September 30, 2023

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Assets

Current:

Cash and cash equivalents

$

29,617

$

5

$

44

$

-

$

29,666

Cryptocurrencies

795

—

—

—

795

Accounts receivable, net

332

—

—

—

332

Prepaid expenses and other current assets

4,455

11

360

—

4,826

Total current assets

35,199

16

404

35,619

Property and equipment:

Furniture and fixtures

635

—

—

—

635

Leasehold improvements

172

—

—

—

172

Kiosk machines - owned

15,617

—

—

—

15,617

Kiosk machines - leased

30,781

—

—

—

30,781

Vehicles

—

—

—

—

—

Total property and equipment

47,205

—

—

—

47,205

Less: accumulated depreciation

(19,860

)

—

—

—

(19,860

)

Total property and equipment, net

27,345

—

—

—

27,345

Intangible assets, net

4,218

—

—

—

4,218

Goodwill

8,717

—

—

—

8,717

Operating lease right-of-use assets, net

524

—

—

—

524

Security deposits

461

—

—

—

461

Deferred tax asset

—

—

1,582

—

1,582

Due from related parties

3,747

—

—

(3,747

)

—

Investment in Subsidiary

—

17,193

—

(17,193

)

—

Total Assets

$

80,211

$

17,209

$

1,986

$

(20,940

)

$

78,466

September 30, 2023

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Liabilities and Stockholders’ Equity and Member’s Equity

Current:

Accounts payable

$

5,966

$

-

$

1,677

$

-

$

7,643

Accrued expenses

18,831

—

4,518

—

23,349

Note payable

1,868

—

—

—

1,868

Income taxes payable

808

—

819

—

1,627

Deferred revenue

68

—

—

—

68

Operating lease liabilities, current portion

393

—

—

—

393

Current installments of obligations under finance leases

11,094

—

—

—

11,094

Derivative liabilities

—

—

2,701

—

2,701

Other tax payable

—

—

795

—

795

Total current liabilities

39,028

—

10,510

—

49,538

Long-term liabilities:

Note payable, non-current

16,848

—

—

—

16,848

Operating lease liabilities, non-current

267

—

—

—

267

Obligations under finance leases, non-current

3,991

—

—

—

3,991

Deferred income tax, net

482

—

—

—

482

Due to related parties

—

—

3,747

(3,747

)

—

Tax receivable agreement liability

—

—

754

—

754

Total Liabilities

60,616

—

15,011

(3,747

)

71,880

Commitments and Contingencies (Note 22)

Stockholders’ Equity and Member’s Equity

Series A Preferred Stock, $0.0001 par value; 50,000,000 authorized, 4,300,000 shares issued and outstanding, at September 30, 2023

—

485

—

(485

)

—

Class A common stock, $0.0001 par value; 800,000,000 authorized, 12,358,691 shares issued and outstanding at September' 30, 2023

—

6,881

1

(6,881

)

1

Class B common stock, $0.0001 par value; 20,000,000 authorized, no shares issued and outstanding at September 30, 2023

—

—

—

—

—

Class E common stock, $0.0001 par value; 2,250,000 authorized, 1,075,761 shares issued and outstanding at September 30, 2023

—

—

—

—

—

Class M common stock, $0.0001 par value; 300,000,000 authorized, no shares issued and outstanding at September 30, 2023

—

—

—

—

—

Class O common stock, $0.0001 par value; 800,000,000 authorized, no shares issued and outstanding at September 30, 2023

—

—

—

—

—

Class V common stock, $0.0001 par value; 300,000,000 authorized, 44,100,000 shares issued and outstanding at September 30, 2023

—

—

4.00

—

4

Stock subscriptions receivable

—

—

(5,609

)

—

(5,609

)

Additional paid-in capital

—

4,115

16,302

(4,115

)

16,302

Retained earnings (accumulated deficit)

—

5,728

(23,520

)

(6,564

)

(24,357

)

Equity attributed to Legacy Bitcoin Depot

17,089

—

—

(17,089

)

—

Accumulated other comprehensive loss

(116

)

—

(203

)

116

(203

)

Total Stockholders’ Equity and Equity Attributable to Legacy Bitcoin Depot

16,973

17,209

(13,025

)

(35,018

)

(13,860

)

