Announcement • May 15
Tap Global Group plc Announces Tap Earn Now Live in Uk Tap Global Group plc announced that Tap Earn - the Group's yield product offering customers competitive variable yields on eligible cryptocurrency and stablecoin holdings - is now available to eligible customers in the United Kingdom, following completion of the relevant final approvals. As announced on 7 May 2026, Tap Earn offers variable customer-facing yields of up to 7.0% on supported stablecoins, up to 3.5% on Ethereum and up to 2.5% on Bitcoin, with flex-only withdrawals (no lockups, no notice periods and no early-withdrawal penalties), fully integrated within the existing Tap mobile application. With availability in the United Kingdom, Tap Earn is now live across all the Group's markets. A separate trading update covering early-access performance metrics for Tap Earn (including customers, assets under management and annualised revenue run-rate to the Group) is expected to follow in due course, as previously indicated. Tap Earn is a high-risk product for customers and creates specific financial, operational and reputational risks for the Group itself. Customer-facing yields are variable, are not guaranteed and may at any time be reduced (including to zero). Digital asset prices can fall significantly and a customer's overall position may lose value notwithstanding any yield received. Tap Earn is not a bank deposit and is not protected by the Financial Services Compensation Scheme ("FSCS") or any equivalent deposit guarantee scheme in any jurisdiction in which it is offered. Customers may lose some or all of their holdings. Access to funds may be restricted in periods of market stress under the Group's pre-defined operational liquidity framework, with withdrawals potentially queued on a rules-based basis. The full risk disclosures applicable to Tap Earn - including spread compression and yield-environment risk, counterparty default risk, liquidity and withdrawal-stress risk, operational and technology risk, regulatory and enforcement risk, reputational and franchise risk, concentration risk, and litigation and customer-claim risk - are set out in the Group's announcement of 7 May 2026 and should be read together with the risk factors in the Group's most recent annual report and interim results. This announcement and the product information referred to herein do not constitute financial advice or a personal recommendation. Customers should consider their own circumstances and, where appropriate, seek independent advice before depositing. New Risk • Apr 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.26m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£1.6m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 59% per year over the past 5 years. Market cap is less than US$10m (UK£7.26m market cap, or US$9.81m). Minor Risk Revenue is less than US$5m (UK£3.4m revenue, or US$4.5m). Reported Earnings • Apr 06
First half 2026 earnings released: UK£0.001 loss per share (vs UK£0 in 1H 2025) First half 2026 results: UK£0.001 loss per share (further deteriorated from UK£0 in 1H 2025). Revenue: UK£1.67m (down 6.9% from 1H 2025). Net loss: UK£504.0k (loss widened UK£495.4k from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 27% per year, which means it has not declined as severely as earnings. 
