Update on Sipiem Funds Recovery

Quantum Blockchain Technologies plc (AIM: QBT), the AIM-listed investment company, provides an update on the recovery actions relating to the Sipiem litigation. Pursuant to a judgment issued by the Venice, Italy Court of Appeal on 10 June 2024, the Company via its wholly owned subsidiary Clear Leisure 2017 (“CL2017”) was awarded damages in excess of €6 million plus interest and additional compensation for inflationary loss over time (the “Awarded Amount”).

Since then, the Company has been seeking to recover the Awarded Amount,

which to date has resulted in:

€700,000 received in June 2024 from members of the Sipiem statutory audit committee as co-liable parties;

€34,500 recovered during 2025 from a series of small collections from the main Sipiem defendants’ bank accounts;

€9,000 recently collected from

defendants as a refund of legal expenses.

The main defendant remains fully liable for the Awarded Amount, reduced by the amounts already collected as set forth above.

Further recovery actions are taking place regarding the two real estate assets already confiscated pursuant to a confiscation request filed by CL2017 (as announced on 17 December 2025). A third property asset which has been identified by CL2017 and for which a confiscation request has been filed, is

being opposed by the defendants. This matter is currently awaiting a court ruling.

The Company now wishes to inform shareholders that the Court of Biella, Italy has ordered the judicial auction of one of the two real estate assets on 6 May 2026. The property will be offered at auction with a starting price of €287,157 (which price reflects a 25% reduction from the surveyor assessment, as required by the Italian Civil Code).

The Company will duly notify shareholders of the results of the auction sale and of the auction date for the other real estate asset as well as the outcome of the eventual disposition of the main defendant’s previously confiscated artworks, once these sales are ordered by the Court of Biella.

Furthermore, the Company announces that it has reached a settlement agreement with the insurance company, which had provided certain of the defendants with professional indemnity insurance,

for an amount of €37,000 as reimbursement of legal expenses.

As announced on 17 December 2025, these other defendants remain liable for approximately €500,000, against whom the Company has initiated other recovery actions.

Francesco Gardin, CEO and Executive Chairman of QBT, commented:

“CL2017 remains resolute in its determination to recover the damages awarded and will continue its efforts without hesitation. Such efforts will persist until the judgment is fully and finally satisfied. All recovery actions available under Italian Civil Law have been and will continue to be pursued by CL2017 for as long as required.”