Equity attributable to non-controlling interests

2,623

—

—

17,824

20,447

Total Stockholders’ Equity and Member’s Equity

19,596

17,209

(13,025

)

(17,194

)

6,587

Total Liabilities and Stockholders’ Equity and Member’s Equity

$

80,211

$

17,209

$

1,986

$

(20,940

)

$

78,466

Three Months Ended September 30, 2023

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

179,483

$

-

$

-

$

-

$

179,483

Cost of revenue (excluding depreciation and amortization)

152,545

—

—

—

152,545

Operating expenses:

Selling, general, and administrative

12,812

—

3,430

—

16,242

Depreciation and amortization

3,260

—

—

—

3,260

Total operating expenses

16,072

—

3,430

—

19,502

Income from operations

10,867

—

(3,430

)

—

7,436

Other (expense) income:

Interest expense

(2,769

)

—

—

—

(2,769

)

Other (expense) income

(417

)

—

(2,694

)

—

(3,111

)

(Loss) on foreign currency transactions

(154

)

—

—

—

(154

)

Total other (expense) income

(3,340

)

—

(2,694

)

—

(6,034

)

Income (loss) before provision for income taxes and non-
controlling interest

7,527

—

(6,125

)

—

1,402

Income tax (expense) benefit

(162

)

—

(175

)

—

(337

)

Net (loss) income

7,365

—

(6,300

)

—

1,065

Net income attributable to Legacy Bitcoin Depot unit holders

—

—

—

—

—

Net income (loss) attributable to non-controlling interest
in subsidiary

(1,070

)

—

9,233

—

8,163

Net (loss) income attributable to Bitcoin Depot Inc.

8,435

—

(15,533

)

—

(7,098

)

Other comprehensive income (loss), net of tax

Net (loss) income

7,365

—

(6,300

)

—

1,065

Foreign currency translation adjustments

87

—

—

—

87

Total comprehensive (loss) income

7,452

—

(6,300

)

—

1,152

Comprehensive income attributable to Legacy Bitcoin Depot
unit holders

—

—

—

—

—

Comprehensive income (loss) attributable to non-controlling
interest in subsidiary

(6

)

—

8,256

—

8,250

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

7,458

$

-

$

(14,556

)

$

-

$

(7,098

)

Nine Months Ended September 30, 2023

(unaudited)

BT OpCo

BT HoldCo

PubCo

Eliminations

Consolidated

Revenue

$

540,561

$

-

$

-

$

-

$

540,561

Cost of revenue (excluding depreciation and amortization)

461,087

—

—

—

461,087

Operating expenses:

Selling, general, and administrative

39,520

—

3,725

—

43,245

Depreciation and amortization

9,554

—

—

—

9,554

Total operating expenses

49,074

—

3,725

—

52,799

Income from operations

30,400

—

(3,725

)

—

26,675

Other (expense) income:

Interest expense

(10,120

)

—

—

—

(10,120

)

Other (expense) income

(2,110

)

—

(11,914

)

—

(14,024

)

(Loss) gain on foreign currency transactions

(365

)

—

—

—

(365

)

Total other (expense) income

(12,595

)

—

(11,914

)

—

(24,509

)

Income (loss) before provision for income taxes and non-
controlling interest

17,805

—

(15,639

)

—

2,166

Income tax (expense) benefit

719

—

257

—

976

Net (loss) income

18,524

—

(15,382

)

—

3,142

Net income attributable to Legacy Bitcoin Depot unit holders

12,906

—

—

—

12,906

Net income (loss) attributable to non-controlling interest
in subsidiary

(137

)

—

8,168

—

8,031

Net (loss) income attributable to Bitcoin Depot Inc.

5,755

—

(23,550

)

—

(17,795

)

Other comprehensive income (loss), net of tax

Net (loss) income

18,524

—

(15,382

)

—

3,142

Foreign currency translation adjustments

66

—

—

—

66

Total comprehensive (loss) income

18,590

—

(15,382

)

—

3,208

Comprehensive income attributable to Legacy Bitcoin Depot
unit holders

12,885

—

—

—

12,885

Comprehensive income (loss) attributable to non-controlling
interest in subsidiary

(137

)

—

8,255

—

8,118

Comprehensive (loss) income attributable to Bitcoin Depot Inc.

$

5,843

$

-

$

(23,637

)

$

-

$

(17,794

)