NAGA Ecosystem

Terms & Conditions

The NAGA Ecosystem offers a range of different services and products which are operated by different entities under the NAGA brand. By opening a NAGA Ecosystem account, you gain access to the whole range of services and products offered within the NAGA Ecosystem. You can naturally choose which products and services you would like to utilise. However, since there is no technical separation between the different products and services, and since we believe in the smooth integration of different asset classes, you will need to read and accept the terms and conditions of each of those entities as listed in this document in order to be able to open an account.

Should you decide to only use parts of the Ecosystem, such as for example the NAGA TRADER application only, then only the terms and conditions of NAGA Markets Ltd (or NAGA Capital), depending on your country of residency, will be immediately relevant to you. However, you would still need to read and accept the terms and conditions of NAGA Development Association Ltd, so that you can effortlessly access any other product or service within the Ecosystem, should you decide to do so at any time in the future.

Furthermore, your country of residence impacts the set of terms & conditions applicable to you:

If you are a resident in the EEA (EU included) or Switzerland, then only the Terms & Conditions of NAGA Markets Ltd and NAGA Development Association Ltd apply to you. In this case, your use of a NAGA Ecosystem account is governed by a contract between you and each of (1) NAGA Markets Ltd and (3) NAGA Development Association Ltd.

If you are a resident in any country that is not in the EEA (EU included) or Switzerland, then only the Privacy Policy of NAGA Capital Ltd and NAGA Development Association Ltd apply to you. In this case, your use of a NAGA Ecosystem account is governed by a contract between you and each of (2) NAGA Capital Ltd and (3) NAGA Development Association Ltd.

Thus, depending on your country of residence, your use of a NAGA Ecosystem account is governed by a contract between you and each of:

1. NAGA Markets Ltd.1, a private limited company incorporated in Cyprus with company number HE 251168 and whose registered office is 27 Spyrou Kyprianou, Mesa Geitonia, CY-4003 Limassol, Cyprus;

2. NAGA Capital Ltd., a private limited company incorporated in St. Vincent & the Grenadines with International Business company number 24501 IBC;

3. NAGA Development Association Ltd., a private limited company incorporated in Belize with company number 168399 and whose registered office is 123 Barrack Road, Belize City, Belize.

ContentNAGA TRADER (NAGA MARKETS) Terms & Conditions............................................................5

1 NAGA Markets Ltd (former Hanseatic Brokerhouse Global Markets Ltd) is regulated by CySEC under license No. 204/13- Trading CFDs carries risk and could result in the loss of your deposit, please trade wisely

NAGA TRADER (NAGA CAPITAL) Terms & Conditions..............................................................7

NAGA WALLET Terms & Conditions...............................................................................................9

1. Eligibility and Agreement..............................................................................................10

2. The NAGA WALLET Services.........................................................................................11

3. Knowledge required......................................................................................................12

4. Modifications and Change of Terms..............................................................................12

5. External sites or services...............................................................................................12

6. Errors & bugs.................................................................................................................13

7. Registration and creating an account...........................................................................13

8. Cryptocurrency transactions.........................................................................................13

9. Third-Party Payments...................................................................................................14

10. Suspension, Termination, and Cancellation.................................................................14

11. Taxes...............................................................................................................................14

12. Entire Agreement...........................................................................................................15

13. Fees.................................................................................................................................15

14. Liability...........................................................................................................................15

15. Governing Law and Jurisdiction....................................................................................16

16. Severability.....................................................................................................................16

NAGA EXCHANGE Terms & Conditions.........................................................................................17

1. Interpretation.................................................................................................................19

2. Governing Law...............................................................................................................19

3. License to use the Services............................................................................................20

4. Trading & Financing Activitie........................................................................................20

5. BETA...............................................................................................................................20

6. Fees.................................................................................................................................20

7. Risks and limitation of liability.....................................................................................21

8. Withdrawals...................................................................................................................21

9. Resolution of Disputes...................................................................................................21

10. Prohibited Uses..............................................................................................................22

11. Due Diligence..................................................................................................................23

12. Intellectual Property......................................................................................................23

13. Your Representations & Warranties.............................................................................24

14. No Representations & Warranties by NDAL................................................................25

15. No Advice........................................................................................................................25

16. Limitation of Liability & Release...................................................................................25

17. No Waiver.......................................................................................................................26

18. Force Majeure.................................................................................................................26

19. Assignment.....................................................................................................................26

20. Severability.....................................................................................................................26

NAGA TRADER (NAGA MARKETS) Terms & Conditions

Last Update: 28.11.2018

Please read these Terms and Conditions of Use (“Terms”, “Terms and Conditions”) carefully before using the NAGA TRADER application on iOS and Android, the NAGA TRADER application and website on www.nagatrader.com or any other website (the “Services”) which is operated by NAGA MARKETS Ltd. (“NAGA MARKETS”, “The Service Provider”, “us”, “we”, or “our”). Your access to and use of the Services is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services. Please read and understand these Terms:

(a) Terms of Use of the Website (http://files.naga-markets.com/legal_documentation/Terms_and_Conditions_for_the_Use_of_the_Website_31072017.pdf)

(b) Client Agreement (http://files.naga.com/Client_Agreement.pdf)(c) Company Information

(http://files.naga-markets.com/legal_documentation/Company_Information_%2031072017.pdf)

