PINEX CAPITAL GENERAL TERMS AND CONDITIONS

We are Pinex Software Solutions L.L.C-FZ, a company established and existing under the laws of the United Arab Emirates, with its registered office at Meydan Grandstand, 6th Floor, Meydan Road, Nad Al Sheba, Dubai, United Arab Emirates, License Number 2643553.01 ("we", "us", "our", "Pinex Capital" or the "Provider").

Our mission is to provide you with the educational tools and structured evaluation framework required to develop your skills as a trader. We have designed our Evaluation Process and our Pinex Trader Program with this goal in mind.

You should read this document carefully. These Pinex Capital General Terms and Conditions (the "Terms") govern the provision of our services, including our Evaluation Process and the Pinex Trader Program, in which you gain access to simulated trading environments, analytical instruments, educational materials and other services that we make available to you through the website pinexcapital.com (the "Website") (together, the "Services"). All Pinex Capital trading accounts are accounts for simulated trading only. The activity you engage in when you submit simulated trades is not trading in real financial instruments.

Payments are settled through Odeonpay ALE S.R.L. ("Paysagi"), acting solely as Merchant of Record for transaction settlement purposes. Paysagi is not the supplier of the goods or services. Payment settlement is subject to Paysagi's Terms of Use, available at https://paysagi.com/terms-of-use/, which are presented to customers during the payment process.

After you register on the Website you may order our Services (each an "Order"). When we confirm your Order a contract between you and us is concluded (each an "Agreement" and together the "Agreements"). These Terms, together with the confirmed Order, constitute the Agreement. Your agreement to these Terms is evidenced by you ticking the statement that you have read and agree with these Terms when completing the Order.

Definitions of terms and abbreviations used in these Terms can be found in Clause 21 (Definitions and Interpretation).

1. ELIGIBLE CUSTOMERS

1.1 You are only eligible to access the Services if:

(a) you are a natural person at least eighteen (18) years of age and not subject to restrictions based on your nationality or residency, as determined by the specific rules of each Restricted Jurisdiction further detailed on the Website; or

(b) you are a legal entity not established or incorporated in, and without a registered office or place of business in, a Restricted Jurisdiction, provided that the beneficial owner is eligible to access the Services under Clause 1.1(a) in their individual capacity as well.

1.2 You must not be subject to relevant international sanctions, in particular you must not be included on sanctions lists of the United Nations, the European Union, the Office of Foreign Assets Control of the United States, the United Arab Emirates or any other applicable sanctions regime. You must not have a criminal record related to financial crime, terrorism financing or money laundering.

1.3 You must meet the requirements of our "know your customer" (KYC) and "know your business" (KYB) procedures or similar identification procedures summarized on the Website.

1.4 We do not accept customers from the following Restricted Jurisdictions: Russia, Cuba, Sudan, Somalia, Iran, Lebanon, Syria, North Korea, Libya, and Vietnam, as well as any other regions published on our Website. The list may be updated from time to time at our sole discretion.

1.5 You may only access and use the Services in accordance with applicable law and these Terms.

1.6 You represent that at the time of execution of the Agreement you meet the eligibility criteria in this Clause 1. If you do not meet the eligibility criteria stated in this Clause, the Agreement is not concluded. If you cease to meet the eligibility criteria following the conclusion of the Agreement, you must notify us immediately.

2. SERVICES ARE NOT REGULATED FINANCIAL SERVICES

2.1 None of the Services are subject to laws regulating the financial sector in the countries where we provide the Services. We are not regulated by the Securities and Commodities Authority of the United Arab Emirates (SCA), the Central Bank of the United Arab Emirates (CBUAE), or any similar authority overseeing the financial sector in any other country. As a result, you will not receive regulatory protection associated with the financial sector with respect to the Services.

2.2 None of the Services constitute financial, investment, legal or tax advice or a recommendation to buy, sell or hold any financial product, virtual asset or simulated asset, or to engage in a particular investment strategy.

2.3 We do not give any guidance, instructions, limitations or information about how or in which manner you should perform simulated trades when using the Services or otherwise, with the exception of Forbidden Trading Practices and Risk Management Rules (see Clause 8 (Rules of Simulated Trading)). Similarly, we do not accept any such guidance or instructions from you, provided however that we may observe your simulated trades and use that information pursuant to Clause 16.3.

2.4 You acknowledge that you should obtain independent financial, legal or tax advice regarding your specific circumstances as appropriate.

2.5 No deposit-taking, no asset management, no order execution. We do not accept any client funds for the purpose of trading or investment. We do not manage any client assets. We do not make any individual investment decisions for clients and we do not provide any investment advice. We do not execute any client orders on regulated or unregulated financial markets, neither in the name nor on the account of clients, nor in the name or on the account of Pinex Capital. The fees you pay are consideration for access to a simulated evaluation and educational service.

3. ORDER OF SERVICES AND FEES

3.1 You can place an Order after registering and creating your user interface on the Website (the "Client Section"). During registration, login credentials for access to the Client Section (the "Profile Credentials") will be created. The Profile Credentials enable you to access further Services and you are responsible for their protection.

