Final Terms iShares Digital Asset AG 5.11.2026

Series:

iShares Bitcoin ETP

Tranche Number: 227

Series Currency:

USD

Number of Securities of the Series:

(i) Prior to the issue of the Tranche of Securities to which these Final Terms relate:

186,969,448

(ii) Immediately following the issue of the Tranche of Securities to which these Final Terms relate:

187,614,448

(Net)

(iii) Comprising the Tranche of Securities to which these Final Terms relate:

645,000

Issue Price:

8.02

Principal Amount:

US$0.42

Initial Cryptoasset Entitlement:

0.0001 (as at the Series Issue Date)

Series Issue Date:

24 March 2025

Issue Date of the Tranche of Securities: 5 November 2026

Date on which Board approval for issuance of Securities obtained:

7 August 2025 (in respect of Securities to be listed on the Official List of the FCA)

Additional Security Agreements:

Not Applicable

Additional Business Centre:

Not Applicable

Cash Subscriptions:

Not applicable unless otherwise notified by the Issuer in accordance with the Conditions

Cash Redemptions:

Not applicable unless otherwise notified by the Issuer in accordance with the Conditions

Delivery Precision Level:

8 decimal places

TRANSACTION PARTIES

Authorised Participant(s):

Flow Traders B.V., Jacob Bontiusplaats 9, 1018 LL Amsterdam, The Netherlands

Jane Street Financial Limited, 2 & A Half Devonshire Square London EC2M 4UJ, United Kingdom

Virtu Financial Ireland Limited, North Dock One, 5th Floor, 91-92 North Wall Quay, Dublin 1, D01 H7V7 Ireland

DRW Europe BV, 1, 7th Floor, Locatellikade, Amsterdam, AZ, 1076, Netherlands

Any changes to the list of Authorised Participants will be detailed on the Issuer Website (www.ishares.com).

Cryptoasset Trading Counterparty(ies) (as at the Series Issue Date):

The full list of Cryptoasset Trading Counterparties in respect of the Series from time to time is available on request from the Issuer, or the Arranger on its behalf.

Paying Agent(s):

The Bank of New York Mellon, London Branch

Custodian(s)

Coinbase Luxembourg S.A.

Account Bank

The Bank of New York Mellon, London Branch

PROVISIONS RELATING TO FEES

Total Expense Ratio (as at Series Issue Date):

The Total Expense Ratio is 0.25 per cent. per annum.

A partial TER waiver will apply from and including the Series Issue Date, to and including 31 December 2026, or such other date as specified on the Issuer Website. During this period, the Total Expense Ratio will be 0.15 per cent. per annum.

Subscription Fee (as at the Series Issue Date):

US$ 1,300 per Subscription Order

The Subscription Fee per Subscription Order was amended with effect from 19 October 2026 to a combination of (i) a flat fee of US$ 50, plus (ii) a percentage fee comprising 1 basis point of the value of the Subscription Settlement Amount in respect of such Subscription Order, subject to a cap of US$ 2,050.

GENERAL PROVISIONS APPLICABLE TO THE SECURITIES

(i) Listing:

Application has been made for the Securities to be admitted to listing on the Official List of the FCA.

(ii) Trading:

Application has been made by the Issuer (or on its behalf) for the Securities to be admitted to trading on the Main Market of the London Stock Exchange.

The earliest date on which the Tranche of Securities will be admitted to trading will be 6 November 2026.

(iii) Relevant Stock Exchange:

London Stock Exchange

(iv) Estimate of the total expenses related to the admission to trading:

Not applicable

INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE

Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved in the offer of the Securities has an interest material to the offer.

REASONS FOR THE OFFER

Reasons for the offer:

See section headed "Reasons for the Offer and Use of Proceeds" in the Base Prospectus.

Estimated net proceeds:

1 bitcoin based on 10,000 Securities being issued (as at the Series Issue Date).

PERFORMANCE OF THE CRYPTOASSET AND OTHER INFORMATION CONCERNING THE CRYPTOASSET

Information on the past and future performance and volatility of bitcoin can be obtained by electronic means from https://bitcoin.org/en/. Such information can be obtained free of charge.

See also description of the Cryptoasset in the section entitled "Cryptoasset Market Overview" in the Base Prospectus.

OPERATIONAL INFORMATION

ISIN:

XS2940466316

Any other identification number (if applicable):

Ticker: IB1T (London Stock Exchange)

SEDOL: BTXT KZ1

Relevant Clearing System(s):

Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme

Delivery:

Delivery free of payment.

Trading Method:

Securities

Minimum Trading Amount:

At least 1 Security

Maximum Issue Size:

The aggregate number of Securities of the Series which are outstanding from time to time will not exceed an amount of 50 billion Securities.

Information with regard to the manner, place and date of the publication of the results of the offer.

Not applicable

DISTRIBUTION