diff --git a/src/Application/UseCases/PrintableCoupon/List/Input.php b/src/Application/UseCases/PrintableCoupon/List/Input.php
new file mode 100644
index 0000000..7681a1d
--- /dev/null
+++ b/src/Application/UseCases/PrintableCoupon/List/Input.php
@@ -0,0 +1,22 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Application\UseCases\PrintableCoupon\List;
+
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponSortCriteria;
+use Shared\DDD\UseCases\Input as UseCaseInput;
+use Shared\ValueObjects\Pagination\Pagination;
+
+final readonly class Input implements UseCaseInput
+{
+    public function __construct(
+        public Pagination $pagination,
+        public CampaignCode $campaignCode,
+        public CrmHashcode $crmCustomerHashcode,
+        public ?PrintableCouponSortCriteria $sortCriteria = null,
+    ) {
+    }
+}
diff --git a/src/Application/UseCases/PrintableCoupon/List/ListPrintableCoupons.php b/src/Application/UseCases/PrintableCoupon/List/ListPrintableCoupons.php
new file mode 100644
index 0000000..e6f8b1c
--- /dev/null
+++ b/src/Application/UseCases/PrintableCoupon/List/ListPrintableCoupons.php
@@ -0,0 +1,76 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Application\UseCases\PrintableCoupon\List;
+
+use Domain\Models\Entities\PrintableCoupon;
+use Domain\Models\ValueObjects\Coupon\CouponPicture;
+use Domain\Ports\Repositories\CouponRepository;
+use Domain\Ports\Repositories\PrintableCouponRepository;
+use Shared\DDD\UseCases\Input as BaseInput;
+use Shared\DDD\UseCases\UseCase;
+use Shared\ValueObjects\Pagination\Paginated;
+use Webmozart\Assert\Assert;
+
+/** @implements UseCase<\Application\UseCases\PrintableCoupon\List\Input, \Application\UseCases\PrintableCoupon\List\Output> */
+final readonly class ListPrintableCoupons implements UseCase
+{
+    public function __construct(
+        private PrintableCouponRepository $repository,
+        private CouponRepository $couponRepository,
+    ) {
+    }
+
+    #[\Override]
+    public function execute(BaseInput $input): Output
+    {
+        Assert::isInstanceOf($input, Input::class);
+
+        $result = $this->repository->findAllAvailable(
+            pagination: $input->pagination,
+            campaignCode: $input->campaignCode,
+            crmCustomerHashcode: $input->crmCustomerHashcode,
+            sortCriteria: $input->sortCriteria,
+        );
+
+        $printableCoupons = $result->getItems();
+
+        /** @var array<string, CouponPicture> $picturesByCouponCode */
+        $picturesByCouponCode = [];
+
+        foreach ($printableCoupons as $printableCoupon) {
+            $couponCode = $printableCoupon->couponCode;
+
+            if (isset($picturesByCouponCode[$couponCode->value])) {
+                continue;
+            }
+
+            $coupon = $this->couponRepository->findByCode($couponCode)
+                ?? throw new \LogicException(sprintf('Coupon "%s" referenced by a printable coupon does not exist.', $couponCode->value));
+
+            $picturesByCouponCode[$couponCode->value] = $coupon->picture;
+        }
+
+        $items = array_map(
+            static fn (PrintableCoupon $printableCoupon): PrintableCouponListItem => new PrintableCouponListItem(
+                code: $printableCoupon->code,
+                couponCode: $printableCoupon->couponCode,
+                couponName: $printableCoupon->couponName,
+                couponPicture: $picturesByCouponCode[$printableCoupon->couponCode->value],
+                distributableUntil: $printableCoupon->distributableUntil,
+                createdAt: $printableCoupon->createdAt(),
+                updatedAt: $printableCoupon->updatedAt(),
+            ),
+            $printableCoupons,
+        );
+
+        return new Output(
+            printableCoupons: new Paginated(
+                pagination: $result->getPagination(),
+                items: $items,
+                total: $result->getTotal(),
+            ),
+        );
+    }
+}
diff --git a/src/Application/UseCases/PrintableCoupon/List/Output.php b/src/Application/UseCases/PrintableCoupon/List/Output.php
new file mode 100644
index 0000000..c6ac9ed
--- /dev/null
+++ b/src/Application/UseCases/PrintableCoupon/List/Output.php
@@ -0,0 +1,17 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Application\UseCases\PrintableCoupon\List;
+
+use Shared\DDD\UseCases\Output as UseCaseOutput;
+use Shared\ValueObjects\Pagination\Paginated;
+
+final readonly class Output implements UseCaseOutput
+{
+    /** @param Paginated<PrintableCouponListItem> $printableCoupons */
+    public function __construct(
+        public Paginated $printableCoupons,
+    ) {
+    }
+}
diff --git a/src/Application/UseCases/PrintableCoupon/List/PrintableCouponListItem.php b/src/Application/UseCases/PrintableCoupon/List/PrintableCouponListItem.php
new file mode 100644
index 0000000..f7f50c6
--- /dev/null
+++ b/src/Application/UseCases/PrintableCoupon/List/PrintableCouponListItem.php
@@ -0,0 +1,24 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Application\UseCases\PrintableCoupon\List;
+
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\Coupon\CouponName;
+use Domain\Models\ValueObjects\Coupon\CouponPicture;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+
+final readonly class PrintableCouponListItem
+{
+    public function __construct(
+        public PrintableCouponCode $code,
+        public CouponCode $couponCode,
+        public CouponName $couponName,
