Business Description

Unless the context requires otherwise, in this Annual Report on Form 10-K ("report"), the terms “we,” “us,” “our,” the “Company,” and “Exodus” refer to Exodus Movement, Inc. and its wholly-owned subsidiaries , Proper Trust AG, 3ZERO, LLC ("3ZERO"), XO Italia S.R.L., Osmium, LLC, Osmium Europe B.V., Osmium Canada LTD and Osmium AU PTY LTD . Additionally, references to our “Board” refer to the board of directors of Exodus Movement, Inc. Unless the context otherwise requires, references to “common stock” refer to our Class A common stock and our Class B common stock, coll ectively. Our Company We launched Exodus in 2015 and incorporated in Delaware in 2016 to create a wallet that enables users to securely control and manage digital assets in an easy and straightforward way, without compromising users’ privacy or the security of their digital assets. Exodus’ mission is to empower wallet users (“users”) to control their wealth through an un-hosted self- custodial platform (the “Exodus Platform”) that provides access to the world of decentralized finance and the power of blockchain. On desktop and mobile devices alike, Exodus delivers a simple, elegant, and intuitive experience where users can send, receive and store over 700,000 digital assets. Depending on availability and jurisdiction, users can also access the services offered and performed by various independent, third-party application programming interface (“API”) providers (“API Providers”), which include digital asset exchanging, fiat onboarding and staking for over 30,000 digital assets. In addition, the Exodus Platform integrates other third-party applications (“apps”), such as news apps. We aim to enable our users to leverage the power of digital assets in an easy and straightforward way, without compromising their privacy or the security of their digital assets. Management believes we accomplish our vision by: • creating a platform designed for our users to retain full control over the digital assets held in their Exodus wallet by encrypting the private keys locally on our users’ personal devices (private key data is not retained by Exodus); • streamlining our users’ setup process by offering a range of self-custodial wallet options to hold users’ private keys (including hot and cold wallets); • providing quick access to the services offered and performed by our third-party API Providers; • hosting and maintaining our own robust server infrastructure to help enable maximum uptime for all digital assets on our platform; • integrating third-party apps seamlessly into our highly functional platform to provide our users with access to a rich ecosystem of ways to use and manage their digital assets, as well as providing us with potential additional avenues for monetizing our platform; and • providing timely support for users of our platform. Exodus was founded by Jon Paul Richardson, our CEO and Chairperson of our Board, and Daniel Castagnoli, the President of our wholly-owned subsidiary, 3ZERO, and a member of our Board, and was incorporated in Delaware in July 2016. On December 8, 2025, the Company effected the redomestication of the Company from the State of Delaware to the State of Texas. As of December 31, 2025 , Messrs. Richardson and Castagnoli together control approximately 93% of the voting power of our outstanding common stock, and holders of our Class B common stock collectively control 95% of the voting power of our outstanding common stock. As a result, we are considered a “controlled company” within the meaning of the corporate governance standards of the NYSE American LLC (the “NYSE American”), the national exchange on which we list our Class A common stock, as described further in “