3.2 When completing an Order you select the version of the Pinex Challenge, the amount of Initial Simulated Capital and any other available options ("Options") which modify the Services. The Options determine the parameters which you must fulfil under the specific Order so that the Trading Objectives of the Pinex Challenge are met. Once you select the Options for an Order, you may not change them.

3.3 Data entered in the Order form can be reviewed and amended until you submit the Order. The Order is finalised and binding with payment obligation upon submission of the Order form.

3.4 During the application process, you must provide all required information about yourself. All data which you provide to us must be complete, true, accurate, not misleading and up to date. We are under no obligation to verify the data you provide. You must immediately update such data in the Client Section to reflect any change.

3.5 The fee for the Pinex Challenge (the "Challenge Fee") varies according to the version of the Pinex Challenge and the Initial Simulated Capital you select when completing the Order. More information on the Challenge Fee is available on the Website.

3.6 Discounts and other benefits may not be combined unless we expressly stipulate otherwise.

3.7 Payment of the Challenge Fee is made pursuant to individual Orders. The Challenge Fee is stated in USD or EUR but can be paid in other currencies or cryptocurrencies listed on the Website. If you select a payment currency other than the one displayed, the amount will be converted at the market exchange rate we derive from current market rates, displayed before you confirm the Order.

3.8 You can pay the Challenge Fee via the payment methods offered on the Website. The fee is considered paid when the required amount is credited to our account or our payment service provider's account. You are responsible for all fees charged to you by us or the selected payment service provider in connection with the transaction.

3.9 The Challenge Fee is inclusive of any sales tax that we are obliged to pay or withhold under applicable tax laws. You should consult your own tax advisor regarding your tax obligations.

3.10 We will confirm receipt of your Order and provide login credentials for the Trading Platform (the "Trading Platform Credentials") after receiving payment of the Challenge Fee.

3.11 Unless expressly agreed otherwise, once paid, you are not entitled to a refund of the Challenge Fee under any circumstances, except as provided under Clause 12 (Right to Withdraw from the Agreement) where applicable.

3.12 You can place multiple Orders, and each completed Order constitutes a separate Agreement. We reserve the right to limit the total number of Orders if (a) other clients connected to you are also using the Services, or (b) you place an unusually large number of Orders in our reasonable assessment.

3.13 Unless we grant you an exception, the Initial Simulated Capital may not be transferred between products (individual Orders) or mutually combined. You may also not transfer or combine your performance, Service parameters, data or any other information between Orders.

4. CLIENT SECTION AND TRADING PLATFORM

4.1 Access to all Services is provided through the Client Section or by access to applications provided by us or third parties.

4.2 You may have only one Client Section. All of the Services you order must be maintained in this Client Section. The Profile Credentials are linked to a single email address which may not be changed after registration.

4.3 Access to the Client Section and the Trading Platform is protected by the Profile Credentials and Trading Platform Credentials, respectively, which you must not share with any third party.

4.4 You are responsible for all activities performed through the Client Section or Trading Platform or otherwise using your Profile Credentials or Trading Platform Credentials.

4.5 You may request cancellation of the Client Section at any time by sending an email to support@pinexcapital.com. Such a request constitutes termination of all Agreements concluded between you and us pursuant to Clause 13.2(d). In such case, you are not entitled to any refund of fees already paid.

4.6 If you previously had a Client Section that was cancelled and you would like to create a new one, you can submit a request. We are under no obligation to accommodate such requests and will do so at our sole discretion.

4.7 The Services may be temporarily unavailable due to maintenance, upgrades or events beyond our control.

4.8 The operators of any third-party software, applications or programs which you use to access the Services are persons or entities distinct from us and such third parties' own terms and conditions and privacy policies will apply when you use their services.

4.9 If multiple individuals in the same household or under the same IP address access the Services, we may request additional verification documents to ensure these are different individuals. Circumventing any account or program limits by using multiple accounts may result in immediate closure of all relevant accounts.

5. OUR SERVICES — EVALUATION PROCESS

5.1 The main purpose of our Services is to provide you with an educational experience and a structured evaluation framework that helps you develop your skills as a trader and evaluate your performance. For this purpose, after registration on the Website, you may access the Trading Platform on which you may perform simulated trading ("Simulated Trading") as described below.

5.2 Simulated Trading simulates trading on financial markets. Information and market data (price quotes) from real financial markets, as provided by our liquidity providers, are used in Simulated Trading only to reproduce market conditions. No actual trading is taking place and there is no execution of trades on financial markets.

5.3 You acknowledge and agree that:

(a) Simulated Trading is purely fictional, meaning that the trades are simulated and not in real financial instruments;

(b) the amount shown as capital in your simulated account at any point is simulated in nature, does not represent any deposit of funds and has no monetary value; and

(c) you will not be paid any remuneration, profit share or other compensation based on the results of your Simulated Trading in the Evaluation Process.

