23 March 2026

Vault Ventures PLC

("Vault" or the "Company")

Vault Ventures PLC Appoints Former NatWest Executive Gordon Merrylees to Strengthen UK Banking Deployment of Post-Quantum Strategy

Vault Ventures PLC ("Vault" or the "Company") is pleased to announce the appointment of Gordon Merrylees as Strategic Adviser, leading innovation and business development.

The appointment reflects Vault's focus on institutional deployment within UK banking, where post-quantum security adoption is expected to emerge first among regulated sectors.

Gordon is a former senior executive at RBS and NatWest, where over a 36-year career, he held various leadership roles across entrepreneurship, commercial and institutional banking. Operating at board and executive level within one of the UK's largest financial institutions, he was directly involved in supporting countless entrepreneurs, early-stage start-up and high-growth SMEs, technology, innovation, risk and governance decision-making within highly regulated environments.

As quantum capability advances, financial institutions face increasing scrutiny around long-term cryptographic resilience and data protection. Banks are widely expected to be among the earliest adopters of post-quantum standards as regulatory and risk frameworks evolve.

Vault's strategy is centred on post-quantum encryption and long-duration security infrastructure designed for institutional deployment. Successful execution in this market requires credibility within banking procurement, alignment with enterprise risk frameworks and a clear understanding of how large institutions assess and prioritise systemic technology change.

In his advisory capacity, Gordon will support the Board in refining Vault's engagement with Tier 1 UK banking institutions. His experience inside RBS/NatWest provides direct insight into how security infrastructure decisions are evaluated, funded and implemented within regulated financial environments, including vendor approval processes and large-scale transition planning.

Brian Stockbridge, Director of Vault, commented:

"UK banks will be central to early post-quantum adoption. Gordon's experience at senior levels within NatWest gives us direct insight into how security infrastructure decisions are assessed and implemented inside regulated financial institutions. His appointment strengthens our ability to align strategic positioning with credible institutional pathways."

Gordon Merrylees commented:

"The transition to post-quantum security will be shaped by regulatory expectations and institutional risk frameworks. Financial institutions must prepare methodically for that shift. Vault's focus on long-duration security infrastructure aligns with how banks approach systemic technology change."

The Directors of the Company take responsibility for this announcement.

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Important Notice:

The Company operates a cryptocurrency treasury. The Company's treasury activities involve investment in financial instruments that may fluctuate in value and are subject to market, credit and liquidity risks. These investments are undertaken for corporate purposes and are not offered to the public. This announcement does not constitute investment advice or an offer or invitation to invest. Past performance is not a reliable indicator for future results. Capital is at risk and returns are not guaranteed.

1. Capital at risk

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2. No guarantee of returns

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3. Liquidity risk

Some treasury assets may be illiquid or subject to market constraints, which could affect the company's ability to access funds when needed.

4. Market and Interest Rate Exposure

Changes in interest rates. Inflation or broader market conditions may adversely impact the value or performance of treasury investments.

5. Credit and counterparty risks

The Company is exposed to the risk that counterparties may default on their obligations, potentially resulting in financial loss.

6. Regulatory and taxation uncertainty

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This communication is provided for information purposes only and does not constitute an offer or invitation to invest. The treasury strategy is managed for corporate purposes and is not marketed to the public.