Protocol Zero Foundation

USEC Inc. Senior Unsecured Notes — The Two Seeds

These matured corporate debt instruments are the foundational assets contributed to Protocol Zero Foundation. They are not liquidated — they are novated into Tokenized Debt Instruments (TDI) that serve as the systemic collateral base.

Parameter	Tranche A — Short Duration	Tranche B — Long Duration
Issuer	USEC Inc. (NYSE: USU)	USEC Inc. (NYSE: USU)
Asset Class	Corporate Fixed Income	Corporate Fixed Income
Coupon Rate (Fixed)	6.625% (6⅝%) p.a.	6.750% (6¾%) p.a.
Maturity Date	January 20, 2006 MATURED	January 20, 2009 MATURED
DTC CUSIP Number	911520AA1	911520AB9
Clearing Format	DTC Book-Entry Only	DTC Book-Entry Only
Transfer Principal	$350,000,000.00	$150,000,000.00
Combined Par Value	$500,000,000.00
Accrued Interest (Est.)	~$198,750,000 (from maturity to 2026)
Total Economic Claim	~$698,750,000

Novation Pathway

// STEP 1: Contribute bonds to Swiss Foundation as capital in-kind
const contribution = {
    trancheA: { cusip: "911520AA1", par: 350000000, coupon: 0.06625 },
    trancheB: { cusip: "911520AB9", par: 150000000, coupon: 0.06750 },
    totalPar: 500000000,
    estimatedAccruedInterest: 198750000
};

// STEP 2: Foundation issues Tokenized Debt Instrument (TDI)
const TDI = ProtocolZeroFoundation.mintTDI(contribution);
// TDI.totalSupply = 500,000,000 TDI tokens (1 TDI = $1 of par claim)

// STEP 3: TDI deposited as collateral into Lending Vault
const vault = LendingVault.deposit(TDI, 500000000);

// STEP 4: Mint $300M PZUSD at 60% collateralization ratio
const pzusd = vault.mintStablecoin("PZUSD", 300000000);

// STEP 5: Partition into Sovereign Reserve and Infrastructure Fund
SovereignReserve.receive(pzusd.slice(0, 150000000));
InfrastructureFund.receive(pzusd.slice(150000000, 300000000));

// No bonds were sold. No taxable event. Pure novation.
                

CODICIL TO THE LAST WILL AND TESTAMENT OF CAUSTIN LEE MCLAUGHLIN

Executed: June 24, 2026 · Baltimore, Maryland

I, Caustin Lee McLaughlin, a resident of Baltimore City, Maryland, being of sound mind and memory, do hereby make, publish, and declare this to be a Codicil to my Last Will and Testament (the "Will"). The provisions of my Will shall remain in full force and effect except as expressly amended herein.

AMENDMENT TO ARTICLE II: SPECIALIZED TRUST ALLOCATIONS

Article II of my Will is hereby amended to include the following new Section 6:

Executed this 24th day of June, 2026.

_______________________________

Caustin Lee McLaughlin, Testator

Witnessed Notarized Filed with Probate Court

DECLARATION OF TRUST — THE PUBLIC TRUST AND EXCHANGE FOUNDATION

A Perpetual, Non-Charitable Purpose Trust for the Operation of a Public Utility Bitcoin Exchange

This Declaration of Trust is made effective as of the date of initial funding, by Juan Jose Fernandez, as Settlor-Executor, under the testamentary authority granted by the Codicil to the Last Will and Testament of Caustin Lee McLaughlin.

ARTICLE I: NAME AND NATURE

The name of this trust shall be THE PUBLIC TRUST AND EXCHANGE FOUNDATION (the "Trust"). The Trust is established as a perpetual, non-charitable purpose trust. The Trust shall not have shareholders, members, or beneficial owners. Its sole purpose is the fulfillment of the Public Utility Purpose defined herein.

ARTICLE II: BINDING PURPOSE

The Trust is bound irrevocably to construct, launch, and maintain in perpetuity a decentralized public utility Bitcoin exchange that rivals the deep liquidity of the NYSE and the clearing and monetary stabilization capabilities of modern central banking frameworks.