+        public CouponPicture $couponPicture,
+        public \DateTimeInterface $distributableUntil,
+        public \DateTimeInterface $createdAt,
+        public \DateTimeInterface $updatedAt,
+    ) {
+    }
+}
diff --git a/src/Domain/Models/Entities/PrintableCoupon.php b/src/Domain/Models/Entities/PrintableCoupon.php
new file mode 100644
index 0000000..23e8a1a
--- /dev/null
+++ b/src/Domain/Models/Entities/PrintableCoupon.php
@@ -0,0 +1,84 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\Entities;
+
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\Coupon\CouponName;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Shared\DDD\Models\AggregateRoot;
+use Shared\DDD\Models\HasTimestampIdentifier;
+use Shared\Helpers\DatesHelper;
+
+/**
+ * @implements \Shared\DDD\Models\AggregateRoot<\Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode>
+ */
+final readonly class PrintableCoupon implements AggregateRoot, HasTimestampIdentifier
+{
+    private function __construct(
+        public PrintableCouponCode $code,
+        public CampaignCode $campaignCode,
+        public CouponCode $couponCode,
+        public CouponName $couponName,
+        public CrmHashcode $crmCustomerHashcode,
+        public \DateTimeInterface $distributableUntil,
+        public \DateTimeInterface $updatedAt,
+    ) {
+    }
+
+    public function id(): PrintableCouponCode
+    {
+        return $this->code;
+    }
+
+    public function createdAt(): \DateTimeInterface
+    {
+        return $this->code->toDateTime();
+    }
+
+    public function updatedAt(): \DateTimeInterface
+    {
+        return $this->updatedAt;
+    }
+
+    public static function create(
+        CampaignCode $campaignCode,
+        CouponCode $couponCode,
+        CouponName $couponName,
+        CrmHashcode $crmCustomerHashcode,
+        \DateTimeInterface $distributableUntil,
+    ): self {
+        $code = PrintableCouponCode::generate();
+        return new self(
+            code: $code,
+            campaignCode: $campaignCode,
+            couponCode: $couponCode,
+            couponName: $couponName,
+            crmCustomerHashcode: $crmCustomerHashcode,
+            distributableUntil: $distributableUntil,
+            updatedAt: $code->toDateTime(),
+        );
+    }
+
+    public static function hydrate(
+        PrintableCouponCode $code,
+        CampaignCode $campaignCode,
+        CouponCode $couponCode,
+        CouponName $couponName,
+        CrmHashcode $crmCustomerHashcode,
+        \DateTimeInterface $distributableUntil,
+    ): self {
+        return new self(
+            code: $code,
+            campaignCode: $campaignCode,
+            couponCode: $couponCode,
+            couponName: $couponName,
+            crmCustomerHashcode: $crmCustomerHashcode,
+            distributableUntil: $distributableUntil,
+            updatedAt: DatesHelper::now(),
+        );
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/CrmHashcode.php b/src/Domain/Models/ValueObjects/CrmHashcode.php
new file mode 100644
index 0000000..195d915
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/CrmHashcode.php
@@ -0,0 +1,28 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects;
+
+use Ramsey\Uuid\UuidInterface;
+use Shared\DDD\Models\Equatable;
+use Shared\Helpers\UuidHelper;
+
+final readonly class CrmHashcode implements Equatable
+{
+    public function __construct(
+        public UuidInterface $value,
+    ) {
+        if (! UuidHelper::isV4($value)) {
+            throw new \DomainException(
+                'Hash code must be a valid UUID v4.',
+            );
+        }
+    }
+
+    #[\Override]
+    public function equals(mixed $other): bool
+    {
+        return $other instanceof self && $this->value === $other->value;
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/MarketingDirectCode.php b/src/Domain/Models/ValueObjects/PrintableCoupon/MarketingDirectCode.php
new file mode 100644
index 0000000..d21e226
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/MarketingDirectCode.php
@@ -0,0 +1,47 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+use Shared\DDD\Models\Equatable;
+
+final readonly class MarketingDirectCode implements \Stringable, Equatable
+{
+    private const string PATTERN = '/^\d{13}\z/';
+
+    public function __construct(
+        public string $value,
+    ) {
+        if (preg_match(self::PATTERN, $this->value) !== 1) {
+            throw new \DomainException(
+                'Marketing Direct Code must be exactly 13 numeric characters, e.g. 5425003944130.',
+            );
+        }
+    }
+
+    public static function fromInt(int $sequence): self
+    {
+        if ($sequence < 0) {
+            throw new \DomainException('Marketing Direct sequence must be positive.');
+        }
+
+        return new self(str_pad((string) $sequence, 13, '0', STR_PAD_LEFT));
+    }
+
+    public function toInt(): int
+    {
+        return (int) $this->value;
+    }
+
+    #[\Override]
+    public function equals(mixed $other): bool
+    {
+        return $other instanceof self && $this->value === $other->value;
+    }
+
+    public function __toString(): string
+    {
+        return $this->value;
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponCode.php b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponCode.php
new file mode 100644
index 0000000..6e0291a
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponCode.php
@@ -0,0 +1,16 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+use Ramsey\Uuid\Uuid;