5.4 You may participate in the following modes of Simulated Trading:

(a) Free Trial (where offered);

(b) Pinex Challenge: 1-Step, comprising one phase: the Evaluation Phase; or

5.5 As part of the Simulated Trading, you have access to the following services, which may differ in scope depending on the mode and Options selected:

(a) analytical tools and educational materials;

(b) access to the Client Section; and

5.6 We reserve the right to modify, change, replace, add or remove any elements and functions of the Services at any time without being obliged to pay you any compensation.

5.7 Free Trial. Where we make a Free Trial available, only one active Free Trial is permitted at a time. We reserve the right to suspend or limit the Free Trial at any time at our sole discretion. On expiry of the Free Trial term, access to the relevant Services will no longer be possible. We make no warranties or representations with respect to the Free Trial and we will have no liability arising out of your use of the Services during the Free Trial.

5.8 Evaluation Process.

(a) Passing a version of the Pinex Challenge is a pre-requisite for being considered for participation in the Pinex Trader Program (see Clause 6).

(b) During the Evaluation Process, your performance is measured against the Trading Objectives published on the Website.

(c) You activate each phase by opening the first simulated trade on the Trading Platform. If you do not activate a phase within thirty (30) calendar days of the date on which it was made available to you, your access to that phase will be suspended. You can request reactivation within six (6) months of the suspension; otherwise the Agreement will terminate without a right to refund of the Challenge Fee.

(d) In order to successfully pass each phase, you must:

(i) fulfil all Trading Objectives published on the Website for the relevant phase and Options;

(ii) not violate these Terms, in particular the Rules of Simulated Trading (see Clause 8); and

(iii) ensure that the aggregate amount of Initial Simulated Capital across all your accounts and accounts of parties affiliated with you, individually or in combination, does not exceed USD 400,000.

(e) Once we evaluate a phase as successfully passed, we will either make the next phase available to you free of charge, or, if there is no next phase, we will recommend you as a candidate for the Pinex Trader Program. Successfully completing the Evaluation Process does not guarantee acceptance into the Pinex Trader Program. We are not responsible for any decision not to admit you to the Pinex Trader Program.

(f) If any of the conditions in Clause 5.8(d) is breached, we will evaluate the phase, and consequently the entire Pinex Challenge, as unsuccessful.

6. PINEX TRADER PROGRAM (SEPARATE CONTRACTUAL RELATIONSHIP)

6.1 If you successfully complete the Evaluation Process, we may offer you a contract to participate in a separate program (the "Pinex Trader Program"), governed by separate Pinex Trader Program Terms. Under the Pinex Trader Program, you gain access to a Pinex Trader Account and may receive a Reward for the data you generate in your Pinex Trader Account, subject to the conditions of the Pinex Trader Program Terms.

6.2 The Reward is not a profit share, not a return on capital, not interest, and not a repayment of any deposit. You acknowledge that:

(a) the Pinex Trader Account is, at all times, a simulated account using fictitious capital;

(b) no real trades take place in financial markets in your name or on your account;

(d) the Reward is consideration for the rights you grant to Pinex Capital under Clause 16.3 (data usage rights) and for your participation in the Pinex Trader Program in accordance with its rules.

6.3 There is no legal entitlement to:

(a) admission to the Pinex Trader Program;

(b) the offer of a Pinex Trader Program contract;

(d) the continued availability of the Pinex Trader Program.

The decision to admit you to the Pinex Trader Program is made at the sole discretion of Pinex Capital, following an internal review and approval process.

6.4 The terms, conditions and agreement governing the Pinex Trader Program are set out separately. You will be advised to read those documents carefully before agreeing to be bound by them. Acceptance of these Terms does not constitute acceptance of, or admission to, the Pinex Trader Program.

6.5 The Pinex Trader Program may not be available to you in case (a) admission would result in your exceeding USD 400,000 (or its equivalent in another currency) as the aggregate maximum total of Initial Simulated Capital across all Agreements and Pinex Trader Program contracts; or (b) information provided for KYC, KYB or similar identification procedures is found to be incorrect, invalid, misleading or falsified.

6.6 Source of Reward funding. Rewards under the Pinex Trader Program are funded from the operating cash flow and operational reserves of Pinex Capital. Pinex Capital maintains operational reserves sufficient to fund Rewards independently of any incoming Challenge Fees from new customers. Rewards are not financed by client deposits, by returns from financial market activities, or by funds held on behalf of clients. The Challenge Fees that customers pay are consideration for the evaluation and educational services performed by Pinex Capital and become part of the assets of Pinex Capital upon receipt; they are not held in trust, escrow or on any segregated account for clients, and customers do not have any right or claim of recovery in respect of such fees.

7. ADD-ONS AND PROMOTIONAL OFFERS

7.1 Separately bookable add-on features ("Add-Ons") are listed on the Website. Add-Ons are generally to be purchased before starting an Evaluation Process or a promotional program. They cannot be applied retroactively during ongoing phases unless explicitly permitted by us.

7.2 Promotional offers (such as the Free 2-Step Challenge or 1K Direct Funding) may be offered from time to time by Pinex Capital at its sole discretion and are subject to specific eligibility, duration, payout, account-lifetime and termination rules published on the Website at the time of offer. Promotional offers do not establish any legal entitlement to any Reward, payout or future participation.

