2022, up from $4,516,993 on March 31, 2022[28] - Prepaid expenses and other receivables rose to $7,019,172 as of December 31, 2022, compared to $3,021,408 on March 31, 2022[28] Management Compensation - Key management compensation increased to $1,183,328 for the nine months ended December 31, 2022, compared to $471,757 for the same period in 2021[62]

Q1 F2023 Results Webcast Quarter Ended June 30, 2022 DISCLOSURES In this presentation, "HIVE" or the "Company" refers to HIVE Blockchain Technologies Ltd (TSXV HIVE). Currency All amounts are in US dollars, unless otherwise indicated. Forward Looking Information. Except for the statements of historical fact, this presentation contains "forward-looking information" within the meaning of applicable Canadian and U.S. securities regulations. These forward looking statements are based on expectations, estimates ...

HIVE Blockchain Technologies Ltd. (NASDAQ:HIVE) Q2 2022 Results Conference Call November 16, 2021 9:30 AM ET Company Participants Frank Holmes – Executive Chairman, CEO Darcy Daubaras – Chief Financial Officer Aydin Kilic – President and Chief Operating Officer Russell Starr – Executive Chairman and CEO, DeFi Technologies Movie Audio – Unidentified Derick Murray – Producer, Director and CEO, Network Entertainment Tom Lombardi – Strategic Advisor for NFT, R&D research Conference Call Participants Operator Go ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------|-------|-------|-------|-------|-------|-------|-------|-----------------------------------| | | | | | | | | | TSXV: HIVE NASDAQ: HIVE FSE: HBF | | | | | | | | | | | | © @ | Q | | @ | @ | | | | | | H I V E | | | | | | | | | | | | | | @ | | | Q | | | Q4 FY2021 RESULTS WEBCAST | | | | | | | | | DISCLOSURE TSXV: HIVE NASDAQ: HIVE FSE: HBF In this presentation, "HIVE" or the "Company" refers to HIVE Blockchain Technologies Ltd ...

HIVE Blockchain Technologies Ltd. (NASDAQ:HIVE) Q1 2022 Earnings Conference Call October 4, 2021 10:00 AM ET Company Participants Frank Holmes - Executive Chairman Aydin Kilic - President and Chief Operating Officer Darcy Daubaras - Chief Financial Officer Conference Call Participants Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unc ...

June 26, 2019 Extreme Networks Announces Agreement to Acquire Aerohive Networks Cautionary Statement on Financial Measures Non-GAAP Measures: In preparing the accompanying information, the Company has excluded, where applicable, the impact of certain Non-GAAP costs as listed at the end of this presentation. The Company believes these Non-GAAP measures provide both management and investors with additional insight into its current operations, the trends affecting the Company and the Company's marketplace perf ...

Aerohive Networks, Inc. (NASDAQ:HIVE) Q1 2019 Earnings Conference Call May 8, 2019 5:00 PM ET Company Participants Melanie Solomon – Investor Relations David Flynn – President and Chief Executive Officer John Ritchie – Chief Financial Officer and Chief Operating Officer Conference Call Participants Mark Kelleher – D. A. Davidson Operator Good day, and welcome to the Aerohive First Quarter 2019 Earnings Conference Call. TodayÂ's conference is being recorded. At this time, I would like to turn the conference ...

HIVE Blockchain Technologies Ltd (HVBTF) Q3 2019 Earnings Conference Call March 4, 2019 8:30 AM ET Company Participants Darcy Daubaras - CFO Frank Holmes - Interim Executive Chairman Olivier Roussy Newton - Interim President Conference Call Participants Darcy Daubaras IÂ'd like to welcome you to today's webcast following HIVE's Third Quarter 2019 Financial Results. My name is Darcy Daubaras, the Chief Financial Officer for HIVE. I'm joined on today's call by Frank Holmes, Interim Executive Chairman; and Oli ...