<SEC-DOCUMENT>0001104659-26-088126.txt : 20260729
<SEC-HEADER>0001104659-26-088126.hdr.sgml : 20260729
<ACCEPTANCE-DATETIME>20260729160351
ACCESSION NUMBER:		0001104659-26-088126
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20260729
DATE AS OF CHANGE:		20260729

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ProQR Therapeutics N.V.
		CENTRAL INDEX KEY:			0001612940
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-88671
		FILM NUMBER:		261217323

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		ZERNIKEDREEF 9
		CITY:			LEIDEN
		PROVINCE COUNTRY:   	P7
		BUSINESS PHONE:		31 88 166 7000

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		ZERNIKEDREEF 9
		CITY:			LEIDEN
		PROVINCE COUNTRY:   	P7

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ProQR Therapeutics B.V.
		DATE OF NAME CHANGE:	20140708

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VAN HERK INVESTMENTS B.V.
		CENTRAL INDEX KEY:			0001633120
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		LICHTENAUERLAAN 30
		CITY:			ROTTERDAM
		STATE:			P7
		ZIP:			3062ME
		BUSINESS PHONE:		0031102411555

	MAIL ADDRESS:	
		STREET 1:		LICHTENAUERLAAN 30
		CITY:			ROTTERDAM
		STATE:			P7
		ZIP:			3062ME
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
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    <coverPageHeader>
      <amendmentNo>7</amendmentNo>
      <securitiesClassTitle>Ordinary Shares, nominal value Euro 0.04 per share</securitiesClassTitle>
      <dateOfEvent>07/27/2026</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001612940</issuerCIK>
        <issuerCusips>
          <issuerCusipNumber>N71542109</issuerCusipNumber>
        </issuerCusips>
        <issuerName>ProQR Therapeutics N.V.</issuerName>
        <address>
          <com:street1>Zernikedreef 9</com:street1>
          <com:city>Leiden</com:city>
          <com:stateOrCountry>P7</com:stateOrCountry>
          <com:zipCode>2333 CK</com:zipCode>
        </address>
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      <authorizedPersons>
        <notificationInfo>
          <personName>Van Herk Investments B.V.</personName>
          <personPhoneNum>31-10-241-1555</personPhoneNum>
          <personAddress>
            <com:street1>Lichtenauerlaan 30,</com:street1>
            <com:city>The Netherlands</com:city>
            <com:stateOrCountry>P7</com:stateOrCountry>
            <com:zipCode>3062 ME</com:zipCode>
          </personAddress>
        </notificationInfo>
        <notificationInfo>
          <personName>Evan S. Simpson</personName>
          <personPhoneNum>44 20 795984-26</personPhoneNum>
          <personAddress>
            <com:street1>1 New Fetter Lane,</com:street1>
            <com:city>London</com:city>
            <com:stateOrCountry>X0</com:stateOrCountry>
            <com:zipCode>EC4A 1AN</com:zipCode>
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      <reportingPersonInfo>
        <reportingPersonCIK>0001633120</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Van Herk Investments B.V.</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>15384250.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>15384250.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of ProQR Therapeutics N.V. (the "Issuer") expected to be issued and outstanding as of June 26, 2026, as described in the Issuer's Prospectus Supplement dated June 25, 2026 and filed with the SEC pursuant to Rule 424(b)(5) on June 26, 2026 (the "Prospectus Supplement") (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Van Herk Investments THI B.V.</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Van Herk Private Equity Investments B.V.</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Stichting Administratiekantoor Penulata</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Van Herk Management Services B.V.</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Onroerend Goed Beheer- en Beleggingsmaatschappij A. van Herk B.V.</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>A. van Herk Holding B.V.</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>CO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Stichting Administratiekantoor Abchrys</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonNoCIK>Y</reportingPersonNoCIK>
        <reportingPersonName>Adrianus van Herk</reportingPersonName>
        <fundType>BK</fundType>
        <fundType>WC</fundType>
        <fundType>PF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>15384250.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>15384250.00</sharedDispositivePower>
        <aggregateAmountOwned>15384250.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>10.9</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
        <commentContent>* Based on 141,119,032 ordinary shares, nominal value Euro 0.04 per share, of the Issuer expected to be issued and outstanding as of June 26, 2026, as described in the Prospectus Supplement (after giving effect to the issuances of shares contemplated therein, which the Prospectus Supplement stated were expected to be completed on June 26, 2026).</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Ordinary Shares, nominal value Euro 0.04 per share</securityTitle>
        <issuerName>ProQR Therapeutics N.V.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>Zernikedreef 9</com:street1>
          <com:city>Leiden</com:city>
          <com:stateOrCountry>P7</com:stateOrCountry>
          <com:zipCode>2333 CK</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>This Schedule 13D/A (this "Amendment No. 7") amends the Schedule 13D filed on May 28, 2025, as amended by Amendment No. 1 filed on August 20, 2025, Amendment No. 2 filed on September 4, 2025, Amendment No. 3 filed on September 30, 2025, Amendment No. 4 filed on February 6, 2026, Amendment No. 5 filed on June 3, 2026 and Amendment No. 6 filed on June 30, 2026 (collectively, the "Original Schedule 13D," and as amended and supplemented by this Amendment No. 7, the "Schedule 13D"). Items 1, 2, 4, 5 and 7 of the Original Schedule 13D are hereby amended and supplemented to the extent hereinafter expressly set forth in this Amendment No. 7. Except as amended hereby, the original disclosure set forth in the Original Schedule 13D shall remain unchanged. All capitalized terms used and not expressly defined herein have the respective meanings ascribed to such terms in the Original Schedule 13D.</commentText>
      </item1>
      <item2>
        <filingPersonName>The information previously provided in response to Item 2 is hereby amended and restated by replacing the text thereof in its entirety with the following:

This statement is being filed by (i) Van Herk Investments B.V., a private company with limited liability incorporated under the laws of the Netherlands ("VHI"), with respect to Ordinary Shares, nominal value Euro 0.04 per share (the "Ordinary Shares"), beneficially owned by it, (ii) Van Herk Investments THI B.V., a private company with limited liability incorporated under the laws of the Netherlands ("VHIT"), with respect to Ordinary Shares beneficially owned by VHI, (iii) Van Herk Private Equity Investments B.V., a private company with limited liability incorporated under the laws of the Netherlands ("VHPI"), with respect to Ordinary Shares beneficially owned by VHI and VHIT, (iv) Stichting Administratiekantoor Penulata, a foundation organized under the laws of the Netherlands ("Penulata"), with respect to Ordinary Shares beneficially owned by VHI, VHIT and VHPI, (v) Van Herk Management Services B.V., a private company with limited liability incorporated under the laws of the Netherlands ("VHMS"), with respect to Ordinary Shares beneficially owned by VHI, VHIT and VHPI, (vi) Onroerend Goed Beheer- en Beleggingsmaatschappij A. van Herk B.V., a private company with limited liability incorporated under the laws of the Netherlands ("OGBBA"), with respect to Ordinary Shares beneficially owned by VHI, VHIT, VHPI and VHMS, (vii) A. van Herk Holding B.V., a private company with limited liability incorporated under the laws of the Netherlands ("Holdings"), with respect to Ordinary Shares beneficially owned by VHI, VHIT, VHPI, VHMS and OGBBA, (viii) Stichting Administratiekantoor Abchrys, a foundation organized under the laws of the Netherlands ("Abchrys"), with respect to Ordinary Shares beneficially owned by VHI, VHIT, VHPI, VHMS, OGBBA and Holdings, and (ix) Adrianus van Herk ("Mr. van Herk") with respect to Ordinary Shares beneficially owned by VHI, VHIT, VHPI, VHMS, OGBBA, Holdings, Penulata and Abchrys.

Each of Mr. van Herk, VHIT, VHPI, Penulata, VHMS, OGBBA, Holdings and Abchrys disclaims beneficial ownership of the securities covered by this statement.</filingPersonName>
        <principalBusinessAddress>The principal business address of each of Mr. van Herk, VHI, VHIT, VHPI, Penulata, VHMS, OGBBA, Holdings and Abchrys is:

Lichtenauerlaan 30
3062 ME Rotterdam

The Netherlands</principalBusinessAddress>
        <principalJob>Mr. van Herk is (i) an investor, (ii) the holder of all of the depositary receipts issued by Penulata and Abchrys, (iii) the sole board member of Penulata and Abchrys, and (iv) the sole managing director of VHMS, OGBBA and Holdings. Penulata holds substantially all of the issued and outstanding shares of VHPI. VHPI is the sole shareholder of VHIT. VHIT is the sole shareholder of VHI. VHI is principally engaged in making investments. Abchrys holds substantially all of the issued and outstanding shares of Holdings. Holdings is the sole shareholder of OGBBA. OGBBA is the sole shareholder of VHMS and is principally engaged in making investments. VHMS is the sole managing director of VHI, VHIT and VHPI.</principalJob>
        <hasBeenConvicted>During the last five years, none of the Reporting Persons, nor, to the knowledge of the Reporting Persons, any of the executive officers or directors of the Reporting Persons, if applicable, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</hasBeenConvicted>
        <convictionDescription>During the last five years, none of the Reporting Persons, nor, to the knowledge of the Reporting Persons, any of the executive officers or directors of the Reporting Persons, if applicable, has been a party to a civil proceeding of a judicial or administrative body of a competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
        <citizenship>Each of VHI, VHIT, VHPI, VHMS, OGBBA and Holdings is a private company with limited liability incorporated under the laws of the Netherlands. Penulata and Abchrys are Netherlands foundations. Mr. van Herk is a citizen of the Netherlands.</citizenship>
      </item2>
      <item4>
        <transactionPurpose>Item 4 of the Schedule 13D is amended by adding the following:

On July 27, 2026, the Reporting Persons filed a petition (the "Petition") with the Enterprise Chamber (Ondernemingskamer) of the Amsterdam Court of Appeal against the Issuer, pursuant to Article 2:345 of the Dutch Civil Code and including a request for immediate relief measures pursuant to Article 2:349a(2) of the Dutch Civil Code.

The Petition requests that the Enterprise Chamber (i) order an investigation into the policies and conduct of affairs of the Issuer from May 22, 2024 to the present, based on alleged systematic deviations by the Issuer's board of directors from the Issuer's own governance framework and applicable governance standards, including with respect to the reappointment of certain directors, the composition and independence of the board and its committees, and director compensation, and (ii) as an immediate relief measure, appoint an independent non-executive director to the Issuer's board of directors pending the outcome of the investigation.

The foregoing description of the Petition does not purport to be complete and is qualified in its entirety by reference to the full text of the English translation of the Petition, which is filed as Exhibit 99.2 hereto and incorporated herein by reference. The Reporting Persons reserve all rights to pursue any and all available legal remedies against the Issuer, members of the board of directors and/or certain officers of the Issuer, and continue to reserve all other rights described in Item 4 of the Schedule 13D.

The Reporting Persons acquired the Ordinary Shares reported herein for investment purposes in the ordinary course of business. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Ordinary Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the board of directors of the Issuer, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons' investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer's financial and/or operational performance, evaluating the initiation of additional legal proceedings against the Issuer, members of the board and/or certain officers of the Issuer, purchasing additional Ordinary Shares, selling some or all of their Ordinary Shares, engaging in short selling of or any hedging or similar transaction with respect to the Ordinary Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>The information previously provided in response to Item 5 is hereby amended and restated by replacing the text thereof in its entirety with the following:

The information set forth in or incorporated by reference in Items 2, 3, 4 and 6 and on the cover pages of this Schedule 13D is incorporated by reference in its entirety into this Item 5.</percentageOfClassSecurities>
        <numberOfShares>The information set forth in or incorporated by reference in Items 2, 3, 4 and 6 and on the cover pages of this Schedule 13D is incorporated by reference in its entirety into this Item 5.</numberOfShares>
        <transactionDesc>Except as set forth in this Schedule 13D, no transactions in Ordinary Shares of the Issuer have been effected during the past sixty days by any of the Reporting Persons.</transactionDesc>
        <listOfShareholders>Except as set forth herein, to the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any securities of the Issuer beneficially owned by the Reporting Persons as described in this Item 5.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item7>
        <filedExhibits>Item 7 of the Schedule 13D is amended by adding the following:

99.2* English translation of the Petition for Inquiry, filed with the Enterprise Chamber of the Amsterdam Court of Appeal on July 27, 2026, by Van Herk Investments B.V., Van Herk Investments THI B.V., Van Herk Private Equity Investments B.V., Stichting Administratiekantoor Penulata, Van Herk Management Services B.V., Onroerend Goed Beheer- en Beleggingsmaatschappij A. van Herk B.V., A. van Herk Holding B.V., Stichting Administratiekantoor Abchrys and Mr. Adrianus van Herk, against ProQR Therapeutics N.V.

