Exodus Movement, Inc.

In our report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on March 6, 2025, we identify under Item 1A important factors which could affect our financial performance and could cause our actual results for future periods to differ materially from our anticipated results or other expectations, including those expressed in any forward-looking statements made in this Form 10-Q. See the section entitled “Cautionary Note on Forward-Looking Statements” in this Form 10-Q. We may also refer to such disclosure to identify factors that may cause results to differ from those expressed in other forward-looking statements made in oral presentations, including telephone conferences and/or webcasts open to the public.

Except as set forth below, there have been no material changes in our risk factors from those previously disclosed in Item 1A of Part I of our Annual Report on Form 10-K for the year ended December 31, 2024.

Changes to business-related risks regarding tax information reporting obligations.

On April 10, 2025, President Trump signed House Joint Resolution 25 (H.J. Res. 25) into law. This legislation provided for congressional disapproval under chapter 8 of title 5, United States Code, of the rule published by the Internal Revenue Service on December 27, 2024 relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales” (the “Rule”). We previously listed this rule as a business-related risk that would have caused us to invest substantially in new compliance measures because we would have been treated as a broker for tax purposes of reporting for sales of digital assets effected on or after January 1, 2027. Following H.J. Res. 25 being signed into law, we believe this rule no longer poses a business-related risk.