254900ARU0VC1WY6GJ71 2023-01-012023-12-31




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TABLE OF CONTENTS

Summary
Part A - Information about the offeror or the person seeking admission to trading
Part B - Information about the issuer, if different from the offeror or person seeking admission to trading
Part C- Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114
Part D - Information about the crypto-asset project
Part E - Information about the offer to the public of crypto-assets or their admission to trading
Part F - Information about the crypto-assets
Part G - Information on the rights and obligations attached to the crypto-assets
Part H - information on the underlying technology
Part I - Information on risks
Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts





I.01: Date of notification

20.06.2025





I.02: Statement in accordance with Article 6(3) of Regulation (EU) 2023/1114

This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset white paper.' Where relevant in accordance with Article 6(3), second subparagraph of Regulation (EU) 2023/1114, reference shall be made to 'person seeking admission to trading' or to 'operator of the trading platform' instead of 'offeror'.





I.03: Compliance statement in accordance with Article 6(6) of Regulation (EU) 2023/1114

This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 and, to the best of the knowledge of the management body, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto- asset white paper makes no omission likely to affect its import.'





I.04: Statement in accordance with Article 6(5), points (a), (b), (c) of Regulation (EU) 2023/1114

The crypto-asset referred to in this white paper may lose its value in part or in full, may not always be transferable and may not be liquid.'





I.05: Statement in accordance with Article 6(5), point (d) of Regulation (EU) 2023/1114

TRUE





I.06: Statement in accordance with Article 6(5), points (e) and (f) of Regulation (EU) 2023/1114

The crypto-asset referred to in this white paper is not covered by the investor compensation schemes under Directive 97/9/EC of the European Parliament and of the Council. The crypto-asset referred to in this white paper is not covered by the deposit guarantee schemes under Directive 2014/49/EU of the European Parliament and of the Council.'





Summary

I.07: Warning in accordance with Article 6(7), second subparagraph of Regulation (EU) 2023/1114 Warning This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto – asset on the content of the crypto- asset white paper as a whole and not on the summary alone. The offer to the public of this crypto- asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 of the European Parliament and of the Council (36) or any other offer document pursuant to Union or national law.'

I.08: Characteristics of the crypto-asset The $H token is a utility crypto-asset that enables holders to participate in the governance of the Humanity Protocol, stake in validator operations, and earn rewards for biometric verification activities. It does not grant equity, profit-sharing, or redemption rights. Token holders may submit and vote on proposals using Snapshot, and validators stake $H to perform identity verification functions. These governance rights may evolve subject to community proposals passed under the governance framework described in this white paper. No rights are guaranteed or enforceable against the issuer.

I.09: The $H token provides access to protocol governance, staking for validator roles, and participation in biometric proof-based incentive programs. It enables holders to contribute to decision-making processes and claim rewards for network contributions. The $H token is fully transferable across compatible wallets, subject to geoblocking and sanctions screening implemented at the protocol layer. Access to certain services (e.g., validator roles or incentive claims) may be restricted by eligibility requirements such as staking minimums or regional compliance limitations.

I.10: Key information about the offer to the public or admission to trading The $H token is not offered to the public through a primary fundraising event (e.g. ICO or token sale). Instead, it is admitted to trading on regulated crypto-asset platforms (VASPs) in the European Economic Area. The total supply of $H is 10,000,000,000 tokens. No subscription goals, minimum purchase amounts, or issue prices apply to this admission. The token will be listed and available to retail and institutional participants at market-determined prices via authorised platforms such as Bitstamp and Bitvavo. Distribution includes occasional airdrops, which are non-monetary token allocations based on community engagement, validator participation, or other predefined eligibility criteria. These airdrops are not part of a public offer and do not involve payment or subscription. Prior to listing, early-stage token allocations were made to contributors, investors, and ecosystem participants under structured vesting and lock-up conditions. No CASP or broker-dealer is appointed for the offering, and the placement is conducted without a firm commitment basis.