* Filed herewith.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Van Herk Investments B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Van Herk Investments THI B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Van Herk Private Equity Investments B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Stichting Administratiekantoor Penulata</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Van Herk Management Services B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Onroerend Goed Beheer- en Beleggingsmaatschappij A. van Herk B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>A. van Herk Holding B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Stichting Administratiekantoor Abchrys</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Adrianus van Herk</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Erik G.A. Esveld</signature>
          <title>Erik G.A. Esveld/Attorney-In-Fact*</title>
          <date>07/29/2026</date>
        </signatureDetails>
      </signaturePerson>
      <commentText>* Pursuant to a Power of Attorney, dated as of September 16, 2019, by and among the Reporting Persons.</commentText>
    </signatureInfo>
  </formData>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>2
<FILENAME>tm2621582d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 99.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2621582d1_ex99-2header.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Dutch Enterprise Chamber of the Amsterdam
Court of Appeal</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>PETITION FOR AN INQUIRY PURSUANT
TO ARTICLE&nbsp;2:345 OF THE DUTCH CIVIL CODE, ALSO CONTAINING A REQUEST FOR IMMEDIATE RELIEF MEASURES PURSUANT TO ARTICLE&nbsp;2:349A(2)&nbsp;OF
THE DUTCH CIVIL CODE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Petitioners are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Van Herk Investments B.V.</B>,
                                            a private limited liability company with its registered office in Rotterdam (&ldquo;<B>VHI
                                            B.V</B>.&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Van Herk Investments THI B.V.</B>,
                                            a private limited liability company with its registered office in Rotterdam (&ldquo;<B>THI
                                            B.V</B>.&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Van Herk Private Equity Investments
                                            B.V.</B>, a private limited liability company with its registered office in Rotterdam (&ldquo;<B>VHPEI
                                            B.V</B>.&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Stichting Administratiekantoor
                                            Penulata</B>, a foundation with its registered office in Rotterdam (&ldquo;Penulata&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Van Herk Management Services
                                            B.V.</B>, a private limited liability company with its registered office in Rotterdam (&ldquo;<B>VH
                                            Management B.V</B>.&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Onroerend Goed Beheer- en
                                            Beleggingsmaatschappij A. van Herk B.V.</B>, a private limited liability company with its
                                            registered office in Rotterdam (&ldquo;<B>OG B.V</B>.&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>7.</B></TD><TD STYLE="text-align: justify"><B>A. van Herk Holding B.V.</B>,
                                            a private limited liability company with its registered office in Rotterdam (&ldquo;<B>VH
                                            Holding B.V</B>.&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>8.</B></TD><TD STYLE="text-align: justify"><B>Stichting Administratiekantoor
                                            Abchrys</B>, a foundation with its registered office in Rotterdam (&ldquo;Abchrys&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.95pt"></TD><TD STYLE="width: 27.9pt"><B>9.</B></TD><TD STYLE="text-align: justify"><B>Mr.&nbsp;A. van Herk</B>,
                                            a natural person residing at Lichtenauerlaan 30, (3062 ME) Rotterdam (<B>&ldquo;Van </B>Herk&rdquo;),</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">VHI B.V., THI B.V., VHPEI B.V., Penulata,
VH Management B.V., OG B.V., VH Holding B.V., Abchrys, and Van Herk, collectively &ldquo;<B>VHI et al</B>.&rdquo;, have elected domicile
at the office address of Houthoff located at Gustav Mahlerplein 50, (1082 MA) Amsterdam, from which office J.W. de Groot is handling
this case as counsel, foundations incorporated in Amsterdam and having their place of business at Hoogoorddreef 15, 1101 BA Amsterdam
(collectively &ldquo;<B>Aescap</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The defendant is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>ProQR Therapeutics N.V.</B>, a
public limited company incorporated in Leiden and having its place of business at Zernikedreef 9, 2333CK Leiden (&ldquo;<B>ProQR</B>&rdquo;),</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Attorney: R.J.G. de Haan,&nbsp;Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Attorney&rsquo;s email address: <U>richard.dehaan@aoshearman.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Potential interested parties in this
case are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>Aescap Life Sciences Foundation</B>,
<B>Aescap Genetics Foundation</B>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INTRODUCTION&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Central Issue&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reading Guide&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD>
    <TD COLSPAN="2"><B>PARTIES</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.2.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">VHI et al.</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aescap</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></TD>
    <TD COLSPAN="2"><B>VHI ET AL. ARE ADMISSIBLE IN ITS REQUEST FOR AN INQUIRY</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>4.</B></FONT></TD>
    <TD COLSPAN="2"><B>PROQR&rsquo;S GOVERNANCE STRUCTURE AND RELEVANT FACTS&nbsp;</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ProQR Board of Directors&#9;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The applicable governance regulations governing the
    Board&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR&rsquo;s Compensation Policy&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR&rsquo;s Disappointing Performance&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2024 Annual General Meeting, reappointment of Valerio
    and Shannon, and explicit commitment regarding board composition&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">VHI et al. raise objections in the run-up to and during
    the 2025 Annual General Meeting and the reappointments of De Boer and Shannon&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">VHI et al. sends a letter of objection and receives
    a brief response from ProQR</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.8.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequent attempts to persuade ProQR to make improvements&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.9.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2025 financial statements confirm the issues&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.10.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The 2026 General Meeting and the proposals to expand
    capital authority</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.11.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recent Capital Issuance Confirms Concerns of VHI et
    al.&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>5.</B></FONT></TD>
    <TD COLSPAN="2"><B>WELL-FOUNDED REASONS TO DOUBT THE CORRECT POLICY AND PROPER COURSE OF ACTION&nbsp;</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>34</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Introduction&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Framework&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">35</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.3.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shannon&rsquo;s reappointment violates the Corporate
    Governance Code, Board Rules, and commitments made</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Governance violations are linked to broader issues&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.5.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Disappointing performance</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.6.</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Compensation policy is not performance-based and runs
    counter to stakeholder interests&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6.</B></FONT></TD>
    <TD COLSPAN="2"><B>REQUEST TO ORDER AN INVESTIGATION&nbsp;&nbsp;</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>47</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7.</B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REQUEST TO TAKE IMMEDIATE RELIEF MEASURES&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>48</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>8.</B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>URGENCY&nbsp;</B></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>49</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>9.</B></FONT></TD>
    <TD COLSPAN="2"><B>PROQR&rsquo;S POSITION&nbsp;</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>49</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>10.</B></FONT></TD>
    <TD COLSPAN="2"><B>EVIDENCE AND OFFER OF EVIDENCE</B></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>49</B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>INTRODUCTION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>1.1.</B></TD><TD STYLE="text-align: justify"><B>Central Issue</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.1.</TD><TD STYLE="text-align: justify">VHI et al. request that Your Enterprise
                                            Chamber orders an investigation into the policies and conduct of ProQR, a Dutch public limited
                                            company listed on the NASDAQ that is active in the development of RNA therapies. In addition,
                                            VHI et al. requests that Your Enterprise Chamber, in the form of an immediate relief measure
                                            to appoint an independent non-executive director. These requests are based on the fact that
                                            ProQR&rsquo;s board of directors (the &ldquo;<B>Board</B>&rdquo;) systematically deviates
                                            from its own governance rules&nbsp;and the applicable governance standards without providing
                                            a sound justification for doing so, and fails to take corrective measures despite repeated,
                                            substantively substantiated objections raised by VHI et al. as long-term shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.2.</TD><TD STYLE="text-align: justify">The request by VHI et al. follows
                                            the systemic dysfunction of corporate governance within ProQR. A Board that has been in place
                                            for a long time and whose members are closely intertwined is deliberately deviating from
                                            its own governance rules&nbsp;and making decisions that primarily serve its own interests,
                                            without providing adequate accountability to the shareholders. The non-executive directors
                                            are failing in their supervisory duties. This is evident, among other things, in unlawful,
                                            inadequately justified reappointments, the lack of independent oversight, opaque compensation
                                            decisions, and the disregard of signals that these practices are incompatible with the interests
                                            of the company and its shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.3.</TD><TD STYLE="text-align: justify">At the same time, there has been no
                                            material progress in the company&rsquo;s operating and research results, while shareholders
                                            are systematically confronted with value destruction. The Board&rsquo;s failure to take corrective
                                            action, despite repeated and well-reasoned objections from VHI et al., lies at the core of
                                            the issues underlying this request.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.4.</TD><TD STYLE="text-align: justify">These issues manifested itself, among
                                            other things, at the 2025 general meeting, during which CEO Daniel de Boer (<B>&ldquo;De
                                            Boer</B>&rdquo;) and Chairman James Shannon (&ldquo;<B>Shannon</B>&rdquo;) were reappointed
                                            for a four-year term. This extended De Boer&rsquo;s cumulative term to seventeen years. Shannon&rsquo;s
                                            reappointment would extend his cumulative term to thirteen years and is therefore in violation
                                            of both ProQR&rsquo;s own board rules&nbsp;adopted on December&nbsp;2, 2025 (the <B>&ldquo;Board
                                            Rules</B>&rdquo;) and the Dutch Corporate Governance Code (the <B>&ldquo;Corporate Governance
                                            Code</B>&rdquo;), which prescribe a maximum cumulative term of twelve years. The Board has
                                            failed to properly inform the shareholders about this matter and to provide a reasoned explanation
                                            for the reappointment, even after the objections raised by VHI et al. in this regard.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.5.</TD><TD STYLE="text-align: justify">Shannon&rsquo;s reappointment is not
                                            an isolated incident. Prior to the 2026 Annual General Meeting on June&nbsp;3, 2026 (the
                                            &ldquo;<B>AGM26</B>&rdquo;), four of the nine board members had been in office for more than
                                            ten years. These lengthy terms of office, combined with substantial interconnections through
                                            concurrent positions and roles at other companies, increase the risk of groupthink and undermine
                                            the independence of oversight. The Corporate Governance Code and the Board Rules&nbsp;are
                                            specifically intended to counter this risk by prescribing maximum terms of office. ProQR
                                            does not comply with these provisions and lacks a sound succession plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.6.</TD><TD STYLE="text-align: justify">In addition, the Board has awarded
                                            itself substantial bonuses and stock and optionpackages, even though ProQR is structurally
                                            unprofitable and shareholder value continues to decline each year. Furthermore, it has not
                                            been made clear on the basis of which predetermined, specific criteria these rewards were
                                            granted. This course of action is incompatible with ProQR&rsquo;s own compensation policy
                                            and with the principles underlying the Corporate Governance Code. According to VHI et al.,
                                            this cannot be viewed in isolation from the composition and functioning of the remuneration
                                            committee (the CNC Committee), which is chaired by a non-independent chairperson (Heggie)
                                            and of which Shannon is also a member, even though his cumulative term of thirteen years
                                            violates the Corporate Governance Code and the Board Rules.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.7.</TD><TD STYLE="text-align: justify">These governance violations have had
                                            an impact on the company&rsquo;s performance. ProQR continues to lag behind its competitors
                                            in the field of RNA technology<SUP>1</SUP> and strategic reorientations by the Board have
                                            failed to achieve the intended objectives and meet the expectations that were created.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.8.</TD><TD STYLE="text-align: justify">VHI et al. have repeatedly and constructively
                                            brought their concerns to the attention of the Board. ProQR has systematically dismissed
                                            these objections without proper justification and refuses to take corrective action. The
                                            Board has thus failed to take responsibility for the functioning of its own governance. This
                                            picture was confirmed at the 2026 Annual General Meeting (AGM26): the Board has further strengthened
                                            its position at the expense of the shareholders and appears to wish to evade adequate oversight.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.1.9.</TD><TD STYLE="text-align: justify">VHI et al. therefore request that
                                            Your Enterprise Chamber (i)&nbsp;order an investigation into the policies and conduct at
                                            ProQR from May&nbsp;22, 2024, to the present, and (ii)&nbsp;as an immediate relief measure,
                                            to appoint an independent non-executive director, in order to strengthen oversight as quickly
                                            as possible.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>1.2.</B></TD><TD STYLE="text-align: justify"><B>Reading Guide</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.2.1.</TD><TD STYLE="text-align: justify">This petition is structured as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">a)</TD><TD STYLE="text-align: justify">Chapter 2, introduces the parties and their
                                            business operations and backgrounds;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">b)</TD><TD STYLE="text-align: justify">in Chapter 3, VHI et al. explain that their
                                            requests are admissible;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">c)</TD><TD STYLE="text-align: justify">in Chapter 4, VHI et al. set forth the factual
                                            background that gave rise to the present requests;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">d)</TD><TD STYLE="text-align: justify">In Chapter 5, VHI et al. explain that there
                                            are valid reasons to doubt the correctness of the policy and the proper conduct of affairs;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">e)</TD><TD STYLE="text-align: justify">In Chapter 6, VHI et al. request that an
                                            investigation be ordered;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">f)</TD><TD STYLE="text-align: justify">In Chapter 7, VHI et al. explain the immediate
                                            relief measures they are seeking;</TD></TR></TABLE>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">g)</TD><TD STYLE="text-align: justify">Chapter 8 discusses the urgency of the requests;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>1</SUP></TD><TD STYLE="text-align: justify">RNA stands for
                                            <I>ribonucleic </I>acid and is an important natural molecule found in virtually all living
                                            organisms, including humans and animals. RNA plays a central role in converting genetic information
                                            from DNA into proteins necessary for cellular function. RNA therapy is a treatment in which
                                            RNA is used or modified to correct disease processes. Among other things, this therapy can
                                            be used to address the underlying cause of certain hereditary diseases.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">h)</TD><TD STYLE="text-align: justify">Chapter 9 explains ProQR&rsquo;s position;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">i)</TD><TD STYLE="text-align: justify">Chapter 10 discusses the evidence and the
                                            offer of evidence; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">j)</TD><TD STYLE="text-align: justify">VHI et al. concludes that the requests are
                                            granted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.2.2.</TD><TD STYLE="text-align: justify">VHI et al. were unable to limit the
                                            petition to the 35-page&nbsp;limit prescribed by the rules&nbsp;of procedure. Given the duration
                                            and development of the dispute between the parties, VHI et al. considered it important to
                                            provide as complete and up to date as possible an overview of the facts, circumstances, and
                                            objections underlying the petition. Another factor is that the dispute in question has been
                                            ongoing since 2024 and that various developments have occurred during that period that are
                                            closely related to the issues raised in this petition. VHI et al. have included these developments
                                            in the petition in order to provide the Enterprise Chamber with a complete picture of the
                                            relevant facts and circumstances. This has inevitably resulted in the petition exceeding
                                            the prescribed maximum length.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>PARTIES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>2.1.</B></TD><TD STYLE="text-align: justify"><B>ProQR</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.1.1.</TD><TD STYLE="text-align: justify">ProQR is a biotechnology company focused
                                            on developing RNA therapies for both rare and common diseases.<SUP>2</SUP> ProQR is a Dutch
                                            public limited company and was founded on February&nbsp;3, 2012, by Mr.&nbsp;Daniel de Boer
                                            (&ldquo;<B>De Boer</B>&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.1.2.</TD><TD STYLE="text-align: justify">ProQR&rsquo;s shares have been traded
                                            on the Nasdaq stock exchange in New York, United States, since September&nbsp;23, 2014. ProQR
                                            conducts its business through various subsidiaries. Please refer to the organizational chart
                                            of ProQR and its subsidiaries included in Appendix 2.<SUP>3</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.1.3.</TD><TD STYLE="text-align: justify">ProQR does not have a works council,
                                            nor is it a company subject to the structural regime.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.1.4.</TD><TD STYLE="text-align: justify">ProQR is not the only company active
                                            in the development of RNA technology. For example, the publicly traded companies Wave Life
                                            Sciences Ltd. (Nasdaq: WVE) (&ldquo;<B>Wave</B>&rdquo;) and Korro Bio Inc. (Nasdaq: KRRO)
                                            (&ldquo;<B>Korro</B>&rdquo;), as well as the privately held company AIRNA,&nbsp;Inc. (&ldquo;<B>AIRNA</B>&rdquo;),
                                            are also active in the development of RNA technology.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>2.2.</B></TD><TD STYLE="text-align: justify"><B>VHI et al.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.2.1.</TD><TD STYLE="text-align: justify">VHI et al. is a group of (legal) entities
                                            and individuals (ultimately) owned by Van Herk.<SUP>4</SUP> VHI et al. invests in both publicly
                                            traded and privately held companies. VHI et al.&rsquo;s investments are long-term in nature.
                                            VHI et al. is known as an engaged investor. As an engaged, long-term investor, VHI et al.
                                            has built up a solid track record. VHI and others have made substantial capital investments
                                            in the pharmaceutical industry. Some of these companies have been acquired by major pharmaceutical
                                            firms, such as Crucell by Johnson&nbsp;&amp; Johnson, Ablynx by Sanofi, and Nightbalance
                                            by Philips. Some of its investments are still operating independently, such as Lakefront
                                            Therapeutics (formerly Galapagos), Zealand Pharma, SkylineDx, and Sairopa.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            1</U></B>: ProQR extract dated July 27, 2026.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>3</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            2</U></B>: ProQR organizational chart.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">4</FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            3</U></B>: Excerpts from VHI et al. dated July 27, 2026. Van Herk is (i) the holder of all
                                            share certificates issued by Penulata and Abchrys, (ii) the sole board member of Penulata
                                            and Abchrys, and (iii) the sole director of VH Management B.V., OG B.V., and VH olding B.V.
                                            Penulata owns virtually all issued and outstanding shares of VHPEI B.V. VHPEI B.V. is the
                                            sole shareholder of THI B.V. THI B.V. is the sole shareholder of VHI B.V. Abchrys holds virtually
                                            all of the issued and outstanding shares of VH Holding B.V. VH Holding B.V. is the sole shareholder
                                            of OG B.V. OG B.V. is the sole shareholder of VH Management B.V. VH Management B.V. is the
                                            sole director of VHI B.V., THI B.V., and VHPEI B.V.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.2.2.</TD><TD STYLE="text-align: justify">VHI et al. is an experienced investor
                                            in the life sciences and has been involved with a wide range of biotech companies for twenty
                                            years. As a result of these investments, VHI et al. has extensive experience with and knowledge
                                            of the processes within biotech companies and understands the dynamics of this market.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.2.3.</TD><TD STYLE="text-align: justify">VHI et al. has been a shareholder
                                            of ProQR since 2023. On September&nbsp;13, 2023, VHI et al. reported a 5.3% stake in ProQR&rsquo;s
                                            outstanding shares to the U.S. Securities and Exchange Commission (SEC).<SUP>5</SUP> By June&nbsp;26,
                                            2026, VHI et al. had further increased this shareholding to 14.6%. As a result of ProQR&rsquo;s
                                            recent capital issuance described below in &sect; 4.11, its stake has since been diluted
                                            to approximately 10.9%.<SUP>6</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.2.4.</TD><TD STYLE="text-align: justify">VHI et al. have come on board as long-term
                                            investors because they see opportunities for ProQR, particularly in light of the expectations
                                            and outlook outlined by ProQR regarding (i)&nbsp;the collaboration with the U.S. multinational
                                            pharmaceutical company Eli Lilly and Company (<B>&ldquo;Eli Lilly</B>&rdquo;),<SUP>7</SUP>
                                            (ii)&nbsp;the announced new <I>business development </I>partnerships with companies, and
                                            (iii)&nbsp;the development of RNA technology, including the path to clinical <I>trials</I>
                                            (see &sect; 4.4 below).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>2.3.</B></TD><TD STYLE="text-align: justify"><B>Aescap</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.3.1.</TD><TD STYLE="text-align: justify">Aescap is a fund that invests in publicly
                                            traded biotech companies.<SUP>8</SUP> Aescap is managed by IQ EQ Custody B.V., a fund manager.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.3.2.</TD><TD STYLE="text-align: justify">Aescap is also a shareholder of ProQR
                                            and, according to its most recent filing with the SEC, holds a 5.2% stake.<SUP>9</SUP> Like
                                            VHI, Aescap is a long-term investor in ProQR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>VHI et al. ARE ADMISSIBLE IN
                                            ITS REQUEST FOR AN INQUIRY</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.1.1.</TD><TD STYLE="text-align: justify">VHI et al. have standing in their
                                            request for an inquiry because (i)&nbsp;VHI et al. are authorized to file this request for
                                            an inquiry pursuant to Article&nbsp;2:346 of the Dutch Civil Code, and (ii)&nbsp;there are
                                            no circumstances as referred to in Article&nbsp;2:349 of the Dutch Civil Code on the basis
                                            of which VHI et al. would (or could) be deemed to lack standing in their request. ProQR&rsquo;s
                                            articles of association do not contain any provision to the contrary regarding the right
                                            to file a petition for an inquiry.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.1.2.</TD><TD STYLE="text-align: justify"><U>First</U>, VHI et al. are authorized
                                            to file the present request for an inquiry pursuant to Article&nbsp;2:346(1)(b)&nbsp;of the
                                            Dutch Civil Code. According to the prospectus accompanying its most recent share offering,
                                            ProQR&rsquo;s issued capital amounts to EUR 5,617,000 (rounded). VHI et al. hold 10.9% of
                                            ProQR&rsquo;s capital and thus hold a sufficiently large shareholding to file a request for
                                            an inquiry (Article&nbsp;2:346(1)(b)&nbsp;of the Dutch Civil Code).<SUP>10</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">3.1.3.</TD><TD STYLE="text-align: justify"><U>Second</U>, VHI et al. have (on
                                            multiple occasions) communicated their objections to ProQR&rsquo;s policies and the conduct
                                            of its affairs to ProQR. After it became clear that ProQR did not intend to take any measures
                                            in response to the objections raised by VHI et al., VHI et al. sent a formal letter of objection
                                            to the Board on August&nbsp;18, 2025, in accordance with Article&nbsp;2:349(1)&nbsp;of the
                                            Dutch Civil Code (the &ldquo;<B>Letter of Objection</B>&rdquo;).<SUP>11</SUP> On August&nbsp;29,
                                            2025, ProQR responded to the Letter of Objection and made it clear that it was not (willing
                                            to) take any measures in response to the objections raised by VHI et al.<SUP>12</SUP> VHI
                                            et al. subsequently remained in ongoing dialogue with ProQR regarding the objections raised
                                            in the Objection Letter and, over a period of several months, attempted to persuade ProQR
                                            to comply with its governance obligations (see &sect; 4.8 in this regard). In that context,
                                            VHI et al. also commented on subsequent developments that confirmed the objections raised
                                            in the Objection Letter. To date, ProQR has not taken adequate, satisfactory measures to
                                            address these objections, even though it has had ample opportunity to do so.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>5</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            4</U></B>: Form SC 13G ProQR Therapeutics N.V. dated September 13, 2023, p. 2.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>6</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            5</U></B>: Form SC 13D/A VHI et al. dated June 30, 2026, p. 2.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>7</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">The
                                            first pharmaceutical company to have a market capitalization of more than USD 1 trillion</FONT>.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>8</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            6</U></B>: Excerpt from Aescap dated July 27, 2026.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>9</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            7</U></B>: Form SC 13G, Aescap, dated July 15, 2026.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>10</SUP></FONT></TD><TD STYLE="text-align: justify">See
                                            Exhibit 5 (Form SC 13D/A VHI et al. dated July 30, 2026), p. 2.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>11</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            8</U></B>: Letter of Objection dated August 18, 2025.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>12</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            9</U></B>: Letter from ProQR to VHI et al. dated August 29, 2025.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>PROQR&rsquo;S GOVERNANCE STRUCTURE
                                            AND RELEVANT FACTS</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.1.</B></TD><TD STYLE="text-align: justify"><B>The Board of Directors of
                                            ProQR</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.1.</TD><TD STYLE="text-align: justify">At the general meeting of shareholders
                                            held on May&nbsp;22, 2024 (the &ldquo;<B>AGM24</B>&rdquo;), ProQR&rsquo;s shareholders approved
                                            the proposal to transition from a <I>two-tier </I>board structure to a <I>one-tier </I>board
                                            structure. Prior to this change, the Board consisted of two directors and six supervisory
                                            board members.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.2.</TD><TD STYLE="text-align: justify">On May&nbsp;23, 2024, the day following
                                            the Annual General Meeting (AGM24), ProQR adopted a <I>one-tier </I>board structure. Five
                                            of the current executive and non-executive directors had already served as directors or supervisory
                                            board members at ProQR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.3.</TD><TD STYLE="text-align: justify">The current Board consists of eight
                                            members: two executive directors and six non-executive directors:<SUP>13</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 91%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.75in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; text-align: center; padding: 2pt 5.55pt; width: 10%; border: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>#</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding: 2pt 5.55pt; width: 25%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding: 2pt 5.55pt; width: 25%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding: 2pt 5.55pt; width: 15%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Appointment
    Date</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding: 2pt 5.55pt; width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>End
    of<BR>
    current <BR>
    term</B></FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; padding: 2pt 5.55pt; width: 13%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    <SUP>14</SUP></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Executive
    Directors</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">De
