Ronin EM Limited ("Ronin EM," "we," "us") is a Crypto-Asset Service Provider (CASP) regulated by the Cyprus Securities and Exchange Commission (CySEC) under the Markets in Crypto-Assets Regulation (MiCAR). This document provides the mandatory sustainability disclosures for the crypto-assets we offer for trading and custody.

These disclosures are intended to inform clients about the significant environmental and climate- related impacts of the crypto-assets we service, particularly concerning their energy consumption. The information is based on the methodology and data sources detailed below and is provided to assist clients in making informed decisions.

This report covers the crypto-assets listed in the table below which are made available to our clients. The disclosed information is current as of the report date and is subject to change as network parameters, consensus mechanisms, and data availability evolve.

The annual energy consumption (TWh/year) for Proof-of-Work (PoW) assets (e.g., Bitcoin) is estimated based on:

• The total network hash rate and the efficiency of currently deployed mining hardware.
• An assumption of the minimum and maximum power efficiency of the mining equipment used.
• Estimated operational overheads (e.g., cooling).

For Proof-of-Stake (PoS) assets (e.g., Ethereum), the energy consumption is significantly lower and is primarily derived from validator nodes and average hardware use.

The carbon footprint (tCO2e/transaction or tCO2e/year) is calculated by multiplying the estimated electrical consumption by the **carbon intensity of the electricity** used by the network participants. This calculation requires an estimation of the geographic distribution of the mining/validator nodes.

Data Sources: Geo-information is merged with public data from "Our World in Data" and sources such as Ember (2025) and the Energy Institute (2024). The intensity is calculated as the marginal emission with respect to one more transaction.

Bitcoin operates on a power-intensive Proof-of-Work (PoW) consensus mechanism, which relies on specialized mining hardware (ASICs) competing to validate blocks. This competitive process is the source of its high energy demand.

Energy Mix: While there are efforts to incorporate renewable energy, a significant portion of Bitcoin mining still relies on fossil fuels, leading to a high carbon intensity per transaction. The geographic dispersion of mining operations is a critical factor in determining the overall carbon footprint.

Source Citation: The energy and carbon intensity metrics are derived from a combination of academic studies and industry reports (e.g., Cambridge Centre for Alternative Finance, Digiconomist), merged with the methodology outlined in Section 2.

Ethereum transitioned from a PoW to a Proof-of-Stake (PoS) consensus mechanism in 2022 (The Merge). This fundamental change reduced its energy consumption by an estimated 99.9% compared to its PoW state.

Environmental Impact: Due to the PoS mechanism, the network's energy demand is comparable to that of a small data center, resulting in negligible tCO2e per transaction, making it significantly more sustainable than PoW networks.