Comments from Mintos about the Claims Secondary Market and it's future

Hi everyone,

I had a phone call with: Marite Urbanovica - Investor Services Agent about the Claims' Secondary Market. Here is a summary of the phone call:

Communication issues: Can we get in contact with Mintos more easily in the future? Will phone calls come back in the future?

• They are planning that. No exact date.

1. Why was the secondary market closed?

• Regulator decided to close the secondary market for claims. Claims are not regulated products, thus they should not be existing.

2. When was it decided by the regulator?

• Probably in May. She will come back to that.

3. Why was it done so quickly?

• This was the decision of the management/regulator. She will ask management and come back to us.

4. Would it have been possible to discuss with the regulator to delay it a bit longer, for the protection of the investors?

• She will come back about this as well.

5. Why didn't you communicate it more clearly? Was it because of fear of panic sales?

• She will check with management and marketing.
• Marite: "Maybe it could have been due to panic sales".

6. What are potential solutions? Are you working on something?

• For now, the only information she has that the Secondary Market will keep being closed.

7. Do you agree that there should be a solution?

• From the perspective of the investors, yes. But from the other side, I can not comment. There were for sure no bad intentions she says.
• I reiterated that maybe there have been no bad intentions, maybe there have been. Sometimes people do bad things with the best intentions (see WWII). Even if there were good intentions, there have been made mistakes (communication, quickness of the discussions).

They will be coming back to the unanswered questions this week.

I recorded the conversation on my Macbook.

Please everyone, comment here as much as possible to let Mintos know that we need solutions.