(d) Client Categorization Policy (http://files.naga.com/Client_Categorisation_Policy.pdf)(e) Conflicts of Interest Policy

(http://files.naga-markets.com/legal_documentation/Conflicts%20_of_Interest_%2031072017.pdf)

(f) Risk Disclosure and Warnings Notice (http://files.naga.com/Risk_Disclosure_and_warnings_Notice.pdf)

(g) Investor Compensation Fund Notice (http://files.naga-markets.com/legal_documentation/Investor_Compensation_Fund_31072017.pdf)

(h) Privacy Policy of NAGA MARKETS (http://files.naga-markets.com/legal_documentation/Privacy_Policy_EU.pdf)

(i) Complaints Handling Procedure (http://files.naga-markets.com/legal_documentation/Complaints%20Policy_%2031072017.pdf)

(j) Agent Information Record (http://files.naga-markets.com/legal_documentation/Agent_Information_Record_31072017.pdf)

(k) Pillar III 2017 (https://s3.eu-central-1.amazonaws.com/files.naga-markets.com/legal_documentation/nagamarkets_pillar_iii.pdf)

(l) Introducer Agreement (https://s3.eu-central-1.amazonaws.com/files.naga-markets.com/legal_documentation/introducer_agreement.pdf)

(m)Risks & Policy Related to Trading CFDs on Cryptocurrencies (http://files.naga.com/Risk_Cryptocurrency_NM.pdf)

(n) Product KID (http://files.naga-markets.com/legal_documentation/key_investor_information.pdf)

(o) Execution Quality Summary Statement (https://s3.eu-central-1.amazonaws.com/files.naga-markets.com/legal_documentation/execution_quality_statement.pdf)

(p) Order Execution Policy (https://s3.eu-central-1.amazonaws.com/files.naga-markets.com/legal_documentation/Order+Execution+Policy.pdf)

All these documents can also be found at https://nagamarkets.eu/legal-documentation/.

NAGA TRADER (NAGA CAPITAL) Terms & Conditions

Last Update: 28.11.2018

Please read these Terms and Conditions of Use (“Terms”, “Terms and Conditions”) carefully using the NAGA TRADER application on iOS and Android, the NAGA TRADER application and website on www.nagatrader.com or any other website (the “Services”) which is operated by NAGA Capital Ltd. (“NAGA Capital”, “The Service Provider”, “us”, “we”, or “our”). Your access to and use of the Services is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services. Please read and understand these Terms:

(a) Client Agreement (http://files.naga-markets.com/legal_documentation/Client_Agreement_NC.pdf)

(b) Risk Disclosure and Warnings Notice (http://files.naga-markets.com/legal_documentation/Risk_Disclosure_NC.pdf)

(c) Privacy Policy of NAGA MARKETS (http://files.naga-markets.com/legal_documentation/Privacy_Policy_NC.pdf)

All these documents can also be found at https://nagacap.com/legal-documentation/.

NAGA WALLET Terms & Conditions

Last Update: 28.11.2018

Please read these Terms and Conditions of Use ("Terms", "Terms and Conditions") carefully before using the NAGA WALLET application and websites on https://nagawallet.com or any other website (the "Services") which is operated by NAGA Development Association Ltd. (“NDAL”, “The Service Provider”, "us", "we", or "our"). Your access to and use of the Services is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services.

1. Eligibility and Agreement

If you use our Services these Terms apply. If you do not agree to these Terms, you must not use our Services. You can use our Services only if you can lawfully enter into an agreement to these Terms under applicable law. If you use our Services, you agree to do so in compliance with these Terms and with applicable laws and regulations. In respect of the Services, you shall comply with these Terms, any relevant Policies and the Applicable Laws. In particular, you shall not misuse the Services or do (or attempt to do) any of the following acts (“Prohibited Use”):

(a) violate any Applicable Laws;

(b) access or use the Services by any means other than the interface made available by NDAL;

(c) circumvent any access or use restrictions put into place to prevent certain access or use of the Services;

(d) interfere with any other party's use of the Services;

(e) Obtain unauthorized access to any Services, any server of NDAL, any computer systems or networks connected to any server of NDAL or to any of the Services;

(f) use the Services in any manner which may interfere with, disrupt, disable, overburden or impair the any server of NDAL, any computer system or network connected to the server of NDAL;

(g) use or transmit any data, software or material which contains or which may contain viruses, worms or other potentially harmful components which may infect, damage or otherwise interfere with any Services, any server of NDAL, any computer systems or networks connected to any server of NDAL or to any of the Services;

(h) modify, reverse engineer, decompile, disassemble, create derivative works or attempt to discover any source code or underlying ideas or algorithms of any Services;

(i) Harvest or otherwise collect Personal Data about other users of the Services;

(j) Infringe any of the Intellectual Property Rights of any party (including NDAL);

(k) Engage in any unlawful or fraudulent activity, including (for example) any transactions involving prohibited or controlled substances, illegal content and services, money-laundering or the funding of terrorism; or cause or permit any third party to do any of the foregoing.

2. The NAGA WALLET Services

2.1 Digital asset management

NDAL provides a service to let users store, use, convert and manage their digital assets, using our wallet service, which we call NAGA WALLET.