    Boer</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEO</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February&nbsp;21,
    2012</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2029</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Gerard
    Platenburg</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Scientific Officer</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;22,
    2024</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2028</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Non-executive
    directors</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shannon</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; padding: 2pt 5.55pt; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Executive
    Director and Chair</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;21,
    2016</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2029</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms.&nbsp;Theresa
    Heggie (&ldquo;<B>Heggie</B>&rdquo;)</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-Executive
    Director</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;18,
    2023</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Bart
    Filius</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-executive
    director</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;21,
    2019</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms.
    Bego&ntilde;a Carre&ntilde;o</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-executive
    director</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;18,
    2023</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Martin
    Maier</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-executive
    director</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;22,
    2024</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2028</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4
    years</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 5.55pt; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms.&nbsp;Lykke
    Hinsch Gylvin (&ldquo;<B>Gylvin</B>&rdquo;)</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-executive
    director</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">June&nbsp;2,
    2026</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2030</FONT></TD>
    <TD STYLE="padding: 2pt 5.55pt; border-bottom: black 1pt solid; border-right: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4
    years</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>13</SUP></FONT></TD><TD STYLE="text-align: justify">The
                                            &ldquo;Appointment Date&rdquo; for both executive and non-executive directors takes into
                                            account the period during which some of the directors also held statutory positions at ProQR
                                            during the time of ProQR&rsquo;s two-tier governance structure. The fact that the Board has
                                            been restructured from a two-tier governance structure to a one-tier governance structure
                                            does not affect the date of appointment.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>14</SUP></FONT></TD><TD STYLE="text-align: justify">The
                                            total refers to the number of years following the end of the current term of office.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.4.</TD><TD STYLE="text-align: justify">Prior to the General Meeting of 2026,
                                            Mr.&nbsp;Dinko Valerio (&ldquo;<B>Valerio</B>&rdquo;) and Ms.&nbsp;Alison Lawton (&ldquo;<B>Lawton</B>&rdquo;)
                                            served on the Board in place of Gylvin. In that composition, three of the seven non-executive
                                            directors had reached or exceeded the maximum cumulative term of twelve years upon the expiration
                                            of their terms, as prescribed in the Board Rules&nbsp;and the Corporate Governance Code.
                                            This composition, with three non-executive directors who had served for too long, had been
                                            the status quo for years.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.5.</TD><TD STYLE="text-align: justify">De Boer, Shannon, and - prior to the
                                            2026 Annual General Meeting - Valerio and Lawton, with their long tenure and leadership roles,
                                            form an influential group of directors. They held key positions within the Board. Until June&nbsp;3,
                                            2025, Mr.&nbsp;Rene Beukema (&ldquo;<B>Beukema</B>&rdquo;), in his capacity as a statutory
                                            director, also belonged to this key group. Beukema served as a director of ProQR for a total
                                            of approximately seven years (as an executive) director of ProQR: both between September&nbsp;23,
                                            2014, and January&nbsp;1, 2019, and between June&nbsp;30, 2022, and June&nbsp;3, 2025. Subsequently,
                                            Beukema has been involved with ProQR as a strategic advisor. VHI et al. are unaware whether
                                            Beukema still holds that position at the time of filing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.6.</TD><TD STYLE="text-align: justify">De Boer and Shannon form the core
                                            group within the Board, given their long tenure and leadership roles on the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.7.</TD><TD STYLE="text-align: justify">Furthermore, there is clear administrative
                                            and business interdependence within the Board due to overlapping roles and shared projects
                                            between De Boer, Shannon, and, at the time, Valerio and Beukema. The table below shows that
                                            there has been (recurring) collaboration - both bilaterally and as a group - in previous
                                            or other roles and companies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 91%; border-collapse: collapse; margin-left: 0.75in">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 40%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Organization</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 12%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Valerio</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 12%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>De
    Boer</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 12%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lawton</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 12%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shannon</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; width: 12%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Beukema</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2013
    - 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xinvento
    B.V.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021
    - 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021
    - 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021
    - 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021
    - 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Crucell
    N.V.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1999
    - 2004</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1999
    - 2012</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hybridize
    Therapeutics B.V.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leyden
    Laboratories B.V.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Frame
    Therapeutics</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2018
    &ndash; 2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2018
    &ndash; 2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2018
    - 2022</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2019
    - 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">myTomorrows
    (Impatients N.V.)</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2016
    - present</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2012
    - present</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aescap</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2004
    - 2016</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2011
    - 2012</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amylon
    Therapeutics B.V.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2017
    - 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2017
    &ndash; 2023</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; text-align: center; padding-top: 2pt; border-bottom: black 1pt solid; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ndash;</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.8.</TD><TD STYLE="text-align: justify">The long-standing occupancy of key
                                            positions and the intertwined personal and professional networks indicate the formation of
                                            a close-knit circle within the Board. Such close ties among board members can foster cooperation,
                                            but they also entail risks. It increases the likelihood of groupthink and can lead to a culture
                                            in which members cover for one another in the event of mistakes or disappointing performance.
                                            This comes at the expense of critical review, oversight, and supervision of board members
                                            and undermines the desired and necessary independence within the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.1.9.</TD><TD STYLE="text-align: justify">This interdependence among board members
                                            is confirmed by a benchmarking study conducted by Accuracy, an independent consulting firm
                                            (the <B>&ldquo;Accuracy Report</B>&rdquo;).<SUP>15</SUP> Commissioned by VHI et al., Accuracy
                                            compared ProQR with peers in the RNA sector. The Accuracy Report shows that the Board, both
                                            up to and after the 26th General Meeting (see &sect; 4.10), is characterized by a relatively
                                            high degree of interdependence through external organizations. Accuracy concludes that this
                                            degree of interdependence increases the risk of groupthink, may limit the diversity of perspectives,
                                            and may weaken critical judgment. This, in turn, may impair the Board&rsquo;s ability to
                                            safeguard, prioritize, and effectively achieve ProQR&rsquo;s strategic objectives. This conclusion
                                            is supported by ProQR&rsquo;s underperformance relative to its relevant competitors (see
                                            &sect; 4.4).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.2.</B></TD><TD STYLE="text-align: justify"><B>The Applicable Governance
                                            Regulations Governing the Board</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.1.</TD><TD STYLE="text-align: justify">ProQR and its Board are subject to
                                            the statutory provisions governing Dutch public limited companies, as well as the provisions
                                            of ProQR&rsquo;s Articles of Association, as last amended on June&nbsp;2, 2026 (the <B>&ldquo;Articles
                                            of Association</B>&rdquo;).<SUP>16</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.2.</TD><TD STYLE="text-align: justify">In accordance with the Articles of
                                            Association, the Board of Directors has adopted the Board Rules.<SUP>17</SUP> The Articles
                                            of Association stipulate that the Board of Directors must observe and comply with the Board
                                            Rules&nbsp;in the performance of its duties.<SUP>18</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.3.</TD><TD STYLE="text-align: justify">Finally, the Corporate Governance
                                            Code applies to ProQR as a publicly traded Dutch public limited company based on the &ldquo;comply
                                            or explain&rdquo; principle.<SUP>19</SUP> The Board of Directors must report to the general
                                            meeting on compliance with the Corporate Governance Code and must provide a substantive and
                                            transparent explanation of any deviations in a separate section of the management report
                                            or on the website.<SUP>20</SUP> The Corporate Governance Code sets forth explicit requirements
                                            for such an explanation. In particular, it is required that, in addition to providing a substantive
                                            and clear explanation for any deviation from the Corporate Governance Code, the Board describe,
                                            where applicable, how the objective of the principle from which it is deviating is nonetheless
                                            achieved, or clarify how the alternative contributes to sound corporate governance of the
                                            company (as prescribed by the Corporate Governance Code). The Board is required to provide
                                            a carefully reasoned explanation of why it is deviating from a provision of the Corporate
                                            Governance Code.<SUP>21</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>15</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Exhibit
                                            10</U></B>:</FONT> Accuracy Report dated July 7, 2026, p. 10</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>16</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Exhibit
                                            11</U></B>:</FONT> ProQR Articles of Incorporation dated June 2, 2026.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>17</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>Exhibit
                                            12</U></B>:</FONT> ProQR Board Rules dated December 2, 2025.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>18</SUP></FONT></TD><TD STYLE="text-align: justify">See
                                            Exhibit 11 (ProQR Articles of Incorporation dated June 2, 2026), Article 17.2.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>19</SUP></FONT></TD><TD STYLE="text-align: justify"><B><U>Exhibit
                                            13</U></B>: Dutch Corporate Governance Code dated March 2025. The Corporate Governance Code
                                            is intended for companies with a two-tier governance structure, but has also been declared
                                            applicable to companies with a one-tier governance structure. The Corporate Governance Code
                                            confirms that provisions in the Corporate Governance Code relating to supervisory board members
                                            apply to non-executive directors; see the commentary on best practice provision 5.1. This
                                            petition therefore refers only to the board, directors, and/or non-executive directors in
                                            the context of the Corporate Governance Code.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>20</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;13
                                            (Dutch Corporate Governance Code dated March&nbsp;2025), p. 9.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>21</SUP></TD><TD STYLE="text-align: justify">C.D.J. Bulten,
                                            M.P. Nieuwe Weme, G.P. Oosterhoff&nbsp;&amp; P.H.M. Broere (eds.), <I>Handbook of Inquiry
                                            Law</I>, Deventer: Wolters Kluwer 2022, no. 18.2.10.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.4.</TD><TD STYLE="text-align: justify">Based on this governance framework,
                                            the Board must focus on long-term value creation, ensuring that stakeholders can trust that
                                            their interests are carefully taken into account. In this regard, good corporate governance
                                            and effective oversight are essential prerequisites for stakeholders&rsquo; trust in the
                                            Board and the oversight of its activities. Good corporate governance and effective oversight
                                            include, among other things, acting with integrity and transparency by the Board and accountability
                                            for oversight by the non-executive directors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.5.</TD><TD STYLE="text-align: justify">VHI et al. set forth below, by topic,
                                            the provisions relevant to this request for information from the Articles of Association,
                                            the Board Rules, and the Corporate Governance Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Board Composition and Terms of
Office</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.6.</TD><TD STYLE="text-align: justify">Article&nbsp;15.1 of the Articles
                                            of Incorporation stipulates that the Board of Directors determines the number of directors.
                                            The Board Rules&nbsp;state that the Board of Directors consists of (i)&nbsp;one or more executive
                                            directors and (ii)&nbsp;two or more non-executive directors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.7.</TD><TD STYLE="text-align: justify">Furthermore, the Articles of Association
                                            and the Board Rules&nbsp;stipulate that an executive director is appointed for a term of
                                            up to four years.<SUP>22</SUP> With regard to non-executive directors, Article&nbsp;3.5 of
                                            the Board Rules&nbsp;provides that they are appointed for a term of four years, with the
                                            option of a one-time reappointment for another term of four years. Subsequently, a non-executive
                                            director may be reappointed for a term of two years, which may be extended once for a maximum
                                            of two years. Thus, the maximum cumulative term of office for a non-executive director is
                                            twelve years. In addition, Article&nbsp;3.5 of the Board Rules&nbsp;requires that the reasons
                                            for a reappointment after a cumulative term of eight years be included in the report of the
                                            non-executive directors in the annual financial statements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.8.</TD><TD STYLE="text-align: justify">The aforementioned provisions of the
                                            Articles of Association and the Board Rules&nbsp;are consistent with best practice provisions
                                            2.2.1 and 2.2.2 of the Corporate Governance Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>22</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;11
                                            (ProQR Articles of Incorporation dated June&nbsp;2, 2026), Article&nbsp;15.1, and Exhibit&nbsp;12
                                            (ProQR Board Rules&nbsp;dated December&nbsp;2, 2025), Article&nbsp;3.5.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Principle 2.1 of the Corporate Governance
Code explains that a diverse board composition contributes to (i)&nbsp;effective management and oversight and (ii)&nbsp;countering potential
groupthink.<SUP>23</SUP> In this context, it is stipulated that the maximum term of office for a non-executive director is shorter than
that of an executive director, so that the supervisory directors maintain sufficient distance and a fresh perspective with respect to
the Board.<SUP>24</SUP> The basic principle is therefore a maximum cumulative term of eight years.<SUP>25</SUP> After that, a non-executive
director may be reappointed for a maximum of two additional two-year terms. The reasons for reappointment after eight years must be explained
in the report of the non-executive directors. In the event of reappointment, according to the explanatory notes to best practice provision
2.2.2, a critical assessment must be made (among other things) of whether the non-executive director in question is exercising oversight
with appropriate independence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Rotation Schedule</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.9.</TD><TD STYLE="text-align: justify">Pursuant to Article&nbsp;15.2 of the
                                            Articles of Association, ProQR is required to maintain a retirement schedule for directors.<SUP>26</SUP>
                                            This schedule must be included in the Board Rules. In that context, the Board Rules&nbsp;stipulate
                                            that this schedule (or: <I>rotation schedule</I>) must also be available on ProQR&rsquo;s
                                            website: <SUP>27</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&quot;As a principle, each Director
shall retire in accordance with a rotation schedule, which shall be publicly available on the Website.&quot;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.10.</TD><TD STYLE="text-align: justify">The Corporate Governance Code also
                                            stipulates in best practice provision 2.2.4 that non-executive directors must have a sound
                                            plan for the succession of executive and non-executive directors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.11.</TD><TD STYLE="text-align: justify">Below is the schedule for the composition
                                            of the board as most recently published on ProQR&rsquo;s website:<SUP>28</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="tm2621582d1_ex99-2img01.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>23</SUP></TD><TD STYLE="text-align: justify">See the explanatory
                                            notes to best practice provision 2.1 of Exhibit&nbsp;13 (Dutch Corporate Governance Code
                                            dated March&nbsp;2025).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>24</SUP></TD><TD STYLE="text-align: justify">R.H. Kleipool,
                                            C. Nagtegaal&nbsp;&amp; M. van Olffen, <I>Commentary&nbsp;&amp; Context &ndash; Corporate
                                            Governance Code</I>, Deventer: Boom Juridisch 2023, commentary on best practice provision
                                            2.2.2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>25</SUP></TD><TD STYLE="text-align: justify">See the commentary
                                            on Best Practice Provision 2.2.2 in Exhibit&nbsp;13 (Dutch Corporate Governance Code dated
                                            March&nbsp;2025).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>26</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;11
                                            (ProQR Articles of Incorporation dated June&nbsp;2, 2026), Article&nbsp;15.2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>27</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;12
                                            (ProQR Board Rules&nbsp;dated December&nbsp;2, 2025), Article&nbsp;3.6.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>28</SUP></TD><TD STYLE="text-align: justify">See https://www.proqr.com/files/2026-06/20260602-PNV-Board-Rotation-Schedule.pdf
                                            (last accessed on July&nbsp;27, 2026).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.12.</TD><TD STYLE="text-align: justify">This schedule specifies the term
                                            during which the directors will remain in office or the term during which they will be reappointed.
                                            ProQR has not published a succession plan for its directors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Role of Non-Executive Directors</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.13.</TD><TD STYLE="text-align: justify">Pursuant to the Board Rules&nbsp;and
                                            the Corporate Governance Code, ProQR&rsquo;s non-executive directors have a special supervisory
                                            role with regard to the composition of the board and the rotation of its members.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.14.</TD><TD STYLE="text-align: justify">The Corporate Governance Code stipulates
                                            in best practice provisions 2.2.6 and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">2.2.7 that non-executive directors
must evaluate the performance of both executive and non-executive directors and the composition of the Board at least once a year. These
evaluations serve as a critical assessment of the Board&rsquo;s performance and form the basis for (re)appointment decisions. The report
of the non-executive directors must include the main findings and conclusions of the evaluations, as well as the measures that have been
taken or are planned as a result.<SUP>29</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.15.</TD><TD STYLE="text-align: justify">The Board Rules&nbsp;contain a similar
                                            provision and require that the non-executive directors evaluate their own performance, that
                                            of the committees, the individual non-executive directors, and the Board as a whole:<SUP>30</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>The Non-Executive Directors
shall, without the Executive Directors being present, <U>evaluate their own functioning, the functioning of the Committees, and that
of the individual Non-Executive Directors </U>(including an evaluation of the Board Profile and the induction, education, and training
program) and discuss the conclusions that must be drawn on that basis. The desired profile, composition, and competence of the Board
shall also be discussed. Moreover, <U>the Non-Executive Directors shall, without the Executive Directors being present, evaluate the
functioning of the Board as a whole </U>and discuss the conclusions that must be drawn on that basis thereof</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.16.</TD><TD STYLE="text-align: justify">In line with the foregoing, the Board
                                            Rules&nbsp;assign a special role to the Chairman of the Board, Shannon. Pursuant to Article&nbsp;6.1
                                            of the Board Rules, the Chairman shall ensure the proper functioning of the Board in the
                                            broadest sense of the term:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&quot;The Chairman of the Board shall
ensure the proper functioning of the Board and the Board Committees, and shall act on behalf of the Directors as the main contact for</I>.
<I>shareholders of the Company regarding the performance by the Directors of their duties. &quot;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.17.</TD><TD STYLE="text-align: justify">The ProQR website does not include
                                            a report demonstrating that the non-executive directors have fulfilled their obligation to
                                            conduct an evaluation. However, ProQR&rsquo;s most recent management report does state that
                                            the non-executive directors have evaluated the Board&rsquo;s performance:<SUP>31</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>29</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;13
                                            (Dutch Corporate Governance Code dated March&nbsp;2025), best practice provision 2.2.8.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>30</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;12
                                            (ProQR Board Rules&nbsp;dated December&nbsp;2, 2025), Article&nbsp;5.3.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>31</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;14</U></B>:
                                            ProQR Annual Report 2024, p. 25. See also <B><U>Exhibit&nbsp;15</U></B>: ProQR Annual Report
                                            2025, pp. 25&ndash;26.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>The Board discussed its functioning
and competencies and concluded that its functioning and competencies are appropriate for the current phase of the Company</I>.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.18.</TD><TD STYLE="text-align: justify">It is unclear how this evaluation
                                            is conducted and on what basis the conclusions are drawn. The standard phrase, which is included
                                            unchanged in the annual financial statements every year, suggests that no actual critical
                                            evaluation takes place and does not meet the requirements set by the Corporate Governance
                                            Code for a meaningful annual evaluation of the performance of the Board and its individual
                                            members.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.19.</TD><TD STYLE="text-align: justify">It is telling that the same conclusion
                                            is drawn regardless of the company&rsquo;s disappointing performance, the explicitly expressed
                                            objections of shareholders, and the structural governance violations that specifically relate
                                            to the (lack of) critical oversight of the Board. The lack of a transparent and properly
                                            structured evaluation process is all the more concerning given the biotechnology sector in
                                            which ProQR operates. After all, development-oriented biotechnology companies are characterized
                                            by high cash burn, a strong dependence on external financing, and a limited financing horizon.
                                            ProQR itself has acknowledged that its cash reserves are expected to last only until mid-2027
                                            and that no substantial revenue is expected in the short term. It is precisely under these
                                            circumstances that critical and independent oversight of the Board&rsquo;s performance is
                                            of essential importance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.20.</TD><TD STYLE="text-align: justify">In such a financially vulnerable
                                            position, effective, critical, and independent oversight is essential to ensure that strategic
                                            decisions - including entering into partnerships, allocating R&amp;D resources, and making
                                            capital expenditures - are truly in the best interests of the company and its stakeholders.
                                            Precisely at this stage, when dependence on the Board is high, governance must function effectively.
                                            The shortcomings in oversight identified above therefore strike at the heart of ProQR&rsquo;s
                                            responsible and ethical business operations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Communication to and with Shareholders</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.21.</TD><TD STYLE="text-align: justify">ProQR must ensure that it provides
                                            adequate information and updates to its shareholders. This requirement stems from both Article&nbsp;2:9
                                            of the Dutch Civil Code and Principle 4.2 of the Corporate Governance Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.2.22.</TD><TD STYLE="text-align: justify">Pursuant to best practice provision
                                            4.2.2 of the Corporate Governance Code, ProQR must formulate a general policy for communicating
                                            with its shareholders. ProQR deviates from this best practice provision and states that it
                                            has not drawn up such a policy because it believes this is already covered by its regular
                                            process for disclosing information.<SUP>32</SUP> It is unclear exactly what this process
                                            entails.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>32</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025), p. 36: <I>&ldquo;Best practice provision 4.2.2 stipulates that
                                            an outline policy on bilateral contacts with shareholders shall be formulated and published
                                            on the Company&rsquo;s website. The Company has not formulated such a policy as it believes
                                            this is already covered by our regular process for public disclosure of information</I>.&rdquo;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.3.</B></TD><TD STYLE="text-align: justify"><B>ProQR&rsquo;s Compensation
                                            Policy</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.1.</TD><TD STYLE="text-align: justify">ProQR has a policy regarding the compensation
                                            of its directors, consisting of the <I>&ldquo;Board Compensation </I>Policy&rdquo; and the
                                            <I>&ldquo;Equity Incentive Plan&rdquo; </I>(the &ldquo;<B>Compensation Policy</B>&rdquo;).<SUP>33</SUP>
                                            The Compensation Policy was most recently adopted by the general meeting held on June&nbsp;30,
                                            2022, before VHI et al. became shareholders of ProQR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.2.</TD><TD STYLE="text-align: justify">To implement the Compensation Policy,
                                            select and recommend new members to the Board, and develop the Board Rules, ProQR has established
                                            the <I>&ldquo;Compensation, Nominating, and Corporate Governance </I>Committee&rdquo; (the
                                            &ldquo;<B>CNC Committee</B>&rdquo;). The CNC Committee must act in accordance with regulations
                                            adopted by the Board (the &ldquo;<B>CNC Regulations</B>&rdquo;).<SUP>34</SUP> Since the AGM26,
                                            the CNC Committee has consisted of Heggie (chairperson), Shannon, and Bart Filius. Prior
                                            to the AGM26, the CNC Committee consisted of Heggie, Valerio, and Shannon.<SUP>35</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.3.</TD><TD STYLE="text-align: justify">Although the composition of the CNC
                                            Committee does not, strictly speaking, violate the Corporate Governance Code, this composition
                                            is particularly problematic both prior to and after the 2026 General Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.4.</TD><TD STYLE="text-align: justify">First, Heggie, the chair of the CNC
                                            Committee, is not independent within the meaning of the Corporate Governance Code. In the
                                            five years prior to her appointment, she worked at ProQR as Chief Operating Officer and Chief
                                            Commercial Officer. She was part of the management team and was therefore very close to the
                                            Board, although she herself was not a statutory director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.5.</TD><TD STYLE="text-align: justify">Second, Shannon has been a member
                                            of the CNC Committee for quite some time, even though his cumulative term of thirteen years
                                            violates the Board Rules&nbsp;and the Corporate Governance Code. Prior to the Annual General
                                            Meeting of 2026, Valerio was also a member with a cumulative term of twelve years. For years,
                                            the CNC Committee thus consisted of three members, none of whom was, in practice, unquestionably
                                            independent. This entails an increased risk of groupthink and insufficient independence (see