+use Shared\DDD\Models\Uuidv7EntityId;
+
+final readonly class PrintableCouponCode extends Uuidv7EntityId
+{
+    public static function generate(): self
+    {
+        return new self(Uuid::uuid7());
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponSortCriteria.php b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponSortCriteria.php
new file mode 100644
index 0000000..fe34e0c
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponSortCriteria.php
@@ -0,0 +1,14 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+final readonly class PrintableCouponSortCriteria
+{
+    public function __construct(
+        public PrintableCouponSortField $field = PrintableCouponSortField::Name,
+        public \SortDirection $direction = \SortDirection::Ascending,
+    ) {
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponSortField.php b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponSortField.php
new file mode 100644
index 0000000..ff10b5e
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponSortField.php
@@ -0,0 +1,11 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+enum PrintableCouponSortField: string
+{
+    case CreatedAt = 'created_at';
+    case Name      = 'name';
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/PrintedCoupon.php b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintedCoupon.php
new file mode 100644
index 0000000..21112fc
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintedCoupon.php
@@ -0,0 +1,28 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+
+final readonly class PrintedCoupon
+{
+    public function __construct(
+        public PrintedCouponId $id,
+        public MarketingDirectCode $marketingCode,
+        public PrintableCouponCode $printableCode,
+        public CouponCode $couponCode,
+        public CampaignCode $campaignCode,
+        public CrmHashcode $customer,
+        public \DateTimeInterface $printedAt,
+    ) {
+    }
+
+    public function printedAt(): \DateTimeInterface
+    {
+        return $this->id->toDateTime();
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponId.php b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponId.php
new file mode 100644
index 0000000..b04d121
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponId.php
@@ -0,0 +1,16 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+use Ramsey\Uuid\Uuid;
+use Shared\DDD\Models\Uuidv7EntityId;
+
+final readonly class PrintedCouponId extends Uuidv7EntityId
+{
+    public static function generate(): self
+    {
+        return new self(Uuid::uuid7());
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/UnprintedCoupon.php b/src/Domain/Models/ValueObjects/PrintableCoupon/UnprintedCoupon.php
new file mode 100644
index 0000000..a717e2d
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/UnprintedCoupon.php
@@ -0,0 +1,21 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+
+final readonly class UnprintedCoupon
+{
+    public function __construct(
+        public PrintableCouponCode $printableCode,
+        public CouponCode $couponCode,
+        public CampaignCode $campaignCode,
+        public CrmHashcode $customer,
+        public UnprintedReason $unprintedReason,
+    ) {
+    }
+}
diff --git a/src/Domain/Models/ValueObjects/PrintableCoupon/UnprintedReason.php b/src/Domain/Models/ValueObjects/PrintableCoupon/UnprintedReason.php
new file mode 100644
index 0000000..81e7e07
--- /dev/null
+++ b/src/Domain/Models/ValueObjects/PrintableCoupon/UnprintedReason.php
@@ -0,0 +1,16 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Models\ValueObjects\PrintableCoupon;
+
+final readonly class UnprintedReason
+{
+    public function __construct(
+        public string $value,
+    ) {
+        if (mb_trim($this->value) === '') {
+            throw new \DomainException('Unprinted reason cannot be empty.');
+        }
+    }
+}
diff --git a/src/Domain/Ports/Repositories/PrintableCouponRepository.php b/src/Domain/Ports/Repositories/PrintableCouponRepository.php
new file mode 100644
index 0000000..4ead8e6
--- /dev/null
+++ b/src/Domain/Ports/Repositories/PrintableCouponRepository.php
@@ -0,0 +1,31 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Domain\Ports\Repositories;
+
+use Domain\Models\Entities\PrintableCoupon;
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponSortCriteria;
+use Shared\DDD\Ports\Repository;
+use Shared\ValueObjects\Pagination\Paginated;
+use Shared\ValueObjects\Pagination\Pagination;
+
+/**
+ * @extends \Shared\DDD\Ports\Repository<\Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode, \Domain\Models\Entities\PrintableCoupon>
+ */
+interface PrintableCouponRepository extends Repository
+{
+    /**
+     * @return Paginated<PrintableCoupon>
+     */
+    public function findAllAvailable(
+        Pagination $pagination,
+        CampaignCode $campaignCode,
+        CrmHashcode $crmCustomerHashcode,
+        ?PrintableCouponSortCriteria $sortCriteria = null,
+    ): Paginated;
+
+    public function save(PrintableCoupon $printableCoupon): void;
+}
diff --git a/tests/Unit/Application/UseCases/PrintableCoupon/List/ListPrintableCouponTest.php b/tests/Unit/Application/UseCases/PrintableCoupon/List/ListPrintableCouponTest.php
new file mode 100644
index 0000000..f91bb83
--- /dev/null
+++ b/tests/Unit/Application/UseCases/PrintableCoupon/List/ListPrintableCouponTest.php
@@ -0,0 +1,279 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Application\UseCases\PrintableCoupon\List;