7.3 Pinex Capital reserves the right to modify, suspend or discontinue any promotional offer at any time without prior notice.

8. RULES OF SIMULATED TRADING

8.1 During Simulated Trading, you may perform simulated trades unless these constitute Forbidden Trading Practices. In addition, you must follow good market practice and market-standard risk management rules ("Risk Management Rules"), as set out in Clause 8.4 and on the Website.

8.2 You agree that the Services are for your personal use only. You will not, in particular:

(a) allow access to Simulated Trading on any of your accounts, or data related thereto, by any third party, nor cooperate with any third party to perform simulated trades for you or in coordination with you;

(b) access accounts of any other person, simulated trade on behalf of any other person, or perform any account management or similar services for any other person; or

(c) if you are a legal entity, share access to the Services, including the Trading Platform, with your employees except for members of top management or another body with the highest executive authority.

8.3 Forbidden Trading Practices. You must not engage in any Simulated Trading which involves Forbidden Trading Practices. Forbidden Trading Practices include, but are not limited to:

(a) Hedging. Opening opposing positions on the same asset within the same account, between accounts of the same trader, or across accounts of different traders.

(b) Duplicate Trades Across Accounts. Duplicating trades (manually or via Expert Advisors) between accounts.

(c) Strategy Inconsistency. Switching strategies between the Evaluation Process and the Pinex Trader Program in a manner inconsistent with the strategy demonstrated during evaluation.

(d) Use of Prohibited Tools. Use of trading strategies, pre-built Expert Advisors or tools specifically marketed to pass evaluation accounts. The use of Expert Advisors or automated tools in the Pinex Trader Program is prohibited.

(e) Exploitation of Errors or Latency. Exploiting pricing errors, broker platform errors, or latency arbitrage.

(f) Insider Trading. Use of non-public or insider information for trading purposes.

(g) Front Running. Placing trades in advance of anticipated client orders or based on non-public information.

(h) Endangering Broker Relationships. Trading in a manner that may harm Pinex Capital's relationship with its liquidity provider or that leads to trade cancellations.

(i) All-or-Nothing Trading. Excessively high-risk trades where a single trade could result in the loss of the entire account balance.

(j) Excessive-Risk Strategies. Any trading behaviour deemed excessively risky in our reasonable assessment.

(k) Gambling Behaviour. Executing more than 50 percent of trades with a holding time of less than one minute.

(l) One-Sided Betting. Aggressively increasing positions within a single trade idea regardless of profit or loss status.

(m) Excessive Position Scaling. Opening three or more positions within the same trade idea (including the initial position and all subsequent additions).

(n) Maximum Margin Usage. Total margin usage exceeding 80 percent of the account balance across all simultaneously open positions.

(o) Unsecured Position Accumulation. Adding multiple positions without securing earlier trades (e.g., by moving stop losses to break even).

(p) Abuse of the Simulated Environment. Consistently executing large-volume trades without a clear or logical trading strategy.

We reserve the right to determine, at our sole discretion and acting reasonably, whether certain simulated trades, practices, strategies or situations qualify as a Forbidden Trading Practice. We may update the list of Forbidden Trading Practices from time to time.

8.4 Risk Management Rules. A fundamental aspect of our mission is to educate traders and enhance their skills so they cultivate responsible trading habits. Market-standard risk management rules include, by way of example, avoiding:

(a) opening substantially larger position sizes compared to your other simulated trades;

(b) opening substantially smaller or larger numbers of positions compared to your other simulated trades; and

(c) repeated simulated trading activity that results in higher Risk per Trade Idea, exposing your account to cumulative exposure in a specific symbol or correlated symbols.

8.5 Consequences of Forbidden Trading Practices and breach of Risk Management Rules. If, acting reasonably, we determine that you have engaged in Simulated Trading involving Forbidden Trading Practices or breach of Risk Management Rules, we may, at our sole discretion:

(a) consider it a failure to meet the Trading Objectives;

(b) cancel, consolidate or reclassify one or more simulated trades, remove transactions from your trading history, and/or not count their results in profits and/or losses achieved in Simulated Trading;

(c) immediately cancel all Services provided to you, including access to the Client Section and the Trading Platform, and terminate any Agreement with immediate effect;

(d) take applicable steps under the Pinex Trader Program Terms in respect of any Pinex Trader Account you hold, including cancellation of the account or any Reward thereunder, and termination of the respective agreement;

(e) reduce the offered leverage on any or all of your accounts or simulated trades;

(f) enforce a limitation on Risk per Trade Idea;

(g) enforce a limitation on the volume of any specific symbol or asset class;

(h) impose restrictions on the use of the Trading Platform; and

(i) introduce any other additional measures we deem necessary or appropriate to ensure that your Simulated Trading activity is genuine and not aimed at the mere exploitation of our model.

8.6 We will endeavour to notify you of any action we take, but we are not required to notify you in advance.

8.7 If Forbidden Trading Practices are executed across multiple accounts of yours or related customers, we are entitled to cancel all Services and terminate all Agreements relating to all such accounts with immediate effect, and to apply other measures in Clause 8.5 in respect of all involved accounts.