Part A - Information about the offeror or the person seeking admission to trading

A.1: Name Humanity Reserve Limited

A.2: Legal form

A.3: Registered address

A.4: Head office

A.5: Registration Date 23.04.2025

A.6: Legal entity identifier

A.7: Another identifier required pursuant to applicable national law

A.8: Contact telephone number +1 (781) 563-5593

A.9: E-mail address [email protected]

A.10: Response Time (Days) 3D

A.11: Parent Company

A.12: Members of the Management body Yee Wai Chong

A.13: Business Activity Humanity Reserve Limited is a wholly owned subsidiary of Humanity Foundation, a Cayman Islands–incorporated Exempted Limited Guarantee Foundation Company. It serves exclusively as the legal issuer of the $H utility token under the MiCA regulation. Humanity Reserve Limited does not conduct operational, financial, or crypto-asset services activities. Its sole function is to facilitate the compliant admission of the $H token to trading platforms in the European Economic Area. The primary markets targeted include MiCA-regulated crypto-asset trading venues in the EEA.

A.14: Parent Company Business Activity Humanity Foundation is a Cayman Islands–incorporated Exempted Limited Guarantee Foundation Company. Its principal activity is to support the development and governance of decentralised digital identity infrastructure through funding, oversight, and policy direction. The Foundation holds strategic reserves of the $H token and provides non-operational oversight over its issuance and use. It does not engage in commercial activity or offer crypto-asset services. Its primary focus is the long-term stewardship of the Humanity Protocol ecosystem, with a global scope including the European Economic Area.

A.15: Newly Established TRUE

A.16: Financial condition for the past three years Not applicable. Humanity Reserve Limited was incorporated on 23 April 2025 and has not been in existence for the past three years. As a non-operational issuer established solely for the admission of the $H token under the MiCA regulation, it has no financial history. The company has no assets, liabilities, revenue, or expenditures outside of regulatory and compliance-related expenses.

A.17: Financial condition since registration Humanity Reserve Limited was incorporated on 23 April 2025 and functions solely as the legal issuer of the $H utility token under the MiCA Admission to Trading (ATTR) regime. Since its incorporation, the company has not carried out any commercial activity, holds no revenue-generating assets, and has no liabilities or financial obligations. Its financial condition is stable, with minimal expenditures limited to administrative and compliance-related service costs associated with legal registration, white paper preparation, and MiCA filings. The company has not issued financial statements to date. No material financial events or changes have occurred since registration.



Part B - Information about the issuer, if different from the offeror or person seeking admission to trading

B.1: Issuer different from offeror or person seeking admission to trading FALSE

B.2: Name

B.3: Legal form

B.4: Registered address

B.5: Head office

B.6: Registration Date

B.7: Legal entity identifier

B.8: Another identifier required pursuant to applicable national law

B.9: Parent Company

B.10: Members of the Management body

B.11: Business Activity

B.12: Parent Company Business Activity



Part C- Information about the operator of the trading platform in cases where it draws up the crypto-asset white paper and information about other persons drawing the crypto-asset white paper pursuant to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114

C.1: Name

C.2: Legal form

C.3: Registered address

C.4: Head office

C.5: Registration Date

C.6: Legal entity identifier of the operator of the trading platform

C.7: Another identifier required pursuant to applicable national law

C.8: Parent Company

C.9: Reason for Crypto-Asset White Paper Preparation

C.10: Members of the Management body

C.11: Operator Business Activity

C.12: Parent Company Business Activity

C.13: Other persons drawing up the crypto- asset white paper according to Article 6(1), second subparagraph, of Regulation (EU) 2023/1114 Human Institute Limited, Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands. LEI: 984500C4E94D05090297

C.14: Reason for drawing the white paper by persons referred to in Article 6(1), second subparagraph, of Regulation (EU) 2023/1114 Human Institute Limited was responsible for drafting the crypto-asset white paper in its capacity as the technical developer of Humanity Protocol. While not the issuer, it possesses the subject-matter expertise necessary to accurately describe the protocol’s architecture, utility token mechanics, and sustainability characteristics required under MiCA Article 6.



