An update on our TermMax Private Credit Vault The TermMax token launched later than planned, and Termmax renegotiated the yield terms in order to get listed on major exchanges. How your yield is now made up: • Native yield: the actual on-chain yield your deposit earned in TermMax vaults. This portion is already claimed when you redeemed your deposits after the 4 months lock up period in 2025. • Airdrop: the TMX airdrop we received, valued at a $60M FDV Top-up schedule, from the token launch: • 50% after 1 month • 12.5% each week for the next 4 weeks The $60M FDV is only used to count tokens. It is not the TMX market price. The TMX received are sent to Kucoin to sell into USDT via their TMX/USDT spot market. Everything goes to depositors pro rata, based on the 25 Sep 2025 snapshot. The airdrop distribution goes out later this week. This took much longer than we planned. We are sorry for the wait. The most important part: no depositor lost money. After the 4-month lock, every depositor could withdraw their full deposit plus yield, in a down market. We will never DM you or ask you to connect a wallet to claim. Ignore anyone who does.