TINTIN

- MSTR-TESLA-SWC -LOC-

[TINTIN @Exbooty40cdo]

This man is a machine! hats off boss great news 👏

[Andrew Webley @asjwebley]

Another important milestone for Smarter Web.

Following FCA approval of the Prospectus, we are launching the IPO of our new "MORE" Preferred Shares, targeting gross proceeds of £15m to £25m through Institutional and Retail Offers.

LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8

[TINTIN @Exbooty40cdo]

@TRobinsonNewEra 🐀 🐀

[The Smarter Web Company @smarterwebuk]

Final Reminder and Timing Update:

Smarter Web Livestream tomorrow, Thursday 22 October, now at 16:00 BST / 17:00 CEST / 11:00 ET.

Please note the new time: the livestream has moved from 14:00 BST to 16:00 BST.

@millercole is joined by @_Adrian, founding member of @TNorth and Independent analyst.

Watch live here on X or Youtube.

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[Miller Cole @millercole]

Wednesday morning update: $MORE broker availability👇

Heads-up: Trading 212, eToro, Fidelity and Freetrade are the ones we still need to chase. If you use any of them, please message, email and keep asking until they list MORE.

Good news: Barclays is now live, so 9 of 13 brokers are green. Here's where things stand:

🟢 Hargreaves Lansdown: live on the HL website and app. You may need to complete the complex product questionnaire first
🟢 Interactive Investor: live and trading online. Some accounts need a quick appropriateness assessment first
🟢 IG: live, including ISAs
🟢 AJ Bell: live, and "MORE" shows up in search
🟢 Lloyds, Halifax, Bank of Scotland Share Dealing and Scottish Widows ISA: available to buy
🟢 Redmayne Bentley: MORE is now set up
🟢 Charles Stanley: live. Online orders going through
🟢 Interactive Brokers (IBKR): live. The app can show the market as closed during trading hours, so stick with it or use a limit order
🟢 Barclays: now live, including ISAs

🔴 Trading 212: not available yet. We know this one is proving very difficult, with some told it doesn't meet their criteria and others that it's being reviewed due to popular request. Please keep asking

🔴 eToro: not listed yet. Requests forwarded, no timescale yet
🔴 Fidelity: not listed yet, but looking into it. Please keep chasing
🔴 Freetrade: not listed yet. You can vote for MORE using their request form

🔎 Search tip: if your broker doesn't find "MORE", search by the ISIN GB00C0HJ0D12 instead.

Look how far we've come in just a few days! That's what persistence does. Four to go, so let's keep the pressure on until every light is green. We appreciate everyone's efforts.

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[Andrew Webley @asjwebley]

Really looking forward to this one.

Next Thursday, Adrian Morris (@_Adrian), founding member of True North (@TNorth) and independent analyst, will be joining Miller Cole (@millercole) for the next SWC Livestream.

It should be a fascinating conversation, and one not to miss. In the meantime, catch up on our previous livestreams over on the SWC YouTube channel:

https://t.co/njzoBEbFyX

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[Andrew Webley @asjwebley]

This morning we announced our largest Bitcoin purchase of the year (so far). We acquired a further 83 Bitcoin, taking our total holdings to 2,830 Bitcoin.

Alongside this, we announced a reduction in our Coinbase credit facility to £16 million.

These two decisions reflect how we think about capital allocation and the long-term future of Smarter Web.

We want MORE to be the most senior claim on our balance sheet. I believe that building our capital structure around this principle is important to scaling MORE into the income equity we believe it has the potential to become.

At the same time, we want to continue increasing our Bitcoin holdings, particularly when we believe Bitcoin is attractively priced, whilst continuing to grow our operating businesses.

These objectives are not mutually exclusive. The opportunity is in balancing them intelligently.

I believe we have demonstrated to shareholders that we can make disciplined capital allocation decisions, balancing the opportunities for growth with the importance of maintaining a strong balance sheet. That approach will remain central to how we build Smarter Web.

What makes the future particularly exciting is that we now have two distinct equities trading on the Main Market of the London Stock Exchange.

SWC, our growth equity, offers investors exposure to the potential growth of Smarter Web, our operating businesses and our Bitcoin treasury.

MORE, our income equity, is designed to provide investors with a different proposition through a cumulative variable-rate preferential dividend, payable weekly.