+
+use Application\UseCases\PrintableCoupon\List\Input;
+use Application\UseCases\PrintableCoupon\List\ListPrintableCoupons;
+use Application\UseCases\PrintableCoupon\List\Output;
+use Application\UseCases\PrintableCoupon\List\PrintableCouponListItem;
+use DateTime;
+use Domain\Models\Entities\Coupon;
+use Domain\Models\Entities\PrintableCoupon;
+use Domain\Models\ValueObjects\Actor\ActorId;
+use Domain\Models\ValueObjects\Brand\BrandCode;
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\Coupon\CouponDiffusion;
+use Domain\Models\ValueObjects\Coupon\CouponLegalInformation;
+use Domain\Models\ValueObjects\Coupon\CouponLegalInformationArray;
+use Domain\Models\ValueObjects\Coupon\CouponMovement;
+use Domain\Models\ValueObjects\Coupon\CouponMovementArray;
+use Domain\Models\ValueObjects\Coupon\CouponName;
+use Domain\Models\ValueObjects\Coupon\CouponPicture;
+use Domain\Models\ValueObjects\Coupon\CouponProductArray;
+use Domain\Models\ValueObjects\Coupon\CouponQuantity;
+use Domain\Models\ValueObjects\Coupon\CouponValidityInformation;
+use Domain\Models\ValueObjects\Coupon\CouponValidityInformationArray;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Domain\Models\ValueObjects\IncoCode;
+use Domain\Models\ValueObjects\MoneyAmount;
+use Domain\Models\ValueObjects\Period;
+use Domain\Models\ValueObjects\PicturePath;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponSortCriteria;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponSortField;
+use Domain\Models\ValueObjects\ProcessingCode;
+use Domain\Models\ValueObjects\ProcessingCodeArray;
+use Domain\Ports\Repositories\CouponRepository;
+use Domain\Ports\Repositories\PrintableCouponRepository;
+use Ramsey\Uuid\Uuid;
+use Shared\Enums\Country;
+use Shared\Enums\Currency;
+use Shared\ValueObjects\Money;
+use Shared\ValueObjects\Pagination\Paginated;
+use Shared\ValueObjects\Pagination\Pagination;
+
+covers(ListPrintableCoupons::class, Input::class, Output::class, PrintableCouponListItem::class);
+
+describe('list printable coupons use case', function (): void {
+    $createPicture = fn (string $name): CouponPicture => new CouponPicture(
+        new PicturePath("files/{$name}.jpg"),
+        new PicturePath("files/{$name}-thumbnail.jpg"),
+        new PicturePath("files/{$name}-mobile.jpg"),
+    );
+
+    $createInput = fn (PrintableCouponSortCriteria | null $sortCriteria = null): Input => new Input(
+        pagination: Pagination::firstPage(),
+        campaignCode: new CampaignCode('AAA01'),
+        crmCustomerHashcode: new CrmHashcode(Uuid::uuid4()),
+        sortCriteria: $sortCriteria ?? new PrintableCouponSortCriteria(
+            field: PrintableCouponSortField::CreatedAt,
+            direction: \SortDirection::Descending,
+        ),
+    );
+
+    $createPrintableCoupon = fn (CouponCode $couponCode): PrintableCoupon => PrintableCoupon::hydrate(
+        code: PrintableCouponCode::generate(),
+        campaignCode: new CampaignCode('AAA01'),
+        couponCode: $couponCode,
+        couponName: new CouponName('Coupon name'),
+        crmCustomerHashcode: new CrmHashcode(Uuid::uuid4()),
+        distributableUntil: new DateTime('2027-01-01'),
+    );
+
+    $createCoupon = fn (CouponCode $code, CouponPicture $picture): Coupon => Coupon::create(
+        code: $code,
+        name: new CouponName('Coupon name'),
+        amount: new MoneyAmount(new Money(Currency::EUR, 100)),
+        picture: $picture,
+        diffusion: new CouponDiffusion(
+            new Period(
+                new DateTime('2026-01-01'),
+                new DateTime('2026-02-01'),
+            ),
+        ),
+        validityInformations: new CouponValidityInformationArray([
+            new CouponValidityInformation(
+                'Lorem ipsum dolor sit amet consectetur adipiscing elit.',
+                Country::FRANCE
+            ),
+        ]),
+        legalInformations: new CouponLegalInformationArray([
+            new CouponLegalInformation(
+                'Lorem ipsum dolor sit amet consectetur adipiscing elit.',
+                Country::FRANCE
+            ),
+        ]),
+        processingCode: new ProcessingCodeArray([
+            new ProcessingCode('5425003944130', Country::FRANCE),
+        ]),
+        brandCode: new BrandCode('AAA01'),
+        createdBy: ActorId::generate(),
+        products: new CouponProductArray([
+            new IncoCode(35784),
+            new IncoCode(15522),
+        ]),
+        movements: new CouponMovementArray([
+            new CouponMovement(1000)
+        ]),
+        quantity: new CouponQuantity(1000),
+    );
+
+    it('returns the printable coupons with the picture of their coupon', function () use (
+        $createInput,
+        $createPicture,
+        $createCoupon,
+        $createPrintableCoupon,
+    ): void {
+        // GIVEN
+        $input      = $createInput();
+        $picture    = $createPicture('picture');
+        $couponCode = new CouponCode('AAA01');
+        $printable  = $createPrintableCoupon($couponCode);
+        $coupon     = $createCoupon($couponCode, $picture);
+
+        $paginated = new Paginated(pagination: $input->pagination, items: [$printable], total: 1);
+
+        $repository = \Mockery::mock(PrintableCouponRepository::class);
+        $repository->shouldReceive('findAllAvailable')
+            ->once()
+            ->with($input->pagination, $input->campaignCode, $input->crmCustomerHashcode, $input->sortCriteria)