The NAGA WALLET currently supports the following cryptocurrencies: Bitcoin, Litecoin, DASH, Bitcoin Cash, Tether, Ripple, Ethereum as well as any ERC20 token. Support for more currencies may be added in the future. If you want to store, transfer and/or use any cryptocurrency that is not supported by NAGA WALLET, you cannot do it through the NAGA WALLET Services. If you send or transfer to your NAGA WALLET digital currency that is not supported, we shall not be responsible to receive or store it in any way and you may lose any right in connection to such digital currency or value without any right or claim to NDAL.

Transactions are fully executed through funds deposited by the User minus the Network Fee (as defined under Section 13).

Purchases of tokens on the Site are settled by actual delivery of the full amount of tokens by the seller to the purchaser’s account against payment in full by the purchaser to the seller’s account.

The Service Providers are not responsible for any loss due to the decrease of the value of tokens the User may decide to buy through the Wallet.

If, as a consequence of a "fork" (as such term is commonly known), cryptocurrency holders are granted with equivalent or proportional amount of the new digital currency or values, we shall not have any obligation whatsoever in connection to such new digital currency or value, providing however, that we may grant you, at its sole discretion, a reasonable term to withdraw such digital currency or value to a third party. If you don't withdraw the total balance of the digital currency or value within such term, we reserve the right to automatically convert the total balance of such cryptocurrency into Bitcoin and credit it to your NAGA WALLET. We may also choose to hold the new digital currency or values for you. We will usually communicate our course of action in such an event in advance to you. The above does not mean and cannot be interpreted in any way as an obligation for us to provide any support or withdraw option of any new digital currency or value.

The Services developed by us is provided "as is". We make no warranties, expressed or implied, and hereby disclaim and negate all other warranties, including without limitation, implied warranties or conditions of merchantability, or non-infringement of intellectual property or other violation of rights.

2.2 ICO service

NAGA WALLET users can buy tokens from third-party ICOs. These third-party ICOs are usually neither controlled by the Service Provider nor related to them. In the case one of the ICO promoted has also a relation with the Service Provider; this would be indirect and non-material. In any case the Service Provider have neither any responsibility about tokens the user may decide to buy nor can make any assurance about the ICO project. By using the Wallet, the User is aware and agrees that the Service Provider cannot take any liability with respect to the ICO the User will subscribe.

3. Knowledge required

The User should ensure that he understands and has significant experience of cryptocurrencies, blockchain systems and services, and that he fully understands the risks associated with the trading of digital tokens as well as the mechanism related to the use of cryptocurrencies (incl. storage).

4. Modifications and Change of Terms

NDAL may, from time to time and without giving any reason or notice, modify, upgrade, suspend, or discontinue (the "Modifications") the Platform, the Services or any part thereof. NDAL shall not be liable if any Modification affects your use of the Services.

NDAL reserves the right to vary these Terms at its sole and absolute discretion at any time without notice to you. It is your responsibility to review these Terms for changes. If you use the Platform or the Services after such varied Terms are posted online, you are deemed to have accepted such variation. If you do not accept the variation, your sole and exclusive remedy is to stop access to and use of the Platform and the Services and terminate these Terms.

5. External sites or services

Any Link to an external website or service does not represent an endorsement from us of this external content. We are not responsible for content found on external websites. If you are concerned about content found on external websites, please get in touch with the administrators of those sites. Use care when visiting external websites to keep your computer safe from viruses and malware.

6. Errors & bugs

The materials appearing on any interface of the Services, be it an app or a website or content provided by customer support or apps could include technical, typographical, or photographic errors. We do not warrant that any of the materials on its website are accurate, complete, or current. We may make changes to the materials

contained on its website at any time without notice. We do not, however, make any commitment to update the materials. We make no representations about the accuracy or completeness of historical Digital Currency price data provided by the Services.

7. Registration and creating an account

Users can create an account by using an email address. The email provided within the registration is used to identify the user and verification is not required. Any email provided by the user after registration is used for communicational purposes only. All emails are collected and may be used to inform users on service updates. By providing your email address you are agreeing to receive these emails.

When creating an account, the Service generates and stores a private and public cryptographic key pair that you can use to send and receive coins. The public key is your wallet address and can be shared to complete transactions. The private key uniquely matches the wallet address and is only used by the Service to authorize transfers to and from the wallet address.

8. Cryptocurrency transactions

Digital Currency value is highly volatile and buying, selling, and holding Digital Currencies involves a great deal of risk. We cannot & do not guarantee the value of any Digital Currencies. The Digital Currencies consensus network verifies and confirms transactions that you submit via the Service, and we cannot and do not confirm, cancel, or reverse coin-to-coin transactions, but can only confirm the Digital Currency network’s completion of a transaction. The Digital Currency network is operated by a network of independent third parties. Transaction requests submitted to the Blockchain via the Service will automatically be completed or rejected by the network. We are not responsible for errors or omissions made by you or any third party in connection with any cryptocurrency transaction initiated via the Service. The Service enables you to submit your transaction requests for confirmation to the network. We have no control over the network and cannot and do not ensure that any transaction request you submit via the Service will be completed. Transaction requests submitted via the Service may not be completed, or may be delayed, by the network. When you initiate a transaction request via the Service, you authorize us to submit your transaction request to the network in accordance with the directions you provide via the Service.

