Corporation Service Company, Inc. agreed to acquire Intertrust N.V. (ENXTAM:INTER) for €1.8 billion on December 6, 2021. Corporation Service has committed financing in place providing high deal certainty and will fund the transaction through a combination of debt and cash available resources. A special committee consisting of Supervisory Board members Hélène Vletter-van Dort, Toine van Laack and Stewart Bennett has focused in particular on safeguarding the interests of Intertrust's stakeholders and ensured a fair and thorough process. The proposed transaction is subject to obtaining Regulatory and Competition Clearances. The transaction is also subject to minimum acceptance level of at least 95% of the shares. At the AGM on May 31, 2022, 55.50% of the total issued share capital was represented. The minimum acceptance level threshold has been reduced to 80%, from 95% as a result of the adoption of the Asset Sale and Liquidation Resolutions. The Management Board and Supervisory Board of Intertrust fully and unanimously support the offer. There will be no reduction in the number of employees of the Intertrust as a direct consequence of the Transaction. As on December 30, 2021, CSC and Intertrust confirm that they are making good progress on the preparations for the Offer. A request for review and approval of the Offer Memorandum will be filed with the AFM no later than in the second half of February 2022. In addition, the process to obtain the required competition clearances and regulatory clearances is ongoing. Intertrust's joint works council in the Netherlands has rendered a positive advice on the decision of Intertrust's Management Board and Supervisory Board to support the transaction and recommend the Offer. As of July 24, 2022, CSC and Intertrust have obtained Regulatory Clearance in Curaçao. As of July 21, 2022, Additional regulatory clearances have been obtained from Jersey and United Kingdom. As of May 31, 2022, recommended public Offer by CSC has been approved by shareholders of Intertrust. All applications for the Regulatory Clearances have been filed and approval has been obtained from the regulators in Guernsey, Hong Kong, and the United Arab Emirates. Transaction is also subject to obtaining approval from Intertrust in Annual General meeting to be held on May 31, 2022. As of July 31, 2022, the transaction have obtained Regulatory Clearance in the British Virgin Islands. As of August 22, 2022, the transaction have obtained regulatory clearance in the Singapore. As of August 26, 2022, the transaction has obtained regulatory clearance in the Luxembourg for Intertrust (Luxembourg) S.à r.l. CSC. As of August 30, 2022, the transaction has obtained regulatory clearance for Intertrust's payment institution (betaalinstelling) in the Netherlands. As per update on March 31, 2022, offer period will commence from April 1, 2022 to June 10, 2022. As of May 30, 2022, the offer period has been extended by 10 weeks thus ending on August 19, 2022. As of July 21, 2022, the offer period has been extended to earlier of (i) the date on which all Regulatory Clearances have been obtained or waived, plus a period of two weeks, or (ii) 6 December 2022. As of July 28, 2022, the transaction is expected to close in the second half of 2022. As of September 15, 2022, CSC and Intertrust have obtained Regulatory Clearance in Ireland. CSC and Intertrust have not yet received all Regulatory Clearances in the following jurisdictions: the Bahamas, the Cayman Islands, Luxembourg, and the Netherlands. As of October 6, 2022, Intertrust have now obtained all required Regulatory Clearances in Luxembourg. CSC and Intertrust continue to anticipate that the Offer will close in the second half of 2022. As of October 7, 2022 CSC and Intertrust have obtained Regulatory Clearance from the Central Bank of the Bahamas. On October 31, 2022, CSC and Intertrust announced that Shares representing 94.66% of Intertrust's Outstanding Capital have been tendered under the Offer and that all other Offer Conditions have also been satisfied. As a result, CSC declares the Offer unconditional. Settlement of the Offer will take place on 4 November 2022. Shareholders who have not yet tendered their Shares may tender their Shares during the Post-Acceptance Period ending on November 14, 2022. following the Post-Acceptance Period, (i) the Offeror meets the threshold to initiate a compulsory acquisition procedure (meaning that more than 95% of the Outstanding Capital has been tendered) (the “Squeeze-Out Proceedings Threshold“), the Offeror and Intertrust will, following expiry of the Post-Acceptance Period, implement the Pre-Squeeze-Out & it will together with Intertrust seek to procure the delisting of the Shares from Euronext .

Stephen Kotran of Deutsche Bank Aktiengesellschaft (XTRA:DBK), Goldman Sachs Bank Europe SE and Rothschild & Co SCA (ENXTPA:ROTH) acted as financial advisors and fairness opinion providers and Arne Grimme, Barbara Kloppert, Ferdinand Hengst, Helen Gornall, Reinier Kleipool, Wiebe Dijkstra and Eva Schram of De Brauw Blackstone Westbroek N.V. acted as legal advisors to Intertrust. Jefferies Financial Group Inc. (NYSE:JEF) and Wells Fargo & Company (NYSE:WFC) acted as financial advisors and Faiz Ahmad, Trevor Allen, M. Janine Jjingo and David Passes of Skadden, Arps, Slate, Meagher & Flom LLP and Alexander Kaarls, Maurits de Haan, Kasper van der Sanden, Paul de Vries and Jeroen van Mourik of Houthoff Buruma Coöperatief U.A. acted as legal advisors to Corporation Service Company, Inc. Jan Louis Burggraaf of Allen & Overy acted as legal advisor for the Intertrust's Supervisory Board. BofA Securities acted as a financial advisor to CSC.

Corporation Service Company, Inc. completed the acquisition of Intertrust N.V. (ENXTAM : INTER) on November 14, 2022.