\nBrera Holdings PLC (Nasdaq: SLMT) (the “Company” or “Solmate Infrastructure”), today issued the following letter from Ron Sade, Chief Executive Officer:<\/p>\n
Dear Shareholders,<\/b><\/p>\n
\nI would like to begin this letter, as I step into the role of CEO, with optimistic notes. But despite my deep optimism, I want to treat you with the respect you deserve as the intelligent investors you are, and start instead with a realistic message \u2014 without trying to dress up the reality.<\/p>\n
\nRegrettably, I am taking on this role at a time when the Company is far from where we want it to be, trading well below both its mNAV and the PIPE financing price, mainly due to the sharp decline in Solana value, which is currently a primary driver of returns generated through yield on our digital asset treasury alongside our broader operating activities. While we knew that a bear market was a possibility, the timing has pulled the Company into a negative cycle.<\/p>\n
\nWhen I agreed to take on this role and bring the experience I have accumulated over decades of leading companies and investing across the technology and blockchain sectors into Solmate, one of my first actions was focused on meaningful reductions in the Company’s operating budget. As you have already seen reflected in the Company’s announcements over the past two weeks \u2014 we have eliminated millions of dollars in annualized operating costs across the board. We will provide a more thorough discussion of the 2026 financial overview with the release of our 2025 annual report (20-F).<\/p>\n
\nSetting the tone at the top and leading by example, the structure of my compensation has been deliberately designed to align directly with shareholders. My base compensation is significantly lower than that of my predecessor, and the substantial majority of my potential earnings is tied directly to long-term share price performance and value creation for shareholders.<\/p>\n
\nThese are not easy times, and as I said, I have no interest in glossing over the reality. Yet despite the significant challenges ahead, I am genuinely optimistic.<\/b><\/p>\n
I am optimistic<\/b> because I trust the integrity of the path forward and the experience I bring to it.<\/p>\n
I am optimistic<\/b> because many of our most significant shareholders are visionaries, long-term thinkers, and the personal relationships I have with them are a source of inspiration.<\/p>\n
I am optimistic<\/b> because I have full confidence in our strategic partners in the United Arab Emirates and at the Solana Foundation.<\/p>\n
I am optimistic<\/b> because I believe in every member of the Company’s Board of Directors and in their commitment to do whatever it takes to make this Company succeed.<\/p>\n
I am optimistic<\/b> because we are uniquely positioned to create a dominant market leader in the UAE, leveraging our relationship with the Pulsar Group and the Solana Foundation.<\/p>\n
Where We Are Going<\/b><\/p>\n
\nBefore outlining the path forward, I want to reaffirm the foundation of this Company to ensure there is no ambiguity about our direction.<\/p>\n
\nSolmate was established with a clear and deliberate objective: to become the leading Solana treasury company and a primary vehicle for institutional participation in the Solana ecosystem globally.<\/p>\n
\nThis vision was not theoretical \u2014 it was validated by the market. The Company successfully raised approximately $300 million from a group of highly sophisticated and prominent investors, reflecting strong conviction in both the strategy and the scale of the opportunity. Importantly, the vast majority of these investors remain shareholders today, continuing to demonstrate long-term alignment and support for both the Company and its new management.<\/p>\n
\nAt present, we are focused on increasing value creation for our shareholders through risk diversification, disciplined execution, transparency, and consistent delivery.<\/p>\n
\nThe Company currently holds more than $120 million in assets, providing a strong foundation for execution. As part of our commitment to transparency, we are working to develop investor-facing tools that, subject to internal review and applicable disclosure requirements, are intended to provide shareholders with greater visibility into the performance of the Company’s digital asset holdings.<\/b><\/p>\n
\nWe are not redefining the vision \u2014 we are executing on it with greater discipline, sharper focus, and a clear framework for capital allocation and value creation.<\/p>\n
Our strategy is anchored in three pillars:<\/b><\/p>\n
Capital Discipline and Stewardship<\/b> \u2014 We will manage the Company with rigorous capital allocation discipline, prudent treasury management, and a clear focus on creating sustainable, long-term value for our shareholders.<\/p>\n
Institutional Infrastructure Expansion<\/b> \u2014 We are building a global, institutional-grade validator and staking platform designed to serve banks, funds, and large allocators seeking exposure to the Solana ecosystem.<\/p>\n
