Grayscale Sui Staking ETF

Previous wording

Financial Highlights for the Three Months Ended March 31, 2026 and 2025

Current wording

Financial Highlights for the Three and Six Months Ended June 30, 2026 and 2025

Previous wording

Net assets is calculated in accordance with U.S. GAAP based on the Digital Asset Market price of SUI on the Digital Asset Trading Platform that the Trust considered its principal market, as of 4:00 p.m., New York time, on the valuation date.

Current wording

Net assets in the above table and subsequent paragraphs are calculated in accordance with U.S. GAAP based on the Digital Asset Market price of SUI on the Digital Asset Trading Platform that the Trust considered its principal market, as of 4:00 p.m., New York time, on the valuation date.

Previous wording

Net realized and unrealized loss on investment in SUI for the three months ended March 31, 2026 was ($3,644), which includes a realized loss of ($7) on the transfer of SUI to pay the Sponsor’s Fee, a realized loss of ($1) on the transfer of SUI to pay the Sponsor’s Staking Fee and net change in unrealized appreciation/depreciation on investment in SUI of ($3,636). Net realized and unrealized loss on investment in SUI for the period was driven by SUI price depreciation from $1.40 per SUI as of December 31, 2025, to $0.88 per SUI as of March 31, 2026. Net decrease in net assets resulting from operations was ($3,623) for the three months ended March 31, 2026, which consisted of the net realized and unrealized loss on investment in SUI, and the net investment income of $21. Net assets increased to $30,401 at March 31, 2026, a 607% increase for the three-month period. The increase in net assets resulted from the contribution of approximately 31,559,639 SUI with a value of $29,723 to the trust in connection with Share creations during the period and the contribution of approximately 45,804 SUI with a value of $44 to the Trust in connection with Staking Rewards, partially offset by the aforementioned SUI price depreciation, the withdrawal of approximately 10,118 SUI to pay the foregoing Sponsor’s Fee, the withdrawal of approximately 8,864 SUI to pay the foregoing Sponsor’s Staking Fee and the payable of 1 SUI for the Sponsor’s Staking Fee.

Current wording

Net realized and unrealized loss on investment in SUI for the three months ended June 30, 2026 was ($4,620), which includes a realized loss of ($3) on the transfer of SUI to pay the Sponsor’s Fee, a realized loss of ($5) on the transfer of SUI to pay the Sponsor’s Staking Fee, a realized loss of ($727) on the transfer of SUI to pay Redemptions and net change in unrealized appreciation/depreciation on investment in SUI of ($3,885). Net realized and unrealized loss on investment in SUI for the period was driven by SUI price depreciation from $0.88 per SUI as of March 31, 2026, to $0.70 per SUI as of June 30, 2026. Net decrease in net assets resulting from operations was ($4,543) for the three months ended June 30, 2026, which consisted of the net realized and unrealized loss on investment in SUI, and the net investment income of $77. Net assets decreased to $21,038 at June 30, 2026, a 31% decrease for the three-month period. The decrease in net assets resulted from the aforementioned SUI price depreciation, the redemption of approximately 8,540,330 SUI with a value of $8,587 from the Trust, the withdrawal of approximately 12,462 SUI to pay the foregoing Sponsor’s Fee, the withdrawal of approximately 25,521 SUI to pay the foregoing Sponsor’s Staking Fee, and the payable of approximately 253 SUI for the Sponsor’s Staking Fee, partially offset by the contribution of approximately 4,053,733 SUI with a value of $3,767 to the trust in connection with Share creations during the period and the contribution of approximately 122,870 SUI with a value of $111 to the Trust in connection with Staking Rewards.

Previous wording

Net realized and unrealized loss on investment in SUI for the three months ended March 31, 2025 was ($5,867), which includes a realized gain of $16 on the transfer of SUI to pay the Sponsor’s Fee and net change in unrealized appreciation/depreciation on investment in SUI of ($5,883). Net realized and unrealized loss on investment in SUI for the period was driven by SUI price depreciation from $4.17 per SUI as of December 31, 2024, to $2.27 per SUI as of March 31, 2025. Net decrease in net assets resulting from operations was ($5,932) for the three months ended March 31, 2025, which consisted of the net realized and unrealized loss on investment in SUI, plus the Sponsor’s Fee of $65. Net assets decreased to $7,053 at March 31, 2025, a 44% decrease for the three-month period. The decrease in net assets resulted from the aforementioned SUI price depreciation and the withdrawal of approximately 18,987 SUI to pay the foregoing Sponsor’s Fee, partially offset by the contribution of approximately 96,266 SUI with a value of $350 to the Trust in connection with Share creations during the period.

