An anonymous director reports

GALAXY ANNOUNCES UPSIZE OF BOUGHT DEAL FINANCING TO APPROXIMATELY US$125 MILLION

Galaxy Digital Holdings Ltd. has agreed to increase the size of its previously announced bought deal financing with Canaccord Genuity Corp. The underwriter has agreed to purchase, on a bought deal basis, an additional 2.35 million ordinary shares of the company at a price of $14 per ordinary share. As a result of the upsize, the aggregate number of ordinary shares purchase by the underwriter shall be 12.1 million ordinary shares for aggregate gross proceeds to the company of $169.4-million (or approximately $125-million (U.S.)).

The underwriter's option to purchase additional ordinary shares from certain selling shareholders at the offering price, to cover overallotments, if any, and for market stabilization purposes, has been upsized to 1,815,000 ordinary shares.

The offering is expected to close on or about April 12, 2024, and is subject to customary closing conditions, including receiving all necessary regulatory approvals.

The offering will be made by way of a prospectus supplement to the company's short form base shelf prospectus dated March 26, 2024, in all provinces and territories of Canada (other than Quebec), and may be offered in the United States to persons who are both qualified institutional buyers, as defined in Rule 144A as promulgated under the United States Securities Act of 1933, as amended, and qualified purchasers (as defined in Section 2(a)(51) for purposes of Section 3(c)(7) of the Investment Company Act of 1940 and the rules promulgated thereunder), and in certain jurisdictions outside of Canada and the United States, provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.

The net proceeds of the offering to the company will be used for working capital and general corporate purposes. The company will not receive any proceeds from the sale of ordinary shares in connection with the overallotment option.

The prospectus supplement will be filed on SEDAR+ on or before April 11, 2024.

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 operation businesses: (i) global markets; (ii) asset management; and (iii) digital infrastructure solutions. The company's offerings include, amongst 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.

We seek Safe Harbor.