Key Information Document PURPOSE This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.Product Name of the product Coinshares Ethereum Staking ETP ("ETHE") ISIN GB00BLD4ZM24 PRIIP manufacturer CoinShares Digital Securities Limited ("Issuer") (www.coinshares.com/etps/physical) Phone number Call telephone number +44 1534 513 100 for more information Competent authority of the The Swedish Financial Supervisory Authority (SFSA) is responsible for supervising CoinShares manufacturer of the product Digital Securities Limited, Jersey in relation to this Key Information Document Production date of the KID 30/12/2022 09:30:00 Latest revision of the KID 07/04/2026 09:00:00 (version 243)You are about to purchase a product that is not simple and may be difficult to understand.What is this product? Type This product, collectively referred to as Digital Securities, is a non-interest bearing, secured, undated, limited recoursedebt security that is fully secured by the underlying Compass Crypto Reference Index Ethereum. Digital Securities arelisted on the following stock exchanges: SIX Swiss Exchange (primary listing), Frankfurt Stock Exchange (XETRA) andLondon Stock Exchange; but it may be listed on additional exchanges and Multilateral Trading Facilities.Term Digital Securities do not have a fixed maturity. A Digital Security holder can sell the product on the regulated market onwhich it is listed, or in accordance with (and subject to) the terms of the Prospectus, may redeem the Digital Securitiesdirectly with the Issuer in return for an amount of Compass Crypto Reference Index Ethereum equal to the aggregateCoin Entitlement of the Digital Securities (less relevant fees and costs) or, in certain limited circumstances, for an amountin US dollars equal to the net proceeds of sale of the aggregate Coin Entitlement (less relevant fees and costs). The Issuermay, at any time, determine that all Digital Securities are to be redeemed compulsorily in accordance with (and subject to)the terms of the Prospectus.Objectives This product is designed to offer investors a means of investing in Compass Crypto Reference Index Ethereum withouthaving to acquire Compass Crypto Reference Index Ethereum themselves and to enable investors to buy and sellexposure to Compass Crypto Reference Index Ethereum by trading of a security on a regulated European stockexchange. The Digital Security is backed and secured by Compass Crypto Reference Index Ethereum.Intended retail The product is intended for investors who intend to form and / or optimize assets in general and have an investment investor horizon in line with the recommended holding period stated below.The product is designed for investors with informed knowledge and / or experience with financial products who are ableto bear a total loss of their investment and do not attach any importance to capital protection. What are the risks and what could I get in return?Be aware of currency risk. You will receive payments in a currency thatis different to the product's base currency, the final return you will getRisk Indicatordepends on the exchange rate between the two currencies. This risk isnot considered in the indicator shown above.This product doesn’t include any protection from future market 1 2 3 4 5 67performance so you could lose some or all of your investment.The product invests in the digital asset Compass Crypto Reference Lower Risk Higher Risk Index Ethereum, which is traded on various digital exchanges and isgenerally characterized as presenting high risk, but which also allowsfor the opportunity of high returns. Given the fact that the product The Risk Indicator assumes you keep the product for 1 year. The actual risk can vary significantly if you cash ininvests in one volatile digital asset, the product has a higher risk than at an early stage and you may get back less. other products using the diversification method of investing in abasket of digital assets.The indicator mainly reflects the up and downturns in the value of the The Summary Risk Indicator is a guide to the level of risk of this product product. The product can be expected to have large fluctuations due compared to other products. It shows how likely it is that the product willto the nature of the underlying asset class. lose money because of movements in the markets or because the Issuer is unable to pay you. Please refer to the product's Prospectus Disclosure for details of othermaterially relevant risks that may apply to this product. This product We have classified this product 6 out of 7 which is the second-highest riskdoes not include any protection from future market performance so class. you could lose some or all of your investment. This rates the potential losses from future performance at a high level, and poor market conditions could impact the ability for you to receive a positive return on your investment. 1 Key Information Document Performance Scenarios What you will get from this product depends on future market performance. Market developments in the future are uncertain and cannot be accurately predicted. The unfavourable, moderate, and favourable scenarios shown are illustrations using the worst, average, and best performance of the product/a suitable benchmark and a suitable benchmark over the last 10 years. Markets could develop very differently in the future. Recommended holding period 1 year Example investment: USD 10.000 If you exit after 1 year (recommended holding period) Scenarios Minimum There is no minimum guaranteed return. You could lose some or all of your investment. Stress scenario What you might get back after costsUSD 42 Average return each year -99,6 % Unfavourable scenario What you might get back after costs USD 1.334 Average return each year -86,7 % Moderate scenario What you might get back after costs USD 15.833 Average return each year 58,3 % Favourable scenario What you might get back after costsUSD 1.007.646 Average return each year 9.976,5 %This figure shown include all the costs of the product itself but may not include all the costs that you pay to your advisor. These figures do not take into account your personal tax situation, which may also affect how much you get back. The stress scenario shows what you might get back in extreme market circumstances. Unfavourable scenario: This type of scenario occurred for an investment between February 2018 and February 2019. Moderate scenario: This type of scenario occurred for an investment between November 2023 and November 2024. Favourable scenario: This type of scenario occurred for an investment between January 2017 and January 2018.What happens if CoinShares Digital Securities Limited is unable to pay out? Although the product is secured with Compass Crypto Reference Index Ethereum, investors bear the risk that the Issuer may not be able to fulfil its obligations in relation to the product. For example, in the event of the Issuer’s insolvency. The Issuer has no other business activities except to issue Digital Securities that provide exposure to a single type of underlying digital asset. In the case of default by the Issuer the assets it holds as collateral may be realized to meet its obligations and the cash proceeds will be paid in accordance with a priority order applicable to the product. The cash proceeds may not be sufficient to meet all obligations and make all payments due in respect of the securities. In these circumstances you may not be able to realise the full value of your securities and you will suffer a loss on your investment. A total loss of invested capital is possible. The product is not covered by an investor protection or guarantee scheme.What are the costs? The person selling you or advising you about this product may charge you other costs. If so, this person will provide you with information about these costs, and show you the impact that all costs will have on your investment over time. Costs over time The tables show the amounts that are taken from your investment to cover different types of costs. These amounts depend on how much you invest, how long you hold the product and how well the product does. The amounts shown here are illustrations based on an example investment amount and different investment periods. We have assumed: In the first year you would get back the amount that you invested (0% annual return). USD 10.000 is invested If you exit after 1 year (recommended holding period) Total costs USD 0 Annual cost impact* 0,0% * This illustrates how costs reduce your return each year over the holding period. For example it shows that if you exit at the recommended holding period your average return per year is projected to be 0,0% before costs and 0,0% after costs.2 Key Information Document Composition of Costs One-off costs upon entry or exitIf you exit after 1 year Entry costs* We do not charge an entry fee. -We do not charge an exit fee for this product, but the person Exit costs*-selling you the product may do so. Ongoing costs taken each year If you exit after 1 yearThis figure is the result of the ongoing costs in monetaryunits if the product is held for one year, calculated assuminga net performance of 0%. This is an estimate based on actual Management fees and other administrative orcosts over the last year. The management fee for this USD 0 operating costsproduct is 0,0% per annum (which may be revised at thediscretion of the Issuer, with any such reduction announcedby the Issuer via RNS).0% of the value of your investment per year. This is anestimate of the costs incurred when we buy and sell the Transaction costsUSD 0underlying investments for the product. The actual amountwill vary depending on how much we buy and sell. Incidental costs taken under specific conditionsIf you exit after 1 year Performance fees There is no performance fee for this product.- * Not applicable for secondary market investors. Secondary market investors deal directly with authorised participants or via an exchange and will pay fees charged by their authorised participants or brokers respectively. Please refer to your broker, financial adviser, or distributor for the actual charges.How long should I hold it and can I take my money out early? Recommended Holding Period: 1 year The recommended holding period for this product is 1 year. However, as Compass Crypto Reference Index Ethereum is highly volatile, investors should monitor the value of the product constantly as sudden changes in value will be frequent and abrupt. A Digital Security holder can sell the product on the regulated market on which it is listed, or in accordance with (and subject to) the terms of the Prospectus, may redeem the securities directly with the Issuer in return for an amount of Compass Crypto Reference Index Ethereum equal to the aggregate Coin Entitlement of the Digital Securities (less relevant fees and costs).How can I complain? Any complaint about the sale of the product should be made to your intermediary or distributor. A complaint about any other aspect of this product sold be made to the Issuer via email: physical@coinshares.com Making a complaint will not prejudice your right to take legal action.Other relevant information This document may be updated from time to time. The latest Key Information Document (KID) is available free of charge at www.coinshares.com/etps /physical. The prospectus (a base prospectus as may be supplemented from time to time and completed by final terms) contains important and legal information regarding the product, its risk, the Issuer, and its Guarantor. It is available free of charge at www.coinshares.com/etps/physical. The information contained in this KID does not constitute a recommendation to buy or sell the product and is no substitute for individual consultation with the investor’s bank or advisor. The KID is a pre-contractual document which gives you the main information about the product (characteristics, risks, costs, etc.). 3