                                            &sect; 4.1.8 and 4.2.8).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.6.</TD><TD STYLE="text-align: justify">Valerio&rsquo;s departure as of the
                                            AGM26 did not resolve this issue: the CNC Committee is still chaired by a non-independent
                                            director and includes Shannon, a director whose most recent reappointment is in violation
                                            of ProQR&rsquo;s governance principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.7.</TD><TD STYLE="text-align: justify">Against this backdrop, it is telling
                                            that ProQR frequently deviates from the Corporate Governance Code, particularly with regard
                                            to compensation (see &sect; 4.3.12 and 4.3.18), without providing a sound justification as
                                            to why these deviations would be in the interest of ProQR and its stakeholders, nor explaining
                                            how the purpose and intent of the relevant best practice provisions are achieved in an alternative
                                            manner.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>33</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;11
                                            (ProQR Articles of Incorporation dated June&nbsp;2, 2026), Article&nbsp;16.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>34</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;16</U></B>:
                                            ProQR Compensation, Nominating, and Corporate Governance Committee Charter dated December&nbsp;2,
                                            2025, p. 3.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>35</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14
                                            (ProQR 2024 Annual Report), p. 26. See also Exhibit&nbsp;15 (ProQR 2025 Annual Report), p.
                                            29.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.8.</TD><TD STYLE="text-align: justify">Furthermore, the composition of the
                                            CNC Committee has been in violation of the NASDAQ Rules&nbsp;and the CNC Bylaws for many
                                            years.<SUP>36</SUP> Both NASDAQ Rule&nbsp;5605(d)(2)&nbsp;and Section&nbsp;1 of the CNC Bylaws
                                            stipulate that every member of a compensation committee must be independent. Since Heggie
                                            was an employee of ProQR until October&nbsp;2022, she was not independent within the meaning
                                            of NASDAQ Rule&nbsp;5605(a)(2)(A)&nbsp;and the CNC Bylaws from the time of her appointment
                                            to the CNC Committee in 2023 through October&nbsp;2025.<SUP>37</SUP> ProQR has never explained
                                            that it deviates from the aforementioned rule, let alone why, even though this is a strict
                                            requirement under NASDAQ Rule&nbsp;5615-3.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Compensation of Executive Directors</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.9.</TD><TD STYLE="text-align: justify">The compensation of the executive
                                            directors consists of three components: (i)&nbsp;an annual base salary, (ii)&nbsp;a short-term
                                            bonus, and (iii)&nbsp;a long-term bonus.<SUP>38</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.10.</TD><TD STYLE="text-align: justify">The short-term bonus consists of
                                            a cash payment calculated based on (i)&nbsp;financial, non-financial, and personal targets
                                            for each executive director and (ii)&nbsp;the <I>milestones</I> achieved by ProQR.<SUP>39</SUP>
                                            The purpose of this compensation component is to compensate, reward, and retain the executive
                                            director.<SUP>40</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.11.</TD><TD STYLE="text-align: justify">In practice, however, this bonus
                                            has consistently been paid out (in substantial amounts) even in years when the company reported
                                            losses. For example, in 2024, De Boer received a bonus of EUR 394,000 in 2024 and a bonus
                                            of EUR 315,000 in 2025,<SUP>41</SUP> even though ProQR suffered significant losses in both
                                            years and the share price fell substantially, just as it had in previous years. As a result,
                                            the short-term bonus does not serve as a performance incentive but rather as a virtually
                                            guaranteed annual bonus.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.12.</TD><TD STYLE="text-align: justify">The long-term bonus consists of the
                                            issuance of options to purchase ProQR shares. Contrary to best practice provision 3.1.2 of
                                            the Corporate Governance Code, the number of options to be issued is not based on predetermined
                                            parameters. ProQR argues that this deviation from the Corporate Governance Code is in the
                                            interest of attracting and retaining executive directors. In addition, according to its 2025
                                            annual report, ProQR also deviates from best practice provisions 3.1.2.vi and 3.1.2.vii:
                                            the options granted to directors are exercisable before the expiration of three years following
                                            grant, and there is no obligation for directors to hold the acquired shares for at least
                                            five years. The Board also justifies these deviations by arguing that this is necessary to
                                            attract highly qualified directors to attract and retain talent, without further explaining
                                            why such a deviation is justified in the specific case of ProQR. <SUP>42</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>36</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;16
                                            (ProQR Compensation, Nominating, and Corporate Governance Committee Charter dated December&nbsp;2,
                                            2025), p. 1: <I>&ldquo;All members of the CNC Committee shall satisfy the independence standards
                                            established pursuant to Rule&nbsp;5605(a)(2)&nbsp;of the Market Rules&nbsp;of the NASDAQ
                                            Stock Market LLC</I>.&rdquo;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>37</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;17</U></B>:
                                            ProQR 2023 Annual Report.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>38</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;18</U></B>:
                                            ProQR Board Compensation Policy dated May&nbsp;22, 2024, p. 2, and Exhibit&nbsp;14 (ProQR
                                            Annual Report 2024), p. 10 et seq. See also Exhibit&nbsp;15 (ProQR Annual Report 2025), p.
                                            11 et seq.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>39</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;18
                                            (ProQR Board Compensation Policy dated May&nbsp;22, 2024), Section&nbsp;2.1.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>40</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;18
                                            (ProQR Board Compensation Policy dated May&nbsp;22, 2024), Section&nbsp;2.1, and Exhibit&nbsp;14
                                            (ProQR Annual Report 2024), p. 10 et seq. See also Exhibit&nbsp;15 (ProQR Annual Report 2025),
                                            p. 11 et seq.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>41</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14
                                            (ProQR Annual Report 2024), p. 87, and Exhibit&nbsp;15 (ProQR Annual Report 2025), p. 88.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>42</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR 2025 Annual Report), p. 12.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.13.</TD><TD STYLE="text-align: justify">In reality, this deviation results
                                            in disproportionate option grants to De Boer that bear no relation whatsoever to shareholder
                                            value or performance. In 2025, De Boer received no fewer than 1,863,587 options - of which
                                            1,400,000 were for unknown <I>&ldquo;non-market performance conditions</I>,&rdquo; which
                                            were deemed to have been met without external review, representing approximately 1.77% of
                                            ProQR&rsquo;s total market capitalization at the time - issued at an exercise price ranging
                                            from USD 2.16 to USD 2.65.<SUP>43</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.14.</TD><TD STYLE="text-align: justify">De Boer&rsquo;s total option portfolio
                                            amounted to more than 6.2 million options at the end of 2025. This means that De Boer can
                                            benefit from price increases without any downside risk, while the dilution caused by these
                                            substantial option packages is passed on entirely to the shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.15.</TD><TD STYLE="text-align: justify">In this context, it is also relevant
                                            that De Boer saw his option portfolio increase by nearly one-third in 2025, even though that
                                            year saw the company&rsquo;s largest-ever loss (see &sect; 4.4 below) and the exercise price
                                            for these options is historically low. By way of comparison: in 2021, De Boer received 442,279
                                            options with an exercise price of EUR 3.42 per option, and in 2020, he received 395,561 options
                                            with an exercise price of EUR 13.78 per option.<SUP>44</SUP> In 2025, De Boer thus received
                                            1,863,587 options with an exercise price ranging from USD 2.16 to USD 2.65. In this way,
                                            De Boer is effectively rewarded for the collapse of the share price.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Compensation for Non-Executive
Directors</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.16.</TD><TD STYLE="text-align: justify">According to the Compensation Policy,
                                            the compensation of non-executive directors is not - at least not directly - based on ProQR&rsquo;s
                                            financial results and consists of two components: (i)&nbsp;an annual fixed stipend and (ii)&nbsp;compensation
                                            in the form of stock options.<SUP>45</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.17.</TD><TD STYLE="text-align: justify">Each non-executive director receives
                                            a fixed amount plus an annual allowance depending on the role they play within the Board
                                            or for participation in board committees:<SUP>46</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin-left: 0.75in; font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2621582d1_ex99-2img03.jpg" ALT="">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.18.</TD><TD STYLE="text-align: justify">Notwithstanding best practice provision
                                            3.3.2 of the Corporate Governance Code, ProQR offers its non-executive directors the option
                                            to take out options to purchase treasury shares.<SUP>47</SUP> Non-executive directors may
                                            also choose whether they wish to actually exercise these options or have them paid out as
                                            a cash bonus of up to 50% of the value of the options.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>43</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025), p. 12.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>44</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;19</U></B>:
                                            ProQR Annual Report 2021, p. 91.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>45</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;18
                                            (ProQR Board Compensation Policy dated May&nbsp;22, 2024), Section&nbsp;3.2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>46</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;18
                                            (ProQR Board Compensation Policy dated May&nbsp;22, 2024), Section&nbsp;3.2.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>47</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;18
                                            (ProQR Board Compensation Policy dated May&nbsp;22, 2024), Article&nbsp;3.3; <B><U>Exhibit&nbsp;20</U></B>:
                                            ProQR Equity Incentive Plan dated May&nbsp;22, 2024, and Exhibit&nbsp;15 (ProQR 2025 Annual
                                            Report), p. 36.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.19.</TD><TD STYLE="text-align: justify">Under the Compensation Policy, a
                                            non-executive director is eligible to receive stock options after being selected for this
                                            purpose by the Board. The total maximum value of a stock option grant is EUR 143,000 per
                                            year per non-executive director.<SUP>48</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.20.</TD><TD STYLE="text-align: justify">In 2025, the non-executive directors
                                            received option grants ranging from 22,128 to 36,314 options per person at an exercise price
                                            ranging from USD 1.90 to (in most cases) USD 2.65 per option. In 2024, the option grants
                                            ranged from a few hundred options to approximately 23,489 options per person, issued at an
                                            exercise price of USD 1.98 per option.<SUP>49</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Interim Conclusion</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.3.21.</TD><TD STYLE="text-align: justify">The current situation is therefore
                                            that the CNC Committee - whose chairperson is not independent and whose member (Shannon)
                                            serves on the Board in violation of ProQR&rsquo;s governance - approves both the large option
                                            grants to the executive directors and receives substantial annual option grants itself. In
                                            2025, the non-executive directors serving on the CNC Committee were granted option packages
                                            ranging from 22,128 and 36,314 options, while that same committee is responsible for evaluating
                                            and awarding substantial cash bonuses, stock option awards, and other favorable financial
                                            packages to De Boer and other directors. This constitutes a structural conflict of interest:
                                            the committee that is supposed to independently oversee the compensation policy directly
                                            benefits from the very same equity structure it is tasked with evaluating.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.4.</B></TD><TD STYLE="text-align: justify"><B>ProQR&rsquo;s Disappointing
                                            Performance</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.1.</TD><TD STYLE="text-align: justify">ProQR&rsquo;s performance under the
                                            leadership of largely the same board composition in recent years has lagged behind, primarily
                                            due to (i)&nbsp;the stagnation of the collaboration with Eli Lilly, (ii)&nbsp;the lack of
                                            new <I>business development </I>partnerships, and (iii)&nbsp;delays in ProQR&rsquo;s development
                                            of and research into RNA technology.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>The Stagnation of the Collaboration
with Eli Lilly</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.2.</TD><TD STYLE="text-align: justify">ProQR has had a collaboration with
                                            pharmaceutical giant Eli Lilly since 2021. According to ProQR, this collaboration is essential
                                            for both the development of RNA technology and its future commercialization. Eli Lilly provides
                                            ProQR with incentives by rewarding it upon achieving certain <I>&ldquo;milestones</I>.&rdquo;
                                            To date, EUR 4.5 million in milestone payments has been released.<SUP>50</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>48</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;18
                                            (ProQR Board Compensation Policy dated May&nbsp;22, 2024), Section&nbsp;3.3.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>49</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025), pp. 90&ndash;91.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>50</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;21</U></B>:
                                            ProQR press release regarding the publication of Phase 1 data dated January&nbsp;8, 2026,
                                            pp. 1, 3.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.3.</TD><TD STYLE="text-align: justify">The collaboration with Eli Lilly is
                                            not progressing in line with ProQR&rsquo;s forecast.<SUP>51</SUP> Since 2022, Eli Lilly has
                                            had the option to expand the collaboration for EUR 50 million in revenue. This option has
                                            not been exercised to date,<SUP>52</SUP> while ProQR has raised expectations since 2023 that
                                            an expansion would follow. Recently<SUP>,(53)</SUP> Eli Lilly has, in fact, scaled back the
                                            collaboration by returning one program to ProQR, thereby canceling future milestone payments
                                            (see &sect; 4.4.8 et seq.).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Lack of new collaborations with
companies</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.4.</TD><TD STYLE="text-align: justify">ProQR outlined to VHI et al. the prospect
                                            that, in addition to its collaboration with Eli Lilly, it would enter into new collaborations
                                            with third parties in order to generate more revenue for the development of RNA technology.<SUP>54</SUP>
                                            Such collaborations are crucial for ProQR to, among other things, accelerate scaling up and
                                            reduce the financial pressure on the company. To date, ProQR has not entered into any new
                                            partnerships. According to ProQR, the reason for the lack of new partnerships lies with the
                                            third parties, who do not wish to enter into any concrete partnership commitments at this
                                            time.<SUP>55</SUP> ProQR has not shared further details or updates on this matter with its
                                            shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Delay in ProQR&rsquo;s RNA technology
development and research</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.5.</TD><TD STYLE="text-align: justify">ProQR's strategy currently focuses
                                            solely on its proprietary &quot;Axiomer&quot; technology, which it developed in-house.<SUP>56</SUP>
                                            Investments in ProQR&rsquo;s other development programs have been discontinued. <SUP>57</SUP>
                                            The Axiomer technology has the potential to enable a new class of drugs that could treat
                                            a wide range of rare genetic diseases. However, the development of such drug classes and
                                            products is proceeding more slowly than expected.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.6.</TD><TD STYLE="text-align: justify">In the biotech sector, a company&rsquo;s
                                            progress and performance are reflected in the results of clinical <I>trials</I>, especially
                                            when a company is still in the development phase of its products, as is the case with ProQR
                                            and the RNA technology it is developing. The clinical results from these trials ultimately
                                            determine whether the product actually works. ProQR received approval to begin clinical trials
                                            in October&nbsp;2025.<SUP>58</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.7.</TD><TD STYLE="text-align: justify">On January&nbsp;8, 2026, ProQR presented
                                            the initial results of these trials and indicated that it expects to be able to report data
                                            on target binding in the first half of 2026.<SUP>59</SUP> Target binding is the process by
                                            which a drug binds to a specific biological target (such as a receptor or enzyme). This creates
                                            an interaction that can alter, block, or cure the disease process.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>51</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;22</U></B>:
                                            Press release by ProQR, Lilly, and ProQR regarding the RNA Editing Collaboration dated December&nbsp;22,
                                            2022.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>52</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;23</U></B>:
                                            ProQR press release regarding Q2 2025 results dated August&nbsp;7, 2025, p. 2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>53</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;24</U></B>:
                                            ProQR 2022 Annual Report, p. 9.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>54</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14
                                            (ProQR Annual Report 2024), p. 21.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>55</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;25</U></B>:
                                            Dharminder&rsquo;s Statement.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>56</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;26</U></B>:
                                            ProQR Strategy Update dated April&nbsp;13, 2022, and Exhibit&nbsp;23 (ProQR press release
                                            regarding Q2 2025 results dated August&nbsp;7, 2025).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>57</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;26
                                            (ProQR Strategy Update dated April&nbsp;13, 2022).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>58</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;27</U></B>:
                                            ProQR press release regarding approval of clinical trials dated October&nbsp;20, 2025, p.
                                            1.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>59</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;21
                                            (ProQR press release regarding the announcement of Phase 1 data dated January&nbsp;8, 2026).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.8.</TD><TD STYLE="text-align: justify">On June&nbsp;25, 2026, ProQR disclosed
                                            the results regarding so-called target binding.<SUP>60</SUP> In doing so, ProQR announced
                                            that evidence of target binding for AX-0810 - ProQR&rsquo;s first potential drug based on
                                            the Axiomer RNA platform - had been found in 22 healthy volunteers. ProQR characterizes these
                                            results as an initial clinical validation of this platform.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.9.</TD><TD STYLE="text-align: justify">Although VHI et al. welcome the announcement
                                            of positive, initial research results in and of itself, it is aware that these consist exclusively
                                            of early-phase clinical data from a very limited number of healthy volunteers. By their nature,
                                            these data pertain only to safety, pharmacokinetics, and biological target engagement,<SUP>61</SUP>
                                            and not to the clinical efficacy of the drug. In this context, clinical efficacy is defined
                                            as the ability of a drug to bring about a demonstrable therapeutic improvement in the clinical
                                            picture of patients. In addition, ProQR has announced that it will not continue the further
                                            development of the drug to which these trial results relate and will shift its focus to a
                                            successor candidate, AX-0811. This change in course brings yet another delay, following the
                                            fact that the announcement of the current study results had already taken place later than
                                            ProQR had previously anticipated.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.10.</TD><TD STYLE="text-align: justify">As a result, ProQR continues to lag
                                            behind its competitors. For example, competitors such as Wave Life Sciences and Korro Bio
                                            have already published clinical data since October&nbsp;2024 that do pertain to efficacy
                                            in patients with the disease.<SUP>62</SUP> In contrast, based on its current development
                                            schedule, ProQR does not expect to generate such efficacy data until around mid-2028, even
                                            though ProQR began developing RNA technology earlier.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.11.</TD><TD STYLE="text-align: justify">The Accuracy Report confirms the
                                            perception that ProQR consistently lags behind its competitors. Accuracy concludes that,
                                            while ProQR did begin developing RNA technology earlier than its competitors, several competitors
                                            have since made faster progress toward clinical validation.<SUP>63</SUP> ProQR&rsquo;s development
                                            pipelines and clinical evidence lag behind those of its competitors. For example, it took
                                            ProQR approximately thirteen years to progress from its founding to a first-in-human study,
                                            while competitors such as Wave and HuidaGene reached this milestone in approximately seven
                                            and eleven years, respectively. Also Korro and Rznomics - companies established at a later
                                            date&mdash;began the clinical phase earlier than ProQR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>60</SUP></TD><TD STYLE="text-align: justify"><B><U>Issue
                                            28</U></B>: ProQR press release regarding initial research data dated June&nbsp;25, 2026.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>61</SUP></TD><TD STYLE="text-align: justify">Pharmacokinetics
                                            is the science that studies what the body does with a drug. In pharmacology, biological &ldquo;target
                                            engagement is the evidence that a drug candidate reaches and binds to the intended receptor
                                            or protein (the target) in the body.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>62</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;29</U></B>:
                                            Press releases from Wave (September&nbsp;3, 2025) and Korro (March&nbsp;19, 2025).</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>63</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;10
                                            (Accuracy Report dated July&nbsp;7, 2026), p. 12.</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Overview of Results Over the Years</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.12.</TD><TD STYLE="text-align: justify">These disappointing developments
                                            have also translated into disastrous results. Since its founding in 2014, ProQR has been
                                            losing tens of millions of euros annually. Over the past five years, the following losses
                                            have been incurred:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify">Year</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Revenue (in
    EUR million)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Net loss (in
    EUR million)</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">15.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right">42.2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27.8</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6.5</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3.6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">64.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">2021</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">61.7</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.13.</TD><TD STYLE="text-align: justify">The poor performance and persistent
                                            losses have also had a major impact on ProQR&rsquo;s stock price. At one time, when ProQR
                                            was still viewed as a promising company, the stock price stood at nearly USD 25 per share.
                                            That figure dropped sharply after the first failed clinical trials. In recent years, the
                                            price has continued to decline and, so far in 2026, has fluctuated between USD 1.35 and 2:<SUP>64</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2621582d1_ex99-2img02.jpg" ALT="" STYLE="height: 236px; width: 600px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.4.14.</TD><TD STYLE="text-align: justify">These figures and share price trends
                                            leave no room for any conclusion other than that ProQR has failed to create value in recent
                                            years. On the contrary: as a result of repeated, failed strategic repositioning efforts,
                                            the lack of new partnerships, and the ongoing delays in the development of its technology,
                                            the company has suffered substantial losses year after year. Revenue, however, remained limited
                                            to marginal amounts. The dramatic decline in the stock price reflects how the market has
                                            lost confidence in ProQR. For shareholders, this has led to structural value destruction,
                                            while internally there appears to be no course correction or effective refinement of strategy,
                                            execution, or oversight.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>64</SUP></TD><TD STYLE="text-align: justify">Screenshot
                                            from: <U>https://www.proqr.com/investors-media/stock-info</U> (accessed on July&nbsp;27,
                                            2026, at 9:35 a.m.&nbsp;EST), period January&nbsp;1, 2021 &ndash; March&nbsp;30, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.5.</B></TD><TD STYLE="text-align: justify"><B>2024 Annual General Meeting,
                                            reappointment of Valerio and Shannon, and explicit commitment regarding board composition</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.1.</TD><TD STYLE="text-align: justify">The agenda for the AGM24 included
                                            the reappointment of both Valerio and Shannon for a two-year term.<SUP>65</SUP> At the time,
                                            Valerio and Shannon had served on the Board for ten and (nearly) eight years, respectively.
                                            The agenda (and its explanatory notes) for the 2024 AGM, as well as the 2024 annual report,
                                            failed to provide a reasoned explanation for the reappointment of both non-executive directors,
                                            which would result in their cumulative term of office exceeding eight years, in violation
                                            of the Board Rules&nbsp;and the Corporate Governance Code.<SUP>66</SUP> Furthermore, it was
                                            not made clear to Shannon that this reappointment deviates from the term of office prescribed
                                            by the Corporate Governance Code (see &sect; 4.2.7).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.2.</TD><TD STYLE="text-align: justify">In the run-up to the 2024 Annual General
                                            Meeting, VHI et al. spoke with the Board on several occasions regarding the reappointments
                                            of Valerio and Shannon. For example, on April&nbsp;16, 2024, VHI et al. spoke with Beukema
                                            on multiple occasions. VHI et al. also had a meeting with Beukema on May&nbsp;6, 2024. Both
                                            Valerio and De Boer were reportedly aware of this meeting. During this conversation, Beukema
                                            explicitly stated that the reappointments of Valerio and Shannon for two years did not automatically
                                            mean that they would actually serve the full two-year term. VHI et al. inferred from this
                                            that the reappointments were viewed more as interim measures.<SUP>67</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.3.</TD><TD STYLE="text-align: justify">VHI et al. had already expressed their
                                            concerns regarding these reappointments during the AGM24.<SUP>68</SUP> When the agenda items
                                            pertaining to this matter were adopted, VHI made its objection known by casting a dissenting
                                            vote. Nevertheless, the agenda items were adopted.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.4.</TD><TD STYLE="text-align: justify">During the AGM24, the Board also announced
                                            that the goals set for 2023 and, in part, for 2024, had not been achieved. VHI et al. also
                                            asked the Board several questions during the 2024 Annual General Meeting in response to these
                                            announcements and the smaller steps taken than ProQR had promised. In doing so, VHI et al.
                                            explicitly highlighted the opportunities for new partnerships and the expansion of the partnership
                                            with Eli Lilly.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.5.</TD><TD STYLE="text-align: justify">After the AGM24, in June&nbsp;2024,
                                            ProQR published the minutes on its website. These minutes do not reflect the objections raised
                                            by VHI et al. regarding the reappointments or the questions they posed concerning, among
                                            other things, the failure to meet targets. Despite complaints from VHI et al., these omissions