8.8 We are not obliged to provide any compensation if we take action under this Clause 8. You are also not entitled to any refund of the Challenge Fee. We may adopt measures to prevent you from using our Services in the future.

9. USE OF THE WEBSITE, SERVICES AND OTHER CONTENT

9.1 All Content is subject to legal protection under copyright laws and other applicable laws and is our property or our licensor's property. We grant you a limited, non-exclusive, non-transferable, non-assignable, non-sublicensable and revocable permission to use the Content for the purpose of using the Services for your personal use and in accordance with these Terms.

9.2 All trademarks, logos, trade names and other designations displayed on or through the Services are our property or our licensor's property, and we do not grant you any authorisation to use them.

9.3 When accessing the Services and the Content you agree that you will not:

(a) use any tools that may adversely affect the operation of the Website, the Services or the Content, or that exploit errors, bugs or other deficiencies;

(b) circumvent geographical or technical restrictions;

(d) reverse-engineer, decompile, disassemble or otherwise modify the Website, the Services or the Content;

(e) sell, rent, lend, license, distribute, reproduce, spread, stream, broadcast or otherwise use the Website, the Services or the Content other than as expressly permitted in these Terms;

(f) use automated means to view, display or collect information available through the Website, the Services or the Content;

(g) use any other tools or means that could cause damage to us, the Website, the Services or the Content.

9.4 You must inform us if you use the same payment channel, payment component (such as debit/credit card, external wallet, or crypto address) or device (computer, mobile phone or tablet) for accessing the Services as another user.

10. DISCLAIMER AND INDEMNIFICATION

10.1 The Services, the Website and the Content are provided "as is" and we hereby disclaim, to the fullest extent permitted by law, any statutory, contractual, express and implied warranties of any kind, including any warranty of quality, merchantability, fitness for a particular purpose or non-infringement.

10.2 To the fullest extent permitted by law, we are not responsible for:

(a) any harm, including any direct, indirect or consequential damage, lost income or profit, loss of data, personal or other non-monetary harm, or property damage caused as a result of use of the Services or reliance on any instrument, functionality, information or other content available in connection with the Services or otherwise on the Website;

(b) our failure to provide the Services if such failure occurs due to technical or operational reasons beyond our control, in case of any crisis, natural disaster, war, insurrection, pandemic, force majeure event, or if we are prevented from providing the Services as a result of legal obligations or decisions of a court, tribunal or public authority;

(d) the Trading Platform and any information displayed on the Trading Platform, all of which is provided by a third party, or for any interruptions, delays or inaccuracies in market or statistical data; and

(e) trading or other investment activities performed by you outside of your relationship with us, for example by using data or other information from the Client Section, the Trading Platform or otherwise related to the Services in real trading on financial markets.

10.3 In case our liability is established by a court, tribunal or other competent public authority, this liability will be limited to the amount corresponding to the Challenge Fee you have paid for the Services in connection with which you have incurred the loss.

10.4 Nothing in these Terms is intended to exclude, restrict or modify the application of any mandatory consumer protection laws applicable to you.

10.5 You shall indemnify, hold harmless and, at our option, defend us from and against any and all losses, damages, liabilities and costs (including reasonable attorneys' fees) resulting from any third-party claim arising out of (i) your negligence or wilful misconduct; (ii) your use of the Services or the Website in a manner not authorised by these Terms; (iii) your use of the Services in combination with software, hardware or technology not provided or authorised by us; or (iv) your modifications to the Services or the Website.

11. BREACH OF THESE TERMS

11.1 We may prevent you from ordering further Services and restrict your access to existing Services, including the Client Section and the Trading Platform, without prior notice, if you breach any provision of these Terms. If you breach Clause 1 (Eligible Customers), Clause 3.4, Clause 8 (Rules of Simulated Trading), Clause 9 (Use of Website, Services and Content), or act in a manner that may damage our reputation, including after termination of an Agreement, we will terminate one or more Agreements and you will lose access to the Services. We may also adopt measures to prevent you from using our Services in the future.

11.2 We are not obliged to provide you with any compensation in the cases set out in Clause 11.1.

12. RIGHT TO WITHDRAW FROM THE AGREEMENT

12.1 If you are a Consumer, and where applicable consumer protection law grants you a right of withdrawal, you have the right to withdraw from the Agreement relating to an individual Order without giving a reason during a fourteen (14) calendar-day period following the execution of such Agreement.

12.2 However, you may not withdraw from the Agreement after you start using the Service. Therefore, your withdrawal right applies only before you open your first simulated trade on the Trading Platform. By opening the first simulated trade during the fourteen (14) calendar-day period, you expressly consent to the Services being provided in full and you lose the right of withdrawal.

12.3 You must send the withdrawal notice to us by email within the specified time limit. We will refund the Challenge Fee and any other payment you made to us in connection with the respective Order no later than fourteen (14) calendar days after receipt of the withdrawal, using the same payment method you used.

13. DURATION AND TERMINATION OF THE AGREEMENT

13.1 The Agreement is concluded for a definite period, until the Pinex Challenge is successfully passed or failed in accordance with Clause 5.

