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Sui is like the Microsoft for decentralized applications.

Sui is like Amazon Web Services (AWS) for Web3 developers.

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• Sui Blockchain Network: A high-performance Layer 1 blockchain designed for speed, low cost, and developer-friendliness.
• Move Smart Contract Language: A secure, Rust-based programming language optimized for digital asset safety and concurrency on Sui.
• Object-Centric Model: An innovative architecture that allows parallel transaction execution for enhanced scalability and throughput.
• Decentralized Applications (dApps) Platform: Provides infrastructure for developers to build and deploy a wide range of decentralized applications and services.
• SUI Token: The native cryptocurrency used for transaction fees, staking, governance, and gas payments within the Sui ecosystem.

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The symbol SUIG does not correspond to a public company named "Sui." "Sui" refers to a Layer 1 blockchain platform developed by Mysten Labs, which is a private company. Therefore, it is not a publicly traded entity with the symbol SUIG, and traditional customer identification based on public company financial reports is not applicable.

However, if we consider the primary users and participants within the Sui blockchain ecosystem, they can be categorized as follows:

• Developers and Decentralized Applications (dApps): This category includes companies, development teams, and individual builders who create and deploy decentralized applications, protocols, and services on the Sui blockchain. These entities utilize Sui's infrastructure, programming model (Move), and performance capabilities to build innovative Web3 products, such as games, DeFi platforms, NFT marketplaces, and social applications.

• Individual End-Users/Consumers: These are the individuals who interact directly with the decentralized applications and services built on the Sui network. They participate in Web3 games, utilize DeFi protocols, trade and collect NFTs, engage with social applications, and conduct transactions using the SUI token and other digital assets within the ecosystem.

• Validators and Infrastructure Providers: This category comprises entities, which can range from professional organizations and cloud providers to dedicated individuals, responsible for operating validator nodes. These validators secure the Sui network, process transactions, and maintain the integrity and decentralization of the blockchain, earning rewards for their contributions.

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Douglas M. Polinsky, Chief Executive Officer

Douglas M. Polinsky was appointed CEO of SUI Group Holdings Limited in January 2006, having co-founded the company, originally known as Mill City Ventures III, Ltd., on January 10, 2006. Under his leadership, the company initially focused on providing short-term specialty finance solutions. In August 2025, the company rebranded to SUI Group Holdings Limited (SUIG) and shifted its strategic focus to become a treasury vehicle directly tied to the Sui blockchain, trading on the Nasdaq Capital Market.

Joseph A. Geraci, II, Chief Financial Officer

Joseph A. Geraci, II serves as the Chief Financial Officer and Principal Accounting Officer of SUI Group Holdings Limited. He co-founded the company, formerly Mill City Ventures III, Ltd., alongside Douglas M. Polinsky on January 10, 2006.

Marius Barnett, Chairman

Marius Barnett is the Chairman of SUI Group Holdings Limited. He has articulated a vision for establishing a "Sui Bank," with SUI Group expected to hold a significant ownership stake.

Stephen Mackintosh, Chief Investment Officer

Stephen Mackintosh is the Chief Investment Officer of SUI Group Holdings Limited. He described the company's rebranding as a pivotal moment, aligning its identity with the mission to be a leading, foundation-backed SUI treasury company. His strategy centers on the long-term accumulation and active use of SUI to advance the Sui network, including activities such as staking, lending, liquidity provision, and insurance services for SUI assets. Mackintosh was involved in leading the financing for SUIG's launch, with shares locked for 12 months to demonstrate a long-term commitment to the SUI ecosystem.

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The key risks to the public company Sui (symbol: SUIG) include:

1. Intense Competition and User Adoption: Sui operates in a highly competitive blockchain landscape, vying for market share against established Layer 1 and Layer 2 networks such as Ethereum, Solana, and Avalanche. These competitors often possess more extensive developer communities and greater liquidity, making it challenging for Sui to achieve widespread adoption and expand its ecosystem.
2. Validator Centralization and Transparency Concerns: With a relatively small number of validators (113 as of November 2025), Sui's network exhibits a lower degree of decentralization compared to some rivals, which could elevate risks associated with potential collusion and diminish network resilience. Additionally, issues surrounding the transparency of unallocated SUI token management and insufficient disclosure of the circulating supply have raised questions regarding centralization within the network.
3. SUI Token Price Volatility and Regulatory Uncertainty: As a public company whose value is linked to its underlying cryptocurrency, SUIG is significantly exposed to the inherent price volatility of the SUI token, which has experienced 30-day volatility ranging from 16-21%. Furthermore, the cryptocurrency sector as a whole is subject to an evolving and often unpredictable regulatory environment, which could adversely affect Sui's operations and market position.

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Sui Group Holdings (symbol: SUIG) operates within the addressable markets of Decentralized Finance (DeFi) and Web3, primarily through its strategic management of SUI tokens, stablecoin issuance, and facilitating institutional adoption of decentralized financial products on the Sui blockchain.

