Terms & Conditions

1. Use of the Website

You agree to use the Website for lawful purposes only and in a way that does not infringe on the rights of, restrict, or inhibit anyone else's use and enjoyment of the Website.

You agree not to:

• Violate any applicable laws or regulations;
• Upload or transmit any material that is harmful, threatening, abusive, defamatory, or otherwise objectionable;
• Impersonate any person or entity or misrepresent your affiliation with any person or entity;
• Attempt to interfere with the proper working of the Website or compromise its security.

2. Eligibility

You represent and warrant that:

• You are at least 18 years of age or the age of legal majority in your jurisdiction;
• You have the legal capacity and authority to enter into these Terms;
• You will use the Website in compliance with these Terms and all applicable laws.

3. Intellectual Property

All content on the Website, including but not limited to text, graphics, logos, images, video and software, is the property of VALERO or its licensors and is protected by intellectual property laws.

You may not copy, reproduce, distribute, modify, or create derivative works from any part of the Website without prior written consent from VALERO.

4. Third-Party Links

The Website may contain links to third-party websites or services that are not owned or controlled by VALERO. We are not responsible for the content, privacy policies, or practices of any third-party websites or services.

You acknowledge and agree that VALERO shall not be responsible or liable for any damage or loss caused by your use of any such content, goods, or services available through any third-party websites or services.

5. Account Registration and Security

To access certain features of our services, you may be required to register for an account. When registering, you agree to:

• Provide accurate, current, and complete information;
• Maintain and promptly update your information;
• Maintain the security of your account credentials;
• Accept all risks of unauthorized access to your account and any activity under your account.

You are solely responsible for any activity conducted under your account.

6. Prohibited Conduct

You agree not to use the services to:

• Violate any law, regulation, or contractual obligation;
• Infringe intellectual property rights;
• Distribute viruses, worms, defects, Trojan horses, or any items of a destructive nature;
• Engage in conduct that could damage, disable, overburden, or impair the functioning of the services;
• Use any automated system, including "robots," "spiders," or "offline readers," without prior written consent.

7. Disclaimers

The Website and services are provided on an "as is" and "as available" basis. VALERO expressly disclaims all warranties of any kind, whether express or implied, including but not limited to:

• The implied warranties of merchantability, fitness for a particular purpose, and non-infringement;
• That the Website or services will be uninterrupted, secure, or error-free;
• That any content is accurate, reliable, or complete.

8. Limitation of Liability

To the fullest extent permitted by law, VALERO shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to:

• Loss of profits, data, use, goodwill, or other intangible losses;
• Losses resulting from (i) your access to or use of the services; (ii) any conduct or content of any third party; (iii) unauthorized access, use, or alteration of your transmissions or content.

9. Indemnification

You agree to defend, indemnify, and hold harmless VALERO, its affiliates, and their respective directors, officers, employees, and agents from and against any claims, liabilities, damages, losses, and expenses, including legal and accounting fees, arising out of or in any way connected with your use of the Website or violation of these Terms.

10. Termination

We reserve the right to suspend or terminate your access to the Website at our sole discretion, without notice and for any reason, including violation of these Terms.

Upon termination:

• Your right to access the Website and services will immediately cease;
• Any provisions of these Terms which by their nature should survive termination shall survive.

11. Modifications to the Terms

We may update or modify these Terms at any time, at our sole discretion. When we do, we will revise the date at the top of the Terms.

It is your responsibility to review these Terms periodically. Your continued use of the Website following the posting of any changes constitutes acceptance of those changes.

12. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of the jurisdiction in which VALERO is established, without regard to its conflict of law principles. Any disputes arising under or in connection with these Terms shall be subject to the exclusive jurisdiction of the competent courts of that jurisdiction.

13. Severability

If any provision of these Terms is found to be invalid or unenforceable, that provision will be limited or eliminated to the minimum extent necessary and the remaining provisions will remain in full force and effect.

14. Entire Agreement

These Terms, together with our Privacy Policy and any additional terms to which you agree when using particular elements of the Website, constitute the entire agreement between you and VALERO with respect to the Website and supersede all prior agreements, communications, and understandings, whether oral or written.