Part D - Information about the crypto-asset project

D.1: Crypto-asset project name Humanity Protocol

D.2: Crypto-assets name H Token

D.3: Abbreviation $H

D.4: Crypto-asset project description Humanity Protocol is a decentralised identity infrastructure deployed on Arbitrum AnyTrust. It enables anonymous but verifiable proof-of-personhood using palm-vein biometrics and zero-knowledge proofs. The protocol allows users to generate zkID credentials that are non-replicable, private, and Sybil-resistant. It supports use cases such as identity-gated airdrops, DAO onboarding, and public services requiring uniqueness without identity leakage.

D.5: Details of all natural or legal persons involved in the implementation of the crypto-asset project

D.6: Utility Token Classification TRUE

D.7: Key Features of Goods/Services for Utility Token Projects The $H token grants access to on-chain governance, staking roles for identity validators, biometric verification incentives, and ecosystem integrations. It is required to participate in network governance proposals, operate zkProofer nodes, and access certain protocol features such as identity-gated applications.

D.8: Plans for the token Q1 2024 – zkID architecture finalized Q2 2024 – Validator testnet deployed Q3 2024 – DePIN scanner network integrated Q4 2024 – Quantstamp audit and AML policy completed Q1 2025 – $H token smart contract deployed Q2 2025 – MiCA white paper finalized Q3 2025 – Token admitted to trading on Bitstamp, Bitvavo, and other VASPs 2026+ – Expansion to public sector pilots, zkID standardisation, and open validator ecosystem

D.9: Resource Allocation Humanity Foundation has allocated initial development grants and strategic token reserves to Human Institute Limited for protocol development, validator testing, and infrastructure integration. Smart contract auditing, legal compliance, and white paper preparation were funded from Foundation Treasury allocations. The $H token was not sold in a public or private sale.

D.10: Planned Use of Collected Funds or Crypto-Assets Tokens will be distributed through ecosystem incentives, validator rewards, and airdrops based on predefined eligibility criteria.



Part E - Information about the offer to the public of crypto-assets or their admission to trading

E.1: Public Offering or Admission to trading ATTR

E.2: Reasons for Public Offer or Admission to trading Admission to trading is sought to ensure wide market accessibility and increase the liquidity and utility of the $H token. The listing aims to support broader user engagement with Humanity Protocol’s decentralised identity ecosystem and enhance transparency and regulatory alignment in anticipation of MiCA implementation.

E.3: Fundraising Target Not applicable

E.4: Minimum Subscription Goals Not applicable

E.5: Maximum Subscription Goal Not applicable

E.6: Oversubscription Acceptance FALSE

E.7: Oversubscription Allocation Not applicable

E.8: Issue Price Not applicable

E.9: Official currency or any other crypto- assets determining the issue price Not applicable

E.10: Subscription fee Not applicable

E.11: Offer Price Determination Method The token is currently listed on secondary markets and trading price is determined by supply and demand dynamics. No additional issuance or pricing method applies to this admission.

E.12: Total Number of Offered/Traded Crypto- Assets 10,000,000,000

E.13: Targeted Holders ALL

E.14: Holder restrictions None. The $H token is publicly tradable and not subject to any restrictions on holder types.

E.15: Reimbursement Notice Purchasers participating in the offer to this public of crypto-asset will be able to be reimbursed if the minimum target subscription goal is not reached at the end of the offer to the public, if they exercise the right to withdrawal foreseen in Article 13 of Regulation (EU) 2023/1114 or if the offer is cancelled'

E.16: Refund Mechanism Not applicable — no offer to the public; admission to trading only.

