BLSH · Bullish

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $43.91 to $44.90. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $42.90 to $43.89. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $41.90 to $42,89. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $44.91 to $45.00. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

The incentive units in BMC1, a subsidiary of Bullish, are exchangeable for Ordinary Shares of Bullish upon vesting at any time, at the holder's election, and have no expiration date.

The incentive units in BMC1, a subsidiary of Bullish, are exchangeable for Ordinary Shares of Bullish upon vesting at any time, at the holder's election, and have no expiration date.

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $37.32 to $37.38. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $36.30 to $37.29. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

The shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

Represents the weighted average price of shares sold at prices that ranged from $35.30 to $36.29. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

Represents the exercise and settlement of the remaining 7,813 shares subject to a previously disclosed call option agreement, as amended and modified from time to time, between Buttonwood Investments I ("Buttonwood") and the optionholders thereto. Buttonwood is an exempted company domiciled in the Cayman Islands with limited liability. Brendan Blumer (the "Reporting Person") holds 100% of the outstanding equity interests in Buttonwood and is a director of Buttonwood. The Reporting Person disclaims beneficial ownership of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is or was the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose

The incentive units in BMC1, a subsidiary of Bullish, are exchangeable for Ordinary Shares of Bullish upon vesting at any time, at the holder's election, and have no expiration date.

The incentive units in BMC1, a subsidiary of Bullish, are exchangeable for Ordinary Shares of Bullish upon vesting at any time, at the holder's election, and have no expiration date.