Proposed transaction with Vine Hill

On 8 September 2025, CoinShares International Limited (“CoinShares”) and Vine Hill Capital Investment Corp., a special purpose acquisition company listed on the Nasdaq Stock Market (“Vine Hill”), and Odysseus Holdings Limited (“Odysseus Holdings”), jointly announced that CoinShares, Vine Hill and Odysseus Holdings have agreed on a joint merger plan including a court-sanctioned scheme of arrangement under Jersey Law between CoinShares and its shareholders (such joint merger plan and the Scheme of Arrangement, together, the “Transaction”), in order to facilitate a change of listing venue for CoinShares ordinary shares from Nasdaq Stockholm to the Nasdaq Stock Market in the United States, or any other public stock market or exchange in the United States as may be agreed between CoinShares and Vine Hill. The total consideration for CoinShares’ shareholders represents a valuation of CoinShares at approximately SEK 11.3 billion or USD 1.2 billion, corresponding to approximately SEK 173.2 per share in CoinShares calculated based on the shares and options outstanding as of 8 September 2025 and representing a premium of approximately 30.6 percent compared to the closing share price of SEK 132.6 in CoinShares on Nasdaq Stockholm on 5 September 2025, which was the last ended trading day prior to the announcement of the Transaction. The consideration of the Transaction consists of ordinary shares in Odysseus Holdings, which will ultimately replace Vine Hill as the listed entity on the Nasdaq Stock Market in the United States and own all the outstanding shares in CoinShares.