Has Iute Fulfilled Its Payment Obligations in Relation to the June 2026 Coupon Payment?

The required funds were transferred on time in accordance with the established payment process and entered the international clearing and settlement infrastructure.

The current issue relates to the processing and distribution of the payment within the settlement chain.

Is the Delayed Coupon Payment Related to Iute’s Liquidity Position?

Iute has no liquidity problems. The funds required for the coupon payment were transferred to the designated account on time in accordance with the established payment and settlement process.

Based on the information currently available, the delay relates to the settlement process and not to the availability of funds.

Have Any Investors Already Received Their Coupon Payment?

Based on the information currently available to the Company, a substantial portion of the coupon payment has been credited to investors.

This indicates that the settlement process is progressing, although it has not yet been completed for all bondholders.

Why Have Some Investors Received Their Coupon Payment While Others Are Still Waiting?

Investors may hold their bonds through different banks, custodians and settlement systems.

Coupon payments on international bonds are processed through a network of financial institutions and settlement systems. Depending on the custody chain through which an investor holds the bonds, payments may be credited at different points in time if delays occur within specific parts of the settlement infrastructure.

Is There Any Indication That Investors Are at Risk of Not Receiving Their Coupon Payment?

The funds required for the coupon payment have been transferred into the settlement process. The current issue concerns the timing of the final crediting of the payment to certain investors. The Company does not consider investors to be at risk of not receiving their coupon payment.

When Can Investors Expect to Receive Their Coupon Payment?

The Company understands that the remaining payments are currently being processed through the settlement infrastructure.

Because the final distribution of funds depends on several institutions involved in the settlement process, Iute is currently unable to provide a definitive timeline for the crediting of payments to individual investors.

Why Is Iute Unable to Provide a Definitive Timeline?

Once funds have entered the international clearing and settlement infrastructure, the timing of the final crediting depends on a number of institutions involved in processing securities transactions and payments.

As a result, Iute does not control the final stages of the settlement process and is dependent on information provided by the parties responsible for those stages.

Where Is the Coupon Payment Currently in the Settlement Process?

The Company understands that the funds have entered the international settlement infrastructure and that the distribution process is ongoing.

Because the settlement chain involves multiple institutions, Iute does not have direct visibility of the status of individual investor accounts. The Company is therefore dependent on information provided by the parties involved in the settlement process.

Why Is It Difficult To Obtain Detailed Information About Individual Payments?

International securities settlement systems operate through multiple intermediaries, including clearing systems, custodian banks and brokers.

Issuers generally do not have direct access to the records of individual investors or their securities accounts. As a result, Iute cannot independently verify the status of individual payments and must rely on information received from the institutions involved in the settlement process.

How Are Coupon Payments Distributed to Investors?

Investors interact only with their bank or brokerage account and therefore do not see the infrastructure operating behind the scenes.

In practice, coupon payments on international bonds are processed through multiple financial institutions and settlement systems before being credited to investors’ accounts. The exact path a payment takes may differ depending on how an investor holds the bonds and which settlement systems are involved.

The exact number of institutions involved may differ depending on the custody arrangements of individual investors.

This process normally operates efficiently and without disruption. However, because multiple parties may be involved, delays can occasionally occur even after an issuer has fulfilled its payment obligations.

Why Does Iute Not Transfer Coupon Payments Earlier?

Coupon payments are made in accordance with established market procedures and settlement timelines.

The timing of the final crediting to investors depends on the settlement process and is not determined solely by when the funds are transferred by the issuer.

Historically, Iute’s coupon and principal payments have been processed successfully using the same framework.

What Is Currently Known About the Delay?

The matter remains under review together with the parties involved in the settlement process.

Based on the information currently available, the delay appears to be related to the settlement process. The review is ongoing and no final conclusions regarding the circumstances of the delay have been reached.

What Is Iute Doing to Resolve the Situation?

The Company is working closely with the parties involved in the settlement process to support the completion of the payment process and to obtain clarity regarding the circumstances that led to the delay.

While the final stages of the settlement process are outside the Company’s control, Iute remains in regular contact with the relevant institutions actively follows up on the matter, and continues to support the completion of the settlement process closely.

What Is Iute Doing to Keep Investors Informed?

The Company is responding to investor enquiries, communicating with the parties involved in the settlement process and providing market updates where appropriate.

Iute remains committed to transparent communication throughout the process and will continue to provide updates as additional information becomes available.

Has Anything Similar Happened Before?

The settlement infrastructure used for Iute’s bond program has supported the timely processing of all previous coupon and principal payments since 2019. While delays within international clearing and settlement systems can occasionally occur, Iute has not previously experienced a comparable situation in connection with its bond program.

What Will Happen Once the Review Has Been Completed?

Once the settlement process has been completed and the circumstances surrounding the delay have been fully reviewed, Iute intends to evaluate the sequence of events together with the relevant parties and assess whether additional safeguards or controls can further strengthen future payment processes.

The Company’s objective remains the reliable and timely processing of coupon and principal payments and the continued confidence of its investors.