E.17: Refund Timeline Not applicable

E.18: Offer Phases The $H token has undergone several phases, including private issuance, community development, incentivised testnet, and airdrop distribution. Admission to trading on regulated platforms marks the next phase to enable liquidity and broad token utility.

E.19: Early Purchase Discount During the early stages of token rollout, tokens were allocated via airdrops and community rewards. These distributions were non-purchase based and intended to incentivise ecosystem growth. No preferential purchase pricing was offered.

E.20: Time-limited offer FALSE

E.21: Subscription period beginning

E.22: Subscription period end

E.23: Safeguarding Arrangements for Offered Funds/Crypto-Assets Custodial and safeguarding arrangements are governed by the terms of the trading platforms and supported by third-party custody and smart contract-based access controls. All digital asset movements are verifiable on-chain.

E.24: Payment Methods for Crypto-Asset Purchase Not applicable — no primary purchase. Token is available for trading on secondary markets through supported crypto exchanges.

E.25: Value Transfer Methods for Reimbursement Not applicable — since this is not an offer to the public, no funds are collected requiring reimbursement.

E.26: Right of Withdrawal Not applicable — no public offer under Article 13. Purchasers buying on secondary markets should refer to trading platform T&Cs.

E.27: Transfer of Purchased Crypto-Assets Tokens are distributed to holders via blockchain transactions directly to their self-custodied or custodial wallets based on exchange settlement rules.

E.28: Transfer Time Schedule 03.07.2025

E.29: Purchaser's Technical Requirements A blockchain-compatible wallet (e.g., Ethereum EVM-compatible wallet) with access to the supported trading platform is required.

E.30: Crypto-asset service provider (CASP) name TBC

E.31: CASP identifier

E.32: Placement form WOUT

E.33: Trading Platforms name TBC

E.34: Trading Platforms Market Identifier Code (MIC)

E.35: Trading Platforms Access Investors will be able to access the Humanity Protocol token ($H) through official websites and mobile applications of authorised trading platforms, subject to standard onboarding and KYC procedures. Additional listings on other reputable, MiCA-compliant centralised and decentralised exchanges are planned and will be announced publicly once confirmed, to further enhance access and liquidity.

E.36: Involved costs Investors may incur transaction fees, trading fees, and withdrawal fees depending on the terms set by each trading platform. These costs are published on the official websites of authorised trading platforms and may vary based on trading volume and user tier.

E.37: Offer Expenses Expense Description Amount (USD) Legal and Regulatory Fees 15,000.000 Marketing and Promotion Costs 10,500.000 Platform Listing Fees 5,000.000 Third-party Audit Fees 8,250.000 Miscellaneous Administrative Expenses 2,000.000

E.38: Conflicts of Interest There are no known conflicts of interest between Human Institute Limited, its directors, or affiliated persons and the trading platforms or any party involved in the listing process. In the event any conflict arises, it will be disclosed transparently in accordance with MiCA Article 20.

E.39: Applicable law British Virgin Islands

E.40: Competent court Commercial Division of the Eastern Caribbean Supreme Court, Virgin Islands



Part F - Information about the crypto-assets

F.1: Crypto-Asset Type Utility Token

F.2: Crypto-Asset Functionality $H is a utility token used to access and participate in the Humanity Protocol ecosystem. It enables identity verification, staking, governance voting, and interactions within decentralised applications integrated with the protocol.

F.3: Planned Application of Functionalities The core functionalities of $H will be live upon admission to trading, with extended use cases activated progressively in line with project milestones, including integrations with dApps and DAO voting mechanics.

A description of the characteristics of the crypto-asset, including the data necessary for classification of the crypto-asset white paper in the register referred to in Article 109 of Regulation (EU) 2023/1114, as specified in accordance with paragraph 8 of that Article

F.4: Type of white paper OTHR

F.5: The type of submission NEWT

F.6: Crypto-Asset Characteristics $H is an ERC-20 compatible utility token deployed on the Ethereum mainnet. It has a fixed maximum supply and is non-redeemable and non-interest bearing. The token is transferable and fungible across supported platforms and wallets.

