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BLOCKFI, INC. SECURITIES LITIGATIONIf you invested, deposited, or otherwise acquired assets in BlockFi Interest-Bearing Accounts (including the products referred to as BlockFi Interest Accounts, BlockFi Private Yield, and the BlockFi Private Client program), issued by BlockFi, Inc. or any affiliated entities (“BlockFi” or the “Company”) between January 1, 2019 to November 28, 2022, both dates inclusive (the “Settlement Class Period”), you could get a payment from a Class Action Settlement (“Settlement”).&nbsp;A federal Court authorized this website. This is not attorney advertising.<ul style="list-style-type:disc;"><li style="text-align:justify;">The Court will hold a Settlement Hearing on ____, 20__ at _____ to decide whether to approve the Settlement. If approved by the Court, the Settlement will provide $13,250,000 gross (the “Settlement Amount”), plus interest as it accrues, minus attorneys’ fees, costs, compensatory awards to Plaintiffs and administrative expenses, net of any taxes on interest (the “Net Settlement Amount”), to pay claims of investors who invested, deposited, or otherwise acquired assets in BlockFi Interest-Bearing Accounts during the Settlement Class Period.</li><li style="text-align:justify;">Holders of BlockFi Interest-Bearing Accounts are eligible to receive a pro rata distribution from the Net Settlement Fund based on the value of their BlockFi Interest-Bearing Accounts as of November 28, 2022, or the day BlockFi filed for bankruptcy, as determined by their allowed claim associated with such account in the BlockFi Chapter 11 proceedings. The amount of payment each Settlement Class Member receives depends on the aggregate values of BlockFi Interest-Bearing Accounts of all Settlement Class Members participating in the Settlement. Distributions to Settlement Class Members will be made based on the Plan of Allocation set forth herein (see pages 12–16 below) or such other plan of allocation as may be ordered by the Court.</li><li style="text-align:justify;">To claim your share of the Settlement, you do not need to take any action. However, if you opted out of certain releases in BlockFi’s bankruptcy, you may exclude yourself or “opt out” of the Settlement, as described in Item 13 below, by ______, 20__. If you did not exclude yourself from or opt out of certain releases in BlockFi’s bankruptcy, and you are a Settlement Class Member, you may not exclude yourself or “opt out” of the Settlement.&nbsp;</li><li style="text-align:justify;">Attorneys for Plaintiffs (“Lead Counsel”) intend to ask the Court to award them fees and expenses not to exceed $2.7 million, or 20.4% percent of the Settlement Amount, inclusive of litigation expenses and compensatory awards to Plaintiffs, plus interest. Since the Litigation’s inception, Lead Counsel have expended considerable time and effort in this litigation on a contingent-fee basis and have advanced the expenses of the litigation in the expectation that if they were successful in obtaining a recovery for the Settlement Class, they would be paid from such recovery. If approved by the Court, these amounts will be paid from the Settlement Fund.</li><li style="text-align:justify;">The Settlement resolves the Litigation concerning Plaintiffs’ allegations that Zachary Prince, Flori Marquez, Tony Lauro, Jennifer Hill, Amit Cheela, David Olsson, and Samia Bayou (collectively, “Defendants”) violated federal securities laws by allegedly issuing BlockFi Interest Accounts (“BIAs”) without registering them as securities; and/or making misrepresentations and/or omissions of material fact in public statements to the investing public concerning, inter alia: (1) the equivalence of BIAs to federally insured bank accounts; (2) whether cryptocurrency in “BlockFi Wallets” would transfer to BlockFi; (3) that BlockFi would not “concentrate” investments; (4) that loans or pledges of crypto assets were to safe institutional counterparties; and (5) the importance of risk management to BlockFi. Defendants have denied and continue to deny each, any, and all allegations of wrongdoing, fault, liability, or damage whatsoever asserted by Plaintiffs. Defendants have also denied, inter alia, the allegations that Plaintiffs or the Settlement Class have suffered damages or that Plaintiffs or the Settlement Class were harmed by the conduct alleged in the Litigation. Defendants continue to believe the claims asserted against them in the Litigation are without merit.</li><li style="text-align:justify;">The parties disagree on how much money, if any, could have been won if the investors won at trial in the Litigation.</li><li style="text-align:justify;">Your legal rights will be affected whether you act or do not act. If you do not act, you may permanently forfeit your right to pursue claims against Defendants and any other Releasees. Therefore, you should read this &nbsp;carefully.