                                            have not (to date) been rectified. The minutes also lack exact voting results.<SUP>69</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>65</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;30</U></B>:
                                            Minutes of ProQR&rsquo;s 24th General Meeting.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>66</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14
                                            (ProQR Annual Report 2024), p. 5. See also Exhibit&nbsp;15 (ProQR Annual Report 2025), p.
                                            5.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>67</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;25
                                            (Dharminder&rsquo;s Statement).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>68</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;30
                                            (Minutes of ProQR&rsquo;s 24th General Meeting).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>69</SUP></TD><TD STYLE="text-align: justify">VHI et al.
                                            note that Article&nbsp;2:120(5)&nbsp;of the Dutch Civil Code, in conjunction with Article&nbsp;5:25ka(3)&nbsp;of
                                            the Financial Supervision Act, does not apply to ProQR (in accordance with Article&nbsp;5:25j(1)&nbsp;of
                                            the Financial Supervision Act), but considers the publication of this information to be in
                                            line with the best practice principles set forth in the Corporate Governance Code and with
                                            market practice among other Dutch public limited companies (N.V.s) listed on stock exchanges
                                            in the United States, such as NXP Semiconductors N.V. and STMicroelectronics N.V.</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.5.6.</TD><TD STYLE="text-align: justify">In ProQR&rsquo;s 2024 management report,
                                            it was disclosed only after the fact that Valerio and Shannon, following ten and eight years
                                            on the board, respectively, had been reappointed for two years.<SUP>70</SUP> ProQR&rsquo;s
                                            explanation is brief and limited to stating that ProQR wished to retain both individuals&rsquo;
                                            experience in the biotech industry.<SUP>71</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.6.</B></TD><TD STYLE="text-align: justify"><B>VHI et al. raised objections
                                            in the run-up to and during the 2025 annual general meeting regarding the reappointments
                                            of De Boer and Shannon</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.1.</TD><TD STYLE="text-align: justify">In light of its ongoing objections,
                                            VHI et al. spoke with Shannon in early 2025 about, among other things, the manner in which
                                            ProQR implements its governance and the objectives set by ProQR. During this discussion,
                                            VHI et al. expressed their dissatisfaction with both ProQR&rsquo;s implementation of governance
                                            and its failure to achieve the set objectives. In response to the criticism from VHI et al.,
                                            Shannon suggested at the time that the discussion be continued at the end of 2025, as ProQR
                                            expected to have clinical data available by then and indicated that he would be leaving ProQR
                                            by that time. <SUP>72</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.2.</TD><TD STYLE="text-align: justify">On May&nbsp;1, 2025, VHI et al. received
                                            the notice of ProQR&rsquo;s 2025 Annual General Meeting (AGM), to be held on June&nbsp;3,
                                            2025 (the &ldquo;<B>AGM25</B>&rdquo;). Contrary to the Board&rsquo;s commitment of May&nbsp;6,
                                            2024 (see &sect; 4.5.2) and to the great surprise of VHI et al., Shannon&rsquo;s reappointment
                                            was once again on the agenda, this time for a four-year term. De Boer&rsquo;s reappointment
                                            for a four-year term was also on the agenda. Shannon and De Boer had served on the Board
                                            for nine and thirteen years, respectively, up to that point. For both Shannon and De Boer,
                                            their current terms of office had not yet expired. Three-quarters of De Boer&rsquo;s term
                                            had elapsed, while only half of Shannon&rsquo;s had.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.3.</TD><TD STYLE="text-align: justify">For both reappointments, the notes
                                            to the agenda state that the Board believes retaining the experience of both individuals
                                            is in ProQR&rsquo;s best interest. Regarding De Boer&rsquo;s reappointment, the Board in
                                            addition, a general explanation was provided, emphasizing his knowledge of the industry and
                                            of ProQR.<SUP>73</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><IMG SRC="tm2621582d1_ex99-2img04.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>70</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14:
                                            (ProQR Annual Report 2024), p. 5.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>71</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14:
                                            (ProQR Annual Report 2024), p. 6: <I>&ldquo;In accordance with Article&nbsp;2.2.2 of the
                                            Corporate Governance Code, it is noted that Mr.&nbsp;Valerio and Mr.&nbsp;Shannon were reappointed
                                            at the 2024 Annual General Meeting, following tenures of ten and eight years, respectively,
                                            for a period of two years each. The reappointment of Mr.&nbsp;Valerio beyond his ten-year
                                            term was deemed to be in the interest of the Company and its stakeholders due to his extensive
                                            experience in the Dutch biotech industry and in-depth knowledge of our business. The reappointment
                                            of Mr.&nbsp;Shannon beyond his eight-year term was deemed to be in the best interests of
                                            the Company and its stakeholders due to his broad knowledge and significant international
                                            experience in drug development</I>.&rdquo; See also Exhibit&nbsp;15 (ProQR 2025 Annual Report),
                                            p. 35: <I>&ldquo;James Shannon, M.D., was reappointed as a non-executive Board member at
                                            the 2025 AGM for a term of 4 years, having served as a non-executive Board member for 9 years
                                            at that time. [...] The Board has determined that it is in the best interest of the Company
                                            to nominate Dr.&nbsp;Shannon for reappointment for a term of 4 years at the 2025 AGM.&rdquo;</I></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>72</SUP></TD><TD STYLE="text-align: justify">By the end
                                            of 2025, however, this announced clinical data was not available, meaning that, once again,
                                            a commitment had not been fulfilled.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>73</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;31</U></B>:
                                            Explanatory notes to the agenda for ProQR&rsquo;s 25th General Meeting, p. 4.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.4.</TD><TD STYLE="text-align: justify">Regarding Shannon&rsquo;s reappointment,
                                            the Board explained that his broad knowledge and international experience in drug development
                                            and the pharmaceutical industry were important to the Board:<SUP>74</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in"><IMG SRC="tm2621582d1_ex99-2img05.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.5.</TD><TD STYLE="text-align: justify">The explanation for the agenda item
                                            regarding Shannon&rsquo;s reappointment does not state that the reappointment is contrary
                                            to ProQR&rsquo;s governance (see &sect; 5.3 below). Furthermore, no justification was provided
                                            as to why the reappointment would be in the best interests of ProQR and its stakeholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.6.</TD><TD STYLE="text-align: justify">In the run-up to ProQR&rsquo;s AGM25,
                                            VHI et al. sent a letter on May&nbsp;23, 2025, to ProQR in which they expressed their objections
                                            to the reappointments of De Boer and (once again) Shannon.<SUP>75</SUP> In this letter, VHI
                                            et al. called on the Board to evaluate the disappointing performance, to critically review
                                            the Board&rsquo;s composition, and urged the Board to revoke the reappointments of Shannon
                                            and De Boer.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.7.</TD><TD STYLE="text-align: justify">In the letter, VHI et al. explained
                                            that, to their regret, they had to conclude that the Board is ignoring the objections that
                                            VHI et al. have held since the run-up to the 24th General Meeting and appears determined
                                            (still) not to adjust the Board&rsquo;s composition. In doing so, it is disregarding earlier
                                            commitments (see &sect; 4.5.2). In this context, VHI et al. also noted that, since its initial
                                            public offering in 2014, ProQR has had to strategically reorient itself on multiple occasions
                                            due to its failure to meet set goals, but without these reorientations leading to concrete
                                            positive developments. These strategic reorientations have consistently taken place under
                                            a Board whose composition, in terms of key positions, has remained largely unchanged.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.8.</TD><TD STYLE="text-align: justify">VHI et al. explained that Shannon&rsquo;s
                                            reappointment violates the Board Rules&nbsp;and the Corporate Governance Code (see &sect;&sect;
                                            4.2.7 and 4.5.1) as well as the commitment of May&nbsp;6, 2024 (see &sect; 4.5.2).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.9.</TD><TD STYLE="text-align: justify">Furthermore, they argued that ProQR&rsquo;s
                                            disappointing performance did not justify either reappointment.<SUP>76</SUP> The disappointing
                                            performance to which VHI et al. refers to relate to the fact that ProQR did not achieve the
                                            objectives set when VHI et al. joined the board. Although ProQR had raised expectations among
                                            VHI et al. in this regard, the collaboration with Eli Lilly was not expanded. Nor were any
                                            previously announced transactions nor have collaborations with other companies been established.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>74</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;32</U></B>:
                                            Explanatory notes to the agenda for ProQR&rsquo;s 24th General Meeting, pp. 3 and 4.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>75</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;33</U></B>:
                                            Letter from VHI et al. to ProQR dated May&nbsp;23, 2025, pp. 2&ndash;3.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>76</SUP></TD><TD STYLE="text-align: justify"><I>Ibid</I>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Finally, the development process,
including clinical trials, is proceeding more slowly than VHI et al. were led to believe, which is causing an overall delay in ProQR&rsquo;s
development (see &sect; 4.4.5).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.10.</TD><TD STYLE="text-align: justify">VHI et al. further stated that, in
                                            their view, the disappointing performance is partly due to insufficient quality in oversight
                                            and to the formation of cliques within the Board, caused by administrative and business interactions
                                            among individuals who have been working together for at least twelve years, including in
                                            various configurations at different companies (see &sect; 4.1.7). According to VHI et al.,
                                            new leadership at ProQR is needed now more than ever to realize its potential, improve performance,
                                            and fulfill its mission. VHI et al. also offered to enter into discussions with the Board
                                            and emphasized that they see no reason for the reappointment of Shannon and De Boer, given
                                            that they have served on the Board for a long time without achieving any concrete results.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.11.</TD><TD STYLE="text-align: justify">ProQR did not respond substantively
                                            to the letter from VHI et al. dated May&nbsp;23, 2025.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.12.</TD><TD STYLE="text-align: justify">As a result of its letter dated May&nbsp;23,
                                            2025, VHI et al. were required to file a so-called <I>&ldquo;Schedule 13-D </I>filing&rdquo;
                                            with the SEC in the United States. Such a filing is mandatory under U.S. securities law if
                                            a shareholder holding more than 5% of the shares expresses an opinion on the policy of a
                                            publicly traded company. As a result of this <I>Schedule 13-D filing</I>, the filer&rsquo;s
                                            voting rights are suspended for a period of ten days from the filing date, known as the <I>&ldquo;cooling-off
                                            period</I>.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.13.</TD><TD STYLE="text-align: justify">VHI et al. were unable to vote in
                                            connection with the <I>Schedule 13-D filing</I>. In accordance with the Articles of Association,
                                            the votes of VHI et al. qualified as &ldquo;abstentions.&rdquo;<SUP>77</SUP> Abstentions
                                            do not count as votes cast. The voting results at the AGM25 were calculated using the following
                                            formula:<SUP>78</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;votes
in favor&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(votes in favor &#119901;&#119897;&#119906;&#119904;
votes against &#119898;&#119894;&#119899;&#119906;&#119904; abstentions)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.14.</TD><TD STYLE="text-align: justify">The proposals to reappoint Shannon
                                            and De Boer were approved at the AGM25 by 80.7% and 86.3% of the votes cast, respectively,
                                            with the 55,572,186 votes cast representing approximately 52.75% of the total issued capital.
                                            Had VHI et al. voted against the reappointments, they would have been approved by majorities
                                            of 66.9% and 71.5%, respectively. Aescap voted against the reappointments.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.15.</TD><TD STYLE="text-align: justify">Despite the <I>cooling-off period
                                            </I>applicable to VHI et al., they were permitted to voice their objections&mdash;including
                                            those regarding the reappointments&mdash;and to ask questions during AGM25.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.16.</TD><TD STYLE="text-align: justify">During the AGM25, VHI et al. requested
                                            that ProQR include their comments and questions in the minutes and also report the results
                                            of the votes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>77</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;11
                                            (ProQR Articles of Association dated June&nbsp;2, 2026), Article&nbsp;28.4.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>78</SUP></TD><TD STYLE="text-align: justify">The voting
                                            formula was drawn up based on email correspondence between ProQR&rsquo;s attorney and the
                                            notary for VHI et al. regarding the voting results of the 25th General Meeting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.17.</TD><TD STYLE="text-align: justify">The minutes of the AGM25 have since
                                            been made available on ProQR&rsquo;s website and include a summary of VHI&rsquo;s questions
                                            and comments, including the voting percentages.<SUP>79</SUP> Exhibit&nbsp;35 provides a concise
                                            overview of the relevant questions posed by VHI et al. and ProQR&rsquo;s responses during
                                            the 25th General Meeting.<SUP>80</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.6.18.</TD><TD STYLE="text-align: justify">Following the 25th General Meeting,
                                            VHI et al. held several discussions with ProQR regarding, among other things, the reappointments
                                            of De Boer and Shannon.<SUP>81</SUP> In response to the objections raised by VHI et al.,
                                            ProQR indicated its willingness to (i)&nbsp;allow Shannon to serve on the Board through 2028,
                                            (ii)&nbsp;to put De Boer&rsquo;s reappointment back on the agenda in 2027, and (iii)&nbsp;to
                                            allow Valerio and Lawton&rsquo;s terms to (definitively) expire in 2026. VHI et al. considered
                                            that, with these proposals, ProQR was not taking their objections seriously enough and still
                                            did not appear willing to comply with its own governance standards.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.7.</B></TD><TD STYLE="text-align: justify"><B>VHI et al. Sends a Letter
                                            of Objection and Receives a Brief Response from ProQR</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.1.</TD><TD STYLE="text-align: justify">Because the Board (i)&nbsp;failed
                                            to address VHI et al.&rsquo;s objections in a meaningful way and thereby (ii)&nbsp;maintained
                                            the status quo in which ProQR is acting in violation of the governance framework applicable
                                            to it, VHI et al. felt compelled on August&nbsp;18, 2025, to formally express their objections
                                            via the Letter of Objections.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.2.</TD><TD STYLE="text-align: justify">In the Letter of Objections, VHI et
                                            al. raised the same objections as in their letter dated May&nbsp;23, 2025. In addition, VHI
                                            et al. expressed concerns about the short- and long-term bonuses awarded each year despite
                                            disappointing performance, which raises serious doubts about the effectiveness and independence
                                            of the CNC Committee (see &sect;&sect; 4.3.2-4.3.8).<SUP>82</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.3.</TD><TD STYLE="text-align: justify">VHI et al. emphasized that the aforementioned
                                            objections reflect a pattern of ineffective management and a breach of governance principles
                                            and reasonably called upon the Board:<SUP>83</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a)</TD><TD STYLE="text-align: justify">to publicly announce that De Boer and
                                            Shannon&rsquo;s terms of office will last until the 2026 annual general meeting, to be held
                                            on a date to be determined (the &ldquo;<B>AGM26</B>&rdquo;), rather than until 2029, at which
                                            time the shareholders will vote on their reappointment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b)</TD><TD STYLE="text-align: justify">to provide a clear rationale for De Boer&rsquo;s
                                            reappointment, including how this reappointment aligns with the long-term interests of the
                                            company and ProQR&rsquo;s stakeholders;<SUP>84</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>79</SUP></TD><TD STYLE="text-align: justify"><B>Exhibit&nbsp;34</B>:
                                            Minutes of ProQR&rsquo;s AGM25.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>80</SUP></TD><TD STYLE="text-align: justify"><B>Exhibit&nbsp;35</B>:
                                            Summary of questions from VHI et al. and ProQR&rsquo;s responses regarding AGM25.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>81</SUP></TD><TD STYLE="text-align: justify">During this
                                            period, ProQR sought to arrange a direct meeting with Van Herk, the founder of the legal
                                            entities under VHI et al. Van Herk declined that meeting and indicated that he would leave
                                            the discussion to the attorneys, since the discussion was already taking place there.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>82</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;8
                                            (Letter of Objections dated August&nbsp;18, 2025), p. 2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>83</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;8
                                            (Letter of Objections dated August&nbsp;18, 2025), p. 3.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>84</SUP></TD><TD STYLE="text-align: justify">VHI et al.
                                            indicated in this regard that they are open to the reappointment of De Boer, provided that
                                            his performance and compliance with governance standards in the coming period provide sufficient
                                            grounds for doing so.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c)</TD><TD STYLE="text-align: justify">to present a structured and transparent
                                            plan for the rotation of the Board for the 26th General Meeting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d)</TD><TD STYLE="text-align: justify">to publicly commit to compliance with
                                            both current governance standards and the highest standards of Dutch and U.S. governance
                                            practices.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.4.</TD><TD STYLE="text-align: justify">On August&nbsp;29, 2025, ProQR, through
                                            its attorney, responded to the Letter of Objections and completely rejected the requests
                                            of VHI et al., without addressing each individual objection and request made by VHI et al.<SUP>85</SUP>
                                            In its letter, ProQR disputes that the Board&rsquo;s conduct was ineffective and in violation
                                            of governance regulations. According to ProQR, the Board has demonstrated self-criticism
                                            and proactivity by adjusting its strategy and board composition in response to market conditions.<SUP>86</SUP>
                                            ProQR also asserts that the Board regularly evaluates its performance and composition and
                                            makes changes where necessary. To support this position, ProQR has outlined its development
                                            and strategic decisions since 2014, including the collaboration with Eli Lilly and the application
                                            to initiate clinical trials for the RNA-editing platform. It also notes that setbacks are
                                            common in the biotech industry.<SUP>87</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.5.</TD><TD STYLE="text-align: justify">In addition, ProQR cited the change
                                            in the governance structure and the two appointments that have taken place since 2023 at
                                            the board level and among the executive directors to support its position. However, the appointments
                                            to which ProQR refers do not pertain to key positions on the Board.<SUP>88</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.6.</TD><TD STYLE="text-align: justify">With regard to the reappointments
                                            of De Boer and Shannon, ProQR noted that these were carefully (re)considered, as explained
                                            in the notes to the agenda items for AGM25 (see &sect; 4.6.5). According to ProQR, the stability
                                            and continuity of the Board are crucial, and an amendment to the Board Rules&nbsp;is required
                                            to bridge the gap between the Dutch and U.S. systems. Furthermore, the commitment dated May&nbsp;6,
                                            2024, is disputed (see &sect; 4.5.2).<SUP>89</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.7.7.</TD><TD STYLE="text-align: justify">Regarding executive compensation,
                                            ProQR states that it is in line with policy and that, over the past five years, less than
                                            50% of the <I>&ldquo;target long-term incentive </I>bonuses&rdquo; have been awarded.<SUP>90</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.8.</B></TD><TD STYLE="text-align: justify"><B>Subsequent attempts to persuade
                                            ProQR to make improvements</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.1.</TD><TD STYLE="text-align: justify">Despite the disappointing outcome
                                            of this correspondence, VHI et al. did not immediately take further action in the months
                                            that followed. VHI et al. still held out some hope that the Board - following the clear signals
                                            from VHI et al. - would take measures on its own to improve governance, including adjusting
                                            the composition and working methods of the Board and complying with its own Board Rules&nbsp;and
                                            the Corporate Governance Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>85</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>86</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), p. 2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>87</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), pp. 1 and 2.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>88</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), p. 3.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>89</SUP></TD><TD STYLE="text-align: justify"><I>Ibid</I>.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>90</SUP></TD><TD STYLE="text-align: justify"><I>Ibid</I>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.2.</TD><TD STYLE="text-align: justify">Meanwhile, ProQR continued to indicate
                                            that it was eager to engage in dialogue.<SUP>91</SUP> VHI et al. has always been willing
                                            to engage in constructive consultation but noted that the previous correspondence with ProQR
                                            had not led to any concrete commitment or measure. VHI et al. expected that meaningful progress
                                            would only be possible if the Board demonstrated that it took their objections seriously
                                            and was willing to implement actual changes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.3.</TD><TD STYLE="text-align: justify">However, the hoped-for improvement
                                            failed to materialize. Therefore, Dharminder Chahal, on behalf of VHI et al. (&ldquo;<B>Chahal</B>&rdquo;),
                                            informed De Boer in a telephone conversation on January&nbsp;13, 2026, that if the situation
                                            continued unchanged, VHI et al. would feel compelled to request an investigation by the Enterprise
                                            Chamber. De Boer responded to this by requesting, in an email dated January&nbsp;20, 2026,
                                            that they hold further discussions.<SUP>92</SUP> VHI et al. agreed to this.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.4.</TD><TD STYLE="text-align: justify">This meeting between De Boer and Chahal
                                            took place on January&nbsp;28, 2026. During the meeting, Chahal once again explained in detail
                                            why the Board&rsquo;s performance was inadequate, what structural governance issues were
                                            at play, and what actions VHI et al. believed were necessary to restore shareholder confidence.
                                            De Boer&rsquo;s response gave VHI et al. cause for hope, as he promised to consult with the
                                            rest of the Board to see if they would be willing to make concessions. He would use a meeting
                                            already scheduled for February&nbsp;6, 2026, for this purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.5.</TD><TD STYLE="text-align: justify">A few days later, on January&nbsp;30,
                                            2026, however, De Boer sent another email in which he attempted to downplay the concerns
                                            of VHI et al.:<SUP>93</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&ldquo;Before I present this to the
Board,&nbsp;I wanted to confirm, just to be clear, what your requests are regarding refraining from taking the matter to the Enterprise
Chamber. If I understand correctly, it is that Alison and Dinko not be nominated for a new (re)appointment and that a well-structured
process for a chair transition be initiated for the Board chairmanship</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.6.</TD><TD STYLE="text-align: justify">De Boer knew full well that this was
                                            not enough. After all, he had spoken with Chahal just two days earlier and promised to discuss
                                            the full range of concerns within the Board. Moreover, he knew (from the start of the discussion)
                                            that, for VHI et al., the minimum requirement was that ProQR adhere to its own governance
                                            standards. This proposal fell short of that requirement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.7.</TD><TD STYLE="text-align: justify">Nevertheless, De Boer pressed on.
                                            When he had not received confirmation of his &ldquo;assumption&rdquo; within a few days,
                                            he decided to interpret the lack of response as confirmation:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;<I>I have not received a response
from you to the email below. Unless I hear otherwise,&nbsp;I will assume that the summary in my email below is correct and will inform
the Board accordingly</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.8.</TD><TD STYLE="text-align: justify">This was completely unacceptable to
                                            VHI et al. and, moreover, made it clear that De Boer and the Board were not taking their
                                            objections seriously. Chahal responded to February&nbsp;27, 2026, making it clear that this
                                            course of action exemplified the concerns of VHI et al. regarding governance:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&ldquo;This is not how I understood
our conversation. I therefore do not agree with the way you are now summarizing our position.</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>91</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;36</U></B>:
                                            Email correspondence between Chahal and De Boer dated September&nbsp;22, 2025, and December&nbsp;10,
                                            2025.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>92</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;37</U></B>:
                                            Email correspondence between Chahal and De Boer dated January&nbsp;20, 2026.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>93</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;38</U></B>:
                                            Email exchange between Chahal and De Boer dated January&nbsp;30, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>Furthermore,&nbsp;I do not appreciate
that you are already drawing conclusions &lsquo;in the absence of a contrary statement&rsquo; before I have had the opportunity to consider
the matter, discuss it internally, and respond. You know that I was going on vacation and that things are extremely busy both before
and after my vacation. I find this symptomatic of the concerns we have expressed about how the board functions in relation to ProQR&rsquo;s
shareholders.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>To be clear: the fact that two board
members - who were not eligible for reappointment anyway - will not be reappointed when their terms expire in 2026 is not a measure that
addresses the governance issues we have identified. That was bound to happen anyway. The fact that this is then presented in the press
release as evidence of a commitment to governance confirms the impression that the board is not paying sufficient attention to the core
of our concerns and is more concerned with framing the issue than with actually resolving the problems</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.9.</TD><TD STYLE="text-align: justify">De Boer&rsquo;s subsequent response
                                            illustrated that the substantive objections raised by VHI et al. were not taken seriously
                                            and that ProQR had not followed a thorough (re)appointment process. On March&nbsp;2, 2026,
                                            De Boer replied that he had assumed a deadline of February&nbsp;13, 2026, as he understood
                                            it, and that he believed the concerns raised by VHI et al. could be addressed by not renominating
                                            Lawton and Valerio.<SUP>94</SUP> In doing so, he ignored the fact that he had already received
                                            the answer to that question:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;<I>In any case, your concerns
about not reappointing Dinko and Alison - which we discussed - have been addressed, haven&rsquo;t they? And we will follow a thorough
(re)appointment process going forward</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.10.</TD><TD STYLE="text-align: justify">This led, on March&nbsp;9, 2026,
                                            to a further clarification from VHI et al., in which they explained that ProQR was once again
                                            missing the core of the concerns and turning a blind eye to the actual issues:<SUP>95</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&ldquo;VHI wants the board to take
governance and the related issues seriously, and to act accordingly. Allowing the terms of two board members - who were in any case no
