Argo Mining Profitability and Expansion Update

Historical KPIs Bitcoin and Bitcoin Equivalent on Balance Sheet Mining Margin¹² 91% BTC as % of Total 2,595 85% 33% 216 193 FY 2019 FY 2020 FY 2021 Adj. EBITDA Margin² 31% 12% 60% 41% 84% FY 2019 FY 2020 FY 2021 Adj. EBITDA($mm)² 72% $7.9 $1.4 S72.4 FY 2019 FY 2020 FY 2021 25 FY 2019 FY 2020 FY 2021 1. Argo mining margin defined as: (cryptocurrency mining revenue - direct costs) / cryptocurrency mining revenue. 2. See appendix for reconciliation for non-IFRS measures. argo

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