Argo Blockchain : Investor Presentation (Mar 2022)

We power the world's most innovative and sustainable blockchain infrastructure

argoblockchain.com

ARGO BLOCKCHAIN

Investor Presentation

March 2022

NASDAQ: ARBK; LSE: ARB

LEGAL DISCLAIMERS

Forward Looking Statements

This presentation contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the build-out and expected completion of our Helios mining facility in Texas. Forward-looking statements can be identified by words like "may," "will," "likely," "should," "expect," "anticipate," "future," "plan," "believe," "intend," "goal," "seek," "estimate," "project," "continue" and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, the principal risks and uncertainties listed in our risk factors set forth in our filings with the Securities and Exchange Commission (the SEC).

Non-IFRS Measures

This presentation contains references to certain non-IFRS measures including EBITDA, EBITDA margin and mining margin, each of which are not recognized under International Financial Reporting Standards ("IFRS"). Our management team uses these non-IFRS financial measures to evaluate our profitability and efficiency, to compare operating results to prior periods, and to measure and allocate financial resources internally. The Company believes that these non-IFRS financial measures may be helpful to investors because they provide consistency and comparability with past financial performance and may assist in comparisons with other companies, some of which use similar non-IFRS financial information to supplement their IFRS results. The non-IFRS financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly titled non-IFRS measures used by other companies. EBITDA, EBITDA margin and mining margin each have limitations as analytical tools, and you should not consider any of these measures either in isolation or as a substitute for other methods of analyzing the results as reported under IFRS.

Exchange Rates

For the convenience of the reader, in this presentation, unless otherwise indicated, translations from pound sterling into U.S. dollars were made at the rate of £1.00 to $1.35, which was the noon buying rate of the Federal Reserve Bank of New York on September 30, 2021. Such U.S. dollar amounts are not necessarily indicative of the amounts of U.S. dollars that could actually have been purchased upon exchange of pound sterling at the dates indicated or any other date.

Argo at-a-glance

Industry-leading cryptocurrency miner with a focus on sustainability

	1,605				24,000+			100%
	PH capacity				Mining machines in			Carbon neutral
	(SHA-256)1				Canada & US1			(includes carbon credits)

83%

2,685

~10% HODL

Mining margin in 2021

HODL of Bitcoin and

Allocation to Argo Labs for

(industry leading)2,3

Bitcoin Equivalents1,4

non-mining activities

1. As of February 28, 2022. 2. Please see Appendix for reconciliation for non-IFRS measures to IFRS. 3. Argo mining margin defined as: (cryptocurrency mining revenue

- direct costs) / cryptocurrency mining revenue. For Full Year 2021. 4. Includes 246 BTC

3

Argo is one of the most efficient, sustainable, and forward-thinking miners in the world

Mining at scale using		Climate positive		Argo Labs is
low cost power with		with focus on		diversifying into
focus on efficiency		sustainability		non-mining activities

4

Track Record of Execution

Significant scaling since inception and clear visibility to continued growth

Texas facility expected to be

online by H1 2022

~3,700 PH1

Company Founded

Listed on LSE as a

Mining-as-a-Service

("MaaS") company

$3,687

0.76 PH

Pivoted from MaaS to

mining for own account & began fleet accumulation

$7,167

220 PH

						Acquired 160 acres to build 200
						MW facility in Texas, as well as
Diversified into digital	two Quebec data centers1
			$46,320
		1,605 PH
blockchain infrastructure
			$29,023
		645 PH

Dec 2018

Dec 2019

Dec 2020

Dec 2021

Oct 2022E

Note: BTC Prices represent year-end figures at close..
1. Based on current orders.	5