Two equities, two different investment propositions, but one company and one long-term ambition.

I believe having access to these different pools of capital gives us an incredibly exciting opportunity to scale Smarter Web, strengthen our balance sheet and create long-term shareholder value.

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[Miller Cole @millercole]

Smarter Web has acquired a further 83 Bitcoin, taking holdings to 2,830, funded from MORE IPO proceeds and existing cash. Those proceeds are also reducing drawings on the Coinbase facility from £17m to £16m.

Drawings are down 23% in three weeks, from £20.8m. Bitcoin per share is up 1.98% quarter to date.

Smarter Web now has two equities on the LSE Main Market. SWC is the growth equity. MORE is the income equity, with a cumulative variable-rate dividend payable weekly. Neither growth nor income is guaranteed.

Active balance sheet management is moving Smarter Web towards a simpler capital structure, built around those two equities. Adding Bitcoin and reducing debt are both steps in that direction.

I’m excited to see what MORE we can do over the rest of the quarter as we look to scale further. Feeling incredibly optimistic for the future.

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[Bitcoin Treasuries @BTCtreasuries]

JUST IN: British #Bitcoin treasury The Smarter Web Company's preferred stock ($MORE) is now tradable on the UK's largest retail stockbroker, Hargreaves Lansdown.

BTC-backed credit is booming 🔥🚀

[The Bitcoin Historian @pete_rizzo_]

BREAKING: 🇬🇧 THE UK'S FIRST EVER #BITCOIN DIGITAL CREDIT JUST STARTED TRADING ON THE LONDON STOCK EXCHANGE

THEY HAVE ALREADY RAISED OVER $10,000,000

THE SAYLOR EFFECT 🔥

[Bitcoin Treasuries @BTCtreasuries]

JUST IN: British #Bitcoin treasury The Smarter Web Company's BTC-backed preferred stock ($MORE) has just started trading on the LSE Main Market.

It offers a 12% annual dividend, paid weekly.

The UK's $STRC is here. Buckle up. 🔥🚀

[Zynx @ZynxBTC]

Smarter Web has raised £10 million for its MORE preferred IPO, the UK's first Bitcoin-backed preferred share.

Good to see it get over the line. Trading starts on 14 October with the first weekly dividend due on 9 November.

However, it also shows the scale of the challenge ahead. The target was £15 to £25 million, and £10 million was the minimum needed for the deal to proceed. Retail put in £7.6 million. Institutions just £2.4 million.

UK investors are clearly interested but UK institutions are not there yet.

The first 12 months will be about education. Most British investors have never heard of Bitcoin credit, let alone held it. Every weekly dividend paid on time builds the track record that brings the next wave of capital in.

The UK market needs to be inoculated, and that takes time.

For context, SATA launched in November 2025 with $200 million of notional and took 10 months to pass $1 billion.

MORE starts with £11.1 million. Reaching £100 million within a year would be a fantastic result.

Every market has to start somewhere and this is an exciting start.

This is day one for Bitcoin credit in the UK.

[Matthew Kerridge @matthewkerridge]

Before the excitement of next week kicks in it might be useful to have a quick reminder on how the FTSE 250 inclusion mechanics work.

Every quarter the FTSE Russell ranks all eligible UK companies by full market cap.

For the Dec review, the ranking date is Tue 1 Dec.

Changes are announced Wednesday 2 Dec and take effect after the close on Fri 18 Dec.

A company outside the FTSE 250 that ranks 325th or higher goes in automatically.

A FTSE 250 member only drops out if it falls to 376th or lower. The gap between the two rules stops companies yo-yoing in and out.

The index must hold exactly 250 companies. If more companies leave than enter, the gaps go to the highest-ranked companies not already in it, even if they're below 325th.

Today's picture based on Friday’s close:

Out: 4 members ranked 376th or lower (SDCL Efficiency, Rank Group, NCC Group, Meridian Mining), plus Harbour Energy, which moves up to the FTSE 100.

In automatically: Amaroq (319th), plus IG Group dropping down from the FTSE 100.

Now we need to fill the gaps:

250 - 4 dropping out - 1 heading to the FTSE 100 + 2 entering by dropping down from the FTSE 100 = 247, so 3 places need filling as it stands.

The next 3 companies not in the FTSE 250 index sit at 327th, 329th and 332nd.