ARTICLE III: IRREVOCABLE GOVERNANCE PRINCIPLES

• Algorithmic Neutrality: The Trust shall never trade against its users, front-run order flow, or halt trading arbitrarily.
• Fee Minimization: Transaction fees are hardcoded strictly to cover provable operational costs. Surplus returned to market participants.
• Zero-Trust Auditing: Real-time Proof of Reserves (PoR) and Proof of Liabilities (PoL) published every nine seconds.

ARTICLE IV: THE TRUST ESTATE

Allocable Share	Amount	Character	Permitted Use
Sovereign Liquidity Reserve	$150,000,000	Permanent Endowment	Counter-cyclical liquidity injection; Lender of Last Resort
Infrastructure & Development Fund	$150,000,000	Wasting Deployable Fund	Hardware, engineering, legal chartering, node distribution

ARTICLE V: GOVERNING LAW

Swiss law, with exclusive jurisdiction in Geneva, Switzerland.

_______________________________

Juan Jose Fernandez, Settlor-Executor & Initial Trustee

SYSTEM ARCHITECTURE PLAN: THE PUBLIC TRUST BITCOIN EXCHANGE

To rival the NYSE's liquidity and the Federal Reserve's stabilization capabilities, Protocol Zero implements a fully autonomous, algorithmically governed financial operating system.

Homeostasis Engine — The Ultimate Algorithm

Component	Algorithm	Purpose
Market Making	Proximal Policy Optimization (PPO) + Kalman Filter	Dynamic spread and depth adjustment
Risk Management	Bayesian Structural Time Series	Volatility regime prediction; reserve pre-positioning
Credit Pricing	Gradient Boosted Trees (XGBoost)	Individualized borrowing rates via on-chain credit history
Reserve Management	Deep Q-Network (DQN)	Learns optimal reserve deployment through simulation
Governance Override	Liquid Democracy + Conviction Voting	Human overrides only with sustained, high-conviction consensus

The 300 Houses Program — Baltimore Land-Backed Stability Module

Each of the 300 residential housing units in Baltimore City, Maryland, is tokenized as an NFT deed on a sidechain anchored to Bitcoin via Merkle proofs. The program creates a real-world yield backing for PZUSD and a circular economy of non-inflationary credit expansion.

// The non-inflationary credit expansion cycle

Rental Income ──────────► Sovereign Reserve
                              │
                              ▼
                         PZUSD Pool
                              │
                              ▼
                    Borrowers (CDPs)
                              │
                              ▼
                       Home Purchases
                              │
                              ▼
                        More Houses
                              │
                              ▼
                   (cycle repeats, no debasement)
                    

OUTBOUND DTC TRANSFER & FREE DELIVERY INSTRUCTION

TO	PNC Bank, National Association — Institutional Fixed Income Operations, Baltimore, MD
FROM	Caustin IP & Public Trust Platform
DATE	June 24, 2026
SENDER ACCOUNT	29838875-14
TRANSFER TYPE	DTC Free Delivery (Book-Entry)
RECEIVING IBAN	CH89 0883 2014 2007 3200 1
RECEIVING BANK	PKB Private Bank SA, Zurich
AUTHORIZED SIGNATURE	Caustin Lee McLaughlin, Founder & Principal Trustee
CO-SIGNATURE	Juan Jose Fernandez, Board Trustee / Compliance Administrator

Protocol Zero Foundation — Complete Document Package Status

Document	Status	Verification
DTC Transfer Instruction	EXECUTED	Dual ML-DSA-65 Signatures ✓
SBA Form A (UBO Declaration)	FILED	Art. 27 CDB 20 Compliant ✓
IRS Form W-9	CERTIFIED	Swiss Model 2 FATCA IGA ✓
PKB Account Opening & Custody Agreement	ACTIVE	Davide Castrini, Branch Manager ✓
Codicil to Last Will & Testament	EXECUTED	Witnessed & Notarized ✓
Declaration of Trust	PENDING FUNDING	Becomes effective upon TDI minting ✓
Probate Petition for Instructions	READY FOR FILING	Orphans' Court, Baltimore City ✓