For the **Decentralized Finance (DeFi) market** globally, the market size was estimated at USD 20.48 billion in 2024 and is projected to reach USD 231.19 billion by 2030, growing at a compound annual growth rate (CAGR) of 53.7% from 2025 to 2030. Another estimate projects the global Decentralized Finance market size to reach USD 351.75 billion by 2031, with a CAGR of 48.9% during the forecast period. North America held a significant share of the global DeFi market in 2024.

For the **Web3 market** globally, the market size is projected to cross USD 6.63 billion in 2024 and is expected to reach USD 177.58 billion by 2033, exhibiting a CAGR of 44.1% from 2024 to 2033. Other projections indicate the global Web3 blockchain market size was valued at USD 4.84 billion in 2024 and is projected to grow to USD 135.34 billion by 2033, at a CAGR of 44.8% during the forecast period (2025-2033). North America dominated the Web3 market in 2024, holding a significant market share.

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Here are 3-5 expected drivers of future revenue growth for Sui Group Holdings (SUIG) over the next 2-3 years:

1. Growth of the SUI Treasury Strategy and Strategic Partnerships: Sui Group Holdings (SUIG) is actively building a foundation-backed digital asset treasury platform. This strategy involves leveraging its relationship with the Sui Foundation to generate revenue. A prime example is the strategic partnership with Bluefin, a decentralized exchange on the Sui blockchain, where SUIG lends 2 million SUI tokens and receives a 5.00% revenue share from Bluefin, payable in SUI. This arrangement is anticipated to create a durable earnings stream and deliver enhanced returns compared to traditional staking.
2. Accelerated Institutional Adoption of the Sui Blockchain: SUIG plans to use its extensive network within traditional finance to encourage institutional market participants, such as hedge funds and asset managers, to adopt Bluefin's trading and lending products on the Sui blockchain. This focus on bridging traditional finance with blockchain is expected to drive the entry of new institutional capital into on-chain markets, leading to new partnerships and revenue-generating opportunities for SUIG. Increased institutional involvement is also projected to enhance liquidity and credibility within the Sui ecosystem, benefiting SUIG's treasury strategy.
3. Expansion of the Sui Blockchain Ecosystem (User and Developer Growth): The overall growth of the Sui blockchain's user base and developer activity is a significant indirect driver for SUIG. Sui has experienced a substantial increase in user adoption, becoming one of the most active blockchains by daily users, with new wallet creations rapidly expanding and surpassing 50 million registered accounts. Concurrently, developer adoption is rising, fueled by initiatives like an AI-assisted Move coding assistant that led to a 40% increase in developer activity. This burgeoning ecosystem, characterized by more decentralized applications (dApps), increased transaction volumes, and a surging Total Value Locked (TVL) in DeFi (from $200 million to over $1.5 billion by May 2025), enhances the value of SUIG's SUI treasury and creates a fertile ground for new services and partnerships.
4. Growth in Web3 Gaming and Decentralized Finance (DeFi) Sectors on Sui: Sui is strategically positioning itself as a leading blockchain for Web3 gaming and has seen remarkable growth in the DeFi sector. The network is attracting numerous gaming studios, with over 65 building on Sui and 70 new games slated for release in 2025. Its handheld device, SuiPlay0X1, has already sold out preorders, and its flagship game shows strong user engagement. In DeFi, Sui has emerged as the fastest-growing major blockchain, with its TVL soaring by 9.17% to reach $1.58 billion. This dedicated focus on high-growth segments of the blockchain industry is expected to drive increased network activity and demand for the SUI token, which, in turn, will positively impact SUIG's digital asset treasury and open avenues for new revenue streams.

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Share Repurchases

• SUI Group Holdings Limited completed a $2 million stock repurchase program between September 10 and September 12, 2025, repurchasing approximately 318,743 shares at an average price of $4.30 per share.
• The company's Board of Directors authorized a new stock repurchase program to acquire up to an additional $50 million of common stock.
• Under this new $50 million program, approximately 276,296 shares were repurchased between September 15 and September 18, 2025, at an average price of $4.37 per share.

Share Issuance

• In 2025, the company, formerly known as Mill City Ventures III, Ltd., executed a $450 million private placement, selling 83,025,830 shares to institutional investors, including Karatage Opportunities, to initiate its SUI treasury strategy.
• Sui Group Holdings Ltd. amended its Articles of Incorporation in September 2025, increasing its authorized capital stock from 111,111,111 shares to 2,000,000,000 shares, a decision approved by shareholders on September 15, 2025.

Inbound Investments

• SUI Group Holdings Limited secured $450 million through a private placement from institutional investors in 2025, which primarily funded its strategic pivot to a SUI blockchain treasury strategy.

Outbound Investments

• SUI Group Holdings Limited initiated a strategic pivot to a SUI treasury strategy in late July 2025, focusing on the accumulation and management of SUI tokens.
• As of September 30, 2025, the company held 105,393,692.55 SUI tokens, acquired for an aggregate purchase price of approximately $381.5 million.
• Substantially all of the company's SUI tokens are actively staked, generating an approximate 2.2% annual yield, amounting to an estimated daily yield of $20,000 as of September 2025.

Capital Expenditures

• SUI Group Holdings Limited reported $0 in Capital Expenditures.