Bridge to Institutional Capital<\/b> \u2014 We are positioning Solmate as the preferred gateway for institutional investors across the Middle East and Asia to access Solana through structured, compliant investment solutions.<\/p>\n
\nImportantly, our focus is not only long-term. In the coming quarters, management will prioritize initiatives aimed at strengthening market understanding of the Company’s value, expanding institutional relationships, and driving measurable progress across our core operating pillars.<\/p>\n
\nOur objective is simple: to enhance shareholder value and build scalable, profitable infrastructure for the years to come through disciplined execution, transparency, and consistent delivery.<\/p>\n
\nThat is where we are going.<\/p>\n
My personal commitment is to do everything within my power to position Solmate, by 2030, as the world\u2019s leading Solana-focused technology infrastructure company and the largest Solana treasury in the world. Our strategy is not simply to hold SOL, but to build institutional-grade staking, validation, RPC, colocation and related technology infrastructure around the Solana ecosystem, supported by a disciplined treasury strategy and measured by AUM in SOL, operating infrastructure scale and market capitalization.<\/b><\/p>\n
\nI will make myself available to write to you and to speak face-to-face far more frequently than my predecessor in this role. I believe wholeheartedly that transparency with shareholders is the key to this Company’s success.<\/p>\n
\nI also believe that engagement should not be reserved only for the moments when everything is shining and bright \u2014 it is just as important during difficult periods and challenging times. From the vantage point of my years, I have learned that people reveal their strength precisely when they are brought into the difficult moments, and that the great majority will rise to the occasion to help you help the Company.<\/p>\n
\nThis is an exciting period for me, and I commit to doing everything in my power to put the Company on a path of renewed success.<\/p>\n
\nThank you for your attention, and I look forward to ongoing communication.<\/p>\n
\nSincerely,<\/p>\n
\nRon Sade
\n
Chief Executive Officer
\n
Solmate Infrastructure PLC
\n
Nasdaq: SLMT<\/i><\/p>\n
About Brera Holdings PLC<\/b><\/p>\n
\nBrera Holdings PLC (d\/b\/a Solmate Infrastructure) is a Solana-based crypto infrastructure company with a strategic focus on Abu Dhabi. The company creates value by working with its partners to build infrastructure and real hardware for the crypto revolution. Its cutting-edge Solana staking infrastructure will help drive the adoption of the network in the Middle East. Backed by Ark Invest, RockawayX, Pulsar Group and other UAE and international investors, Solmate Infrastructure expects to process Solana transactions faster, more efficiently and more profitably than other companies. www.solmate.com<\/a>.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cwill,\u201d and similar expressions. These statements include, but are not limited to, statements regarding the Company\u2019s strategic direction and operating plans; its ability to execute on cost reduction initiatives and maintain capital discipline; its plans to expand institutional infrastructure, including validator, staking, RPC, colocation and related technology services; its ability to strengthen institutional relationships and enhance market understanding of the Company\u2019s value; its ability to develop investor-facing tools and improve transparency; its ability to diversify risk and allocate capital effectively; the Company\u2019s positioning as a preferred gateway for institutional investors across the Middle East and Asia; the anticipated benefits of relationships with strategic partners, including the Pulsar Group and the Solana Foundation; the Company\u2019s expectations regarding its financial performance, asset base, and long-term growth; and the Chief Executive Officer\u2019s targets and objectives, including positioning the Company by 2030 as the world\u2019s leading Solana-focused technology infrastructure company and the largest Solana treasury. These forward-looking statements are based on current expectations, estimates, assumptions, and projections and involve known and unknown risks, uncertainties, and other factors\u2014many of which are beyond the Company\u2019s control\u2014that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, the Company\u2019s ability to execute its growth strategy; the outcome of the Nasdaq Hearings Panel process; market conditions, regulatory changes, operational challenges, and other risks and uncertainties described under \u201cRisk Factors\u201d in the Company\u2019s Annual Report on Form 20-F filed with the SEC on May 15, 2025, as amended on May 28, 2025, and in subsequent filings with the SEC, available at www.sec.gov<\/a>. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260503423998\/en\/<\/a><\/span><\/p>\n<\/p>\n