CoinShares XBT Provider AB

CoinShares XBT Provider Digital Securities - Notice of Compulsory Redemption (English)

From: CoinShares XBT Provider AB (publ) (the “Issuer”)
Artillerigatan 6,
114 51 Stockholm,
Sweden

To:         The Security Holders (as defined below)

Cc:         The Law Debenture Trust Corporation p.l.c. (the “Trustee”)
        8^th Floor
        100 Bishopsgate
        London EC2N 4AG
        Attention: the Manager, Commercial Trusts (TC:205928)
        

22 September 2026

IMPORTANT NOTICE TO SECURITY HOLDERS

Re: Compulsory Redemption of Digital Securities issued under the Digital Securities programme of the Issuer

We refer to the base prospectus dated 12 March 2026, relating to the Issuer’s Exchange Traded Products Programme for the issuance of Digital Securities (the “Programme”). We also refer to the trust instrument between the Issuer and the Trustee dated 25 April 2025 as amended and supplemented by the supplemental trust instrument dated 12 March 2026 (the “Trust Instrument”). Capitalised terms used and not defined herein shall have the meanings given to them in the Trust Instrument.

1. Redemption of relevant Digital Securities

In accordance with Condition 10.1(a) (Compulsory Redemption on Termination) of the Digital Securities, the Issuer hereby gives Security Holders not less than 30 days’ notice that it has determined that all Digital Securities issued under the Programme are to be Redeemed compulsorily (the “Redemption”). The relevant Digital Securities are listed in the table below. As used herein, “Security Holders” means the holders of such Digital Securities.

For the avoidance of doubt, nothing in this notice shall affect the Single Digital Currency Tracker Certificates or Basket Certificates (namely, CoinShares XBT Bitcoin Tracker One (ISIN: SE0007126024), CoinShares XBT Bitcoin Tracker Euro (ISIN: SE0007525332), CoinShares XBT Ether Tracker One (ISIN: SE0010296574) and CoinShares XBT Ether Tracker Euro (ISIN: SE0010296582)), issued by the Issuer pursuant to the base prospectus dated 17 September 2026, as guaranteed by CoinShares Capital Markets (Jersey) Limited.

1. Rationale for the Redemption

The Programme was launched in April 2025 as a Nordic counterpart to the wider European physically-backed exchange-traded product platform operated by the CoinShares group of companies, of which the Issuer is a member (the "Group"). The Programme was constructed deliberately around the same underlying assets and the same physically backed methodology, listed on Nasdaq Stockholm and denominated in Swedish krona, for Nordic investors who prefer to trade in their home currency on their home exchange and with a local issuer.

The Group has since decided to concentrate its altcoin and staking exposure on a single platform and will continue exploring the most efficient ways to offer altcoin and staking exposures to Nordic investors going forward. Following that decision, the Issuer has determined that it is appropriate to redeem all outstanding Digital Securities issued under the Programme and to terminate the Programme accordingly.

1. Compulsory Redemption Date

The Issuer hereby designates 9 November 2026 as the Compulsory Redemption Date in respect of the Redemption of all of the Digital Securities under the Programme.

1. Redemption election

The Issuer reminds Security Holders that Redemption pursuant to Condition 10.1 in respect of any Digital Security will be effected by Cash Settlement in accordance with Condition 10.8 (Payments of Cash on Compulsory Redemption) unless the Security Holder in respect of the Digital Security has, no later than 26 October 2026 (being ten Issuer Business Days prior to the Compulsory Redemption Date), delivered to the Issuer a valid Redemption Notice specifying Physical Delivery and effected an Acceptable Delivery in respect of the Digital Securities to be Redeemed. Where Redemption pursuant to Condition 10.1 in respect of any Digital Security is to be effected by Physical Delivery, Condition 10.7 (Delivery of Digital Currency on Compulsory Redemption) will apply. Redemption Notices specifying Physical Delivery should be sent to ir@xbtprovider.com.

