Investment Programme

Investor access

For professional and institutional investors only

The information on these pages concerns the 10.25% Senior Secured Medium-Term Notes of VSJ Ventures LTD, International Securities Identification Number (ISIN) CH1329443308. It is intended only for professional clients within the meaning of the Swiss Federal Act on Financial Services, qualified investors within the meaning of the EU Prospectus Regulation, and institutional or accredited investors in other countries where they may lawfully receive it. It is not intended for retail investors or for persons in the United States.

Country of residence or incorporation

Investor category

Professional client (Switzerland) Qualified investor (European Economic Area) Institutional or accredited investor (other countries) None of the above

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Selling restrictions

United States. The Notes have not been registered under the United States Securities Act of 1933, as amended, or under any state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons within the meaning of Regulation S, except under registration or an applicable exemption. This information is not directed at the United States, and nothing on this website is intended to constitute directed selling efforts in the United States.

United Kingdom. This information is directed only at persons outside the United Kingdom and must not be acted upon by persons in the United Kingdom.

Canada. This information is not directed to persons resident in Canada, and the Company does not, through this website, solicit subscriptions for the Notes from persons resident in Canada.

Investment Programme

10.25% Senior Secured Medium-Term Notes due 2029

Fixed coupon of 10.25% per annum, paid annually, with principal due in full at maturity on 15 February 2029. A barbell allocation: long-dated senior life settlement policies from US carriers rated A or higher by A.M. Best anchor principal, while short-duration SME loan-backed and trade receivables-backed notes, secured by hard collateral, generate the income that services the coupon.

Coupon

10.25%

Maturity

15 Feb 2029

Rating

A-

Programme

USD 250M

Ranking

Senior Secured

Restricted securities information: eligible investors only. This material is a marketing communication where so characterised by applicable law. It is not an offer to any person in a jurisdiction where such an offer would be unlawful. Investment in the Notes involves risk, including possible loss of principal. The definitive offering documents govern.

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What institutions examine

Senior and secured

The Notes are secured by a general security interest over VSJ Ventures LTD's present and future assets. The security applies across the asset pool and is not limited to any individual asset class.

Rated

Egan-Jones Ratings Company has assigned A- to the Notes and the Issuer, first on 11 January 2024, confirmed in 2024, 2025 and March 2026. A rating may change and is not a guarantee of payment.

Listed and settled internationally

The Notes are included for trading on the Vienna MTF and the Open Markets of the Frankfurt and Stuttgart Stock Exchanges, and settle through SIX SIS AG, Clearstream and Euroclear. Admission to trading does not guarantee market liquidity, continuous quotations or the availability of a purchaser, and investors may be unable to sell their Notes when they wish or at the price they expect.

Covenanted coverage

Asset coverage carries a target of 1.50x and is tested and reported on every interest payment date.

Principally longevity-driven

Returns from life settlement assets are principally influenced by insured longevity, premium obligations, insurer performance and policy-specific factors. Their economic value may also be affected by interest rates, liquidity conditions and other financial-market developments.

Transparent

Every projection can be reproduced from the Programme Model and its code.

Key terms

Issuer: VSJ Ventures LTD
International Securities Identification Number (ISIN): CH1329443308
Programme size: USD 250,000,000
Coupon: 10.25% a year, paid annually on 15 February
Maturity: 15 February 2029
Ranking: Senior Secured
Denomination: USD 10,000
Minimum subscription: USD 100,000
Rating: A-, Egan-Jones Ratings Company
Listings: Frankfurt and Stuttgart Open Markets; Vienna Multilateral Trading Facility (MTF)
Settlement: SIX SIS AG, Clearstream, Euroclear; delivery versus payment
Governing law: Ontario, Canada (Issuer); Swiss law (settlement, transfer and payment)

Institutional infrastructure

Principal Paying Agent: European Depositary Bank SA
Central securities depository: SIX SIS AG
International depositories: Clearstream Banking S.A.; Euroclear Bank SA/NV
Rating agency: Egan-Jones Ratings Company

Documents

Available to eligible investors on request. Each request is reviewed by the Company before any document is sent, and we may ask for evidence of eligibility. Documents are provided under confidentiality and may not be forwarded.

Document	Select
EMTN Information SheetOctober 2026
Bond Information SheetOctober 2026
Investment MemorandumOctober 2026
Director's Statement14 October 2026