Al Abraaj made a historic initial purchase of Bitcoin for its corporate treasury, becoming the first publicly listed company in the Middle East to adopt a Bitcoin treasury strategy

• Al Abraaj is the first publicly listed company in the Gulf Cooperation Council (GCC) and the Middle East to adopt a Bitcoin Treasury strategy, similar to MicroStrategy (Nasdaq:MSTR) and Tesla (Nasdaq: TSLA), and Metaplanet (Tokyo: 3350.T) which was the best performing stock in the world in 2024.
• 10X is a NYC-based investment firm focused on the Bitcoin Treasury space, who most recently advised Nakamoto on its $710M fundraise (Nasdaq:KDLY), which was the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever.
• In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.

Manama, Kingdom of Bahrain – May 18, 2025 – Al Abraaj Restaurants Group B.S.C. (Ticker: ABRAAJ) (“Company”), a public listed company on the Bahrain Bourse, is pleased to announce that it has purchased Bitcoin for its balance sheet, becoming the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council (“GCC”), and the Middle East to acquire Bitcoin as a treasury asset. This initiative marks a significant step in the company’s commitment to innovation and diversification.

Al Abraaj has acquired an initial amount of 5 Bitcoin. In alignment with the evolving financial landscape and the growing institutional interest in Bitcoin, Al Abraaj will build on this initial purchase and begin allocating a significant portion of its corporate treasury into Bitcoin. Al Abraaj considers Bitcoin to be its reserve treasury asset. Al Abraaj is a profitable company, with 2024 EBITDA of USD $12.5 million. This move is designed to enhance the company’s asset portfolio and capitalize on emerging opportunities within the capital markets.

The Company has partnered with 10X Capital, the NYC-based investment firm with a track record of managing treasury assets for publicly listed companies, and advising and capitalizing listed Bitcoin Treasury Companies, including most recently advising Nakamoto on its $710M financing (Nasdaq:KDLY), the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever.

The decision to begin purchasing Bitcoin as a treasury asset follows comprehensive due diligence. Al Abraaj Restaurants Group B.S.C. is committed to full compliance with all applicable laws and regulations, including those pertaining to digital asset transactions and disclosures.

“Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,” said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C.. “We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.”

“I’d like to congratulate Abdulla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,” said Hans Thomas, CEO of 10X Capital. “Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.” Mr. Thomas added, “The GCC, with a combined GDP of $2.2 trillion—larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain—over $6 trillion in sovereign wealth funds, and a population of just 57.6 million, has until now lacked a publicly listed Bitcoin treasury company like Strategy (Nasdaq: MSTR), Tesla (Nasdaq: TSLA), or Metaplanet (Tokyo: 3350.T). That changes today with ABRAAJ’s historic Bitcoin purchase where almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.”

Al Abraaj Restaurants Group B.S.C. will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings, including by creating a Bitcoin Committee that will consist of experienced Bitcoin investors and portfolio managers and global capital markets experts. The company intends to provide regular updates to shareholders and stakeholders regarding its Bitcoin-related activities.

This strategic initiative underscores Al Abraaj Restaurants Group B.S.C.’s commitment to innovation, diversification, and long-term growth. The company looks forward to contributing to the development of Bahrain’s digital economy and establishing its position as a leader in the region’s financial sector.

About Al Abraaj Restaurants Group B.S.C.

Al Abraaj Restaurants Group B.S.C. is a 38-year old, profitable hospitality firm listed on the Bahrain Bourse. The company is dedicated to delivering value to its shareholders through strategic investments and innovative financial solutions.

For more details, please contact: btc@alabraajgroup.com

About 10X Capital

10X Capital is a New York-based investment firm, and one of the most active technology investors globally, aligning Wall Street with Silicon Valley, and beyond. Founded by pioneering digital currency and fintech entrepreneur Hans Thomas (founding team, InternetCash), senior leadership includes Dr. Russell Read (former CIO, CalPERS, Alaska Permanent Fund, Gulf Investment Corporation), Austin Alexander (NY Bitcoin Center, Kraken), Alexander Monje (DWAC – Nasdaq:$DJT), and Max Staedtler (Goldman Sachs, Coinbase listing). With capabilities in asset management, treasury management, and investment banking, the firm takes a holistic merchant banking approach to Digital Assets Treasury Companies, to help develop capital markets strategies with global reach. 10X’s Bitcoin-related portfolio companies include Milo.io, Bitwise, Bitpay, Valkyrie (acquired by Coinshares), Makara (acquired by Betterment), PrimeBlock (acquired by Cleanspark) and Worldcoin.