By using any of the Services, you represent and undertake that you understand the risks associated with cryptographic systems and the usage of cryptocurrencies. In particular, you acknowledge and agree that:

(a) NDAL safeguards your private keys on your behalf purely for security reasons; (b) you may not cancel, change or reverse any transaction initiated using the Services; (c) all transaction requests made pursuant to the use of the Service must be confirmed

and recorded by the relevant cryptocurrency network, which is not owned, controlled or operated by NDAL; accordingly, NDAL:

(i) Does not warrant that any transaction request will be confirmed via the relevant cryptocurrency network;

(ii) shall not be liable in any way if any transaction initiated using the Services is delayed or not completed; and

(iii) cannot cancel, change or reverse any cryptocurrency transaction which has been communicated to and confirmed by the relevant cryptocurrency network;

(d) NDAL makes no warranty as to the value of any cryptocurrency, or that any transaction request submitted as part of the Service will be completed;

(e) NDAL shall not be responsible for any error or omissions that you may make in connection with any transaction initiated using the Service;

9. Third-Party Payments We are not responsible or liable for, the delivery, quality, safety, legality of any goods or services purchased or sold to or from a third party (including other users of the Service). NDAL is not responsible for completion of transactions between buyers or sellers.

10. Suspension, Termination, and Cancellation

We may suspend, restrict, terminate or cancel your access to the Services due to: (a) Maintenance works; or(b) Suspect you of using your NAGA WALLET Account in connection with a Prohibited

Use; or(c) Use of your NAGA WALLET Account is subject to any pending litigation,

investigation, or government proceeding and/or we perceive a heightened risk of legal or regulatory non-compliance associated with your Account activity; or

(d) Our service partners (third-party services) are unable to support your use; or(e) You requested the account cancellation.

11. Taxes

It is the user's responsibility to decide whether any taxes apply to the transactions you conduct through the NAGA WALLET Services, and to withhold, report and remit the relevant funds to the appropriate tax authorities. You may view your transaction history in your NAGA WALLET Account.

12. Entire Agreement

These Terms, together with any other agreements that apply to you, constitute the entire and exclusive agreement between us and you regarding its subject matter, and surpass and replace any previous or contemporaneous written or oral contract, warranty, representation or understanding regarding its subject matter.

13. Fees

The Digital Currency network is operated by a network of independent third parties therefore certain network fees may or may not apply. Transaction may also carry a service fee payment. We reserve the right to adjust this service fee and any applicable waivers (both fees together, the “Network Fee”). We will always notify you of the Network Fee before or after each transaction.

14. Liability

IN NO EVENT SHALL WE, OUR AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE NAGA WALLET SERVICES, OR THIS AGREEMENT. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.(a) Release of NDAL: If you have a dispute with one or more NAGA WALLET users, you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees and representatives will be liable for any claims, demands and damages (actual and consequential) of any kind or nature arising out of or in any way connected with such disputes.(b) Indemnification: You agree to indemnify us, our affiliates and service providers, and each of our or their respective officers, directors, agents, employees and representatives, in respect of any costs (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) that have been reasonably incurred in connection with any claims, demands or damages arising out of or related to your breach and / or our enforcement of this Agreement or your violation of any law, rule or regulation, or the rights of any third party.(c) Limitations of liability: We shall only be liable to you for loss or damage caused directly and reasonably foreseeable by our breach of this Agreement and our liability in these circumstances is limited as set out in the remainder of this section. (For the avoidance of doubt the term "loss" includes a partial loss or reduction in value as well as a complete or total loss.)(d) No warranties: Our Services are provided on an "as is" and "as available" basis without any representation or warranty, whether express or implied, to the maximum extent

permitted by applicable law: specifically, we disclaim any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any representations or warranties that access to the NAGA WALLET, any of the NAGA WALLET services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free.(e) We make no representations about the accuracy or completeness of historical Digital Currency price data available through the Service. We will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and cheque issuances are processed in a timely manner, but we make no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.(f) Security and safety of your computer and devices: NDAL is not liable for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us. NAGA WALLET customer support will never ask to screen share or otherwise seek to access your computer or account; similarly, we will not ask for your two factor authentication codes. Always log into your NAGA WALLET account through https://www.naga.com or its subdomains to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.(g) No liability for breach: We are not liable for any breach of the Agreement where the breach is due to abnormal and unforeseeable circumstances beyond our control, the consequences of which would have been unavoidable despite all effects to the contrary, nor are we liable where the breach is due to the application of mandatory legal rules.

15. Governing Law and JurisdictionThese Terms and Conditions and any non-contractual obligations arising out of or in connection with these Terms and Conditions shall be governed by, and construed in accordance with, the laws of Belize. All disputes arising from or under these Terms and Conditions shall be subject to the exclusive jurisdiction of the competent courts of Belize.

16. Severability If at any time any provisions of these Terms and Conditions be or shall become invalid or unenforceable under any law, rule, or regulation, such determination will not affect the validity or enforceability of any other provision of these Terms and Conditions.