F.7: Commercial name or trading name Humanity Protocol

F.8: Website of the issuer https://www.humanity.org/

F.9: Starting date of offer to the public or admission to trading 25.06.2025

F.10: Publication date 22.07.2025

F.11: Any other services provided by the issuer None applicable under Regulation (EU) 2023/1114. The issuer does not offer crypto-asset services or custodial functions.

F.12: Identifier of operator of the trading platform

F.13: Language or languages of the white paper English

F.14: Digital Token Identifier Code used to uniquely identify the crypto-asset or each of the several crypto assets to which the white paper relates, where available Pending issuance

F.15: Functionally Fungible Group Digital Token Identifier, where available Not available

F.16: Voluntary data flag FALSE

F.17: Personal data flag FALSE

F.18: LEI eligibility TRUE

F.19: Home Member State Netherlands

F.20: Host Member States Austria Belgium Bulgaria Croatia Cyprus Czechia Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden



Part G - Information on the rights and obligations attached to the crypto-assets

G.1: Purchaser Rights and Obligations H token holders do not acquire ownership rights, dividends, voting rights, or any form of control over Humanity Reserve Limited, the Humanity Foundation, or any affiliated entity. Holding $H provides no entitlement to profits or governance. The token is a utility asset used to access certain features of Humanity Protocol, such as identity verification incentives and community engagement. Holders may use or transfer tokens in accordance with applicable laws and the platform’s technical design.

G.2: Exercise of Rights and obligations As $H does not confer specific legal rights or obligations, there are no procedures required for the exercise of such rights. The utility is accessed through technical interaction with the Humanity Protocol ecosystem (e.g., through participation in identity verification, reward claiming, or governance proposals, when available).

G.3: Conditions for modifications of rights and obligations Any future modifications to token functionality or the conditions of use will be made publicly available via official communication channels of Humanity Protocol. Changes may be implemented through smart contract upgrades or ecosystem-wide proposals (e.g., HIPs), subject to community input, if applicable. No unilateral changes will affect holders' balances retroactively.

G.4: Future Public Offers At this time, there are no planned additional public offerings by the issuer. However, tokens may be allocated by the Humanity Foundation in the future through incentive-based mechanisms (e.g., airdrops, reward campaigns, or ecosystem grants) in line with the published allocation strategy.

G.5: Issuer Retained Crypto-Assets 500,000,000

G.6: Utility Token Classification TRUE

G.7: Key Features of Goods/Services of Utility Tokens $H provides access to services within Humanity Protocol, including: Rewards for identity verification via zkProofer node participation. Access to ecosystem incentive programs. Eligibility for future airdrops and community onboarding initiatives. Use in proposed governance and community participation schemes under Humanity Improvement Proposals (HIPs).

G.8: Utility Tokens Redemption $H tokens are not redeemable for fiat currency or specific goods/services. Their utility is realised by engaging with the Humanity Protocol ecosystem, such as participating in identity verification programs or receiving community incentives through staking or airdrop eligibility.

G.9: Non-Trading request FALSE

G.10: Crypto-Assets purchase or sale modalities Not applicable.

G.11: Crypto-Assets Transfer Restrictions Transfers of the Humanity Protocol token ($H) may be restricted or prohibited in jurisdictions where crypto-assets are subject to legal limitations or bans. The Humanity Foundation reserves the right to exclude or restrict participation from users located in such jurisdictions, as well as to comply with applicable sanctions, anti-money laundering (AML), and counter-terrorism financing regulations.

G.12: Supply Adjustment Protocols FALSE

G.13: Supply Adjustment Mechanisms Not applicable. The token supply is fixed at 10,000,000,000 $H tokens and cannot be increased or decreased.

G.14: Token Value Protection Schemes FALSE

G.15: Token Value Protection Schemes Description Not applicable.