1. Redemption procedure

Subject to the above, settlement of the Issuer’s Redemption Obligations on Redemption pursuant to Condition 10.1 shall be effected on the Compulsory Redemption Date or such later date as soon thereafter as reasonably practicable and in any event by 30 November 2026 (being the fifteenth Issuer Business Day after the Compulsory Redemption Date). The Compulsory Redemption Date or the aforementioned later date is referred to herein as the “Compulsory Redemption Settlement Date”.

Where the Redemption is being effected by Cash Settlement:

(i)     The Issuer will, in accordance with Condition 10.8 (Payments of Cash on Compulsory Redemption), transfer the aggregate Redemption Amount with respect to the Digital Securities in the Settlement Currency (being Swedish Krona) on the Compulsory Redemption Settlement Date, or, if such date is not a Clearing System Business Day, on the immediately following Clearing System Business Day, to the relevant Security Holder in accordance with Condition 29 (Payment Provisions).


(ii)     The Redemption Amount will be an amount in the Settlement Currency equal to the net proceeds of sale (and conversion into the Settlement Currency if not sold for cash in the Settlement Currency) of the aggregate Coin Entitlement in Digital Currency of the relevant Underlying Type of such Digital Securities rounded down to the Delivery Precision Level of such Digital Securities as at the date on which settlement of such sale was completed less the Redemption Fee and any other Redemption Deductions.


(iii)     The Redemption Fee in relation to the Redemption shall be nil. Redemption Deductions include the costs, charges and/or fees incurred by the Issuer in connection with the Redemption, as more fully set out in the definition thereof in the Conditions.

Where the Redemption is being effected by Physical Delivery:

(i)     The Issuer will, in accordance with Condition 10.7 (Delivery of Digital Currency on Compulsory Redemption), instruct the Custodian to transfer Digital Currency of the Underlying Type attributable to or forming part of the Secured Property in respect of such Digital Securities, in an amount (rounded down to the Delivery Precision Level) equal to the Redemption Amount, calculated as at the Compulsory Redemption Settlement Date, to the relevant Security Holder Account. Such Digital Currency will be delivered to such account on the Compulsory Redemption Settlement Date.


(ii)     The Redemption Amount will be the aggregate Coin Entitlement in Digital Currency of the relevant Underlying Type of such Digital Securities as at the Settlement Date rounded down to the Delivery Precision Level less an amount of such Digital Currency having a value equal (in the opinion of the Determination Agent) to the Redemption Fee and any other Redemption Deductions rounded up to the Delivery Precision Level.


(iii)     The Redemption Fee in relation to the Redemption shall be nil. Redemption Deductions include the costs, charges and/or fees incurred by the Issuer in connection with the Redemption as more fully set out in the definition thereof in the Conditions and which will include, without limitation, any costs incurred by the Issuer, the Custodian(s), the Coin Sales Agent or any other of the Issuer’s agents as part of a sale or purchase of Digital Currency. In this context, a Physical Delivery Fee of one (1) per cent. of the applicable Coin Entitlement will be charged under limb (a) of the definition of Redemption Deductions.

The provisions and procedures described above are qualified entirely by, and subject to, the more detailed terms and definitions set out in the Conditions relating to the Digital Securities.

1. Other

This notice of Compulsory Redemption is governed by English law and is given by CoinShares XBT Provider AB (publ) as Issuer. The Issuer approved the Redemption of Digital Securities by resolutions dated 25 August 2026.

For further information, please contact: ir@xbtprovider.com.

CoinShares XBT Provider AB (publ)

DISCLAIMER: This notice of Compulsory Redemption contains important information which should be read carefully. If any Security Holder is in any doubt as to the action it should take, it is recommended to seek their own financial and legal advice.

Nothing in this notice of Compulsory Redemption constitutes or contemplates an offer of, an offer to purchase or the solicitation of an offer to sell any security in any jurisdiction and participation by a Security Holder in any circumstances in which such participation is unlawful will not be accepted.

The distribution of this notice of Compulsory Redemption in certain jurisdictions may be restricted by law. Persons into whose possession this notice of Compulsory Redemption comes are required by the Issuer to inform themselves about, and to observe, any such restrictions.