\nSUI Group Holdings Limited (NASDAQ: SUIG) (\u201cSUI Group,\u201d \u201cSUIG\u201d or the \u201cCompany\u201d), today announced that as of May 19, 2026, its total SUI holdings increased to 108,793,779 (including digital asset loans), primarily driven by lending activities in the SUI ecosystem and native staking rewards. The Company also noted that the discount of its share price to net asset value has compressed meaningfully in recent months reflecting new investments, the appreciation in the SUI price and adjustments in the book value of the legacy lending book. Based on current market prices, SUI Group is trading at an approximate 0.91x market net asset value (“mNAV”), which management believes reflects increasing investor recognition of its differentiated treasury strategy and long-term positioning within the Sui ecosystem. SUI Group\u2019s total shareholders\u2019 equity, as set out in the company\u2019s most recent 10Q filing, was $100,788,670 as of March 31, 2026.<\/p>\n
\nStephen Mackintosh, Chief Investment Officer of SUI Group, said, \u201cWe believe the Sui ecosystem continues to evolve into a foundational layer for the next generation of financial infrastructure, and SUI Group is focused on building alongside that growth. Our recent investment in Nof1 and strategic participation in Recursive Superintelligence’s funding round reflect our conviction that agentic finance will define the next era of capital markets, and we intend to be at the forefront of that shift.\u201d<\/p>\n
\n\u201cOur focus is not simply accumulating SUI but driving long-term shareholder value through disciplined capital allocation across treasury growth, staking, digital asset lending, ecosystem infrastructure and opportunistic share repurchases when we believe our stock is undervalued relative to the intrinsic value of our platform. Each of these pillars is intended to reinforce the others, and we believe the compounding effect of that strategy will drive meaningful value for our shareholders over time.\u201d<\/p>\n
SUI Group Treasury Update<\/b><\/p>\n Supplemental Information on mNAV<\/b><\/p>\n \nSUIG estimates its mNAV by aggregating the value of its digital assets, cash balances and other NAV divided by the number of its outstanding common stock (including pre-funded warrants). Using the closing price of SUIG common stock and SUI token price on May 19, 2026, SUIG is trading at an approximate mNAV of 0.91x, with calculation details below.<\/p>\n M \/ NAV Calculation<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOutstanding Shares incl. Pre-Funded Warrants<\/p>\n<\/td>\n \n80,896,554\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCurrent Share Price<\/p>\n<\/td>\n \n$1.56\u00a0<\/p>\n<\/td>\n<\/tr>\n Market Cap<\/b><\/p>\n<\/td>\n \n$126,198,624\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSUI\/Share<\/p>\n<\/td>\n \n1.34\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n NAV<\/i><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n SUI Holdings<\/b><\/p>\n<\/td>\n $115,321,406\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n \n– number<\/p>\n<\/td>\n \n108,793,779\u00a0<\/p>\n<\/td>\n<\/tr>\n \n– current price<\/p>\n<\/td>\n \n$1.06\u00a0<\/p>\n<\/td>\n<\/tr>\n \nUSDC \/ USDT \/ SuiUSDe \/Cash<\/p>\n<\/td>\n \n$14,384,885\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther NAV<\/p>\n<\/td>\n \n$9,057,970\u00a0<\/p>\n<\/td>\n<\/tr>\n \n– portfolio investments<\/p>\n<\/td>\n \n$8,670,165\u00a0<\/p>\n<\/td>\n<\/tr>\n \n– other Net Assets<\/p>\n<\/td>\n \n$387,805\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n NAV<\/b><\/p>\n<\/td>\n $138,764,261\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n M\/NAV<\/b><\/p>\n<\/td>\n 0.91x\u00a0<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Supplemental Measures<\/b><\/p>\n \nThe Company uses mNAV to help assess the performance of its strategy of acquiring and deploying SUI in a manner the Company believes is accretive to shareholders. The Company believes that mNAV can assist investors in understanding how the Company chooses to fund purchases of and deploy SUI and the value created by such purchases. Such metrics have inherent limitations including not taking into account that our assets are subject to all existing and future liabilities. Such metrics are not, and should not be understood as financial performance, valuation, or liquidity measures and may not be comparable to similarly titled measures of other companies. Other companies, including other companies with digital asset treasuries, may calculate mNAV or similarly titled metrics differently, limiting the usefulness of the measure for comparative purposes. Although mNAV incorporates the label \u201cNAV,\u201d it is not equivalent to \u201cnet asset value\u201d or \u201cNAV\u201d or any similar metric in the traditional financial context.<\/p>\n \nThe trading price of the Company\u2019s common stock is informed by numerous factors in addition to Company\u2019s SUI holdings and its actual or potential shares of common stock outstanding, and as a result, the trading price of the Company\u2019s common stock can deviate significantly from the market value of the Company\u2019s SUI holdings, and mNAV is not indicative or predictive of the trading price of the Company\u2019s common stock.<\/p>\n \nInvestors should rely on the financial statements and other disclosures contained in the Company\u2019s SEC filings. Such metrics are merely supplements, not substitutes to the financial statements and other disclosures contained in the Company\u2019s SEC filings.