</li></ul><figure class="table"><table style=";"><tbody><tr><td style="border:1.0pt solid windowtext;padding:0in 5.4pt;vertical-align:top;width:6.65in;" colspan="2">YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT</td></tr><tr><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:solid;border-right-style:solid;border-top-style:none;border-width:1.0pt;padding:0in 5.4pt;width:113.4pt;">DO NOTHING</td><td style="border-bottom:1.0pt solid windowtext;border-left-style:none;border-right:1.0pt solid windowtext;border-top-style:none;padding:0in 5.4pt;width:365.4pt;">&nbsp;You do not need to do anything to receive payment from the Net Settlement Fund. If the Claims Administrator determines that you are a member of the Settlement Class and eligible to receive a distribution from the Net Settlement Fund, you will automatically receive a distribution from the Net Settlement Fund unless you exclude yourself from the Settlement. &nbsp;</td></tr><tr><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:solid;border-right-style:solid;border-top-style:none;border-width:1.0pt;padding:0in 5.4pt;width:113.4pt;">EXCLUDE YOURSELF</td><td style="border-bottom:1.0pt solid windowtext;border-left-style:none;border-right:1.0pt solid windowtext;border-top-style:none;padding:0in 5.4pt;width:365.4pt;">Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Releasees about the legal claims that were or could have been asserted in this case. Note, however, that certain releases in favor of Defendants and other Releasees have previously occurred in connection with BlockFi’s bankruptcy. Excluding yourself in this case will have no impact on any release of your claims against Defendants and other Releasees that may have already occurred in connection with BlockFi’s bankruptcy if you did not exclude yourself from those releases. Participating in or excluding yourself from the Settlement in this case also will neither increase nor decrease any recovery you may be entitled to receive in connection with BlockFi’s bankruptcy. Requests for Exclusion must be received by ____, 20__</td></tr><tr><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:solid;border-right-style:solid;border-top-style:none;border-width:1.0pt;padding:0in 5.4pt;width:113.4pt;">OBJECT</td><td style="border-bottom:1.0pt solid windowtext;border-left-style:none;border-right:1.0pt solid windowtext;border-top-style:none;padding:0in 5.4pt;width:365.4pt;">Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees, costs, and expenses. You will still be a member of the Settlement Class. Objections must be received by counsel by ____, 20__</td></tr><tr><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:solid;border-right-style:solid;border-top-style:none;border-width:1.0pt;padding:0in 5.4pt;width:113.4pt;">GO TO THE HEARING</td><td style="border-bottom:1.0pt solid windowtext;border-left-style:none;border-right:1.0pt solid windowtext;border-top-style:none;padding:0in 5.4pt;width:365.4pt;">Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by counsel by ____, 20____. The Settlement Hearing is set for _________, 202__.</td></tr><tr><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:solid;border-right-style:solid;border-top-style:none;border-width:1.0pt;padding:0in 5.4pt;width:113.4pt;">DO NOTHING</td><td style="border-bottom:1.0pt solid windowtext;border-left-style:none;border-right:1.0pt solid windowtext;border-top-style:none;padding:0in 5.4pt;width:365.4pt;">Get no payment. Give up your rights.</td></tr></tbody></table></figure>INQUIRIESPlease do not contact the Court regarding this website.&nbsp;All inquiries concerning this website or any other questions by Settlement Class Members should be directed to:&nbsp;<figure class="table"><table style=";"><tbody><tr><td style="border:1.0pt solid windowtext;padding:0in 5.4pt;vertical-align:top;width:224.75pt;">BlockFi Securities Litigation c/o Kroll Settlement Administration LLC PO Box 225391 New York, NY 10150-5391 Tel.: +1 833-876-2075 Fax: [] [Email]</td><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:none;border-right-style:solid;border-top-style:solid;border-width:1.0pt;padding:0in 5.4pt;vertical-align:top;width:13.35pt;">or</td><td style="border-bottom-style:solid;border-color:windowtext;border-left-style:none;border-right-style:solid;border-top-style:solid;border-width:1.0pt;padding:0in 5.4pt;vertical-align:top;width:229.4pt;">Brian Calandra POMERANTZ LLP 600 Third Avenue, Floor 20 New York, New York 10016 Telephone: (212) 661-1100&nbsp; Facsimile: (917) 463-1044&nbsp; Email: bcalandra@pomlaw.comSQUITIERI &amp; FEARON, LLP Lee Squitieri 305 Broadway, 7th Floor New York, New York 10007 Telephone: (212) 421-6492 lee@sfclasslaw.com&nbsp;</td></tr></tbody></table></figure>

UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY Case No. 2:23-cv-01165-CCC-LDW

BLOCKFI, INC. SECURITIES LITIGATION