Q2 2025 Results 30 July 2025 Disclaimer This presentation has been prepared for use by Forge Global Holdings, Inc. ("Forge") for informational purposes only and may not be reproduced or redistributed, in whole or in part, without the prior written consent of Forge. Forge does not make any representation or warranty as to the accuracy or completeness of the information contained in this presentation. The information in this presentation and any oral statements made in connection with this presentation is sub ...

Financial Performance - Forge Global achieved its best revenue quarter as a public company in Q1 2025, driven by strong Marketplace revenue[16] - Total revenues, less transaction-based expenses, were $25.1 million in Q1 2025, compared to $18.3 million in Q4 2024 and $19.2 million in Q1 2024[18] - Marketplace revenue increased to $16.0 million in Q1 2025 from $8.6 million in Q4 2024 and $8.5 million in Q1 2024[18] - Custodial administration fees were $9.3 million in Q1 2025, down from $10.0 million in Q4 2024 and $10.7 million in Q1 2024, impacted by rate reductions in Q4 2024[17, 18] - Adjusted EBITDA was a loss of $8.9 million in Q1 2025, an improvement from a loss of $10.9 million in Q4 2024 and $13.5 million in Q1 2024[22] - Net loss was $16.2 million in Q1 2025, compared to $16.0 million in Q4 2024 and $19.0 million in Q1 2024[22] Operating Expenses - Total operating expenses were $41.6 million in Q1 2025, compared to $37.0 million in Q4 2024 and $44.2 million in Q1 2024[22] - The increase in operating expenses from Q4 2024 to Q1 2025 is attributed to variable costs linked to revenue growth, costs related to CFO transition, investments in NGP, and other factors[22] Corporate Actions - Forge Global completed a reverse stock split and commenced a share buyback program[17] - Net loss per share, adjusted for the reverse stock split, was ($1.29) in Q1 2025, ($1.26) in Q4 2024, and ($1.55) in Q1 2024[23]