G.16: Compensation Schemes FALSE

G.17: Compensation Schemes Description Not applicable.

G.18: Applicable law British Virgin Islands

G.19: Competent court High Court of the British Virgin Islands, Commercial Division



Part H - information on the underlying technology

H.1: Distributed ledger technology The $H token is an ERC-20 standard token deployed on the Ethereum blockchain using a Transparent Upgradeable Proxy. Ethereum serves as the distributed ledger technology for issuance, transfer, and storage.

H.2: Protocols and technical standards The token adheres to the ERC-20 standard and uses OpenZeppelin's Transparent Upgradeable Proxy contract. It follows Solidity smart contract development standards and Ethereum EVM-compatible practices.

H.3: Technology Used The token is managed using smart contracts written in Solidity. It supports upgradeability via proxy contracts and access control mechanisms. Token operations—minting and burning—are restricted to the owner contract. The token is deployed on the Ethereum mainnet.

H.4: Consensus Mechanism The Ethereum network operates under the Proof-of-Stake (PoS) consensus mechanism, ensuring decentralised validation of transactions and security of the blockchain.

H.5: Incentive Mechanisms and Applicable Fees Transaction fees (gas fees) are payable in ETH and are required to execute any action on the Ethereum network. No additional token-level transaction fees are imposed by the issuer. The incentive mechanism for node operators is part of the Identity Verification Rewards pool, which allocates 18% of the total supply.

H.6: Use of Distributed Ledger Technology FALSE

H.7: DLT Functionality Description The Humanity Protocol token ($H) operates on the [specify blockchain, e.g., Ethereum] blockchain, a public decentralized distributed ledger. The DLT enables secure issuance, transfer, and storage of tokens without reliance on a central intermediary. Transactions are validated through a consensus mechanism ([e.g., Proof of Stake]) ensuring transparency, immutability, and security. Token ownership and transfer records are maintained on the blockchain, accessible to all network participants, enabling trustless and efficient token operations.

H.8: Audit TRUE

H.9: Audit outcome A full security audit was conducted by Quantstamp from January 7 to January 8, 2025. One informational issue was found and subsequently fixed. No high, medium, or low severity issues were detected. The audit confirms the Humanity token is secure, upgradeable, and restricts minting and burning to the contract owner.



Part I - Information on risks

I.1: Offer-Related Risks

I.2: Issuer-Related Risks

I.3: Crypto-Assets-related Risks

I.4: Project Implementation-Related Risks

I.5: Technology-Related Risks

I.6: Mitigation measures To mitigate technology risks, the $H token contracts underwent a full security audit by Quantstamp in January 2025. The use of established standards such as OpenZeppelin and proxy-based design helps maintain upgradeability and security. Critical operations like minting and burning are restricted to the contract owner. Treasury and operational funds are segmented by purpose and subject to internal oversight. Ongoing security reviews, community grants, and developer incentives aim to enhance resilience and adoption.



Part J - Information on the sustainability indicators in relation to adverse impact on the climate and other environment-related adverse impacts

General information

S.1: Name Humanity Reserve Limited

S.2: Relevant legal entity identifier

S.3: Name of the crypto- asset $H

S.4: Consensus Mechanism Proof-of-Stake (Ethereum mainnet)

S.5: Incentive Mechanisms and Applicable Fees Transaction validators (stakers) on Ethereum are rewarded for block validation and network security through native ETH incentives and priority fees. Gas fees are paid in ETH and fluctuate based on network congestion. No additional incentive or fee mechanism is operated by the issuer.