+            ->andReturn($paginated);
+
+        $couponRepository = \Mockery::mock(CouponRepository::class);
+        $couponRepository->shouldReceive('findByCode')
+            ->once()
+            ->with($printable->couponCode)
+            ->andReturn($coupon);
+
+        $useCase = new ListPrintableCoupons($repository, $couponRepository);
+
+        // WHEN
+        $output = $useCase->execute($input);
+
+        // THEN
+        $items = $output->printableCoupons->getItems();
+
+        expect($items)->toHaveCount(1)
+            ->and($output->printableCoupons->getTotal())->toBe(1)
+            ->and($items[0]->code)->toBe($printable->code)
+            ->and($items[0]->couponCode)->toBe($printable->couponCode)
+            ->and($items[0]->couponName)->toBe($printable->couponName)
+            ->and($items[0]->couponPicture)->toBe($picture)
+            ->and($items[0]->distributableUntil)->toBe($printable->distributableUntil);
+    });
+
+    it('forwards the sort criteria and keeps the order returned by the repository', function () use (
+        $createInput,
+        $createPicture,
+        $createCoupon,
+        $createPrintableCoupon,
+    ): void {
+        // GIVEN
+        $sortCriteria = new PrintableCouponSortCriteria(
+            field: PrintableCouponSortField::Name,
+            direction: \SortDirection::Descending,
+        );
+        $input = $createInput($sortCriteria);
+
+        $code1    = new CouponCode('AAA01');
+        $code2    = new CouponCode('BBB02');
+        $picture1 = $createPicture('picture-1');
+        $picture2 = $createPicture('picture-2');
+
+        $printableCoupon1 = $createPrintableCoupon($code1);
+        $printableCoupon2 = $createPrintableCoupon($code2);
+
+        $repository = \Mockery::mock(PrintableCouponRepository::class);
+        $repository->shouldReceive('findAllAvailable')
+            ->once()
+            ->with($input->pagination, $input->campaignCode, $input->crmCustomerHashcode, $sortCriteria)
+            ->andReturn(new Paginated(pagination: $input->pagination, items: [$printableCoupon2, $printableCoupon1], total: 2));
+
+        $couponRepository = \Mockery::mock(CouponRepository::class);
+        $couponRepository->shouldReceive('findByCode')->with($code2)->once()
+            ->andReturn($createCoupon($code2, $picture2));
+        $couponRepository->shouldReceive('findByCode')->with($code1)->once()
+            ->andReturn($createCoupon($code1, $picture1));
+
+        $useCase = new ListPrintableCoupons($repository, $couponRepository);
+
+        // WHEN
+        $items = $useCase->execute($input)->printableCoupons->getItems();
+
+        // THEN
+        expect($items)->toHaveCount(2)
+            ->and($items[0]->code)->toBe($printableCoupon2->code)
+            ->and($items[0]->couponName)->toBe($printableCoupon2->couponName)
+            ->and($items[0]->couponPicture)->toBe($picture2)
+            ->and($items[1]->code)->toBe($printableCoupon1->code)
+            ->and($items[1]->couponName)->toBe($printableCoupon1->couponName)
+            ->and($items[1]->couponPicture)->toBe($picture1);
+    });
+
+    it('returns an empty list without error when there is no printable coupon', function () use ($createInput): void {
+        // GIVEN
+        $input     = $createInput();
+        $paginated = new Paginated(pagination: $input->pagination, items: [], total: 0);
+
+        $repository = \Mockery::mock(PrintableCouponRepository::class);
+        $repository->shouldReceive('findAllAvailable')->once()->andReturn($paginated);
+
+        $couponRepository = \Mockery::mock(CouponRepository::class);
+        $couponRepository->shouldNotReceive('findByCode');
+
+        $useCase = new ListPrintableCoupons($repository, $couponRepository);
+
+        // WHEN
+        $output = $useCase->execute($input);
+
+        // THEN
+        expect($output->printableCoupons->getItems())->toBe([])
+            ->and($output->printableCoupons->getTotal())->toBe(0);
+    });
+
+    it('loads a shared coupon only once', function () use (
+        $createInput,
+        $createPicture,
+        $createPrintableCoupon,
+        $createCoupon,
+    ): void {
+        // GIVEN
+        $input      = $createInput();
+        $picture    = $createPicture('picture');
+        $couponCode = new CouponCode('AAA01');
+        $items      = [$createPrintableCoupon($couponCode), $createPrintableCoupon($couponCode)];
+
+        $repository = \Mockery::mock(PrintableCouponRepository::class);
+        $repository->shouldReceive('findAllAvailable')
+            ->once()
+            ->andReturn(new Paginated(pagination: $input->pagination, items: $items, total: 2));
+
+        $couponRepository = \Mockery::mock(CouponRepository::class);
+        $couponRepository->shouldReceive('findByCode')
+            ->once()
+            ->andReturn($createCoupon($couponCode, $picture));
+
+        $useCase = new ListPrintableCoupons($repository, $couponRepository);
+
+        // WHEN
+        $output = $useCase->execute($input);
+
+        // THEN
+        expect($output->printableCoupons->getItems())->toHaveCount(2);
+    });
+
+    it('throws when the coupon of a printable coupon does not exist', function () use ($createInput, $createPrintableCoupon): void {
+        // GIVEN
+        $input     = $createInput();
+        $printable = $createPrintableCoupon(new CouponCode('BBB02'));
+