Current wording

Net realized and unrealized loss on investment in SUI for the six months ended June 30, 2025 was ($4,157), which includes a realized gain of $26 on the transfer of SUI to pay the Sponsor’s Fee and net change in unrealized appreciation/depreciation on investment in SUI of ($4,183). Net realized and unrealized loss on investment in SUI for the period was driven by SUI price depreciation from $4.17 per SUI as of December 31, 2024, to $2.82 per SUI as of June 30, 2025. Net decrease in net assets resulting from operations was $4,282 for the six months ended June 30, 2025, which consisted of the net realized and unrealized loss on investment in SUI, plus the

Previous wording

The Sponsor, from time to time, may temporarily waive all or a portion of the Sponsor’s Fee of the Trust in its discretion for stated periods of time. Effective February 18, 2026, the Sponsor has determined to waive a portion of the Sponsor’s Fee until the earlier of (x) May 18, 2026 and (y) the first date on which the NAV of the Trust exceeds $1.0 billion (such period, the “Fee Waiver Period”). If the Trust’s NAV exceeds $1.0 billion prior to May 18, 2026, the Sponsor’s Fee charged on assets over $1.0 billion will be 0.35%. After the Fee Waiver Period is over, the Sponsor’s Fee will be 0.35%. From February 18, 2026 to March 31, 2026, the Trust’s assets did not exceed $1.0 billion and no Sponsor’s Fee had been incurred.

Current wording

The Sponsor, from time to time, may temporarily waive all or a portion of the Sponsor’s Fee of the Trust in its discretion for stated periods of time. Effective February 18, 2026, the Sponsor determined to waive a portion of the Sponsor’s Fee until the earlier of (x) May 18, 2026 and (y) the first date on which the NAV of the Trust exceeds $1.0 billion (such period, the “Fee Waiver Period”). Following the expiration date of the three-month waiver period on May 18, 2026 (the “Sponsor’s Fee Waiver Expiration Date”), the Sponsor’s Fee is 0.35%.

Previous wording

The Trust’s NAV and NAV per Share are derived from the Index Price as represented by the Index as of 4:00 p.m., New York time, on the valuation date. The Trust’s NAV per Share is calculated using a non-GAAP methodology where the price is derived from multiple Digital Asset Trading Platforms. The Digital Asset Trading Platforms included in the Index (the “Constituent Trading Platforms”) as of March 31, 2026 were Binance, Bitstamp by Robinhood, Bullish, Bybit, Crypto.com, GATE, Hashkey, Kraken, and OKX. The Digital Asset Trading Platforms included in the Index as of March 31, 2025 were Coinbase, Kraken, and Crypto.com. See “Item 1. Business—Overview of the Sui Industry and Market—SUI Value—The Index and the Index Price” in our Annual Report for a description of the Index and the Index Price.

Current wording

The Trust’s NAV and NAV per Share are derived from the Index Price as represented by the Index as of 4:00 p.m., New York time, on the valuation date. The Trust’s NAV per Share is calculated using a non-GAAP methodology where the price is derived from multiple Digital Asset Trading Platforms. The Digital Asset Trading Platforms included in the Index (the “Constituent Trading Platforms”) as of June 30, 2026 were Binance, Bitstamp by Robinhood, Bullish, Bybit, Crypto.com, Gate, Gemini, HashKey, Kraken, and OKX. The Digital Asset Trading Platforms included in the Index as of June 30, 2025 were Coinbase, Kraken, and Crypto.com. See “Item 1. Business—Overview of the Sui Industry and Market—SUI Value—The Index and the Index Price” in our Annual Report for a description of the Index and the Index Price.

Previous wording

The Trust’s performance prior to February 18, 2026 is based on market-determined prices on the OTCQB marketplace and on the Trust’s performance without an ongoing share creation and redemption program. Prior to February 18, 2026, the Trust’s Shares traded at both premiums and discounts to the value of the Trust’s assets, less its expenses and other liabilities, which at times were substantial, in part due to the lack of an ongoing redemption program. Effective as of February 18, 2026, the Trust established an ongoing share creation and redemption program and the Shares of the Trust were listed to NYSE Arca. Hence, the Trust’s performance for periods prior to February 18, 2026 is not directly comparable to, and should not be used to make conclusions in conjunction with, the Trust’s performance for periods subsequent to February 18, 2026.

Current wording

The Trust’s performance prior to February 18, 2026 is based on market-determined prices on OTC Markets and on the Trust’s performance without an ongoing share creation and redemption program. Prior to February 18, 2026, the Trust’s Shares traded at both premiums and discounts to the value of the Trust’s assets, less its expenses and other liabilities, which at times were substantial, in part due to the lack of an ongoing redemption program. Effective as of February 18, 2026, the Trust established an ongoing share creation and redemption program and the Shares of the Trust were listed to NYSE Arca. Hence, the Trust’s performance for periods prior to February 18, 2026 is not directly comparable to, and should not be used to make conclusions in conjunction with, the Trust’s performance for periods subsequent to February 18, 2026.

Previous wording

The following chart sets out the historical premium and discount for the Shares calculated as a percentage of the historical closing prices for the Shares as reported by OTCQB divided by the Trust’s NAV per Share from November 24, 2025 to February 17, 2026.

Current wording

The following chart sets out the historical premium and discount for the Shares calculated as a percentage of the historical closing prices for the Shares as reported by OTC Markets divided by the Trust’s NAV per Share from November 24, 2025 to February 17, 2026.