Investment Anticipated to Provide Acacia with Attractive Risk-Adjusted Returns through Investment in Bitcoin Collateralized, Fully Recourse, Commercial Loans

Partnership Aligns with Acacia’s Unwavering Focus on Generating Value for Shareholders

Acacia Research Corporation (Nasdaq: ACTG) (“Acacia”), which acquires and operates businesses across the industrial, energy and technology sectors, today announced it has partnered with Unchained Capital, a leader in financial services tailored for Bitcoin holders (“Unchained”), and Build Asset Management, an investment adviser focused on the Bitcoin space (“Build”), to purchase commercial whole loans collateralized by Bitcoin (the “Loans”). The Loans will be originated by an affiliate of Unchained and will be sold to a wholly owned subsidiary of Acacia. Build will provide administrative and other services to Acacia in connection with its purchase and holding of the Loans.

Martin (“MJ”) D. McNulty, Jr., Chief Executive Officer, stated, “We are very excited to partner with Unchained and Build for this Bitcoin-backed loan strategy. Investors around the world are increasingly looking to capitalize on the value Bitcoin provides as a secure source of quality collateral. We believe the loans will provide attractive risk-adjusted returns given their healthy interest rates, low loan-to-value metrics, and the protection and innovation in the institutional custody solutions for the Bitcoin backing these fully recourse loans. This partnership allows us to participate in the Bitcoin ecosystem in a way that enables holders dollar liquidity while maintaining their Bitcoin ownership. Our team constantly explores creative ways to generate value for shareholders, and we believe this partnership will do exactly that.”

About the Company

Acacia (Nasdaq: ACTG) is a publicly traded company that is focused on acquiring and operating attractive businesses across the industrial, energy and technology sectors where it believes it can leverage its expertise, significant capital base, and deep industry relationships to drive value. Acacia evaluates opportunities based on the attractiveness of the underlying cash flows, without regard to a specific investment horizon. Acacia operates its businesses based on three key principles of people, process and performance and has built a management team with demonstrated expertise in research, transactions and execution, and operations and management. Additional information about Acacia and its subsidiaries is available at www.acaciaresearch.com.

About Build Asset Management

Build Asset Management is an investment advisor registered with the U.S. Securities and Exchange Commission. Registration of an investment advisor does not imply any skill or training. Build Asset Management does not provide legal or tax advice. Please consult a legal or tax professional for specific advice. Build was founded in 2018 with the mission of providing better options for investors in fixed income and credit under a changing market environment. It launched a Bitcoin-focused private credit fund in partnership with Unchained Inc. (based in Austin, Texas) in July 2023 that invests in commercial loans made to small- and medium-sized U.S. businesses.

About Unchained

Founded in 2016, Unchained Capital is a leading Bitcoin financial services platform that has secured over $12 billion in Bitcoin assets and originated $1 billion in loans with zero rehypothecation. The Austin-based company pioneered collaborative custody, enabling Bitcoin holders to access lending and financial services while maintaining control of their private keys—eliminating the counterparty risk that has plagued the digital asset industry. For more information, visit www.unchained.com.

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