TheSportExchange Announces Intent to Pursue NASDAQ Direct Listing

Performance-linked digital asset marketplace targeting H2 2026 listing; public launch scheduled for May 1, 2026

NEW YORK, Feb. 25, 2026 /PRNewswire/ -- TheSportExchange ("TSE"), operating as TSE Marketplace Ltd. in Europe, today announced its intent to pursue a direct listing of its ordinary shares on the Nasdaq or New York Stock Exchange. The company is targeting a listing in the second half of 2026, subject to market conditions and regulatory review. Chardan has been retained as financial advisor in connection with the proposed listing. With institutional appetite for sports-linked exposure accelerating, TSE believes now is the right moment to access the capital markets.

Building a Performance-Linked Marketplace for Global Sports

TSE has developed a digital marketplace enabling participants to acquire and trade performance-linked digital assets ("Keys") tied to professional sports teams and league standings. Asset pricing reflects verified on-field performance data and real-time market demand, creating a structured, transparent framework through which sports performance becomes a continuously tracked, tradable reference — rather than being tied to a binary outcome.

Public Launch Scheduled for May 1, 2026

TSE is currently operating in a limited, invite-only phase supporting structured onboarding ahead of full commercial release.

The platform is scheduled to launch publicly on May 1, 2026. The launch will introduce World Cup team Keys as the first globally distributed assets on the marketplace.

Technology Infrastructure

TSE is built on PandaSea Mainnet — a Layer-1 blockchain developed by PandaSea Inc., engineered for high throughput, deterministic settlement, and on-chain transparency across global sports markets. PANDA is the native gas token of PandaSea Mainnet.

TSE maintains a treasury of PANDA tokens as part of its operational infrastructure, ensuring liquidity for network settlement and transaction processing. Under PandaSea's network protocol, 0.56% of transaction volume processed on the network is directed toward open-market PANDA repurchases. Further detail regarding TSE's PANDA holdings and its economic relationship with PandaSea Inc. will be set forth in TSE's registration statement.

Management Commentary

Steve van Zutphen, Founder and CEO of TheSportExchange, stated:

"For the first time, sports fans around the world can participate in the performance of the teams they love, on a platform designed to turn fan engagement into new opportunities for the entire sports ecosystem."

About TheSportExchange

TheSportExchange is a performance-linked digital asset marketplace enabling participants to trade Keys tied to professional sports team performance and league standings, built on PandaSea Mainnet. For more information, visit thesportexchange.com.

About PandaSea Inc.

PandaSea Inc. is a Delaware-incorporated technology company building institutional-grade blockchain infrastructure. Its PandaSea Mainnet is a Layer-1 Avalanche Subnet, and PANDA is its native gas token. PandaSea's network protocol directs 0.56% of transaction volume toward open-market PANDA repurchases. For more information, visit pandasea.io.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the proposed direct listing, anticipated timing, market expansion, and platform launch. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including market conditions, regulatory developments, blockchain infrastructure risks, competition, and other factors. The company undertakes no obligation to update these statements except as required by applicable law. This release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any such offer will be made only by means of a prospectus filed with and declared effective by the Securities and Exchange Commission.

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