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MESSAGE _ENGLISH VERSION_
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Information on the status of Core Foundation's obligation to top up the
value of the CORE token package
The Management Board of BTCS S.A. _the "Company"_, further to current
report No. 1/2026 regarding the Transition Services Agreement concluded
with Core Foundation _the "Agreement"_, hereby informs about the status
of Core Foundation's obligation to maintain the value of the CORE token
package held by the Company.
Under the Agreement, Core Foundation undertook to maintain the value of
the CORE tokens held by the Company at no less than USD 2,550,000, by
way of monthly top-ups payable whenever the value of the package,
measured as of the last day of a calendar month _measurement date_,
falls below that threshold.
The top-ups due for January and February 2026 were performed on time.
The top-up due for March 2026 was performed in part - Core Foundation
delivered 30,558,800 CORE tokens out of the required 61,117,604.55 CORE
tokens. The top-ups due for the subsequent monthly measurement dates _30
April 2026 through 31 July 2026_ have not been performed to date. As at
the date of this report, Core Foundation remains in delay with the
performance of the above obligation. The delay does not affect the
Company's current operations or the balance-sheet valuation of the CORE
tokens, which are measured at fair value based on market quotations.
As a consequence of the significant decline in the CORE token price,
reflecting reduced liquidity and the broader repricing of the altcoin
market, the value of the Company's package of 66,416,440.29 CORE tokens
amounted to PLN 6,286,122.15 _approx. USD 1.67 million_ as at 30 June
2026 and to approx. PLN 4.3 million _approx. USD 1.1 million_ as at the
date of this report, against the contractual threshold of USD 2,550,000.
The Company is engaged in an active dialogue with Core Foundation aimed
at resolving the situation and is taking steps to protect its interests,
including a review of its contractual rights. Core Foundation is a
shareholder of the Company holding 15.70% of the share capital and of
the total number of votes.
The Company's claim against Core Foundation in respect of the
unperformed top-ups remains in force. The Company will report on
material developments in this matter by way of appropriate reports.
Legal basis: Art. 17_1_ MAR - inside information
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RB_ASO: Informacja o stanie wykonania przez Core Foundation zobowiązania do uzupełniania wartości
pakietu tokenów CORE
