Here are 1-3 brief analogies for Sui (SUIG), Mill City Ventures III, Ltd.:

• Like a "Shark Tank" investor that uses its own money to fund and advise emerging and growing businesses with both loans and equity.
• Similar to a venture capital firm, but they also provide loans and assist companies at more mature stages, not just startups.
• Think of it as a small-scale private equity firm that offers flexible financing, including debt and equity, alongside hands-on management advice to various companies.

• Equity Investments: Investing in the equity securities of public and private companies.
• Debt Investments and Lending: Investing in debt securities and providing loans to public and private companies.
• Managerial Assistance: Offering managerial assistance to portfolio companies to support their operations and growth.
• Financial and Operational Advisory: Providing advisory services to portfolio companies concerning their financial and operational strategies.

Mill City Ventures III, Ltd. (SUIG) is a principal investment firm. Its business model involves specializing in investments in debt and equity securities of public and private companies, providing funding for operations (start-up, acquisition, or growth), lending, and offering managerial assistance and advisory services. Therefore, its "major customers" are the companies in which it invests, lends to, and provides services.

Based on the provided background information, the specific names of these customer companies (portfolio companies) are not listed. However, the background describes the categories of companies that Mill City Ventures III, Ltd. primarily serves:

• Privately held companies
• Publicly traded companies

These customer companies can be further characterized by their operational stage or funding needs:

• Start-up companies
• Companies seeking acquisition funding
• Growth-stage companies

As the provided background does not contain specific names of its customer companies or their symbols, those details cannot be listed.

Douglas Michael Polinsky, Chief Executive Officer, President and Director

Douglas Michael Polinsky is the Co-Founder, Chief Executive Officer, President, and a Director of SUI Group Holdings Limited (formerly Mill City Ventures III, Ltd.). He has demonstrated continued investment in the company through stock purchases. Polinsky was also the Chief Executive Officer and Chairman of the Board when Mill City Ventures III, Ltd. formalized its business plan to include short-term non-bank lending and specialty finance in 2020.

Joseph A. Geraci, Chief Financial Officer

Joseph A. Geraci serves as the Chief Financial Officer of SUI Group Holdings Limited. Previously, he was appointed as Chief Executive Officer of Mill City Ventures III, Ltd. in 2019 for a three-year term, responsible for managing the company's operations and investment portfolio.

Stephen Mackintosh, Chief Investment Officer

Stephen Mackintosh is the Chief Investment Officer of SUI Group Holdings Limited. He is also a Co-Founder and General Partner at Karatage Opportunities, a London-based proprietary hedge fund specializing in digital assets and emerging technology investments. Mackintosh brings extensive experience across the Sui ecosystem and previously worked in artificial intelligence and deep tech. He joined Mill City Ventures III, Ltd. (now SUI Group Holdings Limited) as Chief Investment Officer following a significant private placement and the initiation of the company's Sui Treasury Strategy, where Karatage acted as the lead investor.

Marius Barnett, Chairman of the Board

Marius Barnett serves as the Chairman of the Board of SUI Group Holdings Limited. He is also a Co-Founder of Karatage Opportunities. Barnett is described as a veteran operator and investor in digital assets, with a background in building businesses across real estate, infrastructure, and energy. His appointment as Chairman coincided with the company's pivot to a Sui Treasury Strategy, with Karatage as a key investor.

The increasing maturation and adoption of decentralized finance (DeFi) platforms and decentralized autonomous organizations (DAOs) for capital formation and investment represent a clear emerging threat. These platforms offer alternative, potentially more efficient, and accessible ways for companies to raise debt and equity capital directly from a global pool of investors. As these decentralized models gain broader acceptance and regulatory clarity, they could disintermediate traditional principal investment firms like Mill City Ventures III, Ltd., reducing their deal flow and their role as intermediaries in funding private and public companies.

Sui Group Holdings (symbol: SUIG), formerly Mill City Ventures III, Ltd., operates with a dual focus on short-term specialty finance solutions and digital asset treasury management. The addressable markets for these main products and services are as follows:

Short-term Specialty Finance Solutions (Non-bank Lending)

The global debt financing market, which encompasses short-term specialty finance solutions, was valued at approximately USD 22.13 billion in 2024. This market is projected to expand significantly, reaching an estimated USD 57.53 billion by 2033, demonstrating a compound annual growth rate (CAGR) of 11.2% during the forecast period from 2026 to 2033. Another estimate places the global debt financing market at USD 23.015 billion in 2025, with a projected increase to USD 42.22 billion by 2032, at a CAGR of 9.1%. North America is a key region, expected to contribute 45% to the growth of the global debt financing market.