longer eligible for reappointment - to expire does nothing to address the core of the concerns we have outlined. That is simply a natural
progression over time, not a measure that addresses the underlying issues.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>The commitment that you will follow
a thorough appointment process in the future is, in itself, a step in the right direction. But how seriously can we take such a commitment
as long as Shannon&rsquo;s reappointment - beyond the maximum cumulative term of office - was approved without any justification and
is being maintained in violation of a previous commitment? It gives the impression that two board members who are already leaving are
being put forward to divert attention, rather than the actual issues being recognized and addressed.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>94</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;39</U></B>:
                                            Email exchange between Chahal and De Boer dated March&nbsp;2, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>95</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;40</U></B>:
                                            Email exchange between Chahal and De Boer dated March&nbsp;9, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>Furthermore, VHI&rsquo;s concerns
are not limited to (re)appointments. The fact remains that the Board Rules&nbsp;are not being followed, that independent and critical
oversight is seriously lacking, and that ProQR is demonstrably lagging behind its peers, while the board continues to reward itself as
if it were delivering exceptional performance. These are just a few of the issues we have been bringing to your attention for some time.
The fact that these warning signs are being ignored - and that the board continues to try to brush off concerned shareholders - underscores
the seriousness of the situation</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>(&hellip;) We will therefore refer
the matter to the Enterprise Chamber.</I>&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.11.</TD><TD STYLE="text-align: justify">On March&nbsp;11, 2026, De Boer responded
                                            that he regretted the intention of VHI et al., that he did not agree with VHI et al.&rsquo;s
                                            presentation of the facts, and that, in his view, legal proceedings would be detrimental
                                            to the company. <SUP>96</SUP> He defended the composition of the Board of Directors and stated
                                            that previous resolutions had been adopted by shareholders with a large majority.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.12.</TD><TD STYLE="text-align: justify">That statement certainly did not
                                            allay the concerns of VHI et al. On March&nbsp;18, 2026, Chahal therefore stated that this
                                            was very disappointing, especially since VHI et al. had, in fact, been very patient.<SUP>97</SUP>
                                            However, since the Board systematically refused to acknowledge the problems and governance
                                            violations, let alone resolve them, but instead seemed preoccupied with crafting a narrative
                                            for a potential inquiry proceeding, that very proceeding was the only remaining option for
                                            VHI et al.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.8.13.</TD><TD STYLE="text-align: justify">On that same day, March&nbsp;18,
                                            2026, De Boer responded to Chahal&rsquo;s message. In his response, De Boer acknowledged
                                            that he regretted that VHI et al. no longer found the exchange of views useful, but he again
                                            refused to address the core of the issue.<SUP>98</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.9.</B></TD><TD STYLE="text-align: justify"><B>2025 Financial Statements
                                            Confirm the Problem</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.9.1.</TD><TD STYLE="text-align: justify">Meanwhile, on March&nbsp;12, 2026,
                                            ProQR had published its 2025 financial statements.<SUP>99</SUP> These painted an alarming
                                            picture: revenue of EUR 15.9 million and a net loss of EUR 42.2 million. Given ProQR&rsquo;s
                                            performance in the recent past, this was (unfortunately) no surprise.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.9.2.</TD><TD STYLE="text-align: justify">What was surprising, however, was
                                            that the Board had decided to award itself - and De Boer in particular - substantial compensation
                                            for this &ldquo;performance.&rdquo; For example, De Boer was awarded a cash bonus of EUR
                                            315,000 for the year 2025, on top of his already generous base salary of EUR 591,000.<SUP>100</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>96</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;41</U></B>:
                                            Email correspondence between Chahal and De Boer dated March&nbsp;11, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>97</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;42</U></B>:
                                            Email exchange between Chahal and De Boer dated March&nbsp;18, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>98</SUP></TD><TD STYLE="text-align: justify"><I>Ibid</I>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>99</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>100</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025), p. 11.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">For VHI et al., however, this was
still even more concerning was the decision to grant De Boer an exceptionally large option package (see also &sect; 4.3.13): a total
of 1,863,587 options, at exercise prices ranging from USD 2.16 to USD 2.65. Of this total, 1.4 million options were granted based on
so-called <I>non-market performance conditions</I>.<SUP>101</SUP> The 2025 financial statements do not specify what these conditions
are or how the CNC Commission reached the conclusion that they had been met and that this should result in the grant of 1.4 million stock
options. In other words: no justification whatsoever has been provided for this.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.9.3.</TD><TD STYLE="text-align: justify">VHI et al. find it incomprehensible
                                            that the Board is rewarding itself so generously while shareholder value continues to decline
                                            each year. In fact, it appears that the Board intends to take advantage of the extremely
                                            low share price by issuing an unusually large number of stock options to (in particular)
                                            De Boer, which can then be exercised at a low price. In this way, De Boer is effectively
                                            rewarded for the low share price.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.9.4.</TD><TD STYLE="text-align: justify">Furthermore, the 2025 annual report
                                            reveals that the CNC Committee and the Board have implemented an arrangement that significantly
                                            increases the costs of a change in control and thereby provides De Boer with an exceptional
                                            personal financial benefit. Upon the recommendation of the CNC Committee, the Board has decided
                                            that, in the event of a change of control - even without termination of his employment -
                                            De Boer is entitled to 24 months&rsquo; gross base salary, 150% of his annual short-term
                                            bonus, and immediate vesting of all his stock options and RSUs. This arrangement creates
                                            a direct and substantial financial interest for De Boer in the manner in which any change
                                            of control is structured.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.9.5.</TD><TD STYLE="text-align: justify">With this arrangement, ProQR deliberately
                                            deviates from best practice provision 3.2.3 of the Dutch Corporate Governance Code, which
                                            stipulates that severance pay for executive directors is, in principle, capped at one year&rsquo;s
                                            salary. Thus, in 2025, the CNC Committee not only substantially expanded De Boer&rsquo;s
                                            stock option packages but also significantly strengthened his contractual rights and position
                                            of protection in the context of a potential takeover. The argument that such a deviation
                                            is necessary to retain a highly qualified board cannot serve as an explanation given De Boer&rsquo;s
                                            long tenure and is therefore entirely insufficient. Furthermore, no explanation has been
                                            provided as to what alternative measures have been taken to achieve the objective of this
                                            best practice provision.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.10.</B></TD><TD STYLE="text-align: justify"><B>AGM26 and the proposals to
                                            expand capital authorization powers</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.1.</TD><TD STYLE="text-align: justify">Prior to filing this petition, VHI
                                            et al. consulted with other shareholders regarding their views on the governance issues at
                                            ProQR. It became apparent that the objections raised by VHI et al. are widely shared. VHI
                                            et al. subsequently awaited the general meeting of shareholders on June&nbsp;2, 2026 (&ldquo;<B>AGM26</B>&rdquo;)
                                            to assess whether and to what extent the Board would be willing to take these objections
                                            seriously and implement appropriate corrective measures.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>101</SUP></TD><TD STYLE="text-align: justify"><I>Ibid</I>.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">However, AGM26 confirmed that the
Board has no intention of addressing the identified governance issues. On the contrary, through the proposals adopted at the 2026 General
Meeting, the Board sought to further strengthen its position at the expense of the shareholders. In doing so, the Board reinforces the
impression that it is placing its own interests above those of the company and its stakeholders. This unwillingness on the part of the
Board has prompted VHI et al. to file the present petition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.2.</TD><TD STYLE="text-align: justify">On May&nbsp;4, 2026, ProQR published
                                            the notice convening AGM26. The agenda included, among other items, (i)&nbsp;changes to the
                                            composition of the Board and (ii)&nbsp;three related proposals aimed at expanding the Board&rsquo;s
                                            capital powers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.3.</TD><TD STYLE="text-align: justify">Although VHI et al. view the resignation
                                            of Valerio and Lawton as positive, this does not detract from the core of their objections:
                                            neither was eligible for reappointment. Their departure is a regular development, not a measure
                                            that addresses the governance issues (see &sect; 4.3). This development does not alter the
                                            fact that ProQR&rsquo;s governance remains structurally deficient as long as Shannon continues
                                            to serve on the Board in violation of the Board Rules&nbsp;and the Corporate Governance Code,
                                            and the CNC Committee is chaired by a non-independent chairperson (see &sect; 4.3).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.4.</TD><TD STYLE="text-align: justify">The three related proposals regarding
                                            capital authorizations collectively aim to (i)&nbsp;significantly increase the authorized
                                            capital, (ii)&nbsp;a multi-year and very broad authorization for the Board to issue shares
                                            with the exclusion of preemptive rights, and (iii)&nbsp;an authorization to repurchase its
                                            own shares, thereby granting the Board, on balance, far-reaching discretionary control over
                                            the company&rsquo;s capital structure.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.5.</TD><TD STYLE="text-align: justify">VHI et al. voted against these agenda
                                            items. The combined effect of these proposals essentially amounts to the Board being granted
                                            carte blanche with regard to ProQR&rsquo;s capital structure. In practice, this enables the
                                            Board to substantially dilute existing shareholders, issue shares without pre-emptive rights,
                                            repurchase and reissue treasury shares, and do all of this without further approval from
                                            the general meeting and for a long-term period of five years.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.6.</TD><TD STYLE="text-align: justify">Furthermore, the Board has not cited
                                            any specific transaction, financing need, or strategic necessity that would justify the scope
                                            of these authorizations. In fact, the Board has asked shareholders to agree to potential
                                            substantial dilution and broad repurchase powers based solely on trust in the Board. This
                                            fits into a broader pattern in which the Board acts primarily based on its own views, without
                                            sufficient regard for the interests of the shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.7.</TD><TD STYLE="text-align: justify">Furthermore, the scope of the proposed
                                            authorizations deviates from what is customary in the Dutch market. The proposals lack material
                                            restrictions, such as a cap on general issuances, a phased or conditional approval mechanism,
                                            as well as adequate safeguards for transactions with related parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.8.</TD><TD STYLE="text-align: justify">It is also important to note that
                                            such broad dilution powers can substantially undermine the position of (critical) shareholders.
                                            In particular, dilution may result in shareholders no longer meeting the capital requirements
                                            for filing an inquiry request with the Enterprise Chamber, thereby materially limiting access
                                            to legal protection. This increases the risk that the Board will evade effective oversight.
                                            Against this backdrop, the Board should first have addressed the existing governance issues
                                            before seeking such far-reaching powers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.9.</TD><TD STYLE="text-align: justify">Despite the objections raised by
                                            VHI et al., which they shared with the Board prior to the 2026 General Meeting, the agenda
                                            items were adopted during the 2026 General Meeting. This outcome underscores the core of
                                            the present request: the Board acts primarily from its own perspective, without taking sufficient
                                            account of the interests of shareholders, and has further strengthened its position in a
                                            manner that hinders effective oversight. The approval of these capital powers therefore reinforces
                                            the necessity of the inquiry requested by VHI et al.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.10.</TD><TD STYLE="text-align: justify">It is telling that even after the
                                            AGM26, the Board refused to address the substance of the objections raised by VHI et al.
                                            On June&nbsp;9, 2026, De Boer, on behalf of ProQR, responded via email to the objections
                                            previously raised by VHI et al.<SUP>102</SUP> In this response, however, the Board did not
                                            address the substance of the objections. De Boer merely referred to the general explanations
                                            the Board had allegedly provided during the 26th General Meeting and stated that the Board
                                            would exercise its powers regarding the capital structure exclusively in the interest of
                                            ProQR&rsquo;s mission and its stakeholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.10.11.</TD><TD STYLE="text-align: justify">The general explanations provided
                                            by the Board during the 2026 General Meeting cannot be regarded as a substantive response
                                            to the objections raised by VHI et al.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>4.11.</B></TD><TD STYLE="text-align: justify"><B>Recent Capital Issuance Confirms
                                            VHI et al.&rsquo;s Concerns</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.11.1.</TD><TD STYLE="text-align: justify">Shortly after the AGM, on June&nbsp;25,
                                            2026, ProQR announced a capital issuance totaling approximately USD 50 million, consisting
                                            of a public offering and a simultaneous private placement to Eli Lilly.<SUP>103</SUP> The
                                            manner in which this transaction was structured confirms the objections raised by VHI et
                                            al. and illustrates the structural governance issues at ProQR.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>102</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;43</U></B>:
                                            Email exchange between Chahal and De Boer dated June&nbsp;9, 2026.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>103</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;44</U></B>:
                                            ProQR press release regarding the capital issuance dated June&nbsp;25, 2026.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.11.2.</TD><TD STYLE="text-align: justify">The Board of Directors utilized the
                                            expanded capital powers obtained during the Annual General Meeting of 2026 (see &sect; 4.10)
                                            almost immediately to issue shares with the exclusion of preemptive rights. The issuance
                                            took place only about three weeks after the 2026 General Meeting, which indicates that 2026
                                            transaction was already in preparation prior to, or at least at the time of, the 2026 General
                                            Meeting. This is all the more relevant given that, in its requests to expand the capital
                                            authorization powers, the Board did not specify any concrete proposed transaction that would
                                            justify such an expansion, whereas it subsequently became apparent that such a transaction
                                            was apparently already being prepared. This constitutes a failure to provide shareholders
                                            with complete information regarding a decision that directly affects their rights. This conduct
                                            confirms the pattern previously identified by VHI et al., namely that the Board demonstrates
                                            insufficient self-criticism and is unable to adequately account for its actions to the shareholders
                                            (see &sect;&sect; 4.7 and 4.8).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.11.3.</TD><TD STYLE="text-align: justify">Furthermore, VHI et al. were not
                                            given the opportunity to participate in this capital issuance, whereas in previous capital
                                            increases they were allowed to maintain their interest on a pro rata basis. At the same time,
                                            Eli Lilly was given the opportunity to participate in the private placement. This unequal
                                            treatment is all the more problematic given that VHI et al., as shareholders, have repeatedly
                                            and substantively criticized the Board&rsquo;s performance, whereas Eli Lilly is regarded
                                            as a valued partner by the Board. This course of events confirms the concern previously expressed
                                            by VHI et al. that the Board pays insufficient attention to the legitimate interests of all
                                            shareholders. The inadequate checks and balances that VHI et al. previously raised are thus
                                            also evident in the decision-making surrounding this capital issuance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">4.11.4.</TD><TD STYLE="text-align: justify">The capital issuance and the associated
                                            course of events thus confirm that the governance issues previously identified by VHI et
                                            al. are not merely theoretical, but translate into concrete decision-making that harms the
                                            interests of shareholders. This specific case underscores the broader pattern of structural
                                            dysfunction on the part of the Board, as already set forth by VHI et al. in this petition,
                                            and reinforces the necessity of the measures sought by VHI et al. in these proceedings.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>WELL-FOUNDED REASONS TO DOUBT
                                            THE CORRECT POLICY AND PROPER COURSE OF ACTION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.1.</B></TD><TD STYLE="text-align: justify"><B>Introduction</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.1.1.</TD><TD STYLE="text-align: justify">It follows from the facts set forth
                                            above that there are well-founded reasons to doubt the soundness of ProQR&rsquo;s policies
                                            and the proper course of action (Article&nbsp;2:350 of the Dutch Civil Code). The Board has
                                            shown no, or at least insufficient, regard for compliance with its own governance standards
                                            and, consequently, for the interests of ProQR and its stakeholders. Compliance with governance
                                            standards is essential, particularly for a publicly traded company. This breach of governance
                                            must be viewed in the broader context of a board that lacks innovation and suffers from a
                                            shortage of sufficient independent and critical oversight (particularly with regard to key
                                            positions within the Board), resulting in the risk of nepotism and groupthink. VHI et al.
                                            will explain below that these problems are reflected in ProQR&rsquo;s entire business operations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.1.2.</TD><TD STYLE="text-align: justify">VHI et al. have repeatedly, and to
                                            no avail, brought their objections to ProQR&rsquo;s attention. The Board appears unwilling
                                            to address the failure to comply with governance standards, as evidenced by ProQR&rsquo;s
                                            brief letter in which it simply dismissed VHI et al.&rsquo;s proposals without providing
                                            a thorough justification (see &sect; 4.7.4). In subsequent correspondence as well, ProQR
                                            refused to acknowledge the problematic governance. This pattern continued at the 2026 General
                                            Meeting, where the Board once again failed to address the substance of VHI et al.&rsquo;s
                                            objections and, instead, further strengthened its own position at the expense of the shareholders
                                            (see &sect; 4.10). This conduct underscores that there are well-founded reasons to doubt
                                            the soundness of ProQR&rsquo;s policies and the proper course of action.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.2.</B></TD><TD STYLE="text-align: justify"><B>Legal Framework</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.2.1.</TD><TD STYLE="text-align: justify">Directors of a Dutch public limited
                                            company (N.V.) must, in the performance of their duties, act in the best interests of the
                                            company and its affiliated entities (Article&nbsp;2:129(5)&nbsp;of the Dutch Civil Code).
                                            In a one-tier governance structure, this also applies to non-executive directors.<SUP>104</SUP>
                                            The corporate interest does not consist of a single interest, but rather a multitude of interests
                                            that must be weighed against one another.<SUP>105</SUP> In making this assessment, directors
                                            must take into account the interests of all relevant stakeholders, including those of shareholders.<SUP>106</SUP>
                                            If an enterprise is affiliated with a company, the company&rsquo;s interest is, as a rule,
                                            primarily determined by promoting the sustained success of that enterprise.<SUP>107</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.2.2.</TD><TD STYLE="text-align: justify">To promote the business&rsquo;s sustained
                                            success, it is important, among other things, that the company implements its policies within
                                            the boundaries of the governance framework that applies to it.<SUP>108</SUP> This is also
                                            important because the governance framework is one of the factors on the basis of which a
                                            shareholder considers an investment in a corporation. <SUP>109</SUP> In the case of a publicly
                                            traded corporation, governance also includes the (application of) the Corporate Governance
                                            Code (see &sect; 4.2.3).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.2.3.</TD><TD STYLE="text-align: justify">According to the Supreme Court, the
                                            Corporate Governance Code reflects the prevailing general legal principles in the Netherlands.
                                            More specifically, the Corporate Governance Code, among other things, gives concrete form
                                            to (i)&nbsp;the requirements of reasonableness and fairness under Article&nbsp;2:8 of the
                                            Dutch Civil Code, and to (ii)&nbsp;the requirements arising from arising from the proper
                                            performance of duties pursuant to Article&nbsp;2:9 of the Dutch Civil Code.<SUP>110</SUP>
                                            Failure to comply with the Corporate Governance Code, as well as acting in violation of the
                                            company&rsquo;s own governance policies, thus constitutes a violation of Articles 2:8 and
                                            2:9 of the Dutch Civil Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>104</SUP></TD><TD STYLE="text-align: justify">M.P. Nieuwe
                                            Weme&nbsp;&amp; T. Salemink, <I>Asser/Nieuwe Weme&nbsp;&amp; Salemink</I>, 2-IIb 2025/127.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>105</SUP></TD><TD STYLE="text-align: justify">L. Timmerman,
                                            <I>&ldquo;Fundamentals of Current Corporate Law</I>,<I>&rdquo; Ondernemingsrecht, No.&nbsp;2</I>,
                                            January&nbsp;26, 2009.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>106</SUP></TD><TD STYLE="text-align: justify">Supreme Court,
                                            July&nbsp;9, 2010, ECLI:NL:HR:2010:BM0976 (<I>ASMI</I>), para. 4.4.1.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>107</SUP></TD><TD STYLE="text-align: justify">Supreme Court,
                                            April&nbsp;4, 2014, ECLI:NL:HR:2014:797 (<I>Cancun</I>), para. 4.2.1.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>108</SUP></TD><TD STYLE="text-align: justify">S.B. Garcia
                                            Nelen, <I>The Publicly Traded Company, Corporate Governance, and Strategy (Institute for
                                            Corporate Law No.&nbsp;120</I>, Deventer: Wolters Kluwer 2020, p. 185 ff.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>109</SUP></TD><TD STYLE="text-align: justify">S.B. Garcia
                                            Nelen, <I>The Listed Company, Corporate Governance, and Strategy (Institute for Corporate
                                            Law No.&nbsp;120</I>, Deventer: Wolters Kluwer 2020, p. 130 et seq.</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>110</SUP></TD><TD STYLE="text-align: justify">Supreme Court,
                                            July&nbsp;13, 2007, ECLI:NL:HR:2007:BA7970 (<I>ABN Amro</I>), para. 4.4, and Supreme Court,
                                            July&nbsp;9, 2010, ECLI:NL:HR:2010:BM0976 (<I>ASMI</I>), paras. 4.4.1&ndash;4.4.2. See also
                                            Amsterdam Court of Appeal (Enterprise Chamber), ECLI:NL:GHAMS:2025:3290, para. 4.11.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.3.</B></TD><TD STYLE="text-align: justify"><B>Shannon&rsquo;s reappointment
                                            violates the Corporate Governance Code</B>, <B>the Board Rules, and commitments made</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.1.</TD><TD STYLE="text-align: justify">By reappointing Shannon, ProQR acted
                                            in violation of its own governance framework. Shannon&rsquo;s reappointment is at odds with
                                            ProQR&rsquo;s entire governance framework -namely, the Articles of Incorporation, the Board
                                            Rules, and the Corporate Governance Code - as well as with the commitment made on May&nbsp;6,
                                            2024, that Shannon would not be reappointed again after the 2024 Annual General Meeting.
                                            This failure to comply with governance standards raises well-founded doubts about the soundness
                                            of ProQR&rsquo;s policies and practices. VHI et al. explain this in detail.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.2.</TD><TD STYLE="text-align: justify">Through its governance, ProQR has
                                            committed to a maximum cumulative term of office of twelve years for non-executive directors
                                            (see &sect; 4.2.7). Based in part on the governance framework, the parties make the decision
                                            to invest in companies; this was also the case for VHI et al. when they decided to invest
                                            in ProQR in 2023. Following the commitment made on May&nbsp;6, 2024, regarding Shannon&rsquo;s
                                            reappointment, VHI et al. further expanded their equity interest.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.3.</TD><TD STYLE="text-align: justify">Nevertheless, at the AGM25, Shannon
                                            was reappointed for a four-year term, even though he had already served nine years as a non-executive
                                            director (and supervisory board member) at that time. As a result of the reappointment, Shannon&rsquo;s
                                            cumulative term of office exceeds the prescribed twelve years. This reappointment of Shannon
                                            involves the following governance violations:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a)</TD><TD STYLE="text-align: justify">Shannon&rsquo;s reappointment violates
                                            the maximum term of twelve years prescribed by the Board Rules&nbsp;and the Corporate Governance
                                            Code;<SUP>111</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b)</TD><TD STYLE="text-align: justify">the reappointment violates the reappointment
                                            terms prescribed by both (i)&nbsp;the Board Rules&nbsp;and (ii)&nbsp;the Corporate Governance
                                            Code, which allow for reappointments of two four-year terms and two two-year terms. At AGM25,
                                            Shannon was reappointed for four years after a cumulative term of nine years, whereas, under
                                            the Board Rules&nbsp;and the Corporate Governance Code, this should have been for a maximum
                                            of two years;<SUP>112</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c)</TD><TD STYLE="text-align: justify">In its explanation of the agenda items
                                            for AGM25 and during AGM25, ProQR did not carefully justify why a reappointment of Shannon&rsquo;s
                                            term of office has expired after eight years, as required by the Corporate Governance Code;<SUP>113</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>111</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;12
                                            (ProQR Board Rules&nbsp;dated December&nbsp;2, 2025), Article&nbsp;3.5, and Exhibit&nbsp;13
                                            (Dutch Corporate Governance Code dated March&nbsp;2025), best practice provision 2.2.2.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>112</SUP></TD><TD STYLE="text-align: justify"><I>Ibid</I>.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>113</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;12
                                            (ProQR Board Rules&nbsp;dated December&nbsp;2, 2025), Article&nbsp;3.5; Exhibit&nbsp;13 (Dutch
                                            Corporate Governance Code dated March&nbsp;2025), best practice provision 2.2.2; and Exhibit&nbsp;31
                                            (Explanatory Notes to the Agenda for ProQR&rsquo;s 2025 Annual General Meeting), p. 5.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d)</TD><TD STYLE="text-align: justify">ProQR failed to mention, in its explanation
                                            of the agenda items for AGM25 and during AGM25, that Shannon&rsquo;s reappointment is in
                                            violation of its own governance rules&nbsp;(the Board Rules&nbsp;and the Corporate Governance
                                            Code);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e)</TD><TD STYLE="text-align: justify">ProQR, in violation of the Corporate
                                            Governance Code, failed to (i)&nbsp;explain what alternative measures it is taking to achieve
                                            the objective of the best practice provision of the Corporate Governance Code from which
                                            it is deviating, or (ii)&nbsp;clarify how the measure it has taken contributes to sound corporate