NAGA EXCHANGETerms & Conditions

Last Update: 28.11.2018

Please read these Terms and Conditions of Use ("Terms", "Terms and Conditions") carefully before using the NAGA EXCHANGE application and websites on the https://nagax.com/ website or any other website (the "Services") which is operated by NAGA Development Association Ltd. (“NDAL”, “The Service Provider”, "us", "we", or "our"). Your access to and use of the Services is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users and others who access or use the Services.These Terms of Service constitute the entire agreement and understanding with respect to the use of any or all of the Services between you and the following Party:

- NAGA Development Association Ltd., a private limited company incorporated in Belize with company number 168399 and whose registered office is 123 Barrack Road, Belize City, Belize.

The Terms of Service should be read in conjunction with the NAGA Ecosystem Privacy Policy which explains the data collection by NDAL in detail. In particular, please note that all transactions of Digital Tokens through the Services may be subject to fees levied by NDAL as defined under section 6. In the event of any inconsistency between these Terms of Service and any other pages, policies, terms, conditions, licenses, limitations, or obligations contained within the interface of the Services, these Terms of Service shall prevail.

In order to use the Service, you acknowledge that you have read, understand, and completely agree to these Terms of Service as well as the entire NAGA Ecosystem Terms & Conditions as set out in this document, and as updated and amended from time to time. If you do not wish to be bound by these Terms of Service or by any subsequent changes or updates, you may not use any of the Services. If you do use any of the Services, you will be bound by the Terms of Service, as amended. Your only recourse in the case of your unwillingness to be bound by these Terms of Service is to refrain from using all of the Services.

These Terms of Service may be amended, changed, or updated by NDAL at any time and without prior notice to you. You should check back often the website and documentation of the Services to confirm that your copy and understanding of these Terms of Service is current and correct. Your non-termination or continued use of any Services after the effective date of any amendments, changes, or updates constitutes your acceptance of these Terms of Service, as modified by such amendments, changes, or updates.The use of the Services is void where such use is prohibited by, would constitute a violation of, or would be subject to penalties under applicable Laws, and shall not be the basis for the assertion or recognition of any interest, right, remedy, power, or privilege.

PLEASE NOTE THAT THE SERVICES ARE CURRENTLY IN BETA STAGE. THIS MEANS THAT THE SERVICES CAN BE USED BUT SINCE THEY ARE STILL IN ACTIVE DEVELOPMENT AND TESTING, IT IS MORE LIKELY THAT YOU WILL ENCOUNTER DISRUPTIONS OR ERRORS WHILE USING THE SERVICES. PLEASE VIEW SECTION 5 FOR MORE INFORMATION.

1. Interpretation

1.1. "AML" means anti-money laundering, including all Laws applicable to the Parties prohibiting money laundering or any acts or attempted acts to conceal or disguise the identity or origin of; change the form of; or move, transfer, or transport, illicit proceeds, property, funds, fiat, or Digital Tokens, including but not limited to the promotion of any unlawful activity such as fraud, tax evasion, embezzlement, insider trading, financial crime, bribery, cyber theft or hack, narcotics trafficking, weapons proliferation or terrorism, which may also require internal controls to detect, prevent, report, and maintain records of suspected money laundering or terrorist financing;

1.2. "Anti-Corruption" means all Laws prohibiting corruption or bribery of government officials, kickbacks, inducements, and other related forms of commercial corruption or bribery;

1.3. Digital Tokens" means a digital representation of value that functions as (i) a medium of exchange; (ii) a unit of account; (iii) a store of value, and/or (iv) other similar digital representations of rights or assets, which is neither issued nor guaranteed by any country or jurisdiction and does not have legal tender status in any country or jurisdiction, typically including blockchain-based assets or rights including sovereign cryptocurrency or virtual currency such as Bitcoin, Ether, etc.

1.4. "Digital Tokens Address" means an alphanumeric identifier that represents a potential destination for a Digital Tokens transfer, which typically is associated with a user’s Digital Tokens Wallet;

1.5. “Digital Tokens Wallet” designates an interface used to generate and store cryptocurrency wallet addresses;

1.6. "Laws" means all laws, statutes, orders, regulations, rules, treaties, and/or official obligations or requirements enacted, promulgated, issued, ratified, enforced, or administered by any government that apply to you or the Service;

1.7. "Losses" has the meaning set out in paragraph 17 of these Terms of Service;1.8. "Person" includes an individual, association, partnership, corporation, other body

corporate, trust, estate, and any form of organisation, group, or entity with legal personality;

1.9. "Prohibited Jurisdictions" include Cuba, Democratic People’s Republic of Korea (North Korea), Iran, Syria, Pakistan, the Government of Venezuela and Crimea;

1.10. "Prohibited Use" has the meaning set out in section 9 of these Terms of Service;

1.11. "you" or "your" means the user. 2. Governing Law These Terms of Service shall be governed by and construed and enforced in accordance with the Laws of Belize, and shall be interpreted in all respects as a Belize contract. Any dispute, controversy, claim or action arising from or related to your use of the Services or these Terms of Service likewise shall be governed by the Laws of Belize, exclusive of choice-of-law principles.

3. License to use the Services

If you comply with these Terms of Service, NDAL grants you the limited right to use the Services. The right to use the Services is a personal, restricted, non-exclusive, non-transferable, non-sublicensable, revocable, limited license, and it is subject to the limitations and obligations in these Terms of Service. Nothing in these Terms of Service gives you any license (other than as set out in this paragraph), right, title, or ownership of, in, or to the Services, or the NDAL Marks. The Services may be terminated at its sole discretion, as required by applicable Laws or where NDAL determines that you have violated, breached, or acted inconsistent with any of these Terms of Service.