13.2 The Agreement may be terminated early in the following cases:

(a) The Agreement terminates automatically and with immediate effect: (i) in case you reject a Modification as set out in Clause 15; (ii) upon your death or, in case of legal entities, a filing for bankruptcy, winding-up, dissolution or liquidation; or (iii) if your registration on the Website is duplicative.

(b) We may terminate the Agreement with immediate effect: (i) if you do not meet the criteria set out in Clause 1; (ii) if you do not pay the Challenge Fee; (iii) due to your inactivity; (iv) if you breach the rules regarding personal use of the Services; (v) if access to the Client Section is terminated; (vi) if you engage in Forbidden Trading Practices; (vii) if we reasonably determine that the provision of Services would adversely affect our ability to comply with our legal obligations or orders or decisions of any competent court, tribunal or public authority; (viii) as a result of your breach of these Terms; or (ix) as a result of a change to these Terms as set out in Clause 15.

(c) We reserve the right to terminate the Agreement in respect of any account in case of your prolonged inactivity, defined as: (i) not opening at least one simulated trade for thirty (30) consecutive calendar days; or (ii) maintaining a loss in the account between 8% and 10% (inclusive) of the Initial Simulated Capital for a period longer than thirty (30) calendar days.

(d) Either party may terminate the Agreement without cause by serving a written notice at least fourteen (14) calendar days in advance.

13.3 If the Agreement is terminated, all Services provided under such Agreement are terminated.

13.4 The following Clauses survive termination of the Agreement: Clause 9 (Use of the Website, Services and other Content); Clause 10 (Disclaimer and Indemnification); Clause 16 (Personal Information and Simulated Trading Information).

13.5 We are not obliged to provide you with any compensation if we exercise our rights under Clause 13.

14. TECHNICAL ISSUES, DEFECTIVE PERFORMANCE AND COMPLAINTS

14.1 If you encounter any technical issue or defect of the Services, you agree to report them to us at your earliest convenience using the forms or contact methods specified on the Website, providing the affected account and a description including date and time. If you continue to perform new simulated trades after observing a technical issue without receiving a response from our team, you may be deemed fully responsible for the outcome of such trades.

14.2 If the Services do not correspond to what was agreed, you may exercise rights from defective performance: you may request that we remedy the defect or that we provide you with a reasonable discount. If the defect cannot be remedied, you may withdraw from the affected Agreement or claim a reasonable discount.

14.3 If you have complaints or suggestions, we will be happy to discuss them directly with you. You can file a complaint by sending an email to support@pinexcapital.com. We will try to resolve any complaint as soon as possible, no later than within thirty (30) calendar days, and will confirm receipt and settlement in writing.

14.4 If you unlawfully file a chargeback or payment dispute with your bank or payment service provider, we are entitled to suspend or terminate the provision of all Services and to deny any future provision of any Services. The customer will be permanently banned from the platform for chargeback abuse.

15. CHANGES TO THESE TERMS

15.1 We may amend these Terms in the future (each such amendment a "Modification"). We will send you a notice of any Modification at least seven (7) calendar days before the change takes effect, via the Client Section or by email. Your continued use of the Services after the effective date will constitute acceptance of the Modification.

15.2 If you do not agree with the Modification, you may reject it by email no later than the last business day before the changes take effect. In such case all affected Agreements will be automatically terminated.

15.3 If the Modification offers you a new service or additional functionality, or is solely to your advantage, we may inform you of such change less than seven (7) calendar days before its effective date.

15.4 We may amend these Terms to, among other things:

(a) introduce new services or products or amend existing services or products;

(b) reflect legal or regulatory requirements applicable to us or the Services;

(d) adjust the way our Services are provided due to technological or operational developments; or

(e) reflect changes in the cost of offering the Services.

15.5 The current version of these Terms applies to your use of the Services from the date stated at the top of this document.

16. PERSONAL INFORMATION AND SIMULATED TRADING INFORMATION

16.1 When providing the Services, we will process your personal data in accordance with our Privacy Policy, available on the Website, which may be updated from time to time. Where applicable, we comply with the EU General Data Protection Regulation (GDPR) and analogous data protection regimes.

16.2 If you are a legal entity, we may collect personal data of your employees, officers or representatives. You represent that you have the authority to provide such information and have provided them with our Privacy Policy.

16.3 Simulated Trading Information — Use, Analysis and Reward. You acknowledge that, while providing the Services, we have access to information about simulated trades that you perform on the Trading Platform, including but not limited to order patterns, position sizes, execution timing, performance statistics, drawdown patterns, asset preferences, strategy characteristics and behavioural data (collectively, "Simulated Trading Information"). You consent to us, and any of our affiliates:

(a) using such Simulated Trading Information for the following internal purposes: (i) developing, improving and operating our products and services (including the Evaluation Process and the Pinex Trader Program); (ii) calibrating risk management models, programme parameters and Trading Objectives; (iii) detecting and preventing Forbidden Trading Practices, fraud, manipulation, latency arbitrage and abuse; (iv) producing aggregated and anonymised educational, analytical and instructional content (including eBooks, articles, webinars, training materials and community knowledge resources); (v) conducting market, behavioural and quantitative research; and (vi) training and validating algorithms, statistical models and machine-learning systems used in connection with our Services;

(b) processing and analysing such Simulated Trading Information by automated means;

16.4 The Simulated Trading Information that we share, use, process or analyse is, where shared externally or used in published materials, anonymised or aggregated and does not identify you personally.