                                            governance of the company (see &sect; 4.5.1);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">f)</TD><TD STYLE="text-align: justify">the reappointment is contrary to what
                                            was discussed between VHI et al. and Beukema on May&nbsp;6 (see &sect; 4.5.2); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">g)</TD><TD STYLE="text-align: justify">the reappointments for a four-year term
                                            indicate that ProQR lacks a sound succession plan for executive and non-executive directors,
                                            as required by the Board Rules&nbsp;and the Corporate Governance Code, and that ProQR is
                                            also acting in violation of best practice provisions 2.2.6 and 2.2.7 of the Corporate Governance
                                            Code by failing to disclose the key findings and conclusions of the evaluations of the board&rsquo;s
                                            composition, as well as what has been or will be done with the conclusions of the evaluations
                                            (see &sect; 4.2.14).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.4.</TD><TD STYLE="text-align: justify">Furthermore, the Board itself acknowledges
                                            the governance violations resulting from Shannon&rsquo;s reappointment but, despite numerous
                                            attempts by VHI et al., consistently refuses to comply with its own governance standards.
                                            For example, in its letter of August&nbsp;19, 2025 - following the reappointments - the Board
                                            acknowledged that the composition of the Board in key positions is inconsistent with its
                                            own governance:<SUP>114</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>In the Board&rsquo;s governance
review ahead of the AGM, it was acknowledged that the nomination of Dr.&nbsp;Shannon would not fully fit within the best practices framework
of the DCGC and would require an exception under, or amendment of, the Board Rules.</I>&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.5.</TD><TD STYLE="text-align: justify">And on March&nbsp;2, 2026, ProQR acknowledged
                                            that a thorough (re)appointment process had not been followed:<SUP>115</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>And we will follow a thorough
(re)appointment process in the future</I>.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.6.</TD><TD STYLE="text-align: justify">There was no mention of any explicitly
                                            stated exception or amendment to the Board Rules.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>114</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), p. 3.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>115</SUP></TD><TD STYLE="text-align: justify">Exhibit&nbsp;39
                                            (Email exchange between Chahal and De Boer dated March&nbsp;2, 2026).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.7.</TD><TD STYLE="text-align: justify">It is concerning that the Board shared
                                            its acknowledgment of the governance violation only with VHI et al. and not with its broader
                                            shareholder base. This audience lacks any understanding that Shannon&rsquo;s reappointment
                                            violates ProQR&rsquo;s governance&mdash;and that the Board was aware of this in advance.
                                            The Board has, in fact, failed to explain in general terms that Shannon&rsquo;s reappointment
                                            violates both the Board Rules&nbsp;and the Corporate Governance Code, let alone provide a
                                            rationale for why, in its view, the reappointment could proceed despite this. It would have
                                            been the Board&rsquo;s responsibility to also inform its other shareholders of the governance
                                            violation, and to do so prior to the AGM25. The Board failed to do so, meaning that shareholders
                                            were unable to take this crucial information into account when casting their votes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.8.</TD><TD STYLE="text-align: justify">Other fundamental information was
                                            also lacking during the AGM25 to enable shareholders to make an informed voting decision.
                                            For example, it was - and still is -not sufficiently clear why the reappointments of De Boer
                                            and Shannon would be in the company&rsquo;s best interest (see &sect; 4.6.3) and why the
                                            Board is deviating from the previously established rotation schedule. The only brief explanation
                                            provided is that retaining their experience is important. This explanation does not meet
                                            the requirements of the Board Rules&nbsp;and the Corporate Governance Code, even assuming
                                            such a reappointment would be permissible.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.9.</TD><TD STYLE="text-align: justify">Even after repeated requests from
                                            VHI et al., the Board has failed to provide the requested justification. This conduct by
                                            the Board is at odds with the objective of best practice provision 4.2.2 of the Corporate
                                            Governance Code, which stipulates that the Board must be accountable to its shareholders.
                                            ProQR&rsquo;s most recent management report deviated from this provision, but ProQR failed
                                            to explain how it intends to achieve the objective of this provision by other means. In this
                                            sense as well, there has been a violation of the Corporate Governance Code.<SUP>116</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.10.</TD><TD STYLE="text-align: justify">The fact that the voting results
                                            for the reappointments were predominantly positive cannot be viewed in isolation from the
                                            fact that shareholders were not informed that Shannon&rsquo;s reappointment, <I>in and of
                                            itself</I>, is already in violation of ProQR&rsquo;s governance principles, and that the
                                            Board failed to adequately explain both reappointments. Nevertheless, the overwhelming majority
                                            of votes cast were in favor of the reappointments (see &sect; 4.6.14). This provided all
                                            the more reason for VHI et al. to urge, in the Letter of Objection, that the Board issue
                                            a public announcement informing shareholders that De Boer and Shannon will serve on the Board
                                            through the 2026 annual general meeting, so that this time, shareholders can form an informed
                                            opinion regarding a potential reappointment. ProQR therefore incorrectly asserts that VHI
                                            et al. did not explain why De Boer&rsquo;s reappointment should be reversed after 2026. Be
                                            that as it may, the fact remains that two of ProQR&rsquo;s major long-term investors who
                                            are closely involved with ProQR and its business - namely, VHI et al. and Aescap - (i)&nbsp;have
                                            determined that the reappointments violate governance principles and are also not in the
                                            best interests of ProQR and (ii)&nbsp;that ProQR consistently dismisses these objections
                                            without providing a reasoned response to the objections raised by VHI et al. or thoroughly
                                            substantiating its policy decisions. In its explanation, ProQR does little more than attempt
                                            to refute the objections by stating, in a perfunctory manner and without convincing justification,
                                            that ProQR is performing well, that the Board is self-critical and proactive, and that the
                                            reappointments of De Boer and Shannon are in the company&rsquo;s best interest, as it is
                                            important to retain their experience on the Board. This pattern continued during the AGM26,
                                            where, despite the objections previously raised by VHI et al., the Board pushed through the
                                            expansion of capital authorization powers without adequate explanation and without addressing
                                            the concerns raised (see &sect; 4.10). There is a complete lack of reassurance for its major
                                            long-term investor, and thus, in violation of governance principles, there is insufficient
                                            accountability toward its shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>116</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR 2025 Annual Report), p. 36.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.11.</TD><TD STYLE="text-align: justify">Furthermore, it is troubling that
                                            ProQR&rsquo;s letter actually demonstrates that the Board does not seem to (or does not wish
                                            to) recognize the seriousness of VHI et al.&rsquo;s objections. VHI et al. are raising these
                                            objections in the interest of the company and ProQR&rsquo;s stakeholders, given the far-reaching
                                            consequences that the breach of governance is already causing at this time. By failing to
                                            address these objections - or refusing to do so - ProQR demonstrates a lack of understanding
                                            of the importance of complying with its own governance standards and is not acting in the
                                            best interests of the company and its stakeholders. The events surrounding the AGM26 underscore
                                            this view.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.12.</TD><TD STYLE="text-align: justify">The foregoing demonstrates that the
                                            Board is failing to comply with its own governance standards and is therefore acting in violation
                                            of Article&nbsp;2:8 of the Dutch Civil Code (see &sect; 5.2.3). This gives rise to well-founded
                                            reasons to doubt the soundness of its policies or conduct and, according to the established
                                            case law of the Enterprise Chamber, even leads to a finding of mismanagement.<SUP>117</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.13.</TD><TD STYLE="text-align: justify">In a number of these decisions, the
                                            Enterprise Chamber&rsquo;s ruling is even explicitly (in part) based on non-compliance with
                                            the (predecessors of the) Corporate Governance Code:<SUP>118</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;<I>The supervisory board, in violation
of its own bylaws and Recommendation 2.2 of the Peters Commission </I>[the predecessor to the Corporate Governance Code, note by counsel]<I>,
did not even draw up a written profile for the purpose of nominating a third supervisory board member</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.14.</TD><TD STYLE="text-align: justify">And:<SUP>119</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>117</SUP></TD><TD STYLE="text-align: justify">For a finding
                                            of mismanagement resulting from, among other things, non-compliance with governance standards,
                                            see, among others: Amsterdam Court of Appeal (Enterprise Chamber) July&nbsp;6, 2006, ECLI:NL:GHAMS:2006:AY0520,
                                            Amsterdam Court of Appeal (Enterprise Chamber) July&nbsp;9, 2014, ECLI:NL:GHAMS:2014:2691,
                                            Amsterdam Court of Appeal (Enterprise Chamber) January&nbsp;24, 2020, ECLI:NL:GHAMS:2020:144.
                                            And for reasons to doubt the correctness of a policy or course of action: Amsterdam Court
                                            of Appeal (Enterprise Chamber) July&nbsp;4, 2016, ECLI:NL:GHAMS:2016:2716, Amsterdam Court
                                            of Appeal (Enterprise Chamber) December&nbsp;22, 2017, ECLI:NL:GHAMS:2017:5493, Amsterdam
                                            Court of Appeal (Enterprise Chamber) January&nbsp;26, 2018, ECLI:NL:GHAMS:2018:189, Amsterdam
                                            Court of Appeal (Enterprise Chamber) June&nbsp;20, 2019, ECLI:NL:GHAMS:2019:2099, and Amsterdam
                                            Court of Appeal (Enterprise Chamber) September&nbsp;17, 2020, ECLI:NL:GHAMS:2020:2474.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>118</SUP></TD><TD STYLE="text-align: justify">Amsterdam
                                            Court of Appeal (Enterprise Chamber), December&nbsp;15, 2011, ECLI:NL:GHAMS:2011:BU8414,
                                            para. 4.121.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>119</SUP></TD><TD STYLE="text-align: justify">Amsterdam
                                            Court of Appeal (Enterprise Chamber), February&nbsp;15, 2012, ECLI:NL:GHAMS:2013:BZ1149,
                                            para. 9.3.18.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&quot;The Enterprise Chamber considers
the composition of the supervisory board during the period from May&nbsp;22, 2008, to May&nbsp;7, 2009, to be inadequate. At that time,
the supervisory board consisted of only two members (&hellip;). This number is (&hellip;) in violation of Annex A to the Principles and
Best Practices for the supervisory board (&hellip;). Furthermore, McNally did not meet the independence criteria as set forth at the
time in Best Practice Provision III. 2.2(c)&nbsp;of the Corporate Governance Code.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.3.15.</TD><TD STYLE="text-align: justify">Even cases in which a company has
                                            since taken measures to improve governance cannot detract from the fact that governance was
                                            deficient during the period under investigation. This results in mismanagement:<SUP>120</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>The fact that measures have
since been taken to improve corporate governance (see section 2.46 above) does not alter the fact that corporate governance was deficient
during the period under investigation. </I>(&hellip;) <I>The above considerations, viewed in conjunction with the deficiencies identified
by the investigator regarding financial reporting, internal control, and corporate governance, lead to the conclusion that mismanagement
occurred at Greenchoice</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In the case of ProQR, no corrective
measures were even taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.4.</B></TD><TD STYLE="text-align: justify"><B>Governance violations are
                                            linked to broader issues</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.1.</TD><TD STYLE="text-align: justify">The governance violation resulting
                                            from Shannon&rsquo;s reappointment does not stand alone. This non-compliance must be viewed
                                            within a broader trend in which directors remain in office for exceptionally long periods
                                            without a credible plan for succession and renewal, resulting in groupthink and a lack of
                                            sufficient independent and critical oversight (see &sect; 4.1.7 et seq.). This state of affairs
                                            also raises doubts about the appropriateness of the policy and proper course of action.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.2.</TD><TD STYLE="text-align: justify">Prior to the AGM26, the Board consisted
                                            of nine members: two executive directors and seven non-executive directors. Of the non-executive
                                            directors, three were at or above the maximum cumulative term of twelve years at that time:
                                            Shannon (thirteen years), Valerio (twelve years), and Lawton (twelve years). As of the AGM26,
                                            Valerio and Lawton have stepped down, but this does not detract from the deficiencies in
                                            ProQR&rsquo;s governance (see also &sect; 4.8.6 et seq.). Shannon still has a cumulative
                                            term of thirteen years, well above the permitted maximum. The individuals who have served
                                            on the Board for a long time primarily hold key positions, namely those of CEO and Chair
                                            (see &sect; 4.1.4).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.3.</TD><TD STYLE="text-align: justify">The long cumulative terms of office
                                            and the reappointments for four-year periods demonstrate that ProQR lacks a sound succession
                                            plan for directors (see &sect; 4.8.9), as required by the Board Rules&nbsp;and the Corporate
                                            Governance Code. This is the cause of groupthink, the (risk of) nepotism, and a lack of independent
                                            and critical oversight within the Board (see &sect; 4.2.8).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>120</SUP></TD><TD STYLE="text-align: justify">Amsterdam
                                            Court of Appeal (Enterprise Chamber) July&nbsp;9, 2014, ECLI:NL:GHAMS:2014:2691, para. 5.5.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In doing so, the non-executive directors
are in violation of Article&nbsp;5.3 of the Board Rules&nbsp;and best practice provisions 2.2.6 and 2.2.7 of the Corporate Governance
Code by failing to include the key findings and conclusions of the mandatory evaluations in their report.<SUP>121</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.4.</TD><TD STYLE="text-align: justify">The rationale behind a maximum term
                                            of office is that the independence of a non-executive director diminishes over the years.
                                            <SUP>122</SUP> The longer a non-executive director is involved with a company, the more closely
                                            he becomes intertwined with the company. <SUP>123</SUP> This risk applies all the more to
                                            the chairman, especially now that Shannon is tasked with ensuring the proper functioning
                                            of the board (see &sect; 4.2.16).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.5.</TD><TD STYLE="text-align: justify">It is reprehensible that the Board
                                            acts in violation of the Corporate Governance Code and the Board Rules&nbsp;without providing
                                            a reasoned explanation. This is all the more relevant given that the disappointing performance
                                            should have prompted critical self-reflection and an adjustment to the Board&rsquo;s composition,
                                            even after repeated confrontations with these violations by VHI et al.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.6.</TD><TD STYLE="text-align: justify">In doing so, the Board is also acting
                                            in violation of the commitment made in its most recent management report to present deviations
                                            from the Corporate Governance Code to the shareholders as a separate agenda item.<SUP>124</SUP>
                                            In the majority of cases, the Board has not explained the deviation from the Corporate Governance
                                            Code, let alone presented it as a separate agenda item (see &sect; 4.5.1).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.7.</TD><TD STYLE="text-align: justify">The tendency toward groupthink and
                                            the lack of independent oversight thus raise the broader question of whether the non-executive
                                            directors are truly equipped to fulfill their supervisory duties. In the Enterprise Chamber&rsquo;s
                                            decision regarding Van Der Moolen Holding (&ldquo;<B>VDM</B>&rdquo;), the composition of
                                            the non-executive directors&mdash;which was inconsistent with VDM&rsquo;s governance&mdash;had
                                            already led to a finding of mismanagement:<SUP>125</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&ldquo;Furthermore, the supervisory
board consisted of three members as of August&nbsp;2007 and of two members as of May&nbsp;2008. This prolonged, inadequate composition
of the supervisory board&mdash;in light of the board&rsquo;s own &ldquo;Principles and Best Practices,&rdquo; which, after all, stipulate
that the board must consist of five members - raises the question of whether the board was still capable of fulfilling its supervisory
duties</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>121</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;12
                                            (ProQR Board Rules&nbsp;dated December&nbsp;2, 2025), Article&nbsp;5.3, and Exhibit&nbsp;13
                                            (Dutch Corporate Governance Code dated March&nbsp;2025), best practice provisions 2.2.6 and
                                            2.2.7.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>122</SUP></TD><TD STYLE="text-align: justify">N. Kreileman,
                                            The Non-Executive Director in a One-Tier Board (Van der Heijden Institute Series&nbsp;No.&nbsp;168),
                                            dissertation, Nijmegen, Deventer: Wolters Kluwer 2020, pp. 240&ndash;245.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>123</SUP></TD><TD STYLE="text-align: justify">Coyle 2019,
                                            p. 69; Koster, MvO 2018, issues 5&ndash;6, p. 155; and Van Zijl 2012, p. 189. The UK Corporate
                                            Governance Code 2024 even emphasizes that a non-executive director is considered dependent
                                            if that person has served on the board for more than nine consecutive years; see provision
                                            2.10.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>124</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025), p. 27<I>.</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>125</SUP></TD><TD STYLE="text-align: justify">Amsterdam
                                            Court of Appeal (Enterprise Chamber) July&nbsp;5, 2010, ECLI:NL:GHAMS:2010:BN0252, para.
                                            3.19, and Amsterdam Court of Appeal (Enterprise Chamber) February&nbsp;15, 2013, ECLI:NL:GHAMS:2013:BZ1149,
                                            para. 9.3.18.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.8.</TD><TD STYLE="text-align: justify">Furthermore, the inadequate composition
                                            of VDM&rsquo;s supervisory body had a negative impact on the company&rsquo;s operations,
                                            resulting in bankruptcy:<SUP>126</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;<I>This governance deficiency
is all the more critical in light of the problems that arose in developing the necessary new activities and the financial challenges
Van der Moolen faced</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">There is no question that a VDM-type
situation must be prevented at ProQR, and this requires little explanation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.9.</TD><TD STYLE="text-align: justify">To prevent a VDM-type situation, ProQR
                                            must adhere to its own governance standards. The breach of governance is already having negative
                                            consequences for business operations (see &sect; 5.6 et seq.). In line with the consistent
                                            case law of the Enterprise Chamber, this provides well-founded reasons to doubt the soundness
                                            of the company&rsquo;s policies and proper course of action.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.10.</TD><TD STYLE="text-align: justify">The breach of governance and the
                                            refusal to address it demonstrate that the Board is neither self-critical nor proactive.
                                            The two appointments of non-executive directors over the past three years do not alter this:
                                            VHI et al. find it particularly concerning that key positions remain unchanged, as ProQR
                                            has implicitly confirmed:<SUP>127</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><I>&ldquo;At the same time, and particularly
given the renewed management team, the Board considers focusing on the stability and continuity of the Company&rsquo;s board oversight
and leadership to be critical for future success. It is in this spirit that the Board nominated Dr.&nbsp;Shannon and Mr.&nbsp;De Boer
each for another four-year term</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.11.</TD><TD STYLE="text-align: justify">ProQR&rsquo;s argument that (i)&nbsp;the
                                            current board composition, including the reappointments of De Boer and Shannon, is necessary
                                            to bridge the gap between the Dutch and U.S. governance systems, and (ii)&nbsp;longer terms
                                            of office for board members are much more common in the U.S. than in the Netherlands, does
                                            not hold water. ProQR must simply adhere to its own (Dutch) governance structure.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.4.12.</TD><TD STYLE="text-align: justify">ProQR&rsquo;s position that longer
                                            terms of office are common within the U.S. biotechnology sector is not supported by the Accuracy
                                            Report. On the contrary, the peer comparison shows that ProQR stands out due to the longest
                                            tenure of its longest-serving director and the highest degree of interconnection through
                                            external positions. ProQR thus deviates from its relevant peers, which confirms the concerns
                                            about the quality of its governance.<SUP>128</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">In short, the governance violations,
the Board&rsquo;s response to them, the lack of independent and critical oversight, the failure to provide a serious substantive response
to the objections raised by VHI et al., and the further strengthening of the Board&rsquo;s position during the 2026 Annual General Meeting, each individually and certainly when viewed in conjunction with one
another, provide valid grounds</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>126</SUP></TD><TD STYLE="text-align: justify">Amsterdam
                                            Court of Appeal (Enterprise Chamber), July&nbsp;5, 2010, ECLI:NL:GHAMS:2010:BN0252, para.
                                            3.18.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>127</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), p. 2.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>128</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;10
                                            (Accuracy Report dated July&nbsp;7, 2026), pp. 10 and 11.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.5.</B></TD><TD STYLE="text-align: justify"><B>Disappointing Performance</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.5.1.</TD><TD STYLE="text-align: justify">As a long-term investor, VHI et al.
                                            understand that development processes in the biotech industry take time and that setbacks
                                            in early phases are common. Nevertheless, ProQR cannot simply continue to hide behind this,
                                            as it does in its letter of August&nbsp;29, 2025.<SUP>129</SUP> Furthermore, VHI et al. note
                                            that ProQR is lagging behind its competitors. Whereas ProQR was at the forefront of research
                                            into and development of RNA technology several years ago, it became clear in 2024 and 2025
                                            that it has been overtaken by its competitors (see &sect; 4.4).<SUP>130</SUP> Unlike ProQR,
                                            these competitors have, in fact, already published clinical trial results. It therefore appears
                                            that ProQR has now lost the status of market leader to which it refers,<SUP>131</SUP> has
                                            since been lost. Whether this lag was directly caused by governance violations is irrelevant,
                                            and disappointing performance in and of itself is not a valid reason to doubt the soundness
                                            of a policy. However, it is crucial that - now that performance is lagging and the competition
                                            is advancing - ProQR adhere to its governance obligations, which it is currently failing
                                            to do.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.5.2.</TD><TD STYLE="text-align: justify">It is important for ProQR and its
                                            stakeholders that ProQR produces clinical results for its RNA technology as soon as possible.
                                            ProQR has now been focusing on the development of its RNA technology for three years, but
                                            complete Phase 1 trial results are still lacking, let alone clinical efficacy results. The
                                            longer such results are delayed, the heavier the fixed costs will weigh on ProQR, the less
                                            attractive it will become for companies to enter into or expand a partnership with ProQR,
                                            and the further value creation will recede from view. This risk is also acknowledged by ProQR
                                            itself:<SUP>132</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>We expect to continue to spend
substantial amounts of cash to conduct further research and development and (pre-)clinical testing of our pipeline targets and to seek
regulatory approvals for any current and future product candidates. Based on our current operating plans, we believe that our existing
cash and cash equivalents will be sufficient to fund our anticipated level of operations into mid-2027. Given the development stage of
the Company, we do not anticipate revenues from product sales in the foreseeable future.</I>&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.5.3.</TD><TD STYLE="text-align: justify">The fact that ProQR received approval
                                            in October&nbsp;2025 to begin the clinical development of its Axiomer RNA-editing platform
                                            and published positive initial research results on June&nbsp;25, 2025, is a step in the right
                                            direction, but does not yet guarantee that viable results will be achieved if the motion
                                            is granted, let alone in the short term.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><BR></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>129</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), p. 2.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>130</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;28
                                            (Press releases from Wave (September&nbsp;3, 2025) and Korro (March&nbsp;19, 2025)) and <B>Exhibit&nbsp;45</B>:
                                            Press release<BR>
                                            AIRNA dated May&nbsp;13, 2025.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>131</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), p. 2.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>132</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR Annual Report 2025), pp. 24&ndash;25.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">This development does not negate the
disappointing performance highlighted by VHI et al. The fact remains that the approval and publication of results were delayed, a fact
that was only disclosed retrospectively by De Boer during the <I>&ldquo;Virtual Investor and Analyst Event on </I>AX-0810&rdquo; on November&nbsp;3,
2025, and that ProQR was (once again) unable to meet the previously announced timeline.<SUP>133</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.5.4.</TD><TD STYLE="text-align: justify">This is reflected in ProQR&rsquo;s
                                            stock market value: since 2022, the stock price has fallen by nearly 80%, and since January&nbsp;1,
                                            2025, by another 30% or more. According to an analysis by &ldquo;Simply Wall St&rdquo; -
                                            a platform that monitors companies&rsquo; performance and developments based on in-depth
                                            financial information published by the companies themselves - revenue in 2024 was 3.3% below
                                            analysts&rsquo; expectations, and the loss per share was 7.3% worse than expected.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.5.5.</TD><TD STYLE="text-align: justify">ProQR&rsquo;s disappointing performance
                                            also appears to have caught the attention of its partner, Eli Lilly. Although Eli Lilly has
                                            had the option to expand its collaboration with ProQR for two years now, it has so far deliberately
                                            chosen not to exercise this option (see &sect; 4.4.3). VHI et al. consider the most recent
                                            update on business development to be a watered-down version compared to previous statements
                                            by the Board.<SUP>134</SUP> The failure to expand that collaboration and the absence of new
                                            collaborations with other parties - due to these third parties&rsquo; unwillingness to enter
                                            into collaboration agreements with ProQR (see &sect; 4.4.4) - are indicative of ProQR&rsquo;s
                                            disappointing performance and also pose a risk to ProQR&rsquo;s business. As long as there
                                            is no prospect of profitability or recurring revenue, ProQR remains highly dependent on one-time
                                            income from these collaborations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.5.6.</TD><TD STYLE="text-align: justify">Furthermore, Accuracy notes that to
                                            date, ProQR has realized only 0.1% of the total potential milestone revenue from its collaborations
                                            - including those with Eli Lilly -compared to 1.3% and 5.3%, respectively, for competitors
                                            such as Wave and Beam.<SUP>135</SUP> Accuracy notes in this regard that Eli Lilly invests
                                            in multiple RNA technology platforms and can terminate the collaboration with ProQR without
                                            providing a reason. While ProQR is heavily dependent on Eli Lilly, the reverse is not true.
                                            This increases the risk that Eli Lilly will shift its focus to other RNA platforms if ProQR&rsquo;s
