RUM Group Inc.

As previously announced in November 2024, the Company’s Board of Directors has approved a corporate treasury diversification strategy of allocating a portion of the Company’s cash reserves to Bitcoin. This move emphasizes Rumble's belief in Bitcoin as a valuable tool for strategic planning and is designed to accelerate the Company's expansion into cryptocurrency. Rumble's Bitcoin allocation strategy will include purchases, at the discretion of the company, of up to $20 million. Subsequent to year end, the Company has purchased approximately $17 million in Bitcoin.

On January 3, 2025, as required by the Tether Arrangement discussed in Note 11, the Company commenced a self-tender offer to purchase up to 70,000,000 of its issued and outstanding shares of Class A Common Stock.

On February 7, 2025, the Company closed its strategic investment with from Tether by issuing 103,333,333 shares of Class A Common Stock at a price of $7.50 per share to Tether for $775 million in gross proceeds, and on the same date, repurchasing 70,000,000 shares of Class A Common Stock under the self-tender, totaling $525 million, excluding fees and expenses related to the tender, resulting in a net new issuance of 33,333,333 shares of Class A Common Stock. Of the 70,000,000 shares of Class A Common Stock repurchased,69,938,983 were tendered by related parties with whom the Company had executed support agreements. To satisfy the conditions under the support agreements,20,783,200 vested stock options were exercised for $1,395,932 and 41,463,151 shares of Class C Common Stock (and its corresponding ExchangeCo Share) were exchanged for Class A Common Stock.

In accordance with ASC 855, the Company’s management reviewed all material events through March 25, 2025, and there were no material subsequent events other than those disclosed above.