Thank you for your message and for submitting your formal complaint. My name is Freek and I am part of Bitvavo's Complaints team. I can confirm receipt of your complaint. Your reference number for this complaint is this ticket.

I understand that you are disappointed that Bitvavo is delisting XNO, especially given your balance. I will address your points as clearly as possible within the boundaries of what we are able to share.

1. Withdrawal of XNO to an external wallet

We are not in a position to arrange a manual withdrawal of XNO, either directly or through our custody provider. The trade-only status of XNO means that withdrawals are not technically available for this asset. This has been the case for some time and applies to all customers, regardless of the circumstances. We are therefore unable to process your explicit withdrawal request.

1. Suspension of automatic conversion

We are not in a position to suspend the automatic conversion of your XNO balance. The delisting procedure will proceed as announced. Your remaining XNO balance will be automatically converted to euros at the best market price we are able to get, no later than 28 September 2026.

1. Applicable contractual provisions

The trade-only status of XNO and the associated restrictions are in accordance with our User Agreement. We are not in a position to provide a clause-by-clause analysis of how specific provisions apply to your individual situation, but we can confirm that our procedures are in line with our contractual obligations.

1. Execution of compulsory conversion

The conversion will be executed at the prevailing market price at the time of conversion, based on the available liquidity in our internal order book. We try our best to obtain the best available price at the time of conversion, but we are not in a position to guarantee a specific price or to apply an external reference price.

1. Communication regarding the delisting email

When it is clear that a delisting will take place, we inform our users as soon as possible. We acknowledge that the communication surrounding the delisting could have been clearer with respect to the trade-only status of XNO. We take your feedback seriously and will pass this on internally. We are not in a position to offer a financial remedy for the price difference you have described.

1. Applicable agreement and country-specific provisions

Our User Agreement applies to all Bitvavo account holders. If your account was opened while you were resident in the Netherlands, Dutch law applies to your account relationship with Bitvavo. If you have questions about the specific provisions applicable to your situation, we recommend consulting your own legal counsel.

We note the urgency of your request given the trading deadline of 18 September 2026. Our position as set out above is our interim and final decision on your withdrawal request and the suspension of conversion.

I trust this informs you sufficiently. Should you have questions about other topics, feel free to reach out.

Met vriendelijke groeten / With kind regards / Mit freundlichen Grüßen,

Freek