Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 177

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 177
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or forfeited.

In August 2023, Circle entered into an agreement with a digital asset exchange to grant warrants to purchase up to 3.6 million common
shares of a consolidated subsidiary that will be automatically converted one for one into shares of Class A common stock upon exercise. The warrants have an exercise price of $25.09 per share and an exercise period of five years from the grant
date. The warrants are subject to a performance condition. This condition has not been met, and none of the common shares associated with these warrants have been exercised or forfeited or have expired.

In December 2024, Circle entered into an agreement with a commercial counterparty to grant warrants to purchase up to approximately 2.9 million shares of
Class A common stock. The warrants have an exercise price of $22.71 per share and an exercise period of six years from the grant date. The vesting of the warrants is subject to certain conditions to be achieved over a three-year period. As of
June 30, 2025, certain performance conditions of those warrants have been met. None of the common shares associated with these warrants have been exercised, forfeited or expired.

Other commitments and contingencies

Our
commitments for facilities leases under non-cancelable operating leases amounted to $25.8 million as of June 30, 2025. In January 2024, Circle commenced a lease for corporate office space. The estimated total commitments related to this lease
(excluding expected build-out costs, taxes, utilities, and other operating expenses) over the nine years and nine months lease term is approximately $28.4 million. As of the date of this prospectus, we did not have any other material commitments for
cash expenditures.

We are involved in claims, lawsuits, government investigations, and proceedings arising from the ordinary course of our business. We
record a contingent liability when we believe that it is both probable that a liability has been incurred and that the amount can be reasonably estimated. Refer to Note 23 to our audited consolidated financial statements and Note 22 to our unaudited
condensed consolidated financial statements included elsewhere in this prospectus for a summary of our contingent liabilities. Significant judgment is required to

109

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 determine both probability and the estimated amount. Such legal proceedings are inherently unpredictable and subject to significant uncertainties, some of which are