Ranks in between are already held by existing FTSE 250 members.

Right now the effective entry point is 332nd, about £514m market cap.

The 325th-place automatic entry needs about £539m.

To be included on the 1 Dec ranking, as it stands, $SWC needs to rank 332nd or higher.

On current share count, that's a share price of about £1.37.

For automatic entry at 325th, it currently needs about £1.45.

With 7 weeks until cut off for December inclusion we’d need a compund weekly growth rate of 11.7%.

A linear 11.7% per week would look like this:

- Week 1 - £0.70
- Week 2 - £0.79
- Week 3 - £0.88
- Week 4 - £0.98
- Week 5 - £1.10
- Week 6 - £1.23
- Week 7 - £1.37

Obviously the path won’t be linear but the conclusion is clear…

With some Bitcoin support and MORE momentum FTSE 250 inclusion before Christmas certainly isn’t out of the question.

Onwards! 🚀

[Andrew Webley @asjwebley]

The fastest horse.🐎

In 2025, I was delighted when people started calling Smarter Web "the fastest horse" - particularly fitting given that horse-related websites have played an important role in our operating history.

We finished 2025 as the best-performing UK equity with a market cap above £50m.

And so far in 2026, we're leading the global Bitcoin treasury race.

But this is a marathon, not a sprint. There are some exceptional companies in this space, and staying ahead will take everything we've got.

The UK equity markets may not be the biggest in the world, but our size, growing recognition and relentless work ethic mean we deserve to be taken seriously on the global stage.

We respect the competition. We know what it takes. And I believe we can win.

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[Manus @Mahnsoo70815409]

@TuftyRaul @andysmith_asap @asjwebley Hope this helps you calm down Paul 🧡

[Andrew Webley @asjwebley]

This has been one of the most exciting weeks since Smarter Web became a public company. On Tuesday, we announced the launch of the IPO of MORE Preferred Shares and the publication of our Prospectus.

We have spent a lot of time over recent months talking about capital structure, Digital Credit, the importance of having access to different pools of capital and our ambition to continue developing the Bitcoin treasury model in the UK. It is therefore incredibly exciting to reach the point where we are able to launch MORE.

Subject to the IPO completing and Admission, MORE is expected to become the UK's first listed preferred share paying a weekly dividend.

I think that is something the entire Smarter Web team, including the Smarter Web shareholders, should be extremely proud of.

As I have written previously, I believe the development of new capital markets initiatives around Bitcoin treasury companies has the potential to significantly broaden the market. Not every investor wants the volatility associated with investing in the Ordinary Shares of a Bitcoin treasury company. Different investors have different objectives, different attitudes towards risk and different requirements from their capital.

That is one of the reasons I have been so interested in the development of Digital Credit and why I believe having different forms of capital available to Smarter Web can become an increasingly important part of our long-term strategy.

For regulatory reasons, I do not want to use this weekly update to go into the details of MORE or the IPO. We have published comprehensive regulatory announcements this week and we have also created a dedicated section on our website where investors can find further information.

Most importantly, anyone considering an investment in MORE should read the Prospectus available on our website in full, including the risk factors contained within it, before making any investment decision.

What I can say is that I am incredibly proud of the whole team and everyone else who has worked with us to reach this stage.

Projects like this do not happen overnight. There has been an enormous amount of work involved over many months. In recent weekly updates I have repeatedly referred to the amount of work taking place behind the scenes that I was unable to discuss publicly. It is extremely satisfying to now be able to share one of the things that so much of that work has been building towards.

Turning to the week itself, Monday was another busy day. We held our General Meeting, at which all three resolutions were passed with more than 99.8% of votes cast in favour. Among other things, this gave the Directors the authority required to allot Preferred Shares and resulted in the adoption of our new Articles of Association.

Thank you to everyone who took the time to vote. Shareholder support is never something that I take for granted, and I was very pleased to see such strong support for the resolutions.

Also on Monday, we provided an update on our Ordinary Share ATM-style Subscription Agreement. Approximately £1.89 million of gross proceeds were raised from the sale of 2,710,442 Ordinary Shares at approximately £0.70 per share. We also announced our intention to use some of the net proceeds to reduce the outstanding balance on our Coinbase Strategic Credit Facility from approximately £20.8 million to approximately £19.0 million.