<\/p>\n Non-GAAP Financial Information<\/b><\/p>\n \nThis press release includes certain non\u2011GAAP financial measures that are not presented in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d). These non\u2011GAAP financial measures include, but are not limited to, net asset value and mNAV.<\/p>\n \nSUI Group uses these non\u2011GAAP financial measures to supplement its GAAP results in order to provide investors with additional insight into the Company\u2019s operating performance and cost structure. Management believes these non\u2011GAAP measures are useful to investors because they are industry standard financial reporting metrics for digital asset treasury companies.<\/p>\n \nThese non\u2011GAAP financial measures should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. The principal limitation of these non\u2011GAAP measures is that they exclude expenses and losses that are required to be recorded under GAAP and that may have a material impact on the Company\u2019s financial results. In addition, other companies, including companies in the digital asset and financial services industries, may calculate similarly titled non\u2011GAAP measures differently, which limits their usefulness for comparative purposes.<\/p>\n \nTo compensate for these limitations, SUI Group encourages investors to review the Company\u2019s non\u2011GAAP financial measures together with the most directly comparable GAAP financial measures, which are presented in the tables herein.<\/p>\n GAAP to mNAV Reconciliation (USD)<\/i><\/b><\/p>\n<\/td>\n \nTotal Shareholders’ Equity – 31 March 2026<\/p>\n<\/td>\n \n100,788,670\u00a0<\/p>\n<\/td>\n<\/tr>\n GAAP Adjustments 1<\/i><\/p>\n<\/td>\n \nDigital Asset Loan Receivable (current and non-current)<\/p>\n<\/td>\n \n(2,247,760)\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDigital Assets<\/p>\n<\/td>\n \n(81,807,419)\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDigital Asset Receivable<\/p>\n<\/td>\n \n(19,469,019)\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDeferred Income (current and non-current)<\/p>\n<\/td>\n \n16,800,000\u00a0<\/p>\n<\/td>\n<\/tr>\n Other Adjustments 2<\/i><\/p>\n<\/td>\n \nSUI including SUI Digital Asset Receivables<\/p>\n<\/td>\n \n115,321,406\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSuiUSDe<\/p>\n<\/td>\n \n10,035,434\u00a0<\/p>\n<\/td>\n<\/tr>\n \nMovement in Cash Balances Since 31 March 2026<\/p>\n<\/td>\n \n(657,051)\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNAV<\/p>\n<\/td>\n \n138,764,261\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNotes:<\/p>\n<\/td>\n \n1 – SUI tokens, digital asset receivables and deferred income as at 31 March 2026 reversed<\/p>\n<\/td>\n<\/tr>\n \n2 – SUI tokens, SUI loans and SuiUSDe added back at prevailing market prices<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Forward Looking Statements<\/b><\/p>\n \nThis press release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of forward-looking terminology including \u201cmay,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201canticipate,\u201d \u201cplan,\u201d \u201cshould,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201cpotential,\u201d \u201cwill,\u201d \u201chope\u201d or other similar words and include the Company\u2019s expectation of future performance contained herein. These statements include, but are not limited to, expectations regarding the Company\u2019s future performance and growth, its ability to successfully execute its strategic plans, the Company\u2019s digital asset treasury, the implementation of the Company\u2019s stablecoin strategy, and the nature and performance of digital assets held by the Company.<\/p>\n \nForward-looking statements are subject to significant risks and uncertainties, many of which are beyond the Company\u2019s control. Actual results may differ materially from those expressed or implied in these statements due to various factors, including but not limited to: the inherent volatility and risks associated with investing in SUI, risks associated with investing in agentic finance, challenges in executing a new treasury diversification strategy, the capabilities and limitations of the SUI blockchain, the competitive environment of the Company\u2019s business among others, and the inherent uncertainties associated with the Company\u2019s business strategy, including stablecoin implementation, and the risk factors and other factors noted in the Company\u2019s Registration Statement on Form S-1 (File No. 333-289438), Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. The Company disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release, except as may be required by law.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260521601609\/en\/<\/a><\/span><\/p>\n Media Contact Investor Relations Contact KEYWORDS:<\/b> United States North America Minnesota<\/p>\n INDUSTRY KEYWORDS:<\/b> Blockchain Software Finance Asset Management Artificial Intelligence Professional Services Technology Digital Cash Management\/Digital Assets<\/p>\n\n
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\n _____________________________<\/td>\n<\/tr>\n \n 1<\/sup> Based on the SUI\/USD price on May 19, 2026, as reported by Coinbase.<\/td>\n<\/tr>\n \n 2<\/sup> Includes issued shares, as well as issued but unexercised pre-funded warrants.<\/td>\n<\/tr>\n<\/table>\n \n
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\n<\/b>
Gasthalter & Co.
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SUIG@gasthalter.com
\n<\/a><\/p>\n
\n<\/b>
Sean Mansouri, CFA or Aaron D\u2019Souza
\n
Elevate IR
\n
(720) 330-2829
\n
SUIG@elevate-ir.com<\/a><\/p>\n
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