The relevant amendments to the Trust Agreement are set forth in Section 2.4(a) and
2.4(b) of the Second Amendment.
Transfer of the Total Basket Amount to the Vault Balance. This amendment provides that upon the
Custodians receipt of the Total Basket Amount, if the Total Basket Amount is received into the Settlement Balance, the Sponsor or its delegate shall direct the Custodian to transfer the Total Basket Amount to the Vault Balance.
The relevant amendments to the Trust Agreement are set forth in Section 3.3(a)(vi) of the Second Amendment.
Vault Balance. This amendment modifies the definition of Vault Balance to mean one or more segregated custody accounts of the Trust
maintained by the Custodian to store private keys, which allow for the transfer of ownership or control of the Trusts Ether on the Trusts behalf.
The relevant amendments to the Trust Agreement are set forth in the definition of Vault Balance in Section 1.1 of the Second
Amendment.
Consent to the resale of Shares of the Trust. This amendment allows the Sponsor to provide any written consent with
respect to the resale of the Shares in any document issued or delivered in connection with the sale or transfer of Shares, including any filings with the Securities and Exchange Commission (SEC).
The relevant amendments to the Trust Agreement are set forth in Section 4.2 of the Second Amendment.
Preparation of offering documents. This amendment provides that instead of supervising the preparation of the Memorandum (as defined in
the Trust Agreement) and any supplements and amendments thereto, the Sponsor will supervise the preparation of any confidential private placement memoranda, prospectuses, registration statements and supplements and amendments thereto and any filings
of the Trust with the SEC.
The relevant amendments to the Trust Agreement are set forth in Section 6.2(d) of the Second Amendment.
Authorization of Filings. This amendment authorizes the Trust, the Sponsor and the Trustee to (i) prepare and file
registration statements with the SEC and take such action as is necessary from time to time to qualify the Shares for offering and sale under the federal securities laws of the United States, (ii) prepare and file any current or periodic
reports that may be required under the Exchange Act, and (iii) execute, deliver and perform the agreements, acts, transactions and matters contemplated by the Second Amendment or described in, or contemplated by, any such registration
statements or such reports on behalf of the Trust without any further act, approval or vote of the Shareholders, notwithstanding any other provision of the Second Amendment, the Delaware Trust Statute or any applicable law, rule or regulation.
The relevant amendments to the Trust Agreement are set forth in Section 7.7 of the Second Amendment.
Calculation of NAV. This amendment provides that, in the event that the Sponsor determines that the methodology used to determine the
Index Price is not an appropriate basis for valuation of the Trusts Ether, the Sponsor shall use an alternative methodology as set forth in the Trusts filings with the SEC.
Under the current Trust Agreement, such an alternative methodology would be set forth in the Trusts Memorandum (as defined in the Trust
Agreement).
Additionally, this amendment makes certain clarifying amendments to the calculation of NAV to align such calculation with
the actual net assets of the Trust, by reflecting a reduction in the net assets of the Trust resulting from declared in-kind dividends where the Trust has an obligation to make a distribution to its shareholders.
The relevant amendments to the Trust Agreement are set forth in Section 8.4 of the Second Amendment.
Event of Withdrawal. This amendment updates the definition of an Event of Withdrawal to exclude the removal of the Sponsor, as
Shareholders do not have the ability to remove the Sponsor under the terms of the Trust Agreement.
The relevant amendments to the Trust
Agreement are set forth in Section 12.1(a)(iv) of the Second Amendment.
Notice to Shareholders. This amendment provides that
any notice to be given to the beneficial owners will be considered duly given if mailed or delivered to participants of The Depository Trust Company for delivery to such owners.
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