Masters Daniel → CoinShares PLC CSHRW

The Reporting Person acquired the Ordinary Shares reported herein in the Business Combination for investment purposes. To the extent required by Item 4, the information contained in Item 3 and Item 6 is incorporated herein by reference. The Reporting Person is the founder of CSIL (through its predecessor, Global Advisors (Jersey) Limited, which he co-founded in 1999) and served as Non-Executive Chairman of the Board of Directors of CSIL and as Chair of the Remuneration Committee from December 2021 until the closing of the Business Combination on March 31, 2026. The Reporting Person serves as a member of the Issuer's Board of Directors and, in such capacity, may have influence over the corporate activities of the Issuer, including activities that may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Subject to the Lock-Up Agreement described in Item 6 of this Schedule 13D and the Issuer's Insider Trading Policy (the "Insider Trading Policy"), the Reporting Person may from time to time buy or sell securities of the Issuer as appropriate for his personal circumstances. Except as described herein, the Reporting Person does not have any present plans or proposals that relate to or would result in any of the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Person reserves the right to formulate in the future plans or proposals that may relate to or result in the transactions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Person may, from time to time, purchase additional securities of the Issuer either in the open market or in privately negotiated transactions, depending upon the Reporting Person's evaluation of the Issuer's business, prospects and financial condition, the market for such securities, other opportunities available to the Reporting Person, general economic conditions, stock market conditions and other factors. Depending upon the factors noted above, the Reporting Person may also decide to hold or dispose of all or part of his investments in securities of the Issuer and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities, subject to the limitations under the Lock-Up Agreement, the Insider Trading Policy and applicable securities law.