4. Trading & Financing Activities

The Services provide a trading environment for the spot purchase and sale of Digital Tokens. The Services permit unfinanced transactions only. Unfinanced purchases are fully funded by trading participants through fiat funds deposited by you from a Digital Tokens Address or otherwise into a Digital Tokens Wallet. For example, if you deposit $100 into your Digital Tokens Wallet in conjunction with your use of the Services, you may then purchase $100 worth of Digital Tokens in an unfinanced transaction.

Purchases and sales of Digital Tokens through the Services are settled by actual delivery of the full amount of the Digital Tokens by the seller to the purchaser’s Digital Tokens Wallet against payment in full by the purchaser to the seller’s Digital Tokens Address.

Important: Financing is not allowed where prohibited by applicable Laws. Furthermore, any persons that falls under the jurisdiction of a Prohibited Jurisdiction will not be able to use Financing.

5. BETA

Please note that the Services can be used but are currently still in beta mode, i.e. their development is incomplete, they are in active development and are being thoroughly tested. By using the Services at this stage, you acknowledge that (1) you are more likely to encounter disruptions or errors while using the Services; and that (2) NDAL may reverse trading activities in case of any kinds of errors whatsoever, including but not limited to falsely validated transactions.

6. Fees

NDAL reserves the rights to levy service fees on users who use the Services. It is in the discretion of NDAL to adjust the service fees charged to users using its services. Users will generally be informed of the relevant fees before conducting payable actions during the use of the Services. The applicable fee schedule can also at any time be consulted here.

7. Risks and limitation of liability

You are solely responsible and liable for any and all trading and non-trading activity performed through the Services and for your Digital Tokens Wallet when using the Services; and, for knowing the true status of any position, even if presented incorrectly by the Services at any time. You acknowledge and agree (1) to be fully responsible and liable for your trading and non-trading actions and inactions performed on the Services and all gains and losses sustained from your use of the Services; and (2) to be fully responsible for safeguarding access to, and any information provided through any of the Services, including, but not limited to Digital Tokens Addresses, private keys, usernames, passwords, and bank account details.

8. Withdrawals

Irrespective of the nature and form of any withdrawal request, whether initiated by you or otherwise, NDAL reserves the right to process and send withdrawals using money or any one or more Digital Tokens. In the course of processing and sending any withdrawals in money or one or more Digital Tokens, NDAL may be required to share your user information with other contractual third parties or as required under applicable Laws or demanded upon a lawful request by any government. You hereby irrevocably grant full permission and authority for NDAL to share this information with such contractual third parties, or as required under applicable Laws or demanded upon a lawful request by any government, and release NDAL from any liability, error, mistake, or negligence related thereto.

9. Resolution of Disputes

9.1 If you are a NDAL Customer, any dispute, claim, controversy or action arising out of or related to (a) the Terms of Service or the existence, breach, termination, enforcement, interpretation or validity thereof, or (b) your account(s), the operations and Services, or (c) your access to or use of the Services at any time, shall be subject to the exclusive jurisdiction of the courts of Belize. For the avoidance of doubt, and without limiting the generality of the foregoing, this provision expressly applies to any claim, whether in tort, contract or otherwise, against NDAL. You irrevocably and unconditionally agree and consent to the jurisdiction and venue of the courts of Belize, and you waive any objections thereto, including under the doctrine of forum non conveniens or other similar doctrines. You and NDAL agree that any party hereto may bring claims against the others only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding. No adjudicator may consolidate or join more than one person’s or party’s claims and may not otherwise preside over any form of a consolidated, representative, or class proceeding. Any relief awarded to any one NDAL user cannot and may not affect any other NDAL users.9.2 JURY TRIAL WAIVER: TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING OF ANY KIND WHATSOVER ARISING OUT OF OR RELATING TO THESE TERMS OF SERVICE OR ANY BREACH THEREOF,

ANY USE OR ATTEMPTED USE OF THE SERVICES BY YOU, AND/OR ANY OTHER MATTER INVOLVING THE PARTIES.

10. Prohibited Uses

You may not:

a) use the Services in order to disguise the origin or nature of illicit proceeds of, or to further, any breach of applicable Laws, or to transact or deal in, any contraband Digital Tokens, Fiat, funds, property, or proceeds;

b) use Services if any applicable Laws, including but not limited to AML Laws or Anti-Corruption Laws, prohibit, penalize, sanction, or expose the Services furnished or offered to you or any of your Digital Tokens Address(es) under these Terms of Service;

c) use the Services to facilitate, approve, evade, avoid, or circumvent any applicable Laws, including but not limited to AML Laws, Anti-Corruption Laws;

d) use the Services to evade taxes under the Laws of Belize or any other jurisdiction(s) applicable to you or the Services;

e) trade or obtain financing through the Services, with anything other than fiat, funds, keys, property, or Digital Tokens that have been legally obtained by you and that belong to you;

f) use the Services to interfere with or subvert the rights or obligations of NDAL or the rights or obligations of any other third party;

g) trade using misleading or inaccurate information presented to NDAL or take advantage of any technical glitch, malfunction, failure, delay, default, or security breach;

h) use the Services to engage in conduct that is detrimental to NDAL or to any other third party;

i) falsify any account, Digital Tokens Wallet, or Digital Tokens Address registration, exchange, or administration details provided to NDAL;

j) falsify or materially omit any information or provide misleading or inaccurate information requested by NDAL, including at registration or during the course of administering any Services to you;

k) reverse-engineer, decompile, or disassemble any software used by the Services;l) cause injury to, or attempt to harm, NDAL or any third party through your access to the