Then came Tuesday. Following FCA approval of the Prospectus, we formally launched the IPO of MORE Preferred Shares. The regulatory announcements and Prospectus contain the information investors should use when considering MORE, including the terms, structure and associated risks.

For me Tuesday was an incredibly satisfying day.

When we listed Smarter Web in April 2025, we had big ambitions. Since then, we have built the largest public company Bitcoin treasury in the UK, moved to the Main Market of the London Stock Exchange, completed our first acquisition, developed new ways of accessing capital and continued growing the operating businesses that sit alongside our Bitcoin treasury.

MORE represents another step in that journey.

On Thursday, we published our quarterly investor update for the three months ended 30 September.

We work hard to communicate with shareholders consistently. These weekly updates are obviously an important part of that, alongside our regulatory announcements, Livestreams and other communications. However, I also think there is real value in periodically stepping back and looking at what has been achieved across a full quarter.

In this update we explained how we simplified and strengthened our capital structure, repaid Smarter Convert early, reduced the potential fully diluted share count associated with it, completed the £210 million capital reduction, reduced the amount outstanding on our Coinbase credit facility and ultimately reached the launch of MORE. At the same time, our operating businesses continued to perform in line with our expectations, serving more than 500 client websites across the Group.

Our ambition remains to build a stronger operating business, selectively acquire good businesses, grow our Bitcoin treasury and maintain a balance sheet and capital structure focused on increasing net Bitcoin value per fully diluted share over the medium to long term.

Thursday was also a good opportunity to communicate in a slightly less formal way, with Miller and I hosting another Smarter Web Livestream. Unsurprisingly, there was plenty to talk about this week.

I enjoy these conversations because regulatory announcements have to be formal and precise, whereas the Livestreams give us an opportunity to have a less formal conversation about Smarter Web, Bitcoin, capital markets and the industry we are helping to build.

I think this week demonstrates just how much Smarter Web has evolved since we became a public company. We have built something that is quite different from a traditional operating company, but also different from simply owning Bitcoin. We have operating businesses, a substantial Bitcoin treasury, access to public capital markets and, subject to completion of the IPO and Admission, potentially a new class of Preferred Shares designed for a different group of investors.

I hope that, from here, we also begin to see more coverage in the traditional media. I am proud of what we have built so far, and I think there is an important story to tell about what we are trying to achieve. Part of our job is to execute. Another part is making sure people understand what we are building and why we are building it.

As always, thank you to our shareholders for your continued support. There is plenty of work ahead of us, but I am happy with what we have been able to communicate this week. We keep building.

LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8

[The Smarter Web Company @smarterwebuk]

Smarter Web Livestream #7 - Tim Kotzman https://t.co/vkwPGoDryP

[Yves-André Graf @GrafYves]

The Smarter Web Company $SWC is about to become a very different company.

$MORE gives it a second capital-raising engine built on permanent capital, with a 35% amplification ceiling that @asjwebley says could eventually go much higher.

If this flywheel starts turning, what $SWC has achieved so far could look like a rounding error.

Great conversation with @asjwebley on what could be the next phase for @smarterwebuk. 👇

[Matthew Kerridge @matthewkerridge]

5 MORE for you 👇

[Chief @andysmith_asap]

Smarter Web's Capital Structure and MORE Preferred | Andrew Webley SLP780 @stephanlivera with @asjwebley
https://t.co/gThFOiaEJk

[Andrew Webley @asjwebley]

That was a good day. To be at the London Stock Exchange and open the market when Smarter Web up-listed was pretty special. And great that we had so many shareholders there with us.

Round 2 next week when #MORE starts [potentially] trading on Wednesday. A shame that the London Stock Exchange is undergoing refurbishments and we can not open the market again - but I have a lot to do at my desk so probably a good thing!

LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8

[The Smarter Web Company @smarterwebuk]

Final Reminder: Smarter Web Livestream tomorrow, Thursday 8 October, 14:00 BST / 15:00 CEST / 09:00 ET.

Miller Cole (@millercole) is joined by Tim Kotzman (@TimKotzman), founder of Bitcoin Treasuries Media and host of The Bitcoin Treasuries Podcast.

The conversation will explore how Bitcoin treasury companies are being covered, measured and understood.

Watch live here on X or Youtube.

LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8