                                            progress stagnates, which appears to be the case.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Accuracy&rsquo;s conclusion that ProQR&rsquo;s
value creation is limited by concerns regarding the composition of the Board, delayed clinical validation, and a highly milestone-dependent
collaboration model confirms what VHI and others have already raised with the Board. The fact that the Board has thus far failed to seriously
investigate the concerns raised by VHI and others constitutes all the more reason to doubt the soundness of the policy and the proper
course of action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>133</SUP></TD><TD STYLE="text-align: justify">ProQR Therapeutics,
                                            &ldquo;Virtual Investor and Analyst Event on AX-0810&rdquo; (webcast), November&nbsp;3, 2025,
                                            timecode 07:30, available on the ProQR Therapeutics website.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>134</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;23
                                            (ProQR press release regarding Q2 2025 results dated August&nbsp;7, 2025), p. 1: <I>&ldquo;Supported
                                            by our strong cash position providing runway into mid-2027, we continue to advance our broader
                                            pipeline, platform, and partnership activities (&hellip;)</I>.&rdquo;</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>135</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;10
                                            (Accuracy Report dated July&nbsp;7, 2026), pp. 16&ndash;18.</TD>
</TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>5.6.</B></TD><TD STYLE="text-align: justify"><B>Compensation policy is not
                                            performance-based and runs counter to the interests of stakeholders</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.1.</TD><TD STYLE="text-align: justify">Despite the disappointing performance,
                                            the entire Board receives substantial annual bonuses. Awarding bonuses during times of adversity
                                            requires an exceptionally careful, concrete, and well-founded justification. This justification
                                            is lacking. Precisely now that governance obligations are systematically being disregarded
                                            and operational and financial performance is lagging, the disproportionate and opaque nature
                                            of the compensation policy runs counter to the interests of the company and ProQR&rsquo;s
                                            stakeholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.2.</TD><TD STYLE="text-align: justify">In the opinion of VHI et al., the
                                            Board is enriching itself at the expense of the company and its shareholders, without demonstrable
                                            value creation. The bonuses are out of proportion to performance, while ProQR is still in
                                            the development phase.<SUP>136</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.3.</TD><TD STYLE="text-align: justify">The Accuracy Report confirms this
                                            picture: ProQR awards the highest bonuses, even though it takes the company relatively the
                                            longest time to achieve clinical progress.<SUP>137</SUP> These funds could also have been
                                            used to accelerate R&amp;D activities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.4.</TD><TD STYLE="text-align: justify">The conduct of the CNC Committee reinforces
                                            the well-founded arguments of VHI et al. In both 2024 and 2025, the CNC Committee awarded
                                            the executive directors substantial variable compensation based on &ldquo;<I>goals </I>realized&rdquo;
                                            <SUP>138</SUP>without substantiating which objectives these were.<SUP>139</SUP> This is at
                                            odds with ProQR&rsquo;s statements during the 2024 Annual General Meeting, in which it announced
                                            that certain objectives for 2023 and/or 2024 had not been achieved (see &sect; 4.5.4). These
                                            unjustified payments and the subsequent lack of justification for them run counter to proper
                                            governance.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.5.</TD><TD STYLE="text-align: justify">This became even more glaring in 2025,
                                            when the CNC Committee awarded De Boer, in particular, disproportionately high compensation
                                            in the form of <I>cash </I>and options (see, among others, &sect; 4.3.13). In 2025, De Boer
                                            received 1,863,587 options, increasing his option portfolio by nearly 50%. This is highly
                                            remarkable in and of itself, given ProQR&rsquo;s performance. Furthermore, 1.4 million of
                                            these options were granted based on conditions that are not transparent to shareholders.
                                            According to the CNC Commission, these conditions are not &ldquo;market-dependent,&rdquo;
                                            whatever that may mean. It is clear that the share price is at a historic low and that these
                                            options could therefore potentially yield enormous profits in the future - should performance
                                            improve. De Boer is thus being doubly rewarded for the decline in the value of ProQR shares:
                                            he receives both more options and a more favorable exercise price. In the opinion of VHI
                                            et al., this course of action violates Article&nbsp;2:8 of the Dutch Civil Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>136</SUP></TD><TD STYLE="text-align: justify"><B><U>Exhibit&nbsp;47</U></B>:
                                            ProQR Investor&nbsp;&amp; Analyst Event dated November&nbsp;3, 2025, p. 13.</TD>
</TR></TABLE>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>137</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;10
                                            (Accuracy Report dated July&nbsp;7, 2026), p. 9.</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>138</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14
                                            (ProQR 2024 Annual Report), p. 87, and Exhibit&nbsp;15 (ProQR 2025 Annual Report), p. 88.</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>139</SUP></TD><TD STYLE="text-align: justify"><I>Ibid.</I></TD>
</TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.6.</TD><TD STYLE="text-align: justify">By granting 1.4 million options based
                                            on unspecified <I>non-market conditions</I>, ProQR is also acting in violation of Article&nbsp;2:135(5)&nbsp;of
                                            the Dutch Civil Code. This provision requires that bonuses in the form of share grants (such
                                            as options) be based on a proposal approved by the general meeting (in practice, a compensation
                                            policy) that specifies how many options may be granted and the conditions applicable thereto:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;<I>The proposal must at least
specify the number of shares or rights to subscribe for shares that may be granted to the Board of Directors and the criteria applicable
to such grants or amendments</I>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.7.</TD><TD STYLE="text-align: justify">ProQR has a remuneration policy, but
                                            it merely stipulates that the Board may, at its discretion, grant an <I>extraordinary award
                                            </I>to executive directors in recognition of exceptional performance, performance under exceptional
                                            circumstances, or if it is in the shareholders&rsquo; best interests: <SUP>140</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&quot;<I>To attract and retain talent
and/or to recognize and reward <U>extraordinary performance </U>by the Company and/or Executive Directors, and/or to reward performance
under extraordinary circumstances, as well as to further <U>enhance alignment with shareholder interests</U>, the Board may, at its discretion,
grant an Extraordinary Award to the Executive Directors</I>.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.8.</TD><TD STYLE="text-align: justify">Nowhere in the 2025 annual financial
                                            statements is it stated that the grant of options to De Boer is based on any of these conditions,
                                            nor is there any reference to this policy at all. The financial statements merely refer to
                                            <I>&ldquo;specified non-market performance conditions</I>,&rdquo; without any further explanation.
                                            Since the compensation policy does not specify how many options may be granted under the
                                            aforementioned criteria, a reference to them would not help the Board in any case.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.9.</TD><TD STYLE="text-align: justify">VHI et al. further note that this
                                            course of action is clearly contrary to best practice provision 3.1.2 of the Corporate Governance
                                            Code, which requires that variable compensation be based on predetermined and measurable
                                            criteria. The inadequate reporting on compensation also violates Best Practice Provision
                                            3.4.1, as the <I>&ldquo;pre-determined and measurable performance criteria on which the variable
                                            compensation is contingent and the relationship between compensation and </I>performance&rdquo;
                                            have not been documented. Furthermore, no information was provided on how the compensation
                                            is intended to contribute to long-term value creation. Furthermore, ProQR failed to state
                                            in the financial statements that it deviated from these provisions and why it did so.<SUP>141</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.10.</TD><TD STYLE="text-align: justify">In this context, VHI et al. also
                                            questions the composition of the CNC Committee (see &sect; 4.3.3 et seq.). Heggie is a dependent
                                            non-executive director, and her appointment violated NASDAQ Rule&nbsp;5605(d)(2). Although
                                            NASDAQ Rule&nbsp;5615-3 requires this, ProQR has never explained that it deviated from this
                                            rule&nbsp;or why it did so.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>140</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;16
                                            (ProQR Compensation, Nominating, and Corporate Governance Committee Charter dated December&nbsp;2,
                                            2025), Article&nbsp;2.4.</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>141</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;15
                                            (ProQR 2025 Annual Report), p. 35 contains the only reference to best practice provision
                                            3.3.2, but only to points vi and vii, and not to v. No reference is made to best practice
                                            provision 3.4.1.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.11.</TD><TD STYLE="text-align: justify">The same applies to Shannon and,
                                            at the time, Valerio: there are serious doubts as to the extent to which they have fulfilled
                                            their supervisory duty to exercise independent and critical oversight, given (i)&nbsp;their
                                            long tenure on the Board as non-executive directors and (ii)&nbsp;their failure to take action
                                            in response to the structural governance violations. Valerio has since stepped down following
                                            the expiration of his term in 2026. The fact that, according to ProQR, the composition of
                                            the CNC Committee complies with best practice provision 2.3.4 of the Corporate Governance
                                            Code,<SUP>142</SUP>does not alter this. It is essential that the Board continue to critically
                                            assess the composition of its committees. This does not appear to be the case at present.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">5.6.12.</TD><TD STYLE="text-align: justify">Given the lack of independent and
                                            critical oversight, the awarding of variable compensation to non-executive directors is also
                                            inconsistent with the company&rsquo;s best interests.<SUP>143</SUP> ProQR fails to provide
                                            a reasoned explanation for its deviating conduct. This compensation policy, too, gives well-founded
                                            reasons to doubt the appropriateness of the policy and the proper conduct of actions. <SUP>144</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>REQUEST TO ORDER AN INVESTIGATION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.1.1.</TD><TD STYLE="text-align: justify">For the reasons set forth above, VHI
                                            et al. request that the Enterprise Chamber order an investigation into the policies and conduct
                                            of action within ProQR from the 2024 General Meeting (May&nbsp;22, 2024) to the present.
                                            VHI et al. have chosen the AGM24 as the starting point because this was the moment when the
                                            breach of governance and its consequences for business operations were already brought to
                                            the attention of the Board, and the Board has since failed to take adequate measures to address
                                            them. If relevant to the investigation, an investigator could also include facts and circumstances
                                            prior to the AGM24 in his or her scope of work.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">6.1.2.</TD><TD STYLE="text-align: justify">The investigation into ProQR&rsquo;s
                                            failure to comply with governance principles must, in any case, address the following issues:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">the reappointment of De Boer and Shannon
                                            in violation of the Corporate Governance Code and the Board Rules;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">the lack of a thorough explanation as
                                            to why deviating from governance principles would be in the company&rsquo;s best interest;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">groupthink, the formation of cliques,
                                            and the lack of independent and critical oversight within the Board;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">the negative impact of the failure to
                                            comply with governance principles on ProQR&rsquo;s business operations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">the proposals adopted at the 2026 Annual
                                            General Meeting to expand capital powers, through which the Board strengthened its position
                                            at the expense of the shareholders; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>142</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;9
                                            (Letter from ProQR to VHI et al. dated August&nbsp;29, 2025), pp. 3 and 4.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>143</SUP></TD><TD STYLE="text-align: justify">See Exhibit&nbsp;14
                                            (ProQR Annual Report 2025), p. 36.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>144</SUP></TD><TD STYLE="text-align: justify">Amsterdam
                                            Court of Appeal (Enterprise Chamber), August&nbsp;3, 2015, ECLI:NL:GHAMS:2015:3193.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: justify">the payment of bonuses to directors under
                                            the Remuneration Policy, contrary to the interests of ProQR&rsquo;s stakeholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>REQUEST TO TAKE IMMEDIATE RELIEF
                                            MEASURES</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.1.</TD><TD STYLE="text-align: justify">It follows from the foregoing that
                                            it is in the interest of ProQR&rsquo;s company and stakeholders, including its shareholders,
                                            to intervene in ProQR&rsquo;s current governance structure in the short term. Accordingly,
                                            VHI et al. submit a request, pursuant to Article&nbsp;2:349a of the Dutch Civil Code, for
                                            immediate measures to be taken, namely the appointment of an independent non-executive director
                                            to restore order internally, prior to the investigation to be ordered.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.2.</TD><TD STYLE="text-align: justify">VHI et al. are aware that restraint
                                            must be exercised, particularly in light of ProQR&rsquo;s stock market listing, and that
                                            there must be sufficiently compelling reasons for ordering immediate provisional measures
                                            prior to the investigation to be ordered.<SUP>145</SUP> Nevertheless, in the present case,
                                            there are compelling reasons why the requested immediate provisional measure is necessary
                                            in the short term, as the Board is systematically failing to fulfill its statutory and articles-of-association
                                            duties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.3.</TD><TD STYLE="text-align: justify">As explained in &sect; 5.5 et seq.,
                                            the manner in which the Board exercises governance has negative consequences for ProQR&rsquo;s
                                            business operations. It is in the interest of the company and its stakeholders that these
                                            negative consequences be mitigated in order to prevent a VDM situation (see &sect; 5.4.7
                                            et seq.).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.4.</TD><TD STYLE="text-align: justify">Mitigating these negative consequences
                                            takes time; therefore, urgent action is required. Since ProQR has repeatedly rejected various
                                            proposals (see &sect; 4.7 et seq.), the requested immediate measures must be implemented
                                            as soon as possible. In this context, it is in the interest of ProQR and its stakeholders
                                            that governance and the composition of the Board function properly, without the risk of groupthink
                                            or a lack of sufficient independent and critical oversight.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.5.</TD><TD STYLE="text-align: justify">Since ProQR has repeatedly refused
                                            to properly implement its governance framework, or even to respond actively and with sufficient
                                            justification to the objections raised by VHI et al., VHI et al. consider the requested appointment
                                            of an independent non-executive director to restore internal order to be an adequate solution
                                            to restore ProQR&rsquo;s governance and counter the negative consequences of the governance
                                            violation, without jeopardizing ProQR&rsquo;s continuity or harming the interests of ProQR
                                            and its stakeholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>145</SUP></TD><TD STYLE="text-align: justify">Supreme Court,
                                            December&nbsp;14, 2007, ECLI:NL:HR:2007:BB3523, <I>NJ</I> 2008/105 (<I>Franklin et al. v.
                                            DSM</I>), para. 3.6.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">7.1.6.</TD><TD STYLE="text-align: justify">VHI et al. urgently request that Your
                                            Enterprise Chamber appoint an independent non-executive director to ProQR who will be entrusted,
                                            among other things, with the following tasks:</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">monitoring ProQR&rsquo;s compliance with
                                            governance standards and initiating measures to bring such compliance in line with the Board
                                            Rules&nbsp;and the Corporate Governance Code;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">critically assessing the composition
                                            of the Board and, if necessary in the interest of ProQR and its stakeholders, initiating
                                            a concrete action plan for the succession of current directors;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">assessing whether the reappointments
                                            of De Boer and Shannon, which were approved at the 2025 Annual General Meeting (AGM25), should
                                            be rescinded, if necessary in the interest of ProQR and its stakeholders, and initiating
                                            the necessary steps to that end;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">monitoring the use of the capital authorizations
                                            granted at the AGM26, including the authority to issue shares on a non-preemptive basis,
                                            to ensure that these authorizations are exercised in the best interests of the company and
                                            all its shareholders; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">identifying the negative consequences
                                            of governance violations that arise in ProQR&rsquo;s business operations and, if necessary
                                            in the interest of ProQR and its stakeholders, initiating measures to counteract these negative
                                            consequences.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>URGENCY</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">8.1.1.</TD><TD STYLE="text-align: justify">Because the Board is systematically
                                            acting in violation of its own governance principles, (i)&nbsp;even after being made aware
                                            of the non-compliance with governance and its negative implications, (ii)&nbsp;the risk of
                                            groupthink and the lack of both innovation and sufficient independent and critical oversight
                                            will only be further exacerbated, and (iii)&nbsp;the negative consequences of this conduct
                                            on business operations will not be mitigated if the Board fails to take action, VHI et al.
                                            request that their inquiry be addressed at the earliest opportunity.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>9.</B></TD><TD STYLE="text-align: justify"><B>PROQR&rsquo;S POSITION</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">9.1.1.</TD><TD STYLE="text-align: justify">ProQR&rsquo;s position, as set forth
                                            in its letter of August&nbsp;29, 2025 (see &sect; 4.7.4), has already been outlined and refuted
                                            above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>EVIDENCE AND OFFER OF EVIDENCE</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.1.1.</TD><TD STYLE="text-align: justify">VHI et al. have the following evidence
                                            to demonstrate the accuracy of the assertions disputed by ProQR:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Exhibits 1 through 47 attached to this
                                            petition.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.1.2.</TD><TD STYLE="text-align: justify">To the extent that Your Enterprise
                                            Chamber were to rule&nbsp;that VHI et al. bear any burden of proof, VHI et al. offer to prove
                                            their claims by all lawful means, in particular by calling witnesses. VHI et al. may provide
                                            this evidence, among other things, by calling the following witnesses:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify">Mr.&nbsp;Dharminder Chahal, consultant
                                            to VHI et al.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">10.1.3.</TD><TD STYLE="text-align: justify">This offer applies in particular
                                            (but not exclusively) to the following assertions:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 14.65pt">a.</TD><TD STYLE="text-align: justify">the knowledge and experience of VHI et
                                            al. as a long-term investor in the biotech sector and the expectations that ProQR outlined
                                            to VHI et al. upon acquiring the equity interest (&sect; 2.2 and 4.4);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 14.5pt">b.</TD><TD STYLE="text-align: justify">Beukema&rsquo;s commitment of May&nbsp;6,
                                            2024, that the reappointments of Valerio and Shannon for two years did not automatically
                                            mean that they would actually complete two years (&sect; 4.5.2);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 14.5pt">c.</TD><TD STYLE="text-align: justify">Shannon&rsquo;s announcement in early 2025
                                            that he would be leaving ProQR by the end of 2025 and that clinical data would be available
                                            by that time (&sect; 4.6.1);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 13.5pt">d.</TD><TD STYLE="text-align: justify">the objections raised by VHI et al. during
                                            discussions with the Board and at the 2024, 2025, and 2026 Annual General Meetings regarding
                                            ProQR&rsquo;s governance, the reappointments of board members, and the disappointing performance
                                            (&sect;&sect; 4.5, 4.6, and 4.10);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 13.3pt">e.</TD><TD STYLE="text-align: justify">the meeting on January&nbsp;28, 2026, with
                                            De Boer, during which VHI et al. explained the structural problems within the Board and De
                                            Boer agreed to discuss this with the Board (&sect; 4.8.5);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 12.8pt">f.</TD><TD STYLE="text-align: justify">the manner in which De Boer, following
                                            the meeting of January&nbsp;28, 2026, downplayed the objections raised by VHI et al. and
                                            wrongly interpreted the lack of a response as consent (&sect; 4.8.6 and 4.8.7); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 12.45pt">g.</TD><TD STYLE="text-align: justify">the objections raised by VHI et al. to
                                            the proposals to expand the Board&rsquo;s capital authority during the 2026 Annual General
                                            Meeting, against which VHI et al. voted (&sect; 4.10).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>REQUEST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Dutch Enterprise Chamber at the
Amsterdam Court of Appeal is requested to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">to order an investigation as described
                                            in &sect; 6 of this petition and, in doing so, to grant immediate relief as described in
                                            &sect; 7 of this petition;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">to order ProQR to pay the costs of these
                                            proceedings,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">all of which, to the extent permitted
by law, shall be provisionally enforceable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Amsterdam, July&nbsp;27, 2026</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Laywer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B>EXHIBIT&nbsp;LIST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; width: 15%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;1</FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excerpt from
    ProQR dated July&nbsp;27, 0026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;2</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Organizational Chart</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;3</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excerpts from VHI et al.
    dated July&nbsp;27, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;4</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;SC 13G ProQR
    dated September&nbsp;13, 2023 (transaction September&nbsp;11, 2023)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;5</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;SC 13D/A VHI
    et al. dated July&nbsp;30, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;6</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excerpt from Aescap dated
    July&nbsp;27, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;7</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;SC 13G Aescap
    dated July&nbsp;15, 2026 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;8</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter of Objection dated
    August&nbsp;18, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;9</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter from ProQR to VHI
    et al. dated August&nbsp;29, 2025 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;10</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accuracy Report dated July&nbsp;7,
    2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;11</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Articles of Association
    dated June&nbsp;2, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;12</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Board Rules&nbsp;dated
    December&nbsp;2, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;13</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dutch Corporate Governance
    Code dated March&nbsp;2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;14</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Annual Report 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;15</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Annual Report 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;16</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Compensation, Nominating,
    and Corporate Governance Committee Charter dated December&nbsp;2, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;17</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Annual Report 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;18</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Board Compensation
    Policy dated May&nbsp;22, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;19</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Annual Report 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;20</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Equity Incentive
    Plan dated May&nbsp;22, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;21</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Press Release Regarding
    Announcement of Phase 1 Data dated January&nbsp;8, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;22</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR, Lilly, and ProQR
    Press Release Regarding RNA Editing Collaboration dated December&nbsp;22, December&nbsp;2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;23</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Press Release Regarding
    Q2 2025 Results dated August&nbsp;7, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;24</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR 2022 Annual Report
    Exhibit&nbsp;25 Statement by Dharminder</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;26</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Strategy Update dated
    April&nbsp;13, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;27</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Press Release Regarding
    Approval of Clinical Trials dated October&nbsp;20, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;28</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR press release regarding
    initial trial data dated June&nbsp;25, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;29</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press releases for Wave
    (September&nbsp;3, 2025) and Korro (March&nbsp;19, 2025)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;30</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minutes of ProQR AGM 24</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;31</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Explanatory notes on the
    agenda for ProQR General Meeting 25</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;32</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Explanatory notes on the
    agenda for ProQR General Meeting 24</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;33</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter from VHI et al.
    to ProQR dated May&nbsp;23, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;34</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minutes of ProQR General
    Meeting 25</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;35</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Summary of questions from
    VHI et al. and ProQR&rsquo;s responses regarding General Meeting 25</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;36</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email correspondence between
    Chahal and De Boer dated September&nbsp;22, 2025, and December&nbsp;10, December&nbsp;2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;37</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange between
    Chahal and De Boer dated January&nbsp;20, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;38</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange between
    Chahal and De Boer dated January&nbsp;30, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;39</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange between
    Chahal and De Boer dated March&nbsp;2, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;40</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange between
    Chahal and De Boer dated March&nbsp;9, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;41</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange between
    Chahal and De Boer dated March&nbsp;11, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;42</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange between
    Chahal and De Boer dated March&nbsp;18, 2026</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;43</FONT></TD>
    <TD STYLE="text-align: justify; width: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email exchange
    between Chahal and De Boer dated June&nbsp;9, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;44</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR press release regarding
    capital issuance dated June&nbsp;25, 2026</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;45</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AIRNA press release dated
    May&nbsp;13, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;46</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press release regarding
    ProQR&rsquo;s disappointing results dated March&nbsp;14, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;47</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ProQR Investor&nbsp;&amp; Analyst Event dated November&nbsp;3,
    2025</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