Services;m)where you are subject to prohibitions or restrictions as set forth in paragraph 3, access

the Services utilising any virtual private network, proxy service, or any other third party service, network, or product with the effect of disguising your IP address or location, or access the Services using a Digital Tokens Address in or subject to the jurisdiction of any Prohibited Jurisdiction; or,

n) violate, cause a violation of, or conspire or attempt to violate these Terms of Service or applicable Laws.

Any use as described in this paragraph shall be deemed as a "Prohibited Use". If NDAL determines that you have engaged in any Prohibited Use, NDAL may address such Prohibited Use through an appropriate sanction, at its absolute discretion. Such sanction may include, but is not limited to, making a report to any government, law enforcement, or other authorities, without providing any notice of you about any such report.

11. Due Diligence

NDAL is committed to providing safe, compliant, and reputable Services to identify, detect, prevent, and report on money laundering, terrorist financing, and other improper activities under applicable AML Laws, Anti-Corruption Laws and other relevant Laws. Accordingly, NDAL insists on a comprehensive and thorough user due diligence process implementation and ongoing analysis and reporting. By agreeing to these Terms of Service, you shall affirmatively certify that you will provide promptly all information requested and necessary to satisfy due diligence requirements and obligations pursuant to applicable Laws and the compliance policies or procedures of NDAL. You agree to provide promptly documentation, information, or records requested by NDAL at any time. NDAL needs to retain certain information, documentation, and records on file pursuant to applicable Laws and its contractual relationships, and NDAL hereby expressly reserves the right to keep such information, documentation, and records. Additionally, NDAL monitors for and assesses suspicious or sanctionable transactions under applicable AML, Anti-Corruption Laws and other applicable Laws. These undertakings shall apply even when you suspend or terminate your relationship with NDAL or abandon your application to use the Services NDAL. Our policies apply to any and all Digital Tokens or fiat exchanged through the Services.

NDAL reserves the right to refuse registration to, to bar transactions from or to, or to suspend or terminate the administration of Services or Digital Tokens Address for or with, any user for any reason (or for no reason) at any time, including but not limited to the provisions of paragraphs 12 and 15, subject to any limitations imposed by applicable Laws. Without limiting the generality of the foregoing, this includes, but is not limited to, any transfer, transaction, business, or dealing with a: (i) a Person from or in jurisdictions that does not meet international AML standards (ii) Person that presents a risk of any exposure to penalties, sanctions, or other liabilities under AML Laws, Anti-Corruption Laws or tax Laws that may apply; and (vi) any Person that fails to meet any user due diligence standards, requests, or requirements of NDAL, or otherwise appears to be of high risk, including but not limited to any of the foregoing factors. In lieu of refusing registration or ongoing administration of your account, NDAL may perform enhanced due diligence procedures. At all times, you may be subject to enhanced due diligence procedures in your use of the Services. If you decline to provide requested due diligence information or otherwise do not reply timely or substantively with the documentation or data requested, NDAL has the absolute discretion to suspend or terminate Services to you with immediate effect.

12. Intellectual Property

NAGA Exchange, trade names, word marks, and design marks (the "NDAL Marks") are trademarks of NDAL. You agree not to appropriate, copy, display, or use the NAGA Marks or other content without express, prior, written permission to do so. Unless otherwise indicated, all materials used by the Services are ©NDAL.

13. Your Representations & Warranties

a) You represent and warrant to NDAL as follows:b) that, if you are an individual user, you are 18 years of age or older and that you have the

capacity to contract under applicable Laws;c) that, if you are registering to use the Services on behalf of a legal entity, (i) such legal

entity is duly organised and validly existing under the applicable Laws of the jurisdiction of its organisation; and (ii) you are duly authorised by such legal entity to act on its behalf;

d) that you understand the risks associated with using the Services, that you are not prohibited or restricted from using the Services by paragraph 3 of these Terms, and that you are not otherwise prohibited by applicable Laws from using the Services;

e) that you will not use the Services in order to conceal or disguise the origin or nature of proceeds of crime or terrorist financing, or to further, any breach of applicable AML Laws or CTF Laws, or to deal in any unlawful Digital Tokens, fiat, property, funds, or proceeds;

f) that you will not trade or obtain financing through the Services with anything other than fiat, funds or Digital Tokens that have been legally obtained by you and that belong to you;

g) that you are currently in compliance with, and must, at your own cost and expense, comply with all Laws that relate to or affect the Services conducted under these Terms of Service, including but not limited to AML Laws, Anti-Corruption Laws and other relevant Laws.