16.5 No sale of Simulated Trading Information to third parties. Pinex Capital does not sell, rent or otherwise commercially transfer Simulated Trading Information to unaffiliated third parties. Disclosures to service providers (e.g. cloud, hosting, analytics or KYC providers) acting on our behalf under appropriate data processing agreements, and disclosures required by law or competent authorities, are not considered a sale or commercial transfer for the purposes of this Clause.

16.6 You agree that these activities may be performed automatically without any further consent or consultation. You agree that you have no right or entitlement to any benefit, fee, royalty or other compensation in connection with the use of such Simulated Trading Information by us or our affiliates other than any Reward expressly granted to you under the Pinex Trader Program in accordance with its terms. Your consent under this Clause 16 survives termination of the Agreement.

16.7 We are not obliged to provide you with information relating to our specific use of such Simulated Trading Information.

16.8 The termination of the Agreement does not affect the processing and use of any Simulated Trading Information obtained prior to termination.

16.9 Reward Calculation. Where a Reward is granted to you under the Pinex Trader Program, the amount of the Reward is determined on the basis of the value of the Simulated Trading Information generated, taking into account factors such as data depth (number of trades, asset classes traded, programme phase), data quality, demonstrated discipline and consistency, and any further criteria set out in the Pinex Trader Program Terms. Programme performance is used as a quality indicator for the generated data; it is not, in itself, the basis on which the Reward is calculated, and the Reward is not a share of any "profit" earned in Simulated Trading (no real profit is generated, as no real trades take place).

17. OUT-OF-COURT CONSUMER DISPUTE RESOLUTION

17.1 Where mandatory consumer protection law in your country of residence provides for out-of-court dispute resolution mechanisms, you may make use of such mechanisms in accordance with applicable law. EU residents may use the platform at https://ec.europa.eu/consumers/odr to resolve disputes online. Disputes may be initiated provided that you and we did not manage to resolve the dispute directly.

18. GOVERNING LAW AND JURISDICTION

18.1 The Agreement, including these Terms and any Services provided thereunder, and any non-contractual obligations arising under the Agreement, are governed by the federal laws of the United Arab Emirates and the laws of the Emirate of Dubai applicable therein, without giving effect to any conflict-of-law principles.

18.2 Without prejudice to Clause 17 and to any mandatory consumer protection laws applicable to you, the parties agree that any dispute arising out of or in connection with the Agreement (including a dispute relating to the existence, validity or termination of the Agreement) shall be referred to and finally resolved by the courts of the Dubai International Financial Centre (DIFC), which shall have exclusive jurisdiction (opt-in pursuant to Dubai Law No. 12 of 2004 as amended).

18.3 Mandatory consumer protection provisions in the country of the customer's habitual residence remain unaffected.

19. COMMUNICATION AND NOTICES

19.1 We will generally communicate with you, and give you notices in connection with the Services, electronically via the Client Section or to the email address you have registered with us. You may not change the email address after registration without our consent. You consent to us providing any notices or documents which we are required to provide to you under applicable law in this manner.

19.2 Such communication is considered written communication and delivered when we have sent it to your registered email address or when it has been added to the Client Section. You are responsible for ensuring that your email address is accessible to you for receiving communications from us.

19.3 Please use the contact methods listed on the Website for all communication regarding this Agreement or the Services.

20. GENERAL PROVISIONS

20.1 We have not adopted any consumer code of conduct beyond statutory requirements.

20.2 The Agreement is concluded in the English language. By entering into the Agreement and accepting the Services, you confirm that you understand the English language and agree to communicate with us in English for all purposes arising under the Agreement. Where translations are provided, the English version shall prevail in case of discrepancy.

20.3 We archive the Agreement in electronic form. A copy of the Agreement, including these Terms and your Orders, is available in the Client Section.

20.4 The Agreement, together with any other documents incorporated by reference, constitutes the sole and entire agreement between you and us with respect to the subject matter and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral.

20.5 You agree that we may assign or transfer the Agreement or any part thereof to a third party. You may not transfer the Agreement or any part thereof to a third party without our prior written consent.

20.6 If at any time any provision of the Agreement is or becomes void, illegal, invalid, ineffective or unenforceable in any respect, it will not affect the validity, effectiveness or enforceability of the remaining provisions. Any such void provision will be replaced by a provision which best achieves the commercial effect intended thereby and is valid, effective and enforceable.

20.7 We shall not be liable to you for any failure or delay in performing our obligations to the extent such failure or delay is caused by circumstances beyond our reasonable control, including but not limited to acts of God, flood, fire, earthquake, explosion, war, terrorism, invasion, riot, civil unrest, strikes, labour stoppages, pandemics, server failures, cyberattacks, or actions taken by a governmental or public authority.

