As announced on 30 December 2022, the Board of Directors of CoinShares International Limited (“CoinShares” or the “Company“) (Nasdaq Stockholm Market: CS; US OTCQX: CNSRF), Europe’s largest and leading digital asset investment and trading group, resolved to implement a share buy-back program and repurchase shares on Nasdaq Stockholm Market during the period 3 January 2023, up to and including 3 April 2023 for total maximum amount of SEK 25 million in accordance with the authorisation from the Annual General Meeting on 20 June 2022.

The Board of Directors’ resolution to implement the share buy-back program was made after the Board’s review of the Company’s capital structure and was implemented for the purposes of reducing the capital of the Company.

The share buy-back program is carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”).

The Company today announces that share buy-backs of shares in the Company (ISIN: JE00BLD8Y945) have been effected as set forth below (aggregated level):

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Date	Number of shares acquired	Lowest price paid (SEK)	Highest price paid (SEK) Advertisement	Volume weighted average (SEK)
27 January 2023	2,401	30.80 Advertisement	31.20	31.13
30 January 2023	2,720	30.15 Advertisement	32.15	31.68
31 January 2023	2,695	31.05 Advertisement	32.35	31.77
01 February 2023	2,352	31.25 Advertisement	32.75	31.90
02 February 2023	2,720	32.80 Advertisement	33.00	32.97
	12,888

All share buy-backs have been carried out on Nasdaq Stockholm Market by the Company. Following the above repurchases, the Company’s holding of own shares as of 3 February 2023 amounts to 234,983 shares. The total number of shares in CoinShares amounts to 68,135,425.

For a full break-down of repurchases made, please refer to the attached announcement.

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