+        $repository = \Mockery::mock(PrintableCouponRepository::class);
+        $repository->shouldReceive('findAllAvailable')
+            ->once()
+            ->andReturn(new Paginated(pagination: $input->pagination, items: [$printable], total: 1));
+
+        $couponRepository = \Mockery::mock(CouponRepository::class);
+        $couponRepository->shouldReceive('findByCode')->once()->andReturn(null);
+
+        $useCase = new ListPrintableCoupons($repository, $couponRepository);
+
+        // WHEN
+        $action = fn (): Output => $useCase->execute($input);
+
+        // THEN
+        expect($action)->toThrow(\LogicException::class);
+    });
+});
diff --git a/tests/Unit/Domain/Models/Entities/PrintableCouponTest.php b/tests/Unit/Domain/Models/Entities/PrintableCouponTest.php
new file mode 100644
index 0000000..8fb94e5
--- /dev/null
+++ b/tests/Unit/Domain/Models/Entities/PrintableCouponTest.php
@@ -0,0 +1,122 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\Entities;
+
+use Domain\Models\Entities\PrintableCoupon;
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\Coupon\CouponName;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+use Ramsey\Uuid\Uuid;
+
+covers(PrintableCoupon::class);
+
+describe('printable coupon', function (): void {
+    $campaignCode        = new CampaignCode('AAA01');
+    $couponCode          = new CouponCode('AAA01');
+    $couponName          = new CouponName('Coupon name');
+    $crmCustomerHashcode = new CrmHashcode(Uuid::uuid4());
+    $distributableUntil  = new \DateTimeImmutable('2027-01-01');
+
+    it('creates a printable coupon with the given values', function () use (
+        $campaignCode,
+        $couponCode,
+        $couponName,
+        $crmCustomerHashcode,
+        $distributableUntil,
+    ): void {
+        // GIVEN / WHEN
+        $printable = PrintableCoupon::create(
+            $campaignCode,
+            $couponCode,
+            $couponName,
+            $crmCustomerHashcode,
+            $distributableUntil,
+        );
+
+        // THEN
+        expect($printable->campaignCode)->toBe($campaignCode)
+            ->and($printable->couponCode)->toBe($couponCode)
+            ->and($printable->couponName)->toBe($couponName)
+            ->and($printable->crmCustomerHashcode)->toBe($crmCustomerHashcode)
+            ->and($printable->distributableUntil)->toBe($distributableUntil);
+    });
+
+    it('generates a new code on each creation', function () use (
+        $campaignCode,
+        $couponCode,
+        $couponName,
+        $crmCustomerHashcode,
+        $distributableUntil,
+    ): void {
+        // GIVEN / WHEN
+        $first  = PrintableCoupon::create($campaignCode, $couponCode, $couponName, $crmCustomerHashcode, $distributableUntil);
+        $second = PrintableCoupon::create($campaignCode, $couponCode, $couponName, $crmCustomerHashcode, $distributableUntil);
+
+        // THEN
+        expect($first->code)->toBeInstanceOf(PrintableCouponCode::class)
+            ->and($first->code->equals($second->code))->toBeFalse();
+    });
+
+    it('exposes its code as identifier', function () use (
+        $campaignCode,
+        $couponCode,
+        $couponName,
+        $crmCustomerHashcode,
+        $distributableUntil,
+    ): void {
+        // GIVEN
+        $printable = PrintableCoupon::create($campaignCode, $couponCode, $couponName, $crmCustomerHashcode, $distributableUntil);
+
+        // WHEN / THEN
+        expect($printable->id())->toBe($printable->code);
+    });
+
+    it('has an update date equal to its creation date', function () use (
+        $campaignCode,
+        $couponCode,
+        $couponName,
+        $crmCustomerHashcode,
+        $distributableUntil,
+    ): void {
+        // GIVEN / WHEN
+        $printable = PrintableCoupon::create($campaignCode, $couponCode, $couponName, $crmCustomerHashcode, $distributableUntil);
+
+        // THEN
+        expect($printable->updatedAt)->toEqual($printable->createdAt())
+            ->and($printable->updatedAt())->toBe($printable->updatedAt);
+    });
+
+    it('hydrates a printable coupon with the given values', function () use (
+        $campaignCode,
+        $couponCode,
+        $couponName,
+        $crmCustomerHashcode,
+        $distributableUntil,
+    ): void {
+        // GIVEN
+        $code = PrintableCouponCode::generate();
+
+        // WHEN
+        $printable = PrintableCoupon::hydrate(
+            $code,
+            $campaignCode,
+            $couponCode,
+            $couponName,
+            $crmCustomerHashcode,
+            $distributableUntil,
+        );
+
+        // THEN
+        expect($printable->code)->toBe($code)
+            ->and($printable->campaignCode)->toBe($campaignCode)
+            ->and($printable->couponCode)->toBe($couponCode)
+            ->and($printable->couponName)->toBe($couponName)
+            ->and($printable->crmCustomerHashcode)->toBe($crmCustomerHashcode)
+            ->and($printable->distributableUntil)->toBe($distributableUntil)
+            ->and($printable->createdAt())->toEqual($code->toDateTime());
+    });
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/CrmHashcodeTest.php b/tests/Unit/Domain/Models/ValueObjects/CrmHashcodeTest.php
new file mode 100644
index 0000000..7f515fc
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/CrmHashcodeTest.php
@@ -0,0 +1,49 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects;
+
+use Domain\Models\ValueObjects\CrmHashcode;
+use Ramsey\Uuid\Uuid;
