An anonymous director reports

GALAXY DIGITAL ANNOUNCES TSX APPROVAL OF SHARE REPURCHASE PROGRAM RENEWAL

The Toronto Stock Exchange has approved Galaxy Digital Holdings Ltd.'s plan to renew its normal course issuer bid to purchase up to 10,056,193 ordinary shares (10 per cent of the company's public float as of May 19, 2023).

The company intends to commence the renewed bid on May 31, 2023. The bid will terminate on May 30, 2024, or earlier if the maximum number of shares under the bid have been purchased. The company reserves the right to terminate the bid earlier if it feels it is appropriate to do so.

Under Galaxy's prior normal course issuer bid, which commenced on May 18, 2022, the company obtained approval to purchase up to a total of 10,596,720 ordinary shares. Pursuant to the prior bid, the company purchased, on the open market through the facilities of the TSX and alternative Canadian trading systems, the maximum of 10,596,720 ordinary shares allowed under the prior bid at a weighted average price of approximately $6.65 per ordinary share.

The company may use the program opportunistically at times when it believes that the current market price of its shares does not reflect their intrinsic value and that purchasing its own ordinary shares is consistent with the objective of creating long-term shareholder value.

Additional information regarding the bid:

• Daily purchases will be limited to 210,504 ordinary shares, other than block purchase exceptions. As at May 19, 2023, the company had 106,209,761 ordinary shares issued and outstanding and a public float of 100,561,931 ordinary shares.
• Subject to approval of the TSX, the company may enter into a share purchase plan to facilitate the purchase of ordinary shares pursuant to the bid and under which its broker may purchase ordinary shares according to a prearranged set of criteria. If implemented, the plan will enable the purchase of ordinary shares at any time, including when the company would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into will be adopted in accordance with applicable securities laws and announced by news release. Outside of the restricted periods, the timing of purchases will be determined by management of the company.
• Purchases will be made on the open markets through the facilities of the TSX as well as through alternative trading systems in Canada upon which the shares are traded. The actual number of shares that may be purchased under the bid, the value of the consideration per share and the exact timing of any such purchases will be determined by the company and will depend on, among other things, future market conditions. All shares will be purchased for cancellation.
• All shares purchased by the company under the bid will be purchased at the market price at the time of acquisition in accordance with the rules and policies of the TSX and applicable securities laws. All purchases will be financed out of the company's working capital.
• The bid has been approved by the company's board of directors.
• The ordinary shares will be purchased on behalf of the company by Goldman Sachs Canada Inc.
• The average daily trading volume for the six calendar months prior to May 26, 2023, was 842,017 ordinary shares.

About Galaxy Digital Holdings Ltd.

Galaxy is a digital asset and blockchain leader providing access to the growing digital economy. The company serves a diversified client base, including institutions, start-ups and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: global markets, asset management and digital infrastructure solutions. Its offerings include, among others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York, with global offices across North America, Europe and Asia.

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