20.8 No past or future practice established between the parties, and no custom maintained in the industry, that is not expressly referred to in the Agreement, will be applied or give rise to any rights and obligations.

20.9 Each party acknowledges and agrees that a breach or threatened breach of Clause 9.3 would cause the other party irreparable harm for which monetary damages would not be an adequate remedy, and agrees that the other party will be entitled to injunctive relief and any other available remedy.

20.10 No failure or delay on our part to exercise any right under the Agreement will operate as a waiver. No single or partial exercise of any right will prevent any further exercise of that right or any other right.

20.11 Both parties undertake to act in accordance with the principles of fair dealing in the performance of the Agreement and not to damage each other's reputation or legitimate interests. Both parties will work in good faith to resolve any disagreements or disputes.

20.12 Prior to the conclusion of the Agreement, both parties have carefully assessed the possible risks arising from it and accept those risks.

21. DEFINITIONS AND INTERPRETATION

21.1 In these Terms, the following terms have the meanings set out below:

"Add-On" means a separately bookable add-on feature listed on the Website.

"Agreement" means the contract between you and us concluded when we confirm your Order.

"Challenge Fee" means the fee for the Pinex Challenge, varying according to the Options selected.

"Client Section" means the user interface on the Website, also referred to as the "Customer Area" or "User Area".

"Consumer" means any natural person who is acting for purposes outside their trade, business, craft or profession.

"Content" means the Website and all the Services, including the Client Section, their appearance and all applications, data, information, multimedia elements such as texts, drawings, graphics, design, icons, images, audio and video samples and other content that may form part of the Services.

"Evaluation Process" means the Pinex Challenge under Clause 5.8.

"Forbidden Trading Practices" means the trading practices, strategies or situations specified in Clause 8.3 and on the Website.

"Free Trial" means the option to use certain Services within a limited scope and for a limited period free of charge.

"Initial Simulated Capital" means the simulated amount that you have chosen when selecting the Options and that you will use to perform Simulated Trading.

"KYC" and "KYB" mean "Know Your Customer" and "Know Your Business" identification and verification procedures.

"Modification" means our right to modify, change, replace, add or remove any elements and functions of the Services or these Terms in accordance with Clause 15.

"Options" means the options you select when completing the Order.

"Order" means an order of the Pinex Challenge or other Services made on the Website.

"Pinex Capital", "we", "us" or "Provider" means Pinex Software Solutions L.L.C-FZ.

"Pinex Challenge" means the Service described in Clause 5.8 (Evaluation Process), provided in two versions: (a) Pinex Challenge: 1-Step and (b) Pinex Challenge: 2-Step.

"Pinex Trader Account" means a simulated trading account associated with the Pinex Trader Program.

"Pinex Trader Program" means the program described in Clause 6, governed by separate Pinex Trader Program Terms.

"Pinex Trader Program Terms" means the separate terms and conditions governing participation in the Pinex Trader Program, made available by us in connection with any offer of admission to the Pinex Trader Program.

"Profile Credentials" means the login credentials for access to the Client Section.

"Restricted Jurisdictions" means the countries listed in Clause 1.4 and any further countries from which we do not accept customers, as published on the Website from time to time.

"Reward" means the data-based reward that may be granted under the Pinex Trader Program, as described in Clauses 6 and 16.

"Risk Management Rules" means the risk management rules set out in Clause 8.4.

"Risk per Trade Idea" means the total exposure in a specific symbol (or correlated symbols) on your account during a given moment or within a specific time period, measured as a percentage of your Initial Simulated Capital, with the associated risk determined by the maximum drawdown of realised or unrealised loss of the positions linked to the same trade idea.

"Services" means our services that we enable you to access through the Website, as further described in Clause 5 and Clause 6.

"Simulated Trading" means the activity that simulates trading on financial markets that you perform on the Trading Platform, in which information and market data (price quotes) from real financial markets, as provided by our liquidity providers, are used only to reproduce market conditions; no actual trading is taking place and there is no execution of trades on financial markets. Also referred to as "demo trading" in marketing materials and on the Website.

"Simulated Trading Information" has the meaning given in Clause 16.3.

"Terms" means these Pinex Capital General Terms and Conditions.

"Trading Objectives" means the requirements set by us that you must meet before you can advance from one phase of the Pinex Challenge to the next, or be considered for participation in the Pinex Trader Program.

"Trading Platform" means the electronic interface, provided by a third party, in which you perform Simulated Trading.

"Trading Platform Credentials" means the login credentials for access to the Trading Platform.

"Website" means the website pinexcapital.com.

21.2 If we use a currency in these Terms, equivalents in other currencies apply as well.

21.3 Headings are for convenience only and do not affect the interpretation of these Terms.

Effective as of: 27 April 2026

Pinex Software Solutions L.L.C-FZ Meydan Grandstand, 6th Floor, Meydan Road, Nad Al Sheba, Dubai, United Arab Emirates License Number: 2643553.01 Email: support@pinexcapital.com Website: www.pinexcapital.com

By using Pinex Capital's Services, you confirm that you have read, understood, and accepted these Terms.