+
+covers(CrmHashcode::class);
+
+describe('crm hashcode', function (): void {
+    $value = Uuid::uuid4();
+
+    it('creates a valid hashcode', function () use ($value): void {
+        // GIVEN / WHEN
+        $hashcode = new CrmHashcode($value);
+
+        // THEN
+        expect($hashcode->value)->toBe($value);
+    });
+
+    it('is equal to a hashcode with the same value', function () use ($value): void {
+        // GIVEN
+        $hashcode = new CrmHashcode($value);
+        $other    = new CrmHashcode($value);
+
+        // WHEN / THEN
+        expect($hashcode->equals($other))->toBeTrue();
+    });
+
+    it('is not equal to a hashcode with a different value', function () use ($value): void {
+        // GIVEN
+        $hashcode = new CrmHashcode($value);
+        $other    = new CrmHashcode(Uuid::uuid4());
+
+        // WHEN / THEN
+        expect($hashcode->equals($other))->toBeFalse();
+    });
+
+    it('is not equal to a value that is not a hashcode', function () use ($value): void {
+        // GIVEN
+        $hashcode = new CrmHashcode($value);
+
+        // WHEN / THEN
+        expect($hashcode->equals($value))->toBeFalse()
+            ->and($hashcode->equals(null))->toBeFalse();
+    });
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/MarketingDirectCodeTest.php b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/MarketingDirectCodeTest.php
new file mode 100644
index 0000000..0bc9d6d
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/MarketingDirectCodeTest.php
@@ -0,0 +1,32 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\PrintableCoupon\MarketingDirectCode;
+
+covers(MarketingDirectCode::class);
+
+describe('marketing direct code', function (): void {
+    it('builds a code from an incrementing integer', function (int $sequence, string $expected): void {
+        expect(MarketingDirectCode::fromInt($sequence)->value)->toBe($expected);
+    })->with([
+        'one'       => [1, '0000000000001'],
+        'zero'      => [0, '0000000000000'],
+        'full size' => [5425003944130, '5425003944130'],
+    ]);
+
+    it('rejects a negative or too large sequence', function (int $sequence): void {
+        $action = fn (): MarketingDirectCode => MarketingDirectCode::fromInt($sequence);
+
+        expect($action)->toThrow(\DomainException::class);
+    })->with([
+        'negative'  => [-1],
+        'too large' => [10_000_000_000_000],
+    ]);
+
+    it('converts back to its integer', function (): void {
+        expect(MarketingDirectCode::fromInt(42)->toInt())->toBe(42);
+    });
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponCodeTest.php b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponCodeTest.php
new file mode 100644
index 0000000..ab786fb
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintableCouponCodeTest.php
@@ -0,0 +1,28 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+
+covers(PrintableCouponCode::class);
+
+describe('printable coupon code', function (): void {
+    it('generates a unique campaign id', function (): void {
+        // WHEN
+        $id = PrintableCouponCode::generate();
+
+        // THEN
+        expect($id)->toBeInstanceOf(PrintableCouponCode::class);
+    });
+
+    it('generates different ids on each call', function (): void {
+        // WHEN
+        $first  = PrintableCouponCode::generate();
+        $second = PrintableCouponCode::generate();
+
+        // THEN
+        expect((string) $first)->not->toBe((string) $second);
+    });
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponIdTest.php b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponIdTest.php
new file mode 100644
index 0000000..76c4f07
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponIdTest.php
@@ -0,0 +1,28 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\PrintableCoupon\PrintedCouponId;
+
+covers(PrintedCouponId::class);
+
+describe('printed coupon id', function (): void {
+    it('generates a unique campaign id', function (): void {
+        // WHEN
+        $id = PrintedCouponId::generate();
+
+        // THEN
+        expect($id)->toBeInstanceOf(PrintedCouponId::class);
+    });
+
+    it('generates different ids on each call', function (): void {
+        // WHEN
+        $first  = PrintedCouponId::generate();
+        $second = PrintedCouponId::generate();
+
+        // THEN
+        expect((string) $first)->not->toBe((string) $second);
+    });
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponTest.php b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponTest.php
new file mode 100644
index 0000000..bae0a00
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/PrintedCouponTest.php
@@ -0,0 +1,62 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Domain\Models\ValueObjects\PrintableCoupon\MarketingDirectCode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintedCoupon;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintedCouponId;
+use Ramsey\Uuid\Uuid;
+
+covers(PrintedCoupon::class);
+
+describe('printed coupon', function (): void {
+    $printableCode = PrintableCouponCode::generate();
+    $marketingCode = new MarketingDirectCode('0000000000001');
+    $couponCode    = new CouponCode('AAA01');
+    $campaignCode  = new CampaignCode('AAA01');
+    $customer      = new CrmHashcode(Uuid::uuid4());
+
+    it('keeps all the given values', function () use ($marketingCode, $printableCode, $couponCode, $campaignCode, $customer): void {
+        // GIVEN