h) that you consent to any and all tax and information reporting under AML Laws, Anti-Corruption Laws, as NDAL may reasonably determine;

i) that neither you nor any of your Affiliates shall use any Digital Tokens, fiat, proceeds or funds subject to the Services directly or indirectly (i) on behalf of or for the benefit of a person subject to the jurisdiction of a Prohibited Jurisdiction, except where authorised or not restricted by applicable Laws; or (ii) in any way that would violate, be inconsistent with, penalized under, or cause the omission of filing of any report required under applicable AML Laws, Anti-Corruption Laws or other relevant Laws;

j) that you have not (i) violated; (ii) been fined, debarred, sanctioned, or otherwise penalised under; (iii) received any oral or written notice from any government concerning actual or possible violation by you under; or (iv) received any other report that you are the subject or target of sanctions, restrictions, penalties, or enforcement action or investigation under, any applicable Laws, including AML Laws, Anti-Corruption Laws or other relevant Laws;

k) that you are: (i) owned or controlled by a person subject to the jurisdiction of a Prohibited Jurisdiction; (ii) residing or domiciled in, or transferring Digital Tokens, fiat or funds to, from, or through any Digital Tokens Address or other account in a Prohibited Jurisdiction;

l) that neither you nor any of your Affiliates has directly or indirectly offered, promised, given, or authorised any payment, or offered, promised, given, or authorised the giving of anything else of value, including any Digital Tokens, to any person in violation of any applicable Anti-Corruption Laws;

m)that you will not falsify any Digital Tokens Wallet registration or administration details provided to NDAL;

n) that you will not falsify or materially omit any information or provide misleading or inaccurate information requested by NDAL in the course of, directly or indirectly relating to, or arising from your use of the Services, including at registration or during administration or other due diligence processes, and that if any information provided to NDAL becomes incorrect, you will promptly provide corrected information to NDAL;

o) that any trading or other instructions received or undertaken through your login credentials or from your authorised e-mail address on file with NDAL are deemed to be valid, binding, and conclusive, and that NDAL may act upon those instructions without any liability or responsibility attaching to it;

p) that you will fairly and promptly report all income associated with your activity through the Services pursuant to applicable Laws and pay any and all due taxes thereon; and

q) that you will accurately and promptly inform NDAL if you know or have reason to know whether any of the foregoing representations or warranties no longer is correct or becomes incorrect.

14. No Representations & Warranties by NDAL

NDAL makes no representations, warranties, or guarantees to you of any kind. The Services are offered strictly on an as-is, where-is basis and, without limiting the generality of the foregoing, are offered without any representation as to merchantability or fitness for any particular purpose.

15. No Advice

NDAL does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes.

16. Limitation of Liability & Release

Important: Except as may be provided for in these Terms of Service, NDAL assumes no liability or responsibility for and shall have no liability or responsibility for any claim, application, loss, injury, delay, accident, cost, business interruption costs, or any other expenses (including, without limitation, attorneys’ fees or the costs of any claim or suit), nor for any incidental, direct, indirect, general, special, punitive, exemplary, or consequential damages, loss of goodwill or business profits, work stoppage, data loss, computer failure or malfunction, or any and all other commercial losses (collectively, referred to herein as "Losses") directly or indirectly arising out of or related to:

(a) these Terms of Service;(b) the Services, and your use of it;(c) the real or perceived value of any currencies or Digital Tokens traded through the

Services, or the price of any Digital Token displayed through the Services at any time;(d) any inaccurate, misleading, or incomplete statement displayed by the Services

regarding your Digital Tokens Wallet, whether caused by NDAL’s negligence or otherwise;

(e) any failure, delay, malfunction, interruption, or decision (including any decision by NDAL to vary or interfere with your rights) by NDAL in operating the Services;

(f) any stolen, lost, or unauthorized use of your Digital Tokens Wallet information, any breach of security or data breach related to your Digital Tokens Wallet information, or any criminal or other third party act affecting NDAL; or,

(g) any offer, representation, suggestion, statement, or claim made about NDAL or the Services.

You hereby agree to release NDAL from liability for any and all Losses, and you shall indemnify and save and hold NDAL harmless from and against all Losses. The foregoing limitations of liability shall apply whether the alleged liability or Losses are based on contract, negligence, unjust enrichment, strict liability, tort, violation of Law or regulation, or any other basis.

17. No Waiver

Any failure by NDAL to exercise any of its respective rights, powers, or remedies under these Terms of Service, or any delay by NDAL in doing so, does not constitute a waiver of any such right, power, or remedy. The single or partial exercise of any right, power, or remedy by NDAL does not prevent either from exercising any other rights, powers, or remedies.

18. Force Majeure

NDAL is not responsible for damages caused by delay or failure to perform undertakings under these Terms of Service when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or terrorism; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against. In the event of force majeure, NDAL is excused from any and all performance obligations and these Terms of Service shall be fully and conclusively at an end.

19. Assignment

These Terms of Service, and any of the rights, duties, and obligations contained herein, are not assignable by you without prior written consent of NDAL. These Terms of Service, and any of the rights, duties, and obligations contained herein, are freely assignable by NDAL without notice or your consent. Any attempt by you to assign these Terms of Service without written consent is void.

20. Severability

If any provision of these Terms of Service or part thereof, as amended from time to time, is determined to be invalid, void, or unenforceable, in whole or in part, by any court of competent jurisdiction, such invalidity, voidness, or unenforceability attaches only to such provision to the extent of its illegality, unenforceability, invalidity, or voidness, as may be, and everything else in these Terms of Service continues in full force and effect.