15. Application Disclaimers

The following statements are presented before an application is submitted.

• By submitting this information, I certify that the information provided is accurate and current, and that I have the authority to submit this application on behalf of the entity and persons listed on it.
• I certify that I have read and agree to the VALERO Privacy Policy.
• I acknowledge that this account application will not be considered complete until all necessary documentation has been submitted. Once complete, VALERO and its partner banks and trusts will review the information provided and reserve the right to request additional information or documentation.
• I acknowledge that VALERO and/or its partner banks and trusts may be required by law to carry out all necessary security and customer due diligence checks on all parties involved in this application, in compliance with all laws and regulations relating to AML, KYC, KYB, counter-terrorist financing, sanctions screening, or any other legal obligations.
• I agree and authorize VALERO and its partner banks and trusts to make, directly or through any third party, any inquiries that VALERO or its partners consider necessary to validate the information provided, including checking commercial databases or credit reports. I further authorize VALERO and its partner banks and trusts to take such steps as they deem necessary to comply with their legal obligations, and acknowledge that VALERO or its partners may, from time to time, be required to disclose this application's information to third parties.

16. Main Customer Agreement

This Main Customer Agreement ("Main Agreement") is entered into between you (the "Customer," "you," or "your") and VALERO, governing your use of VALERO services ("Services"), which include the provision of payment and account services and access to the Platform, as defined below.

To the extent your use of the Services requires access to the Payment Services or Account Services, you will be required to accept the specific terms and conditions relating to those services.

PLEASE REVIEW THESE TERMS CAREFULLY. VALERO'S LIABILITY IS LIMITED, AND YOUR ABILITY TO PURSUE CLAIMS AGAINST VALERO IS SUBJECT TO RESTRICTIONS. By clicking "I Agree," you affirm that you have read, understood, and accepted all the terms and conditions of this Main Agreement.

Interpretation

Any reference to a "Party" refers to either you or VALERO; "Parties" refers to both. In this Agreement the singular includes the plural and vice versa, and "including" means "including without limitation."

Eligibility and Restrictions

VALERO operates as a multi-jurisdictional financial technology platform, providing access to banking, payment, card, and digital asset services through a network of regulated banking, payment, and financial service providers (each a "Provider"). Each Provider operates under its own terms, conditions, and regulatory framework, and eligibility for any specific product or service may vary depending on the Provider and the applicable jurisdiction.

Services are available to:

• Validly formed businesses in their country of incorporation (corporations, partnerships, sole proprietorships, non-profits and similar), or
• Natural persons who have reached the legal age of majority and are legally permitted to enter into contracts in their jurisdiction of residence.

In both cases, the Customer must be acting as a principal and not on behalf of any third party, unless approved in writing by VALERO.

Before accessing any specific product or service, the Customer will be required to complete the applicable onboarding process, KYC/KYB verification, and accept the specific terms and conditions of the relevant Provider. Eligibility will be determined at that stage, in accordance with the Provider's requirements and applicable law.

VALERO does not offer its services in jurisdictions where such services are prohibited or restricted under applicable law or international sanctions frameworks. The list of restricted jurisdictions may vary by product and Provider and will be communicated during onboarding.

Customers may not, directly or indirectly:

• Bypass technical limitations of the Services, enable disabled features, or access non-public systems;
• Act as a service bureau or intermediary without value-added use;
• Reverse engineer the Services or Platform;
• Use the Services for illegal, fraudulent, or harmful activities;
• Interfere with the operation of the Platform or affect other users;
• Reproduce or distribute the Services or Platform without authorization.

Services

VALERO, directly or through one or more of its affiliates or third-party service providers, will provide the Services to the Customer in accordance with this Main Agreement, and shall host, maintain and support the Platform in its current form or any future form VALERO deems appropriate.

The Customer shall access the Platform through secure credentials and shall not disclose them to any third party, shall ensure access is limited to authorized persons, and shall notify VALERO immediately of any unauthorized access or suspected breach.

All fees payable in connection with the Services are set out in the applicable fee schedule provided by VALERO. Fees are non-refundable unless otherwise expressly stated. VALERO reserves the right to update the fees upon written notice to the Customer.