+        $id        = PrintedCouponId::generate();
+        $printedAt = new \DateTimeImmutable('2026-01-01 12:00:00');
+
+        // WHEN
+        $printed = new PrintedCoupon($id, $marketingCode, $printableCode, $couponCode, $campaignCode, $customer, $printedAt);
+
+        // THEN
+        expect($printed->id)->toBe($id)
+            ->and($printed->printableCode)->toBe($printableCode)
+            ->and($printed->couponCode)->toBe($couponCode)
+            ->and($printed->campaignCode)->toBe($campaignCode)
+            ->and($printed->customer)->toBe($customer)
+            ->and($printed->printedAt)->toBe($printedAt);
+    });
+
+    it('derives the printing date from its id', function () use ($marketingCode, $printableCode, $couponCode, $campaignCode, $customer): void {
+        // GIVEN
+        $id      = PrintedCouponId::generate();
+        $printed = new PrintedCoupon(
+            $id,
+            $marketingCode,
+            $printableCode,
+            $couponCode,
+            $campaignCode,
+            $customer,
+            new \DateTimeImmutable('2020-01-01'),
+        );
+
+        // WHEN
+        $date = $printed->printedAt();
+
+        // THEN
+        expect($date)->toEqual($id->toDateTime())
+            ->and($date)->not->toEqual($printed->printedAt);
+    });
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/UnprintedCouponTest.php b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/UnprintedCouponTest.php
new file mode 100644
index 0000000..03d5789
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/UnprintedCouponTest.php
@@ -0,0 +1,69 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\Campaign\CampaignCode;
+use Domain\Models\ValueObjects\Coupon\CouponCode;
+use Domain\Models\ValueObjects\CrmHashcode;
+use Domain\Models\ValueObjects\PrintableCoupon\PrintableCouponCode;
+use Domain\Models\ValueObjects\PrintableCoupon\UnprintedCoupon;
+use Domain\Models\ValueObjects\PrintableCoupon\UnprintedReason;
+use Ramsey\Uuid\Uuid;
+
+covers(UnprintedCoupon::class);
+
+describe('unprinted coupon', function (): void {
+    $printableCode = PrintableCouponCode::generate();
+    $couponCode    = new CouponCode('AAA01');
+    $campaignCode  = new CampaignCode('AAA01');
+    $customer      = new CrmHashcode(Uuid::uuid4());
+
+    it('keeps all the given values', function () use ($printableCode, $couponCode, $campaignCode, $customer): void {
+        // GIVEN
+        $reason = new UnprintedReason('Coupon expired before printing.');
+
+        // WHEN
+        $unprinted = new UnprintedCoupon($printableCode, $couponCode, $campaignCode, $customer, $reason);
+
+        // THEN
+        expect($unprinted->printableCode)->toBe($printableCode)
+            ->and($unprinted->couponCode)->toBe($couponCode)
+            ->and($unprinted->campaignCode)->toBe($campaignCode)
+            ->and($unprinted->customer)->toBe($customer)
+            ->and($unprinted->unprintedReason)->toBe($reason);
+    });
+
+    it('keeps the reason as given without trimming it', function () use ($printableCode, $couponCode, $campaignCode, $customer): void {
+        // GIVEN
+        $reason = new UnprintedReason('  Printer failure  ');
+
+        // WHEN
+        $unprinted = new UnprintedCoupon($printableCode, $couponCode, $campaignCode, $customer, $reason);
+
+        // THEN
+        expect($unprinted->unprintedReason)->toBe($reason);
+    });
+
+    it('rejects an empty reason', function (string $invalidReason) use ($printableCode, $couponCode, $campaignCode, $customer): void {
+        // GIVEN / WHEN
+        $action = fn (): UnprintedCoupon => new UnprintedCoupon(
+            $printableCode,
+            $couponCode,
+            $campaignCode,
+            $customer,
+            new UnprintedReason($invalidReason),
+        );
+
+        // THEN
+        expect($action)->toThrow(\DomainException::class, 'Unprinted reason cannot be empty.');
+    })->with([
+        'empty'          => '',
+        'spaces'         => '   ',
+        'tab'            => "\t",
+        'new lines'      => "\n\r\n",
+        'mixed spaces'   => " \t\n ",
+        'unicode spaces' => "\u{00A0}\u{2003}",
+    ]);
+});
diff --git a/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/UnprintedReasonTest.php b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/UnprintedReasonTest.php
new file mode 100644
index 0000000..c4cf3f9
--- /dev/null
+++ b/tests/Unit/Domain/Models/ValueObjects/PrintableCoupon/UnprintedReasonTest.php
@@ -0,0 +1,33 @@
+<?php
+
+declare(strict_types=1);
+
+namespace Tests\Unit\Domain\Models\ValueObjects\PrintableCoupon;
+
+use Domain\Models\ValueObjects\PrintableCoupon\UnprintedReason;
+
+covers(UnprintedReason::class);
+
+describe('unprinted reason', function (): void {
+    $value = 'Expired date.';
+
+    it('creates a valid rejection reason', function () use ($value): void {
+        // GIVEN / WHEN
+        $reason = new UnprintedReason($value);
+
+        // THEN
+        expect($reason)->toBeInstanceOf(UnprintedReason::class)
+            ->and($reason->value)->toBe($value);
+    });
+
+    it('rejects an empty or whitespace-only reason', function (string $invalidValue): void {
+        // WHEN
+        $action = fn (): UnprintedReason => new UnprintedReason($invalidValue);
+
+        // THEN
+        expect($action)->toThrow(\DomainException::class, 'Unprinted reason cannot be empty.');
+    })->with([
+        'empty'  => '',
+        'spaces' => '   ',
+    ]);
+});