#1seedinvest August 2, 2022 SeedInvest SEC Small Business Capital Formation Advisory Committee Presentation CONFIDENTIAL#2Copyright © 2022 Circle Internet Financial Limited (“Circle”), all rights reserved. This confidential presentation is intended solely for the use of the individual(s) to whom it was intended to be delivered. If you are not an intended recipient of this presentation you are hereby notified that any review, dissemination, distribution or copying of the information contained herein is strictly prohibited. This presentation is for information purposes only and should not be regarded as a recommendation of, or an offer to sell or as a solicitation of an offer to buy, any financial product. Investments are offered only via definitive transaction documents and any potential investor should read such documents carefully, including all risks, before investing. Startup investments involve a high degree of risk and those investors who cannot hold an investment for the long term (at least 5-7 years) or afford to lose their entire investment should not invest in startups. All securities-related activity is conducted by SI Securities, LLC dba SeedInvest, an affiliate of Circle, and a registered broker-dealer, and member FINRA/SIPC, located at 135 Madison Avenue, 5th Floor, New York, New York 10016. To learn more about investing in startups and its risks visit www.seedinvest.com/academy.#3#4#5#6● Current State of Online Fundraising (Cont'd) Overall, on the primary side, there seems to be a relatively healthy balance between expanding access to capital and ensuring adequate investor protections (however, various platforms have different standards) But there are still two major, outstanding hurdles to making online fundraising and investing a viable asset classes for the masses: Diversification Liquidity - investing and exiting are two very different things O Many startup and small business investors get “burned out” quickly after making a few investments since they typically need to wait for years to realize any return (this ultimately leads to less capital available for startups and small businesses) The good news is that we now have some actual case studies of meaningful retail investor exits (which provides data to address many of the JOBS Act concerns from ten years ago) SeedInvest | Confidential | 6#7#8#9#10#11#12#13#14#15#16#17