Digital Asset Treasury Management (SUI Blockchain Token)

Sui Group Holdings manages a treasury of SUI tokens, positioning itself to provide institutional-grade exposure to the SUI blockchain ecosystem. The addressable market for this service is closely tied to the value and adoption of the SUI blockchain and its native token. The global market capitalization of Sui (SUI) was approximately USD 3.9 billion as of March 15, 2026. The fully diluted valuation (FDV) for SUI, which assumes all 10 billion tokens are in circulation, is around USD 10.03 billion. The Sui ecosystem has shown considerable growth, with its Total Value Locked (TVL) in Decentralized Finance (DeFi) surpassing USD 2 billion in 2025. A realistic Total Addressable Market (TAM) for Sui within the DeFi sector alone could range from USD 5 billion to USD 12 billion, implying substantial growth potential. The Sui blockchain is a next-generation Layer 1 blockchain designed to support various applications, including those in finance, gaming, and artificial intelligence, indicating a broad and evolving ecosystem.

1. Expansion and Performance of the Sui Blockchain Treasury Strategy: SUI Group Holdings Limited has undergone a transformative strategic shift, pivoting to become a premier, foundation-backed SUI digital asset treasury company. This strategy involves the long-term accumulation and activation of SUI tokens on the Sui blockchain. Growth in this area is expected from the appreciation of SUI token holdings and strategic management of the digital asset treasury for long-term value creation.
2. Revenue Generation from Staking and Digital Asset Lending: A significant driver of future revenue will come from generating income through staking its SUI token holdings. Additionally, the company aims to generate revenue through digital asset lending and institutional loans utilizing its SUI treasury.
3. Leveraging Exclusive Relationship with the Sui Foundation: SUI Group Holdings Limited is positioned as the only publicly traded company with an official relationship with the Sui Foundation. This exclusive partnership is anticipated to provide institutional-grade exposure to the SUI digital asset and unique opportunities for insights into technology trends and ecosystem growth, which can drive further strategic investments and revenue.
4. Continued Growth in Legacy Short-Term Non-Bank Lending: While the company has pivoted significantly, it intends to continue its existing commercial short-term non-bank lending and specialty finance business. This segment focuses on providing high-interest, collateral-backed loans primarily to privately held businesses, micro-cap public companies, and high-net-worth individuals, contributing to overall revenue growth.

Share Repurchases

• In October 2024, Mill City Ventures III, Ltd. (then trading as MCVT) announced a stock repurchase program authorized for up to $2,000,000 of its common stock.
• As of January 7, 2026, SUI Group Holdings (SUIG) bought back 8.80% of its common shares outstanding.

Share Issuance

• In August 2022, Mill City Ventures III, Ltd. (then MCVT) closed a public offering of 1,250,000 shares of common stock at $4.00 per share, generating aggregate gross proceeds of $5,000,000.
• In July 2025, prior to rebranding, Mill City Ventures III, Ltd. announced a private placement for approximately $450,000,000 through the sale of 83,025,830 shares of common stock at $5.42 per share to initiate its Sui Treasury Strategy.
• In August 2025, the company (then MCVT) announced a $500,000,000 equity line agreement intended to accelerate the growth of its Sui Treasury Strategy.

Inbound Investments

• In July 2025, Mill City Ventures III, Ltd. (prior to becoming SUI Group Holdings) secured a $450,000,000 private placement, with Karatage Opportunities as the lead investor and an equivalent investment from the Sui Foundation.
• The $450,000,000 private placement also included participation from prominent firms such as Big Brain Holdings, Galaxy Digital Inc., Pantera Capital, M2, Electric Capital, and others.
• In August 2025, the company established a $500,000,000 equity line agreement to support its Sui Treasury Strategy.

Outbound Investments

• Mill City Ventures III, Ltd. intended to use approximately 98% of the net proceeds from its $450,000,000 private placement in July 2025 to acquire SUI tokens, which would serve as its primary treasury reserve asset.
• As of August 10, 2025, the company had accumulated 81.9 million SUI tokens, and by September 2, 2025, SUI Group Holdings (SUIG) had accumulated over 101.8 million SUI tokens, valued at approximately $332 million.
• As of January 7, 2026, SUI Group Holdings' total SUI holdings rose to 108,098,436 SUI tokens.

Capital Expenditures

• Mill City Ventures III, Ltd.'s 2024 Form 10-K report noted a significant reduction in total operating expenses, which contributed to improved financial efficiency.
• The company's strategic focus, particularly after its transition to SUI Group Holdings, is on the acquisition and management of digital assets (SUI tokens) rather than significant traditional capital expenditures.