For more information, visit www.10XCapital.com.

• Al Abraaj Restaurants Group has partnered with EazyPay to enable Bitcoin payments across all its Bahrain branches.
• Abraaj has acquired 2 additional Bitcoin for ~$208,200, at an average price of ~$104,100 per coin. As of today, its treasury holds 7 BTC in total, purchased at an average price of ~$97,743 per Bitcoin.
• The group has launched its official Bitcoin treasury portal at www.abraajbitcoin.com, serving as a hub for its BTC strategy, holdings updates, educational resources, and global brokerage access.

Al Abraaj Restaurants Group hosted an exclusive corporate event that brought together a distinguished group of investors and traders as well as representatives from the regions largest brokerages and exchanges.
The Bahrain listed company announced it’s strategic moves: accepting Bitcoin payments at all branches and adding 2 more bitcoin to its treasury.

The strategy was explored in depth at the event held at the company’s award winning Italian restaurant, San Carlo Cicchetti in Al Aali Mall. The event was billed as the official announcement of the group’s adoption of Bitcoin as part of its corporate treasury, making it the first publicly listed company in the Middle East to take such a step. This was made possible through a strategic partnership with NYC-based alternative asset management firm 10X Capital.

Drawing inspiration from leaders like MicroStrategy, Nakamoto and Metaplanet, Al Abraaj is now charting it’s path towards a Bitcoin‑centric treasury approach.

Abdulla Isa, CEO of the group’s Bitcoin Treasury Strategy, delivered a detailed presentation outlining the initiative launched in May with the purchase of 5 Bitcoin. The group has since added 2 more bitcoin to the treasury, bringing its total holdings to 7 Bitcoin.

He explained that Bitcoin is now a reserve asset on the company’s balance sheet, as part of a broader plan to increase future investments in Bitcoin and raise the “Bitcoin per Share” (BTC/Share) metric.
He also highlighted that Al Abraaj shares are available for purchase through licensed platforms such as Al Ramz, SICO, Mubasher, and others, offering investors across Bahrain, the GCC, and beyond the opportunity to participate.

In addition, the group has announced a partnership agreement with EazyPay, under which Bitcoin payments will be accepted across all Al Abraaj restaurants group’s branches in Bahrain. Customers will be able to pay by scanning a QR code at the point of sale, using a Bitcoin wallet integrated with the EazyPay app for a seamless payment process.

Naif Al Alawi, CEO of EazyPay, stated:

“We are thrilled about this pioneering collaboration with Al Abraaj Restaurants Group. We’ve built the infrastructure to allow customers to use Bitcoin as a smooth and secure payment method, as part of our broader vision to support digital asset payment solutions. This step places Bahrain at the forefront of digital financial transformation in the retail and hospitality sectors.”

For his part, Abdulla Isa, CEO of the Bitcoin Treasury Strategy at Al Abraaj Restaurants Group, commented:
“We’re not just adopting Bitcoin as a financial asset , we are integrating it into our daily operations. Accepting Bitcoin payments is a natural continuation of our financial transformation and strategic innovation. Our continued Bitcoin purchases reflect our long-term confidence in this asset and enhance the resilience of our treasury.”
As part of this strategic rollout, Al Abraaj Restaurants Group is also proud to announce the launch of its official Bitcoin treasury website: www.abraajbitcoin.com. The platform serves as a central hub for detailed information about the company’s Bitcoin Treasury Strategy, updates on BTC holdings, and educational resources. It also provides guidance on how to invest in ABRAAJ shares, featuring access points to both local and international brokerage platforms, making it easier than ever for investors around the world to participate in this pioneering movement.
About Al Abraaj Restaurants Group B.S.C.

Al Abraaj Restaurants Group B.S.C. is a 38‑year‑old, profitable hospitality firm listed on the Bahrain Bourse under the ticker ABRAAJ. As a pioneer in Bahrain’s dining scene, the group operates over 40 outlets across 15 brands ranging from its flagship Al Abraaj Restaurant to brands like Nu Asia, Bindaira, Lumee and YaSalam. The company is dedicated to delivering value to its shareholders through strategic investments and innovative financial solutions.

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