S.6: Beginning of the period to which the disclosure relates 01-01-2025

S.7: End of the period to which the disclosure relates 31-12-2025

Mandatory key indicator on energy consumption

S.8: Energy consumption 262.000.000.000

Sources and methodologies

S.9: Energy consumption sources and methodologies The estimated annual energy consumption figure is based on Ethereum's Proof-of-Stake (PoS) consensus mechanism, which significantly reduces energy use compared to Proof-of-Work (PoW). The methodology and data are derived from publicly available research by the Ethereum Foundation and Crypto Carbon Ratings Institute (CCRI), which estimate the network’s total consumption to be approximately 2.62 million kWh per year. This includes energy used for transaction validation, block production, and maintaining the integrity of the distributed ledger. Calculations are based on average validator node energy consumption and global validator count.

Supplementary key indicators on energy and GHG emissions

S.10: Renewable energy consumption 99.95%

S.11: Energy intensity 3 kwh

S.12: Scope 1 DLT GHG emissions – Controlled 0 tCO₂e

S.13: Scope 2 DLT GHG emissions – Purchased 16 tCO₂e

S.14: GHG intensity 2 kg CO2e (Tx)

Sources and methodologies

S.15: Key energy sources and methodologies Energy estimates are based on Ethereum PoS validators using energy-efficient hardware and widely distributed global infrastructure. Sources include: Ethereum Foundation environmental disclosures Crypto Carbon Ratings Institute (CCRI) report “Ethereum’s Energy Consumption After The Merge” Public blockchain analytics Calculations assume global average electricity mix for non-renewable estimates.

S.16: Key GHG sources and methodologies GHG emissions are estimated following GHG Protocol Corporate Standard, using Scope 1 and Scope 2 definitions: Scope 1: Direct emissions (none in Ethereum PoS) Scope 2: Purchased energy used by validator hardware Estimates are adapted from CCRI’s independent analysis, and no emissions arise directly from the issuer’s infrastructure.

Optional indicators

S.17: Energy mix Over 99% of Ethereum’s network validators use renewable energy sources. The energy mix includes solar, wind, hydro, and geothermal energy, based on validator location reports and estimates from the Crypto Carbon Ratings Institute (CCRI).

S.18: Energy use reduction Following Ethereum’s transition from Proof-of-Work to Proof-of-Stake in September 2022 (known as “The Merge”), energy consumption has decreased by more than 99.9%. This represents a reduction of over 100 TWh per year globally. Relative reduction: >99.9% Absolute reduction: Over 100,000,000,000 kWh per year

S.19: Carbon intensity Based on CCRI’s post-Merge data, Ethereum’s energy consumption results in approximately 0.00012 kgCO₂e per kWh, reflecting its reliance on renewable energy and highly efficient staking infrastructure.

S.20: Scope 3 DLT GHG emissions - Value chain Not applicable. Humanity Reserve does not operate validator infrastructure or contribute Scope 3 emissions in the context of the Ethereum network.

S.21: GHG emissions reduction targets or commitments Humanity Reserve commits to utilising energy-efficient and low-emission blockchains. Ethereum was selected for its post-Merge carbon efficiency and minimal environmental footprint.

S.22: Generation of waste electrical and electronic equipment (WEEE) Not applicable. The issuer does not operate any physical validator infrastructure and does not generate WEEE.

S.23: Non-recycled WEEE ratio

S.24: Generation of hazardous waste

S.25: Generation of waste (all types)

S.26: Non-recycled waste ratio (all types)

S.27: Waste intensity (all types)

S.28: Waste reduction targets or commitments (all types) Not applicable. The issuer does not engage in operations that produce or manage waste related to the validation of transactions.

S.29: Impact of the use of equipment on natural resources The Ethereum network operates on a decentralised validator structure using commercial-grade computing equipment with low energy requirements. The issuer itself does not operate or control validator infrastructure, resulting in minimal direct impact on natural resource extraction, use, or disposal.

S.30: Natural resources use reduction targets or commitments Humanity Reserve commits to using blockchain infrastructure that minimizes natural resource usage and avoids reliance on Proof-of-Work networks or high-resource infrastructure.

S.31: Water use 0.00000 m³

S.32: Non recycled water ratio 0%