Grayscale Zcash Trust sponsor reorganized; same board, no material impact

Grayscale Zcash Trust (ZEC)

GSOIH transferred managing member rights to Grayscale Investments, Inc., effective Oct 22, 2025.
Grayscale Investments is now sole managing member of GSO, sole member of the Sponsor.
Board of Grayscale Investments comprises Barry Silbert, Mark Shifke, Simon Koster, Peter Mintzberg, Edward McGee.
Grayscale Investments, GSOIH, GSO, and GSIS are all consolidated subsidiaries of Digital Currency Group, Inc.
Sponsor states reorganization expected to have no material impact on the Trust's operations.

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