A Clarification on EMURGO and Yoroi DRep Voting Policies and the Daedalus Proposal To the Cardano community, We are writing to clarify our position on governance voting regarding wallet infrastructure proposals, and to address our recent votes on the Daedalus Maintenance and Enhancement Proposal. Our Position on Wallet Proposals: EMURGO and Yoroi DReps have implemented an internal policy to abstain from voting on proposals submitted by other wallet providers. Given our own history and active role in the wallet space, abstaining from these proposals is a necessary step to avoid any conflict of interest. We recognize that we have not been sufficiently clear about this policy in the past, and we want to officially clarify this stance moving forward. Yoroi and EMURGO DReps will abstain on all wallet infrastructure proposals as a standing position. The Daedalus Proposal VoteL Regarding the recent Daedalus Maintenance and Enhancement Proposal, the votes recorded by the Yoroi and EMURGO Governance DReps were the result of an operational error on our end and did not reflect the abstention policy outlined above. Had we correctly voted to abstain, all else being equal, the final result for the proposal would have been just over 62%. Remediation and Next Steps: We have been in contact with the Daedalus team to acknowledge our error. As a gesture of accountability, we offered to cover the deposit required for them to resubmit their proposal directly onchain. The team has respectfully declined and we wish them well with their next steps. The offer stands should they change their minds. Our Governance Framework: As a DRep, our responsibility is to review proposals carefully and explain our reasoning publicly. When evaluating governance actions outside of wallet infrastructure, we focus on these core criteria: ▪️ Commercial and Institutional Focus: We look for a clear enterprise application. Proposals should contribute to meaningful, real-world adoption and use cases. ▪️ Core Ecosystem Integration: Priority is given to initiatives that strengthen Cardano's core infrastructure, integrations, and native asset ecosystem. ▪️ Demonstrated Traction: We look for concrete evidence of real usage, development progress, or ecosystem adoption. We are deeply committed to fostering a Cardano ecosystem characterized by genuine wallet choice and healthy competition. We appreciate the community's vigilance and thank you for continuing to hold the process to a high standard.