The Customer shall comply at all times with all applicable laws and regulations, including anti-money laundering (AML), know-your-customer (KYC) and know-your-business (KYB), anti-terrorist financing, tax regulations and financial sanctions. VALERO reserves the right to audit the Customer's use of the Services to ensure compliance, and the Customer shall cooperate fully.

VALERO may, from time to time, update some or all of the terms in this Main Agreement. These updates may be announced and implemented through the Platform. To continue using the Services, the Customer must accept any revised terms.

Term and Termination

This Main Agreement commences on the date the Customer accepts it and remains in force until terminated. Either party may terminate it at any time with thirty (30) days' written notice. VALERO may terminate immediately upon breach of the Main Agreement, legal requirement, risk of legal or regulatory exposure, or fraudulent or unlawful behavior.

Upon termination, all rights granted to the Customer cease, all amounts owed become due, and the sections relating to intellectual property, confidentiality, disclaimers, limitation of liability, indemnity and governing law survive.

Limitation of Liability and Indemnity

To the fullest extent permitted by law, VALERO shall not be liable for indirect, special, punitive or consequential damages; loss of profit, data or goodwill; or damages exceeding the total amount paid by the Customer in the last six months.

The Customer agrees to indemnify and hold harmless VALERO and its affiliates from any claims, liabilities, losses or expenses (including legal fees) arising from breach of the Agreement, use of the Platform or Services, or violation of laws or third-party rights.

Definitions

• "Account Services" means the services that enable the Customer to open and maintain an account on the Platform.
• "Affiliate" means any entity that directly or indirectly controls, is controlled by, or is under common control with VALERO.
• "Business Day" means any day except Saturday, Sunday, or a public holiday where VALERO operates.
• "Customer" refers to the entity or individual who accepts the terms of the Main Agreement.
• "Payment Services" refers to all payment-related functionalities made available by VALERO, including fiat and cryptocurrency transactions.
• "Platform" means the software, infrastructure, tools and interfaces made available to the Customer by VALERO for the purpose of using the Services.
• "Provider" means any regulated banking, payment, card or financial service provider engaged by VALERO to deliver specific products or services to Customers.
• "Services" means all services provided by VALERO under the Main Agreement, including the Payment Services and Account Services.

Fees

All fees applicable to the Customer's use of VALERO services will be disclosed before activation of any product or service, during onboarding or through the Platform. Fees vary by product, Provider and jurisdiction and may include account maintenance fees, payment processing fees, cryptocurrency transaction fees, foreign exchange margins and third-party charges such as network fees. VALERO reserves the right to amend fees upon prior written notice or publication through the Platform.

Payment Terms

Customers may fund their accounts or initiate transactions using any payment method supported by the applicable Provider, which may include:

• SEPA transfers
• SWIFT international wire transfers
• Fedwire and ACH transfers (United States)
• Card payments (debit or prepaid, where supported)
• Cryptocurrency transfers (USDT, USDC and other supported digital assets)
• AED local transfers (UAE)
• Any other payment method made available by VALERO or its Providers from time to time

Available methods vary by product, Provider and jurisdiction and are displayed during the transaction or onboarding process.

If a transaction involves a currency conversion, VALERO or the applicable Provider will apply an exchange rate that includes a margin above the wholesale rate.

All transactions are final. Refunds are only issued in cases of operational error or as required by law. Customers must notify VALERO of any payment discrepancy within 7 business days; failure to do so may result in forfeiture of claims.

Account Terms

Customers must submit all required KYC/KYB documentation before their account is activated, and must use accounts only for the lawful purposes declared during onboarding. VALERO may monitor accounts for compliance, security and legal reasons, and may suspend or restrict access where necessary. Customers may close their account at any time by written request, subject to settlement of all pending transactions and fees.

Regulatory Model

VALERO operates as a technology and integration platform connecting clients to regulated banking, card and payment infrastructure. Client funds are held and safeguarded by VALERO's regulated financial partners in accordance with applicable banking and financial regulations. VALERO does not hold, custody or safeguard client funds directly.

Contact

Questions about this document can be sent through the contact channels published on www.valero.im.