ANAP Holdings Announces Commencement of Strategic Joint Venture Discussions with Exordium

ANAP Holdings Co., Ltd. (Headquarters: Tokyo, Japan; President and CEO: Tarou Kawaihayashi, hereinafter "the Company") and Exordium Limited, developer and operator of the large-scale multiplayer online game (MMO) "Infinite Fleet" set in a space-themed universe (Head Office: c/o Hermes Corporate Services Ltd., 5F Zephyr House, 122 Mary Street, George Town, Grand Cayman KY1-1206; Director: Samson Mow), announce the signing of a Letter of Intent (hereinafter "this LOI") on June 25, 2026, to initiate discussions on establishing a strategic investment partnership.

Purpose of the LOI

Under this LOI, the Company and Exordium have agreed to jointly explore business opportunities for publishing premium mobile games to global markets, establish a concrete development framework, and consider investment of operational funds (equivalent to approximately 1.6 billion yen) in Bitcoin or cash.

The key terms of the LOI are as follows:

- Obligations of Exordium

1) Exordium shall prepare a comprehensive business plan, including market research, concept development, and organizational structure, for a space-themed mobile game.

2) Exordium shall consult with content providers to formulate development and promotional strategies.

3) Exordium shall secure licensing agreements from intellectual property holders for the relevant content.

- Obligations of the Company

1) Upon confirmation that Exordium has fulfilled its obligations under the LOI, the Company shall enter into a formal joint venture agreement.

2) Following the execution of the joint venture agreement, the Company shall provide operational funding to Exordium. The method of funding (cash or Bitcoin) will be determined through separate discussions.

Strategic Significance of the Initiative

The global gaming market, particularly mobile gaming, reached approximately $81 billion in in-app purchase (IAP) revenue in 2024*1, with the strategy game segment alone estimated at $18 billion (2024 projection). This segment is projected to grow to $35 billion by 2033*2.

The Company has identified significant growth potential in this sector and the unique positioning of "Infinite Fleet" as a niche sci-fi space MMO. Key investment considerations include:

- Establishing a leading position in the rare space fleet strategy MMO genre

- Demonstrated monetization potential evidenced by competing titles such as NetEase's "Infinite Lagrange" and Scopely's "Star Trek Fleet Command" (which achieved over $100 million in cumulative revenue within 8 months of launch*3)

- Broad user acquisition opportunities through cross-platform availability on PC and mobile

- Dual realization of user engagement and new revenue models through integration with the Bitcoin ecosystem

About Exordium

Exordium is a game publisher backed by prominent global Bitcoin investors. The company has raised a total of $13.7 million from leading entities including Tether Limited (issuer of the world's largest stablecoin, USDT), Adam Back (inventor of Hashcash, cited in the Bitcoin whitepaper), and Fulgur Ventures (a venture capital firm specialized in Bitcoin-focused investments)*5.

Development and production of "Infinite Fleet" are handled by Pixelmatic, while Exordium serves as the global distributor responsible for publishing and commercial operations.

### Overview of Exordium Limited

- Company Name: Exordium Limited

- Head Office: c/o Hermes Corporate Services Ltd., 5F Zephyr House, 122 Mary Street, George Town, Grand Cayman KY1-1206

- Representative: Director: Samson Mow

- Core Business: Development, publishing, and live operations of digital games

- Major Investors: Tether Limited, Adam Back, Fulgur Ventures, among others

### About Infinite Fleet

"Infinite Fleet" is a large-scale multiplayer online game (MMO) developed by Exordium, set in a science fiction universe. Players command fleets across vast cosmic spaces, competing for galactic dominance through exploration, construction, alliance formation, and combat.

The game is set in a universe where humanity expands into space in response to invasions by the alien force "Atrox." Players influence the dynamically evolving galactic landscape through strategic decision-making and cooperative gameplay.

The game's defining feature as an MMO is the triad of "player-driven economy, diplomacy, and military affairs," going beyond individual gameplay. As demonstrated by veteran titles like EVE Online, space MMOs foster high player retention and sustained monetization*4. "Infinite Fleet" aims to deliver this next-generation experience across both mobile and PC platforms.

Image Credit: Exordium (Used with permission for this press release)

https://www.infinitefleet.com/

www.youtube.com/@InfiniteFleetTV

Financial Impact

The signing of this Letter of Intent will have no immediate impact on the Company's consolidated financial results.

Should the execution of a formal agreement lead to financial implications, the Company will disclose such information promptly.

Comments

Tarou Kawaihayashi, President and CEO, ANAP Holdings Co., Ltd.

"We highly value this project, not only because it involves globally renowned Bitcoin-related enterprises and influential Bitcoin investors, but also because Samson Mow, who possesses deep expertise in both the gaming industry and the Bitcoin ecosystem, leads the development. We believe this title holds significant growth potential as a game and, more importantly, represents a crucial initiative that contributes to the wider adoption and real-world implementation of Bitcoin by creating new economic zones and communities. We share this vision and future potential and will support this project accordingly."

Samson Mow, Director, Exordium Limited

"With the strategic partnership with ANAP Holdings, our foundation for delivering Infinite Fleet to a broader player base has become even stronger. Our goal is to realize an MMO where each player can genuinely impact the world on the infinite stage of space."

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