Coinsquare Capital Markets Ltd. (“Coinsquare”) is offering crypto contracts to purchase and sell Decentraland (MANA) in reliance on a prospectus exemption granted by the Canadian Securities Administrators (CSA) in the amended and restated exemptive relief decision dated October 11, 2024. The statutory rights of action for damages and the right of rescission in section 130.1 of the Securities Act (Ontario) and similar legislation in the other CSA jurisdictions do not apply in respect of a misrepresentation in this statement to the extent that a crypto contract is distributed under the above-noted prospectus relief.

No securities regulatory authority in Canada or any other jurisdiction has expressed an opinion about any of the crypto assets (or crypto contracts) that are available through Coinsquare Capital Markets Ltd (CCML)’s platform, including an opinion that the crypto assets are not themselves securities and/or derivatives.

Coinsquare Capital Markets Ltd (CCML) has compiled the information contained in this Crypto Asset Statement to the best of its ability based on publicly available information.

Decentraland is a virtual reality platform that is entirely owned and operated by its users. MANA is the ERC-20 type token that is used as the native currency of the system to buy LAND (which is a non-fungible token that represents a piece of the virtual map). Users can also buy and sell estates, avatar wearables and names in the Decentraland Marketplace. The Decentraland Foundation, the organization behind the development of the Decentraland software, was founded by Esteban Ordano and Ariel Meilich in 2015. Today, the platform is governed by the Decentraland DAO, allowing land owners and users to vote on protocol updates and treasury decisions while using the virtual world for digital commerce, social events, and brand experiences. The organization’s 2026 roadmap includes a major shift toward accessibility with the Q1 2026 launch of the Mobile Client Beta, alongside rendering engine upgrades intended to enhance visual quality and performance.

As with all assets, investing in Decentraland is not without some general risks. Many of these risks are identified and explained in our Risk Statement. In addition to the general risks, we outline some risks that are specific to Decentraland below. While we make an effort to identify every source of risk, we encourage you to do your own research and ensure you are comfortable investing in Decentraland.

While MANA originated as an ERC-20 token on the Ethereum Mainnet, it has since expanded to several other networks to facilitate lower transaction costs and higher scalability, most notably via the Polygon network for its marketplace and wearables. It is also available across other systems such as the Solana, DAI, and Fusion networks. Consequently, the token's integrity and supply distribution are linked to the security and operational stability of these multiple interconnected blockchain environments. Any fundamental issues in any of these networks could impact MANA’s market sentiment, market cap, and token price.

Decentraland’s token price saw significant gains in the second half of 2021 as hype for metaverse grew, backed by Facebook’s rebranding as Meta. While high-profile speculative interest from late 2021 has moderated, more recent data indicates a steady core of participants, with monthly logged-in users exceeding 56,000 and independent analytics showing roughly 8,000 to 10,000 daily active users as of early 2026. Nevertheless, these figures remain significantly lower than mainstream gaming platforms like Roblox, which commands over 70 million daily active users, or Fortnite, which maintains over 30 million. Investors should monitor these adoption metrics closely, as sustained growth is critical for long-term platform viability and MANA’s market valuation. Investors should consider Decentraland’s daily active users and general sentiment towards metaverse gaming, as dwindling interest could negatively impact Decentraland’s market capitalization and MANA’s token price.

A previous study of metaverse land ownership highlighted that approximately 49.8% of Decentraland’s LAND NFTs were held by just 0.5% of the total owner population. While the platform has matured and the community has expanded, significant concentration among a small number of large entities may still pose risks to true decentralization and community-led development. Investors should evaluate this distribution of ownership and consider its potential impact on user adoption, market sentiment, and the overall stability of virtual land values. Investors should consider this distribution of LAND ownership and make their own conclusions about how this may